The earnings call reveals several negative factors: declining margins, increased tax expenses, and unresolved issues with Dr. Tobias on Amazon. Although MusclePharm shows growth, it's primarily from existing customers. Rising protein costs and potential further margin declines are concerning. Despite optimistic guidance for Irwin's online sales, the lack of clarity on subscriber trends and management's avoidance of detailed responses contribute to a negative sentiment. Without a market cap, the negative impact is assumed to be moderate.