Naples, FL -- May 17, 2024 -- InvestorsHub NewsWire --
Music Licensing, Inc. (OTC:
SONG) is pleased to announce that its wholly owned
subsidiary, Pro Music Rights, has achieved a significant milestone
in its ongoing efforts to enforce its licensing agreements. Pro
Music Rights has received a final judgment in the amount of
$114,081.30 USD, further solidifying the enforceability of its
licensing agreements and underscoring the company's commitment to
protecting the rights of artists and content creators.
The final judgment, accompanied by an interest rate of
9.09% per year, is a testament to the effectiveness of Pro Music
Rights' enforcement and collection campaign. This success marks the
first steps in an ongoing initiative aimed at ensuring compliance
with licensing agreements and safeguarding the intellectual
property of Pro Music Rights' extensive roster of artists and
content partners.
As previously announced, Music Licensing, Inc. intends
to implement a Buy-Back program, subject to board approval and
regulatory compliance. The company plans to allocate 25% of the net
recoverable funds from its enforcement campaign towards a proposed
buyback of its common stock on the open market. This strategic
initiative reflects Music Licensing, Inc.'s commitment to enhancing
shareholder value and capitalizing on opportunities for
growth.
The pending corporate action for the stock
consolidation, currently in process with FINRA, is expected to be
completed in the coming days. Upon completion, Music Licensing,
Inc. Intends to move forward with retaining a broker-dealer or
investment bank to administer the proposed buyback program. This
proactive approach underscores the company's dedication to
executing its strategic objectives in a timely and efficient
manner.
"We are pleased with the outcome of our enforcement
efforts and the favorable judgment received," said Jake P. Noch,
Chief Executive Officer & Chairman of Music Licensing, Inc.
"This achievement not only validates the strength of our licensing
agreements but also positions us for further success as we continue
to prioritize the interests of our artists, content creators, and
shareholders."
Music Licensing, Inc. remains committed to upholding the
highest standards of transparency, compliance, and accountability
as it pursues its strategic initiatives and works to deliver value
to its stakeholders.
About Music Licensing, Inc. (OTC: SONG)
(ProMusicRights.com)
Music Licensing, Inc. (OTC: SONG) a diversified holding company,
also known as Pro Music Rights, is the 5th public performance
rights organization (PRO) to be formed in the United States. Its
licensees include notable companies such as TikTok, iHeart Media,
Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights
holds an estimated market share of 7.4% in the United States,
representing over 2,500,000 works that feature notable artists such
as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana,
Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sause Walka, Trae
Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe,
SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter,
Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz,
Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar,
3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi
Vert, and countless others, as well as Artificial Intelligence
(A.I.) Created Music. Additionally, Music Licensing, Inc. (OTC:
SONG) owns royalty stakes in Listerine "Mouthwash" Antiseptic as
well as musical works by artists such as Elton John, Lil Nas
X, Miley Cyrus, Lil Wayne, XXXTentacion, Halsey, and numerous
others.
Forward-Looking Statements:
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934,
which are intended to be covered by the safe harbors created
thereby. Investors are cautioned that, all forward-looking
statements involve risks and uncertainties, including without
limitation, the ability of Music Licensing, Inc. & Pro Music
Rights, Inc. to accomplish its stated plan of business. Music
Licensing, Inc. & Pro Music Rights, Inc. believes that the
assumptions underlying the forward-looking statements contained
herein are reasonable, any of the assumptions could be inaccurate,
and therefore, there can be no assurance that the forward-looking
statements included in this press release will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by Pro Music
Rights, Inc., Music Licensing, Inc., or any other person.
Non-Legal Advice Disclosure:
This press release does not constitute legal advice, and readers
are advised to seek legal counsel for any legal matters or
questions related to the content herein.
Non-Investment Advice Disclosure:
This communication is intended solely for informational purposes
and does not in any way imply or constitute a recommendation or
solicitation for the purchase or sale of any securities,
commodities, bonds, options, derivatives, or any other investment
products. Any decisions related to investments should be made after
thorough research and consultation with a qualified financial
advisor or professional. We assume no liability for any actions
taken or not taken based on the information provided in this
communication
Contact: investors@ProMusicRights.com
SOURCE: Music Licensing, Inc.
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