Naples, FL, April 02, 2024 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (OTC: SONG) a diversified holding company, today responded to select questions from shareholders regarding recent developments and future plans.
One of the primary inquiries from shareholders pertained to the number of outstanding shares. As of April 2, 2024, there are 3,001,750,199 shares of Common Stock outstanding, along with one share of Preferred J stock outstanding. Following the anticipated stock consolidation to be processed by FINRA, the outstanding shares are expected to be reduced to approximately 6,004. This influx of additional outstanding shares was strategically implemented to enable shareholders to lower their cost basis before the consolidation takes effect. Additionally, this adjustment ensures that the company can maintain market maker quotations in round lots of 100 shares without any single lot exceeding 5% of the company.
"We recognize the importance of providing clarity to our shareholders regarding the number of outstanding shares and the rationale behind the stock consolidation," said Jake P. Noch, Chief Executive Officer at Music Licensing, Inc. "Our decision to increase the number of shares before the consolidation is part of our commitment to transparent and responsible corporate governance."
Furthermore, the company expressed enthusiasm for the post-consolidation period, citing numerous opportunities identified during the first quarter of 2024. While the company had to exercise caution to ensure sufficient cash reserves until the completion of the stock consolidation by FINRA, it remains confident in its ability to pursue strategic acquisitions thereafter. Opportunities such as acquiring Jimi Hendrix and 2pac catalogs, expanding Listerine royalties, securing Deadmau5 & Skrillex catalogs, and exploring additional hip-hop catalogs are on the company's radar.
"We are extremely excited about the potential opportunities that lie ahead for Music Licensing, Inc.," added Jake P. Noch. "The forthcoming stock consolidation positions us well to capitalize on strategic acquisitions, further enhancing our position as a diversified holding company."
Music Licensing, Inc. reaffirms its commitment to delivering long-term value to its shareholders and stakeholders alike.
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.
