Naples, Florida, March 12, 2024 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (OTC: SONG), a distinguished holding company specializing in music licensing and intellectual property, is proud to announce significant developments aimed at fortifying shareholder value and solidifying its market standing.
In line with our steadfast commitment to optimizing our capital structure, Music Licensing, Inc. has embarked on a strategic stock consolidation program, employing a 500,000:1 share consolidation ratio. This strategic maneuver is engineered to significantly reduce the outstanding number of Common Stock shares to below 30,000 shares, exceeding our initial projections. Subsequent to this consolidation, Music Licensing, Inc. (OTC: SONG) will expedite the implementation and finalization of the long-anticipated Common Stock Buy-Back program, initially unveiled in 2023. The delay in executing this program stemmed predominantly from the challenge of securing a brokerage firm or investment bank willing to undertake the Buy-Back Program at our prevailing low share price. However, post-consolidation, we are confident in our ability to enlist the requisite support, as validated by the positive feedback received from multiple firms with whom we've engaged.
These strategic initiatives are complemented by recent milestones, notably, Music Licensing, Inc.'s attainment of "Penny Stock Exempt" status on March 05, 2024, and the removal of the "Shell Risk" designation from our OTC Markets Group profile on March 01, 2024. These accomplishments underscore our unwavering commitment to upholding the highest standards of corporate governance and transparency.
Furthermore, Music Licensing, Inc. recently concluded the acquisition of a royalty interest in the renowned Listerine "Mouthwash" Antiseptic on February 22, 2024. This strategic endeavor, alongside our earlier acquisitions of royalty interests in musical works by industry luminaries such as Elton John, Miley Cyrus, Lil Wayne, Lil Nas X, XXXTENTACION, and Halsey, serves to expand our portfolio and solidify our position as a prominent player in the music licensing and intellectual property domain.
In addition to these achievements, Music Licensing, Inc. reported exceptional financial performance, with stellar earnings announced on February 26, 2024. The company's sustained success is attributable to our innovative approach to music licensing and our steadfast commitment to delivering maximum value for our esteemed shareholders.
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.
