Industry Market Leader Pro Music Rights, Inc. (OTC: NUVG) Secures Judgment Against Ayujoy Herbals (OTC: AJOY) f/k/a Groupe Athena Regarding Music Licensing Agreement
Pro Music Rights (OTC: NUVG) announced a court victory against Ayujoy Herbals (OTC: AJOY) with a secured judgment of $77,641, along with statutory and court fees, due to non-compliance with a licensing agreement and alleged fraud. The Superior Court of New Jersey issued a final judgment that is non-appealable. CEO Jake P. Noch emphasized this victory as evidence of PMR's strong collection practices and the rampant licensing infringement in the industry, revealing a promising revenue potential for the company and its investors.
- Secured a judgment of $77,641 against AJOY, affirming PMR's legal stance.
- Highlights efficient accounts receivable and collection initiatives, suggesting strong financial management.
- Demonstrates potential for increased revenue streams amidst industry-wide licensing challenges.
- None.
NAPLES, Fla., Aug. 30, 2022 (GLOBE NEWSWIRE) -- Pro Music Rights, Inc. (OTC: NUVG), one of the world's largest music licensing companies, today announced Pro Music Rights has prevailed in its lawsuit against Ayujoy Herbals (OTC: AJOY) (“AJOY”) f/k/a/ Groupe Athena with a secured judgment in the amount of
The initial complaint was brought forth by Pro Music Rights, Inc. (“PMR”) (OTC: NUVG) in response to AJOY’s non-compliance on a signed agreement with PMR, in addition to alleged chargeback fraud committed by AJOY. A final Judgment has been issued by Superior Court of New Jersey in Morris County (Docket # MRS-L-000229-22) and is non-appealable.
Pro Music Rights, Inc. CEO Jake P. Noch comments: “This is further proof of PMR’s accounts/receivables, collection initiatives, and enforcement, as such. Licensing infringement and non-compliance is rampant in our industry and PMR has cultivated a revenue stream with high-impact potential for the Company and its Shareholders."
About Pro Music Rights, Inc. (ProMusicRights.com)
Pro Music Rights the 5th public performance rights organization (PRO) ever formed in the United States. Its licensees include notable companies like TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and hundreds of others. Pro Music Rights controls an estimated market share of
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 Pro Music Rights, Inc. to accomplish its stated plan of business. 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. or any other person.
Contact:
investors@ProMusicRights.com
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