Music Licensing, Inc. Announces Cancellation of 500,000,000 Common Stock Shares

Rhea-AI Summary

Music Licensing, Inc. announces the cancellation of 500,000,000 common stock shares held by the CEO's family office, aiming to enhance shareholder value and improve financial stability.

Positive

• Cancellation of 500,000,000 common stock shares to streamline capital structure and improve earnings per share metrics.
• Enhanced value proposition for investors and sustainable growth in the music industry.

Negative

• None.

Naples, FL, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (OTC: SONG), a leading name in the music industry, today announced a significant development that will have a positive impact on the company's overall financial structure. The CEO of Music Licensing, Inc., Jake P. Noch, has taken a strategic step to optimize the company's shareholder value by requesting the cancellation of 500,000,000 common stock shares held by his family office. These shares will be returned to the company's transfer agent and subsequently canceled.

This decision underscores Music Licensing, Inc.'s commitment to enhancing shareholder value and ensuring the company's long-term financial stability. By canceling these shares, the company aims to streamline its capital structure, improve earnings per share metrics, and bolster investor confidence.

"We believe that this action is in the best interest of our shareholders," said Jake P. Noch, CEO of Music Licensing, Inc. "By reducing the total number of outstanding shares, we are enhancing the value proposition for our investors and positioning the company for sustainable growth in the dynamic music industry."

The cancellation of these shares aligns with Music Licensing, Inc.'s ongoing efforts to create value for shareholders, strengthen the company's financial position, and support strategic initiatives that drive innovation and market expansion.

Shareholders and investors are encouraged to follow Music Licensing, Inc.'s official communication channels for updates on this development and other company news.

About Music Licensing, Inc. (OTC: SONG)  (ProMusicRights.com)

Music Licensing, Inc. (OTC: SONG), 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.

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.

Contact: investors@ProMusicRights.com

SOURCE: Music Licensing, Inc.

FAQ

What is the significant development announced by Music Licensing, Inc.?

Music Licensing, Inc. announced the cancellation of 500,000,000 common stock shares held by the CEO's family office.

What are the expected benefits of canceling these shares?

The cancellation aims to streamline the company's capital structure, improve earnings per share metrics, and enhance the value proposition for investors.

What is the CEO's perspective on this action?

The CEO believes that reducing the total number of outstanding shares will enhance shareholder value and position the company for sustainable growth in the dynamic music industry.

What are the ongoing efforts of Music Licensing, Inc. to create value for shareholders?

The company is focused on strengthening its financial position, supporting strategic initiatives for innovation and market expansion, and providing regular updates through official communication channels.