Music Licensing, Inc. (OTC:SONG) Alleges Corruption at Jamaica Stock Exchange

Rhea-AI Summary

Music Licensing, Inc. (OTC:SONG) is addressing alleged corruption within the Jamaica Stock Exchange, aiming to rectify defamatory statements and take legal action against specific parties. The company remains committed to ethical practices and transparency, filing a preservation notice and a Form 1-U with the SEC. The impediment to the company's expansion into Jamaica's music publishing and intellectual property sector is attributed to alleged extortion, misappropriation of funds, and fraudulent representations by certain parties.

Naples Florida, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (OTC:SONG) is taking a stand against corruption within the Jamaica Stock Exchange, shedding light on alleged misconduct by certain parties. Contrary to baseless accusations, Music Licensing, Inc. has neither initiated legal threats nor engaged in defamatory campaigns. Instead, the company aims to rectify the narrative surrounding recent defamatory statements released by the Jamaica Stock Exchange and other implicated parties.

On January 29, at 4:53 PM EST, Music Licensing, Inc. (OTC:SONG) issued a preservation notice, adhering to its commitment to transparency and legal obligations. As a publicly traded entity in the United States, the company promptly filed a Form 1-U with the United States Securities and Exchange Commission on January 30, 2024, disclosing its intent to pursue legal action against specific parties, including "Shaunna-Kay Carter, Novia Cotterell, Earl Chapman, Maurice Wright, Ian McNaughton, Marlene Street, Cumax Wealth Management, Jamaica Stock Exchange Limited."

The core issue revolves around alleged misconduct, ranging from attempted extortion for bribes to misappropriation of funds, fraudulent representations, wire fraud, and mail fraud. Music Licensing, Inc. (OTC:SONG) remains steadfast in its commitment to ethical and lawful practices.

The impediment to the company's expansion into Jamaica's music publishing and intellectual property sector stems from the actions of the aforementioned parties. The attempt to extort bribes has hindered Music Licensing, Inc. from listing on the Jamaica Stock Exchange, as the company adamantly refuses to partake in immoral practices, in compliance with the Foreign Corrupt Practices Act in the United States.

In response to misappropriation of funds and fraudulent representations, Music Licensing, Inc. (OTC:SONG) has retained  representation to initiate legal proceedings. The company's legal representation in this matter is Davy Karkason Esq. from Transnational Matters (www.transnationalmatters.com). Music Licensing, Inc. is determined to pursue these individuals and entities to the fullest extent of the law. Furthermore, the company is exploring all potential lawful avenues, including filing arbitration with the International Centre for Settlement of Investment Disputes and pursuing legal action in federal court within the United States.

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 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.

FAQ

What is the ticker symbol for Music Licensing, Inc.?

The ticker symbol for Music Licensing, Inc. is SONG.

When did Music Licensing, Inc. file a preservation notice?

Music Licensing, Inc. filed a preservation notice on January 29, 2024.

Who is the legal representation for Music Licensing, Inc. in this matter?

The company's legal representation in this matter is Davy Karkason Esq. from Transnational Matters (www.transnationalmatters.com).

What specific actions is Music Licensing, Inc. taking against the Jamaica Stock Exchange and other implicated parties?

The company is exploring all potential lawful avenues, including filing arbitration with the International Centre for Settlement of Investment Disputes and pursuing legal action in federal court within the United States.

What is hindering Music Licensing, Inc. from listing on the Jamaica Stock Exchange?

Alleged extortion for bribes and refusal to partake in immoral practices, in compliance with the Foreign Corrupt Practices Act in the United States, has hindered the company from listing on the Jamaica Stock Exchange.