Music Licensing, Inc. (OTC: SONG) Announces Major Updates for Investors: Form 211 Filing, Potential Forward Stock Split or Dividend, and Plans to List on Nasdaq

Rhea-AI Summary

Music Licensing, Inc. (OTC: SONG) has filed a new Form 211 with FINRA to restore its quote eligibility, confident in full approval. The company is considering a 1-for-5 forward stock split to enhance liquidity and is also exploring a stock-based dividend with a new class of common stock. Additionally, SONG is in talks with Nasdaq’s First North Growth Market for a potential listing and plans to file another Form 211 for dual-class trading. The company seeks to collect $386.57 million from OTC Link LLC, with a response expected by January 6, 2023.

Positive

• Filed Form 211 to restore quote eligibility.
• Considering a forward stock split to enhance liquidity.
• Exploring a stock-based dividend for shareholders.
• In discussions for a potential Nasdaq listing.

Negative

• Legal action seeking debt recovery highlights financial risks.

NAPLES, Fla. , Dec. 19, 2022 /PRNewswire/ -- Music Licensing, Inc. (OTC: SONG), owner of Pro Music Rights, one of the world's largest music licensing companies, is pleased to announce that a new Form 211 has been filed with FINRA to restore its proprietary quote eligibility. The company is now awaiting FINRA to process the form and is confident that it will fully restore its eligibility.

In addition, Music Licensing, Inc. (OTC: SONG) is exploring a forward stock split or a stock-based dividend once FINRA has processed the new Form 211. The company is considering a 1 for 5 forward stock split to increase liquidity, tighten the bid/ask spread, and increase trading volume. It is also exploring the possibility of issuing a dividend to shareholders in the form of a new class of common stock with identical rights as the current class. Music Licensing, Inc. (OTC: SONG) plans to file another Form 211 with FINRA to allow both classes of common stock to be publicly traded.

Music Licensing, Inc. (OTC: SONG) has been in communication with Nasdaq's First North Growth Market in Sweden to list on the exchange. On December 15, 2022, the company's European capital markets listing advisor, DCM Asesores, had a call with Nasdaq First North Growth Market to become a certified adviser. DCM Asesores expects to undergo training to become a certified adviser by mid to late February 2023 and guide Music Licensing, Inc. (OTC: SONG) through the listing process on Nasdaq First North Growth Market. Nasdaq has already confirmed the reservation of the symbol NASDAQ: MUSIC for Music Licensing, Inc. (OTC: SONG)'s listing.

In other news, Music Licensing, Inc. (OTC: SONG) is working with its legal counsel to collect on a judgment won against Ayujoy Herbals and expects to receive a response on an arbitration complaint filed with FINRA by Pro Music Rights and the Jake P. Noch Family Office seeking $386,574,108.25 plus interest and costs from OTC Link LLC by January 6, 2023.

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 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, MoneyBaggYo, Larry June, Trae Pound, Sause Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, 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, Fall Out Boy, and countless others. For more information, please visit promusicrights.com.

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.

Contact:
investors@ProMusicRights.com
+1 833-227-7683

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SOURCE Music Licensing, Inc.

FAQ

What is the latest update from Music Licensing, Inc. (SONG)?

Music Licensing, Inc. has filed a Form 211 with FINRA and is considering a forward stock split and a stock-based dividend.

Is Music Licensing, Inc. planning a stock split?

Yes, Music Licensing, Inc. is exploring a 1-for-5 forward stock split to increase liquidity.

What is the status of the dividend for Music Licensing, Inc. (SONG)?

The company is considering issuing a dividend in the form of a new class of common stock.

When can we expect news about the Nasdaq listing for SONG?

The company is currently in discussions with Nasdaq’s First North Growth Market for a potential listing.

What amount is Music Licensing, Inc. seeking in legal proceedings?

The company is pursuing a claim for $386.57 million against OTC Link LLC.