Naples, FL, Nov. 13, 2023 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC:SONG) proudly announces a strategic move led by its Chief Executive Officer and Chairman of the Board of Directors, Jake P. Noch. In a visionary step towards enhancing shareholder value and solidifying the company’s financial foundation, Music Licensing, Inc. is actively pursuing a reduction in the number of authorized common shares to 2 billion, mirroring the exact number of common shares currently outstanding.
Mr. Noch, at the helm of Music Licensing, Inc., recognizes the significance of maintaining the balance between capital structure and shareholder interests. As part of this comprehensive initiative, the company is pleased to declare a moratorium on new common stock issuance until at least 2024. This decisive measure is aimed at providing stability and assurance to our valued shareholders.
The decision to limit the number of authorized common shares and impose a moratorium on new common stock issuance is rooted in our commitment to creating long-term value for shareholders. By setting a clear trajectory for the next few years, Music Licensing, Inc. is positioning itself as a reliable and forward-thinking player in the music licensing industry.
CEO Jake P. Noch commented on the initiative, stating, “Our shareholders are at the heart of our decisions. This strategic move reflects our dedication to their interests and the sustained growth of Music Licensing, Inc. By taking these steps, we aim to instill confidence and enhance the overall shareholder experience.”
Key highlights of the initiative include:
1. **Reduction in Authorized Common Shares:** The company is actively seeking to lower the number of authorized common shares to 2 billion, aligning with the existing outstanding shares.
2. **Moratorium on New Common Stock Issuance:** Music Licensing, Inc. is implementing a moratorium on the issuance of new common stock until at least 2024, providing shareholders with stability and confidence in the company’s financial direction.
This strategic move underscores Music Licensing, Inc.’s commitment to responsible corporate governance and shareholder value. The company believes that by taking these decisive steps, it is positioning itself for sustained growth and success in the music industry.
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.
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.
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SOURCE: Music Licensing, Inc.
Source Globe Newswire