Music Licensing, Inc. (OTC Pink:SONG) announces that Pro Music Rights has filed an arbitration complaint with FINRA seeking $386,574,108.25 USD plus interest and costs

Rhea-AI Summary

Music Licensing, Inc. (OTC PINK: SONG) has announced that Pro Music Rights and the Jake P. Noch Family Office, LLC have filed an arbitration complaint with FINRA seeking a total of $386,574,108.25 plus interest and costs from OTC LINK LLC. The arbitration involves Pro Music Rights, which is fully owned by Music Licensing, Inc. This organization controls a significant part of the public performance rights market, with a market share of 7.4% in the U.S. and oversees over 2.5 million works from numerous well-known artists.

Positive

• Pro Music Rights controls a significant market share of 7.4% in the U.S. public performance rights industry.
• Pro Music Rights represents over 2.5 million works from notable artists, enhancing its market presence.

Negative

• The arbitration complaint seeking over $386 million indicates potential financial liabilities for Music Licensing, Inc.

NAPLES, FL / ACCESSWIRE / November 23, 2022 / Music Licensing, Inc. (OTC PINK:SONG) announces that Pro Music Rights & Jake P. Noch Family Office, LLC. has filed an arbitration complaint with FINRA seeking $386,574,108.25 USD plus interest and costs from OTC LINK LLC.

Music Licensing, Inc. (OTC Pink:SONG) Owns 100% of Pro Music Rights, Inc. Pro Music Rights, Inc. & Jake P. Noch Family Office, LLC. are represented in this matter by Kristian P. Kraszewski, Esq. of Kyros Law Offices

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 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

SOURCE: Music Licensing, Inc.

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FAQ

What is the arbitration complaint filed by Pro Music Rights related to the stock symbol SONG?

Pro Music Rights and the Jake P. Noch Family Office, LLC have filed an arbitration complaint seeking $386,574,108.25 from OTC LINK LLC.

What is the market share of Pro Music Rights as of the latest press release?

Pro Music Rights holds an estimated 7.4% market share in the public performance rights industry in the U.S.

Which notable companies are licensees of Pro Music Rights?

Pro Music Rights' licensees include TikTok, iHeart Media, Triller, Napster, and Vevo.

How many works does Pro Music Rights control?

Pro Music Rights controls over 2.5 million works featuring various notable artists.

What are the risks associated with the forward-looking statements in the Music Licensing press release?

The forward-looking statements involve uncertainties, including risks related to Pro Music Rights' business plans and assumptions that may not prove accurate.