Music Licensing, Inc. (OTC 173 0 Kommentare SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements

Naples, FL , May 17, 2024 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (OTC: SONG) is pleased to announce that its wholly owned subsidiary, Pro Music Rights, has achieved a significant milestone in its ongoing efforts to enforce its licensing agreements. Pro Music Rights has received a final judgment in the amount of $114,081.30 USD, further solidifying the enforceability of its licensing agreements and underscoring the company's commitment to protecting the rights of artists and content creators.

The final judgment, accompanied by an interest rate of 9.09% per year, is a testament to the effectiveness of Pro Music Rights' enforcement and collection campaign. This success marks the first steps in an ongoing initiative aimed at ensuring compliance with licensing agreements and safeguarding the intellectual property of Pro Music Rights' extensive roster of artists and content partners.

As previously announced, Music Licensing, Inc. intends to implement a Buy-Back program, subject to board approval and regulatory compliance. The company plans to allocate 25% of the net recoverable funds from its enforcement campaign towards a proposed buyback of its common stock on the open market. This strategic initiative reflects Music Licensing, Inc.'s commitment to enhancing shareholder value and capitalizing on opportunities for growth.

The pending corporate action for the stock consolidation, currently in process with FINRA, is expected to be completed in the coming days. Upon completion, Music Licensing, Inc. Intends to move forward with retaining a broker-dealer or investment bank to administer the proposed buyback program. This proactive approach underscores the company's dedication to executing its strategic objectives in a timely and efficient manner.

"We are pleased with the outcome of our enforcement efforts and the favorable judgment received," said Jake P. Noch, Chief Executive Officer & Chairman of Music Licensing, Inc. "This achievement not only validates the strength of our licensing agreements but also positions us for further success as we continue to prioritize the interests of our artists, content creators, and shareholders."

Music Licensing, Inc. remains committed to upholding the highest standards of transparency, compliance, and accountability as it pursues its strategic initiatives and works to deliver value to its stakeholders.