After wiping out all that "Accounts receivable" and "deferred income" crap from the balance sheet at the prompting of either OTC Markets or the SEC, they return to showing millions as accounts receivable that they claim to be owed but don't ever collect on. Meanwhile, they made about $40k of real cash for a quarter.
When the OTC won't jump in and help with the narrative, and especially when a side company of the CEO has 750M shares registered and ready to sell, you know nobody's falling for it.
Appears to be. Right now the CEO has 750M shares of his own registered and free trading, doesn't seem to mind the very low volume. Nobody on the OTC seems to be interested in jumping in on the pump with that looming overhead.
Is this Stock Only for Suckers that are Fine with Losing A Lot of Their Money?
It Seems that This Stock is Dead.
"Jake P. Noch has been working on AI-based music since as early as 2017"
It's strange that the press-releases posing as interviews with him from 2017, when he was only 18 and still at high school, make no mention of AI-based music. Instead he was still pretending he was an ex-drug dealer and claiming how much money he'd made from his music.
So, their S-1/A went effective, selling 2.5B shares (750M of them belonging to the CEO) for $.03. Good luck with that with a volume of just over 4k shares today.
Those 750M shares the CEO is selling also appeared on a Form 144 today. Not sure why, but it sure sticks out.
Lame attempt to get in on the latest buzzwords. AI generated music, can't wait to see the computer in concert...
You did see this company wants to sell stock, right? $75M of it at $0.03? 750M of the 2.5B shares to be sold are by Jake P Noch (the CEO) Family office...
Thanks for posting that. Awesome news.
Been holding this for a long time....
Sure would be nice to get even...and maybe even make some.
'Music Licensing, Inc. (OTC:SONG) to Enhance AI-Based Music with ChatGPT Technology'
Looks like the smokescreen accounting has become an issue. Claiming $432M of "accounts receivable" and then taking it off the balance sheet as "deferred income" was likely drawing unwanted regulatory attention... Now it'll be a footnote. The dumpster fire continues:
It does seem so much to be fluff. The Company appears to be merely a conduit to run payments through, where very little of the payments is actually paid to Music Licensing Inc, and almost all of the $432 Million Dollars or so goes to the Musical Artists.
It seems to be very misleading when they mentioned $432 Million Dollars, at first look. More Important is the need for Music Licensing Inc to Answer the Question: "How Much of the $432 Million Dollars" remains in Music Licensing Inc?
Also, regarding the lawsuit, it doesn't seem to be a realistic case that the Plaintiff has pursued as it seems that the Plaintiff appears to be Scapegoating OTC Markets instead of taking responsibility for Not doing enough Due Diligence before jumping in on the Investment.
But then again, maybe Plaintiff has a Good Case where OTC Markets should be more on top of monitoring, and preventing misleading information from being disseminated to the Public to Protect Investors.
It's fluff. Won't make a bit of difference down the road. If you look at the company's balance sheet with that $432M of "accounts receivable" (products/services rendered but not yet paid for) offset by $432M of "deferred income (products/services paid for, but not yet rendered), even the whole of the OTC isn't buying the smokescreen or willing to join in. Plus every news they issue is either about stock machinations or a new lawsuit. Makes it easy to stay far far away.
You make a Good Point...though maybe by introducing SONG to more potential Investors, Globally, it could generate nice share price increases for SONG Shareholders down the road?
It’s over in Europe, isn’t it? What good does that do?
It's NOT the NASDAQ for Big Companies but rather "Nasdaq First North Growth Market" for "Small and Medium-Sized Growth Companies"
"Nasdaq First North Growth Market is a Multilateral Trading Facility (MTF) with SME Growth Market status and does not have the legal status of a regulated market. Regulated market is a term used in the Markets in the Financial Instruments Directive (MiFID) and are markets authorized by national competent authorities."
Many refer to Nasdaq First North Growth Market as an "Alternative Exchange"
Here, in this link below, are some examples of Companies listed in this type of Alternative Exchange:
That is exactly why I'm laughing at this stupidity SONG.
They aren't uplisting. That's just typical OTC rhetoric, and "exploring" a FS on a stock already trading in the pennies sure isn't going to get them anywhere near the listing criteria.
I'd love to see them put in an application, though. That'd be fun. Would love to see them explain to NASDAQ how they have $432M of "accounts receivable" offset with $432M of "deferred income."
In a forward split, more shares are created while the market cap remains the same. So no value is gained or lost but each share is worth less money than before.
Normally, Nasdaq uplist minimum bid price is $4/share. Is that the same for Nasdaq First North Growth Market? Will creating more shares make it harder to uplist?
Ever notice how all their "news" is either about messing with the stock or about a new lawsuit or arbitration?
OMG - they are not going to do a forward split... this describes a REVERSE SPLIT. Are they all idiots?
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.
Agree that It sure doesn't seem that the Lawsuit will Go Anywhere.
This Stock Wil Probably Die.
(Again We Wish for Great News and for the Stock to Go Up in Value. It just doesn't seem like it's Going Anywhere...It just seems to be Doomed)
The lawsuit, I assume, is the action they filed against OTC Link, and it isn't going anywhere. They bought a shell to "merge" into, and it is up to the buyer to do their due diligence and make sure everything is good. The only possible lawsuit they'd have would be against the seller if something was purposely hidden or misrepresented, but that should also be covered in warranty clauses (assuming they didn't screw that up, too) of the acquisition agreement and liability would be limited to the purchase price.
Therefore SONG Expected to Slip Down Even Further...Downward Spiral...Be Ready!
RE: Stock Symbol: SONG - It's GOING DOWN!
(Not Financial Advice, and We Don't Wish for SONG to Go Down...Just Saying, Based on Nothing Impressive Seems to Be Happening Now, or Doesn't Look Like Much Ahead to Look Forward to...Unless the Lawsuit Goes Well which could make SONG Massively Surge Upward)
And... they've filed a registration to sell 2.5B shares at 3 cents per, and still talking about doing a FS because, well, I guess because other OTC companies have gotten successful pumps from FS news.
When the OTC considers your stock risky and un-pump-worthy, it's a sign.
You know these kids love trips. They don’t understand share structure. They just want more shares
So, now we're talking about a 30:1 FS on a stock trading for 4 cents (driving the PPS down near trips) because....?
And, we're filing an arbitration against OTC link for booting them to the expert market because the financials were hosed in the NUVG days. Pretty sure FINRA is gonna tell him he should have done his DD...
It’s hilarious how bad this dude is
A day after getting off the expert market, this company tosses up a Reg A offering that INCLUDES all the stock that was awarded to the owners of Pro Music Rights so that they can be sold/dumped. It registers an aggregate of $75M (not a typo) of stock at a PPS of $0.0064 per share (current PPS is $0.0309, $22M of that is the stock that the company insiders awarded to themselves.
And they think folks are going to buy into that crap, even the most imaginative OTC newbs are going to see straight through it.
Probably the same reason they had to withdraw their S-1 offering, auditor probably bowed up on their questionable accounting, putting in $432M of "accounts receivable" and then turning around an taking it back off the balance sheet as "deferred income." Can't do that.
They are under SEC reporting regulation A, they did filled a form 1-K annual report, BUT it didn't include audited financials, because they said it couldn't be audited in time, but that was 2 months ago, and still nothing, therefore it doesn't satisfy the disclosure obligations. pic.twitter.com/9cYQ6JlLiB— 🧠📖MaxInvestor89🕵️ (@MaxInvestor89) September 28, 2022
Keeps getting better...
Booted to the expert market for delinquent SEC reporting. Not exactly sure why, but I'd bet the RM invalidated the information in the previous annual report, and they filed a quarterly on the OTC Markets showing the full year Pro Music Rights that was unaudited.
Like watching a dumpster fire.
It’s all nonsense though because the float is still good and he’s not diluting. Weird raise there with no explanation. I’m not saying people will care anytime soon, but it was getting to a nice price for the float.
Nothing seems to be going on, ergo No Volume.
Also, it seems Pretty Silly How the Assets Mainly Comprised of Accounts Receivable of about $432.5 Million Dollars which is about the Same as the Deferred Income (Liability)
The Announcement of the Value Per Share (0.12 per share, right?) doesn't seem to have Integrity as it Ignores the Liability Portion which essentially Offsets the Assets Portion.
We Feel that NUVG is No Way Near Worth 0.12 per share, and that the Press Releases Seems, In Our Opinion, to Be Misleading...NUVG Seems to be Worth Much Less than 0.12 per share.
Can anyone Prove Otherwise?
If Yes, Please Speak Up...as We would surely appreciate some Clarity and Correction of Our "View from the Cheap Seats".
First, PMR tried to do an S-1. I looked through the original and revisions, and they hadn't put in the 2 years of audited financials that are required. They withdrew that S-1.
Then they did a Reg A offering to sell some stock to somebody.
Then they decided to RM into this shell. When they published their financials, they showed $432M of "accounts receivable" offset by $432M of "deferred income" on the balance sheet. Accounts receivable are usually amounts owed to the company for services/products delivered and billed, but not yet paid for. Deferred income is usually where someone has paid in advance, but the company hasn't yet delivered the products or services. To show receivables for products/services you have not delivered isn't OK, and the amounts are humorous, at best. It's no wonder the financial reports remain unaudited.
NUVG is sitting at 6 cents, and the CEO awarded himself 3.5B shares, or $210M worth, for his ownership in a company that had real income of $35k for the quarter published.
It's no wonder even the OTC isn't buying this.
Meh. Wouldn’t really give it that much credit because no one gives a shit about this anymore. Look at the dollar volume. The worst ones are the ones where they just keep buying up the dilution and refuse to admit that’s what it is. This is just sitting in one spot.
oh boy. I retired from Bashing as contrary to popular belief it does not pay well. Matter of fact it does not pay at all.
This one brings back so many memories of all the grandiose ones of ridiculous revenues etc. I think it 270 Million market cap
320 million in sales and 300 Million in assets,
here is the reality. This is all complete utter bullshit. seen 100 of these and 100 were a lie
So one pinky sues another pinky (and a dead one at that) and wins barely enough to cover their lawyers, then tweets about the big news that it is.
At least it’s consistent.
The otc doesn’t give a shit about market cap
Because nobody believes that crap.