Music Licensing Inc (SONG)

[DawgTrading]

$SONG Sup casper... possible nice trip play here... what happened with cctl : (

[Egg-whites]

Sup

[trader59]

Yeah, "we're fixin' to get ready to prepare to consider thinking about it...."
The only thing you ever see from this CEO is new pumps about the stock, never a thing about the company. He inhabited this shell thinking the OTC was easy, then awarded gobs of stock to himself and more to the insiders. He was fluffing up his balance sheet, showing $100's of millions of accounts receivable offset by the same figure of deferred revenue, and the SEC had to tell him to stop that crap. They did that in the comments for the registration he was doing to register those gobs of stock so it could be dumped into the market. Once that was done, you start seeing stuff about some arm of NASDAQ over in Europe, then a Jamaican exchange, then suing OTC markets because the shell was bad, now suing them because they won't let him off the expert market, all while the 2.7B shares held by him and the other 750M shares held in his "family trust" are ready to sell to anybody buying. When you can't get the OTC pumpers to engage because they see the story is bad and behind it is gobs of stock ready to be sold, then you need to reconsider the story you're telling. Now he's taken to fluffing up his financials again, shows "accounts receivable" again that he knows he ain't gonna collect on, no way to know if there's any income at all.

[StockSlayer33]

SONG moving, book value 0.0127. Just annonced 2.7 bill canceling/or retiring of shares, great news!

[trader59]

Just read through the last 50 or so posts here.

[madcasper]

nice tip off from twitter @ 0005
$SONG

[Coniba]

Bought song SONG on the volume. Looks thin to me

[Coniba]

Who is saying a penny?

[PlaceboJeffect]

Thanks. Looks like you were right.

[PlaceboJeffect]

Burned too much lately. Give me the negatives. Why are people saying 1 penny? (Other than the typical pumping)

Thanks

[trader59]

Somebody is playing with the stock today. Don’t get trapped.

[PENNY DIPZ]

WEEEEEEEEE!!!!!!!

[PENNY DIPZ]

WOW 8’s are up now!!!! CONGRATULATIONS TO EVERYONE THAT LOADED 4’s!!!!

[trader59]

SMH
https://promusicrights.com/news/music-licensing-inc-otc-song-pursues-386-6-million-in-damages-from-otc-link-llc-a-wholly-owned-subsidiary-of-otc-markets-group-otc-otcm-holding-firm-in-pursuit-of-accountability/965735906032018021657

[trader59]

81 cents worth of stock today...

[trader59]

Good work if you can get it... CEO gets $12M per year...

https://www.otcmarkets.com/filing/html?id=16760936&guid=yXD-kKDt7oePB3h

[trader59]

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.

[trader59]

Guess this OTC thing isn't their thing... Down to about $60 a day in stock sales.

[trader59]

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.

[GratziPrego]

Is this Stock Only for Suckers that are Fine with Losing A Lot of Their Money?

It Seems that This Stock is Dead.

[trader59]

And now the 750M shares the CEO has for sale are free trading shares.
Buyer beware....

[P-Rawl]

"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.
https://thesource.com/2017/05/11/miamis-brick-god-sosa-releases-yop-sticks/

[trader59]

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.

[trader59]

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...

[billy12]

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.

[Rainer]

'Music Licensing, Inc. (OTC:SONG) to Enhance AI-Based Music with ChatGPT Technology'

https://www.otcmarkets.com/stock/SONG/news/Music-Licensing-Inc-OTCSONG-to-Enhance-AI-Based-Music-with-ChatGPT-Technology?id=388693

[trader59]

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:

Music Licensing, Inc. Enhances Financial Transparency and Compliance with Balance Sheet Amendment

Naples, FL - Music Licensing, Inc. (OTC:SONG) is excited to announce that it will be amending its balance sheet to make the financial statements compliant with US Generally Accepted Accounting Principles (US GAAP) following a call with the Securities and Exchange Commission (SEC). The company expects to update its statements by removing the Accounts Receivable (A/R) and the corresponding offsetting liability of the A/R (deferred revenue) from the balance sheet.

The company would like to inform its shareholders that the following will be added as a footnote to the amended financial statements:

"The Company has signed Business License Agreements with 408 Customers as of December 31, 2021 to license, on a non-exclusive basis, non-dramatic public performances of their copyrighted musical compositions. After signing the agreements, and based on the agreement terms, the company issues invoices to its customers for Minimum and Base License Fees and Per Usage Fees based on the number of business locations. The company has not recognized the revenues in the financial statements as there is a doubt about the collectability of those revenues, and shall need legal action to determine the collectability percentage. Total amount of unrecognized revenues was $107,281,764 and $323,387,126 as of the end of 2020 and 2021 respectively."

The company would like to assure its shareholders that it is taking all necessary steps to ensure that its financial statements are accurate and compliant with US GAAP. The company will continue to fully enforce its licensing agreements and will book funds collected from the Music Licensing, Inc. agreement as revenue once payments are received or amounts are recovered from legal proceedings.

"We are excited about this amendment as it provides us with the opportunity to enhance our financial transparency and compliance with US GAAP, while also highlighting our commitment to collecting the revenue due to us," said Jake P. Noch, CEO of Music Licensing, Inc.

The company expects to release the updated financial statements within the next 30 days. Shareholders and investors are encouraged to visit the company's website for any updates or additional information.

[GratziPrego]

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.

[trader59]

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.

[GratziPrego]

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?

[trader59]

It’s over in Europe, isn’t it? What good does that do?

[GratziPrego]

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"

https://www.nasdaq.com/solutions/nasdaq-first-north-growth-market

Here, in this link below, are some examples of Companies listed in this type of Alternative Exchange:
https://www.nasdaqomxnordic.com/aktier/listed-companies/first-north

[loanshark007]

That is exactly why I'm laughing at this stupidity SONG.

[trader59]

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."

[foxi]

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?

https://www.investopedia.com/ask/answers/what-stock-split-why-do-stocks-split/

https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5500-series

[loanshark007]

"Potential Forward Stock Split or Dividend, and Plans to List on Nasdaq"

No shortage of LOL's in OTC land.

[trader59]

Ever notice how all their "news" is either about messing with the stock or about a new lawsuit or arbitration?

[Drugdoctor]

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.

[GratziPrego]

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)

Best Wishes,
Gratzi

[trader59]

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.

[GratziPrego]

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)

Any Thoughts?

Best Wishes,
Gratzi

[trader59]

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.

[cruecu]

You know these kids love trips. They don’t understand share structure. They just want more shares

[trader59]

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...

https://t.co/pyOQuc7exI

[Renee]

Nuvus Gro Corp., NUVG, changed to Music Licensing Inc., SONG:

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[GratziPrego]

Anyone here feel that the NUVG Stock Price Will Fly Up Soon? Lol!

Best Wishes,

Gratzi

[cruecu]

It’s hilarious how bad this dude is

[trader59]

Clueless...
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.

https://www.otcmarkets.com/filing/html?id=16166574&guid=56z-kn_HezzAc3h

[trader59]

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.

[Gurlik]

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

one reason may of course be the lack of an audit of the financial report