Music Licensing Inc (SONG)

[Diogenes of Sinope]

FORM 1K SEC FILING FROM LAST WEEK;

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12196184

Our total operating expenses which consist of stock-based compensation, payroll, organization costs as well as attorney fees, accounting fees, and other administrative expenses associated with setting up our operations amounted to $9,657,429 and $425,370 in the years ended March 31, 2017 and 2016, respectively. Our total operating expenses increased by $9,232,059 in 2017 compared to 2016. The increase was due to stock-based compensation in the amount of $8,790,923 recorded for vested services to our COO.

Net Loss

Our net loss for the year ended March 31, 2017 was $9,728,110 compared to a loss of $375,270 for the year ended March 31, 2016. The increased net loss of $9,352,840 was due to stock-based compensation amounting to $8,790,923 as described above.