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Saturday, July 23, 2022 9:50:39 PM
Plan of Operation
While we have generated revenue from operations, such revenue does not appear to be recurring and various downstream customers have failed to continue payments under their respective agreements. As reflected in our audited balance sheet for the period ended December 31, 2021 and 2020, our accounts receivable are $323,387,126 and $107,281,764, respectively, and deferred revenues of $323,387,126 and $107,281,764. Our plan of operation for the 12 months following the offering the subject of this prospectus is to continue growing our business in the United States by seeking (i) partnerships to grow our repertory, (ii) songwriters, composers and publishers to contribute musical works to our repertory, and (iii) downstream customers to enter into per location or per service licensing agreements with us. We further intend to seek collection on the outstanding accounts receivable. While the Company intends to minimize its operational expenses, the Company does not believe it can satisfy its cash requirements through the fiscal year end of December 31, 2022 or thereafter without collecting on its outstanding accounts receivable. If the Company is unable to collect a significant percentage of its outstanding accounts receivable by December 31, 2022, the Company will likely have insufficient funds to continue its operations, expend resources on marketing or advertising, and otherwise maintain its information systems. Lastly, in such event, our songwriters, composers and publishers may seek to rescind their grants of public performance licenses or otherwise terminate their agreements with us, substantially impacting the Company’s ability to operate as a going conern.
I swear I’ll never use the phrase “you can’t make this stuff up” ever again after being on the OTC. Apparently you can.
Recent SONG News
- Form 1-U - Current Report Pursuant to Regulation A • Edgar (US Regulatory) • 06/20/2024 01:20:53 PM
- Form 1-U - Current Report Pursuant to Regulation A • Edgar (US Regulatory) • 06/17/2024 07:00:02 PM
- Form 1-U - Current Report Pursuant to Regulation A • Edgar (US Regulatory) • 06/17/2024 03:46:16 PM
- Form 1-U - Current Report Pursuant to Regulation A • Edgar (US Regulatory) • 06/17/2024 01:21:07 PM
- Form 1-U - Current Report Pursuant to Regulation A • Edgar (US Regulatory) • 06/17/2024 10:01:21 AM
- Form 1-U - Current Report Pursuant to Regulation A • Edgar (US Regulatory) • 06/13/2024 03:33:52 PM
- Form 1-U - Current Report Pursuant to Regulation A • Edgar (US Regulatory) • 06/11/2024 02:23:48 PM
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