Followers | 80 |
Posts | 5250 |
Boards Moderated | 1 |
Alias Born | 11/18/2013 |
Friday, August 19, 2022 9:37:55 AM
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 through August 2023 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 has a good faith belief it can monetize certain accounts receivable through the fiscal year end of December 31, 2022. 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 concern.
Recent SONG News
- Music Licensing, Inc. (OTC: SONG) Secures Intellectual Property Rights for Listerine "Mouthwash" Antiseptic • InvestorsHub NewsWire • 02/22/2024 02:00:00 PM
- Music Licensing, Inc. (OTC: SONG) Highlights Milestones and Market Impact in 2023 Year-End Audit • InvestorsHub NewsWire • 02/16/2024 03:30:00 PM
- Music Licensing, Inc. (OTC: SONG) to Provide Shareholder Update and Financial Statements for Year-End 2023 • InvestorsHub NewsWire • 02/06/2024 02:45:00 PM
- Music Licensing, Inc. (OTC:SONG) Alleges Corruption at Jamaica Stock Exchange • InvestorsHub NewsWire • 02/02/2024 02:30:00 PM
- Music Licensing, Inc. (OTC: SONG) Receives Inquiry Regarding Sale of Subsidiary, "Pro Music Rights" • InvestorsHub NewsWire • 01/12/2024 02:00:00 PM
- Major Triumph: Music Licensing, Inc. (OTC:SONG) Secures Coveted Royalty Stakes in Masterpieces by Elton John, Miley Cyrus, Lil Wayne, Lil Nas X, XXXTENTACION, & Halsey • InvestorsHub NewsWire • 11/27/2023 02:00:00 PM
- Music Licensing, Inc. (OTC:SONG) Announces Q1 2023 Financial Results • InvestorsHub NewsWire • 05/15/2023 12:00:00 PM
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