Music Licensing Inc (SONG)

[trader59]

@Tz3sports here's your questions for the event tomorrow:

In this report initially issued for 2020 and 2021, the company showed accounts receivable of $107,281,764 and $323,387,126. How much of that has actually been collected after invoicing 2-3 years ago? Later revisions to the report for these years suggest that none of it was successfully collected.
https://www.otcmarkets.com/otcapi/company/financial-report/344113/content

In comments received on the S-1/A registration statement for the stock awarded to the insiders, the SEC questioned the practice of claiming the accounts receivable above but characterizing it as deferred revenue. In response to the comments, both were removed in a revision to all the uploaded financials (example below) and the PR below was issued. Why has the company returned to similar accounting practices claiming $100's of millions of revenues that the collection history would suggest are, at best, grossly exaggerated?
https://www.otcmarkets.com/stock/SONG/news/Music-Licensing-Inc-Enhances-Financial-Transparency-and-Compliance-with-Balance-Sheet-Amendment?id=386354
https://www.otcmarkets.com/otcapi/company/financial-report/361988/content

If we were to assume the company could actually collect on those revenues, how much of it would be owed to the artists whose works are what's actually being paid for by the streaming services? Why is that payment not shown on the financial statements?

What is it that you do that the company saw fit to award a $12M promissory note as an annual salary?