Followers | 548 |
Posts | 8227 |
Boards Moderated | 4 |
Alias Born | 10/23/2016 |
![](https://investorshub.advfn.com/uicon/580570.png?cb=1482357415)
Monday, February 26, 2024 3:50:46 PM
NOTE 7 – CONVERTIBLE NOTES PAYABLE
“Executive Salary: The agreement provisions for an annual salary of $12 million for Jake P. Noch. This salary arrangement is primarily financed through the issuance of shares under the 3(a)(10) exemption, thereby minimizing cash outflows for the company.”
“On June 25, 2023, Music Licensing Inc. entered into an Employment Agreement with Jake P. Noch, appointing him as Chief Executive Officer, Chairman of the Board of Directors, President, Secretary, and Interim Chief Financial Officer. The Agreement outlines various terms of employment, including duties, compensation, and termination provisions.
Compensation to Mr. Noch is structured in the form of a convertible note, allowing him to receive shares worth twelve million dollars ($12,000,000.00) upon conversion. The note remains valid until Mr. Noch realizes the full amount, and additional shares may be added to the convertible note as necessary. The timing of payments under this agreement is at the discretion of Mr. Noch and can be received in various increments (monthly, quarterly, or annually). Upon conversion of the note, the beneficiary of the shares may be either Mr. Noch or the Jake P. Noch Family Office LLC.
As of December 31, 2023, the total amount of the convertible note is $12,308,525 which compromises the annual salary amount of $12,000,000 and the total payments of $308,525 toward acquiring assets and payment of expenses from Jake P. Noch Family Office LLC.“
Does any of this make sense? I used to be here but the CEO …seems a bit …off.
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
- DaBaby and Stunna 4 Vegas's "NO DRIBBLE" Joins Music Licensing, Inc.'s Portfolio • InvestorsHub NewsWire • 06/07/2024 02:15:00 PM
- Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • InvestorsHub NewsWire • 05/17/2024 03:00:00 PM
- 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
FEATURED North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • Jul 18, 2024 9:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM
HealthLynked Expands Telemedicine Nationwide • HLYK • Jul 17, 2024 8:00 AM