Music Licensing Inc (SONG)

[RMS555]

well the CEO of SONG is no longer trying to sue FINRA, im pretty sure he knew he would lose:

On March 25, 2024, Music Licensing, Inc. (OTC: SONG) instructed its legal counsel to withdraw the legal action filed against FINRA. This action was initiated to seek a declaratory ruling requesting FINRA to process the Reverse Stock Split. Music Licensing, Inc. firmly believes that FINRA will imminently process the stock split. Upon the occurrence of the Stock Split, Music Licensing, Inc. anticipates being able to execute its growth strategies through the continued acquisition of royalty-generating Intellectual Property (IP).

Music Licensing, Inc. recently acquired royalty interests in Listerine "Mouthwash" Antiseptic on February 22, 2024, and has previously acquired royalty interests in musical works by industry luminaries such as Elton John, Miley Cyrus, Lil Wayne, Lil Nas X, XXXTENTACION, and Halsey. The company is confident that upon the successful processing of the reverse stock split in the near future, it will be able to utilize the reimbursement clauses within our CEO's Court-approved 3(a)(10) arrangement to finance further acquisitions of royalty-generating IP.

Management envisions scaling these acquisitions of royalty-generating IP to achieve positive cash flow for the company, enabling it to cover operational costs and fund additional acquisitions for sustained growth. Furthermore, management intends to implement a long-term Buy-Back program once the company achieves self-sustainability, utilizing a percentage of cash flows from these acquisitions to counteract the potential dilutive effects of the court-approved 3(a)(10) arrangement held with Jake P. Noch and Jake P. Noch Family Office, LLC.

While acknowledging that dilution in any form is not favorable to shareholders, management believes that the long-term benefits outweigh the negatives. The reimbursement process under the court-approved 3(a)(10) arrangement does not accrue interest and necessitates pre-payment for assets by Jake P. Noch / Jake P. Noch Family Office, LLC before seeking reimbursement through the court-approved arrangement.

This withdrawal of legal action against FINRA underscores Music Licensing, Inc.'s confidence in the imminent processing of the Reverse Stock Split and its commitment to executing its strategic growth initiatives

(bold emphasis mine) http://archive.fast-edgar.com/20240326/A722MQ2CLM22UZ8L222M2ZY2F5GHC222Z262/

Funny, now there will be a Buy Back once SONG is profitable! So after the CEO gets his $12 million paycheck and after bonuses paid to the Board of Directors, there will be a Buy Back. This CEO is on a good one still!