Music Licensing Inc. SONG CEO Announces Massive Share Cancellation to Boost Shareholder Value

In a significant announcement on November 10, 2023, Music Licensing Inc. SONG, a trailblazer in the global music industry, disclosed a strategic decision that promises to reshape its market stance. Jake P. Noch, the CEO, has taken a bold step to cancel an extraordinary number of common stock shares, amounting to 59.9% of the current outstanding shares—a move that aspires to strengthen the company’s financial position and deliver substantial value to its shareholders.

CEO’s Commitment to Share Reduction

With the initial cancellation of 1,566,945,290 common stock shares, Music Licensing Inc. laid the foundation for a robust financial restructuring. Mr. Noch’s subsequent commitment to cancel an additional 1,197,364,785 shares is set to further reduce the total outstanding shares significantly. This reduction of almost 60% signals a promising future with potential for growth and stability, positively impacting the earnings per share, investor confidence, and the company’s overall prospects.

Impact on Shareholder Value

The company’s strategic decision is primarily aimed at enhancing shareholder value. Through this substantial share cancellation, earnings per share are projected to increase, potentially making SONG a more attractive investment option. Mr. Noch’s action is indicative of the company’s firm resolve to prioritize its investors' interests and to work towards creating a resilient and lucrative financial environment for all stakeholders.

About Music Licensing Inc.

Music Licensing Inc., operating under the ticker SONG, also known as Pro Music Rights, stands as the 5th public performance rights organization in the United States. With its extensive repertoire, the company commands a 7.4% market share and represents a diverse array of artists spanning various genres. Pro Music Rights continues to empower artists and lead the way in fostering creativity, signaling a brighter future for music rights management.

Music, Licensing, Shares