Naples Florida, Feb. 02, 2024 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC:SONG) is taking a stand against corruption within the Jamaica Stock Exchange, shedding light on alleged misconduct by certain parties. Contrary to baseless accusations, Music Licensing, Inc. has neither initiated legal threats nor engaged in defamatory campaigns. Instead, the company aims to rectify the narrative surrounding recent defamatory statements released by the Jamaica Stock Exchange and other implicated parties.
On January 29, at 4:53 PM EST, Music Licensing, Inc. (OTC:SONG) issued a preservation notice, adhering to its commitment to transparency and legal obligations. As a publicly traded entity in the United States, the company promptly filed a Form 1-U with the United States Securities and Exchange Commission on January 30, 2024, disclosing its intent to pursue legal action against specific parties, including “Shaunna-Kay Carter, Novia Cotterell, Earl Chapman, Maurice Wright, Ian McNaughton, Marlene Street, Cumax Wealth Management, Jamaica Stock Exchange Limited.”
The core issue revolves around alleged misconduct, ranging from attempted extortion for bribes to misappropriation of funds, fraudulent representations, wire fraud, and mail fraud. Music Licensing, Inc. (OTC:SONG) remains steadfast in its commitment to ethical and lawful practices.
The impediment to the company’s expansion into Jamaica’s music publishing and intellectual property sector stems from the actions of the aforementioned parties. The attempt to extort bribes has hindered Music Licensing, Inc. from listing on the Jamaica Stock Exchange, as the company adamantly refuses to partake in immoral practices, in compliance with the Foreign Corrupt Practices Act in the United States.
In response to misappropriation of funds and fraudulent representations, Music Licensing, Inc. (OTC:SONG) has retained representation to initiate legal proceedings. The company’s legal representation in this matter is Davy Karkason Esq. from Transnational Matters (www.transnationalmatters.com). Music Licensing, Inc. is determined to pursue these individuals and entities to the fullest extent of the law. Furthermore, the company is exploring all potential lawful avenues, including filing arbitration with the International Centre for Settlement of Investment Disputes and pursuing legal action in federal court within the United States.
About Music Licensing, Inc. (OTC: SONG) (ProMusicRights.com)
Music Licensing, Inc. (OTC: SONG) a diversified holding company, also known as Pro Music Rights, is the 5th public performance rights organization (PRO) to be formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works that feature notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sause Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as Artificial Intelligence (A.I.) Created Music. Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in musical works by artists such as Elton John, Lil Nas X, Miley Cyrus, Lil Wayne, XXXTentacion, Halsey, and numerous others.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.
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SOURCE: Music Licensing, Inc.
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