Music Licensing, Inc. (OTC: SONG) (OTC: SONGD) Announces Implementation of 1-for-500,000 Reverse Stock Split and Reduction of Outstanding Common Shares
MUSIC LICENSING INC (SONG)
Company Research
Source: GlobeNewswire
Naples, FL, May 19, 2024 (GLOBE NEWSWIRE) -- Music Licensing, Inc. (OTC: SONGD) today announces a significant milestone in its corporate restructuring, as the company prepares to execute a 1-for-500,000 reverse stock split effective May 20, 2024. This strategic move is aimed at optimizing shareholder value and enhancing the company's financial position. Following the reverse stock split, Music Licensing, Inc. will have approximately 6,004 Common Shares outstanding, a substantial reduction from its previous count. The temporary change in the company's stock symbol to (OTC: SONGD) for approximately 20 days reflects this transition period. As part of the reverse stock split, fractional shareholders will be provided with a cash payment in lieu of a round-up of fractional shares., in accordance with the company's disclosures in its SEC filings. This demonstrates Music Licensing, Inc.'s commitment to fairness and transparency in its corporate actions. Based on the May 17th, 202
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