Industry Market Leader Pro Music Rights, Inc. (OTC: NUVG) Announces Q2 2022 Results with $432,579,903 in Assets with Significant Share Value Increase
PR97524
Industry Market Leader Pro Music Rights, Inc. (OTC: NUVG) Announces Q2 2022 Results with $432,579,903 in Assets with Significant Share Value Increase for Shareholders
NAPLES, Fla., Aug. 23, 2022 /PRNewswire=KYODO JBN/ --
Pro Music Rights, Inc. (OTC: NUVG), one of the world's largest music licensing
companies, today announced financial results for its second quarter ended June
30, 2022 with its quarterly report which can be found at EDGAR (
)
Logo - https://mma.prnewswire.com/media/728013/Pro_Music_Rights_Logo.jpg
Assets increased to $432,579,903 for the 2nd Quarter of 2022 from $323,562,671
reported EOY 2021, an increase of $109,017,232 in total assets Q to Q bringing
book value to $0.12 per share, bringing immediate value to shareholders of at
least 128.8% in overall asset and book value, as of the closing price of the
Company's common stock at $0.053 on August 22.
Pro Music Rights currently generates revenue by licensing the musical works in
its repertory.
Pro Music Rights granted earlier in the Quarter the well-known video service
TikTok a license that will allow its users to create videos which include music
from Pro Music Rights' extensive repertoire. The agreement will enable TikTok
to offer PMR's more than 2,500,000 works to its users.
About Pro Music Rights, Inc. (ProMusicRights.com (
)
Pro Music Rights the 5th public performance rights organization (PRO) ever
formed in the United States. Its licensees include notable companies like
TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and hundreds of others.
Pro Music Rights controls an estimated market share of 7.4% in the United
States, representing over 2,500,000 works that feature notable artists such as
A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty,
MoneyBaggYo, Larry June, Trae Pound, Sause Walka, Trae Tha Truth, Sosamann,
Soulja Boy, Lex Luger, 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, Fall Out Boy, and
countless others. For more information, please visit promusicrights.com (
).
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 Pro Music Rights, Inc. to accomplish its stated plan
of business. 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. or any
other person.
SOURCE Pro Music Rights, Inc.
CONTACT: investors@ProMusicRights.com
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