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
23 August 2022 - 10:00PM
InvestorsHub NewsWire
NAPLES, FL -- August 23, 2022 -- InvestorsHub
NewsWire -- 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
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.
Contact:
Jake P. Noch
promusicrights.com
+1 833-227-7683
investors@ProMusicRights.com
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