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Music Licensing, Inc. (SONG) / Pro Music Rights Updates Standard Industrial Classification Code to 6189 - Asset-Backed Securities, Formalizing Its Structured Finance Identity
SIC Reclassification Reinforces Company's Publicly Disclosed Strategy to Securitize Licensee Agreements, Copyright Infringement Claims, and Litigation PortfolioMiami, Florida--(Newsfile Corp. - May 29, 2026) - Music Licensing, Inc. (OTCID: SONG) ("Music Licensing" or the "Company"), also known as Pro Music Rights, today announced that it has officially updated its Standard Industrial Classification ("SIC") code to 6189 – Asset-Backed Securities on the OTC Markets Group platform. The...
About this update from Music Licensing, Inc.
[{"type":"text","content":"SIC Reclassification Reinforces Company's Publicly Disclosed Strategy to Securitize Licensee Agreements, Copyright Infringement Claims, and Litigation Portfolio","length":164,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Miami, Florida--(Newsfile Corp. - May 29, 2026) - Music Licensing, Inc. (OTCID: SONG) ("Music Licensing" or the "Company"), also known as Pro Music Rights, today announced that it has officially updated its Standard Industrial Classification ("SIC") code to 6189 – Asset-Backed Securities on the OTC Markets Group platform. The reclassification formally aligns the Company's market and regulatory designation with the structured finance strategy it disclosed publicly on May 10, 2026, and represents a natural progression of the Company's previously announced Strategic Transformation.","length":628,"tagName":"p"},{"type":"text","content":"SPV Structure and Asset Scope","length":29,"tagName":"p"},{"type":"text","content":"As disclosed in the Company's May 10, 2026 press release, Music Licensing is actively exploring and intends to form a Special Purpose Vehicle ("SPV") — structured in an internationally recognized jurisdiction — designed to securitize a diversified portfolio of revenue-generating and claim-based assets. The assets targeted for securitization include licensee agreements, copyright infringement claims, and the Company's broader litigation portfolio, which together represent a range of cash flow-generating and recoverable economic interests held by the Company and its wholly owned subsidiary, Pro Music Rights.","length":641,"tagName":"p"},{"type":"text","content":"The SPV is intended to repackage these obligations and assets and issue them as Asset-Backed Securities ("ABS") and/or Structured Notes on a recurring, programmatic basis. The Company has disclosed its intention to target listings on international exchanges, as well as placements into the 144A and Regulation S markets, enabling distribution to qualified institutional buyers and non-U.S. persons under applicable exemptions from registration under the Securities Act of 1933, as amended.","length":499,"tagName":"p"},{"type":"text","content":"The Company additionally notes that it is actively exploring whether it may util...