NAPLES, Fla., March 29, 2021 /PRNewswire/ — Professional Music Rights (“PMR” or the “Firm”), a efficiency rights group representing over an estimated 2,000,000 musical works of songwriters, composers and publishers, as we speak offered standing updates on prior agreements with Internet Financial savings Hyperlink, Inc. (OTC: NSAV) (“NSAV”) and China Meals and Beverage Firm (OTC: CHIF) (“CHIF”).
- On March 1, 2021, PMR and its founder, Jake P. Noch introduced that it had reached a settlement with NSAV in reference to beforehand reported litigation. At this time, PMR and Noch introduced that they consider NSAV’s representatives, Mr. Stephen Jacob Posner and Mr. James A. Tilton, have made Fraudulent Misrepresentations, whom Professional Music Rights, Inc. and Noch intend to find out their private legal responsibility for each the Fraudulent Misrepresentations and as Guarantors of the $487 million promissory word by NSAV as a part of a earlier settlement settlement between the events.
- The Firm additionally introduced that it’s evaluating its choices relating to China Meals and Beverage Firm administration’s breach of contract and breach of the implied covenant of excellent religion and honest coping with respect to a $176 million promissory word dated September 30, 2020. CHIF administration just lately communicated to the Firm that it is going to be in default of the word by failing to make the preliminary quarterly curiosity fee on March 31, 2021.
Mr. Noch, Professional Music Rights’ Founder and CEO, stated, “Though we’re disillusioned, we’re presently reviewing with authorized counsel all potential choices and treatments and can aggressively pursue the recoupment of any and all obligations and funds with respect to those agreements and notes.”
About Professional Music Rights, Inc.
Professional Music Rights, Inc. is a efficiency rights group representing over an estimated 2,000,000 musical works of songwriters, composers, and publishers, and collects license charges on behalf of the songwriters, composers and publishers with whom it’s affiliated after which distributes 100% of the license charges as royalties to these songwriters, composers, and publishers whose musical works have been publicly carried out. For extra details about Professional Music Rights or to obtain its repertory, please go to: https://promusicrights.com/.
SOURCE Professional Music Rights, Inc.