SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Except for historical information, this prospectus supplement, the accompanying prospectus and any documents we incorporate by reference contain forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Such forward-looking statements include, among others, those statements including the words “believes,” “anticipates,” “expects,” “intends,” “estimates,” “plans,” and words of similar import. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements are based on our current expectations and assumptions regarding our business, potential target businesses, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore that you should not rely on any of these forward-looking statements as statements of historical fact or as guarantees or assurances of future performance. You should understand that many important factors, in addition to those discussed in this prospectus supplement, the accompanying prospectus and any documents we incorporate by reference, could cause our results to differ materially from those expressed in the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include changes in local, regional, national, or global political, economic, business, competitive, market (supply and demand) and regulatory conditions and the following:
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our ability to raise capital when needed and on acceptable terms and conditions;
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our ability to attract and retain management with experience in digital media including digital video music streaming, and similar emerging technologies;
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our ability to negotiate, finalize and maintain economically feasible agreements with the major and independent music labels, publishers and performance rights organizations;
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our ability to attract prospective users and to retain existing users;
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our expectations regarding market acceptance of our services in general, and our ability to penetrate the digital video music streaming market in particular;
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the scope, validity and enforceability of our and third-party intellectual property rights;
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our ability to comply with governmental regulations and changes in legislation or governmental regulations affecting us;
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the intensity of competition in the markets in which we operate and those that we may seek to enter;
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the effects of the ongoing pandemic caused by the spread of COVID-19 and our business customers’ ability to service their clients in out of home venues that have limited their public capacity;
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changes in the political and regulatory environment and in business and fiscal conditions in the United States and overseas;
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our dependence upon third-party licenses for sound recordings and musical compositions;
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our lack of control over the providers of our content and the providers’ ability to limit our access to music and other content;
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our ability to comply with the many complex license agreements to which we are a party;
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our ability to accurately estimate the amounts payable under our license agreements;
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the limitations on our ability to reduce operating costs due to the minimum guarantees required under certain of our license agreements;
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our ability to obtain accurate and comprehensive information about music compositions in order to obtain necessary licenses or perform obligations under our existing license agreements;