MusicSource USA Inc.: The company is moving...
MusicSource USA Inc.: The company is moving out of Orange County and all of its corporate officers have resigned, the firm announced Tuesday.
The Newport Beach company, which makes computerized retail kiosks for dispensing sheet music, said it is moving its corporate headquarters to New York.
Dale Jacobs, MusicSource’s chairman, chief executive officer and president, resigned on Tuesday. Also, Kevin Weeks stepped down from his position as co-chairman, chief operating officer, secretary and treasurer. Both Jacobs and Weeks will remain on MusicSource’s board of directors.
Bill Valenziano resigned as the company’s vice president and board member.
MusicSource said it has agreed to sell 12.5 million shares of its stock to JNC Holdings Corp. for $500,000. That represents more than 80% of the company’s outstanding shares, which would give control to JNC.
MusicSource would not comment further on the changes or the move to New York.
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