Music Of Your Life Inc (OTCMKTS:MYLI) Rockets Higher

Music Of Your Life Inc (OTCMKTS:MYLI) exploded out of nowhere after a report from EmergingGrowth.com. What caught penny stock investors attention was the headline that the company was projecting $82 million in revenues as it transitions to a subscription-based business model. When you consider that its market cap is just around $1 million, you can see how investors would jump all over this.Music of Your Life is the longest running syndicated music radio brand in broadcasting history featuring the "Adult Standards" genre. The Company is expanding its channel lineup to include Rock, Country, Jazz, and others genres by way of its iRadio streaming Internet service. Music of Your Life Cruises began more than 15 years ago, presenting musical acts on voyages around the world.The market has been looking for an update from MYLI for quite some time. So far this year, there has been only one news release from the company and that's why penny stock investors jumped all over MYLI and the report from EmergingGrowth. In the news release put out, it said:

Broadcasting since 1978, the longest running syndicated radio company in the world, Music Of Your Life (OTCQB: MYLI), is in the midst of a transformation to high-growth digital, subscriber based radio which could be completed as early as December 2016. Revenues Projected at $82.4 million from its subscription internet radio business in the next 5 years. Additional revenue which can be generated will come from a partnership with Princess Cruises, which is owned by Carnival Corporation (NYSE: CCL). MYLI continues to broadcast classic rock, jazz, country, classic hits, and other music genres 24 hours a day across AM, FM, HD, and internet platforms. Currently, the company is syndicated across 35 AM and FM stations across the U.S., including New York, San Francisco, Seattle, and Florida. The transformation will include CEO Marc Angell working with A-List talent agencies to target high profile celebrities interested in having their own branded radio station. Among the celebrities being approached by Music of Your Life, Inc. (OTCQB: MYLI) are Bret Michaels, Keith Urban, Madonna, Sammy Hagar, Rob Lowe, George Forman, and several others. Music of Your Life, Inc. (OTCQB: MYLI)’s internet platform is called “iRadio” and is a registered trademark of the company.

Before this, MYLI announced in April that it was teaming up with Princess Cruises, owned by Carnival Corporation, for a series of cruises, beginning with an Alaskan passage departing Seattle, Washington on June 3, 2017, with stops in Juneau, Skagway, and Ketchikan, including an all-day scenic cruise of the glorious Glacier Bay National Park, with a final stop in Victoria, B.C., before returning to Seattle. The cruise trip includes performances by singer song-writer, piano-man, Tony DeSare, and Music of Your Life on-air host and singer, Steve March-Torme, as well as VIP treatment including swag bags, and an intimate evening with Steve sharing exciting stories about growing-up in Hollywood as the son of the legendary crooner, Mel Torme. MYLI CEO Marc Angell said:

"Music of Your Life has hosted many cruises over the years to the Bahamas, Alaska, the Pac-Rim and other exotic ports-of-call. As the economy slowed a few years ago, so did the cruise business. Cruising is now back better than ever, and thanks to the folks at Princess Cruises and Gregg Grey at Paradise Travel, so is the Music of Your Life Cruise. We're really excited about Tony DeSare and Steve March-Torme performing on-board for our listeners. These guys are incredible entertainers, and we're all in for a wonderful week of cruising in Alaska."

Currently trading with a market cap of $1.23 million, MYLI has turned into a microcap runner overnight on the back of a bullish report from EmergingGrowth. We believe we could see MYLI run higher over the next several days, but we urge caution as what's been stated in the research report has not been backed up by the company with a news release or any SEC filings. Matter of fact, the latest SEC filings leave a lot to be desired. For the year ending May 2015, MYLI reported $5k in revenues, a $368k net loss, $15k in cash, $223k in assets, and $387k in total liabilities. We will be updating Insider Financial as soon as we know more. For continuing coverage on MYLI, sign up for our free newsletter today and get our next hot stock pick!Disclosure: We have no position in MYLI and have not been compensated for this article.