Custom technical prospectus

BMI × Kell

Not an offer to sell securities · not affiliated with BMI or ASCAP · prospectus.txt

1. Subject

PRO ops · publisher/label composition desks · dual-PRO (BMI+ASCAP) licensees. Reference: BMI (bmi.com) — composition performance royalties.

2. Market facts (public)

FY2022	collect ~\$1.573B · distribute ~\$1.471B
catalog	~22.4M works
pay	quarterly · often 6–9 month lag · 50/50 writer/publisher
peer	ASCAP = separate catalog + blanket
out of scope	mechanicals · sync · sound-recording performance

3. Problem (ops \$)

play-row match/allocate at pool scale
sample vs census gaps → miss/dispute
lag float on ~\$1.5B-class pools
dual-PRO admin for one physical world
member churn vs peer PROs

4. Offering (tech)

Kell private / zero-egress path:

a	match/allocate mill (door-backed bus)
b	dense ingest + compress hot buffer
c	deterministic run receipts for close/dispute
d	machine APIs (ms / brain / DATESTAMP)
receipts	259,093 MT/s memcpy · 360,800 MT/s pack · 0.0°C · ms.html

5. Save

match	lower \$/event
ingest	less drop/reprocess
lag	shorter close · less float
disputes	fewer reopen hours
dual PRO	shared private compute

6. Make

find plays	more attributable events · stickiness
licensee SKU	proof-of-use / compliance product
label desk	paid master↔composition reconcile
reciprocal	faster foreign-society handoff
retention	defend catalog share

7. Structure (options)

A	ops pilot — one match lane · door receipts · fixed term
B	licensee product — white-label proof-of-use
C	dual-PRO co-op compute
D	label/publisher desk API

Terms under NDA · usage or seat · not listed here.

8. Limits

Not a PRO license substitute. Does not collect or replace BMI/ASCAP royalties. Does not grant mechanical, sync, or master rights. Fleet numbers are door-backed / published — buyer witness separate.

9. Contact

[email protected] · fact sheet · mirror txt