DALLAS, Jan. 28, 2014 /PRNewswire/ -- LIG Assets, Inc.
(OTCPK: LIGA), a Company focused on residential and commercial real
estate, announces that it was an exhibitor at the 2014 Dallas-Fort
Worth Real Estate Investor Expo from Friday,
January 24th through Sunday, January 26th. The REI
Expo is the nation's leading real estate investing trade show and
educational event designed to provide a platform for education,
networking, and training. LIG Assets says attendance at the
show and its booth was brisk.
LIG Assets continues to implement a turn around. The interim CFO
added in August 2013, has pushed LIG
Assets to continue to reduce unnecessary spending, incentivize
revenue production, clean up its balance sheet, prepare timely
financial reports, and focus on transactions that will generate
strong profits. The Company has also instituted a freeze on
new common share issuances and has not issued any new common shares
since early September, 2013.
LIG Assets has activated new asset based lending agreements and
has purchased at least 10 single family homes in Texas over the past few months. Remodels
or upgrades to these homes have been completed. The Company
plans to greatly increase activity over the near-term, and has also
recently secured additional sources to finance its purchase of
discounted single family homes.
It remains a key objective of the Company to reduce the interest
rate on its large, older portfolio of single family homes.
Previously, it was announced that the balance on this portfolio was
reduced to $14,094,000, and it was
estimated that the current market value of that portfolio was over
$20 million. A reduction on
this rate would significantly enhance cash flow for the
Company.
Finally, LIG Assets would like to address some older issues.
- The transaction involving a casino-hotel in Cripple Creek, CO has closed
successfully.
- A movie partially funded last year by LIG Assets is expected to
be completely edited and available for sale beginning in the first
quarter, 2014.
- The office near Austin, TX has
been closed as part of its cost cutting efforts and all obligations
related to that office have been satisfied. Open deal flow
generated from that office has been referred to the Dallas office.
LIG Assets and its management appreciate the patience from its
loyal shareholders during its turn around, and hopes to make 2014
its best year ever.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas,
TX, is a Company focused on residential and commercial real
estate. Through its alliances with hedge funds, mortgage
brokers, and hard money lenders, LIG Assets plans to expand its
residential portfolio and increase commercial property
transactions. LIG Assets, Inc. currently trades on the pink
sheets under the ticker symbol "LIGA". For additional
information, please visit LIG Assets corporate website:
www.ligassetsinc.net.
Forward-Looking Statements
This press release may contain forward-looking statements. The
words "believe," "expect," "should," "intend," "estimate,"
"projects," variations of such words and similar expressions
identify forward-looking statements, but their absence does not
mean that a statement is not a forward-looking statement. These
forward-looking statements are based upon the Company's current
expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements are risks that are
detailed in the Company's filings, which are on file at
www.OTCMarkets.com.
Contact Information:
LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
Email: Richard@ligassetsinc.net
Investor Relations: IR@pricetargetmedia.com
Phone: 214-760-1000
SOURCE LIG Assets, Inc.