DALLAS, TX , Jan. 04, 2018 (InvestorsHub NewsWire) -- LIG Assets,
Inc. (OTC PINK: LIGA) (also known as the "Leader in Green Assets"
or "LIGA"), announces it has signed additional new and revised
board resolutions as well as officially confirming and further
recognizing several terms previously agreed to in the Company’s
Restructuring Agreement dated June 1, 2016. In addition to these
resolutions, LIGA reviews its primary accomplishments in 2017, and
provides an operational and corporate outlook for 2018.
New and Revised Board Resolutions signed January 3,
2018:
1. LIGA will be launching a new subsidiary in early 2018 that
will avail LIGA of a highly significant business opportunity that
we anticipate will result in a material and substantial positive
impact on our bottom line.
2. LIG Assets is currently finalizing plans to issue a stock
dividend for all LIGA shareholders of record in 2018. The
stock dividend will not increase nor dilute the outstanding
share count.
3. We are committed to the existing share structure; the total
authorized common share count will not increase above the current
level of 2.4 billion shares for at least two years or December 31,
2019 unless the Company’s common stock share price trades above .05
per share for at least 30 calendar days.
4. By means of Corporate Resolution, there will be no reverse
split of LIGA common stock before December 31, 2019 unless the
common stock trades above .05 per share for at least 30 calendar
days or in the event that LIGA is converted to list on NASDAQ
exchange for compliance with the minimum share price required by
NASDAQ to maintain active listing status.
5. We resolve to maintain that each share of Preferred Stock
will have only one voting share - the same that is currently set
for each share of common stock.
2017 Highlights:
1. LIGA launched a new subsidiary, LIG Developments,
LLC. and opened an office in Roanoke, Texas. LIGD was
awarded approximately $5.5 million in contracts in 2017. Some
of these projects are already near completion while others are
slated to commence in 2018.
2. The acquisition of BGTV Direct gave Lig Assets financial
stability to help expand the company into other sectors. BGTV
has been instrumental in the revenue growth of LIGA in 2017.
This allowed us us to take our time in establishing our new
subsidiaries, which will commence in 2018.
3. In 2017, LIGA completed the updating of financial reporting
to the OTC Markets, implemented several strategic management
changes, successfully resolved significant and burdensome
indebtedness issues, limited and in some cases cancelled share
issuances, and implemented shareholder protection restrictions on
preferred and restricted LIGA stock.
4. As reported on the OTC Markets website, LIGA has
continued to maintain the existing share status, A/S & O/S are
the same since the new management has taken control and is
preparing to file audited financials as soon as possible.
Also, LIG Assets, Inc. has updated all pertaining corporate
documentation and resolutions to the OTC Markets and the Secretary
of State in Nevada.
5. LIG Assets successfully settled a lawsuit with TCA Global
Credit Fund that reduced the Company’s outstanding debt incurred by
previous management by more than $750,000 with no dilution to
shareholders. It is important to note that in 2017 the
jurisdictional court has dismissed (with prejudice by consent
decree) the lawsuit. The old management agreed to pay over
half of the reduced settled amount leaving LIGA with only $220,000
in debt to be paid over the next two years. This settlement was
considered a win-win for all parties and allows LIGA to move
forward aggressively on its new business plan. LIGA has
successfully made every monthly settlement payment in 2017 and in
full, and as of January 2018 currently reduced its obligation to
TCA Global, the remaining balance is now $180,000.
6. LIGA has continued the Company’s collaboration with famed
environmental pioneer and visionary, Mr. Robert Plarr, to deliver
affordable, sustainable homes in select communities throughout the
United States. It is further noted that Mr. Plarr maintains a large
active database of interested parties that wish to purchase and
place non-refundable deposits for homes constructed by LIGA
that utilize Plarr approved green technologies and building
materials.
7. In June 2017, LIGA held its second Sustainability Impact
Conference in Nashville, TN where senior management and corporate
advisors detailed the Company’s technologies, products and vision
for the future.
8. Due in large part to LIGA’s new management team and expanded
operating structure, the Company in the 3rd quarter of 2017
reported double the Company’s revenues from the 2nd quarter of 2017
and surpassed $1 million in revenue for the first time in many
years.
9. In November, 2017, the Securities and Exchange Commission
filed indictments against an individual and corporation for
unlawful manipulation of LIG Assets and several other OTC
companies’ stock. LIGA plans to use a significant portion of
the proceeds to be returned to the Company to enact an open market
stock buy-back plan. You can read the full SEC indictment
@ https://www.sec.gov/litigation/complaints/2017/comp23992.pdf
10. LIGA reduced the conversion rate of the entire 50
million shares of Preferred Stock. The previous conversion rate was
one share of Preferred would convert to 50 shares of common stock.
Now, the conversion rate is one share of Preferred stock converts
to one share of common stock. This cancellation in potential
issuance of nearly 2.5 billion shares now protects the Company’s
shareholders and current share structure from potential and
substantial dilution.
11. LIGA has frozen over 100 million shares of stock in
reference to the SEC Indictments and will do so for the next 2
years and plan on retiring these shares and possibly others
once the SEC finishes their investigation. Any monies
received from ill-begotten gains, will be applied to share
buybacks, dividend and/or reinvesting in fiscally prudent new
projects that would produce a guaranteed minimum return of
investment
12. LIGA's stock price rose 600%, six-fold, in 2017.
On January 5, 2017, LIGA's share price started the year at a share
price of $0.0005 and ended the year at $0.003.
Doug Vaughn, Lig Assets CFO, states “In 2017, we acquired BGTV
as our first revenue producing entity to provide revenues not only
for the parent company LIGA, but also to help fund our second
subsidiary LIG Developments (LIGD based in the Dallas
Metroplex). This has been successful, and LIGD is now ready
to fulfill a $5.5 million backlog of light gauge steel framing
projects. Our Twitter feed (www.twitter.com/ligassets) shows the
start of the first two projects, and in 2018 other larger
contracts will commence. BGTV has recently landed new
contracts of approximately $5 million, and LIGD no longer needs the
‘startup funding’ from BGTV. Therefore we expect free cash flow to
be substantially better going forward. These developments have led
to serious opportunities for funding that will not require diluting
the common stock or give up any portion of the company. Any direct
investments will be into a specific project or future subsidiary,
and best of all, without any dilution of the stock.
“Due to the opportunities in other areas of the country that
Mother Nature presented to us, we decided to allocate our assets to
projects that offered the most revenue and profit for LIGA in the
shortest period of time. Long story short, we went with the
best revenue and profit opportunities that were in front of
us. Panama City is still a priority, but revenue and
profitability are the utmost importance to LIGA and to the benefit
of our shareholders. The Panama City beach home is still scheduled
to get started shortly, which should lead to significant
non-refundable deposits for Robert Plarr designed homes. We
appreciate Robert's understanding in this process, and he has a
large list of interested parties who will be touring the home upon
its completion. Nevertheless, LIGA is in discussions for multiple
developments utilizing Mr. Plarr’s technologies.” Doug Vaughn
continues, "We are grateful to all of our shareholders that have
realized that our company is different from other companies in the
OTC Market. Thanks to your support of our vision in building this
company, we expect a great return on investment to our
shareholders in 2018."
2018 Goals and Plans:
1. LIGA launched LIG Developments, LLC., headquartered in
Roanoke, Texas, and has been awarded approximately $5.5 million in
contracts. Some of these projects are already near completion
while others are slated to commence in the near future. LIGD has
received requests to bid on several other substantial projects and
expects to be awarded projects with additional gross revenues
exceeding $10M.
2. LIGA’s other subsidiary BGTV Direct is on par to report
record revenues for the month of January and has booked almost $5
million in contracts for 2018 and has launched a new west coast
sales office in Las Vegas, Nevada. If projections pan
out, the new sales office in Las Vegas could double the
companies current projected revenues in 2018.
3. LIGA aims to deploy state-of-the-art technology and
methodologies to bring sustainable and disaster resistant housing
and commercial developments to a price level that is competitive
with traditional construction. LIGA’s business plan is to provide
the average homeowner the ability to purchase a home in one of its
developments that is sustainable; thus significantly reducing
expenses for water and power. Additionally, LIGA will utilize
construction materials that exhibit the highest ratings of
moisture, mold, wind, earthquake, and fire resistance - and are far
less susceptible to aging decay associated with traditional
building materials. The Company's designs are not necessarily
intended for a niche market, but scalable for mass development
nationwide.
4. LIGA will begin construction of its first model home on the
Panama City Beach property and will serve to demonstrate and
incorporate all elements of the Company's innovative construction,
design, and technology. LIGA's architectural and design team has
produced renderings of many homes that are now being used to secure
new development projects.
5. LIGA is currently working to secure Agreements to participate
as a developer, in multiple real estate development projects across
the nation in 2018 for LIGA’s exclusive and revolutionary brand of
homes and structures. In addition, LIGA is entering into strategic
partnerships with material suppliers and manufacturers that will
greatly enhance corporate capabilities, operational efficiency and
net profitability as well as provide opportunities for rapid
Company expansion. This will be accomplished by acting not just as
a builder but more importantly as a developer of sustainable
communities, homes and "Post-Construct" upgrades for those who want
to make their current homes more sustainable and disaster
resistant.
6. LIGA is actively pursuing and developing projects in at least
six states that range from small scale high performance showcase
homes like the one in Panama City Beach, to much larger
residential/commercial community developments that involve
construction plans of over 1000 homes and ancillary structures
beyond those six states. LIGA is working with its partners and
advisors to value engineer its own brand of energy efficient, high
performance, disaster resistant residential and commercial units
that are priced and built for developing mass markets.
7. LIGA plans to continue working closely with Robert Plarr to
demonstrate, market and sell to his large database of interested
buyers as well as the general public, homes and commercial
developments that are truly sustainable, disaster resistant and
green – a first in the United States, while implementing many of
Mr. Plarr's most highly recommended and approved technologies and
building materials.
8. Through successful implementation of the Company’s business
plan and expanded management team of experienced sector
professionals, LIGA share value has increased from our original
starting point of $0.0001 to its current share price of
approximately $0.003 and LIGA will continue the Company’s
aggressive efforts to deliver additional significant gains to our
loyal shareholders that exceed even our wildest dreams.
Aric Simons, LIGA Chairman and Corporate Counsel, states, "The
ambitious plans for LIGA in 2017 have already commenced to become a
reality in 2018. This past year has seen our plans for growth
transform into tangible, revenue producing reality. 2018 will mark
the transformation of LIGA from a developmental company into a high
growth, profitable company that employs vertical and horizontal
integration to maximize operating efficiencies. The result will be
realized by the enhanced value of our shareholders equity and make
LIGA a household name and industry leader in the months and years
ahead. I would like to personally express my gratitude to our
shareholders, many of whom have actively participated in the growth
of our Company by presenting valuable opportunities and
resources. I truly believe we have the greatest base of
investors in the OTC market and we will continue to work tirelessly
to ensure that investment is rewarded beyond that of any company in
the OTC market."
On behalf of Lig Assets, Inc's management, we plan on fulfilling
our vision of building Lig Assets into the leader of sustainable
building that will benefit our shareholders in 2018 and beyond.
Sincerely,
Aric Simons - Chairman
Allan Gillis - CEO
Charles Gambino - President
Doug Vaughn - CFO
About LIG Assets, Inc.:
LIG Assets, Inc. in association with Robert Plarr is the
emerging "Leader in Green Assets" -- focused on exclusive green,
renewable energy and sustainable and disaster resistant homes,
living systems, technologies and components to be utilized in the
residential and commercial real estate acquisition and development
projects currently under way and now individual product sales, as
well as rapid expansion into other sectors via acquisitions,
mergers and joint venture partnerships. LIG Assets, Inc. trades on
the pink sheets under the ticker symbol "LIGA."
For additional information about LIG Assets, Inc., Robert Plarr,
and/or how to purchase our exclusive homes, structures, products
and technologies or to subscribe online to LIGA's free Shareholder
Newsletter for regular updates and alerts regarding important
Company developments Please visit the Company's website
at www.LeaderInGreenAssets.com -- also follow LIGA at
Twitter.com/LIGAssets.
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 on file
at www.OTCMarkets.com.
Shareholder/Investor inquiries can be directed to:LIG Assets, Inc.Aric SimonsCEOEmail: Aric@LIGAssets.net
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