$LIGA News - LIG Assets Posts Record Revenues for March 2018 of Nearly $500,000, Helping the Company to Eclipse the $1 Million Revenue Mark for Q1
GLOBENEWSWIRE 10:46 AM ET 4/3/2018
NASHVILLE, TN, April 03, 2018 (GLOBE NEWSWIRE) -- LIG Assets, Inc.(LIGA) (also known as the "Leader in Green Assets" or "LIGA"), is proud to announce the Company had record revenues in the month of March of nearly $500,000, helping the company easily eclipse the $1,000,000 revenue mark for the first quarter of 2018. This is the result of increases in deposits for the Company almost every month since new management assumed corporate and operational control of LIG Assets, Inc.(LIGA) in early 2017. LIGA anticipates this trend of increasing quarterly growth continuing steadily for the next several years as the Company's Brentwood project is coming online and LIGA continues to move forward effectively implementing the business plan while achieving its objectives.
Chairman Aric Simons states, "This has been an exciting year for LIGA as we see our business plan leap from paper into tangible assets and revenue projections shattered by an even greater reality. To be clear though, management is not celebrating our achievements; this represents but the early phase of our development. We will work harder than ever to achieve growth that will dwarf the gains we made in 2017. In addition, we will continue to move forward with intensified resolve to become fully reporting as we move rapidly toward our goal of upgrading from our current OTC market position to our ultimate goal of NASDAQ. LIGA is dedicated to our corporate mission of sustainability, proving that sustainable growth is good for our world and good business too.”
Chairman Simons continues “I want our shareholders to know how much we value their continued support for LIGA - you are the most valuable asset of LIGA. To that end, we have taken firm action to ensure that the integrity of the share structure is sound and that any unfair trading practices or manipulations have and will continue to be aggressively prosecuted to ensure our stock is traded pursuant to the laws and standards expected in this and every reputable market. Our revenue and profitability are sure to grow substantially but our Authorized Shares will not under any circumstances! To the contrary, our plan is to consolidate outstanding shares through buy-back programs by LIGA and our larger shareholders but not through any reverse share split. LIGA is a new and revolutionary company in the OTC Market: we believe in transparency, we believe in taking bold actions and then reporting it - not the typical dreamy reporting of plans that never materialize so often in the OTC. LIGA wants our shareholders and investors to not only be satisfied with their return on investment, but to be proud to be a part of LIGA. I am so humbled and grateful to be surrounded by such a talented, creative and effective management team and what I sincerely believe to be the best shareholder base to be found in this or any other market.
Chief Financial Officer Douglas Vaughn states, “Since accepting my position in late July 2017, we have made excellent progress installing new accounting software and reviewing the previous balance sheet. I am currently working with a PCAOB registered tax and auditing firm to review the previous year’s results in order to maximize our tax loss carry forward. We expect substantial profits from the Brentwood TN project and want to receive the maximum IRS allowable tax benefit. It is important to point out that no new shares were issued during 2017 and we expect a very stable share count moving forward, with a good faith effort to actually reduce the share count. Any potential equity infusion will be into a subsidiary, not the parent company. We take our responsibility to be transparent very seriously and will produce reports so that investors can make informed investment decisions.”
The Public Company Accounting Oversight Board (PCAOB) is a private-sector, nonprofit corporation created by the Sarbanes–Oxley Act of 2002 to oversee the audits of public companies and other issuers in order to protect the interests of investors and further the public interest in the preparation of informative, accurate and independent audit reports. The PCAOB also oversees the audits of broker-dealers, including compliance reports filed pursuant to federal securities laws and to promote investor protection. The Sarbanes-Oxley Act requires that auditors of U.S. public companies be subject to external and independent oversight with four primary functions in overseeing these auditors: registration, inspection, standard setting and enforcement.
LIG Assets’ Chairman of the Board, Aric Simons, states, “LIGA’s monthly revenue growth is based on a solid foundation that ensures sustained success as our business plan continues to be implemented with outstanding results. Management has strategically invested our available resources in a manner that maximizes the return without mortgaging the future financial well being of the Company. Further, one of our top priorities is to become a fully reporting entity in anticipation of transcending out of the pink sheets into a market with higher accountability standards. Our management sees no reason to wait as we continue to execute our business plan. Our core business and all of our subsidiaries are working hand in hand so that we can realize economies of scale through vertical and horizontal integration. And as always, our investors and shareholders have once again proven that they represent our greatest asset. Our base combined with the top-tier management group that I witness executing their duties at the highest level on a daily basis gives me reason to believe that LIGA is a special, unique company that will grow for years to come in a way unseen in this market.“
BRENTWOOD DEVELOPMENT:
The Company’s planned phase 1 of the residential subdivision development project to construct a total of 42 upscale single-family residences in Davidson and Williamson Counties, Tennessee is proceeding ahead of schedule and the Company will provide a more detailed progress update in the very near future. LIGA’s management team continues to negotiate future development opportunities with investors, developers and partners.
As stated in the Company news release on February 1st, LIG Assets(LIGA) has already closed on the $1,000,000.00 total purchase price with $150,000 submitted on the closing date. The properties deed was procured with a structure that ensures financial success of the development. Phase 1’s projected gross revenues upon completion of the 42-unit upscale residential subdivision is expected to exceed $28 million dollars with individual homes priced between $599k to $1 million+. Total projected gross profit for just the undeveloped land parcels is $7,100,000.00. In addition, LIGA Homes has the option to procure the adjacent 30-acre lot with identical terms.
About LIGA Homes:
LIGA Homes unique residential and commercial developments utilize specially designed and manufactured recycled "element resistant" steel framing, in addition to toxic free magnesium oxide building materials and panels that are 100% mold, fungus, termite and rot resistant and fire resistant against temperatures up to 3500 degrees Fahrenheit as well as famed environmentalist Robert Plarr's exclusive "maximum rated" R-60 insulation -- combining to create disaster resistant materials and structures that can withstand up to a 7.5 magnitude earthquake and sustained gale force winds up to 175 MPH while negating damage caused by rain and flood exposure. With the addition of Plarr's green and renewable systems and products, LIGA Homes is now capable of providing affordable, fully sustainable and disaster resistant living environments – LIGA Homes is at the forefront of this new and improved direction for the green, sustainable and construction sectors.
For more information about LIGA Homes visit - www.LIGAHomes.com or contact the Company directly at 833-LIGAHOMES
General inquiries: ContactUs@LIGAHomes.com
About LIG Assets, Inc.(LIGA)
LIG Assets, Inc. (LIGA) 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.(LIGA) trades on the pink sheets under the ticker symbol "LIGA."
For additional information about LIG Assets, Inc.(LIGA), 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.
Contact:
Shareholder/Investor inquiries can be directed to:
LIG Assets, Inc.(LIGA)Aric Simons
Chairman
Aric@LigAssets.netImage: Primary Logo
Source: LIG Assets, Inc.(LIGA)
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