NASHVILLE, TN, April 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- LIG Assets, Inc. (LIGA) (also known as the "Leader in Green Assets" or "LIGA") announces it has released to shareholders its financial report for Fiscal Year ending on December 31st, 2018. This report may be found on the OTCMarkets.com at:
https://backend.otcmarkets.com/otcapi/company/financial-report/214954/content
The 2018 Annual Report posts Total Revenues of $4,239,748.00 and posting a small net profit for the year. The Company anticipates the current trend of increased revenues and net profits to continue in 2019 and beyond as the Company’s current revenue generating operations have invested heavily in various projects in 2018 that are now coming to fruition and this doesn’t take into account the real estate development projects and other value based opportunities that LIGA is developing.
LIGA President Marvin Baker stated, “We’ve taken a very different approach to building LIG Assets into a company that will last for years by financing our various projects with traditional financing vehicles. All of us have been very diligent in making LIGA work for the long term and all indication is that we’ll be able to keep up the current pace of growth with only the current revenue generating operations.” Baker continued “Once we can get the other opportunities with real estate and Robert Plarr’s technologies to market, LIGA’s upside in incalculable.”
LIGA’s CFO Doug Vaughn states, “Our management has been working extremely hard on multiple fronts. I am pleased to report that we have made great progress cleaning up various compliance items. In April 2018, all of our operating areas were converted to a common accounting platform and all accounting was brought in house. Our reviews made some changes to the 2017 results and by June 30, 2018, the financial review of all past results was complete, and now we have control of all accounting moving forward which will make the audit process much easier.” Vaughn continues, “While real estate projects such as ours almost always take longer than expected, the company is in a much better position than last year. We are working on other new projects in addition to Brentwood and Panama City Beach. Our current market capitalization only reflects the media business, which is capable of growing very nicely. The funding of the Brentwood project or the construction of the Panama City model home (which is funded) should substantially increase the value.”
In 2017, LIGA transitioned from non-revenue status to generating revenues. In 2018, LIGA started developing and investing into various projects that are now starting to materialize and have just started to generate revenue in 2019. LIGA Chairman Aric Simons stated, “Even though 2018 was the new Management team’s second year operating the company, we managed a small net profit in 2018 – a rarity in the OTC Market. 2019 will be the year that LIGA begins to achieve its goals and we will continue to be transparent and honest with their shareholders as we work toward having a very profitable year for all divisions and subsidiaries of the company. The company expects more major announcements over the next few months.”
LIGA plans to release an overview of the financial and operational updates to shareholders over the next weeks via the Company’s Shareholder Newsletter. Interested parties can subscribe for free to LIGA’s Shareholder Newsletter on the Company’s website www.LIGAHomes.com or www.LeaderInGreenAssets.com, and for instant updates and alerts follow us on Twitter.com/LIGASSETS
For more information about LIGA Homes visit - www.LIGAHomes.com or contact the Company directly at 833-LIGAHOMES
General inquiries: ContactUs@LIGAHomes.com
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.
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."
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:
Marvin Baker
President – LIG Assets, Inc.
CEO – BGTV Direct Worldwide Media Solutions
Email: Marvin@BGTVDirect.com
www.LeaderInGreenAssets.com
www.BGTVDirect.com