LIG Assets, Inc. Acquires Stock from Minority Owner of SuiteMagic, Inc. and Now Owns All Shares except Those Issued in Recent Stock Dividend
DALLAS, July 13, 2012 /PRNewswire/ -- LIG Assets, Inc. (OTCPK: LIGA) is pleased to announce today that it has bought out its major minority shareholder in SuiteMagic, Inc. and owns all of the shares not distributed to LIG shareholders in its dividend distribution made in April. SuiteMagic, Inc. remains a subsidiary of LIG Assets, Inc.
"This advantageous development allows SuiteMagic, Inc. to focus on new initiatives to bring the hospitality industry the latest products and services," said Jeff Love, President of LIGA. "We intend to gain a competitive advantage by bringing innovative pricing and terms to the market."
As part of its initiatives, SuiteMagic, Inc. plans to change its name to M-Suites, Inc. in the near future and offer an innovative new line of hardware and software. Plans also include partnering with well-known and respected names in technology and communications to offer a dynamic combination of products and services. LIG Assets, Inc. continues to assemble an experienced and aggressive sales force.
SuiteMagic is a technology entertainment services company providing internet-based TV and Cable programming, interactive game content, and goods and services. It will deploy hardware and software to create an enhanced television suite of offerings that combine the best of HD TV, the Internet, PC functionality and VOD. The product provides hotel guests with an all-encompassing in-room experience while allowing hoteliers to monetize the rapidly growing consumer trend towards a truly Internet-integrated TV experience.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a multi-faceted worldwide investment company that focuses on real estate, oil and gas, technology, and entertainment. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA".
For additional information, please visit LIG Assets corporate website: www.ligassetsinc.net.
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 with the U.S. Securities and Exchange Commission (SEC).
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