LIG Assets, Inc. Files Annual Report with OTC Markets and Provides Shareholder Update
DALLAS, April 10, 2013 /PRNewswire/ -- LIG Assets, Inc. (OTCPK: LIGA), a Company focused on residential and commercial real estate, reported it filed the end of year 2012 Financial Statement with OTC Markets. The status with OTC Markets now shows OTC Pink Current Information. The Company reported net equity of $8,485,932 and the issued and outstanding shares at 99,911,100 for a net book value of .0849 per share.
The management at LIG Assets remains positive about its Strategic Alliance with Texas Real Estate Hedge Fund, LP, MMR Realty Advisors, and InterContinental Real Estate Partners that is focused on commercial properties including multifamily, retail, hotel, casino, and office with valuations between $3 million and $100 million. The Strategic Alliance was formed in December, 2012.
Yesterday, LIG Assets announced that it will partner with one of the most respected consulting groups in gaming throughout the world, The Gillmann Group, LLC. This relationship was forged through introductions from the Strategic Alliance.
Early in the first quarter of 2013, The Strategic Alliance completed its initial transaction with Terry's Supermarket and plans to help the grocery chain open a total of 10 locations for its new premium concept. A 20 year lease was signed for the first location, and additional potential locations have been identified. The Strategic Alliance continues to view that anticipated profit from turnover and/or leases is significant, and the opportunities to take positions in distressed and special situations are fantastic.
LIG Assets CEO Jeff Love stated, "LIG Assets is actively involved in a number of large transactions with the Strategic Alliance at various stages. The Company prefers not to announce specifics about these transactions for competitive reasons and until we reach a point of near certainty they will close. It is our goal to report significant closings in the current operating quarter that will end June 30, 2013." Mr. Love added, "We appreciate patience from our shareholders while we work to complete the transactions involving the Strategic Alliance as well as our own real estate projects."
It is noted that LIG Assets also recently acquired the majority interest of another publicly traded Company symbol THCB and filed to change the name of that Company to South American Properties. The plan is to acquire and develop real estate properties and other income producing assets located in South America with more specific focus on the country of Peru.
Year-end statements included a valuation of LIG Entertainment Management, Inc. (LIGE) at $1.2 million. This division was started to assist with the finance of movies in Texas. The increase in valuation was attributed to progress of its first movie "HOA: The Movie" starring Daniel Baldwin. Although it is anticipated that LIG Assets will make a significant return on its investment in this and one more movie, the Company plans to focus on its core real estate business.
For those that wish to see Daniel Baldwin on a TV show appearance to discuss the movie, you can visit: http://www.dailymotion.com/video/xwzfgx_hoa-the-movie_news#.UWTEE-jn-Uk
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas, TX, is a Company focused on residential and commercial real estate. Through our Strategic Alliance with Texas Real Estate Hedge Fund, MMR Realty Advisors, and InterContinental Real Estate Partners, LIG Assets will expand its focus on multifamily, retail, hotel, casino, and office properties with valuations between $3 and $100 million.
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).
SOURCE LIG Assets, Inc.