LIG Assets, Inc. Updates Progress of LIG Entertainment
DALLAS, May 6, 2013 /PRNewswire/ -- LIG Assets, Inc. (OTCPK: LIGA), a Company focused on residential and commercial real estate, announces that the following update on its division, LIG Entertainment Management, Inc. Based on initial interest from several parties in its "two film" movie deal, parent Company LIG Assets, Inc. estimates that it will enjoy profits of over $1 million, and the number is likely to surpass the total market capitalization of LIG Assets stock based on its most recent closing price.
On January 10, 2013, LIG Assets announced it had formed a new subsidiary to assist with the finance of low budget movies with the assistance of State Grants established to encourage filming it its home state of Texas. Even though this division is not the focus of LIG Assets and will not be in the future, it appears that it is now positioned to generate a strong return from the production of two feature length films.
LIG Entertainment Management, Inc. in association with Legacy Film Studios of Texas and Back in the Saddle Productions, LLC (BITS) has wrapped principal photography on their independent feature "HOA The Movie" in the greater San Antonio, Texas area. This is the first of a "two film" deal. Their second feature, "The Water's Edge", with only a few more days of filming, is also already into post-production. All post-production services are being handled by Bauhaus Media Group of San Antonio. Edwin Licona of Emerge Filmworks has signed on to consult on distribution and marketing.
These new films feature Daniel Baldwin (Vampires, Homicide, Hawaii Five O), Jesse Borrego (Blood in Blood Out, Con-Air, Colombiana), Mayra Leal (Machete, Southland, Asylum), and European fitness girl Kristen Wojciechowski making her feature film debut. Both pictures are scheduled to be available for release by this summer (2013).
"HOA The Movie" is a film in the comedic vain of Caddy Shack and Animal House. Written by newcomer, John Quest, the story follows Lucky Bets and his fellow "new" HOA board members in their madcap attempts to not take the blame for money missing from the HOA bank account. Having been set up by the "old" board to take the hit for their wrongdoing, Lucky and his band of misfits must come up with a con of their own to get even and stay out of jail. John Quest is also credited as co-director for the film.
"The Water's Edge" is a project previously produced, that LIG Entertainment is resurrecting, restructuring and redirecting to bring it back to life and into the marketplace. This film is believed to have significant merit, but for one reason or another was unfinished or an unfulfilled project. "The Water's Edge" is based on an original award winning script about a family beat down by a series of traumatic events. The dark tone of the story and some of the technical limitations due to budgetary restraints ultimately bogged the project down.
About LIG Assets, Inc.
LIG Assets, Inc., (LIGA) 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, and office properties with valuations between $3 and $100 million. LIG Assets also owns LIG Entertainment Management, Inc., a division formed to help finance low budget movies filmed in the State of Texas.
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 and disclosures at www.OTCmarkets.com.
LIG Assets, Inc.
SOURCE LIG Assets, Inc.