LIG Assets Subsidiary SuiteMagic Closes Three Hotel Contracts; Filing of S1 for SuiteMagic Expected by End of December
DALLAS, Dec. 10, 2012 /PRNewswire/ -- LIG Assets, Inc. (OTCPK: LIGA) announces today that its subsidiary, SuiteMagic, Inc., has successfully closed three hotel contracts for its SuiteMagic technology that includes 243 rooms. Installations of its system are expected to begin soon. In addition, LIG Assets plans to file the S1 for public trading of SuiteMagic by the end of December 2012.
SuiteMagic President Brooks Pickering stated, "System sales by SuiteMagic, Inc. have accelerated and we are just beginning to see how strong this business model is." He continued, "We had a spectacular week last week with multiple sales closed, we are now closing sales outside Dallas."
The Company also announces it has begun the process of hiring Market Managers to maintain customer accounts and continue the process of developing a wide advertiser base. Mr. Pickering added, "Our solid commitment to both our hotel and advertising partners is critical and our Market Managers will provide the immediate customer support that will continue to set us apart. We are very excited to be moving ahead aggressively and will continue to bring the best talent to the team."
LIG Assets, Inc. plans to file its S1 by the end of the month to list the shares of its subsidiary SuiteMagic, Inc. independently. Chairman and CEO Jeff Love stated, "We have always believed that the SuiteMagic system would be a game changer and we will continue to expand and capture market share as aggressively as possible." He added, "Our goal is for SuiteMagic to be public within 60 days."
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.
About SuiteMagic, Inc.
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.
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).
LIG Assets, Inc.
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