DALLAS, April 24, 2012 /PRNewswire/ -- LIG Assets, Inc. (LIGA.PK) is pleased to announce that has been notified by FINRA OTC Corporate Actions that it is now authorized to pay its stock dividend in SuiteMagic, Inc. The record date is set for Monday, April 30, 2012 and the payment date will be May 4, 2012. The rate will be one (1) restricted share of SuiteMagic, Inc. to be issued for every three (3) shares held of LIGA.
It is estimated that LIG Assets, Inc. will still retain 45% of SuiteMagic even after the dividend is distributed. Globex Transfer is the distributing transfer agent of the SuiteMagic shares.
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.
Jeff Love, CEO of LIG Assets commented, "SuiteMagic is very similar to what LodgeNet Interactive offers and that Company's stock that trades north of $4 per share. Based on our research, SuiteMagic offers more services, higher margins, and a superior overall product."
Mr. Love continued, "The potential growth of SuiteMagic is staggering, but it is important that we maintain our primary focus in revenue producing real estate properties. Our real estate assets were all purchased following the financial meltdown in 2009 or more recently. We want our shareholders to recognize our focus is on producing assets of smartly acquired properties, and developing the potential revenue from buildings under construction."
About LIG Assets, Inc.
LIG Assets, Inc. (LIGA.PK) is in the early stages of anticipated growth, arising from its business focus on arranging the purchase and finance of real estate, investment transactions for others, and on its own account.
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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