DALLAS, April 17, 2012 /PRNewswire/ -- LIG Assets, Inc. (PINKSHEETS: LIGA) is pleased to announce that it has filed the necessary paperwork to receive "current" status at OTC Markets, including the attorney letter. The Company maintains transparency with its investors by keeping the filings current.
LIG Assets, Inc. has moved forward to hire five sales representatives to sell the software and equipment for its majority-owned subsidiary, SuiteMagic, Inc., and plans to hire two more representatives in the near future. The subsidiary, which focuses on the delivery of enhanced television suite offerings in the hospitality industry, is expected to generate more than $3 million in equipment placements and sales this year.
Additionally, the Company has plans to spin off SuiteMagic, Inc. into a public company, and issue a dividend to shareholders of LIGA. LIG Assets, Inc. will still retain a large percentage of SuiteMagic even after the spinoff. SuiteMagic's blend of hardware and software is used to monetize the exploding consumer trend towards a fully integrated Internet/TV experience for hotels.
Jeff Love, CEO of LIG Assets, Inc. stated, "We are enthusiastic over the potential of SuiteMagic, and we believe our shareholders will soon reap the benefits of this amazing business." He added, "We continue to be positive about our real estate portfolio that was acquired during depressed markets. We plan to deliver more updates of our ventures soon."
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, oil and gas investment transactions for others and its own account, and other various ventures.
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).
LIG Assets, Inc.
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