NASHVILLE, TN, Jan. 04, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – LIG Assets, Inc. (OTC PINK: LIGA) (also known as the "Leader in Green Assets" or "LIGA"), announces it will report over a million dollars in revenue in 2022. Since taking over LIG Assets in 2017, LIGA’s current management has produced over $20 million in deposited revenues and generated a minimum of $1 million in revenue every year since 2017 and expects to do the same in 2023 or better.
The following Wall Street Journal link, https://www.wsj.com/market-data/quotes/LIGA/financials/annual/income-statement, shows the progress of LIGA’s annual revenue. The year before 2017, LIG Assets under old management only produced $5,000 in revenue in 2016.
LIGA has invested over $2 million in cash into other companies and its subsidiaries that are working on many deals that will improve LIG Assets bottom line. With a new year upon us it is time to review the primary accomplishments in 2022, and provide an operational and corporate outlook for 2023.
2022 Highlights:
1. LIGA worked on building out its subsidiaries LIG Developments and LIG Properties. LIGA is finalizing several acquisitions and joint ventures for these subsidiaries.
2. LIG Assets implemented several strategic management changes to align a new board of directors with the business plan moving forward. We successfully resolved significant and burdensome indebtedness issues, limited and in some cases canceled share issuances, and implemented shareholder protection restrictions on preferred and restricted LIGA stock.
3. As reported on the OTC Markets website, LIGA, since 2017, has continued to maintain the existing share status, A/S & O/S are basically the same since the new management has taken control and is preparing to file audited financials as soon as possible.
4. LIGA has frozen over 100 million shares of stock in reference to the SEC Indictments and plan on retiring these shares and possibly others once the SEC finishes their investigation. Any monies received from ill-begotten gains, will be applied to share buybacks, dividend and/or reinvesting in fiscally prudent new projects that would produce a guaranteed minimum return of investment.
5.) LIG Assets has been involved in merger discussions with multiple parties, some of which are much larger.
6.) By means of Corporate Resolution, we had submitted the paperwork for a reverse split of LIGA common stock before December 31, 2022. Unfortunately, the law firm had some personnel issues therefore we replaced them and are in the process of refiling the paperwork with FINRA. Implementing the reverse split opens the opportunity for mergers with much larger companies.
2023 Goals and Plans:
1. LIGA is in final negotiations to acquire in early 2023 a company that will avail LIGA of a highly significant business opportunity that we anticipate will result in a material and substantial positive impact on our bottom line.
2. LIGA plans on expanding LIG Developments and LIG Properties headquartered in Nashville, Tennessee, and has been working on acquisitions and contracts. Some of these potential deals and acquisitions are already near completion while others are slated to commence in the near future.
3. LIG Assets plans to spin off BGTV Direct to help expand the company into other sectors once these acquisitions mentioned above are completed. BGTV has been instrumental in the revenue stability of LIGA in 2022. BGTV Direct is working on several million-dollar contracts for 2023 and is expanding its west coast sales office in Las Vegas, Nevada. If the new deals pan out, the sales office in Las Vegas would double the company’s projected revenues in 2023 and greatly increase BGTV’s profit margins.
4. LIGA's still working to deploy state-of-the-art technology and methodologies to bring sustainable and disaster resistant housing and commercial developments to a price level that is competitive with traditional construction. LIGA’s business plan is to utilize some of these current JV's and acquisitions to provide the average homeowner the ability to purchase a home in one of its developments that is sustainable; thus significantly reducing expenses for water and power.
5. In late 2022, LIGA was approached to partner on the Panama City Beach property and potentially serve to demonstrate and incorporate all elements of the Company's innovative construction, design, and technology.
6. LIGA is currently working to secure Agreements to participate as a developer in multiple real estate development projects in the Midwest in 2023. In addition, LIGA is entering into strategic and sales partnerships with material suppliers and manufacturers that will greatly enhance corporate capabilities, operational efficiency and net profitability as well as provide opportunities for rapid Company expansion.
7. Upon completion of the reverse split, negotiations with merger partners (some much larger) will accelerate.
Marvin Baker, LIGA Chairman and President states, "The ambitious plans for LIGA in 2023 are already progressing. 2022 will mark the transformation of LIGA from a developmental-holding company into a profitable company that employs vertical and horizontal integration to maximize operating efficiencies. The result will be realized by the enhanced value of our shareholders equity and make LIGA a household name and industry leader in the months and years ahead. The small amounts of cash and stock compensation for management is an example of our commitment to LIG Assets. I would like to personally express my gratitude to our shareholders, many of whom have actively participated in the growth of our Company by presenting valuable opportunities and resources over the last year. We will continue to work tirelessly to ensure that investment is rewarded."
Sincerely,
Allan Gillis - CEO
Marvin Baker - President
Doug Vaughn - CFO
About LIG Assets, Inc.:
LIG Assets, Inc. in association with Robert Plarr is the emerging "Leader in Green Assets" -- focused on exclusive green, renewable energy and sustainable and disaster resistant homes, living systems, technologies and components to be utilized in the residential and commercial real estate acquisition and development projects currently under way and now individual product sales, as well as rapid expansion into other sectors via acquisitions, mergers and joint venture partnerships. LIG Assets, Inc. trades on the pink sheets under the ticker symbol "LIGA."
Follow along on Facebook @ www.Facebook.com/ligahomes and Twitter @ https://twitter.com/ligassets
Forward-Looking Statements:
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 on file at https://www.otcmarkets.com/stock/LIGA/overview
Contact Data
Shareholder/Investor inquiries can be directed to:
LIG Assets, Inc.
Marvin Baker
Chairman. & President
Email: Marvin@bgtvdirect.com
