LIG Assets, Inc. Announces Closing of Bella Serra for $7,037,549 In All Cash Deal

Rhea-AI Summary

LIG Assets, Inc. (LIGA) announced a significant achievement with the closure of Bella Serra on August 13, 2021, resulting in funds being deposited into its bank account. This financial boost will enable LIGA to initiate the construction of sustainable homes in collaboration with Progeny Development leaders. President Marvin Baker expressed confidence in the company’s future, detailing intentions for new projects, joint ventures, and acquisitions aimed at revenue growth. Additionally, LIGA has overcome substantial challenges including an IRS lien, which offers a $3 million tax loss carry forward.

Positive

• Successful closure of Bella Serra provides necessary funding for sustainable home construction.
• Management plans to initiate new projects and joint ventures to enhance revenue.
• Ability to utilize a $3 million tax loss carry forward after resolving an IRS lien.

Negative

• Past management challenges included significant IRS issues and attempts of sabotage leading to federal indictments against former associates.
• The company has incurred hundreds of thousands in costs due to previous obstructive relationships.

Nashville, TN, Aug. 19, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- LIG Assets, Inc. (LIGA) is extremely excited to announce that Bella Serra closed on August 13th and the funds have now posted to LIGA's Bank account.

This closing will provide the funds needed for LIGA to finally begin to build sustainable homes in partnership with Robert Plarr and David Oberele from Progeny Development.

LIG Assets President, Marvin Baker, said, “It is my pleasure to provide the following update on the exciting future and status of LIG Assets, but we will be keeping our projects close to the vest until there are pictures of actual work being done." Baker continued, "No more wishing, hoping, or praying for things to go right and/or relying on others to accomplish our goals."

This closing is truly a Landmark event for LIGA, and Management is ready to get to work putting these funds to use.

We plan to start finishing the projects that are currently in progress and new deals that will soon be announced, including;

•  Sustainable buildings and products.

•  Joint Ventures and Acquisitions that make sense from a revenue standpoint and play a role in the big picture at LIGA.

•  Livestore/Liveship partnership projects.

•  Teaming with the proper Talent to move our vision forward.

LIGA has had some of the biggest challenges any small developing company could ever face, including: 

•  The IRS lien for $1.5 million that took over 18 months to defeat AND ended up with a $3 million tax loss carry forward.  

•  LIGA had people associated with old management try to sabotage LIG Assets stock and thanks to the SEC, we saw 56 federal indictments filed against them. 

•  Others did everything to block deals and cost the company hundreds of thousands in fees, interest, etc. ... and most of those relationships have been severed and the remaining are in the hands of our attorney for proper legal pursuit.

The Management team led by CEO Dakota Forgione, President Marvin Baker, and CFO Doug Vaughn have met head-on and conquered all those challenges that would have most likely devastated and ruined any other OTC company.

We are proud that LIG Assets survived and now will thrive in the world of sustainability and in the OTC.

And now, we have the financial strength to do it our way.

For additional information about LIG Assets, Inc., Robert Plarr, and/or how to purchase our exclusive homes, structures, products and technologies or to subscribe online to LIGA's free Shareholder Newsletter for regular updates and alerts regarding important Company developments please check out LIGA at 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 are detailed in the Company's respective filings at https://www.otcmarkets.com/stock/LIGA/overview.

Contact Information:

LIGA Shareholder/Investor inquiries can be directed to:
Marvin Baker
President – LIG Assets, Inc.
CEO – BGTV Direct Worldwide Media Solutions
Email: Marvin@BGTVDirect.com
www.BGTVDirect.com
www.LIGAHomes.com
833 – LIGAHOMES

FAQ

What is the significance of LIGA's closure of Bella Serra on August 13, 2021?

The closure marks a critical financial milestone for LIG Assets, enabling the company to fund its sustainable home construction projects.

How will the funds from Bella Serra impact LIG Assets, Inc.?

The funds will allow LIGA to commence sustainable home building and pursue new business ventures, improving revenue opportunities.

What challenges has LIG Assets faced that could impact investors?

LIG Assets has faced significant challenges including an IRS lien and attempts by previous management to undermine the company, which led to federal indictments.

What future projects does LIG Assets plan to pursue?

LIG Assets intends to start projects focusing on sustainable buildings, joint ventures, and acquisitions that align with their revenue strategy.