LIG Assets, Inc. Announces Departure of CEO to Prepare for Growth Spurt
LIG Assets, Inc. announced the departure of CEO Dakota Forgione to facilitate new executive appointments, although she will remain involved as a consultant. During her tenure, Forgione was instrumental in resolving a significant IRS lien and selling a property. The company has recorded $25 million in revenues over five years and aims to restructure through joint ventures and acquisitions to enhance its market position. CFO Douglas Vaughn noted ongoing efforts to improve stock structure and attract quality partnerships. LIGA operates in the real estate, media, and seafood sectors, focusing on sustainability.
- Achieved approximately $25 million in revenues over the past 5 years.
- Successfully resolved a $1.5 million IRS lien, which transformed into a $3.1 million tax loss carried forward.
- Plans to restructure through joint ventures and acquisitions could significantly grow market capitalization.
- CEO transition may create short-term disruption as leadership changes.
- Delays in finalizing the stock restructuring process could impact investor sentiment.
NASHVILLE, TN, June 17, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – LIG Assets, Inc. announced that to facilitate the addition of new executives to our leadership team and board of directors, Ms. Dakota Forgione has decided to depart as CEO and board member of the company. During her tenure at LIGA her most active role was as an internal investment banker, and she will continue to assist in these functions moving forward. Ms. Forgione was successful in helping in the sale of the Brentwood property, as well as the resolution of the IRS lien that was converted from a
“I have informed the board that I have decided to leave LIG Assets, Inc. but plan on helping the company from a consulting position. LIGA is in position to move forward with the restructure and as new people enter, I felt that this would help expedite and make a smoother transition with as little disruption for LIGA's growth. I leave behind a strong and talented Executive Committee and a cohesive Board whose support I could always count on. I look forward to making a smooth transition to accelerate the positive momentum that LIGA has established,” CEO Forgione said.
Over the last 5 years, LIG Assets has seen approximately
"This will help with our transition in structuring LIG Assets into a major player. Our plans are to restructure LIGA through joint ventures, merger and/or acquisitions. As we talk about exploring new options that have been recently presented to us by various parties and concurrently evaluate our recent investments into other companies, our goal is to greatly increase the market capitalization of our company and benefit our shareholders." said President, Marvin Baker, “The growing need to consolidate and move this company forward with our current joint ventures and partnerships and potential mergers and acquisitions is likely to fuel growth of LIG Assets in the Sustainable industry.”
CFO Douglas Vaughn added, “We are in the process of restructuring the stock to bring both the authorized and outstanding shares to a respectable position that will attract quality companies to help them seriously consider joining LIGA. It is likely the management of a larger acquisition or JV partnership would take an active role that may include being the new CEO and possibly the Chairman of the Board. We had hoped to conclude these items by July 29th of 2022 but the legal work will more than likely stretch the timetable. Our new securities attorney firm has relationships with regulators and has the experience to properly complete proposed transactions.”
LIG Assets, Inc. is a multi-faceted worldwide investment company that focuses on real estate, media, and the seafood industry. LIG Assets, Inc. in association with Robert Plarr is the emerging "Leader in Green Assets" -- focused on exclusive green, renewable energy, and sustainable homes, living systems, technologies, and components to be utilized in residential and commercial real estate.
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 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".
LIGA Homes in association with the Company’s other wholly-owned subsidiary, LIG Developments, LLC., a steel framing manufacturing and design entity incorporated under the LIG Assets corporate umbrella will fast track LIGA Homes’ development as an emerging pioneer in the green and renewable energy sectors having successfully created the world’s first earthquake, flood, hurricane and fire resistant homes and structures that are
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 follow 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 risks are detailed in the Company's respective filings at www.otcmarkets.com.
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.LeaderInGreenAssets.com
www.BGTVDirect.com
www.LIGAHomes.com
833 – LIGAHOMES
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