LIG Assets, Inc. Reveals Expansion and Strategic Plans for Company Growth
LIG Assets, Inc. announced that the acquisition of Brentwood, TN land has moved to escrow, potentially improving its balance sheet through the elimination of $2.5 million in real estate debt, repayment of a $285,000 receivable, and achieving a net cash balance of $1.35 million. The company plans to invest in ForeverBoard, a sustainable building solution, and is exploring partnerships and acquisitions, including a $1.25 million asset through Simulated Environment Concepts, Inc. This transaction may enhance liquidity and lower financing costs, improving financial stability.
- Elimination of $2.5 million in real estate debt.
- Repayment of a $285,000 receivable increases financial stability.
- Achieving a net cash balance of $1.35 million enhances liquidity.
- Plans to invest in promising sustainable building solutions like ForeverBoard.
- None.
Nashville, TN, May 26, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- LIG Assets, Inc. wishes to confirm that the proposed Brentwood TN land buyout offer (mentioned in the ‘Subsequent Events’ section of the recent quarterly report) has moved to escrow. Successful completion of this deal will result in three major balance sheet improvements (numbers are approximate):
- The elimination of the Real Estate debt and Heartland Capital Loans of
$2.5M M. - Repay an intercorporate receivable to BGTV Direct of
$285 K. - Result in a net cash balance of
$1.35m m.
The next step post-closing (see Management Discussion and Analysis of most recent quarterly report) is to take an equity stake in the ForeverBoard company, as well as determine the best path forward for a ‘Robert Plarr’ branded sustainable and survivable home. The residential and commercial building markets are looking for more technically advanced and ‘greener’ solutions to conventional drywall. LIG Assets, Inc. is confident the Magnesium Oxide formulation of ForeverBoard is poised to gain market share quickly.
President of LIGA, Marvin Baker has taken control of a public company, Simulated Environment Concepts, Inc., OTC PK: SMEV, with plans to announce several JV's, Partnerships and Acquisitions that will go directly into Simulated Environment Concepts, Inc. SMEV will be its own Public Entity and LIGA's involvement and participation will be disclosed in the near future which will include the recent acquisition of a
In addition, LIG Assets, Inc. has been making investments and working with several other companies to form JV's, Partnerships and Acquisitions that will be announced soon. This may involve LIG Assets, Inc identify and acquire a credible light gauge steel framing company. This land sale – assuming closure -- gives LIG Assets, Inc. the necessary liquidity to move relatively quickly, and the new balance sheet will result in much lower cost financing options moving forward and going concern will be removed from our financials.
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 underway 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 Assets, Inc. 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 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 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 latest update on LIG Assets Inc. (LIGA) regarding the Brentwood land acquisition?
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