LIGA Provides Business Updates For 2020, 2021 And Beyond
LIG Assets, Inc. (OTC PINK: LIGA) has provided its annual report and business updates for 2020, focusing on sustainable housing and logistics. Key achievements include securing contracts for the Bella Serra development in Brentwood, TN, and plans to reestablish LIG Developments as a steel framing company. The company is also pursuing opportunities in the drywall replacement market and resolving past tax issues, securing a $2.7 million loss carryforward. LIG Assets aims to expand by establishing two publicly traded companies as assets on its balance sheet.
- Secured contracts for Bella Serra development, enhancing growth prospects.
- Plans to enter the rapidly expanding drywall replacement market.
- Resolved previous tax issues with a $2.7 million loss carryforward.
- Dependence on the successful closing of Brentwood TN property transaction to improve the balance sheet.
Nashville, TN, March 31, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- LIG Assets, Inc. (OTC PINK: LIGA) (also known as the "Leader in Green Assets" or "LIGA"), announced year-end business updates and posted the Annual report for the 2020 fiscal year. LIG Assets, Inc. is a publicly traded, sustainability-oriented holding company focused on the housing, media, and logistic markets.
Our objective is to become the leader in sustainable housing products and recent corporate updates for 2020 and 2021 include:
- Secured several offers and under contract for the Bella Serra development in Brentwood, TN.
- Working on Deals to expand the Forever Board Relationship.
- In negotiations to reestablish LIG Developments as a light gauge steel framing company.
- Current plans are to have two publicly traded companies as assets on LIG Assets Books.
- Internal divisions have been purchasing LIGA stock on the open market and will continue to do so at these levels.
Due diligence on the Brentwood TN property is in process. A successful closing of the transaction will significantly improve the balance sheet. Should this particular transaction not proceed to closing, the company has alternative proposals to refinance and develop the property to completion. LIG Assets plans to use some of the cash flow to establish a position in the rapidly expanding drywall replacement market. This market is exceptionally large, and we expect the shift away from conventional drywall to be rapid. This will be a major short-term focus. www.foreverboard.net Should this particular Brentwood TN transaction not proceed to closing, the company will still move to close an equity stake in Forever Board.
While the company was perhaps ‘early’ to emphasize steel framing in 2017 and 2018, this method of framing is rapidly gaining acceptance with the substantial increase in wood prices. Therefore, plans to reestablish LIG developments as a steel framing subsidiary are in place. This will also be a major focus as we have identified acquisition candidates that can be outstanding additions to our operations.
During 2020 the company successfully resolved a legacy tax issue from years 2010 – 2012. The company worked closely with IRS officials to resolve the issue. The issue arose from an external party. The CEO during the time period in question was not involved nor implicated. The company is in early stages of potential legal action against the suspected parties. The IRS has closed the issue, marked the final audit as ‘no change’ (effectively closed forever) and secured the tax loss carryforward from 2013 to present – more than
During 2021 we plan to have two publicly traded companies as assets on the balance sheet. See the annual report about BGTV Direct. The other potential company is currently unrelated but LIG Assets is managing the S-1 process and will receive shares. BGTV Direct acquired 7.5mm shares of LIGA stock via open market purchases during the fourth quarter and has continued accumulating during the first quarter of 2021. Both LIG Assets Inc. and BGTV Direct plan to continue to do so when appropriate.
In summary, we expect the partnership with Horton World Solutions to gradually ramp up over 2021. Market research is predicting rapid increases in the ‘green’ drywall replacement market and steel framing. LIG Assets plans to take its place in both of those markets. The Brentwood TN property is a valuable asset which should be able to be leveraged into the new ventures listed above.
About LIGA Homes:
LIGA Homes unique residential and commercial developments utilize specially designed and manufactured recycled "element resistant" steel framing, in addition to toxic free magnesium oxide building materials and panels that are
For more information about LIGA Homes contact the Company directly at 833-LIGAHOMES
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 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 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.LeaderInGreenAssets.com
www.BGTVDirect.com
www.LIGAHomes.com
833 – LIGAHOMES
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