Welcome to our dedicated page for LIG ASSETS news (Ticker: LIGA), a resource for investors and traders seeking the latest updates and insights on LIG ASSETS stock.
LIG Assets, Inc., based in Dallas, TX, is a provider of strategic financing and funding alternatives for both residential and commercial real estate projects. Their focus in commercial real estate is on locating income-producing, high-value, reduced-cost properties where cash flow and operating leverage contribute to the overall value of the entire LIG Assets enterprise.
Recently, LIG Assets, Inc. formed a new Capital Advisory and Investment Portfolio Holding company called Bullion Consortium, Inc. This company was established to invest in public and private companies in sectors like sustainable housing, renewable energy, themed entertainment real estate, and hospitality properties, as well as TV, radio, cable networks, and syndication groups. With a mission to be a holding company focused on sustainable housing, renewable energies, media, and logistic markets, LIG Assets is working towards dynamic synergies and new ventures to enhance their offerings.
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.
LIG Assets Inc. (LIGA) has finalized two pivotal agreements with ForeverBoard of California. These include a royalty agreement for 4% on production from the Shafter, CA plant, capped at $1.2 million over three years, and a binding MOU to form a new holding company aimed at expanding ForeverBoard operations across the US and Canada. LIGA plans to invest $585,675 and acquire a 51% stake in the holding company. The current plant is projected to generate approximately $3 million in EBITDA at 75% capacity, with potential expansion in Indiana.
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.
LIG Assets has announced its return to PINK CURRENT status with OTC Markets, signaling improved transparency for investors. The company has filed its 2nd Quarter report as part of this process. In a significant management change, Aric Simons has been removed from the board due to time constraints, while Marvin Baker has been appointed as the new Chairman of the Board in addition to his role as President. Baker expressed commitment to enhancing the company's revenues and assets during this critical period.
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.
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.
LIG Assets, Inc. (OTC PINK: LIGA) announced its return to project development following recent IRS and SEC victories. The company is focusing on joint ventures related to land development and other revenue-generating projects. LIGA Homes, a subsidiary, is pioneering green residential and commercial builds using innovative, disaster-resistant materials. These buildings employ unique recycled steel framing and non-toxic components designed to withstand extreme weather conditions. LIGA is set to expand its green technology initiatives and enhance its presence in the sustainable construction market.
LIG Assets, Inc. (LIGA) announced key developments in 2020, including a favorable SEC judgment related to unlawful share manipulation and a resolution with the IRS granting a $3 million tax loss carryforward. The SEC had previously indicted an individual and a corporation for manipulative practices affecting LIGA and other OTC companies. Following the resolution, LIGA aims to resume real estate transactions and potentially cancel frozen shares. Furthermore, management is exploring joint ventures to leverage the tax benefits and advance ongoing projects, including property development in Tennessee.
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