DALLAS, Dec. 10, 2013 /PRNewswire/ -- LIG Assets,
Inc. (OTCPK: LIGA), a Company focused on residential and commercial
real estate, announces that it has activated new asset based
lending agreements and initiated purchases of single family homes
in Texas. LIGA has begun to remodel or upgrade homes
purchased at a discount to market in an effort to sell or lease at
a profit or positive cash flow. This business proved
successful to LIG Assets for years before its focus was displaced
by business opportunities less focused on real estate.
Since adding a qualified CFO in August, LIG Assets is taking a
focused approach to eliminate low probability commercial real
estate deals, reduce unnecessary spending, incentivize revenue
production, clean up its balance sheet, prepare timely financial
reports, and focus on transactions that will generate strong
profits. Management is constructively moving ahead to turn
around LIG Assets and provide steady growth on behalf of its loyal
shareholders.
Last month, LIG Assets announced a reduction in its primary
lender's mortgage balance to facilitate the process of refinancing
the residential mortgage to obtain a lower rate. This balance
for the older portfolio of single family homes was reduced to
$14,094,000, and it is estimated that
the current market value of that portfolio is over $20 million. LIG Assets remains hopeful
that it will successfully refinance all or part of this residential
mortgage portfolio to obtain a lower rate and generate a positive
cash flow.
As of today, management plans to communicate its developments
and progress through press releases more actively.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas,
TX, is a Company focused on residential and commercial real
estate. Through its alliances with hedge funds, mortgage
brokers, and hard money lenders, LIG Assets plans to expand its
residential portfolio and increase commercial property
transactions. LIG Assets, Inc. currently trades on the pink
sheets under the ticker symbol "LIGA". For additional
information, please visit LIG Assets corporate website:
www.ligassetsinc.net.
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 that are
detailed in the Company's filings, which are on file at
www.OTCMarkets.com.
Contact Information:
LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
Email: Richard@ligassetsinc.net
Investor Relations: IR@pricetargetmedia.com
Phone: 214-760-1000
SOURCE LIG Assets, Inc.