NASHVILLE, TN, Nov. 15, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- LIG Assets, Inc. (OTC PINK: LIGA) (also known as the "Leader in Green Assets" or "LIGA") announced today its financial results for the third quarter 2018. The following Corporate filing information and documentation has been submitted to OTC Markets and the quarterly report was uploaded yesterday.
Third Quarter 2018 Highlights:
- Our gross revenues in Q3 2018 has helped LIGA triple their revenues 2018 YTD over 2017 YTD and expect to continue this kind of revenue growth in 2019
- LIGA has posted a profit of $101,313 YTD
- LIGA keeps its commitment to eliminate debt by paying off or negotiating favorable debt reduction
- Plan to create substantial valuations and assets for LIGA moving forward via BGTV, LIG Homes & new projects in the works for LIG Developments that commenced in third Quarter of 2018
- No reverse split or increase of authorized shares as the Company remains committed to its mandate to prohibit any increase in Authorized Shares or reverse split of the stock below .05 per share
LIG Assets’ CFO Doug Vaughn stated, “LIGA in 2018 YTD saw significant revenue increase of more than triple over the prior 2017 revenues YTD. LIGA is in the final stages breaking ground for new developments in Brentwood, Tennessee, and Panama City Beach, Florida. Both of these projects will create significant revenue and profit for LIG Assets.” Vaughn continued, “I also want to emphasize that these homes will be customer financed and built by qualified builders and subcontractors. LIG Assets does not need to raise significant capital for these individual homes as the customer’s construction to permanent loan will provide the necessary funding. LIG Assets is compensated for access to the proprietary Robert Plarr technologies – similar to an Intellectual Property company. We also get a percentage of each steel frame and magnesium oxide wall as a sales commission from the individual suppliers. We believe that current and potential investors will be very pleased with this business model moving forward. LIG Assets is the exclusive provider of Robert Plarr’s residential and commercial structure technologies. The completion of this model home will ‘unlock’ Mr. Plarr’s sales database and effectively begin nationwide sales that will greatly benefit our bottom line.”
Business Developments and News:
- In Q3 2018, LIGA posted YTD revenues surpassing $3 million, more than all of LIGA's 2017 YTD revenues
- Roy Dale & Associates have completed the final site plans and the Brentwood, TN development has progressed to the permitting stage. LIG Assets is in the process of obtaining a construction line of credit from private investors to fund land development. At the conclusion of the permitting stage LIG Assets will be able to pre-sell lots.
- The land in Brentwood, Tennessee was acquired at $33,000 per acre and since acquired, the nearby developed lots are almost sold out and were purchased for $350,000 - $400,000 per acre in the last year and we continue to see land sales increase as much as almost $500,000 per acre in the vicinity of our Brentwood development. Therefore projected profits on lots sales alone should be approximately $7,000,000 for the first 30 acres. Gross profits for Phase 1 (30 acres) are expected to be approximately $19,000,000 (lots plus LIG Homes developments and sales)
- Live Stor America is currently testing equipment on a major lake in the USA. The test is to determine the 20 day survivability of Asian Carp in the Bio Novations™ live shipping containers. These tests have the backing of Federal and various State agencies. A successful test will have major positive ramifications for LIG Assets. If these fish are able to be kept healthy and alive for 20 days in the BIO Novations ‘Traystor’ live ship containers, Live Stor America will utilize the services of Live Ship to transport hundreds of millions of pounds of live Asian Carp to the Orient.
- LIVESTOR's beta facility in Sydney, Nova Scotia is now operational and once fully implemented, LIGA plans to launch LIVESTOR America coast to coast. A small beta facility is going to be tested at Buck Lake Ranch after the 20 day testing is completed.
- BGTV Direct, Inc. will make several major announcements for 2019 and announce the launch of several new ventures in the near future that could make a major impact and greatly increase their revenues and profits
- Through LIGA's partners, associates and joint ventures, Lig Developments has already bid on more projects that will greatly increase revenues for LIGA that will commence this Quarter
- LIGA will announce soon many new partnerships and deals
- LIG Developments & LIGA Homes will be announcing updates on Panama City Beach & Brentwood development
- A new LIGA website for LIGA Homes is in the final stages of completion
All of these business developments were discussed at our 3rd annual LIGA 2018 Sustainability Conference that was held at the Entrepreneur Center in Nashville, TN on Sept. 24th, 2018
LIGA Chairman Aric Simons would like investors to note that during 2018 the Company issued no new convertible notes payable and it did not issue any common stock in payment of convertible notes. Simons continued, “LIG Assets is now in a position to take major strides forward. The Brentwood TN project will dramatically improve cash flow and lot sales are expected to close early in the process. The Nashville TN metropolitan area is one of the strongest (if not the strongest) real estate markets in the United States. The suburb of Brentwood is an extremely desirable location. The LIGA property is also adjacent to Nolensville Pike giving direct access to downtown Nashville. The acquisition of this property is a major accomplishment and its importance cannot be overstated. 2018 has been the year that LIGA started to achieve its goals with the acquisitions of land in Tennessee & Florida. Moving forward, LIGA will continue to be transparent and honest with their shareholders as they work toward having a very profitable year for all divisions and subsidiaries of the company. The company expects more major announcements over the next few months.”
LIG Assets, Inc. submitted yesterday the Quarterly Report for the period ended September 30, 2018 and it was made available publicly at https://backend.otcmarkets.com/otcapi/company/financial-report/206659/content
Non-GAAP Financial Measures:
In addition to disclosing results prepared in accordance with GAAP, the Company also discloses certain non-GAAP results of operations, including adjusted EBITDA and adjusted diluted earnings per share that either exclude or include amounts that are described in the reconciliation table of GAAP to non-GAAP information provided at the end of this release. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results, but are provided to improve overall understanding of the Company's current financial performance. Management believes that this non-GAAP information is useful to both management and investors regarding certain additional financial and business trends related to the operating results. Management uses this non-GAAP information, along with GAAP information, in evaluating its historical operating performance.
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". For additional information about LIG Assets, Inc., Robert Plarr, and/or more information about and how to purchase Plarr's 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 visit the Company's website at www.LeaderInGreenAssets.com
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 www.otcmarkets.com.
CONTACT: Contact Information: LIGA Shareholder/Investor inquiries can be directed to: LIG Assets, Inc. Aric Simons Chairman Email: Aric@LIGAssets.net URL: www.LigaHomes.com