DALLAS, June 7, 2013 /PRNewswire/ -- LIG Assets,
Inc. (OTCPK: LIGA), a Company focused on residential and commercial
real estate, has filed a new Attorney Letter under "Supplemental
Information: Attorney Letter with Respect to Current Information"
at OTCMarkets.com. The entire three page document can be
viewed at http://www.otcmarkets.com/stock/LIGA/filings. The
purpose of this exercise was to provide LIGA shareholders more
transparency and confidence behind the numbers. It was also
considered to be the first stepping stone in its path to become a
fully reporting and audited Company.
The Attorney Letter states, "In reviewing the total assets value
of LIGA's holdings, we have determined that the market value for
the over 200 properties is approximately $26,711,800.00. We believe this figure to
be very conservative as it reflects various county recorder data
which, in our experience, is almost always listed at a number lower
than the actual market value of the specific property."
In summation, the letter states, "Accordingly, we have reached a
conservative calculation that LIGA's net holdings are worth at
least an estimated $7,511,800.00."
President and CEO Jeffrey Love
stated, "As can be seen by the determination from counsel, the net
assets of our Company were over $7.5
million, and this did not include value of any of our
subsidiaries such as LIG Entertainment Management that we valued at
$1.25 million as of the quarter ended
March 2013. The new asset valuation also did not include our
holdings in South American Properties, Inc. (OTCPK: SAMP) which
remains an entity we expect will contain significant assets and
properties located outside the United
States."
The closing price for SAMP yesterday was .032 per share.
LIG Assets reported in its press release on Wednesday, June 5, 2013 that it intends to issue
LIGA shareholders a stock dividend of common shares in SAMP.
Love concluded, "The estimated current market capitalization of
just our real estate assets based on yesterday's closing price of
.0085 was $1.1 million. We have
a long list of properties in the United
States that are projected to provide us significantly more
assets and profits for the foreseeable future, and we remain on
target to report news about the large Cripple Creek hotel casino
within days. You do the math, but I certainly like where we
are headed now."
About LIG Assets, Inc.
LIG Assets, Inc., (OTCPK: LIGA) based in Dallas, TX, is a Company focused on
residential and commercial real estate. Through our Strategic
Alliance with Texas Real Estate Hedge Fund, MMR Realty Advisors,
and InterContinental Real Estate Partners, LIG Assets will expand
its focus on multifamily, retail, hotel, and office properties with
valuations between $3 and $100
million.
LIG Assets, Inc. (OTCPK: LIGA) trades on the pink sheets under
the ticker symbol "LIGA". For additional information, please visit
LIG Asset's 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 and disclosures at
www.OTCmarkets.com.
Jason Kinchion
LIG Assets, Inc.
Phone: (214) 760-1000
www.ligassetsinc.com
SOURCE LIG Assets, Inc.