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LIG Assets Announces the Release of the 2017 Annual Report on OTC Markets Showing Over $1.6 million in Revenues & Posting a Net Profit for the Year
LIG Assets Announces the Release of the 2017 Annual Report on OTC Markets Showing Over $1.6 million in Revenues & Posting a Net Profit for the Year.
About this update from Lig Assets, Inc.
[{"type":"text","content":"\n\n NASHVILLE, TN, March 28, 2018 (GLOBE NEWSWIRE) --  LIG Assets, Inc. (LIGA) (also known as the \"Leader in Green Assets\" or \"LIGA\") announces it has released to shareholders its financial report for Fiscal Year ending on December, 31st, 2017. This report may be found on the OTCMarkets.com at https://backend.otcmarkets.com/otcapi/company/financial-report/189548/content\n The 2017 Annual Report posts Total Revenues of $1,651,513.00 and posting a small net profit for the year. The Company anticipates the current trend of increased monthly revenues to continue well into 2018 and beyond as the Company’s real estate development projects and other value based opportunities continue developing.  In January of 2018, LIG Assets entered into an agreement to acquire 60 acres in Brentwood, Tennessee.   The original purchase agreement was for 30 acres of land in Brentwood, TN for $1,000,000 with the option to purchase an adjacent 30 acres for $1,000,000.  Surveys were completed on February 23, 2018, and Deed was transferred to LIG Assets on February 28, 2018.  Projected profits on the first phase of individual lot sales alone should be approximately $7,000,000.  Total profits over two years are expected to be approximately $28,800,000. LIGA Chairman Aric Simons would like investors to note that during 2017 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.  2017 was the year that LIGA transitioned from non revenue status to revenue generation. Even though it was the new Management team’s first year, we managed a small net profit in 2017 – a rarity in the OTC Market. ...