Business
LIG Assets, Inc. Announces Departure of CEO to Prepare for Growth Spurt
LIG Assets, Inc. Announces Departure of CEO to Prepare for Growth Spurt.
About this update from Lig Assets, Inc.
[{"type":"text","content":"\n NASHVILLE, TN, June 17, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – LIG Assets, Inc. announced that to facilitate the addition of new executives to our leadership team and board of directors, Ms. Dakota Forgione has decided to depart as CEO and board member of the company. During her tenure at LIGA her most active role was as an internal investment banker, and she will continue to assist in these functions moving forward.  Ms. Forgione was successful in helping in the sale of the Brentwood property, as well as the resolution of the IRS lien that was converted from a $1.5 million assessment into a $3.1 million tax loss carried forward for LIG Assets. “I have informed the board that I have decided to leave LIG Assets, Inc. but plan on helping the company from a consulting position. LIGA is in position to move forward with the restructure and as new people enter, I felt that this would help expedite and make a smoother transition with as little disruption for LIGA's growth. I leave behind a strong and talented Executive Committee and a cohesive Board whose support I could always count on. I look forward to making a smooth transition to accelerate the positive momentum that LIGA has established,” CEO Forgione said. Over the last 5 years, LIG Assets has seen approximately $25 million in deposited revenues and  eliminated all our legacy debt when we took over the company in 2017.  LIGA has been diligently working and taking advantage of the opportunities that this current market environment has provided us that would normally not be available. \"This will help with our transition in structuring LIG Assets into a major player.  Our plans are to restructure LIGA through joint ventures, merger and/or acquisitions.  As we talk about exploring new options that have been recently presented to us by various parties and concurrently evaluate our recent investments into other companies, our goal is to greatly increase the market capitalization of our company and benefit our shareholders.\" said President, Marvin Baker, “The growing need to consolidate and move this company forward with our current joint ventures and partnerships and potential mergers and acquisitions is likely to fuel growth of LIG Assets in the Sustainable industry.” CFO Douglas Vaughn added, “We are in the proce...