Business
LIG Assets, Inc. Announces Financial Results for Q1FY19 and Investments Into New Business Ventures
LIG Assets, Inc. Announces Financial Results for Q1FY19 and Investments Into New Business Ventures.
About this update from Lig Assets, Inc.
[{"type":"text","content":"\nNASHVILLE, TN, May 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- LIG Assets, Inc. (OTC PINK: LIGA) (also known as the \"Leader in Green Assets\" or \"LIGA\") announces today financial results for the first quarter of fiscal year 2019.  Revenue for the quarter was $930,583, an increase of 5.4% over the prior quarter.  Gross profit for the quarter decreased due to increased investments which appear currently as business expenses but are expected to yield substantial growth in subsequent quarters.  The resulting return on investment will be stated as increased net revenue as the investments (detailed below and in prior announcements)\n Q1FY19 Report: https://backend.otcmarkets.com/otcapi/company/financial-report/220468/content Marvin Baker, President of LIG Assets, stated, “The ‘Media Buy’ portion of the business was profitable as expected.  Spending on the Digital Signage Division, Buck Lake Ranch, and Bella Serra Brentwood were a priority this quarter.  We already know this money was well spent as the company netted revenue of over $450,000 in April.” BGTV Direct expensed over $150,000 on the new business ventures.  The Digital Signage Division is expected to produce meaningful revenues in the next 60 days and potentially significant net revenue over the next couple of quarters. These investments which are characterized as business expenses in Q1 will transform into significant profit in subsequent quarters. The investment in Buck Lake ranch of $124,235 was capitalized on the balance sheet.  The finalized procurement of the additional 30 acres for Brentwood, TN, Bella Serra development will result in substantial economies of scale for the amortization of infrastructure construction that will be applied to 60 acres of homes rather than 30 acres of homes.  Financing for the construction has already been secured with infrastructure construction to commence in the very near future.  Once real estate sales commence to generate revenues the company will add a ‘segment report’ to the published financials.  The company also just revamped our website www.ligahomes.com which is now live.  Be sure to sign up for our newsletter for updates.   Non-GAAP Financial Measures: In addition to disclosing results prepared in a...