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LIG Assets, Inc. Announces Review of 2020, Including the Successful Resolution & $3 Million Tax Loss Carried Forward
LIG Assets, Inc. Announces Review of 2020, Including the Successful Resolution & $3 Million Tax Loss Carried Forward.
About this update from Lig Assets, Inc.
[{"type":"text","content":"\n Nashville, TN, Oct. 14, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- LIG Assets, Inc. (OTC PINK: LIGA) (also known as the \"Leader in Green Assets\" or \"LIGA\"), announces primary accomplishments in 2020, including the SEC summary judgment against the individual and corporation for the unlawful manipulation and selling of LIG Assets shares and other companies’ stock illegally and the resolution with the IRS that concluded with a $3 million Tax Loss Carried Forward for LIGA. In November 2017, the Securities and Exchange Commission filed indictments against an individual and corporation for unlawful manipulation of LIG Assets and included 38 other OTC companies’ stock. You can read the full SEC indictment @ https://www.sec.gov/litigation/complaints/2017/comp23992.pdf; and on August 20, 2020, the SEC won a summary judgment against the individual and corporation, here's the Litigation Release No. 24871 - See Link: https://www.sec.gov/litigation/litreleases/2020/lr24871.htm In addition to the SEC lawsuit, LIGA has successfully negotiated with the IRS when we came to an agreement after refiling our taxes for the years 2010, 2011, 2012, 2013, 2014, 2015 and 2016.  The IRS took the additional steps to file these as a NO CHANGE AUDIT which gave LIG Assets a $3 million tax loss carried forward instead of any assessed penalties that previous management failed to disclose nor deliver proper banking and tax documents to LIGA's current management.  It should be noted that LIG Assets’ original management that launched the company in 2008 had properly filed all of the tax returns from 2008 to 2013 and it was at this point in 2013 that an interim management team took over.  This interim management team decided to amend several of the previous tax returns and then failed to file 2014, 2015 and 2016 tax returns. Later, the IRS rejected the amended tax returns for 2010, 2011 and 2012.  After LIGA's current management took over LIG Assets in July 2017, the IRS notified them that the previous management ignored and/or was complacent with these tax issues.  Also, and it should be noted the previous management failed to inform LIGA's current management of any issues with the IRS.  So the current management led by CFO Doug Vaughn, and aided by IRS ...