Business
New Attorney Letter Filed at OTCMarkets.com Adds Additional Transparency and Validation of LIGA's Net Assets
New Attorney Letter Filed at OTCMarkets.com Adds Additional Transparency and Validation of LIGA's Net Assets.
About this update from Lig Assets, Inc.
[{"type":"text","content":"\n\n\n\n\n\n\n\nNew Attorney Letter Filed at OTCMarkets.com Adds Additional Transparency and Validation of LIGA's Net Assets\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nNew Attorney Letter Filed at OTCMarkets.com Adds Additional Transparency and Validation of LIGA's Net Assets\n\nPR Newswire\n\nDALLAS, June 7, 2013\n\n\n\n\n\n\n\nDALLAS, 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.\n\n\nThe 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.\"\n\n\nIn 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.\"\n\n\nPresident 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.\" \n\n\n...