LIG Assets, Inc. (OTCPK: LIGA) announces that it filed the second quarter 2016 financials with OTC markets on time to remain current. Based on its policy to be transparent and commit to keep its valued and loyal shareholders informed about recent developments and future plans, the Company has released the following shareholder update:
LIG Assets, Inc. is now owned by its shareholders.
Newly appointed Company President Charles Gambino explains, “Once the new management and Advisory Board was in place, the turnaround of LIG Assets, Inc. began with filing its quarterly and annual reports for year 2015, and its first quarter ending March 31, 2016 at OTC Markets, which in turn, removed the Stop Sign designation and replaced it with OTC Pink Current Information.”
The restructuring process of LIG Assets, Inc. was dedicated to the benefit of the shareholders. This was done by announcing there would be no increase in the authorized number of common shares to be issued, no additional classes of stock created, no reverse split for at least three years unless unanimously approved by the Board of Directors, and the existing 50 million shares of Series A Preferred Stock would only convert into one share of common stock for each preferred share held. The reduction of the preferred conversion rate kept the Company from increasing the authorized share count and eliminated significant dilution of the Company’s stock. The Company also announced that a top priority would be to resolve previous indebtedness
LIG Assets has conducted its first audio interview with CEO Kenneth Wiedrich and President Charles Gambino that will explain in more detail the company’s current and future business plans. The Company plans to make the interview available to the public in the near future at www.LIGAssets.net.
LIG Assets is committed to being transparent. The Company plans to conduct regular podcast interviews with senior executives and affiliates. In addition, it has also created a free shareholder newsletter to keep shareholders and the investment community informed about important current and future developments. Interested parties can subscribe by visiting the Company’s temporary corporate website www.LIGAssets.net
Investors are encouraged to watch for news regarding the debut of the Company’s new corporate website and additional podcasts in the very near future.
This press release may contain forward-looking statements. The words “believe,” “expect,” “should,” “intend,” “estimate,” “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company’s current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company’s filings, which are on file at www.OTCMarkets.com.