DALLAS, Oct. 24, 2013 /PRNewswire/ -- LIG Assets,
Inc. (LIGA), a Company focused on residential and commercial real
estate, announces a reduction in its primary mortgage balance to
facilitate the process of refinancing the residential mortgage to
obtain a lower rate. The mortgage balance for the residential
assets at LIG Assets as of June 30,
2013 was $16,039,000. During
the third quarter of the year this balance was reduced to
$14,094,000.
The executive heading that residential real estate business has
estimated the current market value at over $20 million. The sources of the paydown include
$1,385,000 from the sale of
residential assets, $222,000 of cash
and $338,000 of renegotiation of the
mortgage note.
LIG Assets is also exploring a new business area in which the
Company would purchase or finance commercial real estate assets at
a discount to market value and lease to own back the property
to a qualified operator. LIGA would add value to the
transactions by: A) sourcing the financing on hard to finance
deals, B) sourcing the financing on discounted asset deals, and/or
C) sourcing expert management.
Company executives believe that LIGA's market capitalization
does not nearly reflect its current asset value nor potential.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas,
TX, is a Company focused on residential and commercial real
estate. Through its alliances with hedge funds, mortgage
brokers, and hard money lenders, LIG Assets plans to expand its
residential portfolio and increase commercial property
transactions. LIG Assets, Inc. currently trades on the pink
sheets under the ticker symbol "LIGA". For additional
information, please visit LIG Assets corporate website:
www.ligassetsinc.net.
Forward-Looking Statements
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.
Contact Information:
LIG Assets, Inc.
1700 Pacific Ave. Suite 2600
Dallas, TX 75201
Email: Richard@ligassetsinc.net
Investor Relations: IR@pricetargetmedia.com
Phone: 214-760-1000
SOURCE LIG Assets, Inc.