August 16, 2013 LIGA: A Step in the Right Direction---Overhang Should Be LiftedIn our view, one of the major overhangs on the shares of LIG Assets, Inc. (OTCPK – LIGA - $0.0065 – Spec Buy) has been related to the presentation of the Company’s financials. Yesterday’s news coming out of LIG’s Dallas HQ has got to provide investors with a high degree of comfort in the corporate financials, going forward. The Company announced that it has hired Richard W. Barber to become its interim, full-time, in house Chief Financial Officer effective Monday, August 19, 2013 and it is expected that this position will become permanent. LIG Assets also announced that it has contracted the services of The Hall Group, Certified Public Accountants of Dallas, Texas to become its outside auditor so that LIGA can file to become a fully reporting Company. The Hall Group CPAs is a PCAOB registered CPA firm specializing in audit and review services for publicly traded companies and their filings with the Securities and Exchange Commission . Mr. Barber has extensive CFO experience at companies such as Bank of America Investment Services, Inc., Computer Clearing Services and Global Asset Management, Inc. Other notable major firms that Mr. Barber has worked for include J.P. Morgan, and Ernst & Young. Mr. Barber holds an M.B.A. in Finance from Columbia University, New York. With a great deal of experience in real estate in finance, these look like great moves and should add a layer of sophistication in the approach toward the business and the capital markets. Moreover, the changes should be reflected in future filings which include making LIGA a fully reporting company which would do wonders for the stock. For example, if The Hall Group can confirm the $7.5M in book value for the LIG real estate properties that may catapult to the $0.03 – $0.05 level very quickly. Stay tuned….
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