News Article | March 30, 2016
We use an established ice-sheet model, with hybrid ice dynamics following the formulation described in ref. 27, and an internal condition on ice velocity at the grounding line15 that captures MISI (Fig. 2a–c) by accounting for migrating grounding lines and the buttressing effects of ice shelves with pinning points and side shear. Bedrock deformation under changing ice loads is modelled as an elastic lithospheric plate above local isostatic relaxation. A grid resolution of 10 km is used for all simulations, the finest resolution computationally feasible for long-term continental simulations. The model includes newly added treatments of hydrofracturing and ice cliff failure (Fig. 2d–f) described in ref. 25 and extended here. Basal sliding coefficients are determined by an inverse method51, iteratively matching ice-surface elevations to observations until a quasi-equilibrium is reached. In this case, inverted sliding coefficients are derived from a modern (preindustrial) surface climatology, using the same RCM used in our Pliocene, LIG, and future simulations. In addition to the Pliocene and LIG targets highlighted here, the ice sheet–ice shelf model has been shown capable of simulating: (1) the modern ice sheet, including grounding-line positions, ice thicknesses, velocities, ice streams, and ice shelves (Fig. 1b), (2) the Last Glacial Maximum (LGM) extent27, (3) the timing of post-LGM retreat18, and (4) the ability of the ice sheet to regrow to its modern extent following retreat25. Calving depends on the combined penetration depths of surface and basal crevasses, relative to total ice thickness23, 26, 52, 53. Crevasse depths are parameterized according to the divergence of the ice velocity field52, with an additional contribution depending on the logarithm of ice speed that crudely represents the accumulated strain history (ice damage) along a flow path25. Rapid calving is imposed as ice thickness falls below 200 m for unconfined embayments. The 200-m criterion is decreased in confined embayments according to 200 × max[0, min[1, (α − 40)/20]], where α is the ‘arc to open ocean’ (in degrees), crudely representing the effects of ice mélange in narrow seaways. The unconfined onset thickness of 200 m was increased from its value of 150 m in ref. 25 in order to improve modern Ross and Weddell Sea calving-front locations. A similar dependence on α is imposed for oceanic sub-ice-shelf melt rates, as described below. Surface crevasses are additionally deepened (hydrofractured) as they fill with liquid water, which is assumed to depend on the grid-scale runoff of surface melt and rainfall available after refreezing23, 53. The crevasse-depth dependence on surface runoff plus rainfall rate R (in metres per year) has been modified slightly for low R values. The R used in equation (B.6) of ref. 25 is changed to: This supposes that minimal hydrofracturing occurs for relatively small R values. The linear segment between 1.5 m yr−1and 3 m yr−1 intersects the R2 parabola as a tangent at R = 3. This modification prevents small amounts of recession in some East Antarctic basins for modern conditions, where small amounts of summer melt and rainfall occur. To account for structural ice-cliff failure26, 54 (MICI in Fig. 2), a wastage rate of ice W is applied locally to the grid cell adjacent to tidewater grounding lines with no floating ice, if the required stresses at the exposed cliff face exceed the yield strength of ice. This condition depends on the subaerial cliff height at the interpolated grounding line relative to the maximum ice thickness that can be supported, modified locally to account for any meltwater-enhanced crevasse penetration (hydrofracturing), and any reductions in crevassing caused by backstress. For dry crevassing at an ice margin with no hydrofracturing and no buttressing (backstress), the maximum exposed cliff height is 100 m, assuming an ice yield strength of 1 MPa25, 26. The formulation of W results in a steep ramp in wastage rates of 0–3 km yr−1, where exposed ice cliffs ramp from 80 m to 100 m. The maximum wastage rate of 3 km yr−1 used as our default is conservatively chosen, based on recent observations of the Jakobshavn Isbrae Glacier (up to ~12 km yr−1) and the Crane Glacier (~5 km yr−1) following the loss of their ice-buttressing shelves55, 56, 57. The model is modified from ref. 25 to include a more physically based parameterization of the vertical flow of surface mobile liquid water (runoff and rainfall) through moulins and other fracture systems towards the base22, 58, which affects the vertical temperature profiles within the ice sheet. Vertical sub-grid-scale columns of liquid water are assumed to exist, through which the water freely drains while exchanging heat by conduction with the surrounding ambient ice that cools and can freeze some or all of the liquid water within the ice interior. We use uniform parameter values everywhere: we set the fractional area of sub-grid columns to overall area to be 0.1, and the horizontal scale of drainage elements to be 10 m (R in ref. 22, used in the calculations of conductive heat exchange with ambient ice). The fractional area includes both large moulins and any downward movement of liquid water in crevasses or cracks of all scales, which would be prevalent in the future melting scenarios investigated here. Offline sensitivity tests show low sensitivity of our model behaviour to these values, but further investigation is warranted. For reasonable numerical behaviour, the horizontal heat exchange needs to be part of the time-implicit vertical diffusive heat solution for ambient ice temperature in the main model. To avoid an iterative procedure in cases where all liquid water is frozen before reaching the bed, a time-explicit calculation of the water penetration is made first, and one of the following measures is applied in the time-implicit ice-temperature step: (1) the conductive heat exchange coefficient at all levels is reduced by a constant factor for the column, so that the liquid penetrates to the lowest layer but no further; and (2) the conductive coefficient is set to zero below the depth of furthest penetration. Both methods give very similar results in idealized single-column tests; method (1) was used for all runs here. In cases with greater surface liquid flux, there is no reduction of coefficients and some water reaches the base. A minor bug fix is corrected in the calculation of vertical velocities within the ice (w′ in ref. 27), which previously did not account for the removal of ice at the base due to oceanic melting. This only affects advection of temperature in ice shelves, and has negligible effects on results. Ice-sheet initial conditions and basal sliding coefficients are provided by a 100-kyr inverse simulation following the methodology in ref. 51, using mass-balance forcing provided by a bias-corrected RCM climatology and modern observed ocean temperatures (described below). In the inverse procedure, basal sliding coefficients under modern grounded ice are adjusted iteratively to reduce the misfit with observed ice thickness, with grounding-line positions fixed to observed locations. The LIG simulation using ‘glacial’ initial conditions (Fig. 3) uses the same basal sliding coefficients (along with a relatively slippery value for modern ocean beds), but initialized from a previous simulation of the LGM with a prescribed, cold glacial climate representing conditions at ~20 kyr ago. The total ice volume in the modern and glacial ice sheets is 26.55 × 106 km3 and 32.30 × 106 km3, respectively, equivalent to bedrock-compensated GMSL values of 56.80 m and 62.28 m. Atmospheric climatologies providing surface mass-balance inputs to the ice model are provided by decadal averages of meteorological fields from the RegCM3 RCM59, adapted to Antarctica with a polar stereographic grid and small modifications of model physics for polar regions. The RCM uses a 40-km grid, over a generous domain spanning Antarctica and surrounding oceans, nested within the GENESIS v3 Global Climate Model60, 61. The GCM and RCM share the same radiation code62 and orbitally dependent calculations of shortwave insolation, important for the Pliocene and LIG palaeoclimate simulations. Anomaly methods are used to correct a small <2 °C Antarctic cold bias in the RCM: where T is monthly surface air temperature and P is monthly precipitation. Subscripts ‘exp’, ‘obs’ and ‘ctl’ refer to model experiment, observed modern climatology, and model modern control, respectively. A modern (1950) RCM simulation is used for the model modern control, and the ALBMAP data set63 is used for observed modern climatology. In the climatic correction for the difference between the ice-model surface elevation and the interpolated elevation in the climate model or observational data set27, precipitation is now corrected as well as temperature. As before, air temperature T (in degrees Celsius) is shifted by ΔT = γΔz, where γ = −0.008 °C m−1 is the lapse rate (that is, the decrease in atmospheric temperature with respect to altitude) and Δz is the elevation difference. Now, precipitation P is multiplied by a Clausius–Clapeyron-like factor: Rates of surface snowfall and rainfall are now consistently multiplied by a factor ρ /ρ ≈ 1.1, where ρ and ρ are the densities of liquid water and of ice respectively. This consistently converts between the units of most climate models and climatological databases (metres of liquid water equivalent per year) and the ice-model surface budget terms (metres of ice equivalent per year). Direct coupling of high-resolution ocean models and ice sheets remains challenging. For present-day simulations we use a parameterization of sub-ice shelf melt rates, similar to that used by other model groups64. The parameterization27 links oceanic melt rates to the nearest observed (or modelled) ocean temperatures: where T is ocean temperature interpolated from the nearest point in an observational (or ocean model) gridded data set, T is the local freezing-point temperature at the depth of the ice base, and C is the specific heat of ocean water. The transfer factor K = 15.77 m yr−1 °C−1 results in a combined coefficient (K ρ C /ρ L ) of 0.224 m yr−1 °C−2. The depth dependence on T produces higher melt rates at the grounding line, as observed, and the dependence on T − T is quadratic65. Although spatially coarse observational data sets and standard GCM ocean models fail to capture detailed ocean current systems below ice-shelf cavities, this approach (Extended Data Fig. 6e and f) is preferable to the ad hoc prescription of single temperatures and transfer coefficients along individual sectors of the Antarctic margin as in ref. 27. The effects of confined geography on ocean currents are represented by reducing basal melting depending on the total arc to open ocean α, representing the concavity of the coastline25. The melt rate computed from ocean temperatures as above is multiplied by the factor: This effect, combined with the reduction of thin-ice calving with a similar dependence on α described above, allows ice to expand into interior basins during cool-climate recovery after major retreats of marine-based ice, as presumably occurred many times in West Antarctica over the last several million years66. Melting of vertical ice surfaces in direct contact with ocean water is derived from the oceanic melt rate (OM) of surrounding grid cells, but is increased by a scaling factor of 10, producing more realistic calving front positions and in better agreement with hydrographic melt rate observations and detailed modelling67. Present-day sub-ice shelf and calving-face melt rates described here use the 1° resolution World Ocean Atlas32, 68 temperatures at 400-m depth, interpolated to the time-evolving ice model grid and propagated under ice-shelf surfaces using contiguous neighbour iteration to provide T . The depth of 400 m represents typical observed levels of Circum-Antarctic Deep Water, a main source of warm-water incursions into the Amundsen Sea Embayment today69. Our default Pliocene simulation uses the same nested GCM–RCM climatology used in a prior study25, with 400 p.p.m.v. CO and a generic warm austral summer orbit28 (Extended Data Fig. 1). Ocean temperatures are increased uniformly by 2 °C everywhere in the Southern Ocean. The resulting Antarctic contribution of 11.3 m GMSL implies >15 m GMSL rise if an additional ~5 m contribution from Greenland70 and the steric effects of a warm Pliocene ocean are also considered. This result is ~6 m less than in ref. 25, reflecting a reduction in the sensitivity of the model with the changes described above. The LIG spans a ~20-kyr interval with greenhouse-gas atmospheric mixing ratios comparable to the pre-industrial Holocene9. Opportunities for Antarctic ice-sheet retreat within this interval include a peak in the duration of Antarctic summers coeval with a boreal summer insolation maximum at 128 kyr ago, and an Antarctic summer insolation maxima one half-precession cycle later at 116 kyr ago (Extended Data Fig. 2). We target these two orbital time slices because they contrast radiatively long and weak (128 kyr ago) versus short and intense Antarctic summers (116 kyr ago), both of which have been postulated to be important drivers of ice volume on glacial–interglacial timescales71. LIG simulations that include climate–ice sheet feedback asynchronously couple the GCM–RCM and the ice-sheet model. In this case, the nested RCM land (ice) surface boundary conditions are updated at the end of the initial retreat at ice model-year 5000 and the ice-sheet model is rerun using the updated climatology. This improves the representation of ice-climate feedbacks via albedo, ocean surface conditions (sea surface temperatures and sea ice), and dynamical effects of the changing topography on the atmosphere. We find that explicitly including climate–ice feedbacks improves model performance, relative to simple lapse-rate adjustments. LIG simulations (Extended Data Table 1; Extended Data Fig. 3d, e) apply anomaly-corrected RCM mass-balance forcing at each LIG time slice, using the appropriate greenhouse gas9, 72 and orbital values73 in the nested GCM–RCM. Ocean temperatures are provided by the World Ocean Atlas data set32, with incremental warming of 1–5 °C applied uniformly over the Southern Ocean grid domain. To allow the RCM atmosphere to respond to a warmer Southern Ocean in addition to applying elevated ocean temperatures to the ice model, we increase the southward ocean-heat convergence in the nested GCM–RCM using the methodology described in ref. 28, effectively warming the Southern Ocean sea surface temperatures by ~2 °C and reducing sea-ice extent. Accounting for the effect of a warmer Southern Ocean on the overlying atmosphere produces more LIG ice-sheet retreat for a given ocean warming, improving our model–data fit. With this technique, only 3 °C of assumed sub-surface ocean warming is required to produce >6 m GMSL rise from Antarctica at either LIG orbital time slice, reinforcing the notion of a dominant oceanic control on LIG ice-sheet retreat. The two time-continuous LIG simulations using prescribed climatologies (Fig. 3) use bias-corrected, present-day RCM climatologies with a uniform, time-evolving perturbation derived from the average of Antarctic ice-core climatologies compiled in ref. 29. Southern Ocean temperatures are treated similarly, with World Ocean Atlas temperatures32 increased according to the average of circum-Antarctic LIG anomalies29. Only records from marine drill-cores poleward of 45° S are used in the averages, but we note that there is considerable uncertainty in the proxy sea surface temperature estimates (>2 °C)29. This approach also assumes that the proxy sea surface temperatures reflect changes at sub-surface depths (~400 m), which is uncertain. The resulting anomalies are applied to the ice sheet model at 130 kyr ago, 125 kyr ago, 120 kyr ago, and 115 kyr ago and the ice-sheet model is run continuously from 130 kyr ago to 115 kyr ago. The pairs of air and ocean temperature perturbations applied at each 5-kyr LIG timestep are 1.97° and 1.70°, 1.41° and 1.51°, 0.83° and 1.09°, −1.57° and 0.31°, respectively. The time-continuous LIG simulations are initialized from either a present-day initial ice state (Fig. 1b), or from a prior Last Glacial Maximum simulation with 5.76 × 106 km3 more ice than today. The latter initial condition may better represent the ice sheet at the onset of the LIG and leads to a greater potential sea-level rise owing to the deeper bed conditions early in the deglaciation, which enhances the bathymetrically sensitive MISI dynamics. The proxy-forced LIG simulation clearly supports a maximum Antarctic contribution to GMSL early in the interglacial period (Fig. 3). However, we note that owing to the demonstrated influence of Southern Ocean temperature on the timing of retreat and the uncertain magnitude and chronology of our imposed forcing29, these results cannot definitively rule out maximum Antarctic retreat at the end of the LIG, as has also been proposed4, 74 Because of the new ice-model physics that directly involve the atmosphere via meltwater enhancement of crevassing and calving, highly resolved atmospheric climatologies are needed at spatial resolutions beyond those of most GCMs. However, multi-century RCM simulations are computationally infeasible. To accommodate the need for long but high-resolution climatologies, the nested GCM–RCM is run to equilibrium with 1 × PAL, 2 × PAL, 4 × PAL and 8 × PAL CO . In the ice-sheet simulations, CO follows the extended RCP greenhouse gas emissions36 to the year 2500, and the climate at any time is the average of the two appropriate surrounding RCM solutions, weighted according to the logarithm of the concentration of CO . The RCM climatologies follow total equivalent CO which accounts for all radiatively active trace gases in the RCP timeseries. In RCP8.5, equivalent CO forcing exceeds 8 × PAL after 2175, but it is conservatively limited here to a maximum of 8 × PAL (Fig. 4a). A 10-yr lag is imposed in the RCM climatologies to reflect the average offset between sea surface temperatures and surface air temperatures in the equilibrated RCM (with equilibrated sea surface temperatures from the parent GCM) and the transient response of the real ocean’s mixed layer. Ocean temperatures in the RCP scenarios are provided by high-resolution (0.5° atmosphere and 1° ocean) NCAR CCSM437 ocean model output, following the RCP2.6, RCP4.5, and RCP8.5 greenhouse gas emissions scenarios run to 2300. Ocean temperatures beyond the limit of the CCSM4 simulations at 2300 are conservatively maintained at their 2300 values. As with the World Ocean Atlas, water temperatures at 400-m depth (between ocean model z-levels 30 and 31) are used in the parameterization of oceanic sub-ice melt (oceanic melt rate) described above. The CCSM4 underestimates the wind-driven warming of Antarctic Shelf Bottom Water41 in the Amundsen and Bellingshausen seas associated with recent increases in melt rates and grounding-line retreats20, 42, 43. To account for this, additional warming is added to the Amundsen and Bellingshausen sectors of the continental margin. We find the addition of 3 °C to the CCSM4 ocean temperatures increases melt rates to 25–30 m yr−1 (Extended Data Fig. 5f). While still less than observed, this substantially improves grounding-line positions in the Amundsen Sea (Pine Island Glacier in particular) from 1950 to 2015. When applied to RCP4.5 and RCP8.5, the ocean-bias correction accelerates twenty-first-century WAIS retreat (Fig. 4d, g, h) but is found to have little effect beyond 2100 (Extended Data Table 1). Extended RCP greenhouse gas scenarios36 are available up to 2500, beyond which we assume two different scenarios: (1) natural decay of CO 75, 76 and no further anthropogenic emissions, or (2) engineered, fast drawdown towards pre-industrial levels with an e-folding time of 100 years. These choices are not intended to be definitive, but serve to illustrate the ice-sheet response to a wide range of possible long-term future forcings. Future high-resolution ocean-model output is not available on multi-millennial timescales. In our long (5,000-year) future simulations (Extended Data Fig. 7), CCSM4 ocean temperatures at 400 m depth are assumed to remain at their 2300 values for thousands of years beyond 2300 (until 7000). This assumption is based on the thermal inertia of the deep ocean (thousands of years)47, its longwave radiative feedback on atmospheric temperatures77, and its relative isolation from surface variations. The response of the intermediate and deep ocean to atmospheric and surface-ocean warming before 2300 is heavily lagged in time, and consequently deep-ocean temperatures would continue to rise long after CO levels and surface temperatures began to decline after 250077. However, at some point several thousand years later, intermediate- and deep-ocean waters would start to cool if CO levels decay as in Extended Data Fig. 7. The trajectory of these temperatures would vary spatially and depend on details of the ocean circulation. To our knowledge, the state of the ocean as it recovers from a greenhouse gas perturbation over these timescales is largely unknown, as relevant coupled atmosphere–ocean global climate model simulations at the resolution and duration appropriate to our ice model have not been run. Consequently, our assumption of constant 400-m ocean temperatures after 2300, although likely to be conservative beyond 2500, may be questionable for the latter parts of the simulations assuming fast, engineered CO drawdown. However, assuming the slow, natural pace of CO recovery76, atmospheric concentrations would remain above twice the current level of carbon dioxide (2 × CO ) for thousands of years in the RCP8.5 scenario (Extended Data Fig. 7). Assuming a global temperature sensitivity of ~3 °C per doubling of CO , our ocean temperatures applied to the long RCP8.5 scenario are probably conservative over the duration of the simulation. To quantify model uncertainty due to poorly known parameter values, ensembles of future RCP scenarios are performed with varying model parameters affecting sub-ice oceanic melt rates, meltwater-enhanced calving (hydrofracturing) and marine-terminating ice cliff failure. Ensemble members use the high-resolution atmospheric and ocean forcing described in the main text and above. Alternative ensembles are run both with and without the bias correction of CCSM4 ocean temperatures in the Amundsen and Bellingshausen Seas. The three parameters and four values used for each are as follows. OCFAC is the coefficient in the parameterization of sub-ice-shelf oceanic melt, which is proportional to the square of the difference between nearby ocean water temperature at 400-m depth, and the pressure-melting point of ice. It corresponds to K in equation (17) of ref. 27. The relationship between proximal ocean conditions and melting at the base of floating ice shelves remains a challenging topic of ongoing research78, and a simple parameterization64 is used here. Ensemble values of OCFAC are 0.1, 1, 3 and 10 times the default value of 0.224 m yr−2 °C−2. CREVLIQ is the coefficient in the parameterization of hydrofracturing due to surface liquid. It replaces the constant 100 in equation (B.6) of ref. 25, and is the additional crevasse depth due to surface melt plus rainfall rate, with a quadratic dependence. This crudely represents the complex relationship between surface water and crevasse propagation, and basic model sensitivity is shown in supplementary figure 7b of ref. 25. Values of CREVLIQ are 0 m, 50 m, 100 m and 150 m per (m yr−1)−2. VCLIF is the maximum rate of horizontal wastage due to ice-cliff structural failure. It replaces the default value of 3,000 (3 km yr−1) in equation (A.4) of ref. 25. Its magnitude is based on observed retreat rates of modern large ice cliffs, and basic model sensitivity is shown in supplementary figure 7a of ref. 25. Values of VCLIF are 0 km yr−1, 1 km yr−1, 3 km yr−1 and 5 km yr−1. Medium-range, default values of OCFAC, CREVLIQ, and VCLIF used in our nominal Pliocene (Extended Data Fig. 1), LIG (Fig. 3), and Future (Fig. 4) simulations are OCFAC = 1 (corresponding to 0.224 m yr−2 °C−2), CREVLIQ = 100 m per (m yr−1)−2, and VCLIF = 3 km yr−1, respectively. Simulations for the Pliocene and LIG scenarios are run with all possible combinations of these parameter values, that is, 64 (=43) runs (Extended Data Table 2). Each run is subject to a pass/fail test that its equivalent GMSL rise falls within the observed ranges for the LIG (3.6–7.4 m) and the Pliocene (10–20 m). The filtered subset of parameter combinations that pass (15 out of 64) are then used in an ensemble of future RCP scenarios. An additional ensemble calculation is performed using the same LIG criteria, but a lower accepted range for Pliocene sea-level rise (5–15 m), to reflect the large uncertainty in Pliocene sea-level reconstructions1 (29 out of 64 passed this test). The mean and 1σ range of each ensemble are shown for the three RCP scenarios in Fig. 5, providing both an envelope of possible outcomes and an estimate of the model’s parametric uncertainty. Two alternative sets of future RCP ensembles are run with the ocean-temperature bias correction in the Amundsen and Bellingshausen seas shown in Extended Data Fig. 5. This increases Antarctica’s GMSL contribution by ~9 cm over the next century in both RCP8.5 and RCP8.5, but has almost no effect on longer timescales (Extended Data Tables 1, 2). In the RCP2.6 ensemble calibrated against the higher >10 m Pliocene sea-level targets, the ocean-bias correction increases both the ensemble-mean and 1σ standard deviation to 16 ± 16 cm in 2100 and 62 ± 76 cm in 2500 (Extended Data Table 1). The increased variance is caused by three simulations in the RCP2.6 ensemble set, in which the stability of the Thwaites Glacier grounding line is exceeded and the WAIS retreats into the deep interior. Although the ensemble members with bias-corrected ocean temperatures are generally more consistent with observations of recent retreat in the Amundsen–Bellingshausen sector, the validity of the bias correction in the long-term future is unknown. Ice sheet and climate model codes, results from Pliocene, LIG, and future simulations, and tabulated ensemble results are freely available from the corresponding author.
News Article | January 26, 2016
Global PC sales last year hit an eight-year low and sales of high-end smartphones slowed as gadget makers increasingly shifted focus to fast-growing mid- or low-end markets. As demand for PCs as well as the handsets powered by expensive chips declined, average prices of SK Hynix's dynamic random access memory (DRAM)—commonly used for PCs—and NAND flash chips used for mobile devices fell 10 and 15 percent respectively in the fourth quarter. Net profit for the September to December period amounted to 871 billion won ($725 million), down 46 percent from a year ago, the company said in a statement. Operating profit also dropped 41 percent to 989 billion won during the same period, missing a 1.04 trillion-won average of analyst estimates compiled by Bloomberg News. "China's Lunar New Year holiday (in February) and the Rio Olympics (in 2016) may boost demand but their impact will remain very limited," Shin Hyun-Joon, analyst at LIG Investment and Securities said. "I do not see any major pick-up in demand anytime soon." SK Hynix vowed to beef up investment and cut costs to overcome "crisis situations" expected this year including sluggish demand and escalating competition among chipmakers like local rival Samsung. It also vowed to invest 6.0 trillion won this year on corporate infrastructure, including upgrading production capacity of its NAND flash chip plants in Cheongju city south of Seoul. The company last year announced a plan to spend a whopping $38 billion to build new plants or upgrade existing ones over the next 10 years. Explore further: SK Hynix posts near 30% drop in Q2 net profit
News Article | November 22, 2016
Settlement with TCA Global Credit Master Fund settles debt incurred by previous management over 3 years ago DALLAS, TX--(Marketwired - Nov 22, 2016) - LIG Assets, Inc. ( : LIGA) (also known as the "Leader in Green Assets" or "LIGA"), focused on residential and commercial real estate acquisition and development, today announced that it has entered into an agreement with TCA Global Credit Master Fund ("TCA Global") to settle the significant majority of the company's current outstanding debt. The settlement agreement reduces the outstanding debt to TCA Global by approximately 75% and essentially allows LIG Assets to begin its new business ventures with a fresh start and build assets from this point unencumbered by liens or the potential of ever-increasing debt owed to this lender. Additionally, LIGA shareholders are expected to see no dilution through this settlement. Terms of the settlement allow LIGA to engage in revenue generating activity for almost 6 months before commencement of monthly payments to pay off the settlement amount. Payments to TCA Global are anticipated to be generated from multiple new business ventures and revenue streams. Over three years ago, previous LIG Assets management borrowed $500,000 from TCA Global. The debt subsequently accrued interest and penalties that ballooned to over $1 million. It is noted that TCA Global did receive some payments against the original loan. TCA Global was by far LIG Assets, Inc.'s largest creditor, and all other creditors or claims against LIG Assets have been settled, are in the process of being settled, or management believes can be settled amicably. Aric Simons, Chief Legal Counsel for LIG Assets, was instrumental in negotiation of the amicable settlement with TCA Global and their representation. Mr. Simons stated, "We are pleased to come to an agreement that benefits all parties, and appreciate everyone related to TCA Global for working with us on a fair settlement." Previous management of LIG Assets, Inc. will be responsible for paying over half of the reduced negotiated settlement over a two-year time frame. Again, no dilution to LIGA stock occurred or is expected to occur from this Settlement Agreement, and no payment in cash or stock was made to previous management for this commitment. As long as LIG Assets abides by the terms of the agreement, it owes TCA Global only a remaining $220,000 over the next two years for its portion of the settlement. LIGA President Charles Gambino added, "This settlement is a win-win for all parties, in particular the shareholders of LIG Assets. Now, we can focus on the incredible opportunities presented at the recent Sustainability Impact Conference hosted by LIGA at The Nashville Entrepreneur Center in downtown Nashville." LIG Assets, Inc., which trades on the over-the-counter market under the ticker symbol "LIGA," is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter. 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.
News Article | December 7, 2016
Aric Simons has been instrumental in the turnaround of LIG Assets, Inc. over the past six months. As a practicing attorney, Aric recently negotiated a Settlement Agreement with the Company's largest creditor that resulted in a reduction of over $750,000 in debt from its balance sheet. This settlement allows LIG Assets to move ahead on its new business plans to construct affordable sustainable homes. Aric founded Aric Simons & Associates in 1989, a practice focused on contract law in the entertainment and real estate industries. Aric has a long list of accomplishments, clients and contacts that will contribute to the growth and development of LIG Assets, Inc. Aric brings extensive real estate experience through construction of numerous development projects in and around the city of Chicago. Among his experience, Aric represented a State of Illinois legislative delegation and co-drafted legislation for Digital Rights Management, and drafted Amicus Brief for non-interactive license litigation. He also represented the Italian Consulate in Chicago for International transactions and served as Legal Counsel to the Illinois House Majority Chief of Staff. Aric received his B.S. in Business from the University of Illinois, Champaign-Urbana in 1984 and received a Juris Doctor from DePaul University College of Law in 1988. He was admitted to the Illinois State Bar to practice law in November of that year. Now that LIG Assets is firmly focused on execution of its business plan to build affordable sustainable home developments and communities, it has also bolstered its Advisory Board through the additional of two valuable new members; Mr. Joseph Venezia and Mr. Marvin Baker. Joe is a visionary leader skilled in managing the development and construction of assets through comprehensive planning, financial, schedule analysis. Joe is capable of taking a project from concept to completion, and is considered an expert in feasibility, planning, budgeting, entitlements, construction oversight and contracts. Among his deep real estate experience, Joe was Project Executive for three large-scale urban redevelopments. He also served as Senior Construction Manager for pharmaceutical campus repurpose projects that included bio-physical labs, admin and manufacturing, column packing and clean space. Joe also was Operational Executive for high profile restoration projects such as the Pentagon post 911, big box retailers post Katrina, and manufacturing facilities after major floods in the Midwest. Marvin Baker, based in Nashville, TN, is a successful corporate consultant and media executive with broad experience in all aspects of advertising, NTR sponsorship deals, distribution, syndication, packaging and management. Marvin has direct experience with negotiating contracts internationally, consulting with major TV and radio owners, and identifying venture capital. He is particularly interested in turnaround situations, where he can assist companies to develop a detailed strategy to smartly manage its finances and deliver profitability. LIG Assets, Inc. (OTC PINK: LIGA), is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter. 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 on file at www.OTCMarkets.com. Shareholder/Investor inquiries can be directed to:
News Article | December 3, 2016
Cannes, France, December 03, 2016 --( IoTize leverages on-chip debugging/programming resources to allow retrofit of existing product designs for the IoT in just days. The solution also renders the connectivity channel (NFC, Bluetooth, Wi-Fi, etc.) transparent to a product’s embedded firmware. This means evolving connectivity from Bluetooth to Wi-Fi, for example, is as easy as connecting a new IoTize module to the product. In 2016, KEOLABS introduced the first IoTize modules featuring NFC and Bluetooth connectivity with software-based local security for management of user profiles, access control and data encryption. IoTize is also a R&D collaborative research project lead by KEOLABS with the participation of STMicroelectronics, Gemalto, the Laboratoire Informatique de Grenoble (LIG) and the ISEN engineering school of Toulon. The project will culminate in 2018 with the addition of a complete, scalable infrastructure for cloud-to-core security. The project will culminate in 2018 with the addition of a complete, scalable infrastructure for cloud-to-core security. The IoTize project is endorsed by the French innovation clusters -- Pole SCS and Minalogic, and benefits from national and regional funding. The SESAMES are annual awards organized as part of the Trustech trade show to showcase innovations in the trust-based technologies industry in six categories; eGovernment, eTransactions, Manufacturing & Tests, IoT, Cybersecurity and Retail. The awards are attributed by an international panel of technology experts and were presented during the Trustech event in Cannes, France from November 29th to December 1st 2016. IoTize NFC / Bluetooth Low Energy (BLE) modules are featured on the KEOLABS stand Riviera J 045. Cannes, France, December 03, 2016 --( PR.com )-- Today at the Trustech exhibition for secure technologies, KEOLABS’ IoTize™ won the event’s SESAME Award in the category Internet of Things (IoT). IoTize is KEOLABS’ patented turn-key connectivity solution that allows companies to add RF interfaces such as NFC, Bluetooth and Wi-Fi to their products without redesigning their product’s firmware.IoTize leverages on-chip debugging/programming resources to allow retrofit of existing product designs for the IoT in just days. The solution also renders the connectivity channel (NFC, Bluetooth, Wi-Fi, etc.) transparent to a product’s embedded firmware. This means evolving connectivity from Bluetooth to Wi-Fi, for example, is as easy as connecting a new IoTize module to the product.In 2016, KEOLABS introduced the first IoTize modules featuring NFC and Bluetooth connectivity with software-based local security for management of user profiles, access control and data encryption. IoTize is also a R&D collaborative research project lead by KEOLABS with the participation of STMicroelectronics, Gemalto, the Laboratoire Informatique de Grenoble (LIG) and the ISEN engineering school of Toulon. The project will culminate in 2018 with the addition of a complete, scalable infrastructure for cloud-to-core security. The project will culminate in 2018 with the addition of a complete, scalable infrastructure for cloud-to-core security. The IoTize project is endorsed by the French innovation clusters -- Pole SCS and Minalogic, and benefits from national and regional funding.The SESAMES are annual awards organized as part of the Trustech trade show to showcase innovations in the trust-based technologies industry in six categories; eGovernment, eTransactions, Manufacturing & Tests, IoT, Cybersecurity and Retail. The awards are attributed by an international panel of technology experts and were presented during the Trustech event in Cannes, France from November 29th to December 1st 2016.IoTize NFC / Bluetooth Low Energy (BLE) modules are featured on the KEOLABS stand Riviera J 045. Click here to view the list of recent Press Releases from KEOLABS
News Article | November 29, 2016
itSMF USA is proud to announce the finalists and winners of their itSMF USA Awards. The goal of these awards is to recognize and celebrate excellence and achievements within our community. Each of the award finalists and winners were chosen for their excellence in IT Service Management, the corresponding business results and their support of the itSMF USA community. The itSMF USA Award Finalists and Winners are: Service Management in Action Award This award recognizes excellence in Service Management industry relevance and business outcomes by a company. The finalists for the Service Management in Action Award are Johnson Controls and Whirlpool Corporation. Both of these organizations did some very impressive work. The winner of the 2016 Service Management in Action Award is Johnson Controls. By establishing service management best practices and processes and through automation, Johnson Controls was able to reduce costs by $1.5 million. itSMF Contributor of the Year Award This award recognizes an individual for their excellence in Service Management and their overall participation in the Service Management industry and itSMF USA. This year’s finalists are Karl Bietsch and Veasta Hogue. The winner of the 2016 itSMF Contributor of the Year Award is Karl Bietsch. Mr. Bietsch is a mentor, teacher, speaker and long standing member of the itSMF USA community. He generously contributes his knowledge on Service Management content, trends and industry direction as a frequent writer and speaker. itSMF Community Excellence Awards These awards recognize the contributions from virtual and local itSMF Communities. These groups have provided outstanding contributions in support of the mission and goals of itSMF USA. There are two awards in this category, the Upstart LIG of the Year Award and the Sustained Performance LIG of the Year Award. The Upstart of the Year is awarded to a new Community that has shown tangible provision of relevant learning, growth and networking for Service Management professionals. The Sustained Performance Community Award is awarded to the group that has shown consistent commitment and success in creating relevant content, networking and learning opportunities for Service Management professionals. The winner of the 2016 Upstart LIG of the Year Award is the Ohio Valley Community, represented by President Jay Lescoe. The Ohio Valley Community focused on delivering WOW events. Through their dedicated strategy and excellent use of analytics, they were able to offer innovative programs which resulted in significant growth. The winner of the Sustained Performance Community of the Year Award is the Heartland Community, represented by President Marko E. Johnson. The Heartland Community has successfully held seven events per year over the last four years. They have demonstrated excellence in the fundamentals such as providing exceptional opportunities for members through networking and thought provoking presentations. In addition, they consistently applied good business practices relating to reporting and budgeting which allowed them to attract and maintain dedicated members. itSMF USA President’s Award This award is an honor that is rarely presented. Individuals receiving this award have made an outstanding contribution to the Service Management industry. They’ve given their time and talent to provide significant opportunities for others in our community. The winner of this year’s President’s Award is Jill Zimmerman. Ms. Zimmerman has been instrumental in creating a powerful program line up at the FUSION Conference. Through her leadership and guidance, she has contributed to the growth and learning of thousands of FUSION attendees. Congratulations to all the finalists and winners. We are proud to recognize your accomplishments. itSMF USA would also like to thank Fruition Partners, a CSC Company for their sponsorship of the awards program. Their dedication to the service management community allows us to recognize the outstanding work of our award winners. The itSMF USA Awards are presented at the FUSION Conference. Learn more about the awards and past winners at http://www.itsmfusa.org/awards About itSMF USA iTSMF USA is a chapter of itSMF International. They are the leading independent professional organization and forum for IT Service Management professionals in the US. For more information on itSMF USA, visit http://www.itsmfusa.org About FUSION 16 The FUSION 16 Conference is the premiere Service Management conference of the year. Jointly hosted by itSMF USA and HDI, FUSION 16 brings together the best speakers, vendors and networking opportunities for service management professionals for four days in Las Vegas, Nevada. Learn more about FUSION 16 at http://www.servicemanagementfusion.com/
News Article | November 29, 2016
MarketStudyReport.com adds “Global Condom Market Professional Survey Report 2016” new report to its research database. The report spread across 112 pages with table and figures in it. This report mainly covers the following Segment regions including (the separated region report can also be offered) The players list (Partly, Players you are interested in can also be added) Data including (both global and regions): Market Size (both volume - Unit and value - million USD), Market Share, Production data, Consumption data, Trade data, Price - USD/Unit, Cost, Gross margin etc. More detailed information, please refer to the attachment file and table of contents. If you have other requirements, please contact us, we can also offer! 6 Global 2011-2016E Condom Segment Market Analysis (by Type) 6.1 Global 2011-2016E Condom Sales by Type 6.2 Different Types Condom Product Interview Price Analysis 6.3 Different Types Condom Product Driving Factors Analysis 7 Global 2011-2016E Condom Segment Market Analysis (by Application) 7.1 Global 2011-2016E Consumption by Application 7.2 Different Application Product Interview Price Analysis 7.3 Different Application Product Driving Factors Analysis 8 Major Manufacturers Analysis of Condom 8.1 Karex 8.1.1 Company Profile 8.1.2 Product Picture and Specifications 8.1.3 Karex 2015 Condom Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.1.4 Karex 2015 Condom Business Region Distribution Analysis 8.2 Thai Nippon Rubber 8.2.1 Company Profile 8.2.2 Product Picture and Specifications 8.2.3 Thai Nippon Rubber 2015 Condom Sales, Ex-factory Price, Revenue, Gross Margin Analysis 8.2.4 Thai Nippon Rubber 2015 Condom Business Region Distribution Analysis 8.3 TTK-LIG 8.3.1 Company Profile 8.3.2 Product Picture and Specifications To receive personalized assistance, write to us @ [email protected] with the report title in the subject line along with your questions or call us at +1 866-764-2150
News Article | February 22, 2017
— Real estate developer Anil Kuchhal has announced a slew of projects under Rajasthan’s Mukhyamantri Jan Awas Yojana. The project prioritizes affordable housing for the low-income group living in urban areas. Some of the projects launched under the Anil Kuchhal owned AKG Affordable Housing banner include Pari Residency, Rishab Apartment, and Pallavi Apartment. “Mr. Anil Kuchhal has more than 35 years of experience in the real estate arena. He has managed housing projects for several leading real estate projects including Mangalam, Parsvnath, DLF, and Sun City,” says a spokesperson for the company. Explaining more about his affordable housing project, Anil Kuchhal says, ‘We now have various projects in Ajmer Road, Sikar Road, Raja Park, and Tonk Park, in several stages of completion. These are 1 BHK and 2 BHK flats. The Apartments are Ground + 2 and Ground +3 plans and self-contained with all modern amenities. When builders across Jaipur were wary about participating in the Jan Awas Yojana, we were one among the very few builders to accept and implement the scheme”. The company offers homes to the Economically Weaker Sections (EWG) and the Low Income Group (LIG) segments in several places across Jaipur. Anil Kuchhal is a real estate developer offers affordable housing schemes in and around Jaipur under the Affordable Housing Scheme for EWG and LIG segments. He has more than 35 years of experience in the business. He started at a very young age, often managing his parent’s Ayurvedic medical practice, and later venturing out to set his own business. For more information, please visit https://twitter.com/anilkuchhal
News Article | November 30, 2016
LIGA will deploy state-of-the-art technology to bring sustainable housing to a price level that is competitive with traditional construction. The average homeowner will be able to purchase a home in one of its developments that is sustainable; thus significantly reducing expenses for water and power. Additionally, LIGA will utilize construction materials that are waterproof, mold proof, and fireproof that will not be subject to aging decay associated with traditional building materials. The Company's designs are not necessarily intended for a niche market, but scalable for mass development. Earlier this month on Monday, November 14, 2016, LIGA hosted its first "Sustainability Impact Conference" at The Entrepreneur Center in Downtown Nashville, TN. At the conference, LIGA invited several of its strategic partners to speak about breakthrough technologies and advanced building materials. Just prior to the conference, a detailed audio-taped interview was conducted with Mr. Plarr. This 25-minute interview is now available the new LIGA website www.leaderingreenassets.com or at the following link: Mr. Plarr added, "Nothing like this currently exists in the United States. All these systems married together create this incredible, sustainable, inexpensive home." Robert Plarr has worked with some of the world's leading scientists to create his exclusive "Science of Sustainable Integration" - known worldwide as the "Plarr's Living Green Structure System." He is widely considered one of the most renowned expects in creating homes that are totally off the grid. Mr. Plarr has also solved one of the most challenging problems facing the green and sustainable sectors; the ability to collect, store, and deliver energy through power and battery systems. Mr. Plarr utilizes power and battery systems capable of collecting 90% of energy produced, store the power, and subsequently use that power. LIG Assets plans to use these power systems in all its homes. LIG Assets management and advisors are actively negotiating with land owners in at least six states to build model homes to demonstrate its advanced construction materials and showcase its innovative technologies. The model homes will serve as an effective sales tool to pre-sell homes in small, medium, and large developments. The Company will provide more detailed project plans as contracts are signed. Now that LIG Assets has officially entered into an amicable Settlement Agreement with its primary creditor pursuant referenced in its press release last week on Tuesday, November 22, the Company is moving swiftly to lock up multiple opportunities. LIG Assets, Inc. (OTCPK: LIGA), is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter. 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 on file at www.OTCMarkets.com.
News Article | December 19, 2016
DALLAS, TX--(Marketwired - Dec 19, 2016) - LIG Assets, Inc. ( : LIGA), also known as the "Leader in Green Assets" or "LIGA," today announced it has signed an agreement to co-develop its first official property to showcase its brand of sustainable, green, disaster-resistant homes. Construction of the waterfront property in Panama City Beach, Florida is scheduled to begin in January 2017 with an aggressive completion schedule. LIGA high performance homes are designed to be constructed in a more efficient and cost-effective manner than conventional homes. LIGA aims to deploy state-of-the-art technology and methodologies to bring sustainable housing to a price level that is competitive with traditional construction. Its business plan is to allow the average homeowner the ability to purchase a home in one of its developments that is sustainable, thus significantly reducing expenses for water and power. Additionally, LIGA will utilize construction materials that exhibit the highest ratings of moisture, mold and fire resistance and are far less susceptible to aging decay associated with traditional building materials. The company's designs are not necessarily intended for a niche market but scalable for mass development. The model home on the Panama City Beach property will serve to demonstrate and incorporate all elements of the company's innovative construction, design, and technology. LIGA also plans to implement "Agrihoods" in this design -- a way for homeowners to grow quality food indoors for personal consumption or sale. LIGA will discuss more about its innovative "Agrihoods" in the first quarter of next year. Once completed, the home will be available for public viewing through open houses and online virtual tours. Advisory Board member Adam Good stated, "LIGA is actively pursuing and developing, projects that range from small scale high performance showcase homes, like the one in Panama City Beach, to much larger home community developments that involve construction plans of over 1,000 homes. LIGA is working with its partners and advisors to value engineer its own brand of energy efficient, high performance homes that are priced and built for developing mass markets." Aric Simons, LIGA Chairman and Corporate Counsel, stated, "We believe Panama City Beach is an ideal location to showcase our homes. It is common to homes in this area to experience mold and weather decay or even complete destruction due to hurricanes. We are confident that our homeowners will have a mold and moisture resistant home that will not only save significantly on water and power, but also withstand the brunt force of a natural disaster." Mr. Simons plans to personally visit with co-developers of the Panama City Beach project from Tuesday, December 20 to Thursday, December 22. He will also visit other properties in the area that might be suitable for future developments. LIGA President Charles Gambino concluded, "We are pleased to report that, yet again, we managed to enter another agreement without the need to issue stock of any kind. We remain committed to our goal to significantly enhance shareholder value without dilution to our shareholders." LIG Assets, Inc. ( : LIGA), is focused on residential and commercial real estate acquisition and development as well as expansion into other sectors via potential acquisitions, mergers and joint venture partnerships. To receive updates directly from the company when material is disclosed, please visit www.LeaderInGreenAssets.com and subscribe to our investor newsletter. 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 on file at www.OTCMarkets.com.