COMMERCE, Mich., Oct. 6, 2014 /PRNewswire/ -- iTeknik Holding
Corporation (Other OTC: ITKH), a leader in the telecommunications
industry through its Send Global subsidiary, has posted its FY 2014
Annual Financial Report. Sales for the fiscal year ending
June 30, 2014 were $ 9,447,788. The Company showed a loss of
$53,962.
Fredrick W. Wicks, Chairman and
CEO, stated, "FY 2014 was better than expected given tough market
conditions and the effects of two acquisition transactions that did
not close. We showed a loss in FY 2014, because iTeknik received
and booked a deposit toward the purchase of Send Global assets in
FY 2013 but paid expenses related to that transaction in FY 2014.
If the related expenses were booked with the deposit, FY 2014 would
have been the fourth straight year that iTeknik reported a
profit."
Wicks added, "In June we reported that the Stock Purchase
Agreement with Axiologix, Inc. did not close as scheduled. However,
we are currently in discussions with another party to finalize a
transaction that will provide iTeknik with an opportunity to grow.
In addition, we are in the process of developing some exciting new
products and remodeling the technical side of our business which
will enable the company to reduce costs."
The complete FY 2014 Annual Report and Continuing Disclosure
Update can be viewed at:
http://www.otcmarkets.com/stock/ITKH/filings.
iTeknik Holding Corporation (OTC Pink:ITKH) is classified as
"Current Information" and trades on the OTC Pink tier of the OTC
Market. For quotes and market information on the company
visit http://www.otcmarkets.com/stock/ITKH/company-info.
About iTeknik Holding Corporation
Through its Send Global subsidiary, iTeknik provides wholesale
and retail telecommunications services, and products worldwide. Its
services include voice over Internet protocol origination and
termination; A-Z routing and switching; and wholesale carrier
routing services; Web-based reseller solutions; prepaid calling
solutions; international cellular calling; and retail point of sale
solutions. The company serves B2B carriers, telecom resellers,
retail outlets and consumers through websites such as
www.MyMobile011.com, www.GreatMinutes.com, www.AloBilady.com,
www.IndiaMinutes.com and www.MexicoMinutes.com. iTeknik
Holding Corporation was founded in 2007 and is based in
Commerce, Michigan. Through its
subsidiaries, iTeknik has more than 19 years of history in the
telecommunications industry. For more information visit website
www.iteknik.com and www.sendglobal.com.
Safe Harbor: This document contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended, which are intended to
be covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and
uncertainty, including without limitation, the ability of the
Company to successfully implement its turnaround strategy, changes
in costs of raw materials, labor, and employee benefits, as well as
general market conditions, competition and pricing. Although the
Company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, any of
the assumptions could be inaccurate, and therefore, there can be no
assurance that the forward-looking statements included in this
letter will prove to be accurate. In light of the significant
uncertainties inherent in the forward-looking statements included
herein, the inclusion of such information should not be regarded as
representation by the Company or any other person that the
objectives and plans of the Company will be achieved. In assessing
forward-looking statements included herein, readers are urged to
carefully read those statements. When used in the Annual Report on
Form 10-K, the words "estimate," "anticipate," "expect," "believe,"
and similar expressions are intended to be forward-looking
statements.
SOURCE iTeknik Holding Corporation
