Iteknik Holding Corporation Corporation (EM) (ITKH)

IDK what happened. Haven't been following it at all. Shares still sitting in my account, major red...LOL. Maybe one day it will rise from the ashes. I've had it happen to me before so it is possible.

Hey everyone, just curious if anyone has any info on ITKH.

Hey everyone, just curious if anyone has any info on ITKH.

Anyone else having trouble opening the receiver page? Any updates out there?

Thanks for the update. I was thinking the same!

Receiver filed in mid February...but nothing related to ITKH. I believe the iTeknik loan is part of the loan portfolio that is still in the process of being sold. Maybe sometime this year...lol

https://tcafundreceivership.com/docs/US_DIS_Eleventh_Quarterly_Status.pdf

No

Hey Benosufan, jc have you received any additional communication from the receiver?

Got it... thought you meant from other source. Thanks.

https://tcafundreceivership.com/courtdocs.html

What? please provide a link. I'm not seeing anything.

Lots of new updates on the docket but no news.

Thanks for update! Merry Christmas & happy new year to you as well!

Just received email from receiver. New quarterly filing posted does not mention Iteknik at all...same as before. They are still negotiating best offer for the loan portfolio. Merry Christmas and happy new year!

I have read every filing the receiver filed. The last I remember them saying anything about ITKH was that the loan was being sold as part of the loan portfolio. That means the original loan ITKH received from TCA Global is still being considered collectable. Whoever ends up with the loan is going to figure out there is nobody to collect from. In fact the Wyoming SOS company filings from years ago showed Wicks turned this company and ticker over to TCA Global. I am no securities lawyer. But I have one idea of what might occur. The loan is sold as part of the bigger loan portfolio to some entity. That entity tries to collect on the loan, but they find out there is no one to collect from. Eventually they write off the bad debt and the ticker stays dark or at some point it is resurrected from the grave and that entity or another entity uses it. Again, just one guess as to what might happen. We have no choice but to wait and hope there is some action again one day for ITKH.

Does anyone know what we are waiting for here? Will the shares just disappear on e everything is complete? I reached out to the receivership but got no answers.

Here's a reply from the investment group....I'm actually surprised they even responded to my email...lol
"I am afraid it seems that the equity is worthless."

Lol ..got an email from some investment group looking to buy peoples interests that will receive a distribution from the receiver. I told them I had millions of shares in Iteknik I would sell them....haven't heard anything...lol. Boy this is stuck in the mud for years. Hoping maybe one day this will get sold. Looking forward to see who buys the loan portfolio...would love to see their faces when they see there's no one to collect from on this loan. The CEO signed the ticket and what was left of assets over to TCA. Not sure how the receiver didn't figure that out. Of course they had bigger fish to fry.

It’s alive
Kinda

Who knows? All I know is they are selling the ITKH loan as part of the portfolio. I have no idea what is going to happen here. I figure I will eventually count this one as a loss some day. But I have lots of patience. So maybe sometime in the future this ticker will rise out of the ashes. At some point whoever buys the portfolio will look to collect on the loan and figure out what their options are. Need a securities lawyer to figure it out IMO. And that is not me

New posing on receivership fund. No mention of funds regarding ITKH. I guess we may be SOL?

Appreciate the response. Thank you!

Agreed. Sunk cost fallacy at its finest!

Who knows? Not sure the receiver realized this ticker was turned over to TCA. All we know is the original loan from TCA to ITKH is being sold as part of the loan portfolio. If I remember correctly the Wyoming SOS document filed by the previous CEO Wicks showed he turned the company over to TCA because he couldn't pay. There was a long drawn out court battle between Wicks and TCA....TCA won. So how does anyone collect on the loan when there is nothing left to collect on? TCA owns the loan and ITKH now..... is how I saw things happen here. Again who knows? I hold some worthless shares hoping one day this is sold and new opportunities arise!

Anything here?

https://tcafundreceivership.com/docs/DE215OrderRecUnoppMotion.pdf

Got an email from the receiver. New filing doesn't address anything related to ITKH. But it did say the bids are due in February for the loan portfolio. So maybe in 3 months we will see who purchased the portfolio if not sooner. Anything is still possible in the future.

Woke up to it being green in my account after being zip, zilch, nada. Using Ameritrade
GLTU - GLTA - WIC

I see no activity...no bid or ask on etrade..although it is on the expert market...LOL. Show me the activity you speak of. thanks.

ITKH showing activity premarket. Something might be up!

Wouldn't that be nice...LOL. I highly doubt we get any proceeds from the sale of any assets left from Big Rhino. The receiver reported that the loan will be sold as part of the overall portfolio of loans. So I don't see this going anywhere anytime soon. Whoever buys the loan portfolio will have to sift through what's left of ITKH. Eventually someone will realize there is nothing left but the shell. Maybe the debt/loan is converted to commons at some point? I originally thought that the receiver would be dealing with the debt but it doesn't appear they are doing anything but just selling the loan to someone else. A long process that doesn't resolve anything for ITKH shareholders. So no one really knows much of what is going to happen here. I just don't expect them to hand over anything to shareholders. If anything the debt gets converted at some point then a RS. The one thing I am not sure of is ITKH was signed over to TCA Fund by the old CEO wicks...at least that's the filings I saw a long time ago. Therefore I believe ITKH is held by TCA fund, or now the receiver. I haven't ready anything in their reports that address this. Just talks about the loan...so who knows? Maybe we get lucky and whoever buys the portfolio will sell the shell/ITKH to pay for the loan and forgive the difference....LOL :)

Your guess is a good as mine
Pffft

Does anyone have an idea of what’s in the works? If sold will they automatically place individual share proceeds sale in brokerage account?

Another uneventful filing! Smh $itkh

Thanks . It must be a very large PORTFOLIO.

You would have to talk with the receiver. The filings list all of the loans but only give little detail of each. Looks like NDA's were signed by truly interested parties who were given access to "data room". Looking forward to this portfolio being sold next year and maybe this ticker eventually sold. IDK...potentially a lot of stuff for the buyer to sort through before selling. But maybe the receiver already knows where the ITKH assets are located (if any left) and their value...let's hope.

1. Sale of the Loan Portfolio

In September 2021, the Receiver engaged B. Riley to facilitate the sale of the loan portfolio. B. Riley prepared marketing materials and sent solicitations to its extensive network of financial professionals and potential purchasers to participate in the sales process. These parties
included investors, hedge funds, and private equity firms. Thirty-nine investors expressed interest in the opportunity, and twenty-four ultimately executed Non-Disclosure Agreements (“NDA”) and were given access to the data room. Seventeen potential investors continue to conduct due diligence on the loan portfolio in preparation for the bidding process. The Receiver and his counsel have met with prospective purchasers upon request to answer their due diligence inquiries where appropriate. The Receiver plans to set final bidding rules and deadlines in the next few weeks.

Thank you for the update.
Can you obtain a copy of "THE PORTFOLIO" ?

Receiver posted new filings (well I got an email from them...not posted online as of this morning).

Important Updates:
1. We know that ITKH will be sold as part of "the portfolio" of loans.

2. The receiver has met with investors interested in purchasing the portfolio and plans to set final bidding rules in the next few weeks.

Someone correct me if I'm wrong, ITKH ticker will be part of this loan portfolio sale. Whatever is left of the assets of Big Rhino and ITKH...who knows the value. The credit bid amount has never been disclosed by receiver. According the last ITKH filings in 2019 there is basically no intellectual property. They stated no trademarks or patents. They did own several website urls. They reported over 5 million in assets...most of that being "good will"...is that amount related to Big Rhino/acquisition value from back in 2016? probably...but who knows what it is left of Big Rhino and it's value now. The earlier receiver filings say they were trying to track down the assets and figure the value of those assets. The current filing does not state this....just says the loan will sold as part of the loan portfolio. Maybe they were never able to track down the assets....IDK

Someone smarter than me....what does a buyer of this ticker/loan do with it? How do they collect on the loan? Would the load become null and void and the only value be left in the shell?

So we wait....happy holidays


Page 32 of receiver filings.....

iTeknik Holding Corporation
Loan Origination: December 2016
Loan Principal: $5,698,064
Loan Interest: $3,642,686
Fees w/ Interest: $5,102
Total Outstanding: $8,760,852

The Master Fund and iTeknik entered into a Securities Purchase Agreement and a Senior Secured, Convertible, Redeemable Debenture for $5 million effective December 20, 2016. As a result of existing defaults and other disputes between the parties, litigation was commenced on April 4, 2017. On June 21, 2019, the parties entered into a settlement agreement for $4 million. TCA appears to have purchased all the property of iTeknik Holding Corporation and Big Rhino Corporation via a credit bid at an auction in March 2020, including furniture, accounts receivable, and intellectual property. The loan will be included for sale as part of the loan portfolio.

TCA receiver is due for another filing...maybe we find more info on ITKH? Could take a long time before anything happens here...I can wait it out :)

Dead in the water. As shame as it was a very clean shell, will low shares if they got past the legal stuff. DEAD MONEY.

$ITKH is on a direct path for a trading halt.

I just wish I could buy these trips....I still wonder who is able to place buy orders....probably wallstreet executives will buy the low trips here before we are able to if/when the time comes that this is sold and eventually goes current reporting. Hoping for the best but SEC cut the retail trader out of making money while wallstreet bankers will make a killing on OTC.

nothing will happen here until ITKH is sold. Waiting game... $ITKH GLTA

Dead

So who exactly is still able to place a buy order in these no info OTC stocks? SEC is a joke!

And Etrade's halt on buying is after this Friday August 27th.

TDAmeritrade traders notice

On September 28, 2021, new amendments adopted by the U.S. Securities Exchange Commission (SEC) go into effect to enhance investor protection and improve issuer transparency. These amendments restrict the ability of market makers to publish quotations for those companies that have not made required current financial and company information available to regulators and investors.

We previously communicated that ahead of the regulatory enforcement date, we will only accept orders to liquidate impacted positions (i.e. no new buy orders) starting August 13, 2021. With the fluid nature of the situation and to better align our efforts across the combined company, we have adjusted the date for restricting the securities to on or after September 3, 2021. After the amendment officially goes into effect on September 28, 2021, it may be more difficult to liquidate these securities. Quoting and market liquidity may also be very limited.

Time will tell....keep selling so I can load up 0001s :)

Unless they file of there is a merger which delays filing up to 18 months this ticker will be suspended September 28th.

100% agreed! Thanks Benosufan $ITKH