COMMERCE TOWNSHIP, Mich., May 19, 2014 /PRNewswire/ -- iTeknik Holding Corporation (Other OTC: ITKH), a leader in the telecommunications industry through its Send Global subsidiary, has posted its third quarter, FY 2014 financial results. Sales for the first nine months of fiscal year 2014, ending March 31, 2014, were $ 7,179,580. Sales for third quarter of FY 2014, January through March, were $2,501,693.
Fredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, "We had a difficult third quarter due to new marketing programs that our competitors have launched. We are looking forward to combining resources with Axiologix in June so we can better respond to these competitive challenges."
Recently the Company announced that it had signed a Stock Purchase Agreement to sell a majority of iTeknik's outstanding stock to Axiologix, Inc. of Atlanta, Georgia. This transaction is expected to close not later than June 7, 2014.
The complete FY 2014 Nine Month Report and Continuing Disclosure Update can be viewed at:
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 iTeknik Holding Corporation was formed to develop and launch new technology and products in the global communications market. 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; wholesale carrier routing services; reseller billing and reporting; Web-based reseller solutions; prepaid calling card solutions; international cellular calling; and retail point of sale solutions. The company serves B2B carriers, telecom resellers, retail outlets and consumers direct 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 16 years of history in the telecommunications industry. For more information please 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.
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