iTeknik Holding Corporation Signs Agreement to Market BioFusion, Inc.'s Certified Eco-Friendly Bio-Based Cleaning Products
iTeknik also announces new closing date for sale of Send Global assets.
COMMERCE, Mich., May 8, 2013 /PRNewswire/ -- iTeknik Holding Corporation (Other OTC: ITKH) announced today that it has signed an agreement with BioFusion, Inc. of Ridgewood New Jersey to help expand the sales of BioFusion's unique products for home, office, commercial and military markets. The Company already sells products under several of its own trademarks such as BioFusion™, Green Beast™, Clutter Clean™ and Natures Solution™ The Company also sells private label products at Military, PX's, and on Home Shopping Network. In addition, its private label products are available in stores in virtually all states through large independent distributors. The company's website is www.biofusion.co.
Fredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, "We have been in discussions with BioFusion for more than a year about developing a formal business relationship. It is a company with unique bio-degradable organic cleaning products. It has several competitive advantages in its products, key environmental certifications, and solid potential for growth. BioFusion fits iTeknik's strategy to develop and, in this case, expand new technology. Though we are starting with a marketing agreement, a more formal relationship may evolve as BioFusion achieves its growth objectives."
David Gubb, President and CEO of BioFusion stated, "The secret of our products and what makes us unique is they are all-natural based. They are made up of special organic proteins that supercharge the cleaning and sanitizing abilities of our surfactants (surfactants reduce the tension between two liquids or a liquid and a solid). This gives us the ability to avoid harmful chemicals and reduce the amount of surfactant needed to clean quickly, efficiently and safely. We are excited about this new opportunity to work with iTeknik."
On December 11, 2012, iTeknik signed an asset purchase agreement with Ceelox, Inc. of Overland Park, Kansas to sell the assets of Send Global Corporation pending an audit by Rothstein Kass. iTeknik also announced today, that with the audit of Send Global for the two-year period ending June 30, 2012 successfully completed, the closing of this transaction is expected not later than May 25, 2013.
About iTeknik Holding Corporation
iTeknik Holding Corporation was formed to develop and launch new technology and products. 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. iTeknik Holding Corporation was founded in 2007. It is a Wyoming Corporation and is based in Commerce, Michigan.
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
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