COMMERCE, Mich., May 17, 2013 /PRNewswire/ -- iTeknik Holding
Corporation (Other OTC:ITKH), today posted its third quarter and
nine month financial results for FY 2013. Sales for the third
quarter of FY 2013 were $2,897,117.
The company posted a loss of ($37,
843) for the period. Sales for the 9 month period ending
March 31, 2013 were $8,733,842 compared to $9,333,109 in the prior year. There was a
net loss of ($47,603), for the nine-month period compared to a
profit of $142,256 during the first nine months of FY
2012.
Fredrick W. Wicks, Chairman and
CEO of iTeknik Holding Corporation, stated, "The third quarter was
very difficult. Our financial results were directly related to the
TV marketing efforts of large competitors and their dramatic price
reductions for international calls. In addition, the growth
of free international calling on the internet has affected our
bottom line. Our operations team is working very hard to improve
performance by diversifying into new products such as SIM cards and
cutting expenses wherever possible."
The complete FY 2013 3Q Report and Continuing Disclosure Update
can be viewed
at: http://www.otcmarkets.com/stock/ITKH/financials.
iTeknik Holding Corporation is classified as "Current
Information" and trades on the Pink tier of the OTC
Market. For 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. 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