COMMERCE, Mich., Sept. 30, 2013 /PRNewswire/ -- iTeknik Holding
Corporation (Other OTC: ITKH), a leader in the telecommunications
industry through its Send Global subsidiary, today posted its
unaudited Annual Report for FY 2013. Sales for Fiscal Year
2013 ending June 30, 2013 were
$11,422,470. Net Income was
$111,847. Other results included:
- Total liabilities decreased 16.0%
- Long-term Debt decreased 36.8%
- Stockholders' equity increased 24%
- Outstanding common shares were reduced from 477,614,987 to
277,614,987
- Outstanding Preferred A shares (convertible to common stock at
1 for 100) were reduced from 3,441,550 to 1,229,000
Fredrick W. Wicks, Chairman and
CEO of iTeknik Holding Corporation, stated, "There were a lot of
positives for us this year despite heavy competition in the markets
we serve. We were profitable for the third year in row.
We continued to make significant improvements in our financials in
terms of total liabilities, long-term debt and stockholder's
equity. We also improved our capital structure by retiring
shares."
The complete FY 2013 Financial Report and Continuing Disclosure
Update can be viewed at:
http://www.otcmarkets.com/stock/ITKH/financials
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 acquire start-up and
growth companies involved in the development of new
technology and products. iTeknik's Send Global subsidiary
provides wholesale and retail telecommunications services, and
products worldwide. Send Global's 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 17 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, but not limited to, general market conditions,
competition and pricing. Although the Company believes that the
assumptions underlying the forward-looking statements contained in
this press release are reasonable, any of the assumptions could be
inaccurate. Therefore, there can be no assurance that the
forward-looking statements included in this press release will
prove to be accurate. 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 readers are urged to carefully
read those statements. When used, the words "estimate,"
"anticipate," "expect," "believe," and similar expressions are
intended to be forward-looking statements.
SOURCE iTeknik Holding Corporation