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