COMMERCE, Mich., Feb. 18, 2014 /PRNewswire/ -- iTeknik Holding
Corporation (Other OTC:ITKH), a leader in the telecommunications
industry through its Send Global subsidiary, today posted its Half
Year FY 2014 financial results. Sales for the first six
months of fiscal year 2014, ending December
31, 2013, were $4,909,015
compared to $5,836,725 for the same
period in FY 2013. Sales for 2Q of FY 2014, October through
December, were $2,501,693 compared to
$2,822,463 during the same period of
FY 2013.
Fredrick W. Wicks, Chairman and
CEO of iTeknik Holding Corporation, stated, "We experienced a
difficult second quarter with many factors including the unusual
weather conditions negatively impacting our sales. Our profits were
also negatively affected by expenses that were related to the
Ceelox closing. The closing was expected to be complete in the last
fiscal year. However, it did not occur and as a result this expense
was recorded in the second quarter of the current fiscal year."
The complete FY 2014 Six Month 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 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.
SOURCE iTeknik Holding Corporation