COMMERCE, Mich., April 17, 2014 /PRNewswire/ -- iTeknik Holding
Corporation (Other OTC: ITKH), today announced that The Company,
along with its Board of Directors and Officers, have signed a Stock
Purchase Agreement to sell a majority of its outstanding stock to
Axiologix, Inc. of Atlanta,
Georgia.. This transaction is expected to close not later
than June 7, 2014. Upon closing of
this transaction, Vincent Browne,
CEO and President of Axiologix will become Chairman, CEO and
Corporate Secretary of iTeknik Holding Corporation. Jeffrey Lauzon will remain with iTeknik Holding
Corporation as General Manager of Send Global Corporation.
Axiologix Inc. is an International Technology and Services
Organization focused on delivering Cloud-based Products and
Services globally. Axiologix is a provider of Voice, Data and Cloud
services to US small and medium size businesses and other operators
globally. Axiologix recently acquired iWorld Services, a market
leader in delivering retail and wholesale VoIP services, products,
advanced web applications and software tools targeting high growth
emerging markets. For more information on Axiologix visit
http://www.otcmarkets.com/stock/AXLX/company-info.
Fredrick W. Wicks, Chairman and
CEO of iTeknik Holding Corporation, stated, "We are very pleased to
have found an organization that can help iTeknik and Send Global
grow. Axiologix has a very strong global strategy that has
the potential of creating a large technology and services
enterprise."
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