COMMERCE, Mich., June 6, 2015 /PRNewswire/ -- iTeknik Holding
Corporation (Other OTC:ITKH), a leader in the telecommunications
industry today announced the results of a Board of Directors
meeting held on April 2, 2015.
The Board has authorized management to seek up to $5,000,000 in capital in order to implement the
following activities.
- Provide acquisition capital to accelerate iTeknik's
merger/acquisition strategy
- Uplift the Company to become fully reporting
- Provide Send Global with funding to launch several new products
and to recruit key sales executives in important U.S. markets
Fredrick W. Wicks, Chairman and
CEO of iTeknik Holding Corporation, stated, "The Board has decided
to renew our strategy as a holding company. We are in
discussions with a number of companies to implement a strategy of
growth through merger or acquisition. We are no longer actively
pursuing the divestiture of Send Global. In fact we have secured
capital and invested in Send Global's growth program. At the same
time we are in the process of restructuring iTeknik in order to
facilitate the change in strategy."
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
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; and wholesale carrier
routing services; Web-based reseller solutions; prepaid calling
solutions; international cellular calling; and retail point of sale
solutions. The company serves B2B carriers, telecom resellers,
retail outlets and consumers 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 19 years of history in
the telecommunications industry. For more information 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.
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SOURCE iTeknik Holding Corporation