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iTeknik Holding Corporation Posts Annual Report with Sales of more than $9.4 Million
iTeknik Holding Corporation Posts Annual Report with Sales of more than $9.4 Million.
About this update from Iteknik Holding Corporation
[{"type":"text","content":"\n\n\n\niTeknik Holding Corporation Posts Annual Report with Sales of more than $9.4 Million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\niTeknik Holding Corporation Posts Annual Report with Sales of more than $9.4 Million\nPR Newswire\nCOMMERCE, Mich., Oct. 6, 2014\n\n\n\nCOMMERCE, Mich., Oct. 6, 2014 /PRNewswire/ -- iTeknik Holding Corporation (Other OTC: ITKH), a leader in the telecommunications industry through its Send Global subsidiary, has posted its FY 2014 Annual Financial Report.  Sales for the fiscal year ending June 30, 2014 were $ 9,447,788. The Company showed a loss of $53,962.\n\nFredrick W. Wicks, Chairman and CEO, stated, \"FY 2014 was better than expected given tough market conditions and the effects of two acquisition transactions that did not close. We showed a loss in FY 2014, because iTeknik received and booked a deposit toward the purchase of Send Global assets in FY 2013 but paid expenses related to that transaction in FY 2014. If the related expenses were booked with the deposit, FY 2014 would have been the fourth straight year that iTeknik reported a profit.\"\n\nWicks added, \"In June we reported that the Stock Purchase Agreement with Axiologix, Inc. did not close as scheduled. However, we are currently in discussions with another party to finalize a transaction that will provide iTeknik with an opportunity to grow. In addition, we are in the process of developing some exciting new products and remodeling the technical side of our business which will enable the company to reduce costs.\"\n\nThe complete FY 2014 Annual Report and Continuing Disclosure Update can be viewed at: http://www.otcmarkets.com/stock/ITKH/filings.\n\niTeknik 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.\n\nAbout iTeknik Holding Corporation\n\nThrough its Send Global subsidiary, iTeknik provides wholesale and retail telecommunications services, and products worldwide. I...