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iTeknik Holding Corporation Provides Update on Pending Axiologix Transaction
iTeknik Holding Corporation Provides Update on Pending Axiologix Transaction.
About this update from Iteknik Holding Corporation
[{"type":"text","content":"\n\n\n\niTeknik Holding Corporation Provides Update on Pending Axiologix Transaction\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 Provides Update on Pending Axiologix Transaction\nPR Newswire\nCOMMERCE, Mich., June 17, 2014\n\n\n\nCOMMERCE, Mich., June 17, 2014 /PRNewswire/ -- iTeknik Holding Corporation (OTC Pink:ITKH), announced today that the scheduled closing of the agreement with Axiologix, Inc. of Atlanta, Georgia to sell a majority of iTeknik's outstanding stock has been delayed. This transaction was expected to close not later than June 7, 2014.  However, Axiologix Inc. did not complete the Purchaser's requirements of the Stock Purchase Agreement that would have resulted in a majority of iTeknik's outstanding stock being acquired by Axiologix, Inc. Both parties remain committed to complete the transaction as soon as possible, however, no new closing date has been established.  \n\nFredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, \"We felt it was important to update shareholders following the passing of the targeted close date.  At this point we have every reason to believe that this is only going to be a short delay until closing as both sides agrees that the combination of companies should result in a platform that can grow and prosper.  However, as we have learned from prior merger attempts, the Company cannot afford to wait for extended periods to complete a transaction as it has negative effects on operations.  Consequently the Board is committed to resume the search for other options, if the delay becomes extended.\"   \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 CorporationiTeknik Holding Corporation was formed to develop and launch new technology and products in the global communications market.  Through its Send Global subsidi...