Business
iTeknik Holding Corporation Reports 14% Increase in Revenues to $856103 for the Quarter Ending December, 31, 2017
iTeknik Holding Corporation Reports 14% Increase in Revenues to $856103 for the Quarter Ending December, 31, 2017.
About this update from Iteknik Holding Corporation
[{"type":"text","content":"\n\n \n West Palm Beach, FL, Feb. 20, 2018 (GLOBE NEWSWIRE) -- iTeknik Holding Corporation (OTC PINK:ITKH) announced results for its 3Q FY 2018 ending December 31, 2017.  These results for the quarter were primarily from its wholly owned subsidiary, Big Rhino Corporation.  Highlights of the financials which are posted on OTC Markets include these improvements from prior quarter: Revenues improved 14% from $750,954 to $856,103Net operating income improved 27.5% from $95,097 to $121,318Gross Margin was 57% The Company also reported a net loss quarter-over-quarter of $257,896 versus $235,333.  The current quarter includes a extraordinary charge of $45,585 for employee stock plan costs.  Without this charge the net loss would have been reduced to $212,311.  The net loss from the current quarter includes $225,000 of interest payments due to TCA Global Fund. The interest is accrued in the Company’s financial reports but has not been paid due to litigation with TCA Global Fund which has been previously reported.    Big Rhino, a full service advertising agency, began operations on January 2, 2017 and has completed its first full year of operations. The following chart details the growth Big Rhino has achieved in 2017: Revenues increased 105% from January to DecemberNet operating income average 7% for the year and increased from -$16,762 in the first six months to $208,410 in the last six months MonthRevenuesNet Operating Income MonthRevenuesNet Operating IncomeJanuary$130,994 -$34,623 July$229,873  $ 1,830February$176,563  $ 5,354  August$263,029 $47,432March$191,756   $ 3,640 September$258,052 $37,831April$196,343 -$ 3,162 October$297,056 $65,965May$227,426  $10,614 November$289,967 $36,614June$221,893  $ 1,415 December$269,081 $18,738 Fred Wicks, iTeknik's Chairman and CEO said, “The Big Rhino team has produced a tremendous first year.  The rate of revenue growth has been extraordinary, and the profit increase, especially in the last six months, has been excellent.” Wicks also said, “In addition to the financial success, Big Rhino has diversified its client base from almost exclusively automotive to several other industries including medical and real estate.&...