iTeknik Holding Corporation Posts Annual Report with Sales of more than $9.4 Million

COMMERCE, 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.

Fredrick 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."

Wicks 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."

The complete FY 2014 Annual Report and Continuing Disclosure Update can be viewed at: http://www.otcmarkets.com/stock/ITKH/filings.

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.

SOURCE iTeknik Holding Corporation

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