West Palm Beach, FL, Dec. 11, 2017 (GLOBE NEWSWIRE) -- iTeknik Holding Corporation (OTC PINK:ITKH) today announced an update on the status of its Audit Project and subsequent plans to become fully reporting. The Company estimates the audit process will be completed by the middle of March, 2018. In April, 2017 the Company announced that it had engaged PCAOB certified auditing firm, L&L CPAs, to complete the audit of its books and records as part of the process to make the Company fully reporting with the United States Security and Exchange Commission (SEC). The PCAOB is directed by the Sarbanes-Oxley Act of 2002 to establish auditing and related professional practice standards for registered public accounting firms to follow in the preparation and issuance of audit reports.
Fred Wicks, iTeknik's Chairman and CEO said, “We have decided to change our audit period for the years ending December 31, 2016 and December 31 2017. By doing this we believe we can speed up the completion of this project. In conjunction with the audit period dates, we will also change our fiscal year to coincide with the Calendar year.”
Wicks also said, “While there is no obligation for us to be fully reporting, Management believes that this achievement will provide various benefits. Some of these benefits include improvements in acceptability of the Company for trading and brokerage purposes and supplying potential investors more attractive disclosure coverage. Once we have completed the audit, it is our intention to file the necessary documentation with the SEC in order to seek or request the fully reporting status.”
iTeknik Holding Corporation (OTC Pink:ITKH) trades on the OTC Pink tier of the OTC Market and is classified as “Pink Sheet Current Information.” For more information about the Company visit https://www.otcmarkets.com/stock/ITKH/profile.
About iTeknik Holding Corporation:
iTeknik Holding Corporation’s strategy (OTC Pink: ITKH) is to acquire fundamentally sound companies that are market accepted, scalable and demonstrate a quantifiable value proposition. Our focus is in companies that have strong market presence, brand awareness and talented and dedicated management teams. We primarily seek companies with the potential to achieve exceptional performance over time in the Marketing, Advertising and Digital Media space and related technologies. iTeknik may lend its operational support, management approach and financial resources to these companies to achieve improvements in revenue and earnings growth as well as positioning in the marketplace. iTeknik Holdings currently operates one wholly owned subsidiary, Big Rhino Corporation. For more information check us out at www.iteknik.com.
About Big Rhino Corporation:
Big Rhino Corporation is a wholly owned subsidiary of iTeknik Holding Corporation and is a full-service advertising and digital media agency. Big Rhino excels in providing on-strategy, fast, precise and creative marketing solutions that get our clients BIG results. We maintain a nimble in-house creative team with a unique talent for delivering the highest quality creative that we believe is faster than anyone else. When combined with our completely integrated digital, interactive and media teams, our clients have access to a strategic and responsive advertising machine. For more information check us out at www.bigrhino.agency
About Blender Company, LLC:
The Blender Company LLC. Blender, part of our holdings, is an Arizona based multi-cultural focused advertising and digital media firm with long standing clients in the state and local government agencies. Blender’s has extensive minority business enterprise (“MBE”) experience. Blender holds government contracts and has significant potential to expand business within state and local government agencies in Arizona.
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 our documentation, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements. Figures herein are unaudited and if audited results may vary.