iTeknik Holding Corporation (ITKH)

[Penny Stocks 2.0]

HUGE DEBT REDUCTION/255M SHARES CANCELLED >> , The company settled three debts which consisted of two third party notes and a large trade debt. In all these debts amounted to $252,470. These debts were settled with payments by the Company of $60,490. This resulted in savings to the Company of $197,480. The Company's quarterly filing for the period ending March 31, 2017 will reflect these will reflect these transactions.

In addition to the debt reduction, the agreements prevented the potential issuance of 255 million shares of the Company's common stock by terminating the Note Holders rights of conversion. The Agreements also resulted in the return of 1,499 shares of the Company's Class B Preferred Shares from former affiliates.