ITKH .0027 224 million OS
iTeknik Holding Corporation Provides Update on Audit Project Expected to be Complete by Mid-March
GlobeNewswire 11:06 AM ET
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 h ave 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."
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