iTeknik Holding Corporation (ITKH)

[pylehead]

Hmmm, did everyone skip over the news about the possible lawsuit?

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=168674

Under the advice of counsel, on March 26, 2017 we placed our Lender, the TCA Global
Master Credit Fund L.P., into default for inducing us, by misrepresentation and
omissions, to enter into the Asset Purchase Agreement Dated December 30, 2016 and
related documents:
More specifically we contend that the TCA Global Master Credit Fund L.P., failed to
release escrow funds, provided inaccurate financial projections and failed to disclose
debts related to the assets among other things. TCA responded on March 29, 2017 by
sending us a notice of default with a 10 day notice to cure by paying all fees TCA claims
without offset of the monies the company has claimed is owed by TCA.
Management hopes to be able to come to an amicable solution to the matter but is
willing to take the matter to a court of competent jurisdiction to have the matter
adjudicated there.
While there are no guarantees that we can settle this amicably or without litigation or
that litigation would be successful, Management is confident that the outcome should be
favorable to the Company; that taking this action is in the best interests of our
shareholders and that our operating company, Big Rhino, will suffer little or no disruption in its business during the pendency of the resolution of this dispute.
Our subsidiary, Big Rhino Corporation continues to work hard to grow its business for
the benefit of our shareholders and will continue to do so through the negotiations
and/or litigation with TCA.