GREENZ

[gwat1979]

ITKH .0027 earnings report, undiscovered here w/ $630k market cap:

iTeknik Holding Corporation Posts 39% Increase in Revenues from Prior Year to $1,587,487 in its Semiannual Report for the Period Ending June, 30, 2018

West Palm Beach, FL, Aug. 16, 2018 (GLOBE NEWSWIRE) -iTeknik Holding Corporation (ITKH) today announced its semiannual results for the period ending June 30, 2018. Recently the Company announced that it had changed is fiscal year from ending in June to ending in December. This is the reason that this is a second 2Q report posted this year. The results for the period were primarily from its wholly owned subsidiary, Big Rhino Corporation.

Highlights of the financials which are posted on OTC Markets include these improvements from prior quarter:

Revenues improved 39% from the prior six month period from $1,145,142 to $1,587,457
Revenues improved 6% from the prior three month period from $771,557 to $815,880
Gross Margin was 51% for both the three and six month periods.

The Company also reported a lower net loss quarter-over-quarter of $237,839 versus $319,390. The prior quarter includes an extraordinary charge of $45,585 for employee stock plan costs. The net loss from the current quarter includes $225,000 of interest payments accrued as part of the TCA Global Fund debenture agreement. The interest is accrued in the Company’s financial reports but has not been paid due to litigation with TCA Global Fund which has been previously reported.

Big Rhino, a full service advertising agency, began operations on January 2, 2017 led by its President, Kyle Eng and his team in Peoria, Arizona. Mr. Eng also manages the Company’s other subsidiary, The Blender Company; also located in Arizona. Blender is a multi-cultural focused advertising and digital media firm with long standing clients in state and local government agencies.

Fred Wicks, iTeknik's Chairman and CEO said, “We are well into our second year of operation and Kyle and his team continue to grow the business as a strong rate. This comes on the heels of a phenomenal first year of operation in which they grew the business 105%.”
Wicks also said, “In addition to the financial success, Big Rhino has had nearly no turnover in its diversified client base which is the result of Big Rhino’s extraordinary quality, delivery time and client focus.

The approximate breakdown of the Company’s client base consists of:
Automotive 73.6%
Medical services 12.2%
Real estate 2%
Other segments 12.2%

iTeknik Holding Corporation (ITKH) trades on the OTC Pink tier of the OTC Market and is classified as “Pink Sheet Current Information.” To view complete posted financials on the company, visit https://www.otcmarkets.com/stock/ITKH/filings.