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ITKH NEWS

iTeknik Holding Corporation Posts 29.7% Increase in Revenues from Prior Year to $2,458.976 in its Third Quarter Report for the Period Ending September, 30, 2018

West Palm Beach, FL, Nov. 15, 2018 (GLOBE NEWSWIRE) -- iTeknik Holding Corporation (OTC PINK: ITKH) today announced its third quarter results for the period ending September 30, 2018. The results for the period were from its wholly owned subsidiaries, Big Rhino Corporation and the Blender Company.

Highlights of the financials which are posted on OTC Markets include these improvements over prior periods:

-- Revenues improved 29.7% from the prior nine-month period from $1,587,457

to $2,458,976

-- Revenues improved 6.8% from the prior three-month period from $815,880 to

$871,519

-- Gross Margins were 50% and 51% for the three- and nine-month periods

respectively

-- The Company also reduced its net loss quarter-over-quarter by 11.3%

The net loss for 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 its ongoing litigation with TCA Global Fund. Management expects the Company to prevail in the litigation. If it does prevail these interest charges will be reduced significantly.

Fred Wicks, iTeknik's Chairman and CEO said, "Kyle Eng and his team at Big Rhino Advertising grew their company at an exceptional rate of 105% in 2017 its first year of operation. They continue to grow at an impressive rate. If we prevail in our lawsuit or come to an agreement with TCA we will use the Big Rhino model to pursue acquisitions of additional agencies and increase the value of iTeknik."

Wicks also said, "We are getting close to completing our financial audit of iTeknik. Once the audit is complete, we can become fully reporting. Being fully reporting along with our solid growth will make the Company much more valuable to investors."

iTeknik Holding Corporation (OTC Pink: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.