iTeknik Holding Corporation (ITKH)

[Id_stocks]

Fourth Status Report $ITKH.... NO CHANGE!

iTeknik Holding Corporation

The Master Fund and iTeknik entered into a Securities Purchase Agreement and a Senior Secured, Convertible, Redeemable Debenture for $5 million effective December 20, 2016. As a result of existing defaults and other disputes between the parties, litigation was commenced on April 4, 2017. On June 21, 2019, the parties entered into a settlement agreement for $4 million.
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TCA appears to have purchased all the property of iTeknik Holding Corporation and Big Rhino Corporation via a credit bid at an auction in March 2020, including furniture, accounts receivable, and intellectual property. DSI and the Receiver’s counsel are currently reviewing prospects for monetizing these assets.