I enjoyed meeting the staff again at the satellite office in commerce, MI. Last year was the first time I meet Mr. Wicks and the staff. Both times I was welcomed in without appointment. Stock is a long term hold for me. Keep your eye out for NEWSSSS. I expect another SS reduction in the near future, like the last one we had last year.
Fred Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, "With economic conditions improving, and our restructuring phase completed, we believe that now is the ideal time to analyze options which would help us grow. One of the options we are considering is to raise $2 million for marketing, new software and equipment, and up-listing to the Bulletin Board or NASDAQ. Other options include a plan to look for suitable acquisitions in order to accelerate our growth further."
Fredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, "This change is in response to feedback from the investment community that our capital structure was not optimum and concern about stock dilution. In addition, the Board wanted to improve the capital structure in the event a merger or acquisition opportunity becomes available. So the Board took the initiative to retire personal common and preferred shares. The majority of the remaining outstanding common and preferred shares are restricted and governed under SEC Rule 144. When our Annual Report is published in September, I will explain more about the revised share structure."
Read over the interview I had with Mr. Wicks last summer. Everything is coming together as he said it would.
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