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iTeknik Holding Corporation Subsidiary to Reduce Costs by Routing Calls to Asia Through Jaina Systems Network Group

^{Published on 2010-06-15 08:50:16 - Market Wire}
 

COMMERCE, MI--(Marketwire - June 15, 2010) - iTeknik Holding Corporation (PINKSHEETS: [ ITKH ]), a leader in the telecommunications industry, today announced that the Company's Send Global subsidiary has entered into an interconnection agreement with Jaina Systems Network Group, an international telecom services provider with headquarters in New York and a presence in India, Singapore and the UK. Jaina Systems is one of the major Asian wholesale service providers maintaining interconnections to over 110 carriers in more than 45 countries and territories.

"Jaina Systems is noted for providing cost effective, high quality service to Asia," said Jeffrey Lauzon, President of iTeknik Holding Corporation. "We expect this agreement to improve the quality and significantly decrease our costs for international call termination to Asia. This is another step in our continued effort to improve profitability."

Recently, iTeknik Holding Corporation reported improved revenue, gross margin and net income in its financials for the nine months of FY 2010. These financials can be viewed at: [ http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=32453 ]

About iTeknik Holding Corporation

iTeknik Holding Corporation provides wholesale and retail telecommunications services, and products worldwide. Its services include voice over Internet protocol origination and termination; A-Z routing and switching; wholesale carrier routing services; reseller billing and reporting; Web-based reseller solutions; prepaid calling card solutions; international cellular calling; and retail point of sale solutions. The company serves B2B carriers, telecom resellers, retail outlets and consumers direct through websites such as [ www.greatminutes.com ] and [ www.indiaminutes.com ]. iTeknik Holding Corporation was founded in 2007 and is based in Commerce, Michigan. Through its subsidiaries, iTeknik has more than 13 years of history in the telecommunications industry. For more information please visit website [ www.iteknik.com ] and [ www.sendglobal.com ].

Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.