iTeknik Holding Corporation Reports 14% Increase i
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Posted On: 02/20/2018 10:45:36 AM
iTeknik Holding Corporation Reports 14% Increase in Revenues to $856103 for the Quarter Ending December, 31, 2017
West Palm Beach, FL, Feb. 20, 2018 (GLOBE NEWSWIRE) --
iTeknik Holding Corporation (OTC PINK:ITKH) announced results for its 3Q FY 2018 ending December 31, 2017. These results for the quarter 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 14% from $750,954 to $856,103
Net operating income improved 27.5% from $95,097 to $121,318
Gross Margin was 57%
The Company also reported a net loss quarter-over-quarter of $257,896 versus $235,333. The current quarter includes a extraordinary charge of $45,585 for employee stock plan costs. Without this charge the net loss would have been reduced to $212,311. The net loss from the current quarter includes $225,000 of interest payments due to TCA Global Fund. 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 and has completed its first full year of operations. The following chart details the growth Big Rhino has achieved in 2017:
Revenues increased 105% from January to December
Net operating income average 7% for the year and increased from -$16,762 in the first six months to $208,410 in the last six months
Month Revenues/Net Income/Month Revenues/Net Income
January $130,994 -$34,623 July $229,873 $ 1,830
February $176,563 $ 5,354 August $263,029 $47,432
March $191,756 $ 3,640 September $258,052 $37,831
April $196,343 -$ 3,162 October $297,056 $65,965
May $227,426 $10,614 November $289,967 $36,614
June $221,893 $ 1,415 December $269,081 $18,738
Fred Wicks, iTeknik's Chairman and CEO said, “The Big Rhino team has produced a tremendous first year. The rate of revenue growth has been extraordinary, and the profit increase, especially in the last six months, has been excellent.”
Wicks also said, “In addition to the financial success, Big Rhino has diversified its client base from almost exclusively automotive to several other industries including medical and real estate.”
At the end of calendar year 2017 the customer base included:
Automotive 73.6%
Medical services 12.2%
Real estate 2%
Other segments 12.2%
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.
About iTeknik Holding Corporation:
iTeknik Holding Corporation’s strategy (OTC Pink: ITKH) is to acquire fundamentally sound companies that are market accepted, scalable and demonstrate a quantifiable value proposition. Our focus is in companies that have strong market presence, brand awareness and talented and dedicated management teams. We primarily seek companies with the potential to achieve exceptional performance over time in the Marketing, Advertising and Digital Media space and related technologies. iTeknik may lend its operational support, management approach and financial resources to these companies to achieve improvements in revenue and earnings growth as well as positioning in the marketplace. iTeknik Holdings currently operates one wholly owned subsidiary, Big Rhino Corporation.
For more information check us out at: http://www.iteknik.com.
About Big Rhino Corporation:
Big Rhino Corporation is a wholly owned subsidiary of iTeknik Holding Corporation and is a full-service advertising and digital media agency. Big Rhino excels in providing on-strategy, fast, precise and creative marketing solutions that get our clients BIG results. We maintain a nimble in-house creative team with a unique talent for delivering the highest quality creative that we believe is faster than anyone else. When combined with our completely integrated digital, interactive and media teams, our clients have access to a strategic and responsive advertising machine. For more information check us out at www.bigrhino.agency
About Blender Company, LLC:
The Blender Company LLC. Blender, part of our holdings, is an Arizona based multi-cultural focused advertising and digital media firm with long standing clients in the state and local government agencies. Blender’s has extensive minority business enterprise (“MBE”) experience. Blender holds government contracts and has significant potential to expand business within state and local government agencies in Arizona.
West Palm Beach, FL, Feb. 20, 2018 (GLOBE NEWSWIRE) --
iTeknik Holding Corporation (OTC PINK:ITKH) announced results for its 3Q FY 2018 ending December 31, 2017. These results for the quarter 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 14% from $750,954 to $856,103
Net operating income improved 27.5% from $95,097 to $121,318
Gross Margin was 57%
The Company also reported a net loss quarter-over-quarter of $257,896 versus $235,333. The current quarter includes a extraordinary charge of $45,585 for employee stock plan costs. Without this charge the net loss would have been reduced to $212,311. The net loss from the current quarter includes $225,000 of interest payments due to TCA Global Fund. 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 and has completed its first full year of operations. The following chart details the growth Big Rhino has achieved in 2017:
Revenues increased 105% from January to December
Net operating income average 7% for the year and increased from -$16,762 in the first six months to $208,410 in the last six months
Month Revenues/Net Income/Month Revenues/Net Income
January $130,994 -$34,623 July $229,873 $ 1,830
February $176,563 $ 5,354 August $263,029 $47,432
March $191,756 $ 3,640 September $258,052 $37,831
April $196,343 -$ 3,162 October $297,056 $65,965
May $227,426 $10,614 November $289,967 $36,614
June $221,893 $ 1,415 December $269,081 $18,738
Fred Wicks, iTeknik's Chairman and CEO said, “The Big Rhino team has produced a tremendous first year. The rate of revenue growth has been extraordinary, and the profit increase, especially in the last six months, has been excellent.”
Wicks also said, “In addition to the financial success, Big Rhino has diversified its client base from almost exclusively automotive to several other industries including medical and real estate.”
At the end of calendar year 2017 the customer base included:
Automotive 73.6%
Medical services 12.2%
Real estate 2%
Other segments 12.2%
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.
About iTeknik Holding Corporation:
iTeknik Holding Corporation’s strategy (OTC Pink: ITKH) is to acquire fundamentally sound companies that are market accepted, scalable and demonstrate a quantifiable value proposition. Our focus is in companies that have strong market presence, brand awareness and talented and dedicated management teams. We primarily seek companies with the potential to achieve exceptional performance over time in the Marketing, Advertising and Digital Media space and related technologies. iTeknik may lend its operational support, management approach and financial resources to these companies to achieve improvements in revenue and earnings growth as well as positioning in the marketplace. iTeknik Holdings currently operates one wholly owned subsidiary, Big Rhino Corporation.
For more information check us out at: http://www.iteknik.com.
About Big Rhino Corporation:
Big Rhino Corporation is a wholly owned subsidiary of iTeknik Holding Corporation and is a full-service advertising and digital media agency. Big Rhino excels in providing on-strategy, fast, precise and creative marketing solutions that get our clients BIG results. We maintain a nimble in-house creative team with a unique talent for delivering the highest quality creative that we believe is faster than anyone else. When combined with our completely integrated digital, interactive and media teams, our clients have access to a strategic and responsive advertising machine. For more information check us out at www.bigrhino.agency
About Blender Company, LLC:
The Blender Company LLC. Blender, part of our holdings, is an Arizona based multi-cultural focused advertising and digital media firm with long standing clients in the state and local government agencies. Blender’s has extensive minority business enterprise (“MBE”) experience. Blender holds government contracts and has significant potential to expand business within state and local government agencies in Arizona.
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