ITOKK INC, is a publicly traded company listed on the OTC Markets (PINKS: IKTO). CURRENTLY, THE COMPANY HAS SUSPENDED ITS BUSINESS OPERATIONS AND FINANCING UNDERTAKINGS and is assessing the costs and feasibility of re-establishing the Company in good standing with relevant regulatory bodies and legal requirements.
History and Current Business
The Company ITOKK, INC. was originally incorporated on September 19, 2003 and in October 28, 2009 changed its name to ITOKK, INC. upon completing an acquisition of a license to use, sell, market and distribute various products and services owned by Packetera Communications Inc., a private British Columbia company.
As published in its Shareholders update October 28, 2009, the Issuer intended to raise approximately $3,100,000 in funding for the purpose of commencing full scale marketing operations. The company was unable to raise adequate funds and the directors elected on April 27, 2010 to delist the company from the OTCBB to PINK sheets market subsequently filing a Form 15, a certification and notice of termination or registration under section 12(g) of the SEC act, therefore relieving its requirement as a reporting issuer.
During the period of Oct 2009 to June 2011, considering limited success in raising the intended funding, the Company undertook best efforts to develop, market and distribute the technology products and services of Packetera Communications Inc. In June 2011, the Company suspended the development and operations as a result of the lack of sales revenues and the lack of funding. Furthermore, due to a cease trade order relating to the Company’s failure to file financial statements on time with the British Columbia Securities Commission, fund raising efforts were restricted and have remained restricted until the Company is in good standing.
Although the Company was not able to continue its full scale development and marketing efforts, the Company has maintained its proprietary technology of the ITOKK branded products. In order for the Company to commence operations and fund raising, such an effort would depend entirely upon the Company’s ability to gain good standing with regulatory bodies and entirely upon its ability to raise adequate funds through the sale of equity. Finally, following these achievements, the Company will then require an in-depth assessment of its competitive intellectual property, its ability to commence marketing, and may commence an alternative assessment of investing in various common technologies and other companies.
Legal Notice Regarding Forward-Looking Statements
Certain statements included in this website may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This website, and any other material concerning the company, must be considered in context of the following, which should be read carefully before any investment or business decision is made with respect to ITOKK, INC.
Statements in this website and other material originating with the Company that are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements, whether explicit or implicit, include the ability of ITOKK, INC. or its business partners to find sufficient working capital to meet its financial obligations and to maintain any operations, to fund the re-establishment of the Company's good standing in all regulatory matters, and to fund the development of any new business opportunities in which the company becomes engaged.
ITOKK INC’s actual results and outcomes may differ materially from those contained in the forward-looking statements contained in the published press releases. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties such as: receipt of all necessary regulatory approvals; the continued financing of our operations; and the overall success of products and services of ITOKK, INC. in general. Although we believe that the beliefs, plans, expectations and intentions contained in this web publication are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
Due to financial constraints, ITOKK, INC. is currently delinquent in its various securities regulatory filings and financial reporting. Readers should refer to the risk disclosures outlined in ITOKK INC.'s last published annual report for the fiscal year ended June 30, 2011 filed with the OTC Markets.
Further information on progress the Company makes, if any, will be made public through press releases.
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