ITokk, Inc.
OTC Bulletin Board : IKTO

ITokk, Inc.

November 27, 2009 13:38 ET

iTokk Inc., Signs LOI with Mayfair Club A.E. of Athens Greece for Strategic Distribution Partnership

SUNNYVALE, CALIFORNIA and ATHENS, GREECE--(Marketwire - Nov. 27, 2009) - iTokk, Inc. (OTCBB:IKTO), the world's most innovative communications company, via our offices in London, England, today announced that it has signed a binding Letter of Intent (LOI) for a strategic distribution partnership with Mayfair Club A.E. of Athens Greece to begin distribution of the iTokk products and services in Greece and the Balkans; and in addition will embark on business development in the Commonwealth of independent States (CIS) former countries of the Soviet Republic.

According to the Agreement, Mayfair Clubs will begin by bundling their existing portfolio of solutions along with the iTokk Click-to-Call and iTokk-Mobile services and will be marketed and distributed through Mayfair Clubs distribution network of more than 250,000 customers that have purchased more the one solution and over 1,200,000 customers that have purchased at least once a solution from Mayfair Club. Mayfair Club has been providing solutions for over 1800 businesses in Greece since 1985 integrating, distributing and bundling solutions supplied by companies including Vodafone Greece, Wind telecom & ISP, Vivodi Telecommunications, Cosmote, On Telecoms and Tellas.

"The synergy that we are about to create with iTokk will align seamlessly with our mission statement to our customers and with iTokk's innovation and dedication the sky is the limit," Said Mr. Christos, President of Mayfair Club S.A. "Mayfair Club commits in its mission to provide immediate and high quality services to customers and respond to their demand for new and exciting products."

According to telecommunications Research Company Buddcomm's annual publication 2008, profiles the emerging Balkan markets and the integration with the EU which is driving economic development and change, a trend that has manifested itself in the region's telecoms markets. The report presents an overview of the telecom markets in what are arguably some of Eastern Europe's most promising growth markets with example highlights such as fixed broadband take-up across the region gaining momentum with annual growth rates of 200% in Bosnia-Herzegovina, 51% in Croatia and 62% in Cyprus.

"Our London office is the gate way to Europe, and Mr Christou along with Mayfair Clubs with offices in Athens is the gateway for iTokk in the Balkans," said Mr. Carmelo D'Anzi VP of Business Development for iTokk. "We are excited to one of the first real innovators of IP platform services to enter the region and look forward to supporting Mayfair Club A.E."

The two organizations are negotiating the final terms and conditions of a reseller arrangement that would give Mayfair access to iTokk's IP services platform in exchange for yet to be disclosed terms of revenue share and local pricing models. This Letter of Intent (LOI) will be superseded and replaced, as soon as practicable, by a formal reseller agreement with standard terms that are consistent with the principal terms provided herein.

About Mayfair Club A.E.
Mayfair Club Α.Ε., is an international import and export company and provider of value services. The company participates financially as a shareholder and has invested in more than 12 related companies. As an international trade operator, we are responsible for dealing in and developing our overseas business markets. Mayfair club international import and export was established in 1984. Mayfair Club offices are located at Petrou Ralli 351 Nikaia-Athens in 4 floors building with total space of 1.200 sq/m and can serve 200 calls at the same time per branch. Additional branches are in Kalithea-Athens, Dafni-Athens, two offices in Thesalloniki, two in Patra, and one in Heraklio.

About iTokk
iTokk, Inc., the world's most innovative communications company, offers flexible, next-generation telephony solutions for consumers and businesses. iTokk's flagship product Npoints-Framework and developers platform make it simpler, cheaper and faster to build communications functionality into applications, enabling carriers and networks to introduce new revenue-generating voice services in days, rather than months. By combining the iTokk platform and innovative products with carriers across the globe, iTokk has the potential to deliver the industries most explosive growth of innovation and in IP telephony. The worlds newest leading global IP telephony company is headquartered in Sunnyvale, California with offices in Canada, UK and India.

ADDITIONAL INFORMATION about iTokk, Inc. can be viewed on the Company's Web site: www.itokk.com. Capitalization and filings can be viewed at: http://www.otcbb.com.

SAFE HARBOR
Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made by iTokk, Inc. are not a guarantee of future performance. This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of iTokk, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition. SOURCE iTokk, Inc.

Contact Information

  • iTokk, Inc. - Investor Relations
    Angelo Soukas
    President
    408-419-1719
    asoukas@itokk.com
    or
    iTokk, Inc. - For business development information in Europe
    Mr. Carmelo D'Anzi
    VP of Business Development
    44-790-088-7405
    cdanzi@itokk.com
    www.itokk.com