ITokk, Inc.
OTC Bulletin Board : IKTO

ITokk, Inc.

April 12, 2010 08:00 ET

iTokk Inc., Signs LOI with Mayfair Group AD (BSE:6MF) of Sofia Bulgaria for Strategic Distribution Partnership

SUNNYVALE, CALIFORNIA and SOFIA, BULGARIA--(Marketwire - April 12, 2010) - iTokk Inc. (OTCBB:IKTO) iTokk, Inc. today announced that it has signed a binding Letter of Intent (LOI) for a strategic distribution partnership with Mayfair Group AD of Sofia, Bulgaria a public company listed on the Bulgaria Stock Exchange (BSE) symbol 6MF. According to the agreement Mayfair Group AD will begin distribution of the iTokk products and services in Bulgaria launching a new business offering and a new presence for the Mayfair Group in the Balkans. Finalizing this Agreement will extend the already impressive market reach that iTokk's products will gain through Mayfair Club SA established in Athens Greece (Reseller Agreement announced April 6, 2010).

"We bring 20 years of distribution know-how into a market with enormous growth potential." said Mr. Christos, President of the new Mayfair Group in Bulgaria and President of Mayfair Club S.A. of Athens Greece. "iTokk's unique products and services will be an exciting business entrance into the Bulgarian market. The company's aim is to become the new leading IP communications provider in Balkan regions."

According to the 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. Roughly between three and four million, Bulgarians live abroad making low cost talk time a valuable commodity to its residents.

"The Mayfair Group in Sofia will be iTokk's gateway to the Balkan regions," said Mr. Kevin Penstock, CEO for iTokk "and we are excited to be one of the first real innovators of IP platform services to enter the region and look forward to supporting the Mayfair Group AD."

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 Group AD (BSE:6MF)

Mayfair Group AD. Company's scope of activity will include the offering of value services in telecom sector; the core competency being distribution, sales, marketing, integration and support of new products through call-centre services. As an international trade operator, Mayfair Group is responsible for dealing in and developing overseas business markets. Mayfair Group was established in 2008 and is a public company, currently listed on the BSE-Sofia AD, trading Symbol 6MF. Mayfair Group office is located at 32A Cherni vrah" Blvd, 1st floor, Sofia Bulagria.

ADDITIONAL INFORMATION about Mayfair-Group AD can be viewed on the Company's Web site: www.mayfairgroup.bg

About iTokk

iTokk, Inc., is the evolution of IP telecom, the next-generation of telephony solutions for consumers and businesses. iTokk's flagship product the Npoints-Platform makes it simpler, cheaper and faster for businesses to build unique communications functionality into applications. The platform enables ISP providers, carriers and networks to introduce new, revenue-generating voice services in days. 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. When you see the "powered by iTokk" symbol you know that the Npoints-Platform has inspired further innovation. It is adaptable, flexible and as clever as you are.

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.
    Kevin Penstock
    CEO
    408-419-1719
    ir@itokk.com
    or
    iTokk, Inc.
    Mr. John Karamitsos, VP Research and Development & Director
    For business development information in Europe
    011-30-693-664-0593
    jkaramitsos@itokk.com
    www.itokk.com