Crednology Holding Corp Announces Share Repurchase Program
October 30 2013 - 8:30AM
Access Wire
GRAY, GA. October 30, 2013 Crednology Holding Corp (OTC PINK:
COHO) a leading provider of technology and software to the credit
industry and which provides developmental solutions worldwide for
real estate professionals, mortgage originators, property
management and financial advisers announced today that its Board of
Directors has approved a share repurchase plan. Under terms of the
plan, the Company is authorized to repurchase up to an aggregate of
$250,000 of its common stock over the next 18 months.
Acquisitions of stock under the repurchase plan will be made
from time to time at prices prevailing in the open market or in
privately negotiated transactions as permitted by securities laws
and other legal requirements, and subject to market conditions and
other factors. The repurchase program will be funded by the
Company's available cash and may be commenced or suspended at any
time or from time to time. The plan will continue as long as
periodic management reviews determine it to be fiscally feasible
and may be discontinued at any time.
"The Board's approval of this repurchase program is a reflection
of the confidence that the Board and management have in Crednology
Holding Corp's operating fundamentals and growth prospects and,
accordingly, our shared belief that our current valuation does not
reflect the Company's underlying long-term value," said Rusty
Bresse, Chief Executive Officer of Crednology Holding Corp.
"Accordingly, we believe that the acquisition of the Company's
stock is an attractive and appropriate investment in the current
market and an appropriate use of our current and future cash. This
repurchase program reflects the ongoing commitment of the Company's
Board to taking tangible steps intended to enhance shareholder
value."
About Crednology Holding Corp
Crednology Holding Corp, a Delaware corporation, a leading
provider of technology and software to the credit industry which
offers developmental solutions worldwide for real estate
professionals, mortgage originators, property management and
financial advisers. Its subsidiaries, ScoreNavigator and CreditDNA,
utilize the company's exclusive Point Deduction Technology.
This technology has the unique ability to analyze a credit report
and give full visibility to the points being deducted for each
account. For further information, visit
http://www.credholdingcorp.com/.
About ScoreNavigator
ScoreNavigator, a wholly owned subsidiary of Crednology Holding
Corp, is a credit analysis tool designed for consumers and loan
originators. It analyzes the electronic version of a credit report
and recommends the quickest way to achieve a credit score and to
achieve the score needed for loan approval. It is a scientific
analytical tool. Its recommendations are based on the understanding
of credit score calculations and how different factors affect
scores either positively or negatively. ScoreNavigator can only
suggest actions a consumer can take. ScoreNavigator itself cannot
directly cause credit scores to rise or fall. ScoreNavigator is a
tool used by consumers and loan originators to maximize a credit
score resulting in more approvals and closed loans. For further
information, visit http://www.scorenavigator.com/.
About CreditDNA
CreditDNA, Inc., a wholly owned subsidiary of Crednology Holding
Corp, is a Credit Management company with exclusive technology that
other companies do not have. We help you establish or re-establish
a good credit history, and provide ongoing training and support.
CreditDNA, Inc. provides you with up-to-date credit education
material and your own credit coach to assist in keeping you on the
right credit path. For further information, visit
http://www.creditdna.us/.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein, and while expected,
there is no guarantee that we will attain the aforementioned
anticipated developmental milestones. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include,
but are not limited to, risks and uncertainties associated with:
the impact of economic, competitive and other factors affecting the
Company and its operations, markets, product, the impact on the
national and local economies resulting from terrorist actions, and
U.S. actions subsequently.
Contact: Crednology Holding Corp:
ir@credholdingcorp.com
Corporate Website: http://www.credholdingcorp.com/