Crednology Holding Corp. Files Financial Statements for the Year Ended 12.31.2016
April 19 2017 - 7:55AM
Marketwired
Benefits of The New Acquisitions Beginning to Show
NORTHRIDGE, CA-(Marketwired - Apr 19, 2017) - Crednology Holding
Corp. (OTC PINK: COHO) ("Crednology") is pleased to announce that
it has filed its consolidated financial statements for the year
ended 12.31.16.
A breakdown of the results is as follows:
Revenues for Fiscal 2016 have increased by $165,581 from Fiscal
2015 to $774,877Gross Profit for Fiscal 2016 has increased by
$83,992 from Fiscal 2015 to $693,288EBITDA for Fiscal 2016 has
increased by $175,637 from Fiscal 2015 to $252,060
These improving numbers include less than three months of the
revenues from Crednology's three new wholly owned subsidiaries.Orie
Rechtman, CEO of Crednology Holding Corp., commented, "We believe
this is just the beginning of the growth in Revenues and EBITDA as
we expect strong results for Fiscal 2017. Our aim is to Improve
Shareholder Value by continuing internal growth, particularly in
our E Waste division, as well as the acquisition of strategic new
companies within our industry sectors."
About Crednology Holding Corp.Crednology Holding Corp., a
Delaware corporation, is a public holding company that has been
dedicated to enhancing shareholder value through a strategic
combination of organic growth, mergers and profitable
acquisitions.
The Company is engaged in the cloud computing segment of the
technology sector as well as the Electronic Waste and Recycling
business. The main products and services include cloud computing
and virtual environment, disaster recovery and business continuity
and managed services to corporate accounts as well as the recycling
and disposal of E-Waste and other materials.The market for cloud
computing is growing at a staggering pace. In 2015 the industry
experienced a rapid growth of 33% with the segment of business
reaching over $16 billion by the year end. This market trend is
expected to continue with growth of approximately 30% expected
annually for the next few years. E-Waste is growing at a
significant pace with double digit increases anticipated annually
over the next few years.
Safe Harbor and Informational Statement This press release may
contain forward-looking information within the meaning of Section
21E of the Security Exchange Act of 1934, as amended (the Exchange
Act), including all statements that are not statement of historical
fact regarding the intent, belief or current expectations of the
company, its directors or its officers with respect to, among other
things: (i) the company's financing plans; (ii) trends affecting
the company's financial conditions or results of operations; (iii):
the company's growth strategy and operating strategy; and (iv) the
declaration and payment of dividends.The words "may", "would",
"will", "expect", "estimate", "anticipate", "believe", "intend",
and similar expressions and variations thereof are intended to
identify forward-looking statements. Investors are cautioned that
any such forward-looking statement are not a guarantee of future of
future performance and involve risks and uncertainties, many of
which are beyond the company's ability to control, and that actual
results may differ materially from those projected in the
forward-looking statements as a result of various factors including
the risk disclosed in the company's statements and reports filed
with the OTC Markets. The Company claims the safe harbor provided
by Section 21E(c) of the Exchange Act for all forward-looking
statements.
For more information contact
Oriel Rechtman
Info @credholdingcorp.com