Crednology Holding Corp. Files Financial Results for the six months ended June 30, 2017
August 17 2017 - 6:30AM
Marketwired
Crednology Holding Corp. Files Financial Results for the six
months ended June 30, 2017
Crednology's Unaudited Results Reflect much higher Revenues and
EBITDA
NORTHRIDGE, CA--(Marketwired - Aug 17, 2017) - Crednology
Holding Corp. (OTC PINK: COHO) ("Crednology"), is pleased to
announce that the unaudited financial results for the six months
ended June 30, 2017 have been filed. The results show significant
improvements over last year.
- Revenues for the six months ended June 30, 2017 were $623,337
compared to $175,911 for the same period last year. This is a
355% improvement.
- EBITDA achieved for the six months ended June 30, 2017 was
$99,853 including one time organizational costs compared to a
negative EBITDA of $(34,536) for the same period last year. This is
a staggering increase in EBITDA of $134,389, a 395%
improvement.
Oriel Rechtman, CEO of Crednology Holding Corp. commented,
"We continue to execute business fundamentals, maintaining low
overheads and keeping ahead of the necessary technology to grow the
cloud computing base of our business. This business model is
helping us achieve good margins for our individual subsidiaries
which bodes well for overall results when we have greater revenues
and profits to support the costs necessary to manage the public
company. We will continue to try and improve Shareholder Value
and are focused on staying ahead of the dilution stemming from
the debt and penalties that existed in the company when Crednology
purchased our businesses. The future looks exciting as we exercise
our business plan."
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 contactOriel
RechtmanInfo@credholdingcorp.com