Northridge, CA, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Crednology Holding Corp. (OTC Pink: COHO; "Crednology"). 2017 has been an excellent year for your Company. Revenues and EBITDA continue to grow and better results are expected in 2018 with some significant contracts in negotiation at this time.
The greatest growth has come from our E waste division. Since acquiring California Recycles we have increased business by over 50% and expect to continue that growth during 2018. We are currently negotiating two acquisitions which will enhance our current business. We expect to be able to provide more information over the next thirty days.
Our cloud computing business has been steady but our proposed acquisition is now uncertain due to information that was discovered during the final due diligence process. If this transaction does not close we will be looking at other similar acquisitions to help grow that side of our business.
Orie Rechtman, CEO of Crednology Holding Corp. commented, “2017 has been an excellent year. We are delighted with the progress of the Company. 2018 is looking to be potentially better than 2017 with potential higher revenue and EBITDA. Our constant wish is to achieve results that will enhance shareholder value. I would like to personally thank all our shareholders who have supported our Company in 2017 and hope that you will continue that support in 2018.”
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.
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