Crednology’s Unaudited Results Continue the Upward Trend

Northridge, CA, Nov. 16, 2017 (GLOBE NEWSWIRE) --  Crednology Holding Corp. (OTC Pink: COHO; "Crednology"), is pleased to announce that the unaudited financial results for the nine months ended September 30, 2017 have been filed.  The results show significant improvements over last year.

  • Revenues for the nine months ended September 30, 2017 were $863,721 compared to $457,700 for the same period last year.
     
  • EBITDA achieved for the nine months ended September 30, 2017 was $120,660 including one time organizational costs compared to a negative EBITDA of $(77,122) for the same period last year. This is an improvement in EBITDA of $197,782.
     
  • These excellent results have been achieved during the summer months which are traditionally the slow period for our electronic waste division.

Orie Rechtman, CEO of Crednology Holding Corp. commented, “We continue to focus on achieving good results, using  business fundamentals, maintaining low overheads and our technological edge in our cloud computing business by adding new upgraded and faster equipment as needed.  We are still dealing with some of the overhang from the convertible debt and penalties that we took over when we came to the Company but we will continue to improve the Company’s performance through internal growth and targeted acquisitions. Our major objective is to improve Shareholder Value and we will continue to strive for that improvement. We strongly believe the future of our Company is positive.  Please stay tuned for more information over the coming weeks.”

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