Northridge, CA, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Crednology Holding Corp. (OTC Pink: COHO; "Crednology") announces that it is increasing its authorized share capital to six billion shares. The primary reasons for the increase is to be ready to both raise funds, not through convertible notes, and have shares available that can be issued for acquisition opportunities.
COHO is in the midst of a very strong third quarter with July being especially strong in the cloud services side of our business. We expect our cloud services division to continue to be strong for the remainder of 2018. Because we have been so busy, we have not yet had the opportunity to offer all our additional services to our new customers acquired in the Evolve customer acquisition. We plan to change that over the next two to three months and expect results to reflect the opportunities that exist with these customers.
COHO’s plans for the remainder of this year include engaging a PR firm to help us build our current customer list and to ensure that information is disseminated in a timely manner to our shareholders.
Orie Rechtman, CEO of Crednology commented: “ We are currently looking hard for an acquisition opportunity and having lost a couple of potential targets because we were unable to move quickly enough we are preparing so that we are ready for the right opportunity whether it is a transaction for cash, stock or a combination of both. Once we have signed an LOI we will of course update our shareholders. Please stay tuned for the latest information. As always, we strive to improve shareholder value by using solid and well planned business strategies and decisions.”
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.
Essentially cloud computing is a way to save and/or access data from remote servers. The company’s Private Cloud solution provides fully working environment through our data centers located around the USA as well as real time redundancy and replication of the client’s data which will eliminate loss of data and minimize down time close to zero. Cloud computing is growing at a staggering pace. The industry is experiencing rapid growth with the cloud segment of business achieving a growth of over 20% per annum. E-Waste is going through changes as a result of the tariff struggles between China and the US. We are planning to grow our recycling business by future investments in paper and cardboard recycling
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