Northridge, CA, May 01, 2018 (GLOBE NEWSWIRE) -- Crednology Holding Corp. (OTC Pink: COHO; "Crednology").
Letter to our Shareholders
This goal of this letter is to provide clarity and additional information on previous listings that our organization had in Europe and to share with our shareholders the current market conditions and company’s continued emphasis on growth plans.
In 2011 Landmark PMG LLC., a company that I owned personally, purchased with personal funds that I provided to the business, the assets of 4Service Inc a disaster recovery and cloud computing company for $1.2 Mil. The strategic plan was to take this company public in order to raise funds for growth through acquisitions. Since the US market was still in turmoil we looked at the European markets for a public listing and decided on the GXG Exchange, a Danish stock exchange with a branch in London.
In order to meet the requirements of the listing, we formed OR Holding, Inc. a Canadian domiciled company. that became the parent company of 4Service Inc. OR Holding Inc. was listed on the GXG London exchange in 2013. Shortly after the listing the GXG Exchange became insolvent and the Danish parent organization shut down the exchange and ceased operations. We did not trade any shares and I was the only shareholder of record.
We continued to look at other opportunities in Europe and decided to list with the Euronext Marche Libre Exchange in Paris with the intent to use it as a platform to uplist to the Frankfurt exchange. In order to complete the listing, we formed a European company – 4Service Cloud Tech Ag domiciled in Switzerland that acquired the two operating subsidiaries, 4Service Inc. and ITatONCE which we purchased in 2014.
The company was listed on the Paris Euronext late 2015. We had very limited exposure primarily due to the German exchanges raising their requirements for listing which eliminated the uplist potential for most of the companies listed on the Marche Libre Exchange.
In the meantime, the market conditions and trading of smaller companies in the US improved and we elected to complete a reverse merger with Crednology Holding Corp which was accomplished in October 2016.
Currently, COHO is the holding company with three operating Subsidiaries, Landmark PMG dba 4 Service, Riteman Inc. dba ITatONCE and CA Recycles Inc. There are no other operating entities at this time and our total focus is to grow COHO and improve shareholder value. We recently published 2017 results which showed a steady increase in revenue and net income from 2016 and we continue to focus on growth in 2018.
Late in 2017, we entered into a Letter of Intent to acquire the assets of an IT company. However, during the due diligence process, this Company lost its major clients and revenues dropped from $700k a year to less than $100K with one client representing more than 60% of their revenue. We are on very good terms with the seller and we are still considering the acquisition if they can demonstrate stability and growth.
We are constantly asked by shareholders to put out press releases about the company’s accomplishments. I attempt to reply to most of these requests and my response is clear – We do not “manufacture” news, inflate news, and only provide news when there are news-worthy events.
Our direction and growth plans have not changed and we continue to execute our business fundamentals every day while we look for new opportunities for growth.
I want to thank you for being shareholders of our Company and for your support while we continue to exercise our business fundamentals.
Thank you
Orie Rechtman
Crednology Holding Corp.
CEO
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 also 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