Crednology is in process of Cancelling the Reverse Split
Northridge, CA, April 10, 2019 (GLOBE NEWSWIRE) -- Crednology Holding Corp. (OTC Pink: COHO; "Crednology") announces that it has filed its Financial Statements for the year ended 12.31.2018. The results reflect a very positive improvement in EBITDA and increased Revenues.
- Revenues in Fiscal 2018 Increased by $82,949, (7%) to $1,229,466 from $1,146,517 in Fiscal 2017.
- Huge Increase in EBITDA from $117,707 to $230,791 a massive $113,084 improvement almost doubling EBITDA.
The improvement in EBITDA is a direct result of improved efficiencies and as a result the reduction of overheads.
In addition, the Company is CANCELLING the reverse split.
Oriel Rechtman, CEO of Crednology commented: “We are delighted with our results for fiscal 2018. We anticipate further growth in revenues and EBITDA during 2019. We continue to look for and negotiate with a number of excellent acquisition opportunities to grow our business. Our primary objective is and will continue to be improved shareholder value.”
Oriel continued: “The fact we have been able to cancel the previously planned reverse split which we had never wanted and continue with the Reg A financing submission is another significant step in the upward trend of the Company. 2019 looks to be our best year yet.”
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.
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
ir@credholdingcorp.com