Crednology Holding Corp. Posts 3rd Quarter Financial Statements-20% increase in EBIDA. CEO replaces Company Loans with Personal Funds
Northridge, CA, Nov. 08, 2018 (GLOBE NEWSWIRE) -- Crednology Holding Corp. (OTC Pink: COHO; “Crednology”) announces that It has filed its financial statements for the Nine Months ended September 30, 2018. These results feature
1/. Improved EBITDA of $127,429 compared with $102,093 for the same period last year. This is a 20% increase year over year
2/. Improved Revenue for the third quarter as compared with the first two quarters of 2018 and also an increase over the nine month period ended September 30, 2017.
Orie Rechtman, CEO of Crednology commented: “We had a much stronger third quarter with improved revenues and EBITDA. I am very pleased with our progress in this third quarter and look forward to continuing our upward trend in both Revenue and EBITDA.”
Orie Continued: “I made the decision to loan enough funds to the Company to pay off the existing SBA loan. This new loan reduces the monthly payment by almost $2,000 per month thereby improving the Company’s cash flow. The lower interest charge on this new loan will help to improve EBITDA and as a result drive up Shareholder Value. We continue to look for growth opportunities and will keep Shareholders informed as to our progress. Stay tuned for more information.”
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 Rechtmanir@credholdingcorp.com