Crednology Holding Corp. Files 1st Quarter Financial Statements
Revenues increase by 16% over 1st Quarter, 2018
Northridge, CA, May 16, 2019 (GLOBE NEWSWIRE) -- Crednology Holding Corp. (OTC Pink: “COHO”; "Crednology" or the “Company”) is pleased to announce that it has filed it’s financial statements for the three months ended March 31, 2019. The results reflect increased revenues and net profit after charging costs related to the Reg A Filing are slightly down from the 1st quarter, 2018.
The increased costs are primarily the legal and professional fees relating to the Reg A application for financing submitted to the SEC for approval and such related expenses to the public entity.
Orie Rechtman, CEO commented: “I am pleased with the results even though EBITDA is slightly down as compared to the first quarter last year. We know that we have already made this up during April and May, 2019. Our Company continues to increase revenue, developing new customers as well as increasing business from our current customers. Both our cloud-based subsidiaries as well as our E waste business looks very promising for 2019.”
Orie continued: “As always, we strive to improve shareholder value. Watch out for developing news as we continue to look for more acquisition possibilities and ways to enhance shareholder value.”
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.
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