Crednology Holdings Corp. (OTC Pink: COHO) is engaged as a cloud computing, electronic waste and recycling company. Shares of the technology company are surging 80%, through early trading on Thursday, August 17, 2017. Over the past month, Crednology Holdings Corp. has seen average daily volume of 17.68 million shares. However, volume of 190.73 million shares or dollar volume of $171,657, has already exchanged hands on Thursday.
Shares of Crednology Holdings Corp. are rallying today, after the company reported earnings for the first six months of 2017. Through the first half of 2017, the company reported total revenue of $623,337 and EBITDA of $99,853. Here is the full press release detailing of the six month earnings period:
Crednology Holdings Corp. Press Release:
NORTHRIDGE, CA — (Marketwired) — 08/17/17 — Crednology Holdings Corp. (OTC PINK: COHO) (“Crednology”), is pleased to announce that the unaudited financial results for the six months ended June 30, 2017 have been filed. The results show significant improvements over last year.
- Revenues for the six months ended June 30, 2017 were $623,337 compared to $175,911 for the same period last year. This is a 355% improvement.
- EBITDA achieved for the six months ended June 30, 2017 was $99,853 including one time organizational costs compared to a negative EBITDA of $(34,536) for the same period last year. This is a staggering increase in EBITDA of $134,389, a 395% improvement.
Oriel Rechtman, CEO of Crednology Holding Corp. commented, “We continue to execute business fundamentals, maintaining low overheads and keeping ahead of the necessary technology to grow the cloud computing base of our business. This business model is helping us achieve good margins for our individual subsidiaries which bodes well for overall results when we have greater revenues and profits to support the costs necessary to manage the public company. We will continue to try and improve Shareholder Value and are focused on staying ahead of the dilution stemming from the debt and penalties that existed in the company when Crednology purchased our businesses. The future looks exciting as we exercise our business plan.”
About Crednology Holdings Corp.
Crednology Holdings 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.
The market for cloud computing is growing at a staggering pace. In 2015 the industry experienced a rapid growth of 33% with the segment of business reaching over $16 billion by the year end. This market trend is expected to continue with growth of approximately 30% expected annually for the next few years. E-Waste is 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.