COHO - 355% improvement in semi-annual financials
Crednology Holding Corp. Files Financial Results for the six months ended June 30, 2017
Crednology's Unaudited Results Reflect much higher Revenues and EBITDA
NORTHRIDGE, CA--(Marketwired - Aug 17, 2017) - Crednology Holding 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 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.
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.
