COHO NEWS!!!!!
Crednology Holding Corp Seeks to Expand Its Portfolio of Operating Subsidiaries
Jul 02, 2013 (ACCESSWIRE via COMTEX) -- GRAY, GA. July 2, 2013 Crednology Holding Corp (OTC PINK: COHO) the nation's leading Online Credit Management company with 24/7 access and exclusive Point Deduction Technology software is pleased to inform shareholders that the Company is in negotiations to expand its portfolio of operating subsidiaries.
Crednology Holding Corp, the parent company to Credit DNA, Inc. and ScoreNavigator, Inc., has entered into negotiations to acquire a New York based educational software firm. The targeted acquiree is a producer and distributor of computer software and video educational materials on CD and DVD formatted disks which are available through various distributors and its websites. The firm provides standards-based instruction through its fully animated talking virtual textbooks. Its fully animated, interactive featured, colorful, and audio virtual textbooks have combined rigorous content along with a variety of practice problems, activities, assessments, games, and productivity tools with the intent of improving the performance of students via proprietary web-based platforms that engage students, reinforce and reward learning achievement.
In furthering its expertise in the credit industry, the Company has formed a new wholly owned operating subsidiary, CreditDNA, Inc. CreditDNA is a credit management company that utilizes the Company's exclusive Point Deduction Technology. Its proprietary technology has the unique ability to analyze a credit report and give full visibility to the points being deducted for each account, which then allows our trained staff the ability to create an actionable plan that will help our members reclaim those precious points and raise their credit score.
The Company has elected to sell Crednology, Inc. to better concentrate on its proprietary software based credit platform. Terms of the sale were not disclosed and closing is anticipated to occur during the calendar third quarter. The formation of CreditDNA will allow the Company to provide the same services to its credit clients with much improved margins versus Crednology, Inc.
"We are extremely pleased to inform shareholders about our proposed acquisition and the formation of our new credit subsidiary," said Brian P. Schwelling, Senior Vice-President of Crednology Holding Corp. "It is our goal to build the HOLDING Company through organic growth as well as acquisitions which are immediately accretive."
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