$COHO/ THIS GOOD AH READ/ Crednology Holding Corp. Announces Business Update More Excellent Business News
BY GlobeNewswire
— 6:33 AM ET 07/26/2018
Northridge, CA, July 26, 2018 (GLOBE NEWSWIRE) --
Crednology Holding Corp. ( COHO) . Crednology ( COHO ) is excited
to announce new business as well as new clients to it’s already impressive client list.
Our E Waste division expanded its customer base with some notable
new clients we started servicing this quarter including SAG AFTRA
(The Screen Actors Guild),
the Health SAG Producers,
Las Virgins Water District and a large
law firm based in San Francisco.
The Cloud and Managed Services division has just concluded the installation of a new hardware configuration
and high-end programming package for one of our clients,
increasing July revenues for that division by over 70%.
Currently our E waste division sub contracts the collection and
disposal of paper and cardboard recycling
and as a result generates low profit margins.
We are currently looking at expansion into managing this segment
of the recycling business with our own trucks and equipment.
Although the cost of entry is high the resulting additional profit
more than covers that cost over time.
As we have discussed recently,
we continue to look for new acquisition targets.
We are currently conducting a full operational and financial review
of potential targets to ensure that they are a good fit for our business.
Orie Rechtman, CEO of Crednology Holding Corp. ( COHO) commented:
“I am pleased with the new business for our E Waste and Cloud
and Managed Services divisions.
We continue to look for opportunities for increased business
from
our current list of clients as well as new clients.
Furthermore, we are continually looking for new acquisitions that
meet our growth needs.
On a different issue we wanted our shareholders to know that we
do still have some debt that can be converted to company stock
but not sold until next year.
The notes in the Balance Sheet describe these notes.
Management is considering buying back as much of this debt as
possible before it creates any significant dilution to the stock.
As always our primary objectives are solid growth of both our
divisions while continuing to improve shareholder value.”
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