NORTHRIDGE, CA--(Marketwired - Apr 19, 2017) - Crednology Holding Corp. (OTC PINK: COHO) ("Crednology") is pleased to announce that it has filed its consolidated financial statements for the year ended 12.31.16. A breakdown of the results is as follows:
- Revenues for Fiscal 2016 have increased by $165,581 from Fiscal 2015 to $774,877
- Gross Profit for Fiscal 2016 has increased by $83,992 from Fiscal 2015 to $693,288
- EBITDA for Fiscal 2016 has increased by $175,637 from Fiscal 2015 to $252,060
These improving numbers include less than three months of the revenues from Crednology's three new wholly owned subsidiaries.
Orie Rechtman, CEO of Crednology Holding Corp., commented, "We believe this is just the beginning of the growth in Revenues and EBITDA as we expect strong results for Fiscal 2017. Our aim is to Improve Shareholder Value by continuing internal growth, particularly in our E Waste division, as well as the acquisition of strategic new companies within our industry sectors."
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.
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