GRAY, GA / October 30, 2013 / ACCESSWIRE / Crednology Holding Corp (OTC PINK: COHO) a leading provider of technology and software to the credit industry and which provides developmental solutions worldwide for real estate professionals, mortgage originators, property management and financial advisers announced today that its Board of Directors has approved a share repurchase plan. Under terms of the plan, the Company is authorized to repurchase up to an aggregate of $250,000 of its common stock over the next 18 months.
Acquisitions of stock under the repurchase plan will be made from time to time at prices prevailing in the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. The repurchase program will be funded by the Company's available cash and may be commenced or suspended at any time or from time to time. The plan will continue as long as periodic management reviews determine it to be fiscally feasible and may be discontinued at any time.
"The Board's approval of this repurchase program is a reflection of the confidence that the Board and management have in Crednology Holding Corp's operating fundamentals and growth prospects and, accordingly, our shared belief that our current valuation does not reflect the Company's underlying long-term value," said Rusty Bresse, Chief Executive Officer of Crednology Holding Corp. "Accordingly, we believe that the acquisition of the Company's stock is an attractive and appropriate investment in the current market and an appropriate use of our current and future cash. This repurchase program reflects the ongoing commitment of the Company's Board to taking tangible steps intended to enhance shareholder value."
About Crednology Holding Corp
Crednology Holding Corp, a Delaware corporation, a leading provider of technology and software to the credit industry which offers developmental solutions worldwide for real estate professionals, mortgage originators, property management and financial advisers. Its subsidiaries, ScoreNavigator and CreditDNA, utilize the company's exclusive Point Deduction Technology. This technology has the unique ability to analyze a credit report and give full visibility to the points being deducted for each account. For further information, visit http://www.credholdingcorp.com/ .
About ScoreNavigator
ScoreNavigator, a wholly owned subsidiary of Crednology Holding Corp, is a credit analysis tool designed for consumers and loan originators. It analyzes the electronic version of a credit report and recommends the quickest way to achieve a credit score and to achieve the score needed for loan approval. It is a scientific analytical tool. Its recommendations are based on the understanding of credit score calculations and how different factors affect scores either positively or negatively. ScoreNavigator can only suggest actions a consumer can take. ScoreNavigator itself cannot directly cause credit scores to rise or fall. ScoreNavigator is a tool used by consumers and loan originators to maximize a credit score resulting in more approvals and closed loans. For further information, visit http://www.scorenavigator.com/ .
About CreditDNA
CreditDNA, Inc., a wholly owned subsidiary of Crednology Holding Corp, is a Credit Management company with exclusive technology that other companies do not have. We help you establish or re-establish a good credit history, and provide ongoing training and support. CreditDNA, Inc. provides you with up-to-date credit education material and your own credit coach to assist in keeping you on the right credit path. For further information, visit http://www.creditdna.us/ .
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently.
Contact: Crednology Holding Corp:
ir@credholdingcorp.com
Corporate Website: http://www.credholdingcorp.com/
Source: Crednology Holding Corp:
