Agreement to Generate an Additional $1,750,000 Revenue During Calendar 2014
GRAY, GA. October 31, 2013 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 is extremely pleased to announce that the Company has entered into a Licensing Agreement with Leading Edge Financial, Inc., a rapidly expanding credit management company in West Palm Beach, Florida.
Under the terms of the Agreement, Leading Edge Financial will direct consumer clients to the Company's CreditDNA subsidiary for credit management. The Agreement has a term of 15 years with a launch date of November 1, 2013.
The Company anticipates generating revenue immediately upon launch of the venture. Revenue projections for the first quarter from this Agreement are expected to be $130,000 increasing to $876,000 for the fourth quarter ending December 31, 2014. The Company anticipates realizing gross revenues from this Agreement during calendar year 2014 in excess $1,750,000. The Company intends to reinvest the funds for further expansion as well as open market repurchases of its common stock for its recently announced Share Repurchase Plan.
"We are excited to enter into this dynamic new venture with Leading Edge Financial, Inc.", said Rusty Bresse, Chief Executive Officer of Crednology Holding Corp. "This Agreement will grant the Company the opportunity to generate significant cash flow while expending little cash in the initial phase of the venture."
In a follow up to its recently announced Agreement with TheIWLA, The International Woman’s League Association, the Company would like to announce that TheIWLA has officially launched ScoreNavigator Inc. to their members. CFO Patricia Giankas and TheIWLA Executive Director Beth Johnston have supplied members with a recorded interview explaining the advantages ScoreNavigator provides not only to the 30,000 plus members, but to their potential clients as well. “It’s a pleasure being a member myself to this great organization and having this opportunity to work closely with Beth and the other members on present and future ventures” added Patricia Giankas, Chief Financial Officer of Crednology Holding Corp.
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/
