About the Company:
Under the corporate motto, "Everything Energy," PRHL is an energy holding company focused on acquiring and integrating energy companies as synergistic subsidiaries. The Company accumulates residential and commercial clients in deregulated markets from all subsidiaries and cross sells energy and energy efficiency products and services, maximizing profit potential and minimizing cost of client procurement. In addition, PRHLprovides top line management and financial support, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems.
Simply put, PRHL’s companies lower their clients’ price and usage of energy. Through deregulated energy expertise, PRHL’s subsidiary, The Power Company has assisted tens of thousands of clients. Through its energy efficiency company, E3 – Energy Efficiency Experts, it allows for continuous support via energy management and information systems targeted to commercial middle-market companies, Fortune 500 companies, and developers and management companies of small to large-scale residential developments. PRHL’s goal is to provide “everything energy” for these consumers of power. PRHL will continue to enhance its position in the energy sector via organic growth, along with timely and strategic acquisitions and alliances.
Knowing that energy demand will continue and consumers are interested in saving money –PRHL is a company that matters.
Outlook For 2016
CEO and President Randall Letcavage reports that in anticipation of an aggressive 2016 strategic agenda, the Board of Directors has approved certain measures to allow for more nimble corporate operations. The first action, which is detailed in two recent 8K filings, authorizes the issuance of Series B Voting Convertible Stock. 250,000 shares of this stock was purchased by President/CEO Letcavage for $70,000 and grants temporary rights for the next three years, specifically voting rights at 1,000 votes per share. This allows the company to have a quorum at the upcoming shareholders meeting, which would be virtually impossible to ensure without such action.
This also allows the company to move more quickly toward its strategic plan toward a NASDAQ listing. There is no economic advantage associated with this purchase. The Series B stock was purchased at $0.28 per share and after three years will convert to common stock at four times, making the price per share $0.07, which is at or greater than the price of the stock on the day of the transaction. The funds for this transaction come from monies Mr. Letcavage loaned to the Company.
As of this moment traders have the opportunity to grab up shares at a cheaper price than the CEO paid for them back in December!
Mr. Letcavage states that this is a necessary step, which is one of many, including strengthening the Board of Directors, signing several broker/dealer agreements, hiring new accounting professionals and holding our annual shareholders meeting. All of this is in preparation for the up-listing to a senior exchange. In addition, the company intends to open offices in New York City and work with its investment bankers and consultants to make one or more acquisitions in the area to be able to service several groups that have relationships with hundreds if not thousands of properties in New York that are prime candidates for Energy Efficiency Experts (E3) as well as The Power Company (TPC). In addition, this action will ensure the company remains on schedule for establishing the electricity supplier company in Q1 of 2016. The Supplier is a major piece of the overall strategy of the company.
Recent News
On Friday, PRHL announced the opening of a business development office in the iconic Helmsley Building at 230 Park Avenue, Suite 903, New York, New York, 10169 to support the growing businesses of its two subsidiaries, The Power Company (TPC) and Energy Efficiency Experts (E3). The Business Development Office has already Utilized Strategic Relationships to Generate Substantial Business.
The team in the New York office supports TPC in offering deregulated power to clients in New York and the other deregulated states, and also supports E3 in identifying clients for all facets of energy efficiency and related technologies including generation, and energy management systems, for both commercial/industrial and residential clients.
This office will focus on strategic relationships with REITs, Major Real Estate holders, Building Management companies, as well as large developers and commercial customers in the tristate area and has already generated a deal reported yesterday with a large franchisee of Planet Fitness.
The well-known Helmsley Building is a 35-story building located at 230 Park Avenue between East 45th and East 46th Streets in Midtown Manhattan, New York City, which was built in 1929 as the New York Central Building, and was designed by Warren & Wetmore, the architects of Grand Central Terminal, in the Beaux-Arts style. Before the erection of the Pan Am Building -- now the MetLife Building -- this building stood out over the city's second most prestigious avenue as the tallest structure in the great "Terminal City" complex around Grand Central.
President and CEO of Premier Holding, Randall Letcavage commented," We are excited to have this office up and running and already producing significant results. This was just one of our 2016 objectives and we are extremely pleased that it has been accomplished so early in the year, and that it is already producing results. The strategic relationships that this office brings will no doubt take us a long way toward reaching our aggressive 2016 goals."
Last Monday, PRHL announced the completion of a large commercial deregulated power agreement by its subsidiary, The Power Company (TPC) for the Planet Fitness facilities owned and run by franchisee, PFNY, LLC ("PFNY").
The deal was completed expeditiously with both parties working closely as it involved 43 different facilities, with 65 separate metered bills through various power suppliers. This three-year fixed price agreement reduced their cost of power by more than 10% off of today's rates.
Using today's rates, PFNY will save between $400,000 and a half million dollars over the next three years by engaging the Power Company. There is no change to the service whatsoever.
PFNY CEO, Jeff Innocenti said: "We made the decision to move our energy needs to the Power Company based upon their professionalism, and the results achieved by their team who moved quickly and efficiently. Patrick Farah and his staff of professionals researched our many facilities and provided options from a large number of alternate suppliers. They ran a complicated process so smoothly for us that the decision-making and execution process became the simple part of the deal.
TPC is known for its outstanding service. Based in Chicago, with operations now in New York, TPC transitions thousands of residential clients to lower cost power each and every month. With its 30+ suppliers and one-of-a-kind software tools, TPC lowers its residential and commercial clients electric and gas bills with a speed and efficiency second to none.
TPC Managing Member Patrick Farah, said: "We were honored that PFNY chose TPC to help them save money on their power. Our team was able to research all their facilities and propose rates from a large number of suppliers. Not only were we able to provide a much lower rate, but we were able to fix the rate for three years. That's a great deal by any definition"
