Welcome!

Wireless Authors: Carmen Gonzalez, Trevor Parsons, Scott Hirsch, Esmeralda Swartz, Elizabeth White

News Feed Item

Premier Holding Corp. Shareholder Letter

Randall Letcavage, CEO of Premier Holding Corp.: Premier to Add Over $13 Million in Assets With Current Transactions

TUSTIN, CA -- (Marketwire) -- 12/27/12 -- In an open shareholder letter dated today, newly appointed Premier Holding Corp. (OTCBB: PRHL) (the "Company") chief executive officer Randall Letcavage explained a series of transactions, press releases and 8Ks dating back to Oct. 15, 2012, culminating in the expectation that Premier Holding could add more than $13,000,000 in assets to the public company, along with revenues, receivables and a dynamic business model as a result of completing several transactions.

Since joining the board of directors of Premier Holding Corp. and recently appointed as the new CEO and president of the Company, Letcavage has focused resources, energy and efforts on reorganizing the Company.

Several 8K and/or releases have been made since Oct. 15, 2012, including:

(1.) Departures of principal officers, elections of directors, and appointments of principal officers.

(2.) "Premier Holding Licenses to Muni-Fed Energy"

(3.) Nov. 29, 2012 - "Premier Holding Corporation" signed a letter of intent with The Power Company USA, LLC.

(4.) Buyins.Net issuing Premier Holding squeeze trigger report.

TO ALL CURRENT AND FUTURE SHAREHOLDERS:

At this time, I feel that each of our shareholders should be provided with more details relating to recent announcements and managements plans for moving the company forward. To do this, I would like to start with a brief personal history that includes over 30 years as a financial professional, including founding and acting as the managing director of iCapital Advisory Group LLC., a company (and its personnel) that has been involved in over $1 billion in financing activities. iCapital and I have also been providing advisory services to clients that range from public and private companies to municipalities. (A more detailed biography and more information can be found at www.iCapadvisory.com and www.PRHLCorp.com)

Along with this experience, I have held the CEO position at numerous companies, primarily while reorganizing these companies. Reorganization has been part of my business practice over the course of my career but has become a focus over the last five years. In fact, I served as the CEO and president of Green Central Holding (a reorganization whose assets were sold to Premier Holding and became critical to then-operating subsidiary WEPOWER Ecolutions, Inc.). This transaction also positioned both Green Central, Inc., and iCapital Advisory Group LLC as major shareholders in Premier Holding, Inc.

It was my feeling, as well as that of many other shareholders, that Premier and its subsidiary had significant opportunities and assets to perform on its business plan and generate significant revenues. For numerous reasons, this was not happening. I believe the previous management seemed to focus on large opportunities with longer sales cycles that have not yet turned into revenue. This strategy did not fare well for our stock price.

While acting as an advisor to Premier, I negotiated the acquisition of Active ES assets, and on July 25, 2012, Premier Holding Corp. entered into an Asset Purchase Agreement (the "Agreement") with Active ES Lighting Controls, Inc. ("AES"), whereby the Company acquired AES's intellectual property, including patents, trademarks and website. With this acquisition, the Company and its subsidiary now have the ability to fully leverage these assets through licensing, marketing, sales and global distribution strategies. The acquired AES patents include technologies that are some of the most energy-efficient lighting control products within the energy efficiency industry, providing reliable, cost-effective solutions with a typical 25 percent energy lighting savings. Such technologies include the Active ES E-Series™ (energy management modules for commercial and industrial buildings and lighted outdoor media signage), Active ES LiteHawk™ (energy saving lighting controls for strings of street lights and parking lot lights) and Active ES LiteOwl™ (energy saving lighting controls for an individual street light with a standard photocell). In connection with the Agreement, WEPOWER engaged Larry Young, AES's president, under an 18-month consulting agreement, to advise WEPOWER on the sales, marketing, manufacturing, continued technical development and international licensing of the technology acquired by the Company from AES, in addition to the sales, marketing and promotion of the entire portfolio of WEPOWER's green products and services under the consulting agreement.

Again as an advisor, I arranged a fee-sharing agreement with Illinois-based power seller, The Power Company. The Power Company provides customers with a choice of lowest cost or most strategic power provider for their business. With over 20 of the nation's largest power providers represented, The Power Company has generated significant energy and costs savings for many clients, all of which are potential referrals to PHRL and WEPOWER Ecolutions. In a few short weeks, we have been referred to millions of dollars of projects. Of course, all of these projects must be performed upon and be profitable, but this relationship has virtually eliminated prospecting.

Despite the Active ES technology and the leads from The Power Company, the shareholders were seeing little to no revenue. At the behest of our shareholders, we were asked to help reorganize the company, and after several months of discussions with the previous management, we felt we could best serve our shareholders by getting into revenue and booking assets as quickly as possible. I helped lead a shareholder group representing over 51 percent of PRHL shares that resulted in shareholder consent to action on Oct. 15, 2012. I became the CEO, the board of directors was reorganized, and we agreed to spin off WEPOWER.

This spin-off is designed to allow certain business opportunities to be transferred to NewCo WEPOWER in exchange for a note from NewCo. NewCo will be headed up by Kevin Donovan and Frank Schulte, and PRHL will have no affiliation with NewCo or its principals, although PRHL reserves the right to allow NewCo to distribute Active ES pursuant to a distribution agreement. These opportunities are expected to be exchanged for a note in the amount of $5,000,000, which will become an asset of Premier.

As the new CEO, we will change WEPOWER to Energy Efficiency Experts (E3). E3 will focus on lighting solutions, leading with Active Es and full lighting arrays that can be financed 100 percent through our channel partner. We will also focus on HVAC solutions and energy efficient motors -- lighting and HVAC typically account for over 70 percent of the power usage of our target prospects. We will still be able to sell a wide variety of green products and solutions, along with hundreds of building products.

In addition to our own sales, we will focus on strategic distribution of our Active ES technology. My first announcement as CEO, "Premier Holding Licenses to Muni-Fed Energy," is the start of a licensing and distribution program designed to bring in revenue as quickly as possible.

As you can see, we are already on our way to reorganizing and refocusing the company. In an effort to fast-track this turnaround, we announced on Nov. 29, 2012, that Premier Holding Corp. signed a letter of intent with The Power Company. We expect to close this transaction as quickly as possible but we have already begun the process of integrating sales between the two companies. By acquiring The Power Company, we picked up a number of benefits, including tremendous marketing resources, an integrated platform, key personal, and revenue and assets. We believe that The Power Company is currently on a run rate to exceed $3,000,000 in revenue for 2013 and those clients are also expected to generate revenue for our ESCO operations under the E3 banner. But more importantly, we will pick up significant assets. The Power Company currently has receivables of over $1,000,000 and currently holds power contracts with 8,600 customers that we believe represent in excess of $8,000,000 of assets that will become part of Premier Holding.

Once the acquisition is complete, we have a very simple plan moving forward: continue to market and sell deregulation (power) with The Power Company and fortify and grow this business by raising additional capital to expand internally and further by acquisition.

I believe we can roll up other resellers under the power company platform (and we are in active discussions currently). This growth will add to our marketing capability and therefore grow our ESCO (E3) business, as well.

Our story in the market becomes simple. This business will focus on marketing deregulated power -- a growing sector whereby all 50 states are expected to deregulate in the next seven years. Estimates indicate this deregulation will be 11 to 12 times bigger than telecom deregulation. This alone can be a very lucrative business, but we expect to take those same customers and/or prospects developed by The Power Company and, now that we have reduced their cost of power, introduce them to E3 whereby we can use our green products and solutions to decrease their power consumption, creating a powerful combination of lower power costs and reduced consumption. We believe this begins to outline a corporate structure that analysts will appreciate E3 ends up having little to no costs on the customer procurement side.

We have already received analyst coverage in the form of a Squeeze Trigger report through Buyins.net on Dec. 10, 2012. The bottom line of this report is that if Premier can trade at $0.48 then as many as 2,200,000 shares may have to be covered and brought into the market.

I believe that by growing our business, completing The Power Company acquisition, and adding that asset base to our company, we may get the attention of investors that may help PRHL trade at higher levels with greater volume and may even reach the squeeze trigger price and force a significant buy-in that could catapult our stock and increase our market cap.

I am currently working hard on all fronts and doing everything that I can to make your investment in PRHL a successful one.

Very Truly Yours,

Randall Letcavage, CEO (PRHL.OB)

About WEPOWER Ecolutions, Inc.

WEPOWER is a U.S. energy service company (ESCO) based in the Los Angeles area that offers renewable energy production, energy efficiency products and services to commercial middle-market companies, Fortune 500 brands, developers and management companies of large-scale residential developments. WEPOWER's business is focused as an integrator of clean-technology solutions in the U.S., with strategic expansion plans in Latin America, Asia and Europe. WEPOWER's core business delivers green solutions, branded specifically as WEPOWER "ecolutions," which include best-of-class alternative energy technology portfolio in wind turbines, solar PV power systems, green roofs, smart lighting controls, LED lighting, refrigeration systems and filters, battery storage systems, eco-friendly HVAC motors, energy and power control management systems, fuel reduction solutions for transportation and other clean technologies specific to its markets. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of solar- and wind-powered generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information visit us at: www.wepowereco.com

About Premier Holding Corp.

The Company provides financial and management expertise, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies, to its current subsidiary, WEPOWER. The Company also intends to acquire clean technology companies and/or green products and services that are accretive and that can be seamlessly integrated into WEPOWER, and utilize the overall economics of such products and services for the benefit of WEPOWER. For more information visit PRHL Investors Relations: www.wepowereco.com/prhlcorp

About The Power Company
The Power Company USA (TPC) is a nationwide, professional energy services firm offering brokerage and consulting services with a progressive and unique prospective on energy management. Our mission is simple: to assist companies in reducing and managing their electricity expenses. Our diverse portfolio of providers, transparent pricing, and unparalleled industry experience offers our customers freedom of exploring all of their options when it comes to choosing the best plan and provider. We operate in all deregulated states, including Texas, New York and Illinois, and TPC and its suppliers have provided an invaluable service to more than 5 million clients. Our team has consulted and/or serviced prominent companies, organizations and governmental entities such as: The City of Dallas, Choice Hotels, Apex Hospital Systems, Mercedes Dealerships, Leona's Restaurant Group, Ralcorp, McDonald's, and many others. Because of the large amount of business we transact and our long-standing relationships with our Regional Energy Suppliers, we are assured of the most competitive prices in the industry. For more information visit us at: www.thepowercompany.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: Esmeralda Swartz, CMO of MetraTech, has spent 16 years as a marketing, product management, and busin...
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: Samsung recognizes that true, accelerated innovation cannot be driven from one source, but requires a...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Robin Raymond, Chief Architect at Hookflash Inc., will walk through the shifting landscape of traditional telephone a...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it’s a mix of architectural style...
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accelerate their digital channels with APIs, drive partner adoption, monetize their assets, and achieve a...
From a software development perspective IoT is about programming "things," about connecting them with each other or integrating them with existing applications. In his session at @ThingsExpo, Yakov Fain, co-founder of Farata Systems and SuranceBay, will show you how small IoT-enabled devices from multiple manufacturers can be integrated into the workflow of an enterprise application. This is a practical demo of building a framework and components in HTML/Java/Mobile technologies to serve as a platform that can integrate new devices as they become available on the market.
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customizable platform to easily integrate into existing software solutions, embed business logic and build s...
Connected devices are changing the way we go about our everyday life, from wearables to driverless cars, to smart grids and entire industries revolutionizing business opportunities through smart objects, capable of two-way communication. But what happens when objects are given an IP-address, and we rely on that connection, sometimes with our lives? How do we secure those vast data infrastructures and safe-keep the privacy of sensitive information? This session will outline how each and every connected device can uphold a core root of trust via a unique cryptographic signature – a “bir...
Internet of @ThingsExpo Silicon Valley announced on Thursday its first 12 all-star speakers and sessions for its upcoming event, which will take place November 4-6, 2014, at the Santa Clara Convention Center in California. @ThingsExpo, the first and largest IoT event in the world, debuted at the Javits Center in New York City in June 10-12, 2014 with over 6,000 delegates attending the conference. Among the first 12 announced world class speakers, IBM will present two highly popular IoT sessions, which will take place November 4-6, 2014 at the Santa Clara Convention Center in Santa Clara, Calif...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at Internet of @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, will discuss how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.

SUNNYVALE, Calif., Oct. 20, 2014 /PRNewswire/ -- Spansion Inc. (NYSE: CODE), a global leader in embedded systems, today added 96 new products to the Spansion® FM4 Family of flexible microcontrollers (MCUs). Based on the ARM® Cortex®-M4F core, the new MCUs boast a 200 MHz operating frequency and support a diverse set of on-chip peripherals for enhanced human machine interfaces (HMIs) and machine-to-machine (M2M) communications. The rich set of periphera...

SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
Predicted by Gartner to add $1.9 trillion to the global economy by 2020, the Internet of Everything (IoE) is based on the idea that devices, systems and services will connect in simple, transparent ways, enabling seamless interactions among devices across brands and sectors. As this vision unfolds, it is clear that no single company can accomplish the level of interoperability required to support the horizontal aspects of the IoE. The AllSeen Alliance, announced in December 2013, was formed with the goal to advance IoE adoption and innovation in the connected home, healthcare, education, aut...