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Parent of Broker Reports Quarterly Results
Premier Holding Corporation, the parent of broker The Power Company USA, LLC as well as an energy efficiency company, reported a net loss of $765,000 for the three months ended September 30, 2015, versus a loss of $570,000 a year ago
Revenue was $1.3 million for the three months ended September 30, 2015, versus $851,000 a year ago. For the 2015 quarter, nearly $1.2 million of the revenue was from The Power Company commissions
As reported previously, Premier said in a 10-Q that its accumulated deficit of nearly $22 million as of September 30, 2015 raises substantial doubt about Premier’s ability to continue as a going concern over the next twelve months
In the 10-Q, the Premier Holding Corporation said that it recognizes it will need to raise additional capital in order to fund operations, meet its payment obligations and execute its business plan. "If the Company is unable to obtain financing on a timely basis, the Company could be forced to sell its assets, discontinue its operations and/or pursue other strategic avenues to commercialize its technology," the company said
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November 24, 2015
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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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