July 25, 2016 8:47 PM ET

Electric Utilities

Company Overview of Aspirity Holdings LLC

Company Overview

Aspirity Holdings LLC, through its subsidiaries, focuses on providing retail energy services in North America. It operates through two segments, Retail Energy and Financial Services. The company intends to supply electricity to residential and non-residential customers in 14 jurisdictions. It also provides energy-related financial services to companies and households. The company was formerly known as Twin Cities Power Holdings, LLC and changed its name to Aspirity Holdings LLC in July 2015. Aspirity Holdings LLC founded in 2009 and is headquartered in Minneapolis, Minnesota.

701 Xenia Avenue South

Suite 475

Minneapolis, MN 55416

United States

Founded in 2009

11 Employees

Phone:

763-432-1500

Key Executives for Aspirity Holdings LLC

Chairman and Interim Chief Executive Officer
Age: 50
Chief Financial Officer, Vice President of Finance and Secretary
Age: 59
Chief Marketing Officer and Vice President
Age: 57
Compensation as of Fiscal Year 2016.

Aspirity Holdings LLC Key Developments

Aspirity Holdings LLC Announces Executive Changes

On July 13, 2016, Mark A. Cohn resigned as President, Chief Executive Officer, and Director of Aspirity Holdings LLC and each of its subsidiaries, as applicable, effective immediately. On July 13, 2016, the board of directors appointed Mr. Krieger (age 50), the founder of the company and its principal equity owner, to serve as the interim Chief Executive Officer, with the goal of hiring a new Chief Executive Officer within the next 30-60 days. Mr. Krieger previously served as the company's Chief Executive Officer prior to its restructuring in 2015 for a period of more than five years.

Aspirity Holdings LLC Announces Consolidated Earnings Results for the First Quarter Ended March 31, 2016

Aspirity Holdings LLC announced consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net revenue of $9,606,000 compared to $5,461,000 a year ago. The increase was driven largely by revenues from Retail Energy Holdings which will no longer be consolidated with financial results starting in the second quarter. Operating loss was $2,530,000 compared to $3,073,000 a year ago. Loss from continuing operations before income taxes was $3,441,000 compared to $3,733,000 a year ago. Net loss from continuing operations was $3,441,000 compared to $3,733,000 a year ago. Net loss attributable to company was $2,619,000 compared to net income attributable to company of $833,000 a year ago. Net loss attributable to common shareholders was $2,757,000 compared to net income attributable to common shareholders of $695,000 a year ago.

Aspirity Holdings LLC announced delayed 10-Q filing

On 05/16/2016, Aspirity Holdings LLC announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

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