25 Jan CHRON’s Exciting Entry into the REP Space

Dear Shareholders,

Excerpt slide detailing more information on the REP acquisition.

I cannot say enough how excited I am we have finally acquired our own licensed retail electric provider; this is a tremendous step forward for us in our goal of becoming the leading smart home supplier to the masses.

Many of you do not know the history between Alex Rodriguez and I, nor even how we met. Almost a decade ago, my brothers and I formed a retail electric provider under the naïve impression that our experience in the telecommunications industry would provide us with all we needed to know. However, through a very expensive and humbling lesson, we quickly learned that energy was a completely different animal from anything that we’d ever done before. During that same time, Alex had just recently exited one of his previous companies, Stream Energy, where he had served as one of the founders and Managing Partner overseeing all operations.

During his tenure there, he saw the company grow from an idea into an operation producing nearly $1 billion in revenue in only its fourth year of operation. After leaving Stream, Alex set out on his own to launch NAUP Capital where he was targeting small energy companies as potential clients – this is where we met him and boy did we need his services! At that time, we were probably weeks away from either ceasing operations or going into default. He was the first person to not only see and understand our vision, but also see the opportunity; and he immediately began working to help us turn the situation around. Today that company is arguably the most successfully provider of “Pay-As-You-Go” electricity in the industry.

Folks, this is Alex’s area of expertise and where his abilities are unmatched. I have seen him build energy retailers into top notch companies three different times now (arguably four times). It is for all of these reasons that he was at the top of my list to bring on as a partner when I first got my hands on Chron. And now that we’re combing the smart home and energy industries, the possibilities are astounding. This, my friends, is when it gets interesting, when numbers get really big, really fast; and I cannot wait to see what the coming years hold.

 

Sincerely yours,

Byron T. Young

Chairman

 

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