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09.08.2024

Dear Shareholder, 

 I just wanted to send a quick note about the pilot we are running for parking meters at the State Capital in Austin, TX. I have attached a picture. 

Now, it has only been one week, so I am having to extrapolate this out to figure out what one month looks like. It is mind blowing.

The state has 545 paid on street parking spaces around the capital. They average making 89 dollars per month per space. We are currently on a run rate to increase that to 1,327.00 per space, or a 1400 percent increase from current revenue.  The state currently uses parking meters from IPS.  IPS is currently the number 2 parking meter company in the world. Once the pilot ends in one month I will send out a full report. So far, these results are off the charts. 

For our shareholders that live in the area we are planning an open house on September 26th at 6pm at the pilot location followed by a dinner. At that point we will have one month of data so we will have the final numbers on the pilot.  This will also be a unique opportunity for you to use the parking meters and test them out yourselves if you have not already.

An invitation will be emailed to all Austin area shareholders as we get closer. If you don’t live in the Austin area and want to attend, please send Rachel an email at rachel@mpspark.com. We will make sure you get an invitation. As always, if you have any questions just call me, and I look forward to seeing many of you then.

Hold on to your hat!!

Joe