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09.26.2024

Dear Shareholder, 

I hope this update finds you well, and I hope you all had a great summer.

 I wanted to bring you up to speed on a few fronts.  This is the longest update that I have ever sent out. Sorry about that but we have too many deals these days. LOL

 Let’s start off with parking lot business. I am going to break this down in three parts. Part 1 what we have installed in the last few weeks. Part 2 of what is on the plate to install over the next few weeks and then some early results on a couple of lot projects.

 Here are some notable lots that were installed over the last few weeks:

·  Our 4th Whole Foods South Beach Miami Garage

·  Memphis TN Welcome Center Promenade Lot

·  Tanger Outlets Glendale, AZ

·  Memphis TN Convention Center Garage

·  Seattle, WA Target Garage

·  Raleigh, NC Advanced Auto Garage

·  Baltimore, MD Harbor Point Garage 600 S Eden St.

·  Boeing Tech Center Event Venue at Port Tech – San Antonio, TX

·  Seattle, WA Public Parking Garage 420 E Pike St.  

·  Tulsa, OK Bank of Oklahoma (BOK) Event Center parking lot

·  Memphis, TN AutoZone Baseball (Minor League) parking lot across the street

·  Coral Gables, FL Ryder Colonnade Garage

·  Memphis, TN – Hotel Indigo Garage

·  Phenix City, AL – Marathon Oil Truck Stop (will be our first to go live with ticketing of commercial trucks).

·  Duluth, MN – Technology Village Garage

·  St. Paul, MN – Travelers Insurance Xcel Center Parking Lot

·  Holly, MI - Michigan Renaissance Festival Lot

·  Mesa, AZ – Arizona Athletic Grounds

·  Duluth, MN – Saint Lukes Garage

·  Lake Minocqua, WI – 4th Boat Ramp

·  Duluth, MN – Duluth Civic Center

·  Minneapolis, MN – Theatre Garage

·  Minneapolis, MN – La Salle Court Garage

·  Minneapolis, MN – St. Anthony Main Garage

·  Minneapolis, MN – 7 Corners Garage

·  Minneapolis, MN – The Duffey 2 Garage

·  Duluth, MN – Medical District Ramp (MDR) Garage

·  Duluth MN – Hart Garage

This is over 25,000 spaces that have just been installed.

 Here are the lots that we are installing over the next few weeks:

·  207 N 7th Avenue, Phoenix AZ

·  142 Rep John Lewis Way N, Nashville TN

·  2910 Biscayne Blvd., Miami, FL

·  326 S 3rd st Phoenix, AZ

·  818 N 1st St. Phoenix, AZ

·  1251 Central Parkway Cincinnati, OH

·  1320 Arapahoe St Golden CO Calvary Church Garage

·  200 N Closner Blvd., Edinburg, TX

·  1021 N. 1st St. Phoenix, AZ

·  1021 S Saunders St Raleigh, NC

·  UNT – University of North Texas, Denton, TX- 4 lots

·  56 Roland St Suite 100A Charlestown, MA

·  Liberty Garage 700 S. Eden Street Baltimore, MD

·  10 13th street south Birmingham, AL

·  166 Rosevelt way, New Orleans - Common Garage

·  710 S Wabash Ave, Chicago, IL

·  714 1st Ave Seattle, WA

·  Venice Marina - 237 Sports Marina Rd,  Venice, Louisiana 

·  161 N Forge St Akron Ohio

·  2700 Ann Williams Way, Dallas, TX

·  144 Rep John Lewis Way N, Nashville TN

·  6706 N 95th Ave - Carl's Jr Glendale, AZ

·  620 Central Ave Denton, TX Highland Street garage

·  County-City Annex - 1825 Hendry Street, Ft. Myers, FL 33901

·  Overton Square Garage - 2100 Monroe Avenue, Memphis, TN 38104

·  410 Martin Luther King Jr Phenix City, AL

·  4201 15th Ave NE. Seattle WA

·  1762 Royal Palm Ave - Ft Myers

·  342 N Rampart St, New Orleans, LA 70112

·  1001 North Central Avenue, Phoenix AZ

·  345 W 100 S Salt Lake City, UT

·  1651 Lee Street Fort Myers, FL Library Lot

·  NP Avenue Ramp -  Pacific Avenue Fargo, ND 58102

·  Borealis Apartment - 721 N 1st St, Minneapolis, MN 55401

·  Brighton Resort -8302 S Brighton Loop Rd, Brighton, UT 84121

·  Riverbank Plaza Lot- 740 N Plankinton Ave

·  Intermodal Lot- 701 W St Paul Ave, Milwaukee, WI

·  Palisades Resort -Alpine - 1901 Chamonix Place , Olympic Valley, CA 96146

·  Mayo Clinic Square Ramp - 34 N 7th St, Minneapolis, MN 55403.

·  6th and State Lot - 601 W State Street, Milwaukee, WI

·  332 West State Street, Milwaukee, WI 53203

·  Solitude Resort -12000 Big Cottonwood Canyon Solitude, Brighton, UT 84121

·  NorthStar Resort - Preferred, 2299-2133 N Village DR. Truckee, CA 96161

·  Maynards Lot - 690 Excelsior Blvd, Excelsior, MN 55331- Big lot across the street from Maynards

·  Heavenly Resort -3860 Saddle Rd, South Lake Tahoe, CA 96150

·  Breckenridge Ski Resort - F Lot Breckenridge, CO 80424

·  Park City Mountain -1345 Lowell Ave Park City, UT 84060

·  Alta Skier Area -10160 E Hwy 210, Alta, UT 84092

·  Park City - Silver King, Park City, UT 84060

·  Park City - Lowell Lot, Park City, UT 84060

·  Kirkwood Resort - 1501 Kirkwood Meadows Dr, Kirkwood, CA 95646

·  Museum Center Park (MCP) -910 E Michigan Ave, Milwaukee, WI

·  Park City - Mountain Village Garage, Park City, UT 84060

·  Palisades Resort -Deer Run - 255 Alpine Meadows Rd., Alpine Meadows, CA 96146

·  Milwaukee Art Museum (MAM) -Calatrava Garage at 700 N Art Museum Drive

·  Stevens Pass Resort - G Lot - US-2, Skykomish, WA 98288

·  Aspen, CO - Highlands Garage - 199 Prospector Road, Aspen, CO 81611

·  WI1183 North Shore Bank Lot at 120 Wisconsin Ave, Pewaukee, WI 53072

·  NorthStar Resort - Village View Currant Rd. Truckee, CA 96161

·  Breckenridge Ski Resort - South Gondola - 150 Watson Avenue, Breckenridge, CO 80424

·  Breckenridge Ski Resort - Peak 9 - , 620 Village Road Breckenridge, CO 80424

·  Milwaukee Athletic Club - 758 North Broadway, Milwaukee, WI

·  Palisades Resort - Alpine Base Area -2400-2466 Alpine Meadows Rd. -  Olympic Valley, CA 96146

·  Broadway Wells- 792 North Broadway Street

·  Breckenridge Ski Resort - North Gondola - N French St., Breckenridge, CO 80424

·  Stevens Pass Resort - A,B,E,F Lot - US-2, Skykomish, WA 98288

·  Eco Lab Garage - 375 Cedar Street, St Paul, MN 55101

·  105 Surface Lot- 588 N Plankinton Ave

·  Lake Side MDR  - 302 East 1st Street Duluth, MN

Lots that are about to be installed have over 39,000 spaces. Here are some of the interesting highlights from above. Tanager outlet mall went live a couple of weeks ago,( 3000 spaces ) it is located right across the street from the Arizona Cardinals stadium.  On game days that lot gets packed with people trying to park for free in the outlet mall and walk across the street for the game. This has caused huge problems for them on days when the stadium has events. These events are 3 to 5 times per month and  fill up their parking lots. So, if you want to go to the outlet mall to shop you might as well take an Uber because there is no place to park.  Here comes MPS to the rescue. Tanager has just started to charge on event day 30 dollars to park in their lot, and if you don’t pay you get a 80 dollar ticket in the mail. We have now been installed for just 2 events. We mailed out 35,000 dollars in tickets for those 2 events.  People just blow my mind sometimes on their behavior.

I know that list is long, but did you notice we just got the ski resort in Aspen? I think we should all plan a ski trip out there this winter to look.

Did you see on the list we just the Truck stop in Alabama?  The opportunities around Truck stops are big. They are now charging these truckers to park and take a nap.  To no surprise, not  a lot of them are paying for it. So those folks will be getting a ticket in the mail. Premium Parking our partner thinks that is a very large untapped market as there are 40,000 truck stops in the USA. Premium has just hired a dedicated salesperson to pursue these opportunities. I have attached a picture of the first honorary recipients of a nice little parking ticket for not paying his overnight stay.

 As I was writing this update today, I was just told we landed 5 monster parking garages in Chicago, so we can add those to the list above.

MicroLot Update

As we previewed a month or so ago, we recently went live with a new MicroLot in Excelsior.  This marks our 5th lot (and counting) in Excelsior and is one of my favorites – next to one of the best ice cream spots around.  We began charging for parking in July and began automated enforcement in September.  Visitors of this 30+ space lot can validate their parking at participating restaurants/businesses.  Everyone else must pay.  Below is a summary KPI of the first 2.5 months.  Recall, with Microlots we participate in both the parking and violation revenue.  We mailed roughly 150 violations, representing $7,500, in the month of September.  We estimate that MPS will net $2,000+ per month at this lot, representing less than a 3-month payback on our investment.  (see attached KPI Summary)

State Capital of Texas Update

This pilot included 8 paid meter parking spaces, and 8 SafetySticks for no parking spaces. The results were better than expected. Please keep in mind that these guys are using IPS parking meters and they are the number 2 parking company on the planet. Look what we did to them.

 For the 8 paid meter spots, we averaged 6 people per day parking in each spot. Only 1 person actually paid for parking. That could have generated 5 parking tickets at $30 per ticket, per day.  

 That would average $3600 dollars per month per meter, which is a little higher than the $80 they were making before with our friends IPS. 

 Now this data is making the assumptions that everyone pays their parking tickets. Even if we only capture 80% of the license plates, and even if we only have 80% violation collection rate, it is still a number so high a dog could not hear it.

We had 8 SafetySticks, and they averaged 19 tickets per month each at $50 a ticket.  That comes to $950 dollars per month, per stick. They were making zero before on those spots. (see attached summary)

I’m happy to report we received two signed contracts with five-year terms from Butte-Silver Bow, in Montana.  The first contract was for SafetySticks and the second was for our garage management software and services. We can now check another state off the list.

Also, in the last couple of weeks we have had several reorders for sticks .

Here’s a news story from the local NBC affiliate in Montana: Butte commissioners sign off on parking enforcement for streets, Uptown garage

We have also had several cities come back for more sticks in the last few weeks Summerville, MA, Wilkes -Barre, PA , Hasbrouck Heights New Jersey , Little Falls, New Jersey, and  Hazelton, PA.

We are rocking and rolling on all fronts right now. I remember the days of getting one to two deals a year and then remember last year when it was one deal a day but now it is a little crazy we are getting 3 to 5 deals per day.

If you have any questions, please call me.

Hold on to your Hat!!!

Joe