23
11.01.2024
Dear Investor,
All these years I have been saying “hold on to your hat”. Well to be honest, my hat just blew off. I must go find me a new hat now.
We can combine all the deals we’ve ever gotten since we started and they still wouldn’t compare to this. To say this is a big deal in an understatement. If you gave me a Harry Potter magic wand and said conjure up a big deal, that damn magic wand could not even come close to making a deal this big. This deal is signed!!
I’ve mentioned in a previous investor update that MPS and Premium were selected by ASM Global to install our solution at a newly developed event venue in San Antonio, TX – Boeing Center to demonstrate our fixed based Open Lot Enforcement capabilities. This live/production demonstration over the past several months was a total success. Yesterday the New Orleans City Business news outlet released this article highlighting an agreement between ASM Global and Premium https://neworleanscitybusiness.com/blog/2024/10/31/asm-global-selects-new-orleans-company-as-parking-operations-partner/. A few data points I’ll highlight from the article are below and MPS is engaged in the design of our solution for several of the locations mentioned that we will provide further details on as we get close to implementation.
As most of you know Premium Parking signed a 15 year contract with MPS to rebranded our patented gateless technology, Premium calls it Glide Eye, it just our technology rebranded.
ASM Global – which manages more than 400 of the world’s most prestigious arenas, stadiums, convention/exhibition centers, and performing arts venues, the list is as long as your arm and most of you have heard of all these places. Here is the list https://www.asmglobal.com/p/our-portfolio . This deal is for ASM’s portfolio in North America, please go look at that list. ASM has selected New Orleans-based Premium Parking to provide free-flow parking operations and technology for ASM Global-managed venues across North America. (that means they selected MPS)
Both companies say the partnership will modernize parking management, streamline parking operations, and create smoother, more efficient parking processes at major venues across the ASM Global five continent global footprint.
Premium Parking uses modern cloud infrastructure, AI camera technology, and mobile payments, as just some of the technology functions to enhance free-flow parking operations and help patrons get out of their cars and into their seats faster to maximize their experience.
“Leveraging Premium Parking’s free-flow parking operations has enabled us to substantively improve the overall flow of vehicles into the lots while also lowering our staffing needs, allowing us to generate an elevated revenue stream,” said William Breuer, General Manager, Boeing Center at Tech Port. “In tandem, attendees are getting into the venue faster creating an enhanced guest experience that is key for the venue.”
If you are wondering if this is game changing the answer is yes on so many fronts. This deal is an endorsement of not only our technology but our patents behind this technology as we know it was part of the discussions over the many, many months we’ve been at this with Premium. It also displaces one of our big competitors and patent infringers that have been a long-time partner of ASM. We just killed two birds with one stone.
Go get a new hat.
Hold on to your hat!!
Joe