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01.23.2024
Dear Investor, Hold on to Your Hat!!
There have been many stories written about MPS over the last 12 months, but this one is by far the best. I’ve already read it four times this morning and still can’t believe how good it is. If you only read one news story about us, spend two minutes on this one: https://www.parking.net/parking-news/municipal-parking-services-mps/leads-the-smart-parking-industry-with-patented-innovations.
This article is from The Parking Network, a leading parking publication in Europe and North America. A couple of weeks ago, we were also featured on the cover of Parking Today, the largest parking industry publication in North America, for our SafetySticks. We’ve been saying for years that our automated enforcement technology is revolutionizing parking, but it’s a whole different story when the industry itself says it.
For years, I’ve believed we’re destined to become one of the biggest companies on the planet. Now, it’s incredibly rewarding to see experts in the field agree. This article underscores our leadership in the automated enforcement market and highlights our growing intellectual property portfolio—47 patents and counting. As you know, we’re actively defending our IP with aggressive litigation. While we can’t share specifics, our legal team is highly confident about the prospects of success. A favorable outcome would position MPS to essentially own this $27 billion future market opportunity!
The timing of this article couldn’t be better. It’s a wake-up call for the industry that we’re serious about protecting our patents and pursuing those who infringe on our IP—many of whom are out there. My favorite sentence in the article is, “This extensive patent portfolio leaves competitors with no practical ways to automate enforcement without risking infringement of MPS’s patents.” To capitalize on this momentum and recent press, we’re launching a major mailing campaign directly targeting lot and garage owners. The campaign will:
Educate lot owners about our IP: We’ll inform them of their legal obligations under our patents and encourage them to consult with legal counsel to ensure compliance if their properties use fixed cameras for monitoring and enforcement.
Verify parking operators: We’ll help them confirm whether their parking operator is a licensed partner of MPS and make appropriate introductions.
Showcase the benefits: For those not using automated enforcement, we’ll highlight the significant cost savings and potential 30-50% revenue boost.
For those who haven’t read our white paper, here’s the Cliff Note version in three key points:
Mass Adoption Underway: The parking industry is in the early stages of widespread adoption of automated monitoring and enforcement, led by MPS’s patented technology.
Explosive Growth Ahead: Remotely enforced parking is expected to grow from just 5% penetration of paid parking lots today to more than 60% within 10 years.
Market Expansion: The size of the paid parking market is set to more than double or triple in the next 10 years, as automated enforcement transforms previously free or unmonitored parking areas into revenue-generating assets with minimal capital investment.
These massive tailwinds will fuel 75%+ annual growth across the industry, creating a $27 billion annual revenue opportunity. Call me if you have questions.
Hold on to your hat!
Joe