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05.21.2024
Dear Shareholder,
This shareholder announcement is going to be long, so I have decided to break it down into two parts. Part One will be about product development. Part 2, which will drop the end of next week, will cover business development – and the great things that are happening on the patent front. So, sit back and enjoy - here we go!
MPS is accelerating into the future with groundbreaking advancements that are continuing to redefine the parking industry and solidify our position as the leader in automated parking management and enforcement technologies. We’ve been working tirelessly behind the scenes for 2 years, and today, I’m thrilled to unveil four transformative developments that will propel our growth, scalability, and innovation to new heights. These product developments will really help us open new markets, decrease our cost and help us scale.
SafetyStick® Installation App
In the past, installing our SafetyStick required sending our team to every location – a process that, while effective for perfecting the deployment, wasn’t built for global scale. We got our hands dirty, learned what works, and engineered a solution that changes everything. We now have introduced our cutting-edge SafetyStick® App – a powerful tool that empowers cities to install and configure SafetySticks with pinpoint precision in record time. This app handles everything: GPS coordinates, serial numbers, grace periods, ticket pricing – you name it! What once took hours of manual laptop configuration and onsite MPS personnel now happens in minutes, reducing installation time and costs.
Now we can scale our solar-based SafetySticks® and ship them anywhere across the globe – from Paris to Paraguay. The City’s local team simply downloads our app and installs them in minutes. Now we are talking.
FUSIONAI™ Node: Supercharging MPS Lot Technology, Scale and Flexibility
The Ultimate Game-Changer. No more limitations of single-supplier dependency. Our team has engineered a compact, shoebox-sized marvel – the FUSIONAI™ Node. This AI-powered wonder connects any third-party IP LPR camera – yes, even a $100 Walmart camera – to our industry-leading Parking Management and Enforcement platform. No more costly camera replacements or fears of supply chain issues. Our high-performance cameras are great, running our proprietary software directly on the device for unparalleled performance. But relying on a single supplier? Not anymore. Whether it’s a lot with existing security cameras or systems from competitors infringing on our patents, our Node seamlessly integrates them into our SentryLink software, delivering real-time parking session and violation data without skipping a beat. This dramatically reduces the cost and complexity of converting competitor deployments, strengthening our position as we scale our IP enforcement efforts.
Our first production installation is live in Chicago. It is working like a world champ. We plan on full general availability set for June. This is a seismic shift that helps accelerate our market penetration. See Picture attached.
FUSIONAI™ Mobile: Drones Redefining Enforcement – the Next Frontier
Our FUSIONAI™ Mobile solution is taking parking enforcement to the skies! Leveraging cutting-edge drone technology, we’re capturing accurate vehicle data from 60 feet in the air and 150 feet away, programmed to pinpoint flight routes and locations. Our team has been hard at work, securing FAA certifications and navigating complex regulations to ensure full compliance. With two patents filed over a year ago and field testing in full swing, we’re on track to launch this revolutionary solution in Q4. Drone-based enforcement represents the next frontier in parking management and enforcement. We see this eventually replacing manually enforced locations while opening many new market opportunities. As we continue to innovate and develop the solution for production use, we’ll keep you updated on the progress. See Pictures attached.
Next-Gen Solar-Powered on Street Solution
While our current parking meters are light-years ahead – packed with cutting-edge features like eye-level surveillance, video 911, stolen car alerts, and even tornado warnings – sometimes, cities just want simple, efficient, and affordable paid parking. We heard them loud and clear, and today, we’re thrilled to introduce our groundbreaking Solar-Powered On-Street Parking Solution, a sleek, cost-effective, innovation that’s set to transform the parking landscape and ignite new growth opportunities for MPS!
Drawing inspiration from our solar-powered SafetyStick®, this solution is purpose-built for paid on-street parking. It delivers the core functionality cities seek – seamless smart parking and enforcement – while slashing MPS’ installation and operational costs by a staggering 70% per spot. This opens the door to smaller towns and markets with lower parking ticket prices, expanding our reach like never before. Forget months of setup; we can now deploy this solution in a single afternoon, making paid parking accessible to cities of all sizes, from bustling metropolises to quiet communities.
Packed with MPS’s Signature Innovation
Don’t let its simplicity fool you – this solar-powered meter is brimming with MPS’s Patented ingenuity. Powered entirely by the sun, it eliminates costly trenching/infrastructure and maintenance, making it an eco-friendly powerhouse. Users can pay effortlessly via our intuitive app or a quick QR code scan, ensuring a frictionless experience. And here’s where it gets exciting: our industry-leading features like True Up and Auto Pay are fully integrated, delivering unparalleled convenience and flexibility.
True Up: Parked longer than planned? No problem! If you pay for 30 minutes but stay for two hours, simply “true up” by paying for the extra time via the app before you leave – no ticket, no hassle. It’s parking made forgiving and fair.
Auto Pay: The ultimate in convenience! Users download our app, set up their profile with their name, license plate, and credit card, and they’re done. Park for 20 minutes? Charged for 20 minutes. Stay for 45? Charged for 45. It’s fully automatic, ensuring drivers never have to worry about tickets again. Just Park and Go – MPS handles the rest.
This isn’t just a concept – it’s a proven solution, perfected in our labs and now ready to market in the real world.
We’re thrilled to announce that the city of Odessa, Texas, unanimously voted last week to launch a 30-day trial of our solar-powered parking meters. We’re confident this trial will showcase the solution’s flawless performance, paving the way for widespread adoption. With installation times slashed and costs dramatically reduced, we’re poised to roll this out across the U.S., bringing paid parking to streets everywhere for pennies on the dollar.
Why This Matters
By lowering barriers to entry, we’re unlocking new markets and revenue streams, positioning MPS to attack the on-street parking space like never before. In the past we turned down numerous opportunities because the economics owing associated with low fine amounts and expensive installation expenses didn't justify the pursuit. The new solar meters will allow us to target these opportunities.
The Future Is Bright
With four ground-breaking new products, MPS is not just leading the industry – we continue to redefine it. As we launch our SafetyStick App, FUSIONAI Node in Chicago, solar meter trial in Odessa, and FUSIONAI Mobile Drone technology, the road ahead is brighter than ever. Get ready for a future where MPS brings smart parking and enforcement to every corner of the world! As always if you have any questions, please call me
Hold onto your hats!
Joe
