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01.18.2024

Dear Investor,

I have some very exciting updates that came across my desk yesterday.

If you recall, I spoke a couple months ago about a city in NJ that was currently using our SafetySticks to guard their no parking spots like fire hydrants and bus stops. They came to us and said, “we really have a big problem with people staying way longer in our 15-minute only parking spots. Would your SafetyStick work in that situation?” Obviously we said “absolutely!”

Well, the results are in. Before I give you the numbers, let me give you the details on how they are set up. Like I said, these are 15-minute only parking spots that do not give you a ticket if you are one second late. They have a 5-minute grace period programed in them, so if you stay 20-minutes, you are getting a ticket. The ticket price is a lower amount than parking in front of the bus stop or fire hydrant. These tickets here are 40 dollars per ticket. MPS gets 40 percent of the published ticket price regardless if they collect the ticket or not. The results are so eye opening; you would be shocked to see how many people stayed well over an hour.

 75 percent of the people stayed well over 30-minutes. These 15-minute spots are in rock star locations, and they are abused all day long. Our cut of the money on each SafetyStick (four of them) for the first month has been around 700 dollars per stick!  

Stop and think about how many 5-minute, 10-minute, 15-minute and 30-minute only parking spots there are in the world. My early research has come up with a number so high that a dog can’t hear it. Currently nobody is really doing anything to enforce it. The opportunity on these types of spots is simply huge.

As always, if you have any questions, please call me.

Hold on to your hat!!

Joe