Joe Biden’s plan pledges to “mobilize American manufacturing” to build a modern infrastructure — a $2.3 trillion undertaking to modernize roads, bridges, buildings and broadband internet access.
Infrastructure development cannot move forward without underground utility detection.
Recently listed ProStar Holdings (TSX Venture: MAPS, OTC: DXAEF) has replaced antiquated methods of detecting buried utilities and infrastructure by moving paper maps to the cloud and connecting engineering and construction firms with the latest, most accurate data.
With a growing list of clients spanning Fortune 500 companies to government agencies ProStar is aiming for $200 million in recurring revenue by 2025, and States have already started mandating its use.
60 Second Summary
- Over $10 billion annually is spent in the U.S. on underground utility and infrastructure detection.
- Today’s antiquated methods of locating and detecting underground utilities results in over 500,000 buried infrastructure strikes per year in the US alone, increasing risk of injury and death and resulting in enormous financial and environmental costs.
- ProStar’s Pointman® platform moves antiquated infrastructure data storage from filing cabinets into the cloud, providing real-time, survey-grade data to Prostar clients.
- ProStar Holdings (TSX Venture: MAPS, OTC: DXAEF) multi-award winning Pointman® with its 19 issued patents, is used by a growing marquee client list that spans Fortune 500 companies to US government agencies. Colorado Dept. of Transportation has just mandated Pointman® use, with a growing list of states putting it under review.
- In partnership with Louisiana Tech University’s engineering department, ProStar is providing the next generation of engineers the opportunity to work with Pointman(r).
- KCI, One of the top engineering firms in the US with 55 offices across the country, has adopted ProStar’s PointMan SaaS Solution.
- Management, Board and Key Employees own 35% of the shares, subject to 36-month lockup and restrictions.
Technical Advisory Board member and program manager of utilities and railroads at the Colorado Department of Transportation, Rob Martindale: “I am very pleased to align myself with a pioneering company such as Prostar. Early in my career, I made a commitment to change the way our industry manages buried utilities, and I believe that serving on the Prostar technical advisory board will help me to better realize my mission while serving the needs of the Colorado Department of Transportation.”
March 10, 2021: ProStar Announces Closing of $1 Million Private Placement, adds strategic investor.
March 11, 2021: ProStar Partners with Bad Elf to Expand Hardware Integration Base
March 15, 2021: ProStar Hires Jason Martschuk as VP of Sales for Canada
March 31, 2021: ProStar Poised to Disrupt the Infrastructure Industry with PointMan Pro
Hitting The Ground Running
ProStar Holdings (TSX Venture: MAPS, OTC: DXAEF) has recently broken ground by listing its shares for trading on the TSX Venture Exchange on January 11th, opening the doors for investors like you to participate in the company’s aggressive growth drive before the herd gets in. This offers a unique opportunity to start your review of this investment before so many others hear about it in the weeks and months ahead. Be sure to get on ProStar’s e-mail list now so you don’t miss out on breaking news and updates from the company.
With its flagship product already commercialized, this microcap technology company has landed a partnership with $16 billion multi-national GIS company Trimble (Nasdaq: TRMB). Combined with a growing list of clients that already includes some of the biggest engineering and infrastructure builders in the US and Canada, ProStar is in the very sweet spot in its investment lifecycle that should not be ignored by value hunters.
ProStar has solved a major problem plaguing the international surveying and construction industries, while bundling its software, Pointman®, into an easy-to-use integrated mobile and cloud-based platform. The Company intends to exponentially grow its already robust cash flow by offering Pointman® as a SaaS model to companies in a multitude of verticals including engineering, construction, telecom, railways, electricity, oil & gas and others.
ProStar’s patent protected, and multiple award winning Pointman® system provides ProStar customers with real time, survey grade underground infrastructure location data that saves them money, protects the environment and ultimately makes all our lives safer.
To understand the amount of relief provided by Pointman® to the multi-trillion dollar infrastructure industry, one must first understand the scope and seriousness of the problem.
A recent survey of stakeholders in the construction industry (UK) has reported that respondents identified unreliable (inaccurate, incomplete) records as the biggest source of risk of damage to underground infrastructure.
With approximately 35 million miles of underground pipelines and utilities throughout the U.S. alone, an estimated $10 billion USD annually is spent toward underground infrastructure detection.
When a utility line or pipeline is struck due to poor information, bad things can happen. There is risk of injury and death. There is a disruption of critical communication and other infrastructure services locally. There can also be severe environmental damage, with a risk of gaseous products or petroleum leaking into our water systems, rivers, lakes and oceans.
It has been estimated that unreliable location information about underground infrastructure results in 400k – 800k strikes annually (or 1 or 2 per minute in the United States alone), representing a $50 billion to $100 billion drag on the U.S. economy.
Current methods for identifying the location of buried utilities are so antiquated that if it wasn’t so dangerous, it would be comical. The old method includes electro magnetic tools and a paint can or a flag to mark the spot, with paper documents and maps remaining the primary source for storing this information.
Utility maps are often in the form of design drawings or sketches and in many cases show relative locations based on objects, such as a curb or a building. If the location of the curbing has changed or the building no longer exists, then the use of this reference object to provide the relative location is no longer valid.
These antiquated systems and workflows frequently produce inaccurate, imprecise or dated information which lead to costly delays, loss of life and human injury not to mention damage to both property and our precious environment.
The Solution: Award-Winning Pointman®
ProStar Holdings (TSX Venture: MAPS, OTC: DXAEF) PointMan® integrates mobile and cloud applications with GPS mapping and utility location tools to provide real time, survey-grade data to ProStar customers.
Pointman®’s ability to end this ongoing dilemma has already attracted State-level government attention and a marquee client list of some of the world’s largest engineering, construction and infrastructure firms.
ProStar is now a multiple award winning company, including ACQ5’s “Technology of the Year”, Silicon Review Magazine’s “30 Best Leaders To Watch” and Acquisition International’s “Global Leader in Geospatial Software Development.”
Colorado Department of Transportation (CDOT) has mandated PointMan® throughout the state beginning in January of 2021, while a growing list of other US states has it under review.
ProStar’s ambition to make Pointman® the de facto standard in underground utility detection is becoming more of a reality every passing week.
Recent developments have confirmed the industry’s support and need for ProStar’s PointMan.
On January 21st the Company announced a partnership with Louisiana Tech University, whereby LTU will integrate Pointman® into its engineering department at both graduate and undergraduate curriculums.
Dr. John Matthews, TTC Director said “PointMan offers the ability for my students to become familiar with a new and innovative technology that is now seeing adoption by construction firms, engineering and surveying companies, and government agencies.” The engineering professor went on to say, “We want our engineering graduates to be the most skilled students when they enter the workforce and working with a robust mobile and cloud data collection solution like ProStar’s PointMan helps us to attain that goal.”
On January 26th, the Company announced that KCI, one of the top engineering firms in the US, with 1700 employees and 55 offices across the country, has adopted ProStar’s PointMan SaaS solution. “PointMan delivers to KCI a more efficient workflow process, trusted data quality and precision, and it is also, by far, the easiest I have ever used when compared to any of the other major mobile GIS solutions on the market,” said Joseph Porter, National Training and Quality Control Manager at KCI’s S.U.E. and Utility coordination division.
The ultimate seal of legitimacy came on July 8th, 2020 when ProStar was invited to join Trimble Inc.’s (Nasdaq: TRMB) GIS Business Partner Program, allowing Pointman®’s seamless integration into Trimble’s hardware.
Operating in over 150 countries, Trimble is a $16 billion market cap company providing products and services that “connect the physical and digital worlds.”
This partnership essentially opens the floodgates, giving ProStar a global platform to showcase its product via 163 Trimble dealers worldwide and reach infinite amounts of new customers.
Stephanie Michaud, strategic marketing manager at Trimble Survey & Mapping field solutions had this to say when the ProStar / Trimble Partnership was announced:
“Together, Trimble and ProStar are changing the way construction companies, engineering and surveying firms as well as government transportation agencies capture, store and utilize utility infrastructure data. By leveraging the power of geospatial technology, they are able to make more informed decisions in the field,”
Enforceable Patent Protection
The company’s core defensible IP gives them a firm grip on the acquisition and visualization of data pertaining to underground utility location. Put simply, a competitor attempting to collect and upload to the cloud underground utility data would be infringing on ProStar’s rock solid patents. They’ve effectively created a moat to protect what is increasingly being seen across the industry as an indispensable tool. The effectiveness and value of the Company’s 19 issued patents is apparent in the quality and caliber of clients they have been able to retain and continue to build.
Saas Model = Exponential Recurring Revenue
The Company is already well on its way toward a robust growth curve, and expect to close out 2020 with $2.2 million in revenue. Assuming a $1,995/year subscription rate for ProStar, the company would need to hit just over 10,000 clients to reach a $20 million annual revenue milestone. Given the sheer size of the industry, the dire, industry acknowledged need for Pointman® and enforceable patents to lock up the technology, ProStar has their sights set on 100,000 clients by 2025, equating to $200 million in revenue at today’s prices. We feel these numbers could be incredibly conservative.
ProStar Holdings (TSX Venture: MAPS, OTC: DXAEF), while still a young company, has proven to be a serious contender to completely transform the way global underground infrastructure is mapped, logged and shared. It helps the environment, it saves lives all while saving ProStar customers money. They already boast a top tier client list which span Fortune 500 companies to US government agencies, with a rapidly growing pipeline of potential new customers.
With shares having just started trading on January 11th, consider yourself in a rare window of opportunity to start your review on this investment before so many others hear about it in the weeks and months ahead.
Shares in ProStar Holdings (TSX Venture: MAPS, OTC: DXAEF) may represent an outstanding opportunity for investors seeking ground floor investments into an industry leading, high growth company providing defensible patented solutions to the multi-trillion dollar infrastructure sector.
Page Tucker – Chief Executive Officer & President
Page Tucker has an extensive background in technology start-ups, including development, marketing, recruiting, capital financing and executive management. Page first became known as a technology visionary in the automotive industry for combining data mining and predictive modeling with geographic information systems. Page was the founder of Impact Solutions, Inc., a Silicon Valley based company he formed to provide state-of-the-art customer acquisition and retention solutions to the automotive industry. Page reorganized Impact Solutions and formed e-autobusiness, the pioneer in the development of a web-based CRM solution that provided services to well over 900 dealerships throughout the United States before being acquired. Page went on to author several patents based on geospatial technology including the methods for capturing, recording and displaying the precise location of buried utilities and in 2014 founded ProStar Geocorp. In 2016 the Colorado Technology Association named him Entrepreneur of the Year for his efforts and innovations in developing Geospatial Intelligence Software. Today, Page continues to serve as the company’s CEO and President.
Vasa Dasan – Chief Operating Officer
Vasa Dasan is responsible for building, managing and leading the Product Management, Software Development, DevOps, Professional Services and Customer Success at ProStar GeoCorp. A veteran of driving technical strategy and execution in cloud computing, Vasa joined ProStar from CU Boulder where he served as head of software development. Prior to that Vasa was the VP of Engineering at Symplified, a single sign-on startup acquired by RSA a division of EMC-DELL. Prior to Symplified, Vasa was the first engineering hire at Wayin, a mobile and web engagement platform founded by Scott McNealy. As CTO, Vasa built and led the team that developed Wayin’s services for iPhone, iPad and Android devices, social media applications including Facebook and Twitter, and Java backend services operating on Amazon Web Services. Vasa spent more than 15 years of his career at Sun Microsystems. He served a chief technologist for the company’s Cloud Computing Practice, and he spent more than a decade as Distinguished Engineer and CTO for Sun’s $5.1 billion SunService division. He joined Sun as a staff engineer for SunSoft and worked on Solaris Operating System. Before Sun, Vasa held engineering positions at Intergraph and Hewlett Packard. Vasa holds a BS. in Engineering Physics, a MA in Mathematics and Statistics and a MS in Computer Science from Bowling Green State University, and did his PhD work in Computer Science at Colorado State University. Vasa served as adjunct faculty at Computer Science and Engineering Management at University of Colorado at Boulder. Vasa has several patents and publications to his credit including the highly referenced US patent 5,761,662 on personalization of Web, and the Prentice Hall book, Hands-on Intranet.
Carl Lashua – VP of Admin Services
Carl Lashua is a proven senior executive with extensive international experience building and leading information technology, operations and program management teams. Prior to joining ProStar Carl was with HSBC, one of the world’s leading global financial services companies. Carl held various executive level positions in both North America and Europe including Program Director Global Change Delivery, Head of Software Delivery Europe, CIO France and CIO Canada. He has extensive experience leading teams providing business consulting, software engineering, enterprise technology deployment, change management and support services. He earned his Bachelor of Science (BS), Information Technology with concentrations in Economics and Business Administration from State University of New York College at Buffalo. Carl has proudly served as a board member for several organizations, including: The National Hospice Foundation, Canadian Payment Association; and the New York Cash Exchange.
Matthew Breman – VP of Marketing
Matthew Breman is a results-proven leader with over 25 years of marketing and communication experience. Specializing in delivering new products and ideas to market with a very experiential and customer-centric delivery, he has helped a broad range of brands including, MTV / Nickelodeon, Disney Resorts, and Microsoft succeed. While the head of Cranium 360, he moved the company from start-up to a national award-winning marketing agency. He has worked closely with great clients and brands such as Johns Manville, Enstrom’s Toffee (if you have ever tasted it, you would understand), national franchisors, banks, and hospitals. Matthew’s experience, across a wide variety of clients, includes successfully bringing new products to market in industrial manufacturing, medical technologies, professional services, health, and beauty.
He earned his BA from the University of South Florida and his MBA from Rollins College. His civic involvement includes leadership position in the Grand Junction Chamber of Commerce, United Way of Mesa County, and most recently as an elected City Council Member for Fruita.
Bill McIntyre – VP of Business Development
Bill brings over 20 years of IT services and SaaS solution business development experience. Bill first began his sales career selling IT business solutions & services with Origin Technologies, an ERP implementation and IT consulting division of Phillips. Bill successfully acquired several key corporate accounts such as AEP, Columbia Gas and Nationwide Insurance that resulted in over $8 million in increased annual revenues. Bill went on to ReSource Partners, an ASP provider of PeopleSoft, CRM and data center solutions where he was awarded for both highest revenue generation and most improved customer service management. As a result of his performance and accolades, Bill was recruited by FacilitySource Inc., a startup SaaS based facility maintenance management suite focused on multi-unit retailers and restaurants. Prior to being recruited by ProStar, Bill was the National Business Development Manager for Willbros Engineering, a leader in energy infrastructure design, build and management services. Bill holds a BS in Marketing from the University of Cincinnati and is certified by Miller Heiman – Solution Sales and KARRASS – Contract negotiations “The Win-Win” training. He is also an active member of several industry organizations including, CGA, AGA, OGA and CTC (Columbus Technology Council).
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