Online Mapping Will Revolutionize Excavation Projects

Have you ever wondered how cities or companies don’t yet know how to avoid damaging pipelines and underground utilities when they do reparations? Well, it is primarily thanks to the old way of using paper maps and spray painting markers … and a bit of luck. But those times are over, thanks to ProStar Holdings (TSXV: MAPS, OTC: MAPPF, FRA: 5D00). The company has a proprietary cloud and mobile mapping tool intended to significantly enhance workflow and administrative procedures related to the development and administration of subsurface infrastructure.

What Is The Problem? 

It is an extremely challenging task to run excavation projects. Each one of these undertakings could end up hitting an electrical conduit, water line, gas pipe, or telecommunication cable. This can cause costly delays, and inconveniences which would include downtime, equipment damage, and worse, potential injuries, deaths, and reputation harm. What are the main reasons?

Online Mapping Will Revolutionize Excavation Projects

When the $1.2 Trillion “Infrastructure Investment and Jobs Act” was signed into law on November 15th, 2021, a tidal wave of infrastructure spending was unleashed across America.

Have you ever wondered how cities or companies know how to avoid damaging pipelines when they do repairs? 

Sometimes, mistakes like these can cost the lives of these infrastructure workers.

The real reason they are unable to avoid potential damages is primarily thanks to the old way mapping and… right now, a bit of luck. 

The current system is paper-based, manual and highly inaccurate. 

The good news is that these times are over, thanks to ProStar Holdings (TSXV: MAPS, OTC: MAPPF, FRA: 5D00). 

The company has a proprietary cloud and mobile mapping tool intended to significantly enhance workflow and administrative procedures related to the development and administration of subsurface infrastructure.

What Is The Real Problem Here? 

The brutal truth, it is an extremely challenging task to run excavation work without proper technology. 

Each one of these undertakings could end up hitting an electrical conduit, water line, gas pipe, or telecommunication cable. The result is it can cause costly delays, and inconveniences which would include downtime, equipment damage, and worse, potential injuries, deaths, and reputation harm. 

So what are the main reasons?

  • Improperly planned excavation techniques or using outdated utility location services are two significant causes of underground utility damage.
  • Excavators frequently damage utilities unintentionally while working, or they may assume the depth and breadth of the utilities incorrectly.

It is extremely unsettling to assume the width or depth of a potential underground utility. 

What happens if the presumptions are incorrect? 

Consider a sewer pipe that was 24 inches deep when it was put up 30 years ago. However, how might things have changed in those 30 years? What if erosion occurred or fresh landscaping was installed? There is a good chance that the sewage line, which was formerly 24 inches deep, is now just 20 inches deep. It is extremely risky to estimate the depth or breadth on your own without consulting one of the knowledgeable and authorized utility-finding companies.

There are currently 35 million miles of these utility lines buried below the US alone. These infrastructure workers so desperately need a real-time viewing solution for all underground utilities. With over 500,000 damages to these lines annually, the costs can pile up. 

This problem currently costs the US economy USD $30B each year. 

Imagine we could prevent these damages by utilizing online underground mapping. 

And this is where PointMan, Prostar’s flagship technology, arrives. 

Why Is ProStar’s Solution Revolutionary? 

Here’s the catch, and opportunity for keen investors paying attention at these levels: infrastructure development cannot move forward without underground utility detection.

Let’s get to know ProStar. The company is specialized in the development of precision mapping solutions thanks to geospatial technology. 

ProStar’s solutions have been used by some of the most prominent organizations in North America, including Fortune 500 construction companies, Subsurface Utilities Engineering (SUE) companies, utility owners, and governmental organizations.

PointMan, a proprietary cloud and mobile mapping tool created by ProStar, dramatically improves companies’ procedures and workflow processes involved in developing and administrating subsurface infrastructure. 

Utility mapping allows construction workers to easily access underground utility data at any time, and at a more affordable price. It doesn’t replace the need for on-site utility locating, but it helps workers prepare better by providing valuable information about where to look, what to look for, which tools to use, and how much caution is needed. This includes using hand tools or non-conductive tools as necessary. By using consistent coordinates, scale, and measurements, utility mapping ensures that utility map files and scanned files align accurately with a site plan. This allows for easy comparison with remote sensing and topographic survey data, making the process faster and more reliable.

ProStar Holdings’ PointMan® merges mobile and cloud apps with GPS mapping and utility locating capabilities to give ProStar customers real-time, survey-grade data. The State-level Government and a prestigious customer list comprising some of the top engineering, building, and infrastructure businesses in the world have already taken notice of Pointman®’s capacity to resolve this persistent problem. 

ProStar has since garnered several honors, including “Technology of the Year” honors from ACQ5, recognition as one of Silicon Review Magazine’s “30 Greatest Leaders To Watch,” and “World Leader in Geospatial Software Development” honors from Acquisition International. Beginning in January 2021, the Colorado Department of Transportation (CDOT) will enforce PointMan® throughout the whole state, and a rising number of other US states are also considering it. Week by week, ProStar’s goal of making Pointman® the industry standard for locating subterranean utilities comes closer to realization.

Being led by award winning leadership and a veteran infrastructure-sector advisory board, ProStar is an aggressive infrastructure play that high growth investors should not ignore.

While the company secures several contracts, it also works on its product development. In late April, ProStar was granted another patent (prepared and prosecuted by Lewis Roca). The patent covers a mobile device that may gather information about digital utility assets, such as location data, more quickly and effectively, reducing the risk of environmental and utility harm when important infrastructure is being built, repaired, or demolished. This patent joins ProStar’s excellent portfolio, which already includes 19+ others.

Stock Information, Share Structure & Financials (TSX-V:MAPS)

As of writing this, (TSX-V:MAPS) is trading at 0.25 per share. 

Just yesterday, the stock had a breakthrough trading day with over 675k share being traded.

The volume looks like to be increasing as more investors realize the opportunity, and it should be an interesting summer for the company.

What makes us excited is that insiders are putting their money where their mouth is and collectively own over 30% of the outstanding shares. This is an overall great sign of belief in their company and shows just how much the management team believes in the vision. Usually, any ownership starting at 15% is already considered great.

For the company’s annual financial statements ending December 31, 2022, the company had $2.2M in cash for no debt. Revenues remained relatively steady between 2021 and 2022, as both years showed $750k. To generate revenue, the company proposes its services through an annual license worth $4,895 that includes cloud services,1 system admin, 1 collector and 1 viewer. Other additional user licenses are available such as a system admin ($2,495), a collector ($1,995), and a viewer ($995). 

ProStar doesn’t forget to invest in product development. Out of the $5M spent during 2022, 22.4% was allocated in these exact places.

Regarding the share structure, 116.8M shares were issued and outstanding. Added to this data, 32.4M warrants at $0.57 and 10.8M options at $0.34 were available for the company.

Recent News & Progress From The Corporate Side Of Prostar

  • 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.”

What We Like About ProStar Holdings (TSXV: MAPS, OTC: MAPPF, FRA: 5D00)

  • The technology prevents downtime, equipment damage, and, worst potential injuries, deaths, and reputation harm
  • ProStar’s technology is deeply needed across the world, as shown by Australian firm Provac using PointMan;
  • The company has several patents protecting its technology, and it added another patent (No. 3,114,919) to its portfolio;
  • 22.4% of its expenses are accounted for product development; 
  • ProsTare already works with Fortune 500 construction companies;
  • Insiders hold 30% of the share structure. 

Where To Find ProStar Holdings & Learn More About The Company

ProStar Holdings trades on the TSXV under the symbol $MAPS, the OTC under the symbol $MAPPF, and the FRA under the symbol $5D00.

You can learn more about $MAPS on their website at: https://www.prostarcorp.com/

We’ve also written a full overview on the company you can see here on HSR: https://hotstocksreview.com/featured/prostar-holdings/

To contact them, you can reach out using the information below: 

Prostar Holdings Inc. 

760 Horizon Drive, Suite 200, Grand Junction, Colorado 81506, USA

Phone: +1 970.242.4024 – Opt. 4

Email: investorrelations@prostarcorp.com


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