Stonegate Capital Partners Updates Its Coverage on ProStar

Stonegate Capital Partners Updates Its Coverage on ProStar

Stonegate Capital Partners Updates Its Coverage on ProStar Holdings Inc. (MAPS)

November 21, 2022

TSX Venture Exchange

Trading Symbol: MAPS

OTCQX

Trading Symbol: MAPPF

DALLAS, TX — November 21th, 2022 — ProStar Holdings Inc. (TSXV:MAPS): Stonegate Capital Partners updates coverage on ProStar Holdings Inc. (TSXV:MAPS). Read the full report below or by clicking on the following link: https://stonegateinc.com/reports/MAPP_22Q3.pdf
COMPANY DESCRIPTION
ProStar® Holdings Inc is a digital mapping company that offers survey grade measurements in the field on a mobile phone/device. The Company enables Fortune 500 companies in construction, utilities, railways, engineering, and surveying firms to map out their underground (and above ground) assets with the goal of eliminating utility strikes (i.e. avoiding accidental damage to underground utility assets). The flagship product is PointMan®, a patented cloud and mobile data management system that saves customers costs, increases productivity, and leaves them with an asset: a survey grade digital map of assets below surface. Prostar is headquartered in Grand Junction, CO.

SUMMARY

  • Patented mapping software – The Company’s precision mapping solutions deliver the underground location with 1 cm accuracy of critical utility and infrastructure data. This pevents damage to critical underground infrastructure from accidental damage during construction and maintenance. The technology enables up to 1 cm accuracy and is seamlessly integrated with receivers and pipe locators including Trimble, 3M, Juniper, Bad Elf, Emlid, RadioDetection, and Vivax.
  • Addition of key contributors – in 3Q22 MAPP.F added a key member to their executive team in Matt Dragon. As a professional Matt has a 20-year track record of technical sales experience, which will be leveraged to recruit, coach, and grow the sales team in order to drive revenue. Most importantly, this is a strong signal from ProStar that they are seeing increasing demand for their products and have reached a point where they are ready for a more deliberate go to market strategy. The timing of this hire corelates with the expected growth seen on page 4.
  • Significant market opportunity – The passing of the $1.2 trillion Infrastructure Investment and Jobs Act is likely to provide an impetus for growth in the construction industry for years to come. Per the September 2019 DIRT report, nearly 500,000 accidental strikes on critical sub-surface infrastructure like fiber optic cables cost the economy over $61 billion annually in damages and repairs. ProStar is positioned as a first mover to capitalize on opportunities in the construction, engineering, and O&G segments, as well as with regulators.
  • Growing customer base – ProStar’s marquee customers include Colorado Department of Transportation, which mandated the use of ProStar’s™ PointMan software effective January 14, 2021. Prominent customers include Kiewit, Colorado DOT, T2, Water Works, Landmark, Utility Mapping, Kokosing, KCI, Scout Energy, Compass Data, HKS, and numerous others with more to come as the company’s sales force matures.
  • Regulatory greenshoots become visible – The American Society of Civil Engineers published ASCE 38-22 which effectively says that surveyed paint marks are no longer acceptable as survey grade data. This paper was worked on for 3 years before being published in July and it outlines the guidelines for legislators to adopt, with the goal of minimizing utility strikes to zero over the coming years. PointMan provides survey grade measurements in the field on a mobile phone—which severely disrupts the existing manual workflow. Ultimately, local, state, and federal legislatures are expected to enact legislation similar to Colorado that mandates survey grade measurements on a digital platform.
  • What’s next? Expect another state DOT to sign up in the next 12 months, significant expansion of the customer base, including entry into the mining vertical, and more visibility of the product as PointMan gets adopted as the solution to map out infrastructure. It is logical for electromagnetic wand manufacturers to partner with Pointman. There could also be potential for a licensing deal with one of the numerous companies that could benefit from the use of Prostar’s patents.
  • Valuation – We use a comparative analysis to frame valuation. Using an EV/Sales range of 2.5x to 4.5x with a midpoint of 3.5x, on the Company’s F24 revenue projection, we arrive at our valuation range of US$0.26 to US$0.44 with a mid-point of US$0.35.
About Stonegate Capital Partners
Stonegate Capital Partners is a Dallas-based corporate advisory firm dedicated to serving the specialized needs of small-cap public companies. Since our inception, our mission has been to find innovative, undervalued public companies for our network of leading institutional investors who seek high-quality investment opportunities.

Read the Article at MARKETWATCH.

HKS Utility Services Adopts PointMan to Enhance and Expand Their Subsurface Utility Engineering Services

HKS Utility Services Adopts PointMan to Enhance and Expand Their Subsurface Utility Engineering Services

HKS Utility Services Adopts PointMan to Enhance and Expand Their Subsurface Utility Engineering Services

November 3, 2022

TSX Venture Exchange

Trading Symbol: MAPS

OTCQX

Trading Symbol: MAPPF

GRAND JUNCTION, Colo., Nov. 03, 2022 (GLOBE NEWSWIRE) — ProStar Holdings Inc. (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions®, is pleased to announce that HKS Utility Services (“HKS”) has adopted ProStar’s flagship solution, PointMan, to enhance their Subsurface Utility Engineering services.

“I have been in the business of surveying and mapping buried utilities for over 25 years, and it is evident that this industry is going to go through a digital transformation much like the healthcare industry did a few years ago. We are quickly moving away from what has predominately been inaccurate paperbased maps to more precise geospatial solutions,” stated Jerry Pugsley, Sue Manager HKS. “We pride ourselves on being an industry leader and providing world class subsurface utility engineering services. By adopting PointMan, we will continue to be a recognized leader and play a critical role in transforming the utility industry into the digital era.”

HKS Utility Services is a subsidiary of Harris Kocher Smith, a Denver-based consulting firm providing civil engineering and land surveying services. HKS Utility Services is a leading provider of Subsurface Utility Engineering (SUE) services, including utility designation, test holes, and other field-related SUE services.

Years ago, it was evident to me that the utility and pipeline industry would have to evolve from hand-drawn paper-based maps to a far more accurate and efficient method for managing and maintaining what is our nation’s vast network of underground utilities,” said Page Tucker, CEO of ProStar. “I guess you could say that we saw the writing on the paper, and that is why we developed PointMan. I am very excited about our position, as based on the large number of nationally recognized subsurface utility engineering firms that are adopting PointMan, it is becoming quite evident that we are leading the way in the digital transformation of an entire industry.”

About Harris Kocher Smith

Harris Kocher Smith is a multi-disciplined civil engineering, land surveying, and subsurface utility engineering consulting firm providing comprehensive design services for a diverse group of public and private clients. Their team of creative thinkers and problem-solvers is known for their experience, careful attention to detail, and cost efficiency for their clients. HKS’s services include land surveying, UAV (drone) services, due diligence, master planning, entitlement processing, site engineering, utility engineering, utility coordination, water resource engineering, traffic, and transportation engineering, construction administration, construction staking, and forensic engineering.

For more information about Harris Kocher Smith, please visit www.harriskochersmith.com.

About ProStar:
ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and seamlessly connects the field with the office and provides the ability to precisely capture, record, display, and manage critical infrastructure, including roads, railways, pipelines, and utilities. Some of the largest entities in North America have adopted ProStar’s solutions, including Fortune 500 construction firms, Subsurface Utilities Engineering (SUE) firms, utility owners, and government agencies. ProStar has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and dealer networks.

The Company has made a significant investment in creating a vast intellectual property portfolio that includes 20 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines. ProStar’s Executive management team has extensive experience in the management of both early-stage and Fortune 500 technology companies in the private and public sectors.

For more information about ProStar, please visit www.prostarcorp.com.

On behalf of the Company,
Page Tucker on sales / corporate news releases, CEO and Director

Contact:
Joel Sutherland
Investor Relations
970-822-4792
[email protected]

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR on April 14, 2022, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR at www.sedar.com.

Read the Full Article at TMX.

LMI of Canada Adopts PointMan as Part of Its Certification Program for Professional Utility Locators

LMI of Canada Adopts PointMan as Part of Its Certification Program for Professional Utility Locators

Locate Management Institute of Canada Adopts PointMan as Part of Its Certification Program for Professional Utility Locators

October 20, 2022

TSX Venture Exchange

Trading Symbol: MAPS

OTCQX

Trading Symbol: MAPPF

DRUMHELLER, Alberta, Oct. 20, 2022 (GLOBE NEWSWIRE) — LMI (Locate Management Institute), is pleased to announce that they have adopted ProStar’s (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00) PointMan® mobile mapping software into their underground facility locator training curriculum.

I am very excited to be working with LMI and to have PointMan become a critical part of their training curriculum and certificate program for underground facility locators. Highly trained facility locating professionals leveraging state-of-the-art technologies will be better equipped to enter the workforce and help decrease the rising number of damages and injuries caused by not knowing where underground facilities are located below the ground,” Stated Page Tucker, CEO of ProStar. “This also means that PointMan will be exposed to every company that employs the LMI students, providing great exposure to PointMan in a number of countries.” 

LMI is licensed by DBYD Certification Limited (DCL) and is the only training provider in Canada to deliver and manage the Canadian Certified Locator program to independently assess locator qualifications based on DCL’s Certified Locator program in Australia. LMI educates over 1,000 students annually and provides instruction on underground facility locating best practices. Their training courses are offered in several countries, including Canada, the United States, Australia, and New Zealand.

As a company, we are continually evaluating best practices and industry trends and technologies so that we can prepare our students to be successful when they enter the workforce,” said Donald Richard, Vice-President of LMI. “Recognizing that the underground locating industry is going through a digital transformation, we wanted to be at the forefront in preparing locators on leading-edge utility mapping technologies. By adopting PointMan into our curriculum, we are confident that our students will be better prepared and highly sought after by companies in the underground facility locating industry.

About ProStar:

ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface. For more information, visit prostarcorp.com.

About Locate Management Institute 

LMI is an internationally recognized education, training, and assessment organization.

LMI provides curriculum, online and in-person locator training, including reference manuals that covers a wide range of topics, including locating fundamentals, PROPPER safe digging practices, and advanced locating techniques. LMI provides independent assessments of locators and recognizes locators who have demonstrated a high level of understanding and practical expertise. For more information, please visit, locatemanagement.com.

Donald Richard
Locate Management Institute
Vice President
403.321.7999
www.locatemanagement.com

Read the Full Article at GLOBAL NEWS WIRE.

Alpha Wolf Trading Features Director of Sales Matt Dragon, ProStar

Alpha Wolf Trading Features Director of Sales Matt Dragon, ProStar

AWT Pro member Exclusive Director of Sales Matt Dragon, ProStar Inc Stock Symbol MAPPF

February 1, 2022

OTCQX

Trading Symbol: MAPPF

TSX Venture Exchange

Trading Symbol: MAPS

In this Alpha Wolf trading interview, you will hear why Matt Dragon has become the Director of Sales at ProStar Inc, Stock symbol MAPPF. You also hear why Matt believes that PointMan will become the ” De Facto standard” for identifying our utility infrastructure with centimeter accuracy, recording, and uploading a digital footprint to the cloud with any mobile device. Our underground infrastructure is responsible for an estimated 30-61 billion costs to this country due to accidental utility strikes. Around five hundred thousand annually, and that number continues to climb. We continue to lay fiber, electricity, and gas to the 35 million miles of utilities we already have buried underground with no clear digital footprint letting us know where they are. This is a MASSIVE problem. Matt is going to help the industry realize that ProStar has the solution. PointMan is not just a bandaid but an enterprise software and viable solution that will change the industry and protect our environment, citizens, and workers for decades to come.

 

ProStar Hires Matthew Dragon as Director of Sales

ProStar Hires Matthew Dragon as Director of Sales

ProStar Hires Matthew Dragon as Director of Sales

September 26, 2022

TSX Venture Exchange

Trading Symbol: MAPS

OTCQX

Trading Symbol: MAPPF

GRAND JUNCTION, Colo., Sept. 26, 2022 (GLOBE NEWSWIRE) — ProStar

Holdings Inc. (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions® is pleased to announce the Company has hired Matthew Dragon as the Company’s Director of Sales and will be responsible for managing sales for ProStar’s patented flagship application PointMan® Mr. Dragon’s responsibilities will be to utilize his extensive experience in sales, marketing, and engineering, to increase ProStar’s market penetration across the United States, Canada and the rest of the world.

“I am very pleased that a credible and seasoned executive like Matthew Dragon has joined the ProStar team,” stated ProStar CEO and founder Page Tucker. “Matthew brings with him a proven track record as well as a wealth of knowledge and experience that I am confident will help us to significantly increase our exposure to the market and drive sales. One of Matthew’s greatest assets is his proven ability to recruit, coach, and grow an organization’s sales team to ultimately drive revenue growth.”

Matthew Dragon has been the vision behind the sales strategy and sales success for several industry equipment manufacturers as well as the largest private utility location company in the United States. Matthew has continually proven his ability to create a sales-focused culture responsible for consistently increasing revenue. His 20-year history in technical sales represents a diverse mix of products and services in the utility damage prevention industry.

“This is the perfect time to join ProStar as we are starting to see a significant change in the industry,” said Matthew Dragon. “More states, construction companies, and utility asset owners are understanding the value of knowing the precise location of buried utilities and, at the same time, are looking for a digitally based solution that drives significant productivity gains. After seeing ProStars transformative solution PointMan, I knew that this was the disruptive technology that would become the de facto standard, and I immediately wanted to be part of the team.”

About ProStar:

ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies.

ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.

ProStar’s PointMan is offered as a Software as a Service (SaaS) and seamlessly connects the field with the office and provides the ability to precisely capture, record, display, and manage critical infrastructure, including roads, railways, pipelines, and utilities. Some of the largest entities in North America have adopted ProStar’s solutions, including Fortune 500 construction firms, Subsurface Utilities Engineering (SUE) firms, utility owners, and government agencies. ProStar has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and dealer networks.

The Company has made a significant investment in creating a vast intellectual property portfolio that includes 21 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines. ProStar’s Executive management team has extensive experience in the management of both early-stage and Fortune 500 technology companies in the private and public sectors.

For more information about ProStar, please visit www.prostarcorp.com.

On behalf of the Company, 

Page Tucker on sales / corporate news releases, CEO and Director

Contact:
Joel Sutherland
Investor Relations
970-822-4792
[email protected]

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR on April 14, 2022, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR at www.sedar.com.

Read the Full Article at YAHOO FINANCE.