DALLAS, TX / ACCESSWIRE / May 26, 2022 / ProStar Holdings Inc. (OTCQX:MAPPF): The full report can be accessed by clicking on the following link: http://stonegateinc.com/reports/MAPPF Initiation.pdf

COMPANY DESCRIPTION

ProStar® Holdings Inc is emerging as a leading developer of patented mapping software. The Company enables Fortune 500 companies in construction, utilities, railways, engineering, and surveying firms to ensure employee, public, and environment safety, by avoiding accidental damage to underground utility assets. The Company's flagship product is PointMan®, a patented cloud and mobile mapping software application that allows capture and access to the critical surface and subsurface infrastructure. The product portfolio also includes PointMan® Plus and PointMan® Pro, enabling organizations to manage their critical infrastructure more efficiently.
The Company is headquartered in Grand Junction, Colorado.

SUMMARY

• Patented mapping software - The Company's precision mapping solutions deliver the underground location with 1 cm accuracy of critical utility and infrastructure data that can prevent damage to critical underground infrastructure from accidental damage during construction projects. The technology enables precision and quality and can be seamlessly integrated with receivers and pipe locators like Trimble, Juniper, Emlid, RadioDetection, and Vivax.

• Robust intellectual property rights portfolio - The Company is building a solid patent portfolio with 21 patents issued so far in the U.S and Canada that cover essential aspects of the technology such as system and method for integration, methods of collection, and calculation of geographical data, utility assets, digital identification, capture, mapping, and visualization of underground utilities.

• Significant market opportunity - The passing of the $1.2 trillion Infrastructure Investment and Jobs Act is likely to provide the impetus for growth in the construction industry. As per the September 2019 DIRT report, nearly 500,000 accidental strikes on critical sub-surface infrastructure like optic cables cost the economy over $30 billion in damages and repairs. ProStar® is positioned to capitalize on the rising opportunities in the construction sector.

• Growing customer base - ProStar®'s marquee customers include one of the largest US infrastructure construction firms in the US and the Colorado Department of Transportation, which mandated the use of ProStar®'s™ PointMan® software effective January 14, 2021. Other prominent customers include Kokosing, Grinnell College, New Hampton Municipality, Tulsa Zoo, and Township of Aberdeen, among other municipalities and utilities. The Company's growing customer base is testimony to its potential and validation of its technology. Furthermore, the Company believes that its recent adoption by major companies in multiple verticals, and a significant increase in sales and marketing activity indicate that the Company may be close to an inflection point.

• Strategic industry partnerships - ProStar® has partnered with Trimble Inc. (TRMB) to create and develop specific workflows to address the need of Trimble customers and dealers. The partnership will see Trimble's technology, such as GNSS receivers, ruggedized handhelds, or software-based features integrated integration tools. PointMan® runs natively on AWS (Amazon Web Services), leveraging its systems and operational capabilities.

• Valuation - We use a comparative analysis to frame valuation. Using an EV/Sales range of 2.0x to 4.0x with a midpoint of 3.0x, on the Company's F24 revenue projection, we arrive at our valuation range of US$0.25 to US$0.45 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.

CONTACT:

Stonegate Capital Partners
info@stonegateinc.com
(214) 987-4121

SOURCE: Stonegate Capital Partners

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