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OTCBB
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EXGI
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Current
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$ 0.60 |
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6,426,567 |
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Float
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873,000 |
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Information
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** The Parking Industry is very strong in NY as the space
is limited
** If with just 3 locations, Parking Pro grew its
revenues over 100%, than with anticipated 40 locations
within 2 years,-- will grow the company into double digit
growth sequentially quarter over quarter. ** Parking Pro has achieved profitability during the past
6 months on an unaudited unreviewed basis
** Revenues are up 104%
over the last quarter to $641,000 from $314,000
** Direct Parking
Services increased 75%
** Revenue from
management contracts and license fees, which posted quarter
to quarter gains in excess of 100%
** Our goal to have
roughly 40 locations under management in addition to revenue
generating relationships with third-party vendors
About Parking Pro
Parking Pro and/or affiliates thereto, are operators of
public parking facilities in the New York Metropolitan area
under leases and management contracts covering parking
facilities owned by non-affiliated property owners. Leases
generally are for three- to twenty-year terms. Management
contracts generally provide for a fixed fee plus fees for
ancillary services and, in general, are cancelable by the
property owner on short notice. Parking Pro intends to
increase revenues and improve profitability with existing
leases and management contracts and expand its business by
acquiring additional parking facility operations and
management contracts. For more information please go to the
Company's website at http://www.parkproinc.com.

PHILOSOPHY
To operate a parking and transportation management company
dedicated to integrity, growth, professionalism, value,
leadership and providing quality service to customers and
clients.

GOALS
It is our goal to expand the company to over 40 facilities
over the next year we have been speaking with several small
operators to acquire there locations either under mgmt
contracts, leases agreements or purchase agreements. In
addition we are speaking with a several valet parking
companies in the New York and Florida areas.
We can provide the following services:
1- Consulting services
2- Management services
3- Valet Parking
4- Self parking
5- Online / fax payment service
6- Hospital Parking
7- Hotel Parking
We maximize our locations by getting the highest and best
use whether operating the locations by Parking Pro or
subletting to a higher and better user for the property that
we have. Our goal is to make the most profit for our
shareholders.
To provide quality service to our customers and clients.
To Be safe, courteous, professionalism and reliable.
To operate a company dedicated to integrity, growth and
leadership.

About Us
From the outside, parking may appear to be a simple
business: a car parks in your space and the owner pays for
it. In fact, this is a complex business that requires
specialized knowledge and wide-range expertise. Virtually
90% of North America's commercial parking spaces are managed
by professional parking firms. We're one of the best in the
business, providing a total turnkey service as a complete
analysis of your facility and how it can be operated to
generate maximum returns.

We do through study of
each property and provide an in-depth business plan
outlining specific steps to maximize service and improve net
revenues. This includes a competitive rate survey and
customer mix profile, as well as a review of signage,
layout, equipment, lighting. security audit procedures and
marketing programs. in the end, we have a step-by-step
roadmap for improving your profits.
Locations
1508 Lexington Avenue
New York, NY 10128
300 Schermerhorn Street
Brooklyn, NY 11201
359 Schermerhorn Street
Brooklyn, NY 11201
1625 Surf Avenue
Broklyn, NY 11223

Parking Industry
The International Parking Institute, a trade organization of
parking professionals, estimates that as of December 2002
(the latest year for which numbers are available) there were
approximately 40,000 parking facilities in the United States
generating over $29.0 billion in gross customer collections.
Industry participants, the vast majority of which are
privately held companies, consist of relatively few
nationwide companies and hundreds of small regional or local
operators, including a substantial number of companies that
provide parking as an ancillary service in connection with
property management or ownership.
According to Colliers International's fourth annual North
America Parking Rate Survey, parking garages are feeling the
effects of an improving economy. In response to market
conditions, monthly parking rates in all categories rose as
businesses responded to a healthier business climate and
rising employment rates. The survey, which reports on
reserved, unreserved and daily parking rates, found that the
average unreserved monthly rates across North America
increased 3.5% from a year ago, while daily rates dipped
0.9%. (Source: Wall Street Journal – The Property Report,
7/21/04)
Only
three of the seventeen parking facilities operated by
affiliates of Parking Pro were included in this Agreement
the others are currently run as independent entities owned
by Parking Pro affiliates. It is the company's intent
between now and April 2005 to integrate such properties
into the Parking Pro portfolio provided certain financial
criteria are met as noted above.
Brown
continued, Over the years, the parking industry has
undergone a period of rapid consolidation and today,
remains highly fragmented with only a few nationwide
operators. The New York market in particular is comprised
of only a handful of large players and is mostly dominated
by smaller, niche operators, most of whom lack the
resources to effectively compete for new contracts. While
we currently operate only a small number of facilities,
our company is growing rapidly in a profitable manner and
most importantly, were established a strong brand and
credible reputation among our customers, partners and
industry peers.
As
reported in the company's Form 8-K/A filed on August 27,
2004, revenues are up 4% quarter to quarter to $327,000
from $314,000, an increase of approximately 4% over the
$314,000 reported for the previous March 31,2004 quarter.
Fueling this growth were increases in revenues related to
direct parking services, which increased 75% and revenue
from management contracts and license fees, which posted
quarter to quarter gains in excess of 100%. Expenses
increased from $222,200 to $434,900, though as a
percentage of revenues, decreased by approximately 6%.
Un-audited net income for the six-months ended June 30,
2004 was $206,100 as compared to un-audited net income of
$91,800 for the three-months ended March 31, 2004, an
increase of almost 125% quarter to quarter.
Brown
concluded, It is our intent to further integrate
previously acquired properties and to look for new
opportunities to extend our reach both in and outside of
the New York metropolitan market and achieve greater
economies of scale. It is our goal to have roughly 40
locations under management in addition to revenue
generating relationships with third-party vendors and
associates by the end of 05. We believe we have assembled
an experienced management team capable of increasing
shareholder value over the long-term.
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