Explorations Group Inc.         OTCBB:  EXGI 
 

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EXGI

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Parking Pro, Inc.

1369 Madison Avenue, Suite 432

New York, NY 10128


Main:  212.722.4424
Fax:    212.722.4218

Email: investorinfo@parkproinc.com

Website: http://www.parkproinc.com

 

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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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