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- ProStar Holdings Inc ("ProStar®" or the "Company") (TSXV:MAPS) (FSE:5D00), a world leader in Precision Mapping Solutions®, and developer of the PointMan® mobile and cloud solution, announced today that it has successfully completed a Service Organization Control (SOC 2 Type 2) examination for ProStar. The audit found that ProStar meets the SOC 2 Type 2 standards for Security and Availability Trust Services Principles with zero exceptions listed. This is the third consecutive year that ProStar has received this SOC 2 Type 2 certification.
SOC 2 Type 2 reports are attestation reports that examine controls at a service organization relevant to the security, availability, or processing integrity of a system (security, availability, and/or processing integrity principles) or the confidentiality or privacy of the information processed for the user entities (confidentiality or privacy principles). SOC 2 Type 2 reports demonstrate a company's ability to not only implement critical security policies but also prove compliance over an extended period of time. This is critical for the management of sensitive data including, the location type and condition of infrastructure both above and below the earth's surface.
"This speaks volumes to the standards and protocols we have implemented in order to achieve this level of certification. Our clients span from Fortune 500 companies to multi-national fiber optic companies, to government entities, for which data security is a priority, " said ProStar CEO and Founder Page Tucker . " This level of certification not only instills confidence to our clients in our ability to protect their data, it also sets the foundation to attain data security certification for other countries as well as address data sovereignty requirements."
About ProStar (TSXV:MAPS) (FSE:5D00)
ProStar is a Software as a Service (SaaS) company that aids infrastructure and construction companies by providing them with the ability to capture, record, and display the precise location of critical infrastructure such as buried utilities and pipelines; this is all accomplished in real-time through ProStar's patented geospatial intelligence software. The Company offers three products, PointMan Plus, PointMan Pro, and PointMan Enterprise, all of which are designed to improve the business operations of any industry that requires knowledge of the precise location of sub-surface infrastructure. By providing real-time access to precise location information, ProStar's solution significantly decreases liabilities and increases productivity during construction and maintenance activities. Current industry practice utilizes paper documents or onsite inspection with a magnetic locate tool and paint or flag markings, both of which have proven inaccurate. With over 35M miles of underground utilities in the US, there have been over half a million utility strikes annually during excavation which have resulted in damaged infrastructure.
ProStar has strategic business partnerships with the world's leading geospatial technology providers, data collection equipment manufacturers and their dealer networks, including Trimble®, Juniper ® Systems, Bad Elf, Vivax-Metrotech, Radiodetection ®, and Subsite ® Electronics.
The Company has made a significant investment in creating a vast intellectual property portfolio that includes 19 issued patents in the United States and Canada , with more pending. 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. The leadership team includes Vasa Dasan, former CTO of Sun Microsystems, Carl Lashua , previous Chief Information Officer of HSBC Canada and Europe , and Matthew Breman , prior Executive for Disney.
For more information about ProStar, please visit: www.prostarcorp.com .
Alex Moore
Investor Relations Support
investorrelations@prostarcorp.com
970-242-4024
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts 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 Information Circular filed on SEDAR on November 20, 2020 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 .
The forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE ProStar Corp
