Power Americas Resource Group CEO Mark Croskery Releases Open Letter to Shareholders
Company Sets Goals and Expectations for 2023 and Beyond
MIRAMAR, FL, Jan. 10, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Power Americas Resource Group Ltd. (OTC: PARG) (the “Company” or “PARG”), a publicly traded, fully reporting emerging growth company commercializing its Digital Twin technology “Twin Infra” for the international construction industry, is pleased to provide an open letter to shareholders from its Chief Executive Officer, Mark Croskery.
As 2023 arrives we are filled with optimism and hope, passion and purpose. The long and parallel roads we have traveled separately thus far as a management team are now synergistically aligned as we seek a prosperous new tomorrow for Power Americas Resource Group and its valued shareholders. And as I write this, we are preparing our first quarterly report since the acquisition which for me is a benchmark for how far we’ve come so quickly.
Please grant me a moment to share with you some of our goals for the calendar year and beyond.
But first allow me to give you a brief explanation of our technology and how we see the opportunity. We know new eyes come to our story all the time and a plain-spoken reminder of Digital Twin technology is probably apropos.
Our Company, our future really, is built upon the awesome potential of Digital Twin technology. Digital Twin is a digital representation of a physical object, process, or service. A Digital Twin is typically a digital replica of an object or project in the physical world, which can range from a simple motor to enormous construction projects. By using Digital Twin technology, engineers, architects, and more can virtually replicate processes or performance to collect data to predict how the physical project will perform.
Our proprietary Digital Twin offering is “Twin Infra,” a complete IT solution for the massive Construction/Infrastructure industry.
Twin Infra is a peek into the future- much more than a picture- that lets you make changes today. I like to tell my friends when explaining Digital Twin that it would be like heading into a sportsbook to place a bet on a game and having someone call and tell you what the score was going to be before you placed your bet in full.
What would you do differently and how valuable would that knowledge beforehand be in savings, safety, and optimization?
That knowledge is Twin Infra.
To achieve our goals as a commercial entity and a public company we are ever mindful of the requisite leadership, transparency, and accountability. To that end, we are currently in the process of securing two Independent Directors for the Company’s board.
Our goal is to add wonderful minds who increase our wealth of human talent and who set firm expectations for performance and integrity. We will share with you these appointments as soon as they are completed.
Along those lines it is our intention, when qualified, to seek a listing on a senior exchange, most likely the OTCQB tier at OTC Markets at the earliest opportunity. It is our belief that such a listing would bring credibility and likely enhanced liquidity for the Company’s shares. We also believe that an OTCQB listing is more appropriate given the stature of our technology and management team.
Again, we intend to be timely in our communication about such an effort as progress occurs or should hurdles arise.
We firmly believe all these growth items are essential for the Company to fully exploit what we see as a once-in-a-lifetime opportunity. There is one industry that has weathered all the turmoil of recession, pandemic, and other financial disruptions for centuries and is truly evergreen. In fact, this industry has been fuelling and feeding the economy in times of need and has provided the largest job base for all strata of communities.
Yes, we are talking about the construction and infrastructure industry which keeps growing alongside demands of the ever-growing population. According to a report by Statista Research the market size of the U.S. construction sector alone was valued at around 1.6 trillion U.S. dollars in 2021 and it was expected to increase further in the next year.
This affirms for us our direction, our intentions, our plan.
Now we need to execute, taking the important steps along the way and keeping you apprised of our challenges and accomplishments along the way.
Chief Executive Officer
Power Americas Resource Group Ltd.
Power Americas Resource Group Ltd. (PARG) is the owner of various proprietary assets and intellectual property collectively known as “Twin Infra”. Twin Infra is a complete IT -- SaaS solution for the Construction/Infrastructure industry based on the concept of “Digital Twin”. A Digital Twin is a virtual representation of an object or system that spans its lifecycle from concept to retirement. It is manifested as an Analytical/Digital or 3D Model and is updated from real time-data captured by people or Systems, that is fed by people, systems, equipment, or sensors to help in streamlining, decision making and optimization of the construction, management, or maintenance processes. The Twin Infra module is an integrated SaaS based cloud platform to manage data models, people, process, and assets throughout the lifecycle of a construction project. The Twin Infra module has project management, process management, design data management and predictive analytic features to anticipate and forecast in all the stages of Construction/Infra from Design to Handover and maintenance. It works on public, private, and virtual cloud infrastructure and uses Artificial Intelligence for operational insights and efficiency.
SAFE HARBOR FORWARD LOOKING STATEMENTS:
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected revenue, contracts, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC) and on the OTC Disclosure & News Service (OTCDNS). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC and/or OTCDNS. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and secure construction contracts and the necessary assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC and/or OTCDNS filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business in the construction industry may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.
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