2012

APRIL 30, 2012 -  Advanced World Concepts, Inc. (AWC) is pleased to announce that Percipient Software, Inc. (Percipient) has selected AWC's PRA (Property Reserve Analysis) software core engine as the development platform for its Facilities 7 integrated facilities management system.  AWC's complete focus on development of the PRA reserve study software has resulted in a superior product, and the only reserve study software whose calculations and accuracy have been verified by an independent CPA firm. 
Facilities 7 System's focus is establishing integrated facilities maintenance management programs using the PRA reserve study software core engine as the initial method of gathering data for the facilities management system.  
Percipient states, "We selected PRA as our development platform because it is the only sophisticated Internet based reserve study software in existence.  Integration of PRA as a basic component of Facilities 7 allows us to move forward with confidence to more quickly complete development of the other modules of the Facilities 7 System."   
The sharing of a common technology platform by two long time industry veterans with a combination of their users has created the industry's largest group of reserve study software users operating on a single platform.  Facilities 7 will be adding a number of features and reports to the current version of the PRA software core engine.  The use of a common platform also allows Percipient to offer its enhancements and additional modules to existing PRA users.
For more information on Facilities 7 contact Facilities Advisors, Inc., the exclusive distributor of Facilities 7 software at (877) 304-6700.  Facilities Advisors, Inc. is a reserve study preparation company with offices nationwide.
For more information on the PRA system, please contact us directly at (858) 755-8877.

February 7, 2012 – Advanced World Concepts, Inc. updates www.prasystem.com web site. The web site has been reorganized for easier access for blogs and articles. “PRA Blog/Articles” is now on the top menu bar where are articles can be accessed and commented on. The “News” (Recent News Timeline) button has been moved to the top of the page menu bar. A Google map has been added which reflects “PRA System Reserve Study/RMP (Reserve Management Plan) Consultants with all their pertinent contact information. Recent articles have been added to the PRA Blog/Articles:  “Beyond the Reserve Study… Reserve Study vs. Reserve Management Plan” and “Reserve Funds: Found Money…Or what’s been hiding in our Reserve Funds?”

january 17, 2012 - Advanced World Concepts, Inc. initiates Constant Contact software for communicating with the PRA System User Group and for marketing and promotion. Constant Contact was implemented for easy notifications on updates on the PRA System when new features, reports, etc. are available.

2011

november 1, 2011 – Advanced World Concepts, Inc. announces that it will be exhibiting at the annual ARDA Conference in Las Vegas, April 2^nd through April 5^th. Bill Chaffee, RRP renews ARDA Chairman League membersip for 2012.

october 1, 2011 – Advanced World Concepts, Inc.  signs consulting agreement with Pete Suarez as Director of Sales. Pete has been associated with Advanced World Concepts, Inc. since its inception in 1989. Pete has a very diversified background which includes: entrepreneurship, being in a position of management and training, multiple language programmer (completely knowledgeable of the development and programming of the PRA System and first line of backup to the Director of Development), technical writer, and sales.

Pete has a Bachelor of Arts degree in Business Management and is fluent in Spanish. With the release AWC's first foreign language version of the PRA System, Pete will be integral in introducing the PRA System Spanish version to the Latin American market.

August 12, 2011 - Advanced World Concepts, Inc. (AWC) released a new PRA module today that decreases the amount of data entry by 80% while entering multiple reserve items simultaneously. The new Master List Selection module allows the selection of multiple reserve items by <clicking> check boxes from a Master List (with notes included) into a property. Beta testing provided the following results: 55 common area-logistic reserve items entered along with adjusting when the reserve items would be replaced or maintained, was achieved in 30 minutes. 

August 4, 2011 – Advanced World Concepts, Inc. (AWC), developers of the Property Reserve Analysis (PRA) System – reserve management software for timeshare resorts - has announced software licensing agreements with Club Meliá, Breckenridge Grand Vacations and the Christie Lodge.

Explained AWC founder and industry pioneer Bill Chaffee, RRP, “The PRA System (www.prasystem.com ) will enable these developers and resorts to quickly and efficiently track reserve items, develop budgets, and projections for their associations as well as support for reserve fund investments. While utilizing this system, a property can be setup, data entered and a report produced in hours or days instead or weeks or months, providing all the necessary reports to enable the Board of Directors and management to make informed decisions.”

Club Meliá (formerly Sol Meliá Vacation Club), has licensed the PRA software for their 18 properties in Panama, Mexico, the Dominican Republic, Puerto Rico, the Canary Islands and mainland Spain. “We found that the PRA System lived up to everything that was advertised while being extremely user-friendly,” says David Aparicio, Controller for Club Meliá, which is an affiliate of the Gran Meliá hotel chain with over 300 resorts globally.

Breckenridge Grand Vacations recently licensed PRA for their eight owner associations, as well as the Christie Lodge in Avon, Colorado. Island One Resorts in Florida and Welk Resorts used the DOS version since the early 90s and were converted to the Internet version in 2007. Today, over 50 individual timeshare resorts utilize the PRA system. FARROW Commercial (www.farrowcommercial.com) has produced more than 40 reserve management reports in the past year utilizing PRA.

Chaffee designed the first reserve study software more than two decades ago in 1989 to support individuals, associations, and property management and reserve study companies. Properly crafted plans ensure that reserve funds are available when needed for long-term maintenance, refurbishment or replacement of reserve items in common-interest-development properties. PRA is the only reserve management software which has been CPA evaluated for logic and accurate calculations.

PRA licensees receive round-the-clock support and are thoroughly trained in using the system, which simplifies financial analyses and processes while guiding the user to a desired solution without the need of software or accounting knowledge. An employee can be taught to use the system in about two hours, while a property’s complete plan can be produced in hours or days.

Says Chaffee, “We are proud that our latest version is setting new standards for reserve study software and for the preparation of reserve management plans. Unfortunately, the industry is not keeping pace with properly maintaining resorts due to the economy, increasing unpaid maintenance fees or boards that try to keep fees low by not funding reserves. This can have a huge domino effect on the entire industry. These are dangerous decisions which can have a negative impact on the resort’s exchange company ratings as well as its future financial health,” added Chaffee. “But if you systematically fund your reserves, this will not happen.”

To learn more about the PRA System, contact Bill Chaffee at (858) 755-8877 or email him at bill.chaffee@prasystem.com

July 26, 2011 – Advanced World Concepts, Inc. (AWC) announces an “on-going concern” agreement with Pete Suarez (Suarez), Independent Consultant. The agreement assures if all the current principals of AWC were no longer able to perform that Suarez would take over the operations of AWC. He is adept in all aspects of AWC’s business operations. His initial responsibility would be to assure the continued operations of AWC while finding the proper replacements of the existing principals. “This agreement with Suarez will assure no disruptions in the service and support of the on-going business of AWC into the future.”, says Bill Chaffee, Founder and President of AWC.

JUN 20, 2011 – Advanced World Concepts, Inc. launches new web site for PRA – www.prasystem.com .

JUN 1, 2011 - Advanced World Concepts, Inc. and the PRA System renew membership with CAI (Community Association Institute – www.caionline.org ) for the year 2011.

MAY 9, 2011 - Bill Chaffee, RRP, President of Advanced World Concepts, Inc., travels to Puerto Rico for meetings and training with David Aparicio, Financial Controller for Club Meliá (formerly Sol Meliá Vacation Club). Club Meliá has 18 locations from Mexico to Spain and is part of the Gran Meliá hotel chain with over 300 resorts globally.

APR 1, 2011 – Bill Chaffee, RRP, President of Advanced World Concepts, Inc., visits Island One Resorts and GAB Robins offices for in depth in house training and brainstorming. “It is always good to visit PRA users directly and listen to their needs and wants”, says Bill.

MAR 27, 2011 – Bill Chaffee, RRP, President of Advanced World Concepts, Inc., attends ARDA 2011 Convention and Exposition at the Orlando Center Marriott Resort. “As usual ARDA puts on a great conference and it is always good to catch up with the industry experts”, reports Bill.

JAN 25, 2011 - Advanced World Concepts, Inc. and the PRA System renew membership with CACM (California Association for Community Managers – www.cacm.org ) for the year 2011.

JAN 15, 2011 – Advanced World Concepts, Inc. and the PRA System renew membership with APRA (Association of Professional Reserve Analysts – www.apra-usa.com ) for the year 2011.

2010

Nov 10, 2010 — AWC (Advanced World Concepts, Inc.) announced that GAB Robins North America has licensed the PRA System for their Florida operation that performs reserve studies. Bruce D. Riemann, Senior Manager of GAB Robins, "We are very excited about utilizing the PRA System and we are projecting do over 1,000 reserve studies in 2011."

Oct 1, 2010 — AWC (Advanced World Concepts, Inc.), the originator of the PRA System, President and Chief Executive Officer, Bill Chaffee, RRP joins ARDA’s, arda.org, prestigious Chairman League.

Sept 15, 2010 — AWC (Advanced World Concepts, Inc.) announced that staff will be attending the National ARDA, arda.org, fall conference at the Fairmont Hotel in Washington, D.C

Sept 15, 2010 — Mike Graves, RS, announced that SCT Reserve Consultants, sctreserve.com, is projected to do over 650 studies for 2010. Mike Graves, RS is a PRA Consultant and has been using the PRA System since 1993.

Sept 8, 2010 — Bill Chaffee, President and Chief Operations Officer of AWC (Advanced World Concepts, Inc.) , is happy to announce that Breckenridge Grand Vacations, www.breckenridgegrandvacations.com, has selected the PRA System for their reserve management needs.

Sept 1, 2010 — Farrow Commercial, Inc., a licensed PRA Consultant, has been retained by:(20 properties)

Sept 1, 2010 — Management & Operations Magazine published an article written by Bill Chaffee, RRP, President and Chief Operations Officer of AWC (Advanced World Concepts, Inc.), entitled, “Reserve Studies: Different for Vacation Ownership Properties”.
www.prasystem.com/news-resources/industry-resources/articles/reserve-studies-different-for-vacation-ownership.aspx

Aug 8, 2010 — AWC (Advanced World Concepts, Inc.) has selected Inet Services, LLC (IS), www.inetservices.com, for hosting the PRA System server requirements. IS is located in Natick, Massachusetts. IS operations and servers are SAS 70 Type I & II Certified by the American Institute of Certified Public Accountants (AICPA).

Jul 26, 2010 — Bill Chaffee, RRP, President and Chief Operations Officer of AWC (Advanced World Concepts, Inc.), attended the ARDA Regional Meeting in Tucson, Arizona.

Jul 8, 2010 — The United States Patent and Trademark Office re-issued to AWC (Advanced World Concepts, Inc.) the trademark “PRA System”, serial number 77856658.

Jun 1, 2010 — Marge Lennon, Lennon Communications Group, Inc., lennoncommunications.com, wrote an article, “Veteran Timeshare Professional Creates Premier Web-Based Reserves Management Software” based on the PRA System and Bill Chaffee, President and Chief Operations Officer of AWC (Advanced World Concepts, Inc.).

Jun 1, 2010 — Bill Chaffee, President and Chief Operations Officer of AWC (Advanced World Concepts, Inc.), wrote an article ARDA’s Development magazine, “Reserve Management: Simplify the Plan”.
www.prasystem.com/NewsUpdates/Articles/ArticleReserveManagementSimplifythePlan/tabid/153/Default.aspx

Apr 28, 2010 — AWC’s (Advanced World Concepts, Inc.) staff attended and exhibited at the National CAI, www.caionline.org<, Conference at Caesars Palace. A Samsung High Definition video camera was raffled and won by Elite Management.

Mar 15, 2010 — National Condo Inspections, Inc., nationalcondoinspections.com, a subsidiary for National Condo Advisors, Inc., nationalcondoadvisors.com, has licensed the PRA System for their reserve reporting production.

Mar 1, 2010 — AWC’s (Advanced World Concepts, Inc.) staff attended and exhibited at the National ARDA, arad.org, Conference at the Venetian Resort Hotel, Las Vegas, Nevada. This was the first exhibiting of the new Internet based PRA System.

2009

Nov 16, 2009 — AWC (Advanced World Concepts, Inc.) has received an Independent Accountants’ Report from the Certified Public Accounting firm Haskell & White, LLP. Haskell & White, LLP was engaged to perform a Quality Assurance Evaluation of the PRA (Property Reserve Analysis) System verifying the logic, functionality, accuracy and for reporting compliance of the American Institute of Certified Public Accountants’ Audit and Accounting Guide for Common Interest Realty Associations and IRS guidelines.

The results of the Quality Assurance Evaluation were that the PRA System’s functionality, concept and logic, data input and output are operating in the manner intended and that no exceptions were found as a result of the attestation procedures.

Oct 13, 2009 — AWC (Advanced World Concepts, Inc.) announced exhibiting the PRA (Property Reserve Analysis) System at the CAI’s (Community Association Institute) 59^th National Conference & Exposition, April 28 through May 1, 2010, at the Caesar’s Palace Hotel Casino, Las Vegas, Nevada. PRA System presentations will be presented at Booth 415.

Oct 13, 2009 — AWC (Advanced World Concepts, Inc.) announced exhibiting the PRA (Property Reserve Analysis) System at the ARDA (American Resort Development Association) 2010 Spring conference, March 14 through March 18, 2010, at the Venetian Resort Hotel Casino, Las Vegas, Nevada. PRA System presentations will be presented at Booth 656.

Aug 24, 2009– AWC (Advanced World Concepts, Inc.), due to the complexities of the PRA (Property Reserve Analysis) System, AWC engaged the Certified Public Accounting firm, Haskell & White, LLP, to perform a Quality Assurance Evaluation of the PRA System. Haskell & White, LLP will perform procedures conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and will issue an Independent Accountants’ Report on its findings.

July 30, 2009 — AWC (Advanced World Concepts, Inc.) attended the 18^th CACM (California Association of Community Managers) Annual Vision Awards at the Statewide Expo & Conference at the Disneyland Hotel, July 30, 09. AWC was a $2,500 Silver Sponsor of the Vision Awards Dinner.

Jun 1, 2009– AWC (Advanced World Concepts, Inc.) announced the launch of their new Web site (www.prasystem.com) for information, promotion and licensing of the PRA (Property Reserve Analysis) System. The PRA System is designed to support individuals, HOA/POAs, timeshare/vacation ownership and reserve preparers to prepare reserve plans/studies to assure that reserve funds would be available when needed for the long-term maintenance, refurbishment or replacement of reserve items in their properties.

Jun 1, 2009 — AWC (Advanced World Concepts, Inc.) announced the release of the next generation PRA (Property Reserve Analysis) System. The new system has been over four years in development and is the first Web based system of its type. It delivers unique navigation in a desktop environment with new tracking methods, analysis tools and reports setting a new standard for reserve management.

The original PRA System was designed to support individuals, HOA/POAs and timeshare/vacation ownership to prepare reserve plans/studies to assure that reserve funds would be available when needed for the long-term maintenance, refurbishment or replacement of reserve items in their properties.

May 5, 2009 — AWC (Advanced World Concepts, Inc.) engages Blue Jay Technologies for the development of a Web site for information, promotion and licensing of the PRA (Property Reserve Analysis) System. The anticipated release date is June 1, 2009 along with next generation of the PRA System.

Feb 1, 2009 — AWC (Advanced World Concepts, Inc.) announces that the original DOS PRA (Property Reserve Analysis) System released in the 1989 is being converted and updated to a Windows Web based system. Existing DOS PRA users are participating in the development and beta testing process. The anticipated release date for new users is June 1, 2009