MobiCard, Inc. Announces
Status on Platform Development and Financial
Filings
CAMBRIDGE, MA -- May 30, 2019
-- InvestorsHub NewsWire -- Peer To Peer Network
aka MobiCard Inc. (MobiCard)
(OTC:
PTOP) CEO Joshua Sodaitis is
pleased to announces the disclose of two important additions to
the Statement of Work (SOW), now under development with Think
Latitude, Inc. The two features, initially slated for
introduction in the next version of the product, will be available
in the initial phase.
The first feature
to be added will provide prospective users of MobiCard a Magic Link
via email to facilitate registration. This will simplify the
signup process for users adopting MobiCard technology; allowing
them to sign up one time within the platform and create a dynamic
(Magic) link by entering a username, password and email
address. A Magic Link is then sent to the user's email where
a simple click will confirm their registration. This is a single
sign-on link that will allow the user to be logged in to MobiCard
seamlessly without having to remember their password. This feature
will greatly facilitate consumer
acceptance of the product by easing registration. When
accessed in this manner, it will also automatically produce the
login credentials at the time of creating the Magic Link for the
user's device to automatically log into the MobiCard platform and
dynamically selecting either the web app or mobile app (on
smartphones). This is a distinguishing feature that will
enable users to efficiently login to the app, as individuals
appreciate the simplicity of password less
authentication.
More exciting is
the second newly implemented feature; the adoption of artificial
intelligence (AI). The AI feature will facilitate users in
setting up their profile. Once the domain of the email address is
provided, the AI algorithm will automatically detect the domain and
fetch a logo for a user's organization. "During the
development process, I have been extremely satisfied with the level
of involvement and creativity sparked by our business analyst team
here at Think Latitude. They have shown their true dedication
and ambition to ensure our partnership with MobiCard continues to
grow and thrive", states Misha Shah, COO of MobiCard. The
development of this feature is proving to be effective in the
current test scenarios. This element eases what can be a
frustrating element in establishing a profile.
The proven
strategies of Think Latitude Inc. to develop this feature to
completion will enable future MobiCard users to preview the depth
of this platform which will enable several more adaptations of AI
items in future releases. Contracting for this AI supplement
at initial development is also more cost effective than doing so in
future versions. This, coming at the suggestion of the Think
Latitude team, demonstrates their commitment as a true equity
partner in the MobiCard venture.
These
improvements were negotiated in an addendum to the SOW for a total
of $10,000 in cash and $4,000 of MobiCard stock. Think
Latitude has retained additional staff specialized in AI coding and
warranted the work will not delay the present timeline to provide a
beta product at the end of Q3, 2019.
Proof of Think
Latitude's commitment to deliver upon milestones and timelines was
made evident this week. On Saturday, May
26th,
MobiCard received five phones installed with a stable release of
the product's wireframing from Think Latitude. The five
devices have been given over to a team of evaluators selected by
CEO Joshua Sodaitis for their expertise; one as a white hat
security analyst. During the next several weeks, the MobiCard
technology team will confirm Think Latitude's framing of the
product in
conformance to the 384 objectives expressed within the original
SOW. "Our organization believes that the best way to execute
hybrid agile methodology in software development revolve around the
customer. While demonstrating feature developments and
screenshare demos may be sufficient for most organizations, we only
use this as a preliminary baseline to mark our progress.
Delivering phones preloaded with the application in progress along
with regular updates to future development releases allows MobiCard
to interact firsthand with the application. This approach ensures
the highest level of confidence with our clients and holds Think
Latitude to a standard only we believe we can compete with in this
industry" asserts Andy Sajnani, CEO of Think
Latitude Inc. MobiCard recognizes this event as an important
milestone and praises Think Latitude as a capable and committed
partner.
The importance of
this event cannot be overstated. MobiCard is succeeding in
development of a working product to advance business and personal
networking beyond the limits of the printed business card.
Strategically organizing the boundless array of people's digital
presence into a concise and easily shared point of contact will be
the dislocating agent that finally propels the digital "business
card" beyond its paper brethren.
MobiCard is also
making progress internally to prepare for product launch in Q4,
2019. Newly appointed CFO Anthony Mirabito has begun working with the
accounting
firm previously retained,
and intends to
bring the company's financials forward in compliance with
GAAP. The previously announced settlement with Code 2 Action,
Inc. will allow for recategorization of the liability MobiCard
incurred to acquire its assets. There is now a clear status
of the outstanding items to be addressed such that the corporate
financials may be prepared for audit. It is anticipated that
improved stock transfer capability and removal of the OTC stop
alert may provide MobiCard shareholders improved liquidity and
valuation on the open market. CFO Anthony Mirabito has taken this as a
priority in order to expand the shareholder base while increasing
value for current investors in MobiCard.
CEO Joshua
Sodaitis states, "It is important for MobiCard shareholders to know
the great strides being made to achieve the company's
objectives. Our product development is evolving to
incorporate additional features which will attract more users upon
launch. Development has progressed to the point where we have
actual devices in hand to evaluate Think Latitude's conformance
with the Statement of Work. And we have dedicated staff on a
clear path towards providing greater transparency of the business's
financials. Though I'm happy with the progress I've made in
less than one year as CEO, I will not rest until MobiCard becomes
such a common app on everyone's personal digital device that the
printed business card soon becomes as much of an anachronism as the
buggy whip is today."
Peer
To
Peer Network aka
MobiCard Inc. owns and markets its core
technology, a SaaS mobile solution branded C2A MobiCard, a scalable
mobile business card software platform that enables users to create
a customized web-based personalized mobile app that is sharable by
text SMS, email, digital and social media. Subscribers are able to
track when the card opens, views and shares all while validating
and analyzing new leads and referrals in real time, thereby knowing
who and when to follow up www.freemobicard.com
Safe Harbor
Statement:
This release
includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. The Company
invokes the protections of the Private Securities Litigation Reform
Act of 1995. All statements regarding our expected future financial
position, results of operations, cash flows, financing plans,
business strategies, products and services, competitive positions,
growth opportunities, plans and objectives of management for future
operations, as well as statements that include words such as
"anticipate," "if," "believe," "plan," "estimate," "expect,"
"intend," "may," "could," "should," "will," and other similar
expressions are forward-looking statements. All forward-looking
statements involve risks, uncertainties and contingencies, many of
which are beyond our control, which may cause actual results,
performance, or achievements to differ materially from anticipated
results, performance, or achievements. Factors that may cause
actual results to differ materially from those in the
forward-looking statements include those set forth in our prior
filings at www.sec.gov. The company is no longer a
fully reporting SEC filing company. We are under no obligation to
(and expressly disclaim any such obligation to) update or alter our
forward-looking statements, whether as a result of new information,
future events or otherwise.
Joshua Sodaitis,
CEO
MobiCard, Inc.
45 Prospect Street Cambridge, MA 02139
Phone: 1-617-651-2460
Email: info@freemobicard.com
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