PTOP IS IN
COMPLIANCE WITH THE NEW AMENDMENT TO SEC RULE
15C-211
PTOP IS WORKING WITH OTC MARKETS TO OBTAIN "PINK
CURRENT" STATUS
Cambridge, MA -- October 14, 2021 -- InvestorsHub NewsWire -- Peer
To Peer Network a.k.a MOBICARD Inc. (OTC
Pink: PTOP) - September 28th marked the date that the SEC had
set for companies to be in compliance with the new amendment to
rule 15c2-11 or else be delisted to the Expert Markets. Peer
To Peer Network (PTOP) is proud to have rose to the occasion and is
now in compliance with the new amended rule. PTOP's OTC "stop sign"
has been removed and replaced with a "yield sign" signaling
"Limited Information" status.
OTC has requested a few minor changes to PTOP's disclosure reports,
and PTOP is in the process of complying. PTOP CEO Joshua Sodaitis
expects to be in a position to have all of these amendments
completed and ready to turn in next week. PTOP is pursuing "Pink
Current" status.
"No one really understands what went on behind the scenes to be in
compliance with the SEC amendment so that we would not be delisted.
It was a lot of work. PTOP had stopped reporting financials in 2015
and had a lot of management turnover prior to my arrival so
creating financial statements for this time period was a huge
effort. Prior to now, I had assumed our accountant would handle it
all, but I quickly learned it was up to me. It gave me the
opportunity to really understand our financial statements, and this
has been a very helpful outcome. Our securities attorney was
fantastic, at one point we spent 2 hours+ on the phone on a Sunday
afternoon figuring out the finalization of the supporting
documentation for the financials and the correct disclosure
document information. I personally was waking up at 6am and was
working until after 1:30am for 2 weeks in order to complete the
disclosure documents for 9/30/2019& 9/30/2020 joint annual
report, 12/31/2020 quarterly report, 3/31/2021 quarterly report and
6/30/2021 quarterly report. My wife was literally bringing me
Macaroni & Cheese in my home office for a week straight because
I wasn't even breaking for dinner. Figuring out the financials from
the delinquent history, length of time, multiple former CEO's &
CFO's lack of supporting documentation during their time was a
daunting task. We should all feel a sigh of relief this goal of
complying with the new regulations was accomplished. I will
continue to rise to the occasion to complete strategic objectives,
add value to the company, and perform for shareholders. I am
focused on gaining us the coveted "Pink Current" status among other
goals" commented CEO Mr. Sodaitis.
"If you want something done right, you have to do it yourself. 2
CEO's & 2 CFO's later I got it done" joked CEO Mr.
Sodaitis. "We anticipate being "Pink Current" very soon, Mr.
Sodaitis continued.
"Pink Current" status has more benefits than being "Pink Limited
Information" status. For starters gaining "Pink Current" status
will enable more brokerage firms that will deposit your shares and
allow you to trade them. One shareholder commented that he had
recently unrestricted his shares but was told he could not deposit
them with his brokerage firm until PTOP has "Pink Current" status.
With "Pink Current" status we can speculate that it will also bring
in more new buyers to the stock in the open market, as trading
would be allowed in varying blue sky law states that otherwise
wouldn't allow buyers of the stock. PTOP would expect higher volume
for the stock and more interested buyers with a "Pink Current"
Status. You can see a list of the benefits of being "Pink Current"
status here: Over-the-Counter (OTC) Stocks - What They Are
& Why You Should Invest
(moneycrashers.com)
PTOP plans to file for DWAC eligibility as soon as the "Pink
Current" status is effected and will then look to file a Reg A
offering with the SEC to add even more value to the
company.
PTOP is also in the final testing phase of the apps to resubmit to
their respective stores and will announce soon when we submit the
apps. PTOP plans to have the new improved apps listed in both the
Google Play Store & Apple Store soon. This coming weekend will
wrap up the final testing before submission to their respective
stores.
"I am super excited for PTOP. For the past few years, I have been
cleaning up the company and building intellectual property and
assets. If you look at our balance sheet we have some impressive
technology assets, an increasing intellectual property portfolio,
including our domain names, trademarks, and patents. I am excited
to get the financial standing of this company in order to reflect
the value we always knew we should have, and then rise to newer
highs. I made a promise when I first joined the board of the
company to shareholders, and I was committed to see it through to
the end. I am extremely proud to announce that I am keeping my
promises. The expansion phase will be super exciting, and I
consider that the fun part of the job. I can't wait until we are
making announcements on growing our user base and then monetizing
our apps. This might be the best opportunity for investors to get
involved in our stock as the hardest work has been completed, and
the new phase of the company (GROWTH PHASE) is coming soon"
concluded Mr. Sodaitis
Contact Info:
Joshua Sodaitis, Chairman & CEO MobiCard, Inc.
45 Prospect Street Cambridge, MA 02139
Phone: 1-617-651-2460
Email: info@freemobicard.com
ABOUT:
Peer to Peer Network aka MobiCard is the 1st of its kind digital
contact/business card. It will greatly facilitate the ability of
individuals and businesses to share information and more
effectively expand their visibility and brand awareness. Mobicard
is a combination of powerful mobile apps and desktop apps with wide
ranging capabilities, including linking video's, user websites, all
forms of contact information, and all of each user's social media
links into one consolidated source. It is more than just a digital
business card; it's a "dynamic digital footprint." A subscriber can
custom create their business card to include a company logo,
profile photo, contact details, website, audio messaging, social
media links and multi-media content. The platform sharing and alert
system enables users to share their card via text/SMS, e-mail, and
global social media sites including Facebook, Twitter, LinkedIn,
etc.. The system provides the user instant text alerts when their
card is opened or shared to third party referrals all while
building an invaluable database of contact leads.
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 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.
