Cambridge, MA, Jan. 26, 2022 (GLOBE NEWSWIRE) -- Peer To Peer Network a.k.a MobiCard Inc. (OTC Pink: PTOP) is proud to announce following CEO Annual Letter to Shareholders:
Dear Fellow Shareholders:
Each year I make it a priority to write to you on behalf of PTOP. The majority of our shareholders are investing to finance growth in their portfolios. Other shareholders for speculation purposes, and some for the longer-term approach for retirement. Their time horizons can span multiple years, decades, or some that are only concerned with next month. Although I know that each of you have different priorities, we all want the same thing, the value to grow and the company to succeed in our goals.
As CEO, I take a long-term approach to the strategic objectives and the order in which I choose to accomplish them. That is why I make a point to list the goals for the year to come, so that you (the shareholders) can use it as a measurement as to what value we will aim to add to the company in the year ahead. The financial gains we seek to help our shareholders achieve is not created overnight. It is a long-term endeavor, and I am committed to a long-term approach. That is why, for the past 3 years as CEO I have written to you each year about what was accomplished the year prior, and what we set as goals for the year to come. I hope this helps illuminate the great strides we have taken to make sure PTOP is here to stay, and where we intend to be by years-end.
Looking back on the year 2021, we accomplished a lot. We added 2 new people to the team including CTO (Chief Technology Officer) Nicholas Santana. We ended our relationship with the Think Latitude development team after numerous setbacks on our proprietary apps, and brought on an experienced senior development architect Jay Wallace. PTOP has been better served with an in-house technology expert to minimize expenses and to navigate difficult technology implementation, integration, and supervision. Getting the right technology team in place was critical and will always be critical to the long-term success of any company.
In 2021 PTOP was able to get the app’s both relisted and approved in their respective stores (Apple & Google Play Store) and a complete overhaul of the entire back end was started and completed, rendering less bugs and more seamless transitions to enable better functionality from a database standpoint. You can download the app today at www.freemobicard.com or visit your app store on your phone.
In 2022 we are planning to announce a kick-off of a complete front-end overhaul & redesign that will enable a different “look & feel” for the apps. Our goal is to make Mobicard easier to understand, faster to use, add some additional functionality, and make both apps much more user-friendly. One of the components will be an easier to use enterprise user portal for companies to sign up entire lists of their employees. Also, a paid for version should be offered directly through the app store as a feature to the apps we have in the store today. Getting on a path to profitability is an important goal for the year 2022. These must be completed before we kick off our major efforts to blitz & sign up the enterprise accounts we have lined up, and boy do we have some good contracts ready to be signed. I am really excited to announce the deals we have in the works when they are signed and ready to roll.
In 2021 I did major work on the financial inner workings of PTOP. 4 years ago, I had no experience running a publicly traded company. Over the past year, I’ve had the opportunity to succeed where countless previous CEO’s & CFO’s had let PTOP down. I successfully navigated over 5 years of financial delinquency to become compliant with SEC’s new amended Rule 15c2-11. I met a deadline that thousands of other OTC market stocks missed and were therefore de-listed. I am sure that shareholders are thankful for these efforts, no small task. After successfully getting 3 years of financials completed and upgrading the value of the company from a dark company to one that was Limited information, I finally delivered PTOP to a coveted “Pink Current Status”. Previously entire states like IL, were unable to purchase shares of PTOP due to their sates Blue Sky laws (State security laws). With Pink Current Status I can look forward to connecting with a new potential shareholder base which I believe will add a direct value to our share price going forward. This is certainly a tremendous value to the company moving forward. As of today, I have sent down details to help our accounting firm finish our 1st quarter financials as well, which are due February 15th of 2022. With the hard work of gaining PTOP “Pink Current Status” from years past, it enables me to be able to easily comply with being current for new reporting requirements and dates.
In my road map for the year ahead in 2022, what I want to share is a clear sense of purpose; consistent performance, and recognition of the importance of engaging with, and delivering for, my key shareholders. This is the foundation of capitalism.
Under my leadership PTOP will be driven by mutually beneficial relationships between PTOP and the employees, customers, shareholders, and app users our company relies on to prosper.
In 2022 I plan to give more frequent updates to shareholders, so as to give updates on our goals achieved, or any update on challenges we are facing in order to achieve a particular goal. I hope to send a letter to shareholders upon completion of each quarter of successfully posted financial quarter reports as well to give shareholders a better gauge on where we are on the list of strategic objectives set out for the year 2022.
Our shareholders should be excited to hear that we plan to apply for DWAC eligibility with our stock transfer agent in the coming month to enable people to turn shares into electronic form and transfer into existing brokerage accounts. This will be exceptionally helpful for shareholders who have, or will be, purchasing shares directly from PTOP so that they can deposit their shares into their online trading accounts. We are working on 2 new websites as well. One website will be particularly of value to shareholders as its focus will be an investor website for information on PTOP and a focus on our stock.
In 2022 we plan to hold an annual shareholder meeting and allow for proxy votes on some upcoming issues that will be an engaging exercise for all. Keep in mind shares purchased directly from PTOP even if restricted hold voting rights.
By February 15th of 20 2022 we plan to release our Q1 financials and continue to get debt off our books continually improving our balance sheet. We are also exploring up-listing options as well.
In 2022 we aim to file a Reg A offering with the SEC which will enable us to get placement agents to raise money for PTOP at various other outside organizations. This is the next big milestone that will also allow PTOP to sell free trading shares to anyone who would participate in the direct share purchase program, or to these other outside funds at a price that PTOP sets.
We are also going to be exploring reinitiating certain corporate actions with FINRA namely a stock restructure to better suit the company now that PTOP has achieved “Pink Current Status”.
In 2022 we plan to complete a front-end redesign of our apps, completion date by end of April, early May. Then we plan to kick off a major marketing campaign. We hope to see a few user updates within the next 6 months. We plan to start to expand our user base exponentially. We plan to make some big announcements on enterprise deals, and reapproach other deals previously signed before there were any functioning mobile apps.
In 2022 after a successful launch of the redesigned and more friendly & functional apps we plan to explore restarting the MOBICOIN token program. This is a big goal that we hope to accomplish by year end. We believe reinstituting this back into our apps by the end of the year would add a huge value to the company and potentially add tremendous value to the price per share of the stock. These strategic objectives lay out an aggressive plan for growth moving forward in the year 2022.
Delivering on the competing interests of a company’s many divergent shareholders is not easy. As a CEO, I know this firsthand. In this polarized world, CEOs will invariably have one set of shareholders demanding that we do one thing, while another set of shareholders demand that we do just the opposite.
That is why it is more important than ever that PTOP and our management be guided by our purpose. If I stay true to PTOP’s core purpose and focus on the long term, while adapting to this new world around us, I believe I will deliver durable returns for shareholders and help realize the power of capitalism for all.
Chairman & CEO
Joshua Sodaitis, Chairman & CEO MobiCard, Inc.
45 Prospect Street Cambridge, MA 02139
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.