Chairman & CEO Joshua Sodaitis
Announces Annual Letter to Shareholders
Cambridge, MA -- Feb 7, 2023 -- InvestorsHub NewsWire --
Peer To Peer Network a.k.a MobiCard Inc. (OTC:
PTOP) today released following annual letter to
shareholders:
Dear Fellow
Shareholders:
Each year I make it
a priority to write to you on behalf of PTOP. I believe that a
clear and concise strategy outlined at the beginning of the year
helps keep the company focused on strategic objectives that we aim
to achieve. 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.
In the year 2022 we
faced challenges at every turn: a lingering pandemic, unprecedented
government actions, a highly polarized congressional U.S. election,
mounting inflation, a war in Ukraine and dramatic economic funding
shortage that short changed PTOP. We lost a member of our advisory
board whom decided to be involved in negotiating the MOBICARD™ 2.0
tech contract, and then disappeared after having promised to pay
for the contract. We hope he is okay and will return for the
new year. Adding to the disruption, these events were unfolding
while we learned that DWAC eligibility would not automatically make
PTOP shares accepted for transfers to existing brokerage firms.
Ultimately, we could only afford half of the strategic objectives
we had laid out for the year 2022. Since I have been CEO dating
back to 2018… 2022 was the 1st year in which I
was not able to knock down all of the strategic objectives I had
laid out in my annual letter at the beginning of that year.
But during this
difficult time, we have a moment to put aside our differences,
offer solutions and work with shareholders whom may not have been
as active previously. In the year 2023 we have an opportunity to
come together in defense of PTOP & MOBICARD™ 2.0's future.
We have seen in many years prior that the shareholders of PTOP have
come together previously during instances of conflict and crisis. I
am optimistic that we can reengage with previously disgruntled
shareholders, & long-lost advisors, for all of our interests
collectively. This juncture is also a moment when our company needs
to work together to achieve the mutually beneficial strategic
objectives, I laid out ahead for the year 2023.
Although I began
this annual letter to shareholders in reflection to 2022's
challenging landscape, I remain proud of what our company, our
employees, & 1099 independent contractors have achieved,
collectively and individually. As you know, I have long championed
the essential role of transparency, and honesty in our community —
MOBICARD™ 2.0 has the potential for bringing people together, for
enabling companies and individuals to reach for their dreams, and
for being a source of strength in entrepreneurism. Throughout this
past challenging year, we never stopped doing all the things we
should be doing to serve our shareholders and remain true to our
transparent financial reporting requirements.
Looking back on the
last year and the past 4 years — starting from my time as CEO in
late 2018 — it is clear that my financial discipline, constant
investment in innovation and ongoing development to better the
company, is what enabled us to persevere in our steadfast
dedication to help shareholders and maintain our financial
reporting requirements.
I'd like to note
some steadfast principles that are worth repeating. The first is
that our management team goes to work every day recognizing
the enormous responsibility that we have to our shareholders.
Maintaining our ability to be listed on the OTC Markets Pink Sheets
is the top priority.
Second, while I
don't run the company worrying about the stock price in the short
run, in the long
run our stock price is a measure of the progress we
have made over the years. This progress is a function
of continual investments in our people, systems and
product, in good and bad times, to build our capabilities. Whether
looking back to 2017 when I first got on the board and the stock
was at $0.0001 per share, or in the years since, Peer To Peer
Network's shareholders investments have resulted in our stock's
significant improvement. These important investments that many of
you will make directly into PTOP in the weeks and months to come
will also drive our company's future prospects and position it to
grow and prosper. I have no doubt in my mind that 2023 will see the
release of MOBICARD™ 2.0 and it's debut will lead to significant
improvement in the appreciation of our stock price, and of the
value of the company overall.
In 2022 we
announced the Kick-off of a complete front-end overhaul. We
completed that goal. We also announced a complete redesign that
would include improvements to our web apps, mobile apps, and make
MOBICARD™ easier to understand, faster to use, and add additional
functionality. We were calling it MOBICARD™2.0. We are $30,000
short of having MOBICARD™ 2.0 completed. That is why I am
discussing with our tech team the idea to perhaps release
MOBICARD™2.0 in stages This will allow the app to be out and
gathering users while we push out updates to add the other
additional functionality and features. This will be a big decision
for 2023 that will greatly depend on the capital available to the
company come the end of February.
We have
consistently described to you, our shareholders, the basic
principles, and strategies we use to build this company — from
maintaining a fortress balance sheet, constantly satisfying
regulators, continually improving risk governance and controls, and
serving shareholders. We are proud to announce that our Q1
financials will be completed soon, and we will continue to clear
debt off of our books, while not accepting any form whatsoever of
any toxic debt.
In 2022 we applied
and were approved for DWAC eligibility. In 2023 we plan to hold a
majority vote to effectuate key corporate actions with FINRA that
will better suit the company and enable further investment from
existing shareholders. Namely a restructure. I hope to conclude
this vote in the next week and will make an announcement
accordingly.
In 2023 we plan to
file a form C with the SEC. This will enable Reg CF or Crowd
Funding. This will enable PTOP to seek the much-needed funding to
achieve strategic objectives. Crowd Funding allows for an unlimited
number of unaccredited investors and also allows for PTOP to
advertise and promote the purchase our stock directly through the
company on social media and online. We plan to work with a
specialty company that will host it on their site as well as
promote us to a list of their investors.
In 2023 we need to
complete a PCAOB compliant audit in order to clear both the Reg CF
and in our opinion the corporate actions/ restructure.
If PTOP is able to
obtain the funding necessary to complete these objectives, our
stock should be well over a penny and there most likely will be an
entirely new shareholder base interested in our company right in
time for our MOBICARD™2.0 apps to drop. We also plan to file an
entirely new patent based on our MOBICARD™2.0 solutions. This
should build momentum.
The plan is for
2023 is simple. Make a press release after the following completed
strategic objectives:
(1)
Complete a Majority Vote
(2)
Engage a Crowd Funding Company
(3)
Engage & Fund an Auditor
(4)
Pay our Tech Team to get out Mobicard™2.0 into the stores
(5)
Complete the PCAOB audit
(6)
File with FINRA for a stock re-structure
(7)
File form C with the S.E.C. for a Reg CF = Crowd Funding / Get
approved
(8)
Engage with Investors Hub (Home Take over Page placed adds)
(9)
Release Mobicard™ 2.0
(10) Promote User Growth though a well-funded PR &
Marketing campaign.
If you look deeper,
you will find that PTOP's success and accomplishments are founded
on our commitment to EACH-OTHER. Shareholder value can be built
only if you maintain a healthy and vibrant company, which means
doing a good job taking care of funding requirements, employees,
and shareholder interests. Conversely, how can you have a healthy
company if you neglect any of these stakeholders? As we have
learned in 2022, there are myriad of ways that each stakeholder is
dependent on the other. Adhering to our basic principles and
strategies allows us to drive forward, and properly manage our
capital, as we have consistently demonstrated over the past
year.
Finally, the basis
of our success is our people. Our shareholders and new prospective
shareholders that pay to build the company and maintain the
regulatory requirements, PTOP's CEO who makes the strategic
decisions, manages the risks, determine our spending priorities.
Whatever your view is of PTOP's complexity and the risks and
opportunities ahead, having a great team of people — with guts,
brains, integrity, and an enormous capability to navigate
personally challenging circumstances while maintaining high
standards of professional excellence — is what ensures our
prosperity, now and in the future. If I can round up the
$150,000 necessary to move the company forward in the next two
months we will clear more than half the list within 6 months. We
will all be able to experience the BEST year PTOP has ever had!
I plan to answer a
bunch of shareholder questions on the PTOP message boards on
Thursday so I encourage anyone with any comments questions, or
concerns to reach out at www.ptopnetwork.com
Just think where
the stock can go if we knock down the objectives I have outlined.
It will come down to funding to get those initiatives accomplished.
together we can make this by far the best year ever.
I look forward to
talking with all of you on our shareholder message boards at
www.ptopnetwork.com.
Like us @MobiCard on
Facebook. Follow us on Twitter @freemobicard.
MobiCard A new phase is coming soon!
Contact Info:
Joshua Sodaitis,
Chairman & CEO MobiCard, Inc.
45 Prospect Street Cambridge, MA 02139
Phone: 1-617-651-2460
Email: info@freemobicard.com
App Website: www.freemobicard.com
Investor website: www.ptopnetwork.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.
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