PTOP Announces Pink Current Status! PTOP Also Announces
Payment Completed To Accountants For Q1 Financial Statements To Be
Completed Soon!
Cambridge, MA -- February 16, 2023 -- InvestorsHub NewsWire --
Peer To Peer Network (OTC:
PTOP) is proud to announce it has obtained the coveted "Pink
Current Status" from the OTC Markets and has also made payment to
Blue Chip Accounting to have 1st quarter financials
completed soon.
"We fell out of compliance for Pink Current only because the
attorney letter had not been submitted after we submitted our
fiscal year-end financial reports. When I found out, I notified our
attorney and he promptly sent in the attorney letter to cover the
financial periods for the annual report required. It took OTC
markets 3-5 business days from the time they received the attorney
letter to put us back to "Pink Current Status". I assume this will
open the gates back up to new investors who otherwise would not be
able to buy the stock," commented Chairman & CEO Joshua
Sodaitis.
"I remain steadfast in adhering to the proper reporting
requirements. We paid the accountants for our Q1 financials and
should have them completed and posted to OTC Markets by the end of
February. I also remain committed in wiping off debt from the
balance sheet," elaborated CEO Sodaitis.
OTC Markets revised their Pink Current and Pink Limited guidelines
on the information that's required by companies to qualify for
each, which are publicly available on the otcmarkets.com
website.
According to the OTC Markets Group website: "The
Pink Limited tier, and the information required to be qualified as
Pink Limited is more basic — what you need under Rule
15c2-11.
Pink Current goes above that. In
order to meet those guidelines, you're going to need to have
specific financial information — more than the Pink Limited
guidelines. Both will allow a security to be quoted on an ongoing
basis, but the Pink Current guidelines are more stringent. And with
respect to the impact of being on one tier versus the other,
brokers that are quoting those securities may place restrictions on
the Pink Limited tier that they do not place on Pink
Current.
Companies that trade on our Market
are subject to the Blue Sky laws in the 50 states and four
territories. That also is impacted depending on whether or not you
are Current or Limited. As an example, for companies that come in
Current that are making their information available to us, you
would gain a state like Illinois. It will have an impact not just
on a broker's potential restrictions on trading Limited versus
Current, but also on the Blue Sky status of individual
states." Quote directly from OTC Markets: Rule
15c2-11 Amendments FAQs - OTC Markets Blog .
This Pink Current Status for PTOP means that entire new states like
Illinois (as used in the OTC Markets example above) amongst others,
will now have access to buying shares of PTOP in the open market.
This is an obvious benefit to shareholders and the company.
If you are curious to see the balance sheet, financial disclosure
documents, or other financial reports we encourage you to view them
on the OTC Markets group website.
"Next week I will be putting out some more exciting news as I
strive diligently to knock down the strategic objectives I laid out
in the Annual Letter To Shareholders. I believe this will finally
be PTOP's year. Together with the help of shareholders we can make
our strategic goals a reality. I would say this is the BEST time to
become a shareholder of PTOP," concluded Chairman & CEO Joshua
Sodaitis.
Contact Info:
Joshua Sodaitis, Chairman & CEO MobiCard, Inc.
45 Prospect Street Cambridge, MA 02139
Phone: 1-617-481-1971
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.
