PTOP
Renegotiates MOBICARD™2.0 Contract - MOBICARD™1.5 will Be Released
First
Cambridge, MA -- April
26, 2023 -- InvestorsHub NewsWire -- Peer To Peer Network a.k.a MobiCard
Inc. (OTC:
PTOP)
("PTOP") is proud to announce that we have renegotiated the
MOBICARD™2.0 contract so that a release of the improved apps can be
released sooner.
"Due to a lack of
funding, it has been difficult to advance all of the interests of
Peer To Peer Network, specifically some of the terms of payment to
the developers. I had hosted a shareholder meeting where I detailed
that we had hit the halfway mark on the development contract in
August of 2022. I expounded that in order to complete it we needed
to be able to pay another $20,000. After numerous months of no
compensation and the app development at a standstill, Nicholis
Santana and Jay Wallace came to me with a solution to bring a
MobiCard 1.5 to the stores. They implored that they would be
willing to do a release prior to the full launch and an amendment
was made to compensate in shares for this task and resume cash
payment on MobiCard 2.0 after. I was very pleased to have the
developers willing to work with me on the contract to make an
amendment that would get us an app in the app stores without having
to shell out that cash up front," explained CEO Joshua
Sodaitis.
The new amendment to the
original MOBICARD™2.0 contract signed by all parties (Developers
and Peer To Peer Network) now stipulates that the developers will
receive shares in PTOP to release a MOBICARD™1.5 version of the
apps and then resume cash payments after in order to have the full
MOBICARD™2.0 released.
The MOBICARD™1.5 version
will not include the enterprise features, nor the paid
subscriptions, or advertising. There will be no revenue generating
ability until the developers are compensated their cash payments as
stipulated in the original agreement.
"Look, I am excited about
MOBICARD™ and the plethora of invitations both myself and Jay
Wallace feel will change the industry as a whole. We want MOBICARD™
to thrive. We agreed to take shares because we believe in ourselves
and in the application. I told Josh after we release MOBICARD 1.5
he can start to sign up users. But that is only half the job, the
other half is generating positive momentum and growing the user
base.
Plus, Josh can put out
press every time we add the other features therefore creating a
real BUZZZZ beforehand prior to the full MOBICARD™2.0 release. I
think we are looking at 3-4 months and we have the MOBICARD™1.5
apps in the app stores," expounded Developer, Nicholis
Santana.
Hopefully after YOU the
shareholders see the supreme job compared to the last apps and the
fact that EVERYTHING works will make a BIG difference for the
shareholders and will increase the value of the company
overall.
PTOP's plan will be to
release the MOBICARD™1.5 app within the next 5 months. The plan
will be to be able to build a buzz for the apps and be able to make
increased press announcements as further functionality is added
after the cash payments are made.
"I am thrilled that the
tech developers were willing to make this amendment to the
contract, I can't wait to start signing people up for the new apps.
These new apps are going to be 100% better than the broken mess we
were left with from Think Latitude. Not only will they be easier to
use, but they will have easy steps to follow. The biggest change is
the look and feel of the application, to increase usability and the
overall flow. I will still need to get the developers paid their
cash component of $20,000 and be able to pay for the AWS servers
that cost roughly $1,200 per month in order to have the revenue
generating ability, but having an AWESOME app in the app stores
will deliver us the ability to start to get a larger user base
prior to the MOBICARD™2.0 launch," concluded CEO
Sodaitis.
Like us
@MobiCard on
Facebook. Follow us on Twitter
@freemobicard
PTOP A new phase is
coming soon.
Contact
Info:
Joshua Sodaitis, Chairman
& CEO MobiCard, Inc.
45 Prospect Street
Cambridge, MA 02139
Phone:
1-617-481-1971
Email: info@freemobicard.com
Investor website:
www.ptopnetwork.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 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.