MOBICARD Receives Legal Approval for Its Utility Token and Prepares for Re-Launch

Rhea-AI Summary

MOBICARD, a product of Peer To Peer Network (OTC PINK:PTOP), has received legal approval for its utility token, MOBICOIN. A leading law firm specializing in corporate governance securities law has confirmed MOBICOIN's compliance with current regulatory standards, ruling it a utility token rather than a cryptocurrency. This milestone paves the way for MOBICARD's re-launch and potential listing on exchanges.

MOBICOIN's initial launch in 2017 saw impressive trading volumes and a 993% surge in PTOP stock. The token was suspended later that year due to new SEC regulations. With the recent legal opinion, PTOP is now preparing for MOBICOIN's asset listing on several exchanges. The company encourages potential investors to visit their crowdfunding portal at https://ptopnetwork.sppx.io.

Positive

• Legal approval of MOBICOIN as a utility token, ensuring compliance with regulatory standards
• Preparation for re-launch and potential listing on exchanges
• Previous success: 993% surge in PTOP stock during initial launch in 2017
• Over 400 million shares traded and $1.1 million in dollar volume during initial launch

Negative

• MOBICOIN was suspended in 2017 due to SEC regulations
• The previous CEO never brought MOBICOIN back after suspension

A leading law firm specializing in corporate governance securities law confirms MOBICOIN's compliance with current regulatory standards, and gives a formal "legal opinion" ruling Mobicoin a Utility Token, not a crypto currency.

CAMBRIDGE, MA / ACCESSWIRE / July 16, 2024 / Peer To Peer Network (OTC PINK:PTOP) ("PTOP") proudly announces that its flagship product, MOBICARD, has received a finalized legal opinion regarding its utility token, MOBICOIN, confirming its compliance with current legal and regulatory standards. This milestone underscores the team's commitment to transparency and legality, signaling confidence to stakeholders and potential investors while reassuring that the MOBICARD team is committed to the project's long-term success.

"We are pleased to announce that the legal opinion regarding our utility token has been finalized," said Joshua Sodaitis, chairman & CEO of Peer To Peer Network. "This comprehensive review, conducted by a leading law firm specializing in corporate governance security regulations, affirms that our utility token complies with current legal standards and regulatory requirements. This finalization is a crucial step forward, ensuring that our token can be utilized as intended within our ecosystem while providing confidence and clarity to our stakeholders. With this legal foundation securely in place, we are now well-positioned to advance our project and deliver on our promises to our shareholders. Mobicoin will still trade in a secondary market as it had before and we are discussing which exchange we are going to list it on."

MOBICOIN's initial launch in 2017 saw trading volumes over 400 million shares traded and over $1.1 million in dollar volume, with a 993% surge in PTOP stock, outperforming every other stock on the OTC markets. SEC regulations introduced in December of the same year resulted in the CEO at the time suspending the token in order to conduct a legal review to ensure compliance with the new guidelines the SEC had released. The CEO at the time never brought the Mobicoin back.

Currently, MOBICOIN is preparing for the asset listing process on several exchanges. Potential investors are encouraged to learn more about this opportunity and visit PTOP's crowdfunding portal at https://ptopnetwork.sppx.io.

"If there were ever a time to buy PTOP stock through our crowdfunding portal, this would be the time BEFORE our announcement that MOBICOIN goes live," added Sodaitis.

The MOBICARD app is available on iOS and Android.

About MOBICARD

Peer To Peer Network's flagship product is MOBICARD™. MOBICARD™ is the first-of-its-kind, digital contact/business card that will shift the paradigm of personal and professional networking. It will help individuals and businesses share information and more effectively expand their visibility and brand awareness. The MOBICARD™ is a combination of powerful mobile apps and desktop apps with wide-ranging capabilities, including linking videos, user websites, all forms of contact information, and each user's social media links into one consolidated digital source. It is more than just a digital business card; it is a "Dynamic Digital Footprint." 

Contact:

Joshua Sodaitis,
Chairman and CEO
Peer To Peer Network, Inc.
Investor Relations: 617-481-1971
Email: info@freemobicard.com

Media Contact: Jessica Lombao
Email: jessica.lombao@issuerdirect.com

Investor website: www.ptopnetwork.com

Safe Harbor Statement:

This release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company intends all forward-looking statements to be covered by 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. These statements are based on and reflect our current expectations, estimates, assumptions and/or projections, our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. 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 reports at OTC Markets. 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.

Contact Information:

Jessica Lombao
jessica.lombao@issuerdirect.com

SOURCE: MobiCard

View the original press release on newswire.com.

FAQ

What is the legal status of MOBICOIN, PTOP's utility token?

MOBICOIN, PTOP's utility token, has received legal approval and is confirmed to be compliant with current regulatory standards. It has been ruled as a utility token, not a cryptocurrency, by a leading law firm specializing in corporate governance securities law.

When was MOBICOIN initially launched and what were its trading volumes?

MOBICOIN was initially launched in 2017. During this launch, it saw trading volumes of over 400 million shares and over $1.1 million in dollar volume. The launch also resulted in a 993% surge in PTOP stock.

Why was MOBICOIN suspended in 2017?

MOBICOIN was suspended in 2017 due to new SEC regulations introduced in December of that year. The CEO at the time suspended the token to conduct a legal review and ensure compliance with the new guidelines.

What are PTOP's plans for MOBICOIN following the legal approval?

Following the legal approval, PTOP is preparing for MOBICOIN's asset listing process on several exchanges. The company is also encouraging potential investors to visit their crowdfunding portal at https://ptopnetwork.sppx.io.