PTOP announces it has retained BlueChip Accounting LLC to prepare financials for OTC Annual Report for Fiscal Year ending 9-30-2021

Rhea-AI Summary

Peer To Peer Network (OTC Pink: PTOP) announced the retention of BlueChip Accounting to prepare year-end financial statements for 2021. This step is crucial for compliance with SEC rules to avoid potential delisting from OTC Markets, which PTOP successfully navigated by submitting reports by the September 28 deadline. The annual report is expected to be completed by January 1, 2022, aiming for 'Pink Current Status', which would enhance the company's standing and eligibility in the markets. CEO Joshua Sodaitis anticipates a productive start to 2022 with numerous announcements planned.

Positive

• Retention of BlueChip Accounting for year-end financial statements enhances compliance and avoids potential delisting.
• Successful submission of necessary reports by the September 28 deadline safeguards PTOP's market status.
• Anticipation of 'Pink Current Status' which could improve company visibility and opportunities for growth.

Negative

• None.

Cambridge, MA, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Peer To Peer Network a.k.a MobiCard (OTC Pink: PTOP) is happy to announce that we have retained BlueChip Accounting and executed payment. The New Agreement to prepare PTOP financial statements for our year-end annual report ending 9-30-2021.

Shareholders may recall that PTOP previously worked with BlueChip Accounting in order to become compliant with the SEC rule 15c2-11’s new amendment that stated any company without its financial reports up to date by September 28^th, 2021, would be delisted or taken off the OTC Markets exchange and moved to the “Grey Markets”. PTOP filed the necessary OTC Reports, met the requirements, and had PTOP’s financial statements posted by September 28^th in compliance with the proper procedures, and guidelines in accordance with the OTC Markets.

BlueChip Accounting’s services will include but are not limited to:

• Assist management in the preparation of US GAAP based financial statements for the period ended 9/30/21 and related notes to the financial statements based on information in the Company provided financial records.

• Prepare reconciliations and schedules related to any adjusting entries necessary for the audits and reviews.

• Propose standard, adjusting, or correcting journal entries or other changes affecting the financial statements to the management.

• Provide auditor support as it relates to our preparation of the financial statements and any adjustment to the Company’s records requested during reviews or audits.

• Assist the Company’s SEC Counsel in the preparation of the Company’s OTC Reports.

• Management will be required to review and approve final Financial Statements.

PTOP plans to have this OTC Annual report submitted prior to December 31, 2021.

PTOP believes we will have the Annual report (year ending Sept. 30^th, 2021) completed & posted by Jan 1st, 2022, and obtain “Pink Current Status” sooner rather than later. These two events will be something to look forward to in the new year and should strengthen the company. “Pink Current Status” will offer a variety of advantages to the company. Once Pink Current, we do plan to pay for an application for DWAC eligibility.

“We hope this new year will see a very active January and February for press announcements. As I plan to have many objectives lined up for a rapid-fire succession of completions early in the new year. MobiCard will start to realize the benefits of our completed objectives. Merry Christmas & Happy Holidays to all our shareholders, I look forward to communicating a lot of positive developments early in the new year,” concluded Chairman & CEO Joshua Sodaitis.         

Contact Info:

Joshua Sodaitis, Chairman & CEO
45 Prospect Street Cambridge, MA 02139
Phone: 1-617-651-2460
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 multimedia 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. 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.

FAQ

What is the purpose of the new agreement with BlueChip Accounting for PTOP?

The agreement aims to prepare PTOP's financial statements for the year ending September 30, 2021, ensuring compliance with SEC regulations.

When is the annual report for PTOP expected to be submitted?

PTOP plans to have the annual report submitted by January 1, 2022.

What effect does obtaining 'Pink Current Status' have on PTOP?

Achieving 'Pink Current Status' will enhance PTOP's visibility and access to capital markets.

How did PTOP ensure compliance with SEC rules regarding financial reporting?

PTOP successfully filed necessary OTC reports by the September 28 deadline to avoid delisting.