PTOP Announces Q3 Financials Posted and gives Technology Update

Rhea-AI Summary

Peer To Peer Network (OTC Pink: PTOP) announced the filing of its Q3 financials, showing compliance with OTC Markets requirements. CEO Joshua Sodaitis emphasized the optimistic outlook, stating that debt reduction and asset increases are underway, especially with the MOBICARD™ 2.0 app now over 50% complete. The app aims to enhance user experience through improved functionality and patented features, including data analytics to track user engagement. PTOP plans to launch the app by early October 2022, which is expected to significantly enhance its market presence and shareholder value.

Positive

• Q3 financials posted, indicating compliance with reporting requirements.
• MOBICARD™ 2.0 is over 50% complete, with a target launch by early October 2022.
• New features include data analytics and improved user interface, enhancing overall user experience.
• Reduction of company debt is prioritized, potentially increasing shareholder value.

Negative

• None.

Cambridge, MA, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Peer To Peer Network aka MobiCard (OTC Pink: PTOP) announces today that it has complied with filing requirements and has posted its Q3 financials (June 30) to OTC Markets.

PTOP believes that the assets will greatly increase once the MOBICARD™ 2.0 apps are completed as well. “Getting rid of our debt and increasing our assets, is a no brainer for the balance sheet and my duty to increase the value of the company, things just keep getting better for the shareholders of PTOP” stated Chairman & CEO Joshua Sodaitis.

PTOP is very pleased to announce that MOBICARD™ 2.0 is more than 50% completed!

PTOP held a conference call with both the CEO and Head of the Tech Team Nick Santanta on Friday August 5. This conference calls agenda was to seek a progress report detailing what has been accomplished and what still needs to be done, as well as the timetable for completion of MOBICARD™ 2.0.

“I told you we are not Think Latitude, and that we would meet the deadline according to the contract. We are 100% done with the wireframes, but keep in mind the wireframes don’t cover all of the features. With 100% done on the wireframe it marks our 50% complete point on the contract. The wireframes are mock-ups of the user experience and the overall theme. Utilizing those wireframes we will be creating additional views that we will bring into the app. Additional components we will add in. Plus additional functionality to utilize the theme for a cohesive user experience. We are on track to finish exactly as when we anticipated. No slow-downs, errors, or issues have come up that would slow us down,” exclaimed Nick Santana.

“The body of work of this project entails the revamping of MOBICARD™ 1.0 mobile application to mirror the wire frame design, incorporation of all current functionality of MOBICARD™ 2.0, and the additional functionality that was outlined in the contract. According to the analysis that Jay Wallace and myself (Nicholis Santana) have comprised, we have exceeded the 50% completion mark as of today, August 16. The additional functionality and the implementation of all functionalities that is not depicted in the wireframe consists of about 35% of the project. The other 65% of this coding sprint consists of the Xamarin structure of the interface, styling, incorporation of the existing backend, and the conversion of all views provided by PTOP’s designer,” elaborated Nicholis Santana.

The new improved MOBICARD™ 2.0 platform when fully developed will provide electronic cards that contain direct contact links for the card owner's phone numbers, addresses, websites, and social media webpages; their entire digital footprint. The system includes a central server for storing and automatically updating all electronic business cards to keep all cardholders and recipients completely updated on all their card contact information.  One of PTOP’s granted patents that covers 19 specific claims will be utilized in the new MOBICARD™2.0 apps as PTOP’s CEO made sure that the company did not sacrifice any of the patented features. The three most notable being sharing logic, 3^rd party sharing and data analytics shared by a link. The data analytics will be the most coveted part of the app for users as it will provide them with the data and knowledge on those that open and view their card. Knowing who to follow up with and when is a value-add proposition no other digital business card brings to the table like MOBICARD™2.0

MOBICARD™ 2.0 is going to be a game changer. There is still no other company that will have the proprietary solutions that PTOP has under our existing granted patents. Additionally CEO Sodaitis has communicated with the patent attorney, and are planning on filing a brand new patent right around the time the new MOBICARD™ 2.0 apps launch to cover some new proprietary solutions/features. We will be the only company with data analytics which shows who has opened your card, who clicked your website, who clicked your social media, who clicked your audio message etc. allowing you to know who to spend your time pursuing. Certainly someone that spends 20 minutes clicking all of your links is a better lead then someone who spent 20 seconds and just opened your card. MOBICARD™ 2.0 will also enable QR card sharing so people can share their cards more quickly. Some of the edits to the apps PTOP is doing were simple design layouts that will make a world of difference for the user experience. For instance it was confusing the way Think Latitude had set up the 1^st page people view. Many people tried to “log in” as opposed to “sign up” the new screen will be a clear and concise easy to understand process.

“These fixes alone will add many more users in our opinion cutting down on confusion and frustration of the sign-up process. Think Latitude didn’t include a way for people to double check what password a user was typing in, and if you have fat thumbs like me, you would keep getting a generic error message when you tried to create a new account (because your passwords wouldn’t match the confirm password box) frustrating the user to try and guess what was the issue. That issue is solved by simply putting the (eye) icon so people can view their password and the confirm password to make sure they match up. I am extremely excited about debuting apps I can finally market after having to fix issue after issue, this new platform MOBICARD™ 2.0 will be the app platform we have all envisioned. We are looking at an end of September, early October launch. We will test for bugs and like last time allow beta testers to help us test the new apps if you are interested in being a beta tester for the new apps please send an email that includes what make & model phone you have along with your name and contact details to info@freemobicard.com . Headline = Beta Tester 2.0. We should be testing very soon. Once we make sure that there are no issues or that issues are fixed, we will begin a press, marketing, and media blitz like never done before,” concluded Chairman & CEO Josh Sodaitis.    

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.

Attachments

• PTOP Announces Q3 Financials Posted and gives Technology Update
• PTOP Announces Q3 Financials Posted and gives Technology Update

FAQ

What are the highlights of PTOP's Q3 financials?

Peer To Peer Network posted its Q3 financials on OTC Markets, indicating ongoing compliance with reporting requirements.

When is the expected launch date for MOBICARD™ 2.0?

The expected launch date for MOBICARD™ 2.0 is by early October 2022.

What features will MOBICARD™ 2.0 offer?

MOBICARD™ 2.0 will offer enhanced user experience with data analytics to track engagement and improved functionalities.

How is PTOP addressing its debt situation?

PTOP is focusing on debt reduction as part of its strategy to increase company assets and shareholder value.