Chairman & CEO Joshua Sodaitis Announces Annual Letter to Shareholders
Cambridge, MA,
|
February 07, 2023 10:00 AM Eastern Standard Time
McapMediaWire -- Peer To Peer Network a.k.a MobiCard Inc. (OTC: PTOP) today released the following annual letter to shareholders:
Dear Fellow Shareholders:
Each year, I make it a priority to write to you on behalf of PTOP. I believe that a clear and concise strategy outlined at the beginning of the year helps keep the company focused on the strategic objectives that we aim to achieve. Although I know that each of you has different priorities, we all want the same thing, the value of growth and the company to succeed in our goals.
In the year 2022, we faced challenges at every turn: a lingering pandemic, unprecedented government actions, a highly polarized congressional U.S. election, mounting inflation, a war in Ukraine, and a dramatic economic funding shortage that short-changed PTOP. We lost a member of our advisory board who decided to be involved in negotiating the MOBICARD™ 2.0 tech contract and then disappeared after having promised to pay for the contract. We hope he is okay and will return for the new year. Adding to the disruption, these events were unfolding while we learned that DWAC eligibility would not automatically make PTOP shares accepted for transfers to existing brokerage firms. Ultimately, we could only afford half of the strategic objectives we had laid out for the year 2022. Since I have been CEO dating back to 2018… 2022 was the 1st year in which I was not able to knock down all of the strategic objectives I had laid out in my annual letter at the beginning of that year.
But during this difficult time, we have a moment to put aside our differences, offer solutions and work with shareholders who may not have been as active previously. In the year 2023, we have an opportunity to come together in defense of PTOP & MOBICARD™ 2.0’s future. We have seen in many years prior that the shareholders of PTOP have come together previously during instances of conflict and crisis. I am optimistic that we can reengage with previously disgruntled shareholders, & long-lost advisors, for all of our interests collectively. This juncture is also a moment when our company needs to work together to achieve the mutually beneficial strategic objectives, I laid out ahead for the year 2023.
Although I began this annual letter to shareholders in reflection of 2022’s challenging landscape, I remain proud of what our company, our employees, & 1099 independent contractors have achieved, collectively and individually. As you know, I have long championed the essential role of transparency, and honesty in our community — MOBICARD™ 2.0 has the potential for bringing people together, enabling companies and individuals to reach for their dreams, and being a source of strength in entrepreneurism. Throughout this past challenging year, we never stopped doing all the things we should be doing to serve our shareholders and remain true to our transparent financial reporting requirements.
Looking back on the last year and the past 4 years — starting from my time as CEO in late 2018 — it is clear that my financial discipline, constant investment in innovation, and ongoing development to better the company, is what enabled us to persevere in our steadfast dedication to help shareholders and maintain our financial reporting requirements.
I’d like to note some steadfast principles that are worth repeating. The first is that our management team goes to work every day recognizing the enormous responsibility that we have to our shareholders. Maintaining our ability to be listed on the OTC Markets Pink Sheets is the top priority.
Second, while I don’t run the company worrying about the stock price in the short run, in the long run, our stock price is a measure of the progress we have made over the years. This progress is a function of continual investments in our people, systems, and product, in good and bad times, to build our capabilities. Whether looking back to 2017 when I first got on the board and the stock was at $0.0001 per share, or in the years since, Peer To Peer Network’s shareholders' investments have resulted in our stock’s significant improvement. These important investments that many of you will make directly into PTOP in the weeks and months to come will also drive our company’s future prospects and position it to grow and prosper. I have no doubt in my mind that 2023 will see the release of MOBICARD™ 2.0 and its debut will lead to significant improvement in the appreciation of our stock price, and of the value of the company overall.
In 2022 we announced the Kick-off of a complete front-end overhaul. We completed that goal. We also announced a complete redesign that would include improvements to our web apps, and mobile apps, and make MOBICARD™ easier to understand, faster to use, and add additional functionality. We were calling it MOBICARD™2.0. We are $30,000 short of having MOBICARD™ 2.0 completed. That is why I am discussing with our tech team the idea of perhaps releasing MOBICARD™2.0 in stages. This will allow the app to be out and gathering users while we push out updates to add the other additional functionality and features. This will be a big decision for 2023 that will greatly depend on the capital available to the company come to the end of February.
We have consistently described to you, our shareholders, the basic principles, and strategies we use to build this company — from maintaining a fortress balance sheet, constantly satisfying regulators, continually improving risk governance and controls, and serving shareholders. We are proud to announce that our Q1 financials will be completed soon, and we will continue to clear debt off of our books, while not accepting any form whatsoever of any toxic debt.
In 2022 we applied and were approved for DWAC eligibility. In 2023 we plan to hold a majority vote to effectuate key corporate actions with FINRA that will better suit the company and enable further investment from existing shareholders. Namely a restructure. I hope to conclude this vote in the next week and will make an announcement accordingly.
In 2023 we plan to file a form C with the SEC. This will enable Reg CF or Crowd Funding. This will enable PTOP to seek the much-needed funding to achieve strategic objectives. Crowd Funding allows for an unlimited number of unaccredited investors and also allows for PTOP to advertise and promote the purchase of our stock directly through the company on social media and online. We plan to work with a specialty company that will host it on their site as well as promotes us to a list of their investors.
In 2023 we need to complete a PCAOB compliant audit in order to clear both the Reg CF and in our opinion the corporate actions/ restructure.
If PTOP is able to obtain the funding necessary to complete these objectives, our stock should be well over a penny and there most likely will be an entirely new shareholder base interested in our company right in time for our MOBICARD™2.0 apps to drop. We also plan to file an entirely new patent based on our MOBICARD™2.0 solutions. This should build momentum.
The plan is for 2023 is simple. Make a press release after the following completed strategic objectives:
- Complete a Majority Vote
- Engage a Crowd Funding Company
- Engage & Fund an Auditor
- Pay our Tech Team to get out Mobicard™2.0 into the stores
- Complete the PCAOB audit
- File with FINRA for a stock re-structure
- File form C with the S.E.C. for a Reg CF = Crowd Funding / Get approved
- Engage with Investors Hub (Home Take over Page placed adds)
- Release Mobicard™ 2.0
- Promote User Growth through a well-funded PR & Marketing campaign.
If you look deeper, you will find that PTOP’s success and accomplishments are founded on our commitment to EACH-OTHER. Shareholder value can be built only if you maintain a healthy and vibrant company, which means doing a good job taking care of funding requirements, employees, and shareholder interests. Conversely, how can you have a healthy company if you neglect any of these stakeholders? As we have learned in 2022, there are myriad of ways that each stakeholder is dependent on the other. Adhering to our basic principles and strategies allows us to drive forward, and properly manage our capital, as we have consistently demonstrated over the past year.
Finally, the basis of our success is our people. Our shareholders and new prospective shareholders that pay to build the company and maintain the regulatory requirements, PTOP’s CEO who makes the strategic decisions, manages the risks, determines our spending priorities. Whatever your view is of PTOP’s complexity and the risks and opportunities ahead, having a great team of people — with guts, brains, integrity, and an enormous capability to navigate personally challenging circumstances while maintaining high standards of professional excellence — is what ensures our prosperity, now and in the future. If I can round up the $150,000 necessary to move the company forward in the next two months we will clear more than half the list within 6 months. We will all be able to experience the BEST year PTOP has ever had!
I plan to answer a bunch of shareholder questions on the PTOP message boards on Thursday so I encourage anyone with any comments questions, or concerns to reach out at www.ptopnetwork.com
Just think about where the stock can go if we knock down the objectives I have outlined. It will come down to funding to get those initiatives accomplished. together we can make this by far the best year ever.
I look forward to talking with all of you on our shareholder message boards at www.ptopnetwork.com. Like us @MobiCard on Facebook. Follow us on Twitter @freemobicard. MobiCard A new phase is coming soon!
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 videos, 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 enable 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 with 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.
Contact Details
MobiCard, Inc
Joshua Sodaitis
+1 617-651-2460
Company Website
