PTOP Renegotiates MOBICARD™2.0 Contract - MOBICARD™1.5 will Be Released First
Cambridge, MA
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April 26, 2023 10:30 AM Eastern Daylight Time
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.
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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.
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