PTOP - Chairman & CEO Joshua Sodaitis Announces Annual Letter to Shareholders
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McapMediaWire --Peer To Peer Network a.k.a MobiCard Inc. (OTC: PTOP ) todayreleased the following annual letter to shareholders:
Dear FellowShareholders:
Each year, I make it a priority to write to you on behalf ofPTOP. I believe that a clear and concise strategy outlined at thebeginning of the year helps keep the company focused on the strategicobjectives that we aim to achieve. Although I know that each of youhas different priorities, we all want the same thing, the value ofgrowth and the company to succeed in our goals.
In the year 2022, wefaced challenges at every turn: a lingering pandemic, unprecedentedgovernment actions, a highly polarized congressional U.S. election,mounting inflation, a war in Ukraine, and a dramatic economic fundingshortage that short-changed PTOP. We lost a member of our advisoryboard who decided to be involved in negotiating the MOBICARD™ 2.0tech contract and then disappeared after having promised to pay forthe contract. We hope he is okay and will return for the new year.Adding to the disruption, these events were unfolding while we learnedthat DWAC eligibility would not automatically make PTOP sharesaccepted for transfers to existing brokerage firms. Ultimately, wecould only afford half of the strategic objectives we had laid out forthe year 2022. Since I have been CEO dating back to 2018… 2022 wasthe 1 st year in which I was not able to knock down all ofthe strategic objectives I had laid out in my annual letter at thebeginning of that year.
But during this difficult time, we have a moment to put asideour differences, offer solutions and work with shareholders who maynot have been as active previously. In the year 2023, we have anopportunity to come together in defense of PTOP & MOBICARD™2.0’s future. We have seen in many years prior that the shareholdersof PTOP have come together previously during instances of conflict andcrisis. I am optimistic that we can reengage with previouslydisgruntled shareholders, & long-lost advisors, for all of ourinterests collectively. This juncture is also a moment when ourcompany needs to work together to achieve the mutually beneficialstrategic objectives, I laid out ahead for the year 2023.
Although I began thisannual letter to shareholders in reflection of 2022’s challenginglandscape, I remain proud of what our company, our employees, &1099 independent contractors have achieved, collectively andindividually. As you know, I have long championed the essential roleof transparency, and honesty in our community — MOBICARD™ 2.0 hasthe potential for bringing people together, enabling companies andindividuals to reach for their dreams, and being a source of strengthin entrepreneurism. Throughout this past challenging year, we neverstopped doing all the things we should be doing to serve ourshareholders and remain true to our transparent financial reportingrequirements.
Looking back on the last year and the past 4 years — startingfrom my time as CEO in late 2018 — it is clear that my financialdiscipline, constant investment in innovation, and ongoing developmentto better the company, is what enabled us to persevere in oursteadfast dedication to help shareholders and maintain our financialreporting requirements.
I’d like to note some steadfast principles that are worthrepeating. The first is that our management team goes to work everyday recognizing the enormous responsibility that we have to ourshareholders. Maintaining our ability to be listed on the OTC MarketsPink Sheets is the top priority.
Second, while I don’t run the company worryingabout the stock price in the short run, in the long run, ourstock 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 ourcapabilities. Whether looking back to 2017 when I first got on theboard and the stock was at $0.0001 per share, or in the years since,Peer To Peer Network’s shareholders' investments have resultedin our stock’s significant improvement. These important investmentsthat many of you will make directly into PTOP in the weeks and monthsto come will also drive our company’s future prospects and positionit to grow and prosper. I have no doubt in my mind that 2023 will seethe release of MOBICARD™ 2.0 and its debut will lead to significantimprovement in the appreciation of our stock price, and of the valueof the company overall.
In 2022 we announced the Kick-off of a complete front-endoverhaul. We completed that goal. We also announced a completeredesign that would include improvements to our web apps, and mobileapps, and make MOBICARD™ easier to understand, faster to use, andadd additional functionality. We were calling it MOBICARD™2.0. Weare $30,000 short of having MOBICARD™ 2.0 completed. That is why Iam discussing with our tech team the idea of perhaps releasingMOBICARD™2.0 in stages. This will allow the app to be out andgathering users while we push out updates to add the other additionalfunctionality and features. This will be a big decision for 2023 thatwill greatly depend on the capital available to the company come tothe end of February.
We have consistently described to you, our shareholders, thebasic principles, and strategies we use to build this company — frommaintaining a fortress balance sheet, constantly satisfyingregulators, continually improving risk governance and controls, andserving shareholders. We are proud to announce that our Q1 financialswill be completed soon, and we will continue to clear debt off of ourbooks, while not accepting any form whatsoever of any toxicdebt.
In 2022 weapplied and were approved for DWAC eligibility. In 2023 we plan tohold a majority vote to effectuate key corporate actions with FINRAthat will better suit the company and enable further investment fromexisting shareholders. Namely a restructure. I hope to conclude thisvote in the next week and will make an announcement accordingly.
In 2023 we plan to filea form C with the SEC. This will enable Reg CF or Crowd Funding. Thiswill enable PTOP to seek the much-needed funding to achieve strategicobjectives. Crowd Funding allows for an unlimited number ofunaccredited investors and also allows for PTOP to advertise andpromote the purchase of our stock directly through the company onsocial media and online. We plan to work with a specialty company thatwill host it on their site as well as promotes us to a list of theirinvestors.
In2023 we need to complete a PCAOB compliant audit in order to clearboth the Reg CF and in our opinion the corporate actions/restructure.
IfPTOP is able to obtain the funding necessary to complete theseobjectives, our stock should be well over a penny and there mostlikely will be an entirely new shareholder base interested in ourcompany right in time for our MOBICARD™2.0 apps to drop. We alsoplan to file an entirely new patent based on our MOBICARD™2.0solutions. This should build momentum.
The plan is for 2023 is simple. Make a pressrelease after the following completed strategic objectives:
- Complete a MajorityVote
- Engage a Crowd Funding Company
- Engage & Fundan Auditor
- Pay our Tech Team to get out Mobicard™2.0 intothe stores
- Complete the PCAOB audit
- File with FINRAfor a stock re-structure
- File form C with the S.E.C. for a RegCF = 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’ssuccess and accomplishments are founded on our commitment toEACH-OTHER. Shareholder value can be built only if you maintain ahealthy and vibrant company, which means doing a good job taking careof funding requirements, employees, and shareholder interests.Conversely, how can you have a healthy company if you neglect any ofthese stakeholders? As we have learned in 2022, there are myriad ofways that each stakeholder is dependent on the other. Adhering to ourbasic principles and strategies allows us to drive forward, andproperly manage our capital, as we have consistently demonstrated overthe past year.
Finally, the basis of our success is our people. Ourshareholders and new prospective shareholders that pay to build thecompany and maintain the regulatory requirements, PTOP’s CEO whomakes the strategic decisions, manages the risks, determines ourspending priorities. Whatever your view is of PTOP’s complexity andthe risks and opportunities ahead, having a great team of people —with guts, brains, integrity, and an enormous capability to navigatepersonally challenging circumstances while maintaining high standardsof professional excellence — is what ensures our prosperity, now andin the future. If I can round up the $150,000 necessary to move thecompany forward in the next two months we will clear more than halfthe list within 6 months. We will all be able to experience the BESTyear PTOP has ever had!
I plan to answer a bunch of shareholder questions on the PTOPmessage boards on Thursday so I encourage anyone with any commentsquestions, or concerns to reach out at www.ptopnetwork.com
Just think about wherethe stock can go if we knock down the objectives I have outlined. Itwill come down to funding to get those initiatives accomplished.together we can make this by far the best year ever.
I look forward totalking with all of you on our shareholder message boards at www.ptopnetwork.com . Like us onFacebook. Follow us on Twitter . MobiCard A new phase is coming soon!
Contact Info:
Joshua Sodaitis, Chairman & CEO MobiCard,Inc.
45 ProspectStreet 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 Networkaka MobiCard is the 1st of its kind digital contact/business card. Itwill greatly facilitate the ability of individuals and businesses toshare information and more effectively expand their visibility andbrand awareness. Mobicard is a combination of powerful mobile apps anddesktop apps with wide-ranging capabilities, including linking videos,user websites, all forms of contact information, and all of eachuser's social media links into one consolidated source. It is morethan just a digital business card; it's a "dynamic digitalfootprint." A subscriber can custom create their business card toinclude a company logo, profile photo, contact details, website, audiomessaging, social media links, and multi-media content. The platformsharing and alert system enable users to share their card viatext/SMS, e-mail, and global social media sites including Facebook,Twitter, LinkedIn, etc. The system provides the user instant textalerts when their card is opened or shared with third-party referralsall while building an invaluable database of contact leads.
Safe HarborStatement:
This release includes forward-looking statements within themeaning of Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended. TheCompany invokes the protections of the Private Securities LitigationReform Act of 1995. All statements regarding our expected futurefinancial position, results of operations, cash flows, financingplans, business strategies, products and services, competitivepositions, growth opportunities, plans and objectives of managementfor future operations, as well as statements that include words suchas "anticipate," "if," "believe,""plan," "estimate," "expect,""intend," "may," "could," "should,""will," and other similar expressions are forward-lookingstatements. All forward-looking statements involve risks,uncertainties, and contingencies, many of which are beyond ourcontrol, which may cause actual results, performance, or achievementsto differ materially from anticipated results, performance, orachievements. Factors that may cause actual results to differmaterially from those in the forward-looking statements include thoseset forth in our filings at www.sec.gov .The company is no longer a fully reporting SEC filing company. We areunder no obligation to (and expressly disclaim any such obligation to)update or alter our forward-looking statements, whether as a result ofnew information, future events, or otherwise.
ContactDetails
MobiCard, Inc
Joshua Sodaitis
+1617-651-2460
CompanyWebsite
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