PTOP - PTOP Announces Pink Current Status! PTOP Also Announces Payment Completed To Accountants For Q1 Financial Statements To Be Completed Soon!
(NewsDirect)
McapMediaWire --Peer To Peer Network a.k.a MobiCard Inc. (OTC: PTOP ) is proudto announce it has obtained the coveted “Pink Current Status” fromthe OTC Markets and has also made payment to Blue Chip Accounting tohave 1 st quarter financials completed soon.
“We fell out ofcompliance for Pink Current only because the attorney letter had notbeen submitted after we submitted our fiscal year-end financialreports. When I found out, I notified our attorney and he promptlysent in the attorney letter to cover the financial periods for theannual report required. It took OTC markets 3-5 business days from thetime they received the attorney letter to put us back to “PinkCurrent Status”. I assume this will open the gates back up to newinvestors who otherwise would not be able to buy the stock,”commented Chairman & CEO Joshua Sodaitis.
“I remain steadfastin adhering to the proper reporting requirements. We paid theaccountants for our Q1 financials and should have them completed andposted to OTC Markets by the end of February. I also remain committedin wiping off debt from the balance sheet,” elaborated CEO Sodaitis.
OTC Marketsrevised their Pink Current and Pink Limited guidelines on theinformation that’s required by companies to qualify for each, whichare publicly available on the otcmarkets.com website.
According to the OTCMarkets Group website : “ The Pink Limited tier, and theinformation required to be qualified as Pink Limited is more basic —what you need under Rule 15c2-11.
Pink Current goes above that. In order tomeet those guidelines, you’re going to need to have specificfinancial information — more than the Pink Limited guidelines. Bothwill allow a security to be quoted on an ongoing basis, but the PinkCurrent guidelines are more stringent. And with respect to the impactof being on one tier versus the other, brokers that are quoting thosesecurities may place restrictions on the Pink Limited tier that theydo not place on Pink Current.
Companies that trade on our Market are subjectto the Blue Sky laws in the 50 states and four territories. That alsois impacted depending on whether or not you are Current or Limited. Asan example, for companies that come in Current that are making theirinformation available to us, you would gain a state like Illinois. Itwill have an impact not just on a broker’s potential restrictions ontrading Limited versus Current, but also on the Blue Sky status ofindividual states.” Quote directly from OTC Markets: Rule 15c2-11 Amendments FAQs - OTC Markets Blog .
This PinkCurrent Status for PTOP means that entire new states like Illinois (asused in the OTC Markets example above) amongst others, will now haveaccess to buying shares of PTOP in the open market. This is an obviousbenefit to shareholders and the company.
If you are curious to see the balance sheet,financial disclosure documents, or other financial reports weencourage you to view them on the OTC Markets group website.
“Next week I will beputting out some more exciting news as I strive diligently to knockdown the strategic objectives I laid out in the Annual Letter ToShareholders. I believe this will finally be PTOP’s year. Togetherwith the help of shareholders we can make our strategic goals areality. I would say this is the BEST time to become a shareholder ofPTOP,” concluded Chairman & CEO Joshua Sodaitis.
ContactInfo:
JoshuaSodaitis, Chairman & CEO MobiCard, Inc.
45 Prospect StreetCambridge, MA 02139
Phone: 1-617-481-1971
Email: info@freemobicard.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 linkingvideo's, user websites, all forms of contact information, and allof each user's social media links into one consolidated source. Itis more than just a digital business card; it's a "dynamicdigital footprint." A subscriber can custom create their businesscard 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 theircard via text/SMS, e-mail, and global social media sites includingFacebook, Twitter, LinkedIn, etc. The system provides the user instanttext alerts when their card is opened or shared to third partyreferrals all while building an invaluable database of contactleads.
SafeHarbor Statement:
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 our control,which may cause actual results, performance, or achievements to differmaterially from anticipated results, performance, or achievements.Factors that may cause actual results to differ materially from thosein the forward-looking statements include those set forth in ourfilings 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
Joshua Sodaitis, Chairman & CEO MobiCard,Inc.
+1 617-651-2460
Copyright (c) 2023 TheNewswire - All rights reserved.