PTOP - PTOP Renegotiates MOBICARDâ„¢2.0 Contract - MOBICARDâ„¢1.5 will Be Released First
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Peer To Peer Networka.k.a MobiCard Inc. (OTC: PTOP) (“PTOP”) is proud to announce thatwe have renegotiated the MOBICARD™2.0 contract so that a release ofthe improved apps can be released sooner.
“Due to a lack of funding, it has beendifficult to advance all of the interests of Peer To Peer Network,specifically some of the terms of payment to the developers. I hadhosted a shareholder meeting where I detailed that we had hit thehalfway mark on the development contract in August of 2022. Iexpounded that in order to complete it we needed to be able to payanother $20,000. After numerous months of no compensation and the appdevelopment at a standstill, Nicholis Santana and Jay Wallace came tome with a solution to bring a MobiCard 1.5 to the stores. Theyimplored that they would be willing to do a release prior to the fulllaunch and an amendment was made to compensate in shares for this taskand resume cash payment on MobiCard 2.0 after. I was very pleased tohave the developers willing to work with me on the contract to make anamendment that would get us an app in the app stores without having toshell out that cash up front,” explained CEO Joshua Sodaitis.
The new amendment tothe original MOBICARD™2.0 contract signed by all parties (Developersand Peer To Peer Network) now stipulates that the developers willreceive shares in PTOP to release a MOBICARD™1.5 version of the appsand then resume cash payments after in order to have the fullMOBICARD™2.0 released.
The MOBICARD™1.5 version will not include the enterprisefeatures, nor the paid subscriptions, or advertising. There will be norevenue generating ability until the developers are compensated theircash payments as stipulated in the original agreement.
“Look, I am excitedabout MOBICARD™ and the plethora of invitations both myself and JayWallace feel will change the industry as a whole. We want MOBICARD™to thrive. We agreed to take shares because we believe in ourselvesand in the application. I told Josh after we release MOBICARD 1.5 hecan start to sign up users. But that is only half the job, the otherhalf is generating positive momentum and growing the user base. Plus,Josh can put out press every time we add the other features thereforecreating a real BUZZZZ beforehand prior to the full MOBICARD™2.0release. I think we are looking at 3-4 months and we have theMOBICARD™1.5 apps in the app stores,” expounded Developer,Nicholis Santana.
Hopefully after YOU the shareholders see the supreme jobcompared to the last apps and the fact that EVERYTHING works will makea BIG difference for the shareholders and will increase the value ofthe company overall.
PTOP’s plan will be to release the MOBICARD™1.5 app withinthe next 5 months. The plan will be to be able to build a buzz for theapps and be able to make increased press announcements as furtherfunctionality is added after the cash payments are made.
“I am thrilled thatthe tech developers were willing to make this amendment to thecontract, 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 wewere left with from Think Latitude. Not only will they be easier touse, but they will have easy steps to follow. The biggest change isthe look and feel of the application, to increase usability and theoverall flow. I will still need to get the developers paid their cashcomponent of $20,000 and be able to pay for the AWS servers that costroughly $1,200 per month in order to have the revenue generatingability, but having an AWESOME app in the app stores will deliver usthe ability to start to get a larger user base prior to theMOBICARD™2.0 launch,” concluded CEO Sodaitis.
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Contact Info:
Joshua Sodaitis, Chairman & CEO MobiCard,Inc.
45 ProspectStreet Cambridge, MA 02139
Phone: 1-617-481-1971
Email: info@freemobicard.com
Investor website: www.ptopnetwork.com
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 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.
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