McapMediaWire -- Peer To Peer Network a.k.a MobiCard Inc. (OTC: PTOP) is proud to announce it has obtained the coveted “Pink Current Status” from the OTC Markets and has also made payment to Blue Chip Accounting to have 1st quarter financials completed soon.
“We fell out of compliance for Pink Current only because the attorney letter had not been submitted after we submitted our fiscal year-end financial reports. When I found out, I notified our attorney and he promptly sent in the attorney letter to cover the financial periods for the annual report required. It took OTC markets 3-5 business days from the time they received the attorney letter to put us back to “Pink Current Status”. I assume this will open the gates back up to new investors who otherwise would not be able to buy the stock,” commented Chairman & CEO Joshua Sodaitis.
“I remain steadfast in adhering to the proper reporting requirements. We paid the accountants for our Q1 financials and should have them completed and posted to OTC Markets by the end of February. I also remain committed in wiping off debt from the balance sheet,” elaborated CEO Sodaitis.
OTC Markets revised their Pink Current and Pink Limited guidelines on the information that’s required by companies to qualify for each, which are publicly available on the otcmarkets.com website.
According to the OTC Markets Group website: “The Pink Limited tier, and the information required to be qualified as Pink Limited is more basic — what you need under Rule 15c2-11.
Pink Current goes above that. In order to meet those guidelines, you’re going to need to have specific financial information — more than the Pink Limited guidelines. Both will allow a security to be quoted on an ongoing basis, but the Pink Current guidelines are more stringent. And with respect to the impact of being on one tier versus the other, brokers that are quoting those securities may place restrictions on the Pink Limited tier that they do not place on Pink Current.
Companies that trade on our Market are subject to the Blue Sky laws in the 50 states and four territories. That also is impacted depending on whether or not you are Current or Limited. As an example, for companies that come in Current that are making their information available to us, you would gain a state like Illinois. It will have an impact not just on a broker’s potential restrictions on trading Limited versus Current, but also on the Blue Sky status of individual states.” Quote directly from OTC Markets: Rule 15c2-11 Amendments FAQs - OTC Markets Blog .
This Pink Current Status for PTOP means that entire new states like Illinois (as used in the OTC Markets example above) amongst others, will now have access to buying shares of PTOP in the open market. This is an obvious benefit to shareholders and the company.
If you are curious to see the balance sheet, financial disclosure documents, or other financial reports we encourage you to view them on the OTC Markets group website.
“Next week I will be putting out some more exciting news as I strive diligently to knock down the strategic objectives I laid out in the Annual Letter To Shareholders. I believe this will finally be PTOP’s year. Together with the help of shareholders we can make our strategic goals a reality. I would say this is the BEST time to become a shareholder of PTOP,” concluded Chairman & CEO Joshua Sodaitis.
Contact Info:
Joshua Sodaitis, Chairman & CEO MobiCard, Inc.
45 Prospect Street Cambridge, MA 02139
Phone: 1-617-481-1971
Email: info@freemobicard.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 video's, 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 enables 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 to 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
Joshua Sodaitis, Chairman & CEO MobiCard, Inc.
+1 617-651-2460
