Peer To Peer Network (OTCMKTS:PTOP) aka MobiCard on August 30, 2022, announced complying with filing requirements and posting third-quarter financials to OTC Markets.
Trading Data
On Tuesday, PTOP stock up 66.67% to $0.0005 with more than 112.13 million shares, compared to volume of 6.30 million shares. The stock moved within a range of $0.0003 – 0.0007 after opening trade at $0.0003.
PTOP Announces Q3 Financials Posted and gives Technology Update
The firm believes that assets will significantly augment once MOBICARD 2.0 apps are finished.
Chairman & CEO Joshua Sodaitis said that getting rid of debt as well as augmenting assets is best for the balance sheet. The CEO added that the firm must increase company value and improve offerings for shareholders. PTOP confirmed that MOBICARD 2.0 is more than 50% completed.
PTOP had a conference call with both Nick Santana, Head of the Tech team, and the CEO on August 5. The aim was to seek a progress report detailing accomplishments and what more needs to be achieved.
Nick Santana said that the firm would meet the deadline and the company is 100% done with the wireframes. Santana further stated that this marks a 50% complete point on the contract. He further elaborated that the body of work entailing revamping
MOBICARD 1.0 mobile application and this functionality were outlined in the contract. Santana also said that the additional functionality, as well as implementation, consists of 35% of the project. Additionally, the balance of 65% of the coding sprint comprises of Xamarin structure incorporating the existing backend as well as the conversion of all views provided by PTOP’s designer.
Key Quote
PTOP believes that the assets will greatly increase once the MOBICARD™ 2.0 apps are completed as well. “Getting rid of our debt and increasing our assets, is a no-brainer for the balance sheet and my duty to increase the value of the company, things just keep getting better for the shareholders of PTOP” stated Chairman & CEO Joshua Sodaitis.
Technical Data
PTOP stock is trading above the 20-Day and 50-Day Moving averages of $0.0004 and $0.0004 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0005. The company has a total market capitalization of $113K.
