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CAMBRIDGE, Mass., July 18, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- MobiCard Inc. (OTC: PTOP) (“PTOP”, aka Peer to Peer Network) is pleased to announce that it has engaged its product development partner Think Latitude to add additional functionality to MobiCard core software technology which has already been fully completed by Think Latitude.
These two new features have been incorporated for its initial release, anticipated for the end of Q3 2019. These additional features, originally planned for version 1.5, have been sped up in order to accelerate monetization of MobiCard’s proprietary technology and to save future development expenses. MobiCard has paid $12,000 cash and $12,000 in restricted shares to Think Latitude for these additional features.
The first of the new features is a MobiCard administrator-based subscription module. This feature will allow the MobiCard administrator the ability to create a subscription plan, edit existing plans, assign plans to either individuals or organizations, choose billing intervals, set a price point, and set usage limits for organizations. The basis of the recommendation from Think Latitude management to recommend such a feature was to provide a foundation for the future releases. As more premium features get added, it will be imperative that different tiers of users are defined in the system who will pay different amounts for their subscriptions based on their package price. Users will also have the flexibility to upgrade and downgrade to different packages as they are added to the system. Additionally, MobiCard can also provide users and organizations with lower monthly rates if they choose them in an annual subscription. Organizations will have the ability to enjoy large discounts to entice their employees to utilize the MobiCard service and encourage their employees to exclusively network with the new digital footprint. MobiCard can capitalize on this feature by encouraging large enterprises of sales and marketing individuals to fully integrate their best practices and sales strategies in conjunction with the platform by getting incentivized to join early upon product launch.
“The beauty of the MobiCard platform is its scalability to grow and work alongside the future phases,” exclaims Misha Shah, COO of Think Latitude.
The second new feature is a MobiCard administrator-based promotion module. This feature will allow the MobiCard administrator the ability to add new promotions to either an individual user or organization, set a discount percentage, expiration date, duration, and track the usage of the promo codes. The feature proves to be a valuable asset for MobiCard in their plans to incentivize high volumes of users to join from specific organizations by providing them with promo codes for their entire organization to use the application ad-free. This also allows MobiCard to provide premium subscriptions plans for a discounted percentage to individuals who want to take advantage of this platform. The promo codes can also be utilized to coincide with special occasions to attract a slew of new users into the technologically advanced platform.
“Our organization evaluates this application from several different angles. The business operations team has made a valuable recommendation to implement the subscription and promotion plan modules to build a foundation which can bring in a strong user base upon the application launch. Joshua Sodaitis (CEO of MobiCard) has expressed his strong relationships with organizations who have a desire to bring in significant volumes of users to this platform. We believe these features will not only work well for short term monetization, but also demonstrate a proven premium approach which will contribute to the long term growth of the MobiCard platform as we approach the launch of phase one and start our discussions of unparalleled features for the next phase,” expresses Andy Sajnani, CEO of Think Latitude.
MobiCard CEO Joshua Sodaitis has worked diligently to collaborate with Think Latitude to develop his vision for a business contact solution fit for the 21st century.
“The SOW amendment that has been paid for and dually executed with Think Latitude is the second amendment we have paid for that gives us the ability to be the best platform on the market with a proprietary solution. This specific amendment will provide MobiCard the ability to monetize the app out of the gate with subscriptions, promotions, and exclusive lifetime membership opportunities that will build a foundation of loyal users. This paid for amendment brings the total amount of cash paid to Think Latitude to $103,666. In order to complete the entire new phase one of the application, we have a total of $63,332 to pay to finish the project. We are excited to complete the core business product’s new platform, which includes the web and mobile apps,” states Joshua Sodaitis of MobiCard. “I will be scheduling a conference call amongst all the accredited PTOP shareholders in order to determine the fundamentals of the company. I can accomplish both the core business product, which I anticipate will drive revenue into the company, as well as every other front, including but not limited to; the financials, the PCAOB auditors, the SEC edgarization agent(s), in order to remove the stop sign, pay the OTC markets to become current in our financial reporting. We plan to effectuate the previously initiated corporate actions with FINRA (Financial Industry Regulatory Authority) and accomplish a marketing campaign that will put us in every social media news feed in order to gain us exposure to the maximum number of users. The conference call I will invite accredited PTOP investors to in the next few weeks will allow for the schedule of priorities. I look forward to sharing more developments in accordance with the priorities expressed by the shareholders in the conference call. We are 95% done with the core business product. My belief is the core business product is the key fundamental to driving revenue and growth.”
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 prior 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.
Joshua Sodaitis, CEO
45 Prospect Street Cambridge, MA 02139