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Mobicard announces the completion and results of its internal analysis of Think Latitude’s comprehensive review of its Mobicard code - a new vision, update on procedural process, and exciting new product developments

1059 Days ago

CAMBRIDGE, Mass., Sept. 26, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Mobicard Inc. aka Peer-To-Peer Network (OTC:PTOP) is pleased to announce it has completed its internal review of Think Latitude’s comprehensive code analysis of its Mobicard product and has already begun to take the next steps.  The team at Think Latitude recommends that we strategize for the future of the Mobicard application to address several components that include, but are not limited to, the following:

  1. Robust web application for Mobicard that includes the current functionality of Mobicard along with full implementation of the 25-action items, several of which were crucial to the original functionality of Mobicard along with enhancements.  This will be built on new supported framework for modern web browsers i.e. Laravel, CodeIgniter, Ruby, Python, etc.
  2. One native iOS application for Mobicard which can run on Apple-based smartphones.
  3. One native Android application for Mobicard which can run on Android-based smartphones.
  4. A master admin panel which allows respective business decision-makers from Mobicard to fully analyze their customer base.
  5. A customer portal which allows users of the Mobicard application to see their Mobicard activity from the user base they send it to.

Joshua Sodaitis has been Mobicard CEO for a little over two months, and has initiated a complete reorganization, vision shift, and a restructure from the ground up of all former management & CEO’s former processes.  The new vision is to offer two versions of Mobicard. This new vision includes top of the line technology on a new and improved platform.

 (1) A free version that would allow Mobicard to demonstrate its tremendous value to businesses of all sizes and industries, in order to expand the user base of Mobicard more rapidly. This free version could drive revenue to the company, allowing for monetization through banner ads and other forms of advertisements.

 (2) A paid for subscription-based version that will be ad-free.

CEO Joshua Sodaitis said, “The former application and process was flawed. Through my efforts of improving the product with the right team and people, we will clean up the process and make it more efficient.  I think this will allow us to sell more, scale faster, improve margins, and lower our expenses.”

Mobicard plans to create all new marketing materials to reflect a new improved platform.  This would include social media account(s) to separate entirely form all the former management’s efforts. 

Mobicard, under the new CEO’s management, intends to create an entirely new website, reestablish former relations, and create and balance new relationships for the progression of the company.

“In my short time as CEO I have been dedicated to advancing the interests of shareholders, with an emphasis on improving and modernizing the fundamentals of the company through the core business product.  After reviewing Think Latitude’s comprehensive code analysis, and many hours of deliberation, I have decided it will be a better business decision for the company by time, and cost, to develop a new improved platform with new features as well as upgrading previous features. Additionally, the web application can serve as the key backend to developing a native application, which can be cross-implemented to lower the time frame compared to implementing them separately. It will also cost less to develop the fundamentals of the core business product in this manner.  Estimation for the recommended items will require ongoing communication and specific recommendations and requirements between Mobicard and Think Latitude, and can be done in a phase-based approach to meet any specific deadlines that we may decide for the calendar/fiscal year,” stated Josh Sodaitis.

“After we redesign Mobicard to a new technologically advanced platform and migrate existing users appropriately as per the discretion of Mobicard’s management, we can determine a phase out approach to shut down the existing AWS servers where the current Mobicard website and application reside.  With the new Mobicard application, there will be a complete revamp of the Mobicard website where users can seamlessly access the Mobicard application from any platform including mobile devices, tablets, and computers.  Our strategic initiative for developing the new Mobicard applications will not only include plans to improve the performance, but will also provide a vastly improved user experience for the customers,” expressed Andy Sajnani, CEO of Think Latitude.

Joshua Sodaitis, CEO of Mobicard, went on to articulate, “I believe with my vision implemented properly, I should easily be able to expand revenues, but more importantly with the proper planning, management, numbers, data and team, we should be able to increase the overall valuation for long-term strategic expansion.  What’s important to me is that this company will survive and eradicate the former management team’s mistakes, thrive in saturating the market, and be able to grow exponentially in the future.” 

Mobicard Inc. has submitted a PowerPoint presentation to Think Latitude that will be used as a template for Think Latitude to put together a Statement of Work proposal in order to determine cost, timeframe for completion, and new feature additions including expanding to native applications. After the SOW is submitted to Mobicard Inc. from Think Latitude, they will enter into negotiations between the two companies. After these negotiations are completed, the two companies will settle on an arrangement based upon equity and cash to have the new improved vision and product completed. Both companies would like to pursue a continued relationship and advance the technology together.

Joshua Sodaitis, CEO, concluded: “My persistent, continuous action and dedication to removing previous inefficient management that do not perform, and by bringing the right people to the team, coupled with my dedication to advancement and implementing my new vision, is what will continue to advance the company forward. I look forward to the next steps with Think Latitude in our negotiations going forward.”   

MobiCard owns and markets its core technology, a SaaS mobile solution branded C2A MobiCard, a scalable mobile business card software platform that enables users to create a customized web-based personalized mobile app that is sharable by text SMS, email, digital and social media. Subscribers are able to track when the card opens, views and shares all while validating and analyzing new leads and referrals in real time, thereby knowing who and when to follow up www.freemobicard.com

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.

Joshua Sodaitis, CEO
MobiCard, Inc.
45 Prospect Street, Cambridge, MA  02139
Phone: 1-617-651-2460
Email: info@freemobicard.com


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