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MobiCard Inc. Announces Retention of Blue Chip Accounting and Completion of the Comprehensive Code Analysis by Think Latitude

1059 Days ago

CAMBRIDGE, Mass., Aug. 28, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Mobicard, Inc. (OTC:PTOP) has successfully retained and entered into a new contractual relationship with Blue Chip Accounting LLC, a seasoned firm with expertise in working with publicly traded companies.  

Zach Bradford, Partner of Blue Chip Accounting stated, “We look forward to working with Mobicard to help their management team achieve their goals of increasing shareholder value through accurate and timely financial reporting. The audit and review process can be a time consuming task, our focus is to make it as easy and seamless as possible for their management team.”

Blue Chip was retained to begin to:

  • Assist management in the preparation of US GAAP based financial statements and related notes to the financial statements.
  • Prepare reconciliations and schedules related to any adjusting entries necessary for the audits and reviews. 
  • Propose standard, adjusting, or correcting journal entries or other changes affecting the financial statements to the management. 
  • Provide auditor support as it relates to our preparation of the financial statements and any adjustment to the Company’s records requested during reviews or audits. 
  • Assist the Company’s SEC Council in the preparation of the Company’s public filings.
  • Prepare work papers to present to Mobicard’s audit firm, BF Borgers.             

This arrangement enables Mobicard to pay for work delivered as per the reporting period schedule. This ensures Mobicard has flexibility in proceeding with the financials.

“I want the public to understand we are working hard to correct the former management team’s inability to deliver on the company’s financial reporting. Mobicard has now begun working with Blue Chip Accounting to progress the company forward, accomplish our goals, deliver on our objectives, assist with financial transparency, and ongoing financials maintenance. I believe this new relationship will increase shareholder value for the long term,” says Joshua Sodaitis, CEO, MobiCard, “This is a critical step for us and for our shareholders.”

The execution of this contract comes at a critical time as MobiCard works to show results and get all financials current. The company continues to seek accredited investors interested in assisting the company’s advancement.

In recent company developments, Think Latitude, an app incubator/innovation hub featured on CNBC’s popular TV show “The Job Interview” (Season 1 Episode 4), completed a comprehensive analysis and review of MobiCard’s code. As a result of this analysis, Mobicard learned that it will be able to implement part of the code and include more advanced technology to create a robust platform. Mobicard will announce a more detailed plan of action of how Mobicard will advance the fundamentals of the core business product after the internal review of Think Latitude’s report is concluded.

“After an extensive and thorough analysis of Mobicard’s existing code, we feel that the Mobicard platform has immense potential to capture significant market share in the realm of digital business exchange amongst potential clients.  We feel that our ability to implement the latest technologies into the existing platform can take Mobicard to greatest lengths and grow their earnings for their shareholders,” says Misha Shah, COO of Think Latitude.

About Blue Chip Accounting, LLC: Blue Chip Accounting, LLC is a full-service accounting firm that provides accounting solutions built to fit the individual needs of a business. Whether a business needs basic bookkeeping services, mid-level accounting support, controller level services, or a fully integrated accounting team to handle all of a Company’s accounting needs from data entry to management reports, Blue Chip Accounting offers solutions to fill those gaps

MobiCard Inc. a.k.a Peer to Peer Network ("PTOP") 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. 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: 1-617-651-246 Email: info@freemobicard.com

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