Replies to post #15574 on Peer To Peer Network (PTOP)

[DaReal]

According to the PR from 2016 and per the last 8K they are planning to do a 1:400 R/S

PR:

DANVERS, Mass., May 06, 2016 (GLOBE NEWSWIRE) -- MobiCard Inc. aka Peer to Peer Network (OTC Symbol:PTOP) www.freemobicard.com has been working diligently with a local CPA that has been contracted by the Company to complete its financials for audit review.

The Company had previous filed a name change from Peer to Peer Network to MobiCard Inc. and a 1-400 reverse stock split with the State of Nevada on 12/31/15 and had submitted the filing along with a stock symbol change to Finra shortly thereafter. The Company failed to meet the requirements on Finra in its initial filing, therefore on 3/15/16 the Company received notice from Finra that the case was deemed lapsed with no further action.

In order to approve the various corporate actions, one of Finra’s requirements is that the Company be current in their SEC financial reporting.

The Company plans to re-submit the required filing with Finra as soon as the Company becomes current in its financial reporting so that the planned restructure can move forward.

Source: https://globenewswire.com/news-release/2016/05/06/837350/0/en/MobiCard-Inc-aka-Peer-to-Peer-Network-has-Contracted-a-local-CPA-to-bring-the-Company-Current-in-its-SEC-Financial-Reporting-so-that-it-can-Complete-its-Impending-Restructure.html


And again per 8K filed in Jan'17 (before they decided to go dark):

Milestones:

Completion of three assigned tasks from the Board of Directors:

1.) Participate in funding requirements for growth

2.) Contact and negotiate with all Vendors, former employees and or contractors necessary terms to continue main business

3.) License of product with third parties

4.) CEO will actively participate in the FINRA process to complete various corporate actions such as 1-400 reverse stock split, name and symbol change

5.) CEO will work with accountant to bring the Company current in its financial reporting and will effectuate necessary public Company filings with OTC Markets

6.) CEO will complete capital re-structure that includes the conversion of Code2action Inc.’s Convertible Note on a 1 share for 1 share basis to approximately 82,500,000 shares of common stock in Peer to Peer Network which will represent 90% ownership in Peer to Peer Network aka MobiCard Inc.

7.) CEO agrees employ former CEO, Christopher Esposito to a long term employment agreement to remain as head of business development. Employment agreements will be executed simultaneously by both parties

Source: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11803108

Hate it or like it, but so far a 1/400 R/S is pre-announced per their latest available Filings.

GL and Happy New Year!