Is There Support Here? Peer to Peer Network (OTCMKTS:PTOP)

Peer Network (OTCMKTS:PTOP) tried to rally Wednesday, but has since sold off and is now trading below its open. At one point, the stock was up 33% but could not hold on, as it looks like the stock hit resistance at a declining trend line along the top of the highs.

Market Action

As of 12:35, PTOP stock is trading at $ 0.0015, unchanged on the day.. it has a huge volume of 216.23 million, well above its 30-day average volume of 20.76 million shares. The stock opened at .0015 and has a range of $0.0014 – 0.0020.

Peer to Peer Network Announces Change in Name

• MobiCard Inc name has again being changed to Peer to Peer Network
• PTOP previously was called Peer to Peer Network
• Name change reversal is because OTC Markets requires that the state corporate name match up with the name Financial Industry Regulatory Authority (FINRA) recognizes for the company.
• PTOP could never change its name with FINRA. Thus, there was a mismatch in name with the state of Nevada and with FINRA.
• This name change reversal will allow the company to finish its application to OTC Markets to get its financial information current given SEC’s new rules for brokers under Rule 15c-211.

Chairman and CEO Joshua Sodaitis commented, “The company’s main product remains MobiCard. But we were told by the OTC markets that we needed to change the name on record with the Secretary of State of NV to line up with the name of our stock and the name that FINRA (Financial Industry Regulatory Authority) recognizes in order for OTC Markets to approve our application. So, we got the vote, and I submitted the paperwork to do the name change with the Secretary of State in NV.”

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