..the beginning of 2017, it's good to start an investigation where you are and what your plan is towards the future 
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Looking at the server-side configuration I would like to upgrade my php version to 7, but because mooSocial official still do not support this version I simply cannot upgrade.
In the wiki, the requirements are still PHP 5.3 with short tags enabled or PHP 5.4+, which both are "end of life" (version 5.5 as well). (see this article)
PHP version 5.6 is not actively developed anymore, only security updates are released until 31 Dec 2018.
@mooTeam, could you tell us what the planning will be for PHP version 7.0, or better 7.1?