MPHASE TECHS INC - XDSL STOCK NEWS

mPhase Technologies (OTC Pink: XDSL) announced the appointment of Richard Thorpe as the new CEO, transitioning to enhance senior leadership with industry experts. Thorpe, an authority in sustainability and former CEO of HFM Group, brings extensive experience in EV and technology sectors. He aims to leverage his previous involvement with mPhase's technology to execute a strategy that promotes sustainability and innovative mobility solutions. Thorpe has already begun working on the strategy during the transition, indicating a proactive approach to leadership.

mPhase Technologies (OTC Pink: XDSL) has appointed technology veteran Chris Smith as the new Chief Technology Officer (CTO). This move is aimed at enhancing the company's commitment to commercializing its mPower mobility services. Chris brings extensive international experience, including roles at digital signage and telecom firms. The creation of this role is expected to improve coordination among teams and accelerate the rollout of mobility solutions, particularly in the EV charging sector.

mPhase Technologies (OTC Pink: XDSL) appointed Ted Fagenson as Chief Commercial Officer to spearhead the expansion of its mPower mobility services, including EV charging at retail locations. Fagenson brings extensive experience from previous roles at Volta Charging and ChargePoint. His leadership aims to solve industry challenges and enhance commercial efforts. The management transition is part of a broader strategy to fill senior executive roles to support the company's growth in the rapidly evolving EV market.

mPhase Technologies (OTC Pink: XDSL) provided an operational update on August 2, 2022, announcing a significant management overhaul to foster growth. The board is implementing a refresh of upper management, including a new CEO, following a comprehensive review of its business. The company continues operations during this transition, focusing on the mPower EV+ ecosystem. Key updates include plans to install superchargers by early September and improvements in consumer engagement software. mPhase is pursuing government funding for EV projects and onboarding industry experts to accelerate deployment.

mPhase Technologies, Inc. (OTC Pink: XDSL) reported its fiscal 2022 third quarter results, reflecting 11% revenue growth to a record $8.5 million. This marks the company's twelfth consecutive quarter of year-over-year growth. The gross profit margin increased to 32.5%, up from 26.5% the previous year. Despite posting a net loss of $1.0 million, largely due to non-cash costs, stockholders’ equity improved 8% to $12.6 million. The company initiated its EV charging segment, securing sites in several states, and renewed a key software license agreement.

mPhase Technologies (OTC Pink: XDSL) has completed site selection for its first five mPower EV charging locations in Florida, located in Fort Myers, Orlando, Palm Bay, Palm Coast, and Scottsmoor. The selected sites include major brands such as Mobil and BP gas stations, and Maxx Foods supermarkets, featuring an average of four level 2 chargers. The company aims to build a robust presence in diverse markets, with over 1,200 additional sites planned. This strategic approach is expected to enhance their consumer engagement platform and drive future growth.

mPhase Technologies (OTC Pink: XDSL) announced the selection of eight initial locations for its mPower EV charging network in North Carolina. The sites include three gas stations and five hotels in cities such as Durham and Rocky Mount, each expected to feature four level 2 chargers. The strategic site selection emphasizes proximity to high traffic areas and partnerships with major brands like Exxon, BP, McDonald’s, and Subway. mPhase aims to expand its EV ecosystem, including charging, 5G connectivity, and data-driven services.

mPhase Technologies (OTC Pink: XDSL) has announced the selection of 11 initial locations for its mPower EV+ charging network in Virginia. These sites will each feature an average of four level 2 chargers, strategically placed near high-traffic roadways and popular convenience brands like McDonald’s and Subway. The company aims to enhance visibility and consumer engagement while rolling out a total of 430 charging sites in the state. Installation is set to begin shortly, marking an important step in mPhase's strategy to create a comprehensive EV ecosystem.

mPhase Technologies (XDSL) announced on May 19, 2022, that it has renewed its primary technology contract with a channel partner for an additional three years. This contract, initially established on June 30, 2019, generates approximately $8.4 million quarterly and more than $33 million annually. The licensing agreement allows the partner to utilize mPhase's cloud-based software, enhancing their business solutions. The company's Chairman and CEO emphasized the importance of this contract in solidifying a recurring revenue base while expanding the mPower EV charging platform.