MPHASE TECHS INC - XDSL STOCK NEWS

mPhase Technologies, Inc. (OTC Pink: XDSL) has appointed Angelia Hrytsyshyn as Chief Financial Officer, effective November 22, 2021. Hrytsyshyn has over 17 years of experience, including roles in commercial real estate and as Treasurer at Atapco Properties. She previously worked at Constellation, handling audits and a $1.5 billion Capital Project Plan. mPhase's CEO highlighted that her expertise aligns with the company's growth in the EV sector. mPhase focuses on developing a 5G-enhanced EV charging network and consumer engagement platform under the mPower brand.

mPhase Technologies (OTC Pink: XDSL) will host a conference call on November 22, 2021, at 4:30 p.m. ET, to discuss its fiscal first-quarter financial results. The company, focused on developing a 5G-enhanced EV charging network, emphasizes consumer engagement via data analytics. Interested participants can join the call by dialing 877-451-6152 (local) or 201-389-0879 (international) or access it via a live webcast. The company is also building a connected ecosystem to optimize consumer interactions powered by the mPower brand.

mPhase Technologies (OTC Pink: XDSL) has announced the signing of agreements to add around 1,440 mPower charging locations across Virginia in collaboration with the Virginia Asian American Store Owners Association (VAASOA). This expansion is part of their mPower ecosystem, integrating consumer engagement software, EV charging, and 5G connectivity. mPhase aims to generate monthly recurring revenue from these sites, which will include convenience stores and gas stations. The company is also exploring further network expansion in Virginia.

mPhase Technologies, Inc. (XDSL) achieved its first profitable year in 25 years with a net income of $1.7 million for fiscal 2021, compared to a $14.1 million loss in 2020. Fourth-quarter revenue slightly increased to $7.8 million. However, the company reported a net loss of $0.4 million for Q4 due to a significant rise in software development costs, up 205% to $1.8 million. Its cash position doubled to $2.5 million, and stockholders’ equity rose 112% to $11.7 million. Management emphasized plans for growth, particularly in the EV charging sector through the mPower ecosystem.

mPhase Technologies (OTC Pink: XDSL) announced the addition of 625 mPower locations in Illinois through agreements with the Asian American Store Owners Association. This initiative aims to enhance the EV charging network and consumer engagement platform. Each site will initially integrate consumer engagement software and may qualify for EV charging and 5G installations, generating recurring revenue. mPhase's strategy is to establish a connected ecosystem catering to EV drivers, with further expansion planned beyond Illinois.

mPhase Technologies, Inc. (XDSL) will host a conference call on October 14, 2021, at 4:30 p.m. ET to discuss its financial and operating results for the fiscal year ending June 30, 2021. The call will be led by CEO Anshu Bhatnagar and will feature the management team. The company is focused on developing a 5G-enhanced EV charging network and a consumer engagement platform, branded as mPower. This ecosystem aims to enhance consumer interactions through data analytics and AI, catering to the evolving green consumer market.

mPhase Technologies, Inc. (OTC Pink: XDSL) has announced an agreement to add approximately 1,200 mPower locations in Florida as part of its expansion strategy. This initiative, in collaboration with the Asian American Store Owners Association (AASOA), is focused on enhancing EV charging infrastructure and consumer engagement through 5G technology. mPhase aims to create recurring revenue streams from these installations, positioning itself as a key player in the shift towards electric vehicles. Site assessments will dictate further installation of EV charging stations and 5G services.

mPhase Technologies (OTC Pink: XDSL) announced its partnership with Oracle through the Oracle PartnerNetwork. This collaboration aims to integrate the mPower 5G-enhanced EV charging ecosystem with leading retail point of sale systems. The partnership will enable better consumer engagement by enhancing access to purchasing data and driving sales through tailored promotions. With Oracle serving customers in 180 countries and processing over 25,000 transactions per minute, this alliance positions mPhase to significantly improve retail interactions and customer satisfaction.

mPhase Technologies (OTC Pink: XDSL) has appointed three new independent board members—Suhas Subramanyamas, Chet White, and Tom Fore—aiming to enhance its strategic direction as it develops its 5G EV charging network and consumer engagement platform. These appointments reflect a commitment to an entrepreneurial culture, providing expertise vital for partnerships in the 5G and EV sectors. CEO Anshu Bhatnagar emphasized the need for active board members to support ongoing projects, showcasing a proactive approach to growth and innovation.