MPHASE TECHS INC - XDSL STOCK NEWS

Gaithersburg, MD, Aug. 06, 2021 – mPhase Technologies, Inc. (OTC Pink: XDSL) will present at the Q3 Virtual Investor Summit on August 17, 2021, at 10:15 a.m. Eastern time. CEO Anshu Bhatnagar will engage in one-on-one meetings with investors and host a virtual presentation. Registration is required for participation. mPhase focuses on developing a 5G-enhanced electric vehicle (EV) charging network and consumer engagement platform, branded as mPower. This ecosystem enhances consumer engagement through data analytics, aiming to empower green consumers.

mPhase Technologies (OTC Pink: XDSL) announced the launch of its mPower 5G-enhanced EV charging network. The first phase involves pilot programs with various retailers starting in July, focusing on consumer engagement through AI-driven promotions. The goal is to create a synergistic ecosystem that connects consumers and retailers during EV charging. The company aims to establish itself as a preferred partner in the EV sector and has received numerous requests for supercharger sites. Revenue generation is expected to begin in 2021, enhancing business prospects.

mPhase Technologies, Inc. (OTC Pink: XDSL) announces its participation in the LD Micro Invitational XI from June 8-10, 2021. CEO Anshu Bhatnagar will present virtually on June 10 at 11:30 a.m. EDT. The event aims to connect investors and provide insights into mPhase's innovative technology in EV charging and consumer engagement. A live audio webcast will be available for those interested. For registration and more details, visit the LD Micro website.

mPhase Technologies (OTC Pink: XDSL) has appointed Venkat Kodumudi as Chief Operating Officer, bringing over 29 years of expertise in information technology. His previous roles include CTO at FocalCXM and Director at CGI. The company aims to diversify its revenue streams through new projects in learning, travel, and data analytics, while also hiring staff to support growth. CEO Anshu Bhatnagar expressed excitement about this leadership change during a critical period for the company.

mPhase Technologies (OTCQB: XDSL) reported its fiscal third quarter results on May 19, 2021, showcasing a slight revenue increase to $7.7 million, up from $7.6 million year-over-year. The gross profit margin rose to 26.5%, with consistent operating income of $1.2 million and a net income of $0.3 million, marking the fifth consecutive profitable quarter. The company's balance sheet strengthened with $7.0 million in financing aimed at enhancing growth in 5G and EV charging sectors.

mPhase Technologies (OTC: XDSL) has engaged MZ Group to enhance its investor relations and financial communications strategy. This partnership aims to boost visibility within the investment community and highlight mPhase's diverse revenue streams stemming from its five operational segments, including AI and online training. CEO Anshu Bhatnagar emphasized 2020 as pivotal, citing the acquisition of Learning Track and the strong growth of its SaaS business. The company is targeting strategic partnerships in battery technology and personalized vacation planning to increase growth.

mPhase Technologies, Inc. (OTC: XDSL) announced a Securities Purchase Agreement with two accredited investors, raising over $3 million. This capital was secured through a convertible promissory note with a fixed conversion price of $0.20 per share, bearing 5% interest and maturing on May 5, 2022. CEO Anshu Bhatnagar noted this marks the company's first institutional investment, which could facilitate a future national exchange listing. The funds will accelerate mPhase's multi-year growth plan aimed at creating a consumer engagement ecosystem across various sectors.

mPhase Technologies (OTC: XDSL) announced the successful settlement of $784,000 in legacy debt for a one-time payment of $235,000. This capital structure cleanup has removed all prior variable-rate convertible notes and significantly strengthened the company's balance sheet. The CEO expressed satisfaction with these developments, emphasizing the protection of shareholders from dilution and increased cash reserves for operational initiatives. mPhase aims to innovate and create sustainable, long-term value for shareholders moving forward.

mPhase Technologies, Inc. (OTC: XDSL) has secured $2.0 million in fixed-rate institutional financing to boost growth initiatives. The funding comes through a convertible promissory note with a fixed conversion price of $0.20 per share, maturing on April 6, 2022, and carrying a 5% annual interest rate. CEO Anshu Bhatnagar stated this financing will help pay off existing convertible debt, minimizing shareholder dilution and positioning the company for revenue growth.

mPhase is focused on creating sustainable long-term value for its shareholders.