EAST RUTHERFORD, New Jersey
September 18, 2013
mPhase Technologies Inc. (OTCQB: XDSL) - (
) announced today that the Depository Trust Company has, effective
September 16, 2013
, removed a chill from the Company's common stock that was put in effect on
June 17, 2011
. The Company has once again become eligible for the "continuous net settlement" process in which its securities may fully utilize the modern electronic delivery system for settlements of purchases and sales of its common stock. The Company has over 23,000 shareholders which should benefit from the additional number of choices now available to them as a result of this action. The Company had suffered a material contraction in its market capitalization during the period of the DTC Chill.
About mPhase Technologies, Inc.
mPhase Technologies is introducing a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and microfluidics. Our Smart Surface technology has potential applications within drug delivery systems, lab-on-a-chip analytic systems, self-cleaning systems, liquid and chemical sensor systems, and filtration systems. mPhase has pioneered its first Smart Surface enabled product, the mPhase Smart NanoBattery. In addition to the Smart Surface technology, mPhase recently introduced its first product, the mPower Emergency Illuminator, an award-winning product designed by Porsche Design Studio and sold via the mPower website:
. More information about the company can be found at
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's SEC Filing. mPhase assumes no obligation to update the information in this release.