mPhase Extends Engagement of Premier Technology Commercialization Firm
March 01 2012 - 10:30AM
Marketwired
mPhase Technologies, Inc. (OTCBB: XDSL) today announced that it has
extended the engagement of FIRST PRINCIPALS, INC. (FPI), a
world-class technology appraisal and commercialization enterprise
located in Cleveland, Ohio, to continue its complete economic and
strategic evaluation of mPhase's Patent Portfolio and identify a
broad array of potential innovative products for "smart surfaces."
In addition, FPI is actively assisting the Company in identifying a
large well capitalized corporate strategic partner to make a new
and significant strategic investment in mPhase.
"We believe that the retention of FPI will aggressively continue
the validation process critical to further establish the company's
intellectual property which is currently appraised by FPI well in
excess of the current market value of mPhase in the public equity
markets. We continue to focus upon potential applications for
mPhase's 'smart surfaces' technology which include drug delivery
and other applications outside of energy storage devices," said
Ronald A. Durando, President and Chief Executive Officer of mPhase.
In addition, mPhase anticipates that its future overall product mix
targeted towards the automotive, marine, healthcare and
communications sectors.
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: http://www.mpowertech.com.
More information about the company can be found at
http://www.mPhaseTech.com.
Forward-Looking Statements 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.
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