Current Report Filing (8-k)
July 10 2019 - 9:55AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
Current
Report
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
June 30, 2019
mPHASE
TECHNOLOGIES, INC.
(Exact
name of registrant as specified in its charter)
New
Jersey
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000-30202
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22-2287503
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(I.R.S.
Employer
Identification
No.)
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9841
Washingtonian Boulevard, #390
Gaithersburg,
MD 20878
(Address
of principal executive offices) (zip code)
(301)
329-2700
(Registrant’s
telephone number, including area code)
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act: None.
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.01 Entry into a Material Definitive Agreement
On June 30, 2019, mPhase Technologies, Inc.
(the “Company”) entered into a Share Purchase Agreement (“SPA”) to acquire a controlling interest in
Alpha Predictions, LLP, (“Alpha Predictions”) an India-based technology company, that has developed a suite of
commercial data analysis products for use across multiple industries. Alpha Predictions currently has sales in excess of $2.0
million (USD) and will contribute immediately to mPhase revenues.
Pursuant
to the terms of the SPA, the Company is acquiring 99% of the outstanding stock of Alpha Predictions from Snehalkumar Santosh Kadam,
Smita Dinakar Shinde, Anuj Kumar Saxena, and Dhananjay Rajendra Adik (collectively, the “Sellers”) in exchange for
approximately $1,400 (USD), (99,000 INR).
The
foregoing descriptions of the SPA do not purport to be complete and are qualified in their entirety by reference to the full text
of the document, which is attached as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference.
Item
8.01 Other Events.
On July 9, 2019, the Company issued a press
release announcing the acquisition of a controlling interest in Alpha Predictions, LLP in addition to a new $2.5 million (USD)
contract to provide software, training, and support services to an IT solutions and services company. A copy of the press
release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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mPhase Technologies, Inc.
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Dated: July 9, 2019
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/s/
Anshu Bhatnagar
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Anshu Bhatnagar
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Chief Executive Officer
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