Prospector
Profile
1019-02
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| mPhase Technologies, Inc. |
NAICS |
517919 |
| 587 Connecticut Avenue
Norwalk, CT 06854 |
Description |
Internet Access Providers |
| (203) 838-2741 |
Employees |
19 |
| http://www.mphasetech.com/ |
Revenue |
(mil) |
0.1530 |
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Income |
(mil) |
-16.8510 |
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Assets |
(mil) |
1.8070 |
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Liability |
(mil) |
4.5620 |
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(for the year ended 2007-06-30) |
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Category:
Audit Concerns
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Event:
Rosenberg Rich Baker Berman & Company expressed doubts on the ability of mPhase Technologies, Inc. to continue as a going concern after auditing its financial statements. Through June 30, 2007, the Company incurred development stage losses totaling $168,311,619 and had a working capital deficit of $3,088,439.
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Intellectual Property:
In June of 2007, the Company filed a provisional patent for certain unique delivery aspects of its IPTV middleware. The Company has recently decided not to incur the cost of maintaining patents originally obtained by Georgia Tech Research Corporation in connection with its Traverser DVDDS legacy product. The Company had filed seven additional patents that consist of a combination of patents granted to mPhase from the Bell Labs division of Lucent Technologies, Inc. and joint patents development by mPhase and employees of Bell Labs relating to the micro power cells and magnetometers currently under development by the Company. mPhase has obtained the licensing rights from Bell Labs to use the prior art patents after expiration of the development period for each of the nanotechnology products. On July 12, 2005, mPhase announced that it had been granted a U.S. patent that covers a series of techniques for splitting different voice and data signals in DSL access networks that is used in its Broadband Loop Watch product. The Company also relies on unpatented proprietary technology. [SEC Filing 10-K 09-28-07]
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Description:
The Company develops and sells broadband communications products for telephone service providers in the United States.
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Officers:
Necdet F. Ergul (Chair); Ronald A. Durando (CEO & Dir.); Gustave T. Dotoli (COO & Dir.); Martin Smiley (CFO); Anthony H. Guerino (Dir.); Abraham Biderman (Dir.); Dr. Victor Lawrence (Dir.)
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Auditor:
Rosenberg Rich Baker Berman & Company
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Securities:
Common Stock-Symbol XDSL.OB; OTC BB;
391,736,000 common shares outstanding as of September 21, 2007.
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