Published on 8/28/2006 in the Prospect News PIPE Daily.
New Issue: mPhase Technologies concludes $1 million stock offering
By Sheri Kasprzak
New York, Aug. 28 - mPhase Technologies, Inc. completed a $1 million private placement.
The company sold 5,555,556 shares at $0.18 apiece to Wolfson Equities, Inc.
The investor also received warrants for the same number of shares, exercisable for five years at $0.18 each.
Based in Norwalk, Conn., mPhase develops software that uses broadband networks for high-speed internet connections and telephone communications.
| Issuer: | mPhase Technologies, Inc.
|
| Issue: | Stock
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| Amount: | $1 million
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| Shares: | 5,555,556
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| Price: | $0.18
|
| Warrants: | For 5,555,556 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.18
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| Investor: | Wolfson Equities, Inc.
|
| Settlement date: | Aug. 24
|
| Stock symbol: | OTCBB: XDSL
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| Stock price: | $0.19 at close Aug. 24
|
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