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| | Business Summary: mPhase Technologies, Inc., a development stage company, specializes in microfluidics, microelectromechanical systems, and nanotechnology in the United States. The company, through its subsidiary, AlwaysReady, Inc. | | | Address 150 Clove Road
Little Falls
, NJ 07424
Phone: 973-256-3737
Fax: 973-256-9387
Website: http://www.mphasetech.com
| | | Transfer Agent |
|---|
Jersey Transfer & Trust Co.
| | ShareHolders: 19000 | Founded: 1979 Domicile: New Jersey | | | |
| | mPhase Technologies, Inc., a development stage company, specializes in microfluidics, microelectromechanical systems, and nanotechnology in the United States. The company, through its subsidiary, AlwaysReady, Inc., focuses on commercializing Smart NanoBattery, which provides Power On Command battery technology for military and commercial applications. Its patented battery technology, based on the phenomenon of electrowetting, stores energy and manages power. The company's Smart NanoBattery technology is a porous nanostructured material that could be designed for self-cleaning applications, water purification/desalination, liquid filtration/separation, and environmental cleanup. mPhase Technologies, Inc. was founded in 1996 and is headquartered in Norwalk, Connecticut with additional offices in Little Falls, New Jersey; and New York, New York. | | History: INCORPORATED in New Jersey Dec. 18, 1979 as Tecma Laboratory, Inc.; name changed to Tecma Laboratories, Inc. Aug. 28, 1987; to Lightpaths TP Technologies, Inc. Apr. 7, 1997, following the acquisition, on Feb. 17, 1997, of Lightpaths, Inc. for 6,600,000 Common shares; and to mPhase Technologies, Inc. June 2, 1997.
June 25, 1998, acquired Microphase Telecommunications, Inc. for 2,500,000 Common shares. | | | | Subsidiaries: |
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AlwaysReady, Inc. Granita Media, Inc. Lightpaths, Inc. Microphase Telecommunications, Inc. mPhaseTelevision.Net, Inc.
| | | | | | Capital Expenditures, thousand. US Dollars |
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| Year | Amount | | 2009 | 8 |
| | | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2009 | 1,256 |
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Management
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| Officers | Position |
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| Ronald A. Durando | President & Chief Executive Officer | | Martin S. Smiley | Exec VP, Chief Financial Officer & General Counsel | | Gustave T. Dotoli | Chief Operating Officer | | Gerard Adams | Investor Relations Contact |
| | Directors |
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| Abraham Biderman | | Gustave T. Dotoli | | Ronald A. Durando | | Necdet F. Ergul | | Anthony H. Guerino | | Victor B. Lawrence | | Martin S. Smiley | | | |
| | | | Capitalization as of 06/30/2009: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Common $0.01 par | 2,000,000,000 | 870,433,199so1 |
| | | | LONG TERM LIABILITIES: $4,433,171 | | | | Common $0.01 par | | | |
Stockholders:
06/30/2009,
19000.
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Transfer Agent: Jersey Transfer & Trust Co.
Verona
, NJ | | | | OTC Bulletin Board( Primary): XDSL | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2008 | 0.1400 | 0.0100 | | OTC Bulletin Board | 2007 | 0.2700 | 0.0400 | | OTC Bulletin Board | 2006 | 0.4490 | 0.1500 | | OTC Bulletin Board | 2005 | 0.7500 | 0.0150 | | OTC Bulletin Board | 2004 | 0.7600 | 0.2100 | | OTC Bulletin Board | 2003 | 0.6300 | 0.1700 | | OTC Bulletin Board | 2002 | 0.6200 | 0.1500 | | OTC Bulletin Board | 2001 | 3.3700 | 0.3100 | | OTC Bulletin Board | 2000 | 21.1250 | 1.4690 | | OTC Bulletin Board | 1999 | 9.6250 | 2.2500 |
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| | | | DIVIDENDS: Common $0.01 par: No cash. | | | | | |
so1Excl. 13,750 in treas. | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 | 2007 |
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| Revenues | 186,579 | 112,928 | 153,504 | | Cost of Sales | - | (949) | (89,802) | | General and Administrative | (9,554,190) | (4,031,618) | (8,684,053) | | Research and Development | (1,255,665) | (988,091) | (6,393,215) | | Depreciation and Amortization | (33,976) | (145,331) | (93,855) | | Interest Expense | (1,320,511) | (214,878) | (18,310) | | Net Reparation, Impairment and Other Income/expense | (352,060) | (527,530) | (1,725,831) | | Net Charges Related to Convertible Debt | (3,199,854) | 1,838,748 | - | | Earnings before Taxes | (15,529,680) | (3,956,721) | (16,851,560) | | TAXES AND OTHER EXPENSES |
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| | Net Income (Loss) | (15,529,680) | (3,956,721) | (16,851,560) | | SUPPLEMENTARY INFO |
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| | Operating Income (Loss) | (10,657,250.00) | (5,053,061.00) | (15,107,420.00) | | Basic and diluted EPS | (0.03) | (0.01) | (0.05) |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| ASSETS |
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| | CURRENT ASSETS |
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| | Cash and Cash Equivalents | 100,138 | 15,533 | | Accounts Receivables | 46,065 | 4,000 | | Prepaid Expenses and Other Current Assets | 153,636 | 121,882 | | Total Current Assets | 299,839 | 141,415 | | NON CURRENT ASSETS |
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| | Property and Equipment, net | 39,648 | 149,418 | | Investment in Sovereign | - | 110,000 | | Notes Receivable and Related Interest | 3,150,000 | 1,950,000 | | Total Assets | 3,489,487 | 2,350,833 | | LIABILITIES |
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| | CURRENT LIABILITIES |
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| | Accounts Payable | 1,864,956 | 2,076,965 | | Accrued Expenses | 482,388 | 388,444 | | Convertible Debt | - | 54,000 | | Short-term Notes | 240,820 | 240,820 | | Note Payable-related Parties | 1,332,400 | 204,038 | | Due to Related Parties | 369,920 | 1,030,167 | | Total Current Liabilities | 4,290,484 | 3,994,434 | | NON CURRENT LIABILITIES |
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| | Convertible Debt Derivative Liability | 2,380,816 | 750,151 | | Convertible Debentures | 2,052,355 | 411,101 | | SHAREHOLDERS' EQUITY |
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| | Common Stock - Par Value | 8,704,197 | 4,403,950 | | Additional Paid in Capital | 173,867,600 | 165,067,500 | | Treasury Stock - Common | (7,973) | (7,973) | | Deficit Accumulated during Development | (187,798,000) | (172,268,300) | | Total Shareholders Equity | (5,234,168) | (2,804,853) | | Total Liabilities & Shareholders Equity | 3,489,487 | 2,350,833 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 50,000 | | 2009 |
1 | 10,000 | | 2009 |
2 | 50,000 | | 2009 |
3 | 40,000 | | 2009 |
4 | 90,000 | | 2009 |
Full Year
| 190,000 | | 2008 |
1 | 30,000 | | 2008 |
2 | 60,000 | | 2008 |
3 | Nil | | 2008 |
4 | 10,000 | | 2008 |
Full Year
| 110,000 | | 2007 |
1 | 110,000 | | 2007 |
2 | 10,000 | | 2007 |
3 | 20,000 | | 2007 |
4 | 20,000 | | 2007 |
Full Year
| 150,000 | | 2006 |
1 | 380,000 | | 2006 |
2 | 170,000 | | 2006 |
3 | 280,000 | | 2006 |
4 | 140,000 | | 2006 |
Full Year
| 980,000 | | 2005 |
1 | 180,000 | | 2005 |
2 | 300,000 | | 2005 |
3 | 560,000 | | 2005 |
4 | 670,000 | | 2005 |
Full Year
| 1,710,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (400,000) | | 2009 |
1 | (6,750,000) | | 2009 |
2 | (2,590,000) | | 2009 |
3 | (660,000) | | 2009 |
4 | (5,530,000) | | 2009 |
Full Year
| (15,530,000) | | 2008 |
1 | (6,750,000) | | 2008 |
2 | 110,000 | | 2008 |
3 | (3,510,000) | | 2008 |
4 | 2,230,000 | | 2008 |
Full Year
| (3,960,000) | | 2007 |
1 | (3,960,000) | | 2007 |
2 | (3,840,000) | | 2007 |
3 | (3,260,000) | | 2007 |
4 | (5,790,000) | | 2007 |
Full Year
| (16,900,000) | | 2006 |
1 | (2,960,000) | | 2006 |
2 | (8,310,000) | | 2006 |
3 | (7,610,000) | | 2006 |
4 | (5,570,000) | | 2006 |
Full Year
| (24,450,600) | | 2005 |
1 | (1,830,000) | | 2005 |
2 | (3,290,000) | | 2005 |
3 | (4,350,000) | | 2005 |
4 | (1,790,000) | | 2005 |
Full Year
| (11,234,300) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | Nil | | 2009 |
1 | (.01) | | 2009 |
2 | (.01) | | 2009 |
3 | Nil | | 2009 |
4 | (.01) | | 2009 |
Full Year
| (.03) | | 2008 |
1 | (.01) | | 2008 |
2 | Nil | | 2008 |
3 | (.01) | | 2008 |
4 | Nil | | 2008 |
Full Year
| (.01) | | 2007 |
1 | (.01) | | 2007 |
2 | (.01) | | 2007 |
3 | (.01) | | 2007 |
4 | (.02) | | 2007 |
Full Year
| (.05) | | 2006 |
1 | (.02) | | 2006 |
2 | (.05) | | 2006 |
3 | (.03) | | 2006 |
4 | (.03) | | 2006 |
Full Year
| (.12) | | 2005 |
1 | (.02) | | 2005 |
2 | (.04) | | 2005 |
3 | (.04) | | 2005 |
4 | (.01) | | 2005 |
Full Year
| (.10) |
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