mPhase Technologies Inc (XDSL)

[Penny Machine]

Nice News Today CLIFTON, N.J., July 13, 2015 /PRNewswire/ -- mPhase Technologies, Inc. (XDSL) (http://mphasetech.com/), announced today that Revenues from its mPower emergency portable Jump product line grew to approximately $1.14 million for fiscal year ended June 30, 2015 from approximately $581 thousand in fiscal year ended June 30, 2014. Revenues for the fiscal year were nearly double the year prior.

mPhase Technologies, Inc. also noted that its revenues for the nine months ended March 31, 2015 have increased significantly to approximately $969,414 from $308,737 for the comparable nine month period ended March 31, 2014.

The Company believes that the growth in revenues is the continuing sign that it is gaining further traction in the U.S. consumer market for battery jumpstarter products. The mass market is vast, crossing many target markets. These include automotive, marine and spanning into consumer electronics. The Company is seeking to further penetrate these markets with their existing jumpstarter products and continue to add to the line with additional products including storage batteries, rechargeable from solar panels, for use in homes to provide emergency power and eliminates the need for transporting gasoline and runs silently without pollutants.

About mPower Technologies
mPower Technologies Inc. is the wholly owned consumer products subsidiary of mPhase Technologies, Inc. More information about the company can be found at http://www.mpowertech.com.

About mPhase Technologies, Inc. mPhase Technologies Inc. (XDSL), is a publicly traded company pioneering 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, still in development. 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.

Contact: Danielle LaSalle [phone]
Email: [e-mail]
mPhase Technologies, Inc.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/mphase-technologies-revenues-grow-in-fiscal-year-2015-300112016.html

SOURCE mPhase Technologies, Inc.