mPhase Technologies Inc (XDSL)

[Milesblue42]

RED-FLAG?? Did anyone-read-the-1/29/2016-SEC-8K?

Why would any Nanotechnology Company need to do business with the rumored Toxic DEBT financier John Fife?

IMO it looks like a lot more dilution, stock promotions, IMO Fluffy Press Releases, newsletters and a lower PPS are on the horizon.....IMO


http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11134512

H. Company has requested that Holder once again alter the terms of the payment schedule set forth in the Forbearance Agreement (the “ Revised Payment Schedule ”).

2. Extension . Section 3 of the Forbearance Agreement is deleted in its entirety and replaced with the following:



“ Monthly Payments . On February 15, 2015 the Company shall pay $15,000.00 cash to Holder (the “ Initial Cash Payment ”), and on or before the 15 th day of each month thereafter the Company agrees to pay to Holder the following amounts (the “ Monthly Cash Payments ”): $30,000.00 per month on each of the following dates: March 15, 2015, April 15, 2015, May 15, 2015, June 15, 2015, and July 15, 2015; $15,000.00 per month on each of the following dates: August 15, 2015 and September 15, 2015; $20,000.00 per month on each of the following dates: October 15, 2015, November 15, 2015, and December 15, 2015; $10,000.00 per month on each of the following dates: January 15, 2016, February 15, 2016, and March 15, 2016; and $50,000.00 per month thereafter until the Forbearance Amount has been paid in full.”