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SIRIUS Completes $250 Million Term Loan
Last Update: 2:12 PM ET Jun 20, 2007
NEW YORK, June 20, 2007 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS Satellite Radio (SIRI : sirius satellite radio inc com
2:05pm 06/20/2007
SIRI2.86, -0.03, -1.0%) today announced that it completed the $250 million senior secured term loan from Morgan Stanley Senior Funding, Inc. The issue was very well received in the marketplace with strong demand and attractive pricing.
Would be nice to close at hod! .12
wow, that was a pretty big buy, 70 k in one swoop
June 20 - mPhase Technologies Will Tell Investors At Wall Street Reporter Magazine's Next Small-Cap Discovery Conference How It's Bringing Advanced Technologies
Abstract:
As mPhase Technologies (OTCBB:XDSL) is bringing advanced technologies out of the laboratory and into the market, CEO Ron A. Durando will be in New York City next week to explain the technology and the enormous business opportunity it represents to the investment community.
mPhase Technologies Will Tell Investors At Wall Street Reporter Magazine's Next Small-Cap Discovery Conference How It's Bringing Advanced Technologies
New York, NY | Posted on June 15th, 2007
Mr. Durando will be just one of the executives from leading-edge companies on tap at the 12th Wall Street Reporter Magazine Small-Cap Discovery Conference, which will be held on the morning of Wednesday, June 20 at the New York Princeton Club (15 West 43rd Street). More than 200 fund managers, analysts, and investment bankers have already signed up to attend the event, which regularly lives up to its name by shining a spotlight on some of the market's most promising undiscovered small-cap names.
Mr. Durando will address both the mPhase Nanotechnology and MEMS business previously announced to be the consolidated in new subsidiary, Always Ready, Inc. and his plans for its new software based IPTV platform, mPhase TV+ System.
The innovative "TV+ System" that mPhase has developed allows wireline telephone carriers to add IPTV (Internet Protocol Television) and other streaming video products to their existing voice and data platforms in order to generate incremental service and advertising revenue. The system is both robust and flexible, giving partners the ability to expand their service offering to evolve with shifting customer demand.
As Mr. Durando has noted, TV+ is a natural fit for international markets amid forecasts that the global IPTV market will quintuple over the next five years; interest in the product has emerged in Russia and other countries where cable television networks were never built out.
Investment professionals are welcome to attend the conference. A full list of presenters, registration details, and venue information can be found at http://www.wallstreetreporter.com/sdc .
In addition, companies looking for opportunities to sponsor or present at this or a future Wall Street Reporter conference should contact Jack Marks, Wall Street Reporter Publisher, at (212) 363-2600 ext 260 or jmarks@wallstreetreporter.com
The event will also be Webcast live on http://www.vcall.com .
Conference Sponsors:
Cornell Capital Partners ( http://www.cornellcapital.com )
Knobias ( http://www.knobias.com )
vFinance ( http://www.vfinance.com )
Marks Value Partners LLC ( http://www.stockpower.ws )
####
About mPhase Technologies, Inc.
mPhase Technologies Inc. (OTCBB:XDSL) develops and commercializes next-generation media-rich entertainment software and nanotechnology solutions. The mPhase TV+ System is the company's third generation telco TV system, allowing the creation of revenue rich services on a carrier grade software platform. The company's nanotechnology division was awarded the Frost & Sullivan 2006 Energy Storage Award for the Nanobattery, the 2005 Frost & Sullivan Excellence in Technology Award, and the Nano 50 Award from NASA Nanotech Briefs in 2005. The company is bringing nanotechnology out of the laboratory and into the market with a planned innovative long life battery. Additionally, the company is working on prototype ultra-sensitive magnetometers that promise orders of magnitude increases in sensitivity as compared with available un-cooled sensors.
About Wall Street Reporter
Wall Street Reporter (Est. 1843) helps smart investors connect with exciting companies, through our website, magazines and conferences. We're probably best known for our exclusive interviews with industry-leading CEOs and the world's top investment experts.
Wall Street Reporter produces in-depth, unbiased, unfiltered interviews that deliver a first-hand, straight-from-the-source perspective. This enables our audience to make intelligent and informed investment decisions.
For more information, please click here
Contacts:
Wall Street Reporter Magazine
Jack Marks, CEO and Publisher
212-363-2600 ext 260
www.wallstreetreporter.com
For: mPhase Technologies, Inc.
Rubenstein Investor Relations
Investor Relations:
Tim Clemensen
(212) 843-9337
tclemensen@rubensteinpr.com
New York, NY 10105
Rubenstein Associates
News Media Contact: Public Relations
Peter Hamilton
(212) 843-8015
phamil@rubenstein.com
New York, NY 10105
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http://www.nanotech-now.com/news.cgi?story_id=23285
Business briefs
June 2007
A round-up of this week's nanotechnology news featuring BioSource Solutions, mPhase, Nanomarkets and more
General company news
• mPhase has appointed Source Capital Group to raise up to $15 million for its subsidiary AlwaysReady. The agreement follows mPhase's decision to separate its nanotechnology product line into a new company. "The combined strengths of our innovative smart nanobattery and ultrasensitive magnetometer led us to the decision to keep these two businesses together in the AlwaysReady subsidiary," commented Ronald Durando, CEO and president of mPhase.
http://nanotechweb.org/articles/news/6/6/2/1
Q and A on AlwaysReady, Inc for mPhase Investors
Q: Why are you forming a new company for the nanotechnology products at mPhase?
A: mPhase’s IPTV and nanotechnology products are fundamentally different businesses and represent two different sectors of high growth technologies.
Q: How does the formation of the new company affect the common stock ownership of current mPhase shareholders?
A: Current shareholders in mPhase will not be affected by the formation of the new company since all of the stock will initially be held by mPhase.
Q: What are the benefits to me as an mPhase shareholder of the recapitalization?
A: It is management’s intention to complete a private placement of 10% of the stock of, the new company. The private placement will be followed by the filing of appropriate registration statements with the SEC that upon effectiveness, will allow the stock to be publicly traded. This will eventually result in a public market for a pure nanotechnology company that mPhase believes will unlock shareholder value and create new and better funding opportunities for mPhase.
Q: How much of the new company stock will be held by mPhase after the private placement of a 10% interest in the company.
A: mPhase will continue to own 90% of the stock in the new company and such companies will be a consolidated subsidiary of mPhase for financial and tax reporting.
Q: What are the benefits of the recapitalization of the company for me as a shareholder?
A. mPhase should have greater flexibility and opportunities to raise capital in larger amounts necessary for the nanotechnology products which in turn should lead to accelerated product development and greater value for shareholders of the common stock of mPhase. .
Q: I invested in mPhase because of the Nano technology only – I want my investment to follow that course of funding?
A: Unsolicited accredited investors of mPhase that want to make an investment in the private placement may be given and opportunity to make an investment in compliance with federal securities laws. Depending upon the timing of the shares becoming publicly traded, mPhase shareholders will have a new investment opportunity that would be a “pure play” in nanotechnology.
Q: I invested in mPhase because of the IPTV technology (or battery) only – I want my investment to follow that course of funding?
A: You would then continue to hold stock in mPhase While this is not a “pure play” on the IPTV or nano technology, it could come close to meeting your investment objectives.
Q: Who will run the new company? What will happen with mPhase? Is mPhase dissolving as a company?
A: mPhase will continue to run with its present management team. The new company will have a new management team that is currently in the process of being identified.
Q: What is the name of the new company and where will it be located?
A: The name of the new company is AlwaysReady, Inc. and it will be organized under the laws of the State of New Jersey and have it principal place of business at a location in New Jersey to be determined.
Q: Will mPhase own a portion of the new company?
A: Yes, mPhase will continue to be a majority shareholder for the foreseeable future. Strategic investors are being identified to provide a major influx of capital to accelerate the commercialization of the companies’ nano project. Those investors are expected to get approximately 10% of the company upon successful completion of a private placement of approximately $7.5 million.
Q: What is the timeframe for the new company completing the private placement and then becoming a publicly traded company?
A: We expect the completion of the private placement to take about 60 days. The actual time to have the new company’s shares be eligible for public trading initially on the OTCBB will be determined by the speed with which we move through the multiple steps of filing and having the SEC declaree Registration Statements under the Securities Act of 1933, as amended and the Securities Exchange Act of 1934 for shares of the new company to be effective and listing the shares for trading on the OTCBB market.
In case you missed this letter to shareholders earlier this year.
February 6, 2007
Dear Investor,
I am pleased to report that mPhase Technologies, Inc. (OTC: XDSL) has entered into a Cooperative Research and Development Agreement (CRADA) for Nanotechnology based Novel Reserve Cell Technology and High Sensitive Magnetometer Technology with the U.S. Army Armament Research, Development and Engineering Center (ARDEC) at Picatinny Arsenal, New Jersey. The purpose of the agreement is to establish a cooperative effort to develop power sources and sensor technologies for munitions guidance and control. This agreement validates our approach in developing nanotechnology related products and paves the way for advanced military applications. Below is the text of our joint announcement with the Army.
On December 29, 2006 mPhase filed a form 8K with the SEC announcing a consulting agreement from a major charge card company to explore power sources for the next generation of smart credit cards. Our Nanobattery is breaking new ground in battery technology as was reported in the issue of Wired (http://www.wired.com/wired/archive/14.11/battery.html) issued last fall.
These events signaled significant progress for mPhase in 2006.
I want to thank you for your support as we move into an exciting new year.
Sincerely,
Ron Durando
President and CEO
mPhase Technologies, Inc.
Creation of AlwaysReady, Inc To Benefit XDSL Shareholders
The new subsidiary mPhase announced Tuesday, AlwaysReady, Inc. is designed to benefit the current shareholders of mPhase Technologies in a number of key ways.
“We planned the formation of AlwaysReady, Inc. in an effort to maximize the value to shareholders,” said Ron Durando, President and CEO. “By creating the new company initially as a wholly owned subsidiary, XDSL shareholders retain the upside potential of our powerful technologies while we attract the new capital needed to bring our products to market.”
The company said that the private placement planned will be limited to 10% of the new company. The new company’s structure makes it more attractive to private placement investors who have a specific focus on its proprietary technologies. This strategic move is designed to raise the capital needed to move forward in commercializing its technologies in an accelerated and potentially less dilutive manner
mPhase Technologies Forms New Subsidiary to Create Targeted Advertising for Telco TV Systems
New Company will let Telcos Add Premium Advertising to their IPTV systems
http://www.marketwatch.com/news/story/mphase-technologies-forms-new-subsidiary/story.aspx?guid=%7B11...
XDSL
mPhase Technologies Describes Innovative Strategy to Increase Shareholder Value in Technology Incubation
New XDSL Corporate Structure Designed to Attract New Capital with Minimal Shares Dilution
http://www.marketwatch.com/news/story/mphase-technologies-describes-innovative-strategy/story.aspx?g...
im back in xdsl..i like the fact that they are acknowledging their shareholders..alot of companies arent savvy in that regard and let their shareholders do the math.
At least mPhase has the gumption to throw 'us' a bone. I've been in and out of XDSL for about 3 yrs and its paid off.
Good luck,
-Screamster
XDSL - mPhase Technologies Describes Innovative Strategy to Increase Shareholder Value in Technology Incubation
New XDSL Corporate Structure Designed to Attract New Capital with Minimal Shares Dilution
http://www.marketwatch.com/news/story/story.aspx?guid={3EBDC021-6619-4785-BC62-2AC95CB659EA}&sit...
XDSL - mPhase Technologies Describes Innovative Strategy to Increase Shareholder Value in Technology Incubation
New XDSL Corporate Structure Designed to Attract New Capital with Minimal Shares Dilution
http://www.marketwatch.com/news/story/story.aspx?guid={3EBDC021-6619-4785-BC62-2AC95CB659EA}&sit...
Nice volume spike.
http://stockcharts.com/h-sc/ui
best results for O/S call transfer agent (if they are allowed to give the O/S), listed below
-----------------------------------------------------
Pacific Stock Transfer Co Write a Review Address:
500 E Warm Springs Rd Ste 240
Las Vegas, NV
89119
Phone: (702) 433-1228
OT/FYI: PRXT..youve been added as assistant moderator
this is kind of old but: CYDF Outstanding Shares: 67,367,316 as of 2006-11-16
CIVX
SLXI and PRXT
Looking good!
BIOM @ 1.26
SLXI a bit of action.
OBCI on its way to 7$$ ? ;)
OBCI going to 7$ ? Hmm
ACTC, wow!
oh, i was late to that party..i was in late .80s..still did ok though!
Congrats.
I still have a newspaper from that day..its in the scrapbook. =)
Hey Ohio..
GO SIRI!! yea
-screamster
i slept on it after that huge jump mid August ....saw it in the 50s and kept my eyes peeled! After the Dems took the house...that sparked some interest. =)
ACTC 1$ !!
ACTC about to be overbought...use caution..jmo
=) GLA
thanks!
I was in a couple weeks at .67..they shook me. lol
gl
-screamster
im out of ACTC at .94 fyi
ACTC .12+ on the day.
ACTC continues +.09
ACTC .80 +.05
ACTC continues.
ACTC
ACTC !!!
ACTC seeing a bit of action