mPhase Technologies Inc (XDSL)

[jhnvtjll]

On December 28, 2017 the Company entered into a non-binding letter of intent with Scepter Commodities, LLC for the proposed acquisition by Scepter of 80% of the fully-diluted shares of the Company on a reverse split basis. The Company and Scepter amended the letter of intent several times the time period for the Company to become current in its SEC filings.

On April 3, 2018, April 27, 2018, May 30, 2018 and the Company and Scepter entered into Amendment No. 2, 3 ,4 & 5 to a Letter of Intent with Scepter Commodities LLC extending the time frame for the Company to become current in its SEC filings to April 30, 2018, May 31, 2018, June 15, 2018, and until July 15, 2018, respectively. Upon filing of this Form10K Annual Report the Company will intensify the due diligence process with respect to the proposed as outlined in the letter of intent.

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