mPhase Technologies Inc (XDSL)

[jhnvtjll]

We have had net losses of approximately $211,678,692 since our inception in 1996 and cannot be certain when or if we will ever be profitable. We expect to continue to have net losses for the foreseeable future. We need to raise not less than $1 million in additional cash in the next 12 months through further equity private placements to continue operations and potentially complete a merger with Scepter Commodities LLC. As of June 30, 2018, we have working capital deficit of approximately $(3,993,269) and a stockholders’ deficit of $(3,992,469).