mPhase Technologies Inc (XDSL)

[jhnvtjll]

During the fiscal year ended June 30, 2018, the Company actively sought a privately-held company seeking to become a public company to potentially merge with in order to achieve a larger critical mass and a wider variety of product lines. This effort culminated in a preliminary Letter of Intent with Scepter Commodities, LLC, an entity with a proprietary blockchain platform facilitating trading on a global basis for small dealers of tin, mPhase also spent considerable time and effort during the fiscal year ended June 30, 2018 on restructuring of its convertible debt obligations.