mPhase Technologies Inc (XDSL)

[NoMoDo]

Actually, the CEO and a board member bought shares somewhere around 2008 without reporting it and FINRA spanked them hard.

They wanted to do a RM a handful of years ago, but FINRA said they will never allow it as long as the two were in control. It is the main reason this company failed.

I believe that normally a RS happens sometime between the announcement of the done deal and the new company taking over. Here, it wont happen guaranteed until the new company holds the keys to the executive washroom.

I think if Scepter was smart, they would be buying shares all day long at .0001. Unless of course, mPhase is trying to keep this low while they renegotiate their debt. The company was able to eliminate $1 mil in debt pretty recently by going to court and claiming violation of the usury laws. Demonstrating poverty strengthens this type of argument.