We had two major events that indicate that the reverse merger will likely go through:
1. mPhase renegotiated it's toxic debt to convert it to a conventional loan - at a great reduction in repayment. Don't feel bad for the lender - he screwed mPhase for years and now he gets a regular loan on top. Still, mPhase was required to eliminate the toxic debt, and they did.
2. They were required to get current. The company just filed it's latest 10k - audited.
mPhase clearly is moving forward based on these two things, because it is pretty much out of business, but it is spending time and money on cleaning up it's business.
I would guess that we should hear from mPhase this week or next on it's progress. If nothing else, it will likely announce that the two companies are in talks about final details.