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Nestegg McMuffin

08/06/19 11:40 AM

#7521 RE: HANK27 #7520

8K is a $50k note for a year.

Item 1.01. Entry into a Material Definitive Agreement

On July 30, 2019 mPhase Technologies, Inc., a New Jersey corporation (the “Company”), entered into a Securities Purchase Agreement dated as of July 30, 2019 with Power Up Lending Group, a Virginia corporation (“Lender”) and issued an 8% Convertible Promissory Note in the principal amount of $53,000 to the Lender with a maturity date of July 30, 2020. The Company received net proceeds in the amount of $50,000 as a result of $3,000 being paid to reimburse Lender for legal and due diligence fees incurred by Lender with respect to this Securities Purchase Agreement and Convertible Promissory Note.