Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > mPhase Technologies to Discuss 10% Equity Stake Acquisition of Sovereign Tracking Systems LLC in Wednesday Webcast

mPhase Technologies, Inc. (OTCBB:XDSL), ( ) will conduct a webcast on Wednesday, August 29th to present to the investment community its rationale for a 10% equity stake acquisition of Sovereign Tracking Systems LLC. Announcement of the webcast was made today by Ronald A. Durando, President and Chief Executive Officer of mPhase Technologies, Inc.

mPhase Technologies to Discuss 10% Equity Stake Acquisition of Sovereign Tracking Systems LLC in Wednesday Webcast

Little Falls, NJ | Posted on August 28th, 2007

DATE: Wednesday, August 29, 2007

TIME: 10:00AM-10:30AM (EDT)

TITLE OF PRESENTATION: "Sovereign Acquisition/Nanobattery
Progress Update"

mPhase in February announced its intention to create a version of its Smart Nanobattery optimized for use in its active RFID (Radio Frequency Identification)/RTLS (Real-Time-Location-System) applications. Last week the company announced its acquisition of a ten percent (10%) interest in Sovereign Tracking Systems, LLC, ( Sovereign is a small, privately held NJ-based cutting-edge technology company specializing in real-time asset management tracking technologies, supported by inexpensive active (RFID/RTLS) Tags.

Financial terms of the 10% Sovereign equity acquisition will be disclosed by Mr. Durando during the webcast, in addition to the presentation of a progress report on mPhase/AlwaysReady, Inc.'s commercialization efforts for its Smart Nanobattery technology.

According to Mr. Durando: "We are very excited about our 10% Sovereign equity acquisition. Sovereign offers a complete product in its first-rate RFID/RTLS technology with hardware and software having wide business applicability. Its linkage, now with mPhase functioning as an incubator, will assist us in establishing what we believe will be a pre-emptive positioning in the active RFID/RTLS market well-suited for using our Smart Nanobattery technology."

Mr. Durando continued: "Prior to this, an issue with active RFID/RTLS was that it required an efficient and versatile power source. Sovereign Tracking Systems, LLC is an ideal fit with mPhase Technologies/AlwaysReady, Inc. Heretofore, RFID/RTLS batteries were subject to shelf life power drainage and other power management issues. With our battery technology, an RFID/RTLS tag can remain on the shelf for very long periods and not draw down on the battery until first-time tag activation."

RFID/RTLS is a radio transmitter sensor technology used for security and tracking, monitoring and control systems. Active tags are used to keep track of high value inventory items and capital assets, such as shipping containers, medical equipment and automobiles. RFID/RTLS has a distinct utilization for monitoring high-end medical inventory and for many other uses within a healthcare facility setting including asset management and utilization.

At the time of the equity acquisition, Mr. Durando stated: "mPhase's 10% acquisition of Sovereign Tracking Systems, LLC from a strategic viewpoint makes sense in so many ways. Sovereign has a very strong patent position in the category of active, real-time tracking systems that use RFID/RTLS tags to secure high-end asset and personnel tracking and monitoring systems. We see a unique opportunity here with mPhase's new Smart Nanobattery. We look forward to leveraging the Sovereign acquisition to solidify our positioning in the marketplace and to enhance shareholder value."

mPhase's new Smart Nanobattery architecture promises an energy source that can be packaged in various configurations, with shelf life lasting decades, yet still able to be activated on demand. This has a distinct relevance with active RFID/RTLS applications. Various battery designs based on this technology may deliver a new and unique component for system design across many fields, including defense, healthcare, industrial and consumer electronics.


About mPhase Technologies, Inc.
mPhase Technologies Inc. (OTCBB: XDSL) develops and commercializes next-generation media-rich entertainment software and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce costs. The company was awarded the Frost & Sullivan Energy Storage Award for the Nanobattery in 2006 and the Frost & Sullivan Excellence in Technology Award in 2005, and the Nano 50 Award from NASA Nanotech Briefs. mPhase Technologies is bringing nanotechnology out of the laboratory and into the market with a planned innovative long life power cell. Additionally, the company is working on prototype ultra-sensitive magnetometers that promise orders of magnitude increases in sensitivity as compared with available un-cooled sensors.

About Sovereign Tracking Systems: Sovereign’s Real-Time-Location-Systems (RTLS) / Real-Time Asset Management applications have been installed worldwide including such applications as hospitals and healthcare facilities, manufacturing, prisons, warehousing, and the airline industry.

Sovereign’s President and CEO William A. Robinson was one of the founding fathers of the "Global Positioning Systems" (GPS) technology. Inspired by the limitation of the GPS technology (it would not track under cover), Mr. Robinson began to formulate a concept for a reverse GPS, in which small "Satellites" (readers) could be placed in an indoor or outdoor environment allowing for tracking, monitoring and control undercover. With this technology conceived and a desire to turn his dream into reality, in early 1996 Bill Robinson founded Sovereign Technologies Corporation. As the technology continued to evolve it caught the interest of the United States military and in June of 1997, Sovereign Technologies Corporation was awarded the U.S. Army's Advance Monitoring Display System (AMDS) contract. Sovereign was then developing software to support the US Army's ground and Ariel sensors on the battlefield.

Safe Harbor Statement This news release contains forward-looking statements related to future growth and earnings opportunities. Such statements are based upon certain assumptions and assessments made by management of the companies mentioned in light of current conditions, expected future developments and other factors they believe to be appropriate. Actual results may differ as a result of factors over which the companies have no control.

For more information, please click here

Rubenstein Associates
Peter M. Hamilton

Copyright © Business Wire 2007

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press


Arrowhead Pharmaceuticals Reports Inducement Grants under NASDAQ Marketplace Rule 5635(c)(4) March 20th, 2018

Nanometrics to Present at the 30th Annual ROTH Conference February 27th, 2018

180 Degree Capital Corp. Reports Net Asset Value per Share of $2.60 as of December 31, 2017; A Decrease of 3.0% From Prior Quarter and an Increase of 11.1% From December 31, 2016 February 27th, 2018

Nanowire LED Innovator Aledia Announces €30 ($36M) Million Series-C Financing: Intel Capital Joins Existing Investors to Commercialize Certain Nanowire-LED Technologies for Mobile Displays January 29th, 2018


Graphene finds new application as anti-static hair dye: New formula works as well as commercial permanent dyes without chemically altering hairs March 22nd, 2018

Piezomagnetic material changes magnetic properties when stretched March 22nd, 2018

Design approach developed for important new catalysts for energy conversion and storage: New method could aid in design of pharmaceuticals and optical and data storage materials March 21st, 2018

GLOBALFOUNDRIES Launches RF Ecosystem Program to Accelerate Time-to-Market for Wireless Connectivity, Radar and 5G Applications: RFWave™ Partner Program expands the ecosystem and enables faster product deployment on GF’s RF technology platforms March 20th, 2018

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Piezomagnetic material changes magnetic properties when stretched March 22nd, 2018

Mapping battery materials with atomic precision: Berkeley Lab researchers map the atoms of battery materials and explored how composition affects structure March 8th, 2018

Leti Chief Scientist Barbara De Salvo Will Help Kick Off ISSCC 2018 with Opening-Day Keynote: In Addition, Leti Scientists Will Present and Demo New Technology for Piezoelectric Energy Harvesting February 8th, 2018

Round-the-clock power from smart bowties February 5th, 2018


New 4-D printer could reshape the world we live in March 20th, 2018

Thermo Scientific Krios G3i Cryo-Electron Microscope Announced as 2018 Edison Awards Finalist March 8th, 2018

Leti & Mapper announce cyber-security breakthrough that encrypts individual chips with a code: Low-Cost Cyber-Security Breakthrough that Encrypts Individual Chips With a Unique Code Presented at SPIE Advanced Lithography 2018 in San Jose March 2nd, 2018

Nanometrics to Present at the 30th Annual ROTH Conference February 27th, 2018

The latest news from around the world, FREE

  Premium Products
Only the news you want to read!
 Learn More
Full-service, expert consulting
 Learn More

Nanotechnology Now Featured Books


The Hunger Project