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mPhase/AlwaysReady, Inc. (OTCBB: XDSL), a micro and nanotechnology development company focused on advanced power and sensing solutions, today announced the completion of its 2008 strategic planning process, resulting in several new corporate developments that will accelerate the commercialization path of its revolutionary nanotechnology-based battery.
First, corporate parent mPhase has reaffirmed its commitment to focusing energy and resources on the development and commercialization of the AlwaysReady Power On Command™ Smart Battery. The Smart Battery is a nanostructured electrochemical system that offers a revolutionary approach to energy storage. Its unique architecture enables key features including a shelf life of decades, remote activation, and programmable power management capabilities.
"We believe that the smart battery, having performed successfully in recent field tests, shows great promise for both military and commercial use," said Fred Allen, CEO of AlwaysReady. "We are pleased to have identified several potential market applications which leverage our technical advantages, and have chosen one specific area on which to focus our product launch efforts which will facilitate the fastest path to profitability."
"We are also deemphasizing our IPTV assets and looking at our options to sell and/or license our intellectual IPTV property, which we believe offers great value," added Ron Durando, mPhase Chairman.
These updates and other information will be available on the newly designed and updated mPhase corporate website, to be launched within the coming week.
Additional details will be shared within a shareholder letter, also to be distributed next week.
About mPhase/AlwaysReady, Inc.
AlwaysReady, Inc., a new subsidiary of mPhase Technologies, Inc., is a micro and nanotechnology development company focused on advanced power and sensing solutions. AlwaysReady designs and develops proprietary technology by manipulating matter at the scale of atoms and molecules, controlling properties at the micro and nanometer levels, and packaging solutions into products that provide value to customers. The smart battery offers a revolutionary approach to energy storage and power management.
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 companies mentioned in this press release 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 company has no control.
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mPhase Technologies, Inc.
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