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mPhase Technologies, Inc. (OTC.BB: XDSL) today said that it has completed its 2nd working prototype of a new automotive and marine product.
"In less than 60 days we have produced a refined product with a 20% reduction in size and increased functionality," said Ronald A. Durando, CEO of mPhase Technologies, Inc.
Working together with a renowned European automobile manufacturer, mPhase has developed this new product which features advanced battery technology, which is expected to have broad appeal to both the OEM and aftermarket automotive and marine industry.
The company continues to keep the new product under wraps in order to protect its intellectual property from being reverse engineered.
mPhase also said that it has begun to focus on strategic acquisitions which it believes can bring immediate value to the company.
About mPhase Technologies, Inc.
mPhase Technologies is introducing a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and microfluidics. Our Smart Surface technology has potential applications within drug delivery systems, lab-on-a-chip analytic systems, self-cleaning systems, liquid and chemical sensor systems, and filtration systems. mPhase has pioneered its first Smart Surface enabled product, the mPhase Smart NanoBattery.
In addition to the Smart Surface technology, mPhase recently introduced its first product, the mPower Emergency Illuminator, an award-winning product designed by Porsche Design Studio and sold via the mPower website: www.mpowertech.com.
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's SEC Filing. mPhase assumes no obligation to update the information in this release.
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