LITTLE FALLS, NJ - September 14, 2011 (Investorideas.com Newswire) - mPhase Technologies, Inc. (OTC.BB: XDSL.OB), which has entered into a Letter of Intent to acquire 81% of Energy Innovative Products, Inc. (EIP), today released a power point presentation which describes Energy Innovative Products. EIP has a fully tested patented product the EIP-1 controller (Figure 1), which saves up to 30% of energy costs when installed on commercial refrigerators and freezers.
The acquisition of EIP is expected to become a definitive agreement at the end September 2011 and close by the end of October 2011.
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: http://www.mpowertech.com. More information about the company can be found at http://www.mPhaseTech.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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