EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--
mPhase Technologies, Inc. (XDSL) (http://mphasetech.com/), announced today that Revenues from its mPower JumpIt and Mini JumpIt product line exceed prior years revenues.
mPhase Technologies, Inc. stated today that its revenues for the quarter ended March 31, 2014 and Year-to-Date revenues for Fiscal Year 2014 have increased significantly over total revenues for Fiscal Years 2013 and 2012.
For the quarter ended March 31, 2014 revenues jumped to $255,113 from $53,653 in the quarter ended December 31, 2013. In addition, year-to-date revenues for fiscal year 2014 have increased to $308,767 from $4,084 in fiscal year ended June 30, 2013 and $1,502 for the fiscal year ended June 30, 2012.
The Company believes that the growth in revenues is the first sign that it is beginning to gain traction in the U.S. consumer market for battery jumpstarter products. The mass market is vast, crossing many target markets. These include automotive, marine and spanning into consumer electronics. The Company is seeking to further penetrate these markets with their existing jumpstarter products and continue to add to the line with additional products that provide varying capabilities and applications.
About mPower Technologies
mPower Technologies Inc. is the wholly owned consumer products subsidiary of mPhase Technologies, Inc. More information about the company can be found at http://www.mpowertech.com.
About mPhase Technologies, Inc. mPhase Technologies Inc. (XDSL), a 2013 Frost and Sullivan recipient for the North American Advanced Battery Technology Innovation Award. mPhase Technologies is a publicly traded company (XDSL) that is pioneering 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, still in development. More information about the company can be found at http://www.mPhaseTech.com.
Forward-Looking Statements. 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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Danielle LaSalle, 973-256-3737