mPhase Technologies Reports Record Revenues

Emerging Technology

As the AI company reported record fiscal revenues, it also noted a US$3.8 million stock-based compensation to key executives.

mPhase Technologies (OTC:XDSL), artificial intelligence (AI) and machine learning company announced record fiscal revenues of US$2.5 million for the year ending June 2019. mPhase reported a lofty US$3.8 million charge to both its CEO and CFO, in addition to a US$2 million net loss for the year.

As quoted in the press release:

Restructuring activities for mPhase began in January 2019 with the announcement of its new CEO Anshu Bhatnagar. Since that time, the Company has implemented the following strategic initiatives:

Formed mPhase Technologies India, Pvt. Ltd. and launched a Center of Excellence to spearhead software and technology development for existing and newly planned projects (February 2019)
Acquired Travel Buddhi, a technology platform focused on enhancing travel via ultra-customization tools (March 2019); and acquired a controlling interest in Alpha Predictions LLP, a provider of commercial data analysis products (June 2019)
Finalized agreement with iLearningEngines, Inc. to deliver customized learning and performance analytics solutions (August 2019)

Click here to read the full press release.

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