LITTLE FALLS, N.J., Dec. 4, 2008 (GLOBE NEWSWIRE) -- mPhase Technologies, Inc. (OTCBB:XDSL) is preparing to announce a critical partnership with a major industrial design company very shortly. The partnership will provide mPhase with a potential distribution channel for the AlwaysReady Emergency Flashlight. mPhase and the soon to be named partner will also collaborate on the flashlight design to ensure a functional casing with an attractive and sleek physical appearance. mPhase has been in negotiations since September with the soon to be named partner.
In addition to the physical design of the product, the partnership will also aide the marketing and exposure of the AlwaysReady Emergency Flashlight. The partner company will utilize their established and respected worldwide branding to drive exposure and awareness of this unique product. In light of the partnership, mPhase expects that significant domestic and international sales will be realized very soon after the initial product offering.
"We are extremely pleased to be entering into a partnership with such a prestigious and respected company as we commercialize the mPhase lithium reserve battery," said mPhase CEO Ron Durando. "We have reached a preliminary agreement and are excited to release more complete details once all the paperwork is filed."
mPhase expects to finalize and officially announce the partnership no later than December 15, 2008. Once the agreement is finalized, the collaboration effort will begin immediately. Substantial progress in the commercializing of the AlwaysReady Emergency Flashlight is expected within the first month of the partnership.
About mPhase Technologies, Inc. and AlwaysReady, Inc.
mPhase Technologies, Inc. (OTCBB:XDSL), through its wholly owned subsidiary AlwaysReady, Inc., is focused on developing and commercializing a new battery technology based on a well-patented phenomenon known as electrowetting, which provides a unique way to store energy and manage power that will revolutionize the battery industry. For more information, please visit our website at www.mPhaseTech.com.
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.