Gaithersburg, MD, May 12, 2021 (GLOBE NEWSWIRE) — mPhase Technologies, Inc. (OTC: XDSL) (“mPhase” or the “Company”), a technology company specializing in EV charging, artificial intelligence, machine learning, software, and consumer engagement, has engaged international investor relations specialists MZ Group (MZ) to lead a comprehensive strategic investor relations and financial communications program across all key markets.
MZ Group will work closely with mPhase management to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community. The campaign will highlight how mPhase, an AI-focused technology company, is building a fabric of uncorrelated revenue streams based on synergistic technology platforms. The Company currently operates in five business segments including online training, consumer engagement, travel planning, data analysis and battery technology.
MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts and private investors. The firm maintains offices worldwide and was recently ranked No. 7 in the world in business communication.
Brian M. Prenoveau, CFA, Managing Director at MZ North America, will advise mPhase in all facets of corporate and financial communications, including the coordination of roadshows and investment conferences across key cities and building brand awareness with financial and social media outlets.
Mr. Prenoveau commented on the opportunity, saying, “In 2019 new management for mPhase began building a team of global experts in artificial intelligence, machine learning and data analytics and seeking strategic acquisitions. During this time, the Company refocused its revenue strategy on Software as a Service (Saas). mPhase partnered with the fastest company in online training, iLearningEngines and acquired Learning Track, an India-based provider of real-time online training. Learning Track is a powerful yet simple cloud-based white label learning management system (LMS), designed to identify training needs and learning gaps, using analytical data and reporting with AI and Machine Learning as a backbone. mPhase quickly signed a $30 million annual contract to provide software, training, and support services to an IT solutions and services company.
“CloseComms was acquired in 2020 to pioneer technology to learn customer preferences and drive engagement. Its predictive algorithms help tailor promotions to maximize success targeting the quick service restaurant sector. After a successful pilot with Subway, the technology is now in the deployment phase. mPhase acquired Travel Buddhi, a technology platform designed to create, sell and fulfill personalized vacations. B2B subscription revenue and commissions from advertisements and bookings are driven through AI, blockchain, chatbot, dynamic itinerary, and location technologies. mPhase also restarted its battery development project which is now in the partnering stage targeting consumer, commercial, and government end markets. Potential partnerships under consideration are for transportation, specialty storage, and remote and critical-use applications,” concluded Prenoveau.
Anshu Bhatnagar, Chief Executive Officer of mPhase commented, “2020 was an important inflection point for mPhase with the acquisition of Learning Track and its immediately accretive artificial intelligence enabled technology platforms and services. Recurring service-related revenue from the acquisition has driven growth, reduced debt, and enabled the continued investment in new opportunities. We have a well thought out timeline that stresses rapid revenue generation and cross-division synergies. We have a catalyst-rich opportunity, with the potential to add corporate partners and customers in every division each quarter. CloseComms and Travel Buddhi are on the cusp of their revenue cycles, representing two open-ended growth drivers. We look forward to working with Brian and the entire team at MZ Group to communicate the multiple avenues to drive continued, sustained growth, building long-term value for our shareholders,” concluded Bhatnagar.
For more information on mPhase, please visit the Company’s investor relations website at www.mphasetech.com. To schedule a conference call with management, please email your request to [email protected] or call Brian Prenoveau at 561-489-5315.
About MZ Group
MZ North America is the US division of MZ Group, a global leader in investor relations and corporate communications. MZ North America was founded in 1996 and provides full scale Investor Relations to both private and public companies across all industries. Supported by our exclusive one‐stop‐shop approach, MZ works with top management to support the clients’ business strategy in six integrated product and service categories: 1) IR Consulting & Outreach – full service investor relations and roadshow services; 2) ESG iQ & Advisory – reporting technology platform and audit and reporting guidance; 3) SPAC Alpha IR+ & IPO Advisory – providing critical and timely guidance through business combinations and IPOs; 4) Financial & Social Media – lead generation and social media relations; 5) Market Intelligence – real time ownership monitoring; 6) Technology Solutions – webhosting, webcasting, conference calls, distribution services and board portals. MZ North America has a global footprint with offices located in New York, Chicago, San Diego, Aliso Viejo, Austin, Minneapolis, Taipei and São Paulo.
About mPhase Technologies
mPhase is a technology driven, innovative development company that creates and commercializes products and applications that impact everyday people. The Company is assembling industry-leading teams specializing in artificial intelligence, machine learning, software, consumer engagement, and other advanced technologies. Additional information can be found at the mPhase website, www.mphasetech.com. Please follow us on twitter: @mPhase_Tech for the latest updates.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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