mPhase Technologies raises $35,000 in placement of convertible notes

Asher Enterprises buys note; funds used as additional working capital

By Devika Patel

Knoxville, Tenn., Dec. 13 - mPhase Technologies, Inc. sold a $35,000 convertible note to Asher Enterprises, Inc. on Dec. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.

Proceeds will be used as additional working capital.

mPhase, based in Norwalk, Conn., develops broadband communications products.

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