LITTLE FALLS, NJ - September 7, 2011 (Investorideas.com Newswire) - mPhase Technologies, Inc. (OTC.BB: XDSL) today issued an update on its letter of intent (LOI) originally announced on 7/28/11 to acquire Energy Innovative Products, Inc. (EIP), a developer of proprietary technologies for reducing energy usage in refrigeration and cooling systems, as well as equipment utilizing AC induction motors.
The transaction was expected to become a Definitive Agreement in August 2011 and close by October 2011. The transaction is now expected to become a Definitive Agreement in September 2011 and close in October 2011.
- Published: 06 September 2011
- Written by Investor Ideas