Gaithersburg, MD, June 10, 2020 (GLOBE NEWSWIRE) -- mPhase Technologies, Inc. (OTCQB: XDSL) (“mPhase” or the “Company”) is pleased to report that it has added two new channel partners for its Learning Track platform. The addition of these two channel partners increases the total number of channel partners to three, each of which will be targeting different customer verticals within their respective sales networks.

These two new channel partners are focusing on over 300 universities and institutions of higher education along with government, private training companies, and industrial and business clients outside of the Company’s previous geographic and occupational footprint. The new channel partners are expected to be an important source of additional recurring business, as the Company begins its next growth phase in the online learning and training space.

“Channel partners are going to play an important role in the growth of our platform,” said CEO Anshu Bhatnagar. “These sales organizations will enable us to more quickly establish our brand and generate exposure in key categories, particularly higher education. This will also help us achieve scale without having to invest heavily in a dedicated sales force. The training and testing space is waking up again after slowing during the pandemic. These new channel partner relationships are perfectly timed to benefit from a resumption of activity in the space. This type of business tends to be 80%+ recurring, so any new customers from these sales channels will add to our existing recurring revenue streams.”

mPhase anticipates adding additional channel partners in other regions in the future as it expands its international presence. As previously reported, the Company is actively working to increase its customer base in order to diversify its sources of revenue. Based on current sales activity, mPhase expects additional growth in the learning division during the remainder of calendar year 2020.

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.

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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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ir@mphasetech.com

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