UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
November 23, 2012
| mPHASE TECHNOLOGIES, INC. |
| (Exact Name of Registrant as Specified in Charter) |
| New Jersey | 000-24969 | 22-2287503 | ||
| (State or Other Jurisdiction of | (Commission File Number) | (IRS Employer | ||
| Identification No.) | Incorporation) | |||
| 587 Connecticut Ave., Norwalk, CT 06854-0566 |
|
(Address of Principal Executive Offices) (ZIP Code) |
Registrant's telephone number, including area code: (203) 838-2741
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
On November 20, 2012, mPhase Technologies, Inc. (the “Company”) formally received an Event of Default and Redemption Notice dated November 16, 2012 with respect to an 8% Convertible Note dated September 13, 2011 issued by the Company to St. George Investments LLC and assigned to John Fife. The Triggering Events include alleged defaults with respect to payments owed by the Company under the Convertible Note and the failure to convert the Note into shares of the Company’s common stock. The alleged amount owed according to the notice is approximately $902,279. The Company believes it has affirmative defenses to the actions of the holder of the Convertible Note as well as counterclaims against the Holder. The Company is hopeful that it will be able to find a solution to this matter acceptable to the Holder without legal action.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| mPHASE TECHNOLOGIES | |
|
By: |
/s/ Martin S. Smiley |
| Martin S. Smiley | |
| Executive Vice President, | |
| Chief Financial Officer and | |
| General Counsel | |
Date: November 23, 2012