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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Norms who wrote (10233)	6/30/1999 8:26:00 AM
From: Kirt F.	Respond to of 108040

Morning all: XDSL news, for those still long... mPhase Technologies, Inc. Announces $10 Million Private Placement Business Editors NORWALK, Conn.--(BUSINESS WIRE)--June 30, 1999--mPhase Technologies, Inc. (OTC BB:XDSL), a leading provider of DSL communications equipment which facilitates the convergence of broadband video, voice and data over the existing copper infrastructure, announced today that it has raised over $10 million of equity capital in a Private Placement transaction. The $10 million of proceeds will enable mPhase to complete the development of the Traverser Digital Video and Data Delivery System (DVDDS) Version 1.1, a system that allows telephone companies to offer 192 channels of digital television, high-speed internet and telephony over existing twisted pair wires. This funding will allow mPhase to bring the Traverser DVDDS to commercial production later this year. "We are extremely pleased to have secured the necessary financing to complete the development of the Traverser DVDDS," said Ronald A. Durando, President and CEO of mPhase Technologies. "This round of financing is a key ingredient in the development of the company's business plan," Durando continued. mPhase was advised by Lipper & Company who structured the offering and negotiated with investors on behalf of mPhase. Lipper & Company stated that it is "pleased to work with one of the most innovative technology companies in the telecommunications equipment sector and is excited about the acceptance of the Traverser product." About mPhase Technologies, Inc. mPhase Technologies, Inc. (http://www.mPhaseTech.com & www.mPhaseTV.net) is a leader in the emerging market for high-speed internet access and digital video delivery and provides data transmission at speeds up to 250 times faster than an existing 28.8K internet connection allowing digital television delivery, high-speed internet access, and telephone communications to be conducted over an existing telephone line. mPhase Technologies, Inc. had been profiled by Internet Stock News (http://www.internetstocknews.com), the web's leading resource for information about emerging internet companies. mPhase can be reached at info@mphasetech.com, or at 877/mPhaseTV. About Lipper & Company Founded in 1987 by Kenneth Lipper, Lipper & Company is a privately owned investment management and investment banking firm with approximately $5 billion in assets under management. Lipper & Company is a registered investment advisor and broker dealer, and a member of the National Association of Securities Dealers. Lipper & Company provides a full range of corporate finance and advisory services, including merger & acquisition advisory, structure and placement of financing and strategic negotiations. In the past several years, Lipper & Company has served as financial advisor to corporate buyers and sellers on investment banking transactions valued at over $6.0 billion. --30--APS/se* CONTACT: mPhase Technologies, Inc. Sue Cifelli, 203/831-2225 suecifelli@mPhaseTech.com or IP Equity Internet Investments. Dan Mutters, 800/997-3323 Dan@ipequity.com KEYWORD: CONNECTICUT NEW YORK INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED INTERACTIVE/MULTIMEDIA/INTERNET Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Jun-30-1999 06:23 GMT Symbols: US;XDSL Source BW Business Wire

To: Norms who wrote (10233)	6/30/1999 8:28:00 AM
From: Kirt F.	Read Replies (1) \| Respond to of 108040

Also DMEC news... e-DMEC Announced It has Entered Into Negotiations to Acquire Jade Capital Group Business Editors CERRITOS, Calif.--(BUSINESS WIRE)--June 30, 1999--Diamond Entertainment dba e-DMEC, Inc. (OTC:DMEC), in the business of distributing and selling general merchandise, announced today it has entered into negotiations to acquire Jade Capital Group who is in the process of creating three (3) financial service websites to offer financial services to small to medium companies in the areas of IPO's, Venture Capital Private Placements, and Debt Financing. The Company expects to successfully conclude its negotiations within 45 days and plans to acquire Jade Capital through the exchange of its restricted stock with those of the acquired company. "Sales over the Internet have evolved at an alarming rate-from $2 billion in 1996 to $19.2 billion in 1998, according to Forrester Research, of Cambridge, Mass. They estimate that e-commerce sites will generate revenues of $100 billion this year and $251 billion in 2000," stated James Lu, e-DMEC's CEO. "This newest development is a landmark in e-DMEC's aggressive direction to become a fully functioning e-commerce company. In establishing its online services, e-DMEC will also offer financial services to businesses which will expand e-DMEC's share of the e-commerce market and will also assist in its future alliances and acquisitions." The Company has filed for a 15 day extension to file its year ending March 31, 1999, 10KSB with the Securities and Exchange Commission. e-DMEC expects to file its 10KSB within the next 15 days and will be current and in compliance with its SEC filing requirements. e-DMEC has announced a delay in its official release and launching date of its Website to complete its final review of its structure and contents. As the result of adding new products and the proposed acquisition of new website services, the Company is revamping the Website contents and structure for the continuity required for e-commerce business. The Company will announce the official release date when the final review is completed and the e-commerce site has passed all tests in order to ensure quality assurance and safety for its clients. e-DMEC's e-commerce site is e-dmec.com As further developments conclude in our aggressive on-going plan for new products, alliances and acquisitions, e-DMEC will make timely new releases to keep the investment community informed. e-DMEC would like to thank its shareholders for their support as e-DMEC evolves towards being an upcoming major multi-product & services company in the e-commerce sector. Safe Harbor Act Disclaimer: This release may contain forward-looking statements that involve risks and uncertainties, including, without limitation, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, the company's dependence upon financing, third-party suppliers and intellectual property rights, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. --30--SL/na* CONTACT: Marketex, Atlanta Gary Swancey, 770/389-5645 marketex.net KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED ENTERTAINMENT INTERACTIVE/MULTIMEDIA/INTERNET MERGERS/ACQ Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Jun-30-1999 06:20 GMT Symbols: US;DMEC Source BW Business Wire