Stock We Have Been Following has entered letter of intent? C

STOCKTALK

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Gold/Mining/Energy
Stock We Have Been Following has entered letter of intent? C

An SI Board Since July 2011

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Emcee: turkeysrgr8t	Type: Unmoderated

Introduction Compact

I've been following a company for the last few years, and a new report has been published, And i do not undertsand what it means?
I've went into my local Scotttrade and LITERALLY spoke with 5 Reps there and NONE of them know what it means, or could explain what this paragraph means...
What we need clarification on...
Item 8.01. Other events
mPhase Technologies, Inc. (*XDSL*) has entered into a Letter Of Intent to aquire 81% of the Common Stock Of Energy Innovative Products for a combination of restricted common stock and warrants. A closing of the transaction is expected in October of 2011. All of the common stock will besubject to a lock-up agreement prohibiting any sale for a minimum period of 12 months from the closing date.
1. What are ramifications for shareholders of XDSL.ob?
2. Does this represent a merger?
3. What does the above paragraph mean in Laymens terms?
4. what are the benefits of doing this? or reasoning of doing this? will this mean the company will come up with an IPO?
Thanks for any clarification/Explanations.
Much Appreciated.
Adolf

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