Greetings friends, it's been awhile since I posted. Truth is, there
hasn't been much to report. The summer doldrums are upon us.
It was the fourth straight down week for Naz, the fifth losing week
for the Dow and the sixth for the S&P 500. Naz is at its worst level
in almost 10 months.

June $Volume on the OTCBB was almost as bad as May
http://www.otcbb.com/dynamic/tradingdata/sharedollarvolume/dollardata.htm
and we haven't even gotten to August yet which in 2002 and
2003 was the low $Volume for that year.

mPhase Technologies XDSL (.28) has been showing an increase
in insider buying lately
http://finance.yahoo.com/q/it?s=XDSL.OB

Click link below to see CEO Ronald Durando giving a 5/16/04 video
presentation to analysts
http://www.wallstreetreporter.com/videos/mPhase.html

mPhase Technologies Inc. develops and commercializes next-generation
Telecommunications and nanotechnology solutions, delivering novel systems
to the marketplace that advance functionality and reduce costs. In
telecommunications, the Company's mPhase TV+ platform cost-effectively
and reliably delivers entertainment digital television, high-speed Internet
access and traditional telephone service over existing copper telephone
lines. mPhase also offers a growing line of innovative DSL component
products, such as iPOTS, designed to help service providers lower the
provisioning and operating costs associated with DSL. The company is
bringing nanotechnology out of the laboratory and into the market with a
planned innovative long, life power cell.

84,806,295 s/o as of 5/12/04
Web site: www.mPhaseTech.com

QuickLink
More about Naked Short Selling and Companies being listed on
the Berlin Stock Exchange
http://www.investors.com/breakingnews.asp?journalid=22211703&brk=1

I'll keep you posted.
GP@Pennyheaven.com

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