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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Smiley Martin S.
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(Last) (First) (Middle)
C/O mPhase Technolgies, Inc.
587 Connecticut Avenue
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(Street)
Norwalk CT 06854
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol mPhase Technolgies, Inc. (XDSL)
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3. I.R.S. Identification Number of Reporting Person, if an entity
(voluntary)
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4. Statement for Month/Year August 2001
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
___ Director _X_ Officer ___ 10% Owner _X_ Other
(give title below) (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
_X__ Form filed by One Reporting Person
____ Form filed by More than One Reporting Person
Table I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ ----------------------------------------------- End of (D) or ficial
Year) Month Indirect Owner-
Code V Amount (A) or Price (Instr. 3 and 4) (I) ship
(D) (Instr. 4) (Instr. 4)
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Common Stock 8/8/01 P 5,000 A $1.00 82,500 D
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Common Stock 8/9/01 P 2,000 A $0.90
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Reminder: Report on a separate line for each class of securities benefically
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
FORM 4 (continued)
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
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Code V (A) (D)
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Employee Stock Option (right to $7.1875 8/21/00 A V 125,00
buy)
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Employee Stock Option (right to $5.0625 10/6/00 A V 30,000
buy)
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Employee Stock Option (right to $1.4688 12/29/00 A V 60,000
buy)
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Employee Stock Option (right to $1.05 4/17/01 A V 80,000
buy)
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Employee Stock Option (right to $1.05 4/17/01 A V 125,000
buy)
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Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Securities ficial
(Instr. ficially Bene- Owner-
-------------------------------------------- 5) Owned ficially ship
Date Expira- Amount or at End Owned at (Instr.
Exer- tion Title Number of of End of 4)
cisable Date Shares Month Month(1)
(Instr. 4) (Instr. 4)
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2/21/01(1) 8/21/10 Common 125,000 125,000 D
Stock
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10/6/00 10/6/10 Common 30,000 30,000 D
Stock
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12/29/00 12/29/10 Common 60,000 60,000 D
Stock
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4/17/01 4/17/11 Common 80,000 205,000 D
Stock
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4/17/01 4/17/11 Common 125,000
Stock
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Explanation of Responses:
(1) Vests 25% every six months commencing six months from the date of grant.
By: /s/ Martin S. Smiley 08/09/01
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** (Signature of Reporting Person)
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays a
currently valid OMB Number.