On July 11, 2022, the Board of Directors of mPhase Technologies, Inc. approved the termination of the employment of Anshu Bhatnagar as Chief Executive Officer and from all other employee or officer positions held with the Company and its subsidiaries, regardless of whether he served in such capacity. On July 28, 2022, in connection with the termination of his employment, Mr. Bhatnagar tendered his resignation as a member of the Board and the Board accepted such resignation.