UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

ANNUAL REPORT

FORM 10-K

(Mark One)

☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal period ended June 30, ~~2021~~2022

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT

Commission file number 000-27881

AS-IP TECH INC.

(Formerly ASI ENTERTAINMENT, INC.)

(Exact name of small business issuer as specified in its charter)

Delaware	52-2101695
(State or other jurisdiction of	(IRS Employer Identification No.)
incorporation or organization)

2/1/15 ~~Contour~~Castles ~~Close~~Drive

~~Research~~Torquay, Victoria, ~~3095~~3228, Australia

(Address of principal executive officers)

+1 424-888-2212

(Issuer’s telephone number)

Securities registered under Section 12(g) of the Exchange Act: Common Stock

Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark whether the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the last 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐ No ☒

Indicate by check mark if there is no disclosure of delinquent files in response to Item 405 of Regulation S-K is not contained in this form, and no disclosure will be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☒	Smaller reporting company ☒
	Emerging growth company ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of December 31, ~~2020~~2021, the aggregate market value of shares held by non-affiliates (based on the closing price of $0.1013 on that date) was approximately $2030,~~477~~866,~~554~~330.

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date.

Class Outstanding at October 612, ~~2021~~2022:

Common Stock, par value $0.0001 per share, ~~255~~279,~~149~~184,~~894~~653

Documents incorporated by reference: None

TABLE OF CONTENTS

PART I. 1 ITEM 1. DESCRIPTION OF BUSINESS. 1 ITEM 2. DESCRIPTION OF PROPERTY. 6 ITEM 3. LEGAL PROCEEDINGS. 6 ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. 6 PART II. 7 ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS. 7 ITEM 6. SELECTED FINANCIAL DATA. 7 ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION. 7 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. 9 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. 10 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE. 11 ITEM 9A. CONTROLS AND PROCEDURES. 11 PART III 13 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT. 13 ITEM 11. EXECUTIVE COMPENSATION. 13 ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT. 14 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE. 16 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 16 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 16 SIGNATURES 17

PART I.	1
ITEM 1. DESCRIPTION OF BUSINESS.	1
ITEM 2. DESCRIPTION OF PROPERTY.	6
ITEM 3. LEGAL PROCEEDINGS.	6
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.	6
PART II.	7
ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS.	7
ITEM 6. SELECTED FINANCIAL DATA.	7
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.	7
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.	9
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.	10
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.	11
ITEM 9A. CONTROLS AND PROCEDURES.	11
PART III	13
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT.	13
ITEM 11. EXECUTIVE COMPENSATION.	13
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.	14
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE.	15
ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES	15
ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES	16
SIGNATURES	17

iii

PART I.

FORWARD LOOKING STATEMENTS

THIS ANNUAL REPORT ON FORM 10-K INCLUDES “FORWARD-LOOKING STATEMENTS” AS DEFINED BY THE SECURITIES AND EXCHANGE COMMISSION. THESE STATEMENTS MAY INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY ANY FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS, WHICH INVOLVE ASSUMPTIONS AND DESCRIBE FUTURE PLANS, STRATEGIES AND EXPECTATIONS, ARE GENERALLY IDENTIFIABLE BY USE OF THE WORDS “MAY,” “WILL,” “COULD”, “SHOULD,” “EXPECT,” “ANTICIPATE,” “ESTIMATE,” “BELIEVE,” “INTEND” OR “PROJECT” OR THE NEGATIVE OF THESE WORDS OR OTHER VARIATIONS ON THESE WORDS OR COMPARABLE TERMINOLOGY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON ASSUMPTIONS THAT MAY BE INCORRECT. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE PUBLICLY ANY FORWARD-LOOKING STATEMENTS FOR ANY REASON, EVEN IF NEW INFORMATION BECOMES AVAILABLE OR OTHER EVENTS OCCUR IN THE FUTURE.

ITEM 1. DESCRIPTION OF BUSINESS.

THE COMPANY

(1) Form and year of organization

AS-IP Tech, Inc. (formerly ASI Entertainment, Inc.) was formed on April 29, 1998 as a Delaware corporation. The Company has an authorized capital of 500,000,000 shares of Common Stock, par value of $0.0001 per share (the “Common Stock”) and 50,000,000 shares of preferred stock, par value $0.0001 per share. All shares of Common Stock have equal voting rights, are non-assessable, and have one vote per share. The executive offices of the Company are located at 2/1/15 ~~Contour~~Castles ~~Close~~Drive, ~~Research~~Torquay, Victoria, ~~3095~~3228, Australia. The United States offices of the Company are located at ~~954~~100 ~~Lexington~~Park Ave, ~~Suite~~16th ~~242~~Floor, New York, NY ~~10021~~10017. The Company’s telephone number is +1 424-888-2212.

BUSINESS

(1) Principal products or services and their markets;

The Company’s ~~technology~~intellectual property comprises two product lines called ~~BizjetMobile and~~ fflya. ~~The products deliver inflight connectivity for business aviation~~ and ~~commercial airlines respectively~~BizjetMobile.

BizjetMobile provides corporate jets with an alternative global inflight connectivity solution and is marketed under the brand names CrewX, CHiiMP and BizjetInternet. They are mobile Apps which deliver a combination of highly optimized inflight text, chat, email, voice and internet for passengers and crew. The on-board network comprises an integrated satellite transceiver incorporating a Bluetooth hotspot that uses a set of algorithms and file management protocols that are custom built for aviation satellite networks. All communications are managed by a cloud-based gateway and report by user, flight, aircraft, file, and message type. As a result, passengers and crew receive unlimited inflight connectivity for a flat low monthly rate.fflya

~~fflya~~The ~~provides~~Company ~~airlines~~has ~~with~~launched a ~~customized~~new ~~global~~standard in inflight connectivity ~~approach,~~for ~~based~~Low-Cost onAirlines ~~the latest mobile App technology, narrowband satellite links and Bluetooth technology~~(LCA’s). The ~~fflya~~justification ~~platform~~is ~~reduces the installation~~simple, ~~certification~~LCA ~~and~~passengers ~~equipment~~on ~~costs by up to 90% compared to inflight broadband. In addition, it uses~~ a ~~cloud-based~~budget ~~messaging~~won’t ~~platform~~pay ~~capable~~for ~~of delivering real~~Wi-~~time demographic and profiling data~~Fi. ~~By incorporating embedded advertising and destination sponsors, fflya can deliver free messaging to airline passengers.~~

1The Company achieved this via a proprietary disruptive technology, and business model which has been validated by thousands of passengers inflight, sending tens of thousands of messages on Wizz Air, and can be summarised as follows:

~~BizjetMobile and fflya leverage off the existing Inmarsat & Iridium satellites, but will be further enhanced by Next Generation Iridium satellites and Iridium Certus for aviation.~~Technical

~~The~~·Core ~~Company~~revenue ~~has~~platform ~~commissioned~~is ~~over~~messaging. 98Communication ~~BizjetMobile systems since launch, operating across Asia Pacific, the America’s, Europe~~ and ~~the~~social ~~Middle~~contact ~~East~~drives everything.

~~Markets~~·AS-IP’s flight proven free messaging service, Email, SMS and WhatsApp are embedded into an airlines existing booking app providing immediate access to a huge database without app marketing costs.

~~BizjetMobile’s~~·Eliminates ~~target market is~~ the ~~business~~high ~~aviation~~costs ~~industry,~~associated ~~specifically~~with ~~international~~conventional ~~corporate~~Wi-Fi ~~jets~~installations ~~searching~~by ~~for~~creating an ~~alternative~~ ultra-low-cost ~~global~~system ~~inflight~~and ~~connectivity~~certification ~~solution~~process, ormaking ~~an-add~~it onsimple ~~service~~and toeconomical ~~reduce~~for ~~their~~an ~~operational~~airline ~~costs~~to install.

~~fflya’s~~·Remotely ~~target~~controls ~~market~~the ispassenger ~~primarily~~app ~~low~~interface ~~cost~~by ~~airlines (“LCA”) operating single aisle aircraft~~flight, ~~for~~to ~~example,~~engage ~~Boeing 737~~ and ~~Airbus~~influence ~~A320,~~what ~~that struggle to justify equipping their fleets with expensive Wi-Fi platforms as their business model targets~~ passengers ~~who~~do ~~are~~and ~~unwilling~~see towhile ~~pay.~~captive ~~Of the 18,000 commercial airliners currently in operation, the B737/A320 series account~~ for ~~13,000,~~2-4 ~~of which approximately 75% are operated by regional airlines and LCA’s~~hours. ~~Single aisle aircraft represent 75% of the 35,000 new aircraft forecast to be delivered over the next 20 years.~~

~~(2) Distribution methods of the products or services;~~1

~~The~~Business Company has BizjetMobile distributors which are related parties controlled by the Chapman family for the Americas, Europe and Asia Pacific, which market the products on a commission basis. fflya marketing is controlled by the Chapman family in conjunction with agents who will receive commissions from successful airline programs. The Company has also licensed PT. Jalin Angkasa Indonesia (JAI) as the exclusive marketing arm for Indonesia and Malaysia.Model

~~(3)~~·Use ~~Status~~Free ofmessaging ~~any~~as ~~publicly~~the ~~announced~~draw ~~new~~card ~~product~~to orcreate ~~service;~~revenue from paid promotions in the app.

~~fflya~~·Implement -a ~~Following~~Social ~~the~~Network ~~official~~invite ~~launch~~only ofapproach ~~the~~to ~~fflya~~drive ~~airline~~promotion ~~program~~before inpassengers ~~2018~~fly. atFlight ~~the~~tests ~~World~~confirm ~~Aviation~~inviting ~~festival~~friends ~~in London, the Company embarked on an extensive marketing campaign~~ to ~~secure~~chat aexpands ~~launch customer. Leading up to~~ the ~~launch,~~database ~~the~~by ~~program~~a ~~had~~multiple ~~completed ground and flight testing~~ of ~~the Bluetooth network with a major European Airline on an A380 and B777~~three. ~~Further internal testing was also conducted on B787 and A340.~~

~~Following~~·Create avirtual ~~further~~autonomous 18gateways ~~months~~that ofeliminate ~~airline discussion and presentations,~~ the ~~fflya~~conventional ~~program~~ISP ~~evolved~~facilities torequired ~~its~~by ~~current~~Wi-Fi ~~format~~systems. ~~As a direct result, ASIP announced agreements with Wizz Air and Citilink to trial the fflya system.~~

The ~~fflya~~combination ~~hardware~~of these components is why after 16 years of inflight Wi-Fi on major airlines, ~~apps~~multibillion dollar organisations such as, ~~gateway~~VIASAT/INMARSAT, UTELSAT and ~~support~~INTELSAT, ~~system~~ are ~~developed~~still ~~and~~unable ~~supplied~~to byaddress athe ~~related~~LCA ~~party~~market, ~~ASiQ~~including ~~Pty~~the ~~Ltd~~new Starlink (~~ASiQ~~Elon Musk), ~~under~~Wi-Fi service. On the IPground, ~~acquisition~~Starlink ~~agreement~~charges ~~and~~double ~~comprises,~~the aprice ~~router~~of ~~that~~the ~~connects~~incumbent ~~passengers~~networks. ~~via~~With ~~Bluetooth~~inflight Wi-Fi already expensive, ~~and~~convincing aairlines ~~revolutionary~~to ~~window~~switch ~~antenna~~to ~~system~~a ~~that~~faster ~~connects~~service, towith the ~~Iridium~~control ~~satellite~~the ~~network.~~incumbents ~~ASIP~~have ~~contracts~~over the ~~service~~existing ~~and~~8,000 ~~hardware~~major ~~under~~airlines ~~commercial~~aircraft ~~terms~~will onbe a ~~program-by-program~~major ~~basis~~challenge.

~~The systems proprietary software app facilitates free passenger messaging~~Regardless, ~~profiled~~LCA ~~and~~passengers ~~embedded~~on ~~with~~a ~~sponsors~~budget ~~and links. It can be embedded into an airline~~won’st ~~existing~~pay ~~booking~~for ~~App~~Wi-Fi, ~~which~~and ~~can~~this ~~create an instant database of millions of potential users when the airline app~~ is ~~updated,~~clearly inunderstood ~~addition to the ability to brand each service or icon. Every text message can include an embedded sponsor i.e. delivered~~ by ~~XXXX or branded by sponsor or airline, and every free email can incorporate sponsored promotions i.e. logos or links promoting~~ the ~~airline~~major LCA’s ~~service~~in orEurope, ~~sponsors.~~Wizz ~~In addition to messaging~~Air, ~~fflya provides 45~~Ryanair,~~000~~ ~~tours~~Jet2 and ~~attractions~~EasyJet, ~~via~~who aoperate ~~partnership~~over ~~with~~1,400 ~~Viator~~aircraft, (aleaving ~~Trip~~this ~~Advisor~~unique ~~company)~~market ~~programmed~~opportunity to the ~~passenger~~Company ~~destination~~and byits ~~flight~~proprietary technology.

~~The complete~~ fflya ~~hardware~~provides ~~solution~~airlines iswith ~~lightweight~~a ~~and~~customized ~~low-cost~~global asinflight itconnectivity ~~doesn’t~~approach, ~~require~~based ~~expensive~~on ~~broadband~~the ~~satellite~~latest ~~connections. As~~mobile aApp ~~result~~technology, ~~minimal~~narrowband ~~revenue~~satellite islinks ~~required~~and toBluetooth ~~fund~~technology. ~~the~~The ~~entire~~fflya ~~installation.~~platform Byreduces ~~providing~~ the ~~system~~installation, oncertification, aand ~~revenue~~equipment ~~sharing~~costs ~~basis,~~by ~~ASIP~~up ~~gains~~to ~~exclusive~~95% ~~access~~compared to ~~one~~inflight ofbroadband. ~~the~~In ~~most~~addition, ~~highly~~it ~~desirable~~uses ~~markets.~~a Acloud-based ~~captive,~~messaging ~~cashed~~platform ~~up,~~capable ~~leisure~~of ~~traveller~~delivering real-time demographics.

2Passengers get:

~~CrewX~~·Free ~~(Crew~~SMS, ~~Exchange)~~WhatsApp ~~- is an entry level ultra-low cost core communications platform for business jets~~ and ~~the simplest way to keep crew connected. For airlines~~Email, ~~CrewX is a Bluetooth communications framework that can be easily embedded into any existing crew App or operate as a stand-alone App~~ and ~~provides~~they adon’t ~~virtual~~need ~~private secure network for crew to enhance efficiency of crew communications on-board the aircraft, without needing to install certified aircraft servers,~~ Wi-Fi ~~networks or perform modifications~~ to ~~the~~do ~~aircraft systems~~it.

~~(4)~~Airlines ~~Competitive~~get: ~~business conditions and the small business issuer’s competitive position in the industry and methods of competition;~~-

~~Competition~~·A free satellite system.

~~Business~~·New ~~Jet~~ancillary revenue streams.

~~BizjetMobile~~·A isfree ~~focused~~real ~~on the global market because of its use of satellite communications. In the USA~~time, ~~the business jet market is dominated GOGO Inc. (formally Aircell). GOGO’s system connects passenger devices via Wi~~in-Fiflight, ~~having~~fully ~~implemented~~verified ancredit ~~exclusive~~card ~~terrestrial~~payment ~~wireless~~platform ~~radio network across the domestic United States~~ for ~~transmission~~In-app ~~off~~and ~~the~~EFTPOS ~~aircraft.~~that ~~GOGO~~will ~~has~~eliminates ~~approximately~~card ~~5,000+~~default ~~domestic business jets connected to its system~~problems.

~~Internationally~~·Live ~~GOGO~~feed ~~has~~telemetry ~~equipped~~data ato ~~further~~enhance ~~4,737~~operation ~~aircraft~~without ~~with~~data ~~the Aircell (division of GOGO) Iridium satellite telephone systems~~charges. These are legacy satellite systems that cannot deliver Internet. ASIP’s ChiiMP system enhances the Iridium telephone with messaging services and several BizjetMobile customers are connected via the Aircell Iridium systems. GOGO is also an INMARSAT reseller and has equipped several international aircraft with Wi-Fi. These systems are mainly installed at factory on larger jets and range in price from $150 - $650K. A second company VIASAT, also competes for the large jets with a similar $650K international solution.

~~Other~~The ~~non~~Company’s USairline business ~~jet~~model ~~competition~~is based on a revenue sharing basis. Revenue is generated from embedded advertising, E-Commerce, live payment and destination sponsors.

~~While there are multiple Iridium Telephone System resellers globally and some with basic Iridium messaging capability, none can match the capabilities of the~~ BizjetMobile ~~product range as BizjetMobile is the leader in inflight Bluetooth connectivity.~~

~~Airlines~~BizjetMobile provides corporate jets with an alternative global inflight connectivity solution and is marketed under the brand names CrewX, CHiiMP and BizjetInternet. Each product is a mobile App which deliver a combination of highly optimized inflight text, chat, email, voice and internet for passengers and crew. The on-board network comprises an integrated satellite transceiver incorporating a Bluetooth hotspot that uses a set of algorithms and file management protocols that are custom built for aviation satellite networks. All communications are managed by a cloud-based gateway and report by user, flight, aircraft, file, and message type. As a result, passengers and crew receive unlimited inflight connectivity for a flat low monthly rate.

InThe ~~the~~Company ~~airline~~has ~~market,~~commissioned ~~fflya~~over ~~will~~110 ~~compete~~BizjetMobile ~~against~~systems ~~major~~since ~~Wi-Fi~~launch, ~~inflight~~operating ~~industry~~across ~~players,~~Asia ~~Panasonic~~Pacific, ~~Intelsat~~the ~~(which recently acquired GOGO~~America’s ~~airline business)~~, ~~GEE,~~Europe ~~Thales,~~and ~~VIASAT~~the ~~and~~Middle ~~INMARSAT~~East.

Panasonic, GEE and Thales are resellers of satellite services, whereas VIASAT, Intelsat and INMARSAT are satellite owner-operators. The primary market for all these vendors is predominantly Tier 1 airlines and national flag carriers. These airlines provide business travellers with an adequate level of internet connectivity at a cost per flight similar to the daily rate of many 5-star hotels. In some cases, first and business class passengers receive this service free of charge.Markets

~~Equipment,~~fflya’s ~~installation~~target ~~and~~market ~~certification~~is ~~costs~~primarily onlow ~~Wi-Fi~~cost ~~platforms~~airlines ~~are~~(“LCA”) ~~substantial~~operating ~~and~~single ~~where~~aisle ~~possible~~aircraft, ~~most~~for ~~airlines~~example, ~~will~~Boeing ~~exercise~~737 ~~the~~and ~~option~~Airbus A320, that struggle to ~~have~~justify itequipping ~~factory~~their ~~installed~~fleets onwith ~~new~~expensive ~~aircraft.~~Wi-Fi ~~Approximately~~platforms ~~25%~~as oftheir ~~the~~business ~~world’s~~model ~~airlines~~targets passengers who are ~~currently~~unwilling ~~equipped~~to ~~with~~pay. ~~inflight~~Of ~~Wi-Fi~~the 18,000 commercial airliners currently in operation, the ~~majority~~B737/A320 ofseries ~~which~~account ~~are~~for ~~either~~13,000, inof ~~the~~which ~~U.S.A~~approximately or75% are ~~long~~operated ~~haul~~by ~~wide~~regional ~~body~~airlines ~~Boeing~~ and ~~Airbus aircraft~~LCA’s. ~~Recent~~Single ~~forecasts~~aisle ~~suggest~~aircraft ~~that~~represent ~~half~~75% of the ~~world’s~~35,000 ~~airlines~~new ~~will~~aircraft forecast to be ~~fully~~delivered ~~equipped~~over bythe ~~2025~~next 20 years.

~~The~~BizjetMobile’s ~~challenge~~target ~~for~~market ~~the Company to compete,~~ is ~~to target~~ the ~~remaining~~business ~~market~~aviation ~~and~~industry, ~~create~~specifically ainternational ~~platform~~corporate ~~and~~jets ~~business~~searching ~~model~~for ~~that~~an ~~eliminates~~alternative ~~the~~low-cost ~~financial~~global ~~risk,~~inflight ~~generates~~connectivity ~~new~~solution ~~revenue,~~or ~~enhances~~an-add ~~the~~on ~~passenger~~service ~~experience,~~to ~~and~~reduce ~~removes~~their ~~the high~~ operational~~/user~~ costs ~~associated with heavy and expensive Wi-Fi platforms~~.

The Company meets these challenges by targeting only the LCA market with a platform that is 95% lighter and cheaper and controlled by a proprietary gateway protocol that is up to 90% more efficient in delivering today’s mobile App-based communications. This creates the ability to deliver a sponsored free texting 2

3(2) Distribution methods of the products or services;

~~service~~BizjetMobile ~~and~~distributors ~~generate~~are ~~new~~related ~~revenue~~parties ~~from~~controlled ~~multiple~~by ~~inflight~~the ~~e-commerce~~Chapman ~~opportunities.~~family ~~AS-IP’s~~for ~~unique program targets LCA’s which represent approximately 50% of~~ the ~~airline world~~Americas, ~~flying~~Europe ~~mainly Boeing B737~~ and ~~Airbus~~Asia ~~A320~~Pacific, ~~series aircraft~~ and ~~carry~~market ~~around~~the 2products ~~billion~~on ~~disconnected~~a ~~leisure~~commission ~~passengers~~basis.

Tofflya ~~deliver~~marketing ~~Wi-Fi~~is ~~into~~controlled aircraft, all existing aviation internet providers rely on Geostationary Satellites (GEO’s). GEO’s orbit 36,000 kilometres above the equator. This creates signal latency up to 10 times greater than a mobile phone network. As a result, internet speed by ~~comparison to what’s on~~ the ~~ground~~Chapman isfamily ~~very~~in ~~slow,~~conjunction ~~usually~~with ~~between 12-15 Mbps per aircraft~~agents, ~~which~~who ~~is why there are constant complaints about the level of service. As on average, only 6% of passengers~~ will ~~pay~~receive ~~for~~commissions ~~inflight~~from ~~Wi-Fi,~~successful ~~major~~airline ~~airlines are prepared to offer this limited capability to satisfy their frequent and business flyers~~programs. ~~In the majority of cases, the installation and equipment is funded by the Wi-Fi service provider, so the airlines’ financial risk is mitigated.~~

~~Industry~~(3) ~~insiders~~Status ~~are suggesting that having 5 companies fighting over the same major airline segment may no longer be viable. Particularly when you consider that prior to its sale after 10 years~~ of ~~operation,~~any ~~the~~publicly ~~GOGO~~announced ~~airline~~new ~~business,~~product ~~had~~or ~~yet to make a profit.~~service;

~~With~~fflya - Following 3 months of flight trials, the ~~recent~~Company ~~impact~~announced a final agreement with Wizz Air to equip its UK fleet of ~~Covid19~~nineteen ~~grounding~~A32X ~~global~~series ~~fleets,~~aircraft. ~~revenue~~The ~~sources~~first ~~for~~aircraft ~~Wi-Fi~~is ~~providers~~equipped ~~from~~and ~~paying~~in ~~passengers~~operation ~~has~~and ~~been~~further ~~dramatically~~installations ~~reduced~~will ascommence ~~their~~in ~~business~~October. More ~~models~~recently, ~~predominantly~~the ~~rely~~Company successfully flight tested on ~~business~~Wizz ~~travellers.~~Air, ~~Most~~fflya’s ~~industry~~world’s ~~sources~~first ~~suggest~~in ~~this~~flight ~~will~~Bluetooth bepayment ~~slowest~~solution ~~area~~incorporating tolive ~~recover~~in-app credit card payment. To demonstrate the capability, ~~versus~~the Company incorporated the ~~leisure~~Food ~~traveller~~and ~~who~~Boutique ~~has~~menu ~~been~~into ~~bottled~~the upfflya messaging app, allowing an order to be placed, paid for by credit card and a ~~year~~receipt return to the app.

The fflya’s ~~Bluetooth~~hardware, ~~technology~~apps, ~~leverages~~gateway ~~off~~and ~~Low~~support ~~Earth~~system ~~Orbit~~are ~~satellites~~developed ~~(LEO’s).~~and Assupplied ~~LEO’s~~by ~~operate~~a ~~800~~related ~~kilometres~~party, ~~above~~ASiQ ~~the~~Pty ~~earth~~Ltd (ASiQ), ~~latency~~under isthe ~~similar~~IP toacquisition agreement and comprises, a ~~mobile~~router ~~phone~~that ~~network.~~connects ~~While~~passengers ~~todays~~via ~~Iridium~~Bluetooth, ~~Next~~and ~~LEOs~~a ~~offer~~revolutionary ~~far~~window ~~less~~antenna ~~bandwidth~~system ~~than~~that ~~GEO’s,~~connects ~~their~~to ~~low~~the ~~cost~~Iridium ~~and~~satellite ~~low~~network. ~~latency~~The ~~are~~Company ~~perfectly~~contracts ~~suited~~the toservice ~~connect~~and ~~fflya’s~~hardware ~~Bluetooth~~under ~~app~~commercial terms on a program-~~based~~by-program ~~technology~~basis.

~~fflya~~BizjetMobile is– ~~future~~BizjetMobile ~~proofed~~LLC ashas itannounced ~~does not rely on~~ the ~~high~~first ~~cost~~corporate ofaircraft ~~broadband~~test orbed ~~Wi-Fi~~was toequipped ~~deliver~~with ~~its~~the ~~services.~~Bizjetinternet ~~There~~Certus ~~are 3 key components that suit LCA’s: Text~~service, ~~Telemetry~~connecting ~~and Credit Card Payment. All are delivered~~ via ~~short burst data which specifically suits~~ the ~~fflya~~new ~~Bluetooth~~next ~~and~~generation Iridium ~~data platforms~~satellites.

~~Future~~(4) ~~LEO~~Competitive ~~networks~~business ~~such~~conditions asand ~~OneWeb~~the ~~and~~small ~~Elon~~business ~~Musk~~issuer’s ~~Starlink~~competitive ~~while~~position ~~promoting faster speeds and lower latency, still rely on broadband. Both operate~~ in the ~~same~~industry ~~frequency spectrum as the existing inflight Wi-Fi providers. The governing factor in those frequencies are the enormously expensive~~ and ~~large~~methods ~~antenna~~of ~~($250K).~~competition;

Tier 1 airlines which already have the antennas installed, may see this an option if the price, service and profit potential dictates. However, offering inflight internet, and actually delivering it profitably, is another story. As far as the industry is concerned, the jury is still out.Competition

The Company believes it will be able to compete with other companies in both the business aircraft and commercial airline fields because of our very low equipment costs, unique business model and little or no certification issues.Airlines

~~(5)~~The ~~Sources~~landscape ~~and~~of ~~availability~~the ofairline ~~raw~~Wi-Fi ~~materials~~market ~~and~~has changed over the ~~names~~past 18 months, due to the impact of ~~principal~~Covid. ~~suppliers;~~Intelsat ~~amortization~~acquired GOGO’s airline business, ~~engineering~~Eutelsat acquired GEE, ~~marketing~~VIASAT and ~~communication~~INMARSAT ~~costs~~have proposed a merger.

~~The~~New ~~principal~~satellite ~~supplier~~operators, ofStarlink ~~systems~~ and ~~services~~OneWeb towill ~~the~~compete ~~company~~with isthese ~~ASiQ~~companies in 2023, ~~controlled~~proposing bya ~~Ron~~faster ~~Chapman~~service, ~~the~~however ~~President~~they ofwill face the ~~Company.~~same Asissue ~~part~~in that research shows that less than 10% of ~~the~~passengers ~~original~~are IPprepared ~~acquisition~~to ~~agreement~~pay for Wi-Fi, plus the ~~Company~~incumbents ~~was~~already ~~required~~control tothe ~~secure~~market ~~the~~space ~~service~~with oflong ~~Ron~~term ~~Chapman~~contracts. ItThese isnew ~~Ron~~satellite ~~and~~networks ~~ASIQ’s~~cost ~~reputation~~up into 3-4 time more than the ~~aviation~~incumbents ~~industry,~~and ~~that~~their ~~provides~~business models also rely on paying for Wi-Fi. As they operate in the ~~credibility,~~identical ~~drives~~K-band transmission frequencies, the ~~direction~~equipment, installation and ~~creates~~service ~~the~~cost ~~programs~~will ~~for~~still ~~the~~be ~~Company~~high. The ~~Chapman~~net ~~family~~effect ~~controls~~is ~~all~~similar ~~marketing~~to onmigration ~~behalf~~from of4G versus 5G. The user gets more data faster, but the ~~Company~~price remains virtually the same.

~~(6)~~The ~~Dependence~~primary onmarket ~~one~~for orall these vendors is predominantly Tier 1 airlines and national flag carriers. These airlines provide business travellers with an adequate level of internet connectivity at a ~~few~~cost ~~major~~per ~~customers~~flight similar to the daily rate of many 5-star hotels. In some cases, first and business class passengers receive this service free of charge.

~~The~~Equipment, ~~Company~~installation ~~will~~and becertification ~~dependent~~costs on ~~its~~Wi-Fi ~~distribution~~platforms ~~network~~are tosubstantial ~~market~~and where possible, most airlines will exercise the ~~product~~option to ~~generate~~have ~~income~~it ~~from~~factory ~~hardware~~installed ~~sales~~on ~~and~~new ~~service~~aircraft. ~~fees~~Approximately ~~and~~one ~~its~~third ~~airline~~of ~~marketing~~the ~~partners~~world’s toairlines ~~secure~~are ~~airline~~equipped ~~programs.~~with ~~The~~inflight ~~timing~~Wi-Fi, ~~and~~the ~~extent~~majority of ~~that~~which ~~marketing~~are ~~will~~either bein ~~dependent~~the onU.S.A ~~the~~or ~~resources~~are ~~and~~long ~~efforts~~haul wide body aircraft. Recent forecasts suggest that half of the ~~Company,~~world’s ~~its~~airlines ~~distributors,~~will ~~and~~be ~~partners~~fully equipped by 2025.

4The challenge for the Company to compete, is to target the remaining market and create a platform and business model that eliminates the financial risk, generates new revenue, enhances the passenger experience, and removes the high operational/user costs associated with heavy and expensive Wi-Fi platforms.

~~(7)~~The ~~Patents,~~Company ~~trademarks,~~meets ~~licenses,~~these ~~franchises,~~challenges ~~concessions,~~by ~~royalty~~targeting ~~agreements~~only orthe ~~labor~~LCA ~~contracts,~~market ~~including~~with ~~duration;~~a platform that is 95% lighter and cheaper and controlled by a proprietary gateway protocol that is up to 95% more efficient in delivering today’s

The Company originally acquired the application for an Australian patent and received notification that the International Preliminary Report on Patentability had been established. The Company filed national phase patent applications in Australia, the United States, China and European Union. In January 2010, the Company received the Australian patent. In January 2012, the Company received the Chinese patent. With the advent of Bluetooth Smart, the technology and the Company’s IP has advanced to a point where the patent was no longer relevant. The Company subsequently decided to proceed no further with the patents, as the technology is predominately software based and protected by copyright.3

~~(8)~~mobile ~~Need~~App-based ~~for~~communications. ~~any~~This ~~government~~creates ~~approval~~the ofability ~~principal~~to ~~products~~deliver ora ~~services.~~sponsored Iffree ~~government~~texting ~~approval~~service isand ~~necessary~~generate ~~and~~new ~~the~~revenue ~~small~~from ~~business~~multiple ~~issuer~~inflight ~~has~~e-commerce ~~not~~opportunities. ~~yet~~AS-IP’s ~~received~~unique ~~that~~program ~~approval,~~targets ~~discuss~~LCA’s ~~the~~which ~~status~~represent approximately 50% of the ~~approval~~airline ~~within~~world, ~~the~~flying ~~government~~mainly ~~approval~~Boeing ~~process~~B737 and Airbus A320 series aircraft and annually carry around 2 billion disconnected leisure passengers.

~~Installation~~fflya’s ~~and~~Bluetooth ~~use~~technology ofleverages ~~aircraft~~off ~~avionics~~new ingeneration ~~aircraft~~Iridium ~~requires~~Low ~~prior~~Earth ~~certification~~Orbit ~~and~~satellites ~~approval~~(LEO’s). byAs LEO’s operate 800 kilometres above the ~~Federal~~earth, ~~Aviation~~latency ~~Administration~~is ~~(“FAA”)~~similar ~~and~~to ~~equivalent~~a ~~regulatory~~mobile ~~authorities~~phone ofnetwork. ~~foreign~~Iridium ~~governments~~Next onLEOs ~~each~~offer ~~aircraft~~a ~~type~~midband ~~and~~service ~~for~~so ~~each~~their ~~airline,~~low ~~although~~cost ~~FAA~~and ~~approval~~low latency is ~~generally~~perfectly ~~globally~~suited ~~acceptable~~to connect fflya’s Bluetooth app-based technology.

~~Normally~~fflya ~~the~~is ~~certification~~future ~~process~~proofed ~~begins~~as ~~with~~it ~~the~~does ~~installation~~not ofrely ~~the system~~ on an aircraft after which it is certified by an accredited engineer and organisation. The certification is then applicable to similar aircraft types and modified for other aircraft type. In countries other than the ~~United~~high ~~States,~~cost ~~the~~of ~~equivalent~~broadband ~~aviation~~or ~~authority~~Wi-Fi ~~procedures will apply~~ to ~~the~~deliver ~~certification~~its ~~of the system, but the United States FAA is generally accepted by local certifying authorities throughout the world~~services. ~~Prior~~There toare ~~certification~~three ~~and~~key ~~approval,~~components ~~the manufacturer demonstrate~~ that ~~the~~suit ~~system~~LCA’s: ~~has~~Text, ~~been~~Telemetry ~~designed~~ and ~~manufactured~~Credit ~~and~~Card ~~complies with the appropriate aviation standards~~Payment. ~~Historically,~~All ~~ASiQ~~are ~~has~~delivered ~~followed~~via ~~the~~short ~~certification~~burst ~~path~~data ofwhich ~~DO-160~~specifically ~~for~~suits ~~hardware and DO-178 for software. Following this step,~~ the ~~system~~fflya ~~must~~Bluetooth ~~be installed on an aircraft~~ and ~~tested,~~Iridium ~~including~~data ~~a ground and flight test~~platforms.

~~Due~~The ~~to Covid over the past 12-month period, the~~ Company’s ~~industrial~~believes ~~partner~~it ~~ASiQ,~~will ~~was~~be ~~forced~~able to ~~take~~compete anwith ~~alternative~~other ~~approach.~~companies ~~As our launch customer Wizz Air’s head office was~~ in ~~Hungary, we selected one of their UK registered aircraft for~~ the ~~flight~~commercial ~~trial.~~airline ~~This~~field ~~enabled~~because ~~ASiQ~~of toAS-IP’s ~~engage~~very ~~EU/UK~~low ~~aviation~~equipment ~~certified~~costs, ~~companies~~unique tobusiness ~~produce~~model ~~the engineering/certification package~~ and ~~manufacture~~little ~~the~~or ~~certified~~no ~~installation~~certification ~~kit~~issues.

~~ASiQ~~Business originally designed the business aircraft system to be is installed as a “Portable Electronic Device” PED and as such, little or no certification is required. The Company could now embark on the same process for airlines, which will ultimately lead to a lower cost certifiable platform.Jet

AsBizjetMobile is focused on the ~~App~~global ismarket ~~installed~~because onof aits ~~mobile~~use ~~phone~~of orsatellite ~~tablet~~communications. In the USA, ~~which~~the ~~are~~business ~~regarded~~jet asmarket ~~carry~~is ondominated ~~devices~~GOGO ~~and~~Inc. ~~operated~~(formally inAircell). ~~“flight”~~GOGO’s orsystem ~~“offline”~~connects ~~mode~~passenger devices via Wi-Fi, nohaving ~~aircraft~~implemented ~~certification~~an isexclusive ~~required~~terrestrial ~~however,~~wireless inradio network across the ~~majority~~domestic ofUnited ~~cases~~States for transmission off the ~~final~~aircraft. ~~approval~~GOGO ~~for~~has ~~use~~approximately in5,000+ ~~flight~~domestic ~~will~~business bejets atconnected ~~the~~to ~~discretion~~its ofsystem. A ~~the~~second ~~aircraft~~company, ~~operator~~SmartSky Networks, is building a similar USA terrestrial network to compete with GOGO.

AsInternationally GOGO has equipped a ~~result~~further 4,737 ~~following~~aircraft ~~successful~~with ~~operational~~the ~~approval~~Aircell (division of ~~fflya~~GOGO) ~~onboard~~Iridium satellite telephone systems. These are legacy satellite systems that cannot deliver Internet. The ChiiMP system enhances the ~~Wizz~~Iridium ~~Air~~telephone ~~Airbus~~with ~~A321~~messaging ~~test~~services ~~aircraft,~~and several BizjetMobile customers are connected via the ~~Company~~Aircell ~~recently~~Iridium ~~commenced~~systems. ~~airline~~GOGO ~~testing~~is ~~using~~also ~~cabin~~an ~~crew~~INMARSAT reseller and has equipped several international aircraft with Wi-Fi. ~~Passenger~~ ~~trials~~These systems are ~~expected~~mainly toinstalled ~~follow~~at factory on larger jets and range in ~~early~~price ~~October~~from $150K - $650K. A second company VIASAT, also competes for the large jets with a similar $650K international solution.

~~Finally,~~Other ~~both~~non ~~programs’~~US ~~Android~~business ~~and~~jet ~~IOS Apps are based on a Bluetooth network and Bluetooth has been tested and documented as safe for use in aircraft, which simplifies the operator acceptance process~~competition.

~~(9)~~While ~~Effect~~there are multiple Iridium Telephone System resellers globally and some with basic Iridium messaging capability, none can match the capabilities of ~~existing~~the orBizjetMobile ~~probable~~product ~~governmental~~range ~~regulations~~as onBizjetMobile is the ~~business;~~leader in inflight Bluetooth connectivity.

~~The~~(5) ~~company~~Sources ~~must~~and ~~maintain~~availability ~~good~~of ~~standing,~~raw ~~comply~~materials ~~with applicable local business licensing requirements, prepare~~ and ~~file periodic reports under~~ the ~~Securities~~names ~~Exchange Act~~ of ~~1934,~~principal assuppliers; ~~amended~~amortization, ~~and comply with other applicable securities laws~~engineering, ~~rules~~marketing and ~~regulations.~~communication costs

~~Existing~~The orprincipal ~~probable~~supplier ~~governmental~~of ~~regulations~~systems ~~have~~and ~~not~~services ~~impacted~~to ~~our~~the ~~operations~~company ~~except~~is ~~for~~ASiQ, controlled by Ron Chapman, the ~~increased~~President ~~costs~~of the Company. As part of ~~compliance~~the ~~with~~original ~~reporting~~IP ~~obligations~~acquisition agreement, the Company was required to secure the service of Ron Chapman. ~~These~~It ~~additional~~is ~~costs~~Ron ~~remain~~and ~~consistent~~ASIQ’s asreputation ~~long~~in asthe aviation industry, that provides the ~~company~~credibility, ~~continues~~drives asthe adirection, ~~reporting~~and ~~corporation~~creates the programs for the Company. The Chapman family controls all marketing on behalf of the Company.

5(6) Dependence on one or a few major customers.

~~(10)~~The ~~Estimate~~Company ofwill ~~the~~be ~~amount~~dependent ~~spent~~on ~~during~~its ~~each~~distribution ofnetwork to market the ~~last~~product ~~two~~to ~~fiscal~~generate ~~years~~income onfrom ~~research~~hardware sales and ~~development~~service ~~activities,~~fees and ifits ~~applicable~~airline ~~the~~marketing ~~extent~~partners to ~~which~~secure ~~the~~airline ~~cost~~programs. The timing and extent of ~~such~~that ~~activities~~marketing iswill ~~borne~~be ~~directly~~dependent byon ~~customers;~~the resources and efforts of the Company, its distributors, and partners.

~~The~~(7) ~~Company~~Patents, ~~estimates~~trademarks, ~~over the last 2 years~~licenses, ~~it has expended in excess of $500~~franchises,~~000~~ ~~on research and development~~concessions, ~~none~~royalty ofagreements ~~which~~or ~~has~~labor ~~been~~contracts, ~~borne~~including ~~by the customers.~~duration;

~~(11)~~The ~~Costs~~Company originally acquired the application for an Australian patent and ~~effects~~received ofnotification ~~compliance~~that ~~with~~the ~~environmental~~International ~~laws~~Preliminary ~~(federal~~Report on Patentability had been established. The Company filed national phase patent applications in Australia, ~~state~~the ~~and~~United ~~local);~~States, China and European Union. In January 2010, the Company received the Australian patent. In January 2012, the Company received the Chinese patent. With the advent of Bluetooth

~~Not applicable~~4

~~(12)~~Smart, ~~Number~~the oftechnology ~~total~~and ~~employees~~the ~~and~~Company’s ~~number~~IP ofhas ~~full~~advanced ~~time~~to ~~employees~~a point where the patent was no longer relevant. The Company subsequently decided to proceed no further with the patents, as the technology is predominately software based and protected by copyright.

~~The~~(8) ~~company~~Need ~~does~~for ~~not~~any ~~have~~government ~~any~~approval ~~employees,~~of ~~instead~~principal ~~contracts~~products or services. If government approval is necessary and the ~~Chief~~small ~~Financial~~business ~~Officer~~issuer has not yet received that approval, asdiscuss ~~well~~the asstatus ~~contracting~~of ~~marketing~~the ~~and~~approval ~~technical~~within ~~services~~the asgovernment ~~required~~approval process.

~~ITEM~~Installation 2.and ~~DESCRIPTION~~use OFof ~~PROPERTY~~aircraft avionics in aircraft requires prior certification and approval by the Federal Aviation Administration (“FAA”) and equivalent regulatory authorities of foreign governments on each aircraft type and for each airline, although FAA approval is generally globally acceptable.

Normally the certification process begins with the installation of the system on an aircraft after which it is certified by an accredited engineer and organisation. The ~~Company~~certification ~~maintains~~is ~~its~~then ~~corporate~~applicable ~~administration~~to ~~office~~similar ataircraft ~~2/1~~types ~~Contour~~and ~~Close~~modified for other aircraft type. In countries other than the United States, ~~Research~~the equivalent aviation authority procedures will apply to the certification of the system, ~~Victoria~~but the United States FAA is generally accepted by local certifying authorities throughout the world. Prior to certification and approval, ~~3095~~the manufacturer demonstrate that the system has been designed and manufactured and complies with the appropriate aviation standards. Historically, ~~Australia~~ASiQ has followed the certification path of DO-160 for hardware and DO-178 for software. Following this step, the system must be installed on an aircraft and tested, including a ground and flight test.

~~ITEM~~Due 3to Covid over the previous 12-month period, the Company’s industrial partner ASiQ, was forced to take an alternative approach. ~~LEGAL~~As ~~PROCEEDINGS~~AS-IP’s launch customer Wizz Air’s head office is in Hungary, we selected one of their UK registered aircraft for the flight trial. This enabled ASiQ to engage EU/UK aviation certified companies to produce the engineering/certification package and manufacture the certified installation kit.

~~The~~ASiQ ~~Company~~originally designed the business aircraft system to be is ~~not~~installed as a ~~party~~“Portable toElectronic ~~any~~Device” ~~litigation~~PED and ~~management~~as ~~has~~such, nolittle ~~knowledge~~or ofno ~~any~~certification ~~threatened~~is orrequired. ~~pending~~The ~~litigation~~Company ~~against~~utilises the ~~Company~~same process for airlines, which will ultimately lead to a lower cost certifiable platform.

~~ITEM~~As 4.the ~~SUBMISSION~~App OFis ~~MATTERS~~installed TOon Aa ~~VOTE~~mobile OFphone ~~SECURITY~~or ~~HOLDERS~~tablet, which are regarded as carry on devices and operated in “flight” or “offline” mode, no aircraft certification is required however, in the majority of cases the final approval for use in flight will be at the discretion of the aircraft operator.

~~Not~~Finally, ~~applicable~~both programs’ Android and IOS Apps are based on a Bluetooth network and Bluetooth has been tested and documented as safe for use in aircraft, which simplifies the operator acceptance process.

6(9) Effect of existing or probable governmental regulations on the business;

~~PART~~The IIcompany must maintain good standing, comply with applicable local business licensing requirements, prepare and file periodic reports under the Securities Exchange Act of 1934, as amended, and comply with other applicable securities laws, rules and regulations.

~~ITEM~~Existing 5or probable governmental regulations have not impacted AS-IP’s operations except for the increased costs of compliance with reporting obligations. ~~MARKET~~These ~~FOR~~additional ~~COMMON~~costs ~~EQUITY~~remain ~~AND~~consistent ~~RELATED~~as ~~STOCKHOLDERS~~long ~~MATTERS~~as the company continues as a reporting corporation.

~~The~~(10) ~~Company~~Estimate ~~has authorized capital~~ of ~~500,000,000~~the ~~shares~~amount ofspent ~~Common~~during ~~Stock,~~each ~~$0.0001 par value, and 50,000,000 shares~~ of ~~preferred~~the ~~stock,~~last ~~$0.0001~~two ~~par~~fiscal ~~value.~~years ~~All~~on ~~shares~~research ofand ~~Common~~development ~~Stock have equal voting rights~~activities, ~~are non-assessable,~~ and ~~have~~if ~~one~~applicable ~~vote~~the ~~per~~extent ~~share.~~to Aswhich of the ~~date~~cost ~~hereof, the Company has 255,149,894 shares~~ of ~~Common~~such ~~Stock~~activities ~~issued~~is ~~and~~borne ~~outstanding~~directly ~~and~~by ~~no shares of Preferred Stock outstanding.~~customers;

~~Since~~The ~~March 2000, the~~ Company’s ~~Common~~estimates ~~Stock~~over ~~has~~the ~~been~~last ~~quoted~~2 onyears, ~~the~~it ~~NASD~~has ~~OTC~~expended ~~Bulletin~~in ~~Board~~excess ~~and~~of ~~more recently~~$500,000 ~~the~~on ~~OTCPK.~~research ~~Prior~~and ~~to that date~~development, ~~there~~none ~~was no public market for the Company’s securities. The following table sets out the range~~ of ~~the~~which ~~high~~has ~~and~~been ~~low~~borne ~~sales~~by ~~prices for~~ the ~~Company’s securities~~customers.

	Common Stock
Quarter Ended	High	Low
June 30, 2019	$0.023	$0.012
September 30, 2019	$0.029	$0.012
December 31, 2019	$0.035	$0.012
March 31, 2020	$0.034	$0.012
June 30, 2020	$0.019	$0.012
September 30, 2020	$0.012	$0.10
December 31, 2020	$0.10	$0.052
March 31, 2021	$0.23	$0.076
June 30, 2021	$0.249	$0.143

(11) Costs and effects of compliance with environmental laws (federal, state and local); and

~~The~~Not Company currently intends to retain substantially all of its earnings, if any, to support the development of its business and has no present intention of paying any dividends on its Common Stock in the foreseeable future. Any future determination as to the payment of dividends will be at the discretion of the Board, and will depend on the Company’s financial condition, results of operations and capital requirements, and such other factors as the Board deems relevant.applicable

~~ITEM~~(12) 6.Number ~~SELECTED~~of ~~FINANCIAL~~total ~~DATA~~employees and number of full time employees.

~~Not required for a smaller reporting company.~~5

~~ITEM~~The 7.company ~~MANAGEMENT’S~~does ~~DISCUSSION~~not ~~AND~~have ~~ANALYSIS~~any ORemployees, ~~PLAN~~instead OFcontracts ~~OPERATION~~the Chief Financial Officer, as well as contracting marketing and technical services as required.

~~OVERVIEW~~ITEM 2. DESCRIPTION OF PROPERTY.

The Company maintains aits ~~low-cost~~corporate ~~structure~~administration asoffice itat ~~has~~1/15 noCastles ~~employees~~Drive, ~~contracting~~Torquay, ~~the services of executives and support as required. Because of the low-cost structure~~Victoria, ~~the Company anticipates that the proceeds from stock issues and revenue from service and system sales~~3228, ~~will be sufficient to meet the Company’s operating and capital requirements for approximately 12 months~~Australia.

~~RESULTS~~ITEM ~~AND~~3. ~~PLAN~~LEGAL ~~OF OPERATIONS~~PROCEEDINGS.

The Company ~~had~~is ~~accumulated~~not ~~losses~~a ~~from~~party ~~inception~~ to ~~June~~any ~~30,~~litigation ~~2021 of $14,195,118. Major components of the loss include capital raising costs, consulting~~ and management ~~fees,~~has ~~engineering~~no ~~fees~~knowledge ~~and~~of ~~operations~~any ~~costs.~~threatened ~~The~~or ~~Company~~pending ~~may~~litigation beagainst ~~required to make significant additional expenditures in connection with~~ the ~~development of the BizjetMobile and fflya programs. The~~ Company~~’s ability to continue its operations is dependent upon its receiving funds through its anticipated sources of financing including capital raisings, borrowings and revenues from operations~~.

~~YEAR~~ITEM ~~ENDED~~4. ~~JUNE~~SUBMISSION ~~30,~~OF ~~2021~~MATTERS ~~COMPARED~~TO ~~WITH~~A ~~YEAR~~VOTE ~~ENDED~~OF ~~JUNE~~SECURITY ~~30, 2020~~HOLDERS.

InNot ~~the 2021 financial year, the Company’s programs were severely impacted by the Covid19 pandemic with virtually every business jet customer program grounded~~applicable. To ensure the ongoing viability of the Company and to continue the refinement and implementation of the fflya airline program, all payments to executives and associated engineering and support services were reduced by 50%, on the basis that they would be back

toPART ~~normal by May 2021~~II. While Covid19 has still had an operational impact, business jet system sales have recovered, although the service revenue remains sluggish. On the airline front, the first airlines installation was completed on Wizz Air in February 2021.

~~The~~ITEM ~~Company received revenue of $73,837 from its BizjetMobile business in the year ended June 30, 2021, compared to $36,205 in the year ended June 30, 2020~~5. ~~Revenue~~MARKET ~~from~~FOR ~~BizjetMobile~~COMMON ~~service~~EQUITY ~~fees~~AND ~~decreased~~RELATED ~~from~~STOCKHOLDERS ~~$19,387 to $11,964 and BizjetMobile system sales increased from $16,818 to $61,873 in the years ended June 30, 2020 and June 30, 2021 respectively~~MATTERS. ~~The Company has been able to achieve increased system sales with the introduction of an ultra low cost system in Q3 2020.~~

~~Operating~~The ~~expenses~~Company ~~increased~~has ~~from~~authorized ~~$653~~capital of 500,~~841~~000,000 ~~for~~shares ~~the~~of ~~twelve-month~~Common ~~period~~Stock, ~~ended~~$0.0001 ~~June~~par 30value, ~~2020~~and to50,000,000 shares of preferred stock, $~~733~~0.0001 par value. All shares of Common Stock have equal voting rights,~~962~~ ~~for~~are non-assessable, and have one vote per share. As of the ~~twelve~~date ~~month~~hereof, ~~period~~the ~~ended~~Company ~~June~~has 30278,697,573 ~~2021~~shares ~~due~~of ~~mainly~~Common toStock ~~increased~~issued ~~marketing~~and ~~costs~~outstanding and no shares of Preferred Stock outstanding.

~~The~~Since ~~Company~~March ~~recorded~~2000, athe ~~net~~Company’s ~~loss~~Common ~~from~~Stock ~~operations~~has ~~for~~been ~~the~~quoted ~~twelve~~on ~~month~~the ~~period~~NASD ~~ended~~OTC ~~June~~Bulletin ~~30,~~Board ~~2021~~and ofmore ~~$660~~recently,~~125,~~ ~~compared~~the toOTCPK. aPrior ~~loss~~to ofthat ~~$617~~date,~~636~~ there was no public market for the ~~twelve~~Company’s ~~month~~securities. ~~period~~The ~~ended~~following ~~June~~table ~~30,~~sets ~~2020~~out the range of the high and low sales prices for the Company’s securities.

Other expenses increased from $147,548 in the year ended June 30, 2020, to $710,703 in the year ended June 30, 2021, due to higher interest costs, loss on the issuance of shares for settlement of liabilities and amortization of beneficial conversion feature.

	Common Stock
Quarter Ended	High	Low
June 30, 2020	$0.02	$0.01
September 30, 2020	$0.01	$0.10
December 31, 2020	$0.10	$0.05
March 31, 2021	$0.23	$0.08
June 30, 2021	$0.25	$0.14
September 30, 2021	$0.22	$0.07
December 31, 2021	$0.28	$0.08
March 31, 2022	$0.19	$0.08
June 30, 2022	$0.15	$0.06

The Company ~~recorded~~currently aintends ~~net~~to ~~loss~~retain ~~for~~substantially all of its earnings, if any, to support the ~~twelve~~development ~~month~~of ~~period~~its ~~ended~~business ~~June~~and ~~30,~~has ~~2021~~no present intention of ~~$1,370,828,~~paying ~~compared~~any dividends on its Common Stock in the foreseeable future. Any future determination as to athe ~~loss~~payment of ~~$765~~dividends will be at the discretion of the Board,~~184~~ ~~for~~and will depend on the ~~twelve~~Company’s ~~month~~financial ~~period~~condition, ~~ended~~results ~~June~~of 30operations and capital requirements, ~~2020~~and such other factors as the Board deems relevant.

~~LIQUIDITY~~ITEM ~~AND~~6. ~~CAPITAL~~SELECTED ~~RESOURCES~~FINANCIAL DATA.

~~The~~Not ~~Company’s~~required ~~cash~~for ~~and~~a ~~cash~~smaller ~~equivalents~~reporting ~~cash equivalents increased from $8,958 at June 30, 2020 to $157,601 at June 30, 2021~~company.

~~The~~ITEM ~~Company’s revenue for the twelve months ended June 30, 2021 was $73,837, compared to $36,205 in the twelve month period to June 30, 2020~~7. ~~Operating~~MANAGEMENT’S ~~costs~~DISCUSSION ~~increased~~AND ~~for~~ANALYSIS ~~the~~OR ~~period~~PLAN ~~from~~OF ~~July 1, 2020 to June 30, 2021 mainly as a result increased marketing costs~~OPERATION. After loss on issuance of shares, amortization of beneficial conversion feature, issue of shares for interest, increased related party payables and issuance of common stock for related party payables, the Company had a net cash outflow of $417,053 from operating activities for the period from July 1, 2020 to June 30, 2021, compared to a net cash outflow from operating activities of $332,533 for the period from July 1, 2019 to June 30, 2020.

~~The Company had no cash flow from investing activities for the twelve months ended June 30, 2021, and June 30, 2020 respectively.~~OVERVIEW

The ~~cash flow of the~~ Company’s ~~from~~corporate ~~financing~~structure ~~activities~~is ~~for~~designed ~~the~~to ~~twelve~~facilitate ~~months~~investment ~~ending~~in ~~June~~owning ~~30,~~aircraft ~~2021~~systems ~~was~~and ~~from~~ the ~~issue~~IP, ofwith ~~common stock and proceeds from loans. In~~ the ~~twelve~~primary ~~months~~purpose ~~ended~~of ~~June~~controlling ~~30,~~service ~~2020,~~cash ~~financing~~flow ~~activities~~and ~~was~~dictating ~~from~~revenue ~~subscription~~share ~~for~~in ~~common~~the ~~stock~~airline contracts.

The Company’s ~~business~~maintains ~~plan~~a islow-cost ~~based~~structure ~~on developing the BizjetMobile business~~ as ~~well~~it ashas ~~expansion~~no ~~into~~employees, ~~the~~contracting ~~airline business with its fflya program. This plan may require significant capital from~~ the ~~Company~~services ~~for~~of ~~marketing~~executives and ~~technical~~support ~~and~~as ~~product support~~required. ~~The~~Because ~~Company~~of ~~may~~the ~~not~~low-cost ~~have~~structure, ~~sufficient~~the ~~funds to finance its operations in which case it will have to seek additional capital. The~~ Company ~~may~~anticipates ~~raise~~that ~~additional capital by~~ the ~~sale~~proceeds offrom ~~its~~stock ~~equity~~issues ~~securities,~~and ~~through~~revenue anfrom ~~offering~~service ofand ~~debt~~system ~~securities~~sales, orwill ~~from~~be ~~borrowings.~~sufficient ~~The~~to ~~Company~~meet ~~does not have a policy on~~ the ~~amount~~Company’s ofoperating ~~borrowing~~and orcapital ~~debt~~requirements ~~that~~for ~~the~~approximately ~~Company~~12 ~~can incur~~months.

~~The~~RESULTS ~~Company~~AND ~~has~~PLAN noOF ~~commitment for capital expenditure in the near future.~~OPERATIONS

~~OUTLOOK~~The Company had accumulated losses from inception to June 30, 2022 of $16,351,745. Major components of the loss include capital raising costs, consulting and management fees, engineering fees and operations costs. The Company may be required to make significant additional expenditures in connection with the development of the BizjetMobile and fflya programs. The Company’s ability to continue its operations is dependent upon its receiving funds through its anticipated sources of financing including capital raisings, borrowings and revenues from operations.

~~The following are forward looking statements and should be read in conjunction with the Forward Looking Statement in Part I. of this Form 10-K.~~7

~~The~~YEAR ~~Company’s~~ENDED ~~current~~JUNE ~~revenue~~30, ~~was~~2022 ~~from~~COMPARED ~~service~~WITH ~~fees~~YEAR ~~and~~ENDED ~~system~~JUNE ~~sales generated by BizjetMobile. Revenue was based on hardware sales of the Bluetooth systems~~30, ~~plus on-going revenue from monthly~~ 2021

8In the 2022 financial year, the Company’s programs were still impacted by the Covid19 pandemic.

~~service~~The ~~charges~~Company ~~for~~received ~~the~~no ~~provision~~revenue offrom ~~connectivity.~~its ~~The~~BizjetMobile ~~Company~~business ~~then~~in ~~contracted~~the ~~ASiQ~~year toended ~~supply~~June ~~and~~30, ~~support~~2022, ~~the~~compared ~~Bizjet~~to ~~program.~~BizjetMobile ~~Covid~~service ~~damaged~~fees ~~the~~of ~~Bizjet~~$11,964 ~~market~~and ~~grounding~~BizjetMobile ~~all~~system ~~aircraft~~sales $61,873, ~~and~~a ~~the~~total ~~impact~~of ~~on ASiQ~~$73,837 in the ~~Company’s~~year ~~industrial~~ended ~~partner~~June ~~was~~30, ~~severe~~2021.

InBusiness ~~order~~jet tosystem ~~retain~~sales ~~the~~are ~~services~~now ofrecovering, ~~Ron Chapman~~ and ~~ASiQ and continue to support the Companies fflya program. Effective October 1st, 2021, the company’s~~ revenue ~~on BizjetMobile~~ will bebegin in the ~~form~~second half of ~~commissions~~2022 ~~only from ASiQ,~~ on aBizjetMobile ~~case-by-case basis. This informal arrangement will be reviewed~~ in ~~December~~early ~~2021~~2023 ~~when~~on ~~ASiQ’s~~fflya, ~~position~~once ~~and~~the ~~Covid~~initial fleet is ~~much clearer~~equipped.

~~ASiQ~~Operating ~~provides~~expenses ~~the~~increased ~~airline~~from ~~facilities~~$733,962 ~~systems~~for ~~and~~the ~~support~~twelve-month ~~services~~period ~~funded~~ended asJune ~~required~~30, on2021 ato ~~nominal~~$1,280,966 ~~month~~for bythe twelve month ~~basis~~period byended ~~the~~June ~~Company~~30, 2022 due to increased marketing, engineering and technical support costs and two years of unpaid directors fees.

The Company’s ~~primary~~recorded ~~focus~~a ~~over~~net loss from operations for the ~~past~~twelve-month 12period ~~months~~ended ~~has~~June ~~been~~30, ~~development~~2022 of ~~fflya~~$1,280,966, compared to ~~support~~a ~~its~~loss ~~Wizz~~of ~~Air~~$660,125 ~~program~~for the twelve-month period ended June 30, 2021.

~~The~~Other ~~company’s~~expenses ~~fflya~~increased ~~business~~from ~~model~~$710,703 isin ~~based~~the onyear ~~offering~~ended ~~free~~June ~~messaging~~30, 2021, to ~~be paid for by general and destination specific advertising. In the post Covid environment~~$875,661 in ~~which~~the ~~airlines~~year ~~are~~ended ~~relying~~June ~~more~~30, ~~on their Apps for boarding passes and other flight information~~2022, ~~passengers~~due ~~on customer airlines will be able~~ to ~~access~~higher ~~the~~interest ~~fflya~~costs ~~system for messaging as well as bookings for tours~~ and ~~attractions.~~loss ~~Under the fflya program, an airline will receive the system~~ on ~~a revenue share basis on terms to be agreed. As~~ the ~~equipment~~issuance ~~cost~~of isshares afor ~~fraction~~settlement of aliabilities ~~Wi-Fi~~but ~~platform,~~without ~~the~~a ~~Company~~charge ~~needs~~for ~~minimal~~amortization ~~commissions to justify the cost~~ of ~~the~~beneficial ~~hardware.~~conversion ~~The Company believes LCA’s will be attracted to this business model~~feature.

~~REVENUE~~The ~~RECOGNITION~~Company recorded a net loss for the twelve-month period ended June 30, 2022 of $2,156,627, compared to a loss of $1,370,828 for the twelve-month period ended June 30, 2021.

~~The~~LIQUIDITY ~~Company~~AND ~~recognizes~~CAPITAL revenue from the sales of goods and services under ASC 606 by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. .Revenue is recognised on the basis of net proceeds received from the Company’s representatives, after commissions are deducted.RESOURCES

~~GOING~~The ~~CONCERN~~Company’s cash and cash equivalents cash equivalents decreased from $157,601 at June 30, 2021 to $108,098 at June 30, 2022.

The ~~financial~~Company’s ~~statements~~revenue ~~appearing~~for ~~elsewhere~~the intwelve ~~this~~months ~~report~~ended ~~have~~June ~~been~~30, ~~prepared~~2021 ~~assuming~~was ~~that~~$0, compared to $73,837 in the ~~Company~~twelve ~~will~~month ~~continue~~period asto aJune ~~going~~30, ~~concern~~2021. AsOperating ~~such,~~costs ~~they~~increased dofor ~~not~~the ~~include~~period ~~adjustments~~from ~~relating~~July to1, ~~the~~2021 ~~recoverability~~to ofJune ~~recorded~~30, ~~asset~~2022 ~~amounts~~mainly ~~and~~as ~~classification~~a ofresult ~~recorded~~increased ~~assets~~marketing and ~~liabilities.~~engineering ~~The~~costs ~~accompanying~~and ~~financial~~directors ~~statements~~fees. ~~have~~After ~~been~~loss ~~prepared~~on ~~assuming~~issuance ~~that~~of ~~the~~shares ~~Company~~on ~~will~~settlement ~~continue~~of asliabilities, aincreased ~~going~~related ~~concern.~~party ~~The~~payables ~~Company~~and ~~has~~issuance ~~suffered~~of ~~recurring~~shares ~~losses~~for ~~from~~related ~~operations~~party ~~that~~payables, ~~raise~~the ~~substantial~~Company ~~doubt~~had ~~about~~a ~~its~~net ~~ability~~cash tooutflow ~~continue~~of as$1,119,622 afrom ~~going~~operating ~~concern.~~activities ~~Management’s~~for ~~plans~~the inperiod ~~regard~~from toJuly ~~these~~1, ~~matters~~2021 ~~are~~to ~~described~~June in30, ~~Note~~2022, 1compared to ~~the~~a ~~financial~~net ~~statements.~~cash ~~The~~outflow ~~financial~~from ~~statements~~operating doactivities ~~not~~of ~~include~~$417,053 ~~any~~for ~~adjustments~~the ~~that~~period ~~might~~from ~~result~~July ~~from~~1, ~~the~~2020 ~~outcome~~to ofJune ~~this~~30, ~~uncertainty~~2021.

The Company’s ~~ability~~had tono ~~continue~~cash ~~its~~flow ~~operations~~from isinvesting ~~dependent~~activities ~~upon~~for ~~its raising of capital through debt or equity financing in order to meet its working needs. These conditions raise substantial doubt about~~ the ~~Company’s~~twelve ~~ability~~months toended ~~continue~~June as30, ~~a going concern~~2022, and ifJune ~~substantial additional funding is not acquired or alternative sources developed~~30, ~~management~~2021 ~~will be required to curtail its operations~~respectively.

The ~~Company~~cash ~~may~~flow ~~raise~~of ~~additional capital by~~ the ~~sale~~Company offrom ~~its~~financing ~~equity~~activities ~~securities,~~for ~~through~~the antwelve ~~offering~~months ofending ~~debt~~June ~~securities~~30, or2022 ~~from~~was ~~borrowing~~ from athe ~~financial~~issue ~~institution.~~of ~~The~~common ~~Company~~stock ~~does~~and ~~not~~shares ~~have~~issued ain ~~policy~~lieu ~~on the amount~~ of ~~borrowing~~interest. orIn ~~debt that~~ the ~~Company~~twelve ~~can~~months ~~incur.~~ended ~~Management~~June ~~believes~~30, ~~that~~2021, ~~actions~~financing ~~presently~~activities ~~being~~was ~~taken~~from toissue ~~obtain~~of ~~additional~~common ~~funding~~stock ~~provide~~and ~~the~~proceeds ~~opportunity~~from ~~for the Company to continue as a going concern~~loans.

~~ITEM~~The 7ACompany’s business plan is focused on expansion into the airline business with its fflya program. ~~QUANTITATIVE~~This ~~AND~~plan ~~QUALITATIVE~~may ~~DISCLOSURES~~require ~~ABOUT~~significant ~~MARKET~~capital ~~RISK~~from the Company for marketing and technical and product support. The Company may not have sufficient funds to finance its operations in which case it will have to seek additional capital. The Company may raise additional capital by the sale of its equity securities, through an offering of debt securities, or from borrowings. The Company does not have a policy on the amount of borrowing or debt that the Company can incur.

~~Not~~The ~~required~~Company has no commitment for acapital ~~smaller~~expenditure ~~reporting~~in ~~company~~the near future.

9OUTLOOK

~~ITEM~~The 8.following ~~FINANCIAL~~are ~~STATEMENTS~~forward ~~AND~~looking ~~SUPPLEMENTARY~~statements ~~DATA~~and should be read in conjunction with the Forward Looking Statement in Part I. of this Form 10-K.

~~AS-IP TECH, INC.~~8

~~FINANCIAL~~The ~~STATEMENTS~~Company previously contracted ASiQ to supply and support the Bizjet program. Covid impacted the Bizjet market grounding all aircraft, and also ASiQ, the Company’s industrial partner.

~~TABLE~~In OForder ~~CONTENTS~~to retain the services of Ron Chapman and ASiQ and continue to support the Companies fflya program. Effective July 1st 2022, the Company is renegotiating the agreement with ASiQ in regard to the programs.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	F-1
FINANCIAL STATEMENTS
Balance sheets	F-3
Statements of operations	F-4
Statements of stockholders’ deficit	F-5
Statements of cash flows	F-6
Notes to financial statements	F-7

ASiQ provides the airline facilities, systems and support services funded as required on a nominal month by month basis by the Company.

10The Company’s primary focus over the past 12 months has been development of fflya to support its Wizz Air program.

~~REPORT~~The OFcompany’s ~~INDEPENDENT~~fflya ~~REGISTERED~~business ~~PUBLIC~~model ~~ACCOUNTING~~is ~~FIRM~~based on offering free messaging to be paid for by general and destination specific advertising and E-commerce. Under the fflya program, an airline will receive the system on a revenue share basis on terms to be agreed. As the equipment cost is a fraction of a Wi-Fi platform, the Company needs minimal commissions to justify the cost of the hardware. The Company believes LCA’s will be attracted to this business model.

ToREVENUE ~~the shareholders and the board of directors of AS-IP Tech, Inc.~~RECOGNITION

~~Opinion~~The Company recognizes revenue from the sales of goods and services under ASC 606 by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to each performance obligation in the contract; and (5) recognize revenue when each performance obligation is satisfied. .Revenue is recognised on the ~~Financial~~basis ~~Statements~~of net proceeds received from the Company’s representatives, after commissions are deducted.

WeGOING have audited the accompanying balance sheets of AS-IP Tech, Inc. (the “Company”) as of June 30, 2021 and 2020, and the related statements of operations, stockholders’ deficit, and cash flows for each of the two years in the period ended June 30, 2021, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2021 and 2020, and the results of its operations and its cash flows for each of the two years in the period ended June 30, 2021, in conformity with accounting principles generally accepted in the United States of America.CONCERN

~~Going~~The financial statements appearing elsewhere in this report have been prepared assuming that the Company will continue as a going concern. As such, they do not include adjustments relating to the recoverability of recorded asset amounts and classification of recorded assets and liabilities. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has suffered recurring losses from operations that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are described in Note 1 to the financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The ~~accompanying~~Company’s ~~financial~~ability ~~statements~~to ~~have~~continue ~~been~~its ~~prepared~~operations ~~assuming~~is ~~that~~dependent ~~the~~upon ~~Company~~its ~~will~~raising ~~continue~~of ascapital athrough ~~going~~debt ~~concern.~~or Asequity ~~discussed~~financing in ~~Note~~order 1 to ~~the~~meet ~~financial~~its ~~statements,~~working ~~the~~needs. ~~Company~~These ~~has~~conditions ~~suffered recurring losses from operations and has an accumulated deficit that~~ raise substantial doubt about ~~its~~the Company’s ability to continue as a going concern., ~~Management’s~~and ~~plans~~if insubstantial ~~regard~~additional tofunding ~~these~~is ~~matters are also described in Note 1. The financial statements do~~ not ~~include~~acquired ~~any~~or ~~adjustments~~alternative ~~that~~sources ~~might~~developed, ~~result~~management ~~from~~will ~~the~~be ~~outcome~~required ofto ~~this~~curtail ~~uncertainty~~its operations.

~~Basis~~The Company may raise additional capital by the sale of its equity securities, through an offering of debt securities, or from borrowing from a financial institution. The Company does not have a policy on the amount of borrowing or debt that the Company can incur. Management believes that actions presently being taken to obtain additional funding provide the opportunity for ~~Opinion~~the Company to continue as a going concern.

~~These~~ITEM ~~financial statements are the responsibility of the Company’s management~~7A. ~~Our~~QUANTITATIVE ~~responsibility~~AND isQUALITATIVE toDISCLOSURES ~~express~~ABOUT anMARKET ~~opinion on the Company’s financial statements based on our audits~~RISK. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

WeNot conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for ~~the~~a ~~purpose~~smaller ~~of expressing an opinion on the effectiveness of the Company’s internal control over financial~~ reporting. ~~Accordingly, we express no such opinion~~company.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.9

~~Emphasis~~ITEM of8. aFINANCIAL ~~Matter~~STATEMENTS AND SUPPLEMENTARY DATA.

~~The~~AS-IP ~~Company has significant transactions and account balances with related parties~~TECH, ~~which are described in Note 2 to the financial statements~~INC. ~~Transactions involving related parties cannot be presumed to be carried out on an arm’s length basis, as the requisite conditions of competitive, free market dealings may not exist.~~

~~F-1~~FINANCIAL STATEMENTS

~~Critical~~TABLE ~~Audit~~OF ~~Matter~~CONTENTS

The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM	F-1

FINANCIAL STATEMENTS
Balance sheets	F-3
Statements of operations	F-4
Statements of stockholders’ deficit	F-5
Statements of cash flows	F-6
Notes to financial statements	F-7

~~Modification or extinguishment of debt~~10

AsREPORT ~~described~~OF inINDEPENDENT ~~Note~~REGISTERED 6PUBLIC toACCOUNTING the financial statements, the Company negotiated with the creditors to extend or modify the term, including settlement part of related-parties’ accounts payable balances and shareholder loans with convertible notes, and modification of interest rates or extension of the maturity dates.FIRM

~~Auditing~~To the ~~accounting~~shareholders ~~treatment~~and ~~for~~the ~~modification~~board ~~or extinguishment~~ of ~~debts~~directors ~~involved complex evaluation to the change in fair value~~ of ~~the~~AS-IP ~~modification~~Tech, ~~to the accounting for gain or loss to the extinguishment, and to any additional beneficial conversion feature for the convertible notes to be recognized~~Inc.

WeOpinion ~~obtained~~on the ~~management~~Financial ~~evaluation for each type of accounting treatments and examined the related contracts . Our audit procedures included, but were not limited to, the following procedures:~~Statements

~~·Understanding~~We have audited the ~~Company~~accompanying balance sheets of AS-IP Tech, Inc. as of June 30, 2022 and 2021, the related statements of operations, stockholders’s ~~internal~~equity ~~control~~(deficit), ~~over~~and ~~financial~~cash ~~reporting~~flows for the ~~modification~~years then ended, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of ~~these~~the ~~agreements;~~ Company as of June 30, 2022 and 2021, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States.

~~·Examining~~Substantial Doubt about the ~~related~~Company’s ~~original~~Ability ~~and~~to ~~amended~~Continue ~~agreements;~~ as a Going Concern

~~·Reviewing~~The accompanying financial statements have been prepared assuming that the ~~appropriateness~~Company ofwill continue as a going concern. As discussed in Note 1 to the ~~inputs~~financial statements, the Company has suffered recurring losses from operations and ~~calculation~~has ofa ~~discounted~~significant ~~future~~accumulated deficit. In addition, the Company continues to experience negative cash flows infrom ~~determining~~operations. These factors raise substantial doubt about the ~~fair~~Company’s ~~value~~ability ofto continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the ~~notes~~ outcome of this uncertainty.

~~·Recalculating~~Basis ~~the~~for ~~beneficial conversion feature and reviewing its accounting treatments;~~ Opinion

~~·Assessing~~These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s ~~conclusion~~financial ~~for~~statements ~~modification~~based oron ~~extinguishment~~our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

~~·Evaluating~~We conducted our audit in accordance with the ~~appropriateness~~standards of the PCAOB. Those standards require that we plan and ~~sufficiency~~perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial ~~statement~~reporting. ~~presentation~~Accordingly, ~~and~~we ~~disclosures~~express no such opinion.

~~/s/~~Our Baudit Fincluded ~~Borgers~~performing ~~CPA~~procedures PCto assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

WeCritical ~~have~~Audit ~~served as the Company’s auditor since 2013.~~Matter

~~Lakewood~~Critical audit matters are matters arising from the current-period audit of the financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, ~~Colorado~~subjective, or complex judgments.

~~October~~We 6,determined ~~2021~~that there are no critical audit matters.

~~F-2~~/S/ BF Borgers CPA PC

~~AS-IP~~BF ~~TECH,~~Borgers ~~INC.~~CPA PC (PCAOB ID: 5041)

~~BALANCE~~We ~~SHEETS~~have served as the Company’s auditor since 2013

	June 30,
	2021		2020
ASSETS
Current Assets
Cash	$	157,601	$	8,958
Total current assets		157,601		8,958
Intangible assets - related party, net of accumulated amortization for $336,168 as of June 30, 2021 and $322,431 as of June 30, 2020		-		13,737
Total assets	$	157,601	$	22,695
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts payable and accrued expenses	$	4,859	$	179,267
Related party payables		536,075		826,716
Loans		84,146		711,043
Due to related parties		228,811		228,811
Deferred revenue		-		1,892
Subscription for capital		-		361,646
Total current liabilities		853,891		2,309,375
Non-Current Liabilities
Convertible notes, net of discount		521,472		-
Convertible notes, related parties, net of discount		99,484		-
Total non-current liabilities		620,956		-
Total liabilities		1,474,847		2,309,375
Commitment and contingencies (Note 3)
Stockholders’ Deficit
Preferred stock $0.0001 par value; 50,000,000 shares authorized; none issued and outstanding		-		-
Common stock, $0.0001 par value, 500,000,000 authorized, and 255,149,894 and 182,112,766 were issued and outstanding as of June 30, 2021 and 2020, respectively		25,515		18,213
Additional paid-in capital		12,852,362		10,493,216
Subscriptions payable		-		26,186
Treasury stock - par value (50,000 shares)		(5)		(5)
Accumulated deficit		(14,195,118)		(12,824,290)
Total stockholders’ deficit		(1,317,246)		(2,286,680)
Total liabilities and stockholders’ deficit	$	157,601	$	22,695

Lakewood, CO

~~See~~October ~~Accompanying~~12, ~~Notes to Financial Statements.~~2022

F-31

AS-IP TECH, INC.

~~STATEMENTS~~BALANCE ~~OF OPERATIONS~~SHEETS

	For the year ended June 30, 2021		For the year ended June 30, 2020
	June 30,
Revenue
	2022		2021
BizjetMobile system sales - related parties	$	61,873	$	16,818
ASSETS
BizjetMobile service fees - related parties		11,964		19,387
Current Assets
Total revenue	$	73,837	$	36,205
Cash	$	108,098	$	157,601
Operating expenses
Prepaid expenses		25,000		-
Selling, general and administrative expenses		214,688		171,591
Total current assets		133,098		157,601
Marketing fees and expenses - related party		331,000		216,065
Total assets	$	133,098	$	157,601
Engineering services - related party		106,863		161,210
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Amortization of capitalized termination fee to a related party		13,737		41,216
Current Liabilities
Freight - related party		-		1,085
Accounts payable and accrued expenses	$	5,723	$	4,859
Communications and data - related party		2,707		13,618
Related party payables		484,938		536,075
Components - related party		1,974		-
Loans		77,727		84,146
Office expenses - related party		-		1,056
Due to related parties		228,811		228,811
Technical service support - related party		62,993		48,000
Subscription for capital		1,196		-
Total operating expenses		733,962		653,841
Total current liabilities		798,395		853,891
Loss from operations		(660,125)		(617,636)
Non-Current Liabilities
Other expense
Convertible notes, net of discount		918,959		521,472
Interest		220,710		131,154
Convertible notes, related parties, net of discount		587,500		99,484
Interest - related party		51,708		16,394
Total non-current liabilities		1,506,459		620,956
Loss on settlement of liabilities		304,520		-
Total liabilities		2,304,854		1,474,847
Amortization of beneficial conversion feature		133,765		-
Commitment and contingencies (Note 3)
Total other expense		710,703		147,548
Stockholders’ Deficit
Net loss	$	(1,370,828)	$	(765,184)
Preferred stock $0.0001 par value; 50,000,000 shares authorized; none issued and outstanding		-		-
Net loss per share - (basic and diluted)	$	(0.01)	$	(0.00)
Common stock, $0.0001 par value, 500,000,000 authorized, and 278,697,573 and 255,149,894 were issued and outstanding as of June 30, 2022 and 2021, respectively		27,870		25,515
Weighted average number of common shares outstanding - (basic and diluted)		227,804,417		182,112,766
Additional paid-in capital		14,152,124		12,852,362
Treasury stock - par value (50,000 shares)		(5)		(5)
Accumulated deficit		(16,351,745)		(14,195,118)
Total stockholders’ deficit		(2,171,756)		(1,317,246)
Total liabilities and stockholders’ deficit	$	133,098	$	157,601

See Accompanying Notes to Financial Statements.

F-42

AS-IP TECH, INC.

STATEMENTS OF ~~STOCKHOLDERS’ DEFICIT~~OPERATIONS

	Common Stock
	For the year ended June 30, 2022			For the year ended June 30, 2021
	Shares	Amount	Paid-In Capital	Subscriptions Payable	Treasury Stock	Accumulated Deficit	Stockholders’ Equity
Revenue
		($)	($)	($)	($)	($)	($)
BizjetMobile system sales - related parties	$	-		$	61,873
June 30, 2019	182,112,766	18,211	10,493,218	26,186	(5)	(12,059,106)	(1,521,496)
BizjetMobile service fees - related parties		-			11,964
Net loss for the year ended	-	-	-	-	-	(765,184)	(765,184)
Total revenue	$	-		$	73,837
June 30, 2020	182,112,766	18,211	10,493,218	26,186	(5)	(12,824,290)	(2,286,680)
Operating expenses
Issuance of stock for cash	53,677,399	5,368	597,084	-	-	-	602,452
Selling, general and administrative expenses		657,263			214,688
Issue of shares for interest	2,625,122	263	419,571	-	-	-	419,834
Marketing fees and expenses - related party		260,069			331,000
Issuance of stock for services	11,545,994	1,155	115,561	-	-	-	116,716
Engineering services - related party		176,887			106,863
Issuance of shares for debt to related parties	2,766,224	276	51,289	-	-	-	51,565
Amortization of capitalized termination fee to a related party		-			13,737
Issuance of shares for subscriptions payable	1,422,389	142	26,044	(26,186)	-	-	-
Communications and data - related party		2,394			2,707
Issuance of shares in lieu of directors fees	1,000,000	100	12,200	-	-	-	12,300
Components - related party		20,000			1,974
Beneficial conversion feature on convertible notes	-	-	1,137,395	-	-	-	1,137,395
Technical service support - related party		154,000			62,993
Net loss for the year ended	-	-				(1,370,828)	(1,370,828)
Trade shows - related party		10,353			-
June 30, 2021	255,149,894	25,515	12,852,362	-	(5)	(14,195,118)	(1,317,246)
Total operating expenses		1,280,966			733,962
Loss from operations		(1,280,966)			(660,125)
Other expense
Interest		280,340			220,710
Interest - related party		86,771			51,708
Loss on settlement of liabilities		400,685			304,520
Capital raising fee		107,865			-
Amortization of beneficial conversion feature		-			133,765
Total other expense		875,661			710,703
Net loss	$	(2,156,627)		$	(1,370,828)
Net loss per share - (basic and diluted)	$	(0.01)		$	(0.01)
Weighted average number of common shares outstanding - (basic and diluted)		261,780,893			227,804,417

See Accompanying Notes to Financial Statements.

F-53

AS-IP TECH, INC.

STATEMENTS OF ~~CASH~~STOCKHOLDERS’ ~~FLOWS~~DEFICIT

	For the years Ended June 30,
	Common Stock
	2021			2020
	Shares	Amount	Paid-In Capital	Subscriptions Payable	Treasury Stock	Accumulated Deficit	Stockholders’ Equity
Cash flows from operating activities:
		($)	($)	($)	($)	($)	($)
Net loss	$	(1,370,828)		$	(765,184)
June 30, 2020	182,112,766	18,211	10,493,218	26,186	(5)	(12,059,106)	(1,521,496)
Adjustments to reconcile net loss to net cash used by operating activities:
Issuance of stock for cash	53,677,399	5,368	597,084	-	-	-	602,452
Issuance of common stock for directors fees		12,300			-
Issue of shares for interest	2,625,122	263	419,571	-	-	-	419,834
Issuance of common stock for services		6,716			-
Issuance of stock for services	11,545,994	1,155	115,561	-	-	-	116,716
Issuance of common stock for related party marketing expenses		110,000			-
Issuance of shares for debt to related parties	2,766,224	276	51,289	-	-	-	51,565
Issuance of common stock for interest		134,084			-
Issuance of shares for subscriptions payable	1,422,389	142	26,044	(26,186)	-	-	-
Loss on settlement of liabilities		304,520			-
Issuance of shares in lieu of directors fees	1,000,000	100	12,200	-	-	-	12,300
Amortization of intangibles		13,737			41,216
Beneficial conversion feature on convertible notes	-	-	1,137,395	-	-	-	1,137,395
Amortization of beneficial conversion feature		133,765			-
Net loss for the year ended	-	-				(1,370,828)	(1,370,828)
Changes in operating assets and liabilities
June 30, 2021	255,149,894	25,515	12,852,362	-	(5)	(14,195,118)	(1,317,246)
Increase (Decrease) in accounts payable		405			121,663
Adoption of ASU2020-06	-	-	(1,003,630)	-	-	-	(1,003,630)
Increase (Decrease) in deferred revenue		(1,892)			(6,343)
Issuance of stock for cash	8,668,876	867	866,021	-	-	-	866,888
Increase (Decrease) in related party payables		154,617			264,152
Issue of shares for interest	2,478,537	248	335,854	-	-	-	336,102
Decrease (Increase) in accounts receivable		-			11,963
Issuance of stock for services	1,666,366	166	146,552	-	-	-	146,718
		85,523			-
Issuance of shares for services to related parties	150,000	15	20,985	-	-	-	21,000
Net cash used in operating activities		(417,053)			(332,533)
Issuance of shares from convertible notes	9,155,900	916	661,056	-	-	-	661,972
Cash flows from investing activities:
Issuance of shares in lieu of directors fees	1,428,000	143	199,777	-	-	-	199,920
Net cash used by investing activities		-			-
Beneficial conversion feature on convertible notes	-	-	73,147	-	-	-	73,147
Cash flows from financing activities:
Net loss for the year ended	-	-	-	-	-	(2,156,627)	(2,156,627)
Proceeds from loans		325,000			-
June 30, 2022	278,697,573	27,870	14,152,124	-	(5)	(16,351,745)	(2,171,756)
Payments on loans		-			(5,347)
Proceeds from issuance of common stock		240,696			-
Funds received pending issuance of common stock		-			346,646
Net cash provided by financing activities		565,696			341,299
Net Increase/(Decrease) in cash		148,643			8,766
Cash, beginning of period		8,958			192
Cash, end of period	$	157,601		$	8,958
Supplemental schedule of non-cash activities:
Cash paid for interest	$	-		$	5,564
Stock issued for funds received in prior period	$	361,758		$	-
Related party payables transferred to Loans - related parties	$	375,000		$	-

See Accompanying Notes to Financial Statements.

F-64

AS-IP TECH, INC.

~~NOTES~~STATEMENTS TOOF ~~FINANCIAL~~CASH ~~STATEMENTS~~FLOWS

NOTE 1 - ORGANIZATION, OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

	For the years Ended June 30,
	2022		2021

Cash flows from operating activities:
Net loss	$	(2,156,627)	$	(1,370,828)
Adjustments to reconcile net loss to net cash used by operating activities:
Issuance of common stock for directors fees		199,920		12,300
Issuance of common stock for services		146,718		6,716
Issuance of common stock for related party expenses		21,000		110,000
Issuance of common stock for interest		168,954		134,084
Loss on settlement of liabilities		400,685		304,520
Amortization of intangibles		-		13,737
Amortization of beneficial conversion feature		-		133,765
Changes in operating assets and liabilities
Increase (Decrease) in accounts payable		864		405
Increase (Decrease) in deferred revenue		-		(1,892)
Increase (Decrease) in related party payables		48,864		154,617
Increase (Decrease) in related party accrued interest		75,000		-
Decrease (Increase) in prepaid expenses		(25,000)		-
		-		85,523
Net cash used in operating activities		(1,119,622)		(417,053)

Cash flows from investing activities:
Net cash used by investing activities		-		-

Cash flows from financing activities:
Proceeds from loans		28,586		325,000
Proceeds from issuance of common stock		866,857		240,696
Shares issued in lieu of interest		100,333		-
Funds received pending issuance of common stock		1,196		-
Cost of issue of warrants		73,147		-
Net cash provided by financing activities		1,070,119		565,696

Net Increase/(Decrease) in cash		(49,503)		148,643
Cash, beginning of period		157,601		8,958
Cash, end of period	$	108,098	$	157,601

Supplemental schedule of non-cash activities:
Cash paid for interest	$	-	$	-
Stock issued for funds received in prior period	$	-	$	361,758
Related party payables transferred to Loans - related parties	$	-	$	375,000

~~AS-IP~~See ~~Tech,~~Accompanying ~~Inc.~~Notes ~~(“AS-IP”,~~to ~~the~~Financial ~~“Company”) formerly ASI Entertainment, Inc~~Statements., was incorporated in the State of Delaware on April 29, 1998. The Company owns intellectual property from which two product lines called BizjetMobile and fflya have been developed. The products deliver inflight connectivity for business aviation (BizjetMobile) and commercial airlines (fflya) respectively.

~~Basis of Presentation~~F-5

~~The~~AS-IP ~~financial~~TECH, ~~statements are prepared in accordance with accounting principles generally accepted in the United States of America (GAAP)~~INC. ~~The financial statements are expressed in United States dollars. The Company’s fiscal year ends June 30.~~

~~Going~~NOTES ~~Concern~~TO FINANCIAL STATEMENTS

~~The~~NOTE ~~accompanying~~1 ~~financial~~- ~~statements have been prepared on a going concern basis~~ORGANIZATION, ~~which~~OPERATIONS ~~contemplates~~AND ~~the~~SUMMARY ~~realization~~OF ofSIGNIFICANT ~~assets~~ACCOUNTING and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company has recurring operating losses, limited funds and has accumulated deficits. These factors, among others, raise substantial doubt that the Company will be unable to continue as a going concern.POLICIES:

~~The~~AS-IP ~~Company~~Tech, ~~may~~Inc. ~~raise~~(“AS-IP”, ~~additional capital through~~ the ~~sale~~“Company”) offormerly ~~its~~ASI ~~equity~~Entertainment, ~~securities~~Inc., ~~through~~was anincorporated ~~offering~~in ofthe ~~debt~~State ~~securities,~~of orDelaware ~~through~~on ~~borrowings~~April ~~from~~29, ~~financial institutions~~1998. The Company ~~expects~~owns tointellectual ~~generate~~property ~~revenue~~from inwhich ~~the~~two ~~future~~product ~~from~~lines ~~the~~called BizjetMobile and fflya ~~businesses~~have ~~from~~been ~~the sale of hardware and provision of on-going services~~developed. ~~Management~~The ~~believes~~products ~~that~~deliver ~~actions~~inflight ~~presently~~connectivity ~~being taken to obtain additional funding provide the opportunity~~ for ~~the~~business ~~Company~~aviation to(BizjetMobile) ~~continue~~and ascommercial aairlines ~~going~~(fflya) ~~concern~~respectively.

~~The~~Basis ~~financial statements do not include any adjustments relating to the recoverability and classification~~ of assets and/or liabilities that might be necessary should the Company be unable to continue as a going concern. The continuation as a going concern is dependent upon the ability of the Company to meet our obligations on a timely basis, and, ultimately to attain profitability.Presentation

~~Use~~The financial statements are prepared in accordance with accounting principles generally accepted in the United States of ~~Estimates~~America (GAAP). The financial statements are expressed in United States dollars. The Company’s fiscal year ends June 30.

~~The~~Going preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.Concern

~~Cash~~The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and ~~cash~~the ~~equivalents~~satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company has recurring operating losses, limited funds and has accumulated deficits. These factors, among others, raise substantial doubt that the Company will be unable to continue as a going concern.

The Company ~~considers~~may ~~investments~~raise ~~with~~additional ancapital ~~original~~through ~~maturity~~the sale of ~~three~~its ~~months~~equity securities, through an offering of debt securities, or ~~less~~through borrowings from financial institutions. The Company expects to generate revenue in the future from the BizjetMobile and fflya businesses from the sale of hardware and provision of on-going services. Management believes that actions presently being taken to obtain additional funding provide the opportunity for the Company to continue as ~~cash~~a ~~equivalents~~going concern.

~~Financial~~The ~~instruments~~financial statements do not include any adjustments relating to the recoverability and classification of assets and/or liabilities that might be necessary should the Company be unable to continue as a going concern. The continuation as a going concern is dependent upon the ability of the Company to meet our obligations on a timely basis, and, ultimately to attain profitability.

~~The~~Use ~~Company has adopted the provisions~~ of ASC Topic 820, Fair Value Measurements, which defines fair value, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair value measurements. ASC 820 provides a fair value hierarchy used to classify the source of the information. The fair value hierarchy distinguishes between assumptions based on market data (observable inputs) and an entity’s own assumptions (unobservable inputs). The hierarchy consists of three levels:Estimates

~~F-7~~The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

~~AS-IP~~Cash ~~TECH,~~and ~~INC.~~cash equivalents

~~NOTES~~The TOCompany ~~FINANCIAL~~considers ~~STATEMENTS~~investments with an original maturity of three months or less as cash equivalents.

~~Level~~Financial ~~one - Quoted market prices in active markets for identical assets or liabilities;~~instruments

~~Level~~The ~~two~~Company -has ~~Inputs~~adopted ~~other~~the ~~than~~provisions ~~level~~of ~~one~~ASC ~~inputs~~Topic ~~that~~820, ~~are~~Fair ~~either~~Value ~~directly~~Measurements, orwhich ~~indirectly~~defines fair value, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair value measurements. ASC 820 provides a fair value hierarchy used to classify the source of the information. The fair value hierarchy distinguishes between assumptions based on market data (observable; inputs) and an entity’s own assumptions (unobservable inputs). The hierarchy consists of three levels:

Level ~~three~~one - ~~Unobservable~~Quoted ~~inputs~~market ~~developed~~prices ~~using~~in ~~estimates~~active ~~and~~markets ~~assumptions,~~for ~~which~~identical ~~are~~assets ~~developed~~or ~~by the reporting entity and reflect those assumptions that a market participant would use.~~liabilities;

~~All~~Level oftwo ~~the~~- ~~Company’s~~Inputs ~~financial~~other ~~instruments~~than ~~are~~ level one ~~and~~inputs ~~are carried at fair value, requiring no adjustment to book value. The financial instruments were deemed to qualify as~~ that ~~classification~~are ~~because~~either ~~their~~directly ~~value~~or ~~was~~indirectly ~~determined~~observable; ~~by the price of identical instruments traded on an active exchange.~~and

~~Intangible~~Level ~~Assets~~three - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

~~In accordance with ASC 350, “Intangibles~~ F- Goodwill and Other”, we classify intangible assets into three categories: (1) intangible assets with definite lives subject to amortization; (2) intangible assets with indefinite lives not subject to amortization; and (3) goodwill. For intangible assets with definite lives, tests for impairment must be performed if conditions exist that indicate the carrying value may not be recoverable. For intangible assets with indefinite lives and goodwill, tests for impairment must be performed at least annually or more frequently if events or circumstances indicate that assets might be impaired.6

~~When~~AS-IP ~~facts and circumstances indicate that the carrying value of intangible assets determined to have definite lives may not be recoverable~~TECH, ~~management assesses the recoverability of the carrying value by preparing estimates of future undiscounted cash flows~~INC. If the sum of the expected future cash flows is less than the carrying amount, we recognize an impairment loss. The impairment loss recognized is the amount by which the carrying amount exceeds the fair value which is estimated and calculated by discounted cash flow method. The Company has determined that an impairment charge is not required 2021 and 2020.

~~Income~~NOTES ~~tax~~TO FINANCIAL STATEMENTS

~~The~~All ~~Company~~of ~~accounts~~the ~~for~~Company’s ~~income~~financial ~~taxes~~instruments ~~under FASB ASC 740 “Income Taxes”. Deferred taxes~~ are ~~provided~~level onone aand ~~liability method whereby deferred tax assets~~ are ~~recognized~~carried ~~for~~at ~~deductible~~fair ~~temporary~~value, ~~differences~~requiring ~~and~~no ~~operating~~adjustment ~~loss~~to ~~carryforwards~~book ~~and deferred tax liabilities are recognized for taxable temporary differences~~value. ~~Temporary~~The ~~differences~~financial ~~are~~instruments ~~the~~were ~~differences~~deemed ~~between~~to ~~the~~qualify ~~reported~~as ~~amounts~~that ofclassification ~~assets~~because ~~and liabilities and~~ their ~~tax~~value ~~bases.~~was ~~Deferred~~determined ~~tax assets are reduced~~ by ~~a valuation allowance when, in~~ the ~~opinion~~price of ~~management,~~identical itinstruments istraded ~~more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates~~ on ~~the~~an ~~date~~active ~~of enactment~~exchange.

AtIntangible June 30, 2021 the Company had net operating loss carryforwards of $12,647,002. The deferred tax asset created by the U.S. net operating losses has been offset by a 100% valuation allowance for those with a 20 year life of $2,049,266 in 2021, compared to $2,138,752 in 2020 and 100% allowance for those with an indefinite life of $606,604 in 2021.Assets

~~Share~~In accordance with ASC 350, “Intangibles -~~based~~ ~~payments~~Goodwill and Other”, we classify intangible assets into three categories: (1) intangible assets with definite lives subject to amortization; (2) intangible assets with indefinite lives not subject to amortization; and (3) goodwill. For intangible assets with definite lives, tests for impairment must be performed if conditions exist that indicate the carrying value may not be recoverable. For intangible assets with indefinite lives and goodwill, tests for impairment must be performed at least annually or more frequently if events or circumstances indicate that assets might be impaired.

~~The~~When ~~Company~~facts ~~records~~and ~~stock~~circumstances ~~based~~indicate ~~compensation~~that inthe ~~accordance~~carrying ~~with~~value ~~the~~of ~~guidance~~intangible inassets ~~ASC~~determined ~~Topic~~to ~~718~~have ~~which~~definite ~~requires~~lives ~~the~~may ~~Company~~not tobe ~~recognize~~recoverable, ~~expenses~~management ~~related~~assesses tothe recoverability of the ~~fair~~carrying value ofby ~~its~~preparing ~~employee~~estimates ~~stock~~of ~~option~~future ~~awards~~undiscounted cash flows. ~~This~~If ~~eliminates~~the ~~accounting~~sum ~~for~~of ~~share-based~~the ~~compensation~~expected ~~transactions~~future ~~using~~cash flows is less than the ~~intrinsic~~carrying ~~value~~amount, ~~and~~we ~~requires~~recognize ~~instead~~an ~~that~~impairment ~~such~~loss. ~~transactions~~The beimpairment ~~accounted~~loss ~~for~~recognized ~~using~~is athe amount by which the carrying amount exceeds the fair- value~~-based~~ ~~method.~~which ~~The~~is ~~Company~~estimated ~~recognizes~~and ~~the~~calculated ~~cost~~by ofdiscounted ~~all~~cash ~~share-based~~flow ~~awards~~method. onThe aCompany ~~graded~~has ~~vesting~~determined ~~basis~~that ~~over~~an ~~the~~impairment ~~vesting~~charge ~~period~~is ofnot ~~the~~required ~~award~~2022 and 2021.

~~F-8~~Income tax

~~AS-IP~~The ~~TECH~~Company accounts for income taxes under FASB ASC 740 “Income Taxes”. Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, ~~INC~~in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

~~NOTES~~At TOJune ~~FINANCIAL~~30, ~~STATEMENTS~~2022 the Company had net operating loss carryforwards of $14,395,200. The deferred tax asset created by the U.S. net operating losses has been offset by a 100% valuation allowance for those with a 20 year life of $1,963,496 in 2022, compared to $2,049,266 in 2021 and 100% allowance for those with an indefinite life of $1,059,496 in 2022.

~~Stock~~Share-based ~~Options~~payments

WeThe ~~estimate~~Company records stock based compensation in accordance with the ~~fair~~guidance ~~value~~in ofASC ~~stock~~Topic ~~option~~718 ~~awards~~which onrequires the ~~date~~Company ofto ~~grant~~recognize ~~using~~expenses related to the ~~Black-Scholes-Merton~~fair ~~pricing~~value ~~model,~~of ~~which~~its isemployee ~~affected~~stock byoption ~~our~~awards. ~~stock~~This ~~price,~~eliminates asaccounting ~~well~~for asshare-based ~~assumptions~~compensation ~~regarding~~transactions ausing ~~number~~the ofintrinsic ~~complex~~value and ~~subjective~~requires ~~variables.~~instead ~~These~~that ~~variables~~such ~~include~~transactions ~~our~~be ~~expected~~accounted ~~stock~~for ~~price~~using ~~volatility~~a ~~over~~fair-value-based method. The Company recognizes the ~~term~~cost of ~~the~~all share-based awards, ~~risk~~on ~~free~~a ~~interest~~graded ~~rates~~vesting ~~and~~basis ~~expected~~over ~~dividends~~the vesting period of the award.

~~Earnings~~Stock ~~(Loss)~~Options ~~Per~~and ~~Share~~Warrants

~~Net~~We ~~loss~~estimate ~~per~~the ~~common~~fair ~~share~~value isof ~~computed~~stock byoption ~~dividing~~awards ~~net~~and ~~loss~~warrants byon the ~~weighted~~date ~~average~~of ~~common~~grant ~~shares~~using ~~outstanding during~~ the ~~period~~Black-Scholes-Merton aspricing ~~defined by FASB~~model, ~~ASC~~which ~~Topic~~is ~~260,~~affected ~~“Earnings~~by ~~per~~our ~~Share”.~~stock ~~Basic~~price, ~~earnings~~as ~~per~~well ~~common~~as ~~share~~assumptions ~~(“EPS”)~~regarding ~~calculations~~a ~~are determined by dividing net income by the weighted average~~ number of ~~shares~~complex ofand ~~common~~subjective ~~stock outstanding during the year~~variables. ~~Diluted~~These ~~earnings~~variables ~~per~~include ~~common~~our ~~share~~expected ~~calculations~~stock ~~are~~price ~~determined~~volatility byover ~~dividing net income by~~ the ~~weighted~~term ~~average number~~ of ~~common~~the ~~shares and dilutive common share equivalents outstanding. During periods when common stock equivalents~~awards, ifrisk ~~any,~~free ~~are~~interest ~~anti-dilutive~~rates ~~they~~and ~~are~~expected ~~not considered in the computation~~dividends.

~~Revenue~~Earnings ~~recognition~~(Loss) Per Share

~~The~~Net ~~Company~~loss ~~recognizes~~per ~~revenue~~common share ~~from~~is computed by dividing net loss by the ~~sales~~weighted ofaverage ~~goods~~common ~~and~~shares ~~services~~outstanding byduring ~~related~~the ~~party~~period ~~distributors~~as ~~under~~defined by FASB, ASC ~~606~~Topic by260, ~~applying~~“Earnings ~~the~~per ~~following~~Share”. ~~steps:~~Basic earnings per common share (1“EPS”) ~~identify~~calculations ~~the~~are ~~contract~~determined ~~with~~by adividing ~~customer;~~net ~~(2)~~income ~~identify~~by the ~~performance~~weighted ~~obligations~~average innumber ~~the~~of ~~contract;~~shares ~~(3)~~of ~~determine~~common stock outstanding during the ~~transaction~~year. ~~price;~~Diluted ~~(4)~~earnings ~~allocate~~per ~~the~~common ~~transaction~~share ~~price~~calculations toare ~~each~~determined ~~performance~~by ~~obligation~~dividing innet income by the ~~contract;~~weighted ~~and~~average ~~(5)~~number ~~recognize~~of ~~revenue~~common ~~when~~shares ~~each~~and ~~performance~~dilutive ~~obligation~~common isshare ~~satisfied~~equivalents outstanding. ~~The~~During ~~Company~~periods ~~recognizes~~when ~~revenue~~common ~~net~~stock ofequivalents, ~~direct~~if ~~costs~~any, ~~such~~are asanti-dilutive ~~commissions~~they are not considered in the computation.

The Company receives revenue share from sales by related party distributors of products and services developed from the Company’s intellectual property. Revenue is recognized on an accrual basis as earned under contract or license agreements. Communication services are provided on the basis of non refundable prepayment and revenue is recognized using the output method. Hardware sales require payment before delivery of the equipment.F-7

~~Deferred~~AS-IP ~~revenue~~TECH, INC.

~~The~~NOTES ~~Company~~TO ~~receives~~FINANCIAL payment for services in advance before the subscription service is provided. The company recognizes the revenue as being earned as the services are provided. Deferred revenue of $1,892 and $21,696 was recognized in the 2021 and 2020 years respectively.STATEMENTS

~~Reclassification~~Revenue recognition

~~Certain~~The ~~amounts~~Company recognizes revenue share from the sales of goods and services by related party distributors under ASC 606 by applying the following steps: (1) identify the contract with a customer; (2) identify the performance obligations in the ~~prior~~contract; ~~period~~(3) ~~presented,~~determine ~~have~~the ~~been~~transaction ~~reclassified~~price; to(4) ~~conform~~allocate the transaction price to each performance obligation in the ~~current~~contract; ~~period~~and ~~financial~~(5) ~~statement~~recognize ~~presentation.~~revenue ~~These~~when ~~reclassification~~each ~~have~~performance noobligation ~~effect~~is onsatisfied. ~~previously~~The ~~reported~~Company recognizes revenue net ~~income~~of direct costs, such as commissions.

~~Recent~~The ~~Accounting~~Company ~~Pronouncements~~receives revenue share from sales by related party distributors of products and services developed from the Company’s intellectual property. Revenue is recognized on an accrual basis as earned under contract or license agreements. Communication services are provided on the basis of non refundable prepayment and revenue is recognized using the output method. Hardware sales require payment before delivery of the equipment.

~~The~~Deferred ~~company has evaluated the recent accounting pronouncements and believes that none of them have a material effect on the Company’s financial statements.~~revenue

~~Beneficial~~The ~~Conversion~~Company ~~Feature~~receives payment for services in advance before the subscription service is provided. The company recognizes the revenue as being earned as the services are provided. Deferred revenue of ~~Convertible~~$0 ~~Debt~~and $1,892 was recognized in the 2022 and 2021 years respectively.

The Company accounts for convertible debt in accordance with the guidelines established by FASB ASC 470-20, “Debt with Conversion and Other Options”. The Beneficial Conversion Feature (“BCF”) of convertible debt is normally characterized as the convertible portion or feature of certain debt that provide a rate of conversion that is below market value or in-the-money when issued. The Company records a BCF related to the issuance of convertible debt when issued, and also records the estimated fair value. Beneficial Conversion Features that are contingent upon the occurrence of a future event are recorded when the event is resolved.Reclassification

~~F-9~~Certain amounts in the prior period presented, have been reclassified to conform to the current period financial statement presentation. These reclassification have no effect on previously reported net income.

~~AS-IP~~Recent ~~TECH,~~Accounting ~~INC.~~Pronouncements

~~NOTES~~The TOcompany ~~FINANCIAL~~has ~~STATEMENTS~~evaluated the recent accounting pronouncements and believes that none of them have a material effect on the Company’s financial statements.

~~NOTE~~Beneficial 2Conversion -Feature ~~RELATED~~of ~~PARTY~~Convertible ~~TRANSACTIONS~~Debt

AsIn ~~of June 30,~~ 2021 ~~and 2020~~, the Company ~~has~~accounted ~~recorded~~for aconvertible ~~current~~debt ~~liability~~in ~~“related~~accordance ~~parties~~with ~~payables”~~the ofguidelines ~~$536,106~~established ~~and~~by ~~$826,716~~FASB ~~respectively.~~ASC ~~The~~470-20, ~~main~~“Debt ~~component~~with isConversion ~~advances~~and ~~made~~Other ~~by the CFO to pay for operating expenses~~Options”. ~~From~~In ~~July 1~~2022, ~~2016,~~the ~~interest~~Company has ~~accrued~~Rosen ~~on amounts due~~ to ~~the~~early ~~CFO~~adopt ~~calculated~~ASU ~~quarterly at a rate of 6.5% per annum. Interest accrued for the advance in the years ended June 30, 2021 and~~ 2020–06 ~~was $14,208~~ and ~~$16,395.~~as ~~The~~a ~~loan and accumulated interest will be repaid from surplus operating cash~~result, ~~when~~has ~~funds~~reversed ~~are available. As of June 30, 2021,~~ the ~~Company~~balance ~~settled part~~ of the ~~Related~~Beneficial ~~party~~Conversion ~~payables~~Feature ~~with long term convertible notes, net of discount of $99,484~~(“BCF”). ~~See Note 5 for further details.~~

AsNOTE of2 June 30, 2021 and 2020, the Company had “due to related parties” of $228,811 which are advances made by current and former directors to provide operating funds. The “due to related parties” balances are non-~~interest~~ ~~bearing~~RELATED ~~and~~PARTY ~~unsecured. The Company does not impute interest expense or recognize a discount on the face value of the notes.~~TRANSACTIONS

InAs ~~2016~~of June 30, ~~the~~2022 ~~Company~~and ~~acquired~~2021, the ~~BizjetMobile~~Company ~~intellectual~~has ~~property~~recorded ~~from~~a ncurrent ~~entity~~liability ~~affiliated~~“related ~~through~~parties ~~common~~payables” ~~stockholders~~of $484,938 and ~~directors~~$536,075 respectively. The main component is advances made by the CFO to pay for ~~$450,000~~operating expenses. InFrom ~~2021~~July ~~and~~1, ~~2020~~2016, interest has accrued on amounts due to the ~~Company~~CFO ~~provided~~calculated quarterly at a rate of 6.5% per annum. Interest accrued for the advance in the years ended June 30, 2022 and 2021 was $1311,~~737~~771 and $4114,~~216~~208. ~~respectively~~The ~~for~~loan ~~amortization~~and accumulated interest will be repaid from surplus operating cash, when funds are available. As of June 30, 2021, the ~~value~~Company settled part of the ~~intellectual~~Related ~~property~~party payables with long term convertible notes, net of discount of $99,484. See Note 5 for further details.

InAs ~~2021~~of June 30, 2022 and ~~2020~~2021, the Company ~~recorded~~had ~~net~~“due ~~revenue~~to related parties” of $61228,~~873~~811 ~~and~~amounts ~~$16~~due to the Company’s president,~~818~~ ~~respectively~~Ron ~~from~~Chapman. ~~entities~~The ~~affiliated~~“due ~~through~~to ~~common~~related ~~stockholders~~parties” balances are non-interest bearing and ~~directors~~unsecured. ~~for~~The ~~BizjetMobile~~Company ~~system~~does ~~sales~~not ~~after~~impute ~~deduction~~interest ofexpense ~~commission~~or ~~costs~~recognize ofa ~~$26,517~~discount ~~and~~on ~~$16,151~~the ~~respectively~~face value of the notes.

In ~~2021 and 2020~~2016, the Company ~~recorded~~acquired ~~revenue~~the ofBizjetMobile ~~$11,964~~intellectual ~~and~~property ~~$19,387 respectively~~ from ~~entities~~an entity affiliated through common stockholders and directors for ~~BizjetMobile~~$450,000. ~~service~~In ~~fees~~2022 ~~after~~and ~~deduction~~2021, ofthe ~~commissions~~Company ofprovided $~~1,376~~0 and $313,~~706~~737 respectively for amortization of the value of the intellectual property which has now been fully written off.

In ~~2021~~2022 and ~~2020~~2021, the Company ~~incurred~~recorded ~~expenses~~net revenue of $~~48,752~~0 and $8261,~~600~~873 respectively tofrom entities affiliated through common stockholders and directors for ~~management~~BizjetMobile ~~expenses~~system sales after deduction of commission costs of $0 and $26,517 respectively.

In ~~2021~~2022 and ~~2020~~2021, the Company ~~incurred~~recorded ~~expense~~revenue of $~~331,000~~0 and $~~216~~11,~~065~~964 torespectively from entities affiliated through common stockholders and directors for ~~marketing~~BizjetMobile ~~expenses.~~service ~~This~~fees ~~includes~~after ~~fees~~deduction of commissions of $~~96,000~~0 and $961,~~000~~376 ~~paid or accrued to the President, Ron Chapman in 2021 and 2020~~respectively.

~~In 2021 and 2020, the Company incurred expense of $106,863 and $161,210 for engineering services to entities considered related parties affiliated through common shareholding.~~F-8

InAS-IP ~~2021 and 2020~~TECH, ~~the Company incurred expense of $62,993 and $48,000 to entities affiliated through common stockholders and directors for technical service support~~INC.

InNOTES ~~2021~~TO ~~and~~FINANCIAL ~~2020, the Company incurred cost of sales, for commissions of $27,894 and $21,653 to entities affiliated through common stockholders and directors.~~STATEMENTS

~~F-10~~In 2022 and 2021, the Company incurred expenses of $96,000 and $48,752 respectively to entities affiliated through common stockholders and directors for management expenses.

~~AS-IP~~In ~~TECH~~2022 and 2021, ~~INC~~the Company incurred expense of $260,069 and $331,000 to entities affiliated through common stockholders and directors for marketing expenses. This includes fees of $96,000 and $96,000 paid or accrued to the President, Ron Chapman in 2022 and 2021.

~~NOTES~~In TO2022 ~~FINANCIAL~~and ~~STATEMENTS~~2021, the Company incurred expense of $176,887 and $106,863 for engineering services to entities considered related parties affiliated through common shareholding.

~~NOTE~~In 32022 -and ~~STOCKHOLDERS’~~2021, ~~EQUITY~~the Company incurred expense of $154,000 and $62,993 to entities affiliated through common stockholders and directors for technical service support.

~~Common~~In ~~stock~~2022 and 2021, the Company incurred cost of sales, for commissions of $0 and $27,894 to entities affiliated through common stockholders and directors.

~~The~~NOTE ~~Company~~3 ~~has~~- ~~authorized~~STOCKHOLDERS’ ~~capital of 500,000,000 shares of common stock with a par value of $0.0001.~~EQUITY

~~During~~Common ~~the year ended June 30, 2020, the Company did not issue any shares.~~stock

~~During~~The ~~the~~Company ~~year~~has ~~ended~~authorized ~~June~~capital ~~30,~~of ~~2021~~500,000,000 ~~the~~shares ~~Company~~of ~~issued~~common astock ~~total~~with ofa ~~40,591,400~~par ~~shares~~value ~~for~~of $~~405,914~~0.0001.

During the year ended June 30, 2021, the Company issued a total of 40,591,400 shares for $405,914 cash at $0.01 per share.

During the year ended June 30, 2021, the Company issued a total of 1,000,000 shares for $12,000 cash at $0.012 per share.

During the year ended June 30, 2021, the Company issued a total of 11,435,999 shares for $171,540 cash at $0.015 per share.

During the year ended June 30, 2021, the Company issued a total of 650,000 shares for $13,000 cash at $0.02 per share.

During the year ended June 30, 2021, the Company issued a total of 545,994 shares for services valued at $6,716 at $0.0123 per share.

During the year ended June 30, 2021, the Company issued 1,000,000 shares valued at $12,300 in lieu of directors fees, and issued 11,000,000 shares valued at $110,000 for services.

During the year ended June 30, 2021, the Company issued a total of 2,625,122 shares in lieu of interest of $134,084 and incurred a loss of $285,750 on issue of the shares.

During the year ended June 30, 2021, the Company issued a total of 2,766,224 shares for $51,564 reduction of related party accounts payable, but incurred a loss of $18,770 on issue of the shares.

During the year ended June 30, 2021, the Company issued a total of 1,422,389 shares from Subscriptions Payable at a nominal price of $0.0184 per share.

~~The~~During ~~Company~~the asyear ofended June 30, ~~2021 had 255~~2022,~~149,894~~ ~~shares~~the Company issued ~~and~~a ~~outstanding,~~total ~~and~~of 508,~~000~~668,876 shares ~~in treasury. Treasury shares are accounted~~ for by$866,888 ~~the~~cash ~~par~~at ~~value~~$0.10 ~~method~~per share.

~~Preferred~~During ~~stock~~the year ended June 30, 2022, the Company issued a total of 2,478,537 shares in lieu of interest of $125,594 and incurred a loss of $210,508 on issue of the shares.

AsDuring ofthe year ended June 30, ~~2021~~2022, the Company ~~had~~issued 501,~~000~~400,000 shares offor ~~authorized~~services ~~preferred~~valued ~~stock~~at $112,000 at $0.~~0001~~08 ~~par~~per ~~value~~share; 41,366 ~~with~~shares nofor ~~shares~~services ~~issued~~valued at $4,343 at $0.105 per share; and ~~outstanding~~225,000 shares for services valued at $30,375 as a share price of $0.135.

~~Subscription for capital~~F-9

AsAS-IP ~~of June 30~~TECH, 2021 and June 30, 2020, the Company had received $0 and $361,646 respectively, representing funds received to purchase the Company’s for which common stock was not issued until after the related balance sheet dateINC.

~~Subscriptions~~NOTES ~~payable~~TO FINANCIAL STATEMENTS

AsDuring ofthe year ended June 30, ~~2020~~2022, the Company ~~had~~issued a total of 1150,~~422,389~~000 shares ~~payable~~for torelated anparty ~~individual~~services ~~with~~valued aat ~~net~~$21,000 ~~value~~at of $~~26,186~~0.135 ~~The~~per ~~shares have subsequently been issued~~share.

~~F-11~~During the year ended June 30, 2022, the Company exercised its rights under convertible notes and issued a total of 9,155,900 shares at the conversion price of $0.05 per share. The difference between the conversion price and the then market price of $0.0223 cents per share was recorded as a loss on issue of $204,176.

~~AS-IP~~During ~~TECH~~the year ended June 30, ~~INC~~2022, the company issued 1,428,000 of shares in lieu of directors fees at $0.14 per share.

~~NOTES~~As TOof ~~FINANCIAL~~June ~~STATEMENTS~~30, 2022, the Company had 278,697,573 shares issued and outstanding, and 50,000 shares in treasury. Treasury shares are accounted for by the par value method.

~~Stock~~Preferred ~~Options~~stock

~~During~~As ~~the~~of ~~year ended~~ June 30, ~~2017~~2021, the Company ~~issued~~had ~~stock options to acquire 341~~50,~~500~~000,000 shares of ~~the~~authorized ~~Company’s~~preferred ~~common~~ stock, ~~at a price of~~ $0.100001 ~~per~~par ~~share.~~value, ~~The~~with ~~term~~no ofshares ~~the options is 5 years from the date of issue. The options were~~ issued ~~in return for capital raising services~~ and ~~the accounts reflect an option cost of $7,360~~outstanding.

	Options Outstanding	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (Years)	Aggregated Intrinsic Value
Outstanding at June 30, 2019	341,500	$0.10	2.17	$0
Granted	-	-
Exercised	-	-
Expired	-	-
Forfeited	-	-
Outstanding at June 30, 2020	341,500	$0.10	1.17	$0
Granted	-	-
Exercised	-	-
Expired	-	-
Forfeited	-	-
Outstanding and exercisable at June 30, 2021	341,500	$0.10	0.17	$0

Subscription for capital

~~NOTE~~As 4of -June ~~INTANGIBLE~~30, ~~ASSETS~~2022 and June 30, 2021, the Company had received $1,196 and $0 respectively, representing funds received to purchase the Company’s for which common stock was not issued until after the related balance sheet date.

InStock ~~the~~Options year ended June 30, 2016, the Company took up Intangible Assets of $450,000 which represented the termination fee negotiated with the licensee of the Company’s technology. In the year ended June 30, 2018, the Company took up an impairment charge of $113,832 to reflect a lower value of the technology. On the basis that the technology has a useful life of 5 years, and that the Company had taken up amortization to that date of $240,000, the Company provided for amortization of $13,737 and $41,216 in the years ended June 30, 2021 and 2020 respectively. The intangible asset has now been fully amortized.Warrants

~~NOTE~~During the year ended June 30, 2017, the Company issued stock options to acquire 341,500 shares of the Company’s common stock at a price of $0.10 per share. The term of the options is 5 -years ~~LOANS~~from the date of issue. The options were issued in return for capital raising services and the accounts reflect an option cost of $7,360.

~~Unsecured~~During ~~loans~~the year ended June 30, 2022, the Company issued warrants to acquire 2,000,000 shares of the Company’s common stock at a price of $0.15 per share. The term of the options is 3.5 years from the date of issue. The warrants were issued in return for capital raising services and the accounts reflect a warrant cost of $73,147.

The Company has an unsecured loan from a third party with balance outstanding at June 30, 2021 of $30,016 (June 30, 2020 $20,335). Interest is calculated at a rate of 20% per annum with interest of $5,327 and $5,165 taken up in the years ended June 30, 2021 and 2020 respectively. The Company is making principal and interest payments for the loan when funds are available.

	Options/Warrants Outstanding	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life (Years)	Aggregated Intrinsic Value
Outstanding at June 30, 2020	341,500	$0.10	1.17	$0
Granted	-	-
Exercised	-	-
Expired	-	-
Forfeited	-	-
Outstanding at June 30, 2021	341,500	$0.10	0.17	$0
Granted	-	-
Exercised	-	-
Expired	-	-
Forfeited	-	-
Outstanding at June 30, 2022	2,000,000	$0.15	3.5	$0
Granted	-	-
Exercised	-	-
Expired	341,500	-
Forfeited	-	-

~~The Company has outstanding unsecured loans from shareholders totaling $~~F-10,000 at June 30, 2021 and $70,295 at June 30, 2020. The terms of the loans provide that if they are not repaid by the loan anniversary (December 31 each year), the Company will issue 16,667 shares of common stock for each $5,000 of the loan outstanding in lieu of interest. At June 30, 2021 and 2020, the Company had accumulated interest on the loans of $10,005 and $12,901 calculated at the Company’s prevailing share price. The interest will be converted, in due course, by the issue of shares of common stock. The lenders for $60,795 have agreed, effective June 30, 2021 to switch their loans to convertible notes.

FAS-12IP TECH, INC.

~~AS-IP~~NOTES ~~TECH,~~TO ~~INC.~~FINANCIAL STATEMENTS

~~NOTES~~NOTE TO4 ~~FINANCIAL~~- ~~STATEMENTS~~INTANGIBLE ASSETS

~~Convertible~~In ~~notes~~the year ended June 30, 2016, the Company took up Intangible Assets of $450,000 which represented the termination fee negotiated with the licensee of the Company’s technology. In the year ended June 30, 2018, the Company took up an impairment charge of $113,832 to reflect a lower value of the technology. On the basis that the technology has a useful life of 5 years, and that the Company had taken up amortization to that date of $240,000, the Company provided for amortization of $0 and $13,737 in the years ended June 30, 2022 and 2021 respectively. The intangible asset has now been fully amortized.

~~The~~NOTE ~~Company~~5 ~~has~~- convertible notes totaling $1,624,586 and $607,500 as of June 30, 2021, and June 30, 2020 respectively. The holders of the convertible notes have the right of conversion from the date of issuance. As of June 30, 2021, the Company determined that a beneficial conversion feature discount of $1,003,630 should be applied to the carrying value of convertible notes. In the year ended June 30, 2021 and June 30, 2020, the company has taken up an amortization expense of $133,765 and $0 against the beneficial conversion feature.LOANS

~~Convertible~~Unsecured ~~notes outstanding as of June 30, 2021 and 2020 are summarized below:~~loans

Details	Maturity Date	Balance at June 30, 2021	Balance at June 30, 2020
20% Convertible Notes totaling $337,500 plus accrued interest	Dec. 31,2023	$ 540,653	$ 337,500
20% Convertible Notes totaling $247,500 plus accrued interest	Dec. 31,2023	271,875	270,000
20% Convertible Notes totaling $200,000 plus accrued interest	Dec. 31,2023	212,939	-
20% Convertible Notes totaling $125,000 plus accrued interest	Dec. 31,2023	126,326	-
20% Related party Convertible Notes totaling $375,000 plus accrued interest	Dec. 31,2023	412,500	-
20% Convertible Notes totaling $60,295 plus accrued interest	Dec. 31,2023	60,295	-
Total convertible notes		1,624,588	607,500
Less Unamortized discounts		(1,003,630)	-
Net convertible notes		$ 620,958	$ 607,500

The Company has an unsecured loan from a third party with balance outstanding at June 30, 2022 of $36,601 (June 30, 2021 $30,016). Interest is calculated at a rate of 20% per annum with interest of $6,584 and $5,327 taken up in the years ended June 30, 2022 and 2021 respectively. The Company is making principal and interest payments for the loan when funds are available.

InThe ~~2018~~Company has outstanding unsecured loans from shareholders totalling $10,000 at June 30, 2022 and $10,000 at June 30, 2021. The terms of the loans, originally totalling $70,295, provide that if they are not repaid by the loan anniversary (December 31 each year), the Company ~~issued~~will ~~Convertible~~issue ~~Notes~~16,667 ~~which~~shares ~~totaled~~of common stock for each $~~607~~5,~~500~~000 of the loan outstanding in lieu of interest. At June 30, to2022 ~~fund~~and 2021, the ~~development~~Company had accumulated interest on the loans of ~~its~~$0 ~~fflya~~and ~~systems~~$10,005 calculated at the Company’s prevailing share price. ~~Two~~The ~~issues~~interest ~~were~~will ~~made~~be asconverted, ~~follows:~~in due course, by the issue of shares of common stock. The lenders for $60,795 have agreed, effective June 30, 2021 to switch their loans to convertible notes.

~~The~~Convertible ~~first convertible note for $337,500. Terms of the issue are:~~notes

~~-Interest~~The ~~rate:~~Company ~~20%~~has ~~per~~convertible ~~annum~~notes totalling $1,537,585 and $1,624,586 as of June 30, 2022, and June 30, 2021 respectively. The holders of the convertible notes have the right of conversion from the date of issuance. As of June 30, 2021, the Company determined that a beneficial conversion feature discount of $1,003,630 should be applied to the carrying value of convertible notes. In the year ended June 30, 2021, the Company took up an amortization expense of $133,765 against the beneficial conversion feature. In the year ended June 30, 2022, the Company has elected to early adopt ASU 2020–06 that recombined instruments into a single liability instrument and do not separately present in equity and in bedded beneficial conversion feature from the convertible notes.

~~-Conversion~~Convertible ~~price:~~notes ~~$0.03~~outstanding ~~per~~as ~~share.~~ of June 30, 2022 and 2021 are summarized below:

-Maturity date: December 1, 2020, which has now been extended to December 31, 2023, conditional on the holders advancing an additional $200,000 on terms set out under 4. below, and outstanding interest to be compounded.

Details	Maturity Date	Balance at June 30, 2022	Balance at June 30, 2021
20% Convertible Notes totalling $337,500 plus accrued interest	Dec. 31,2023	$ 659,293	$ 540,653
20% Convertible Notes totalling $247,500 plus accrued interest	Dec. 31,2023	31,126	271,875
20% Convertible Notes totalling $200,000 plus accrued interest	Dec. 31,2023	259,666	212,939
20% Convertible Notes totalling $125,000 plus accrued interest	Dec. 31,2023	0	126,326
20% Related party Convertible Notes totalling $375,000 plus accrued interest	Dec. 31,2023	487,500	412,500
0% Convertible Notes totalling $100,000		100,000	0
Total convertible notes		1,537,585	1,624,588
Less Unamortized discounts		0	(1,003,630)
Net convertible notes		$ 1,537,585	$ 620,958

AIn ~~second~~2018, ~~convertible~~the ~~note~~Company ~~issue~~issued ~~for~~Convertible Notes which totalled $~~247~~607,500, to fund the development of its fflya systems. In return for providing the funding, the original investors will receive commissions on Viator tours and attractions for the ~~following~~first 27 system installations. Each investor will receive a commission for three years on terms to be agreed, based on the net revenue received once the systems commence operation. To date, no systems have been installed and no commissions have been paid. Two issues of Convertible Notes were made as follows:

~~-Interest~~The ~~rate: 20%~~first ~~per~~Convertible ~~annum~~Note for $337,500. ~~payable~~Terms ~~monthly~~of inthe ~~arrears~~ issue are:

-~~Conversion~~Interest ~~price~~rate: ~~$0.05~~ 20% per ~~share~~ annum.

F-~~Maturity date: December 1, 2020, which had been extended to December 31, 2023.~~ 11

InAS-IP ~~return for providing the funding~~TECH, ~~the original investors will receive commissions on Viator tours and attractions for the first 27 system installations~~INC. Each investor will receive a commission for three years on terms to be agreed, based on the net revenue received once the systems commence operation. To date, no systems have been installed and no commissions have been paid. None of the Notes have been converted to shares to date.

InNOTES ~~July~~TO ~~2021,~~FINANCIAL ~~related party contractors agreed to accept convertible notes totaling $375,000 to reduce the debts they are owed, as follows:~~STATEMENTS

-~~Interest~~Conversion ~~rate~~price: ~~20%~~$0.03 per ~~annum, payable monthly in arrears in shares~~ share.

-~~Conversion~~Maturity ~~price~~date: December 1, 2020, which has now been extended to December 31, 2023, conditional on the holders advancing an additional $~~0.015~~200,000 ~~per~~on ~~share~~ terms set out, and outstanding interest to be compounded.

~~-Maturity~~A ~~date:~~second ~~December~~Convertible 31Note issue for $247,500, ~~2023~~ on the following terms:

~~Two~~-Interest ~~convertible~~rate: 20% ~~note~~per ~~for $200~~annum,~~000.~~ ~~Terms~~payable ofmonthly ~~the~~in ~~issue are:~~arrears

-~~Interest~~Conversion ~~rate~~price: $0.05 ~~20%~~ per ~~annum.~~ share

-~~Conversion~~Maturity ~~price~~date: December ~~$0.015~~1, ~~per~~2020, ~~share~~which had been extended to December 31, 2023.

~~-Maturity~~$225,000 ~~date:~~of ~~December~~these 1,Notes ~~2023,~~were ~~and~~converted ~~outstanding~~to ~~interest~~shares toat beJune ~~compounded~~30, 2022.

~~F-13~~Two Convertible Notes for $200,000 were issued in March 2021. Terms of the issue are:

AS-IPInterest ~~TECH,~~rate: ~~INC~~20% per annum.

~~NOTES~~-Conversion TOprice: ~~FINANCIAL~~$0.015 ~~STATEMENTS~~per share.

~~Additional~~-Maturity ~~convertible~~date: ~~notes~~December ~~totaling~~1, ~~$125~~2023,~~000,~~ onand ~~the~~outstanding ~~following~~interest ~~terms:~~to be compounded.

~~-Interest~~Additional ~~rate:~~convertible ~~20%~~notes ~~per~~totalling ~~annum~~$125,000, ~~payable~~on ~~monthly~~the infollowing ~~arrears by cash or shares~~ terms:

-~~Conversion~~Interest ~~price~~rate: ~~$0.05~~20% per ~~share~~ annum, payable monthly in arrears by cash or shares

-~~Maturity~~Conversion ~~date~~price: ~~December~~$0.05 ~~31,~~per ~~2023.~~ share

~~Convertible~~-Maturity ~~notes~~date: ~~totaling~~December ~~$60~~31,~~295,~~ ~~to replace the loans detailed above, on the following terms:~~2023.

~~-Interest~~These ~~rate:~~notes ~~20%~~were ~~per~~converted ~~annum,~~to ~~payable~~shares ~~monthly~~at inJune ~~arrears~~30, ~~by cash or shares~~ 2022.

~~-Conversion~~Convertible ~~price:~~Notes totalling $060,295, were issued to replace the loans detailed in Note 5.05 ~~per~~above, ~~share~~ on the following terms:

-~~Maturity~~Interest ~~date~~rate: ~~December~~20% 31per annum, ~~2023.~~ payable monthly in arrears by cash or shares

~~$1,137,395~~-Conversion ~~debt~~price: ~~discounts were recognized as a result of beneficial conversion feature incurred upon issuance of above convertible notes~~$0.05 ~~$133,765~~per ~~was amortized during the year ended June 30, 2021.~~share

~~NOTE 6~~ -Maturity ~~RISKS~~date: &December ~~UNCERTAINTIES~~31, 2023.

~~Impact from the New Coronavirus Global Pandemic (“COVID-19”) - The current outbreak of COVID-19 could have a material and adverse effect on the Company’s business operations.~~ These ~~could~~notes ~~include~~were ~~disruptions~~converted ~~or restrictions on the Company’s ability~~ to ~~distribute~~shares ~~its~~at ~~products,~~June as well as temporary closures of its facilities or the facilities of the suppliers or customers. Any disruption or delay of the Company’s suppliers or customers would likely impact the Company’s sales and operating results. In addition30, COVID-19 has resulted in a widespread health crisis that could adversely affect global economies and financial markets, resulting in an economic downturn that could significantly impact our operating results2022.

~~The~~In ~~Company’s~~July ~~revenue~~2021 isConvertible ~~derived~~Notes ~~mainly~~totalling ~~from~~$25,000 awere ~~single~~issued ~~related~~on ~~party distributor. Any disruption to~~ the ~~business~~following ~~of the distributor will impact the Company’s sales and operating results.~~terms:

~~NOTE~~-Interest 7rate: -20% ~~SIGNIFICANT~~per ~~SUBSEQUENT~~annum, ~~EVENTS~~payable monthly in arrears by cash or shares

~~Since~~-Conversion ~~June~~price: ~~30, 2021, the Company has continued to raise capital to fund its operations through convertible notes totaling~~ $~~25,000~~0.05 ~~and~~per ~~sale of 2,901,500 shares for $290,150, up to the date of this report.~~share

~~The~~-Maturity ~~convertible~~date: ~~notes~~December ~~have~~31, ~~been issued on the following terms:~~2023.

~~-Interest~~These ~~rate:~~notes ~~20%~~were ~~per~~converted ~~annum,~~to ~~payable~~shares ~~monthly~~at inJune ~~arrears~~30, ~~by cash or shares~~ 2022.

~~-Conversion~~In ~~price:~~July 2021, related party contractors agreed to accept Convertible Notes totalling $~~0.05~~375,000 ~~per~~to ~~share~~ reduce the debts they are owed, as follows:

-~~Maturity~~Interest ~~date~~rate: ~~December~~20% 31per annum, ~~2023.~~ payable monthly in arrears in shares

F-14Conversion price: $0.015 per share

~~ITEM~~-Maturity 9.date: ~~CHANGES~~December IN31, ~~AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.~~2023

~~None~~In June 2022, $100,000 of related party debt was switched to two Convertible Notes, as follows:

~~ITEM~~-Interest ~~9A.~~rate: ~~CONTROLS~~0% ~~AND~~per ~~PROCEDURES.~~annum

~~(a)~~-Conversion ~~Disclosure~~price: ~~Controls~~$0.015 ~~and~~per ~~Procedures~~share

We-Maturity ~~maintain~~date: ~~disclosure~~December ~~controls and procedures that are designed to ensure that information required to be disclosed in our Securities Exchange Act of 1934 reports are recorded~~31, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our President and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.2023

~~Our~~NOTE ~~President~~6 ~~and Chief Financial Officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a~~-~~15(C)~~ ~~and~~RISKS ~~under~~& ~~the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of June 30, 2021.~~UNCERTAINTIES

~~Based~~Impact onfrom ~~this~~the ~~evaluation,~~New ~~the~~Coronavirus ~~President~~Global ~~and~~Pandemic ~~Chief~~(“COVID-19”) ~~Financial~~- ~~Officer~~COVID-19 ~~concluded~~could ~~that~~continue ~~our~~to ~~disclosure~~have ~~controls~~a material and ~~procedures~~adverse ~~are~~effect ~~not~~on ~~effective~~the toCompany’s ~~ensure~~business ~~that~~operations. ~~information~~These ~~required~~could include disruptions or restrictions on the Company’s ability to bedistribute ~~disclosed~~its byproducts, usas inwell ~~reports~~as ~~that~~temporary ~~are~~closures ~~filed~~of its facilities or ~~submitted~~the ~~under~~facilities of the ~~Exchange~~suppliers ~~Act~~or ~~recorded,~~customers. ~~processed,~~Any ~~summarized~~disruption ~~and~~or ~~reported~~delay ~~within~~of the ~~time~~Company’s ~~periods~~suppliers ~~specified~~or incustomers ~~Securities~~would likely impact the Company’s sales and ~~Exchange~~operating ~~Commission~~results. ~~rules~~In addition, COVID-19 has resulted in a widespread health crisis that could adversely affect global economies and ~~forms~~financial markets, resulting in an economic downturn that could significantly impact our operating results.

~~(b)~~As ~~Management~~the Company’s ~~Annual~~revenue ~~Report~~is onalso ~~Internal~~derived ~~Control~~from ~~over~~related ~~Financial~~party ~~Reporting~~distributors. Any disruption to the business of the distributor will impact the Company’s sales and operating results.

As of June 30, 2021, management performed, with the participation of our President and Chief Financial Officer, an evaluation of the effectiveness of our disclosure controls and procedures as defined in Rules 13aF-15 (e) and 15c-15 (e) of the Exchange Act. Our Disclosure controls and procedures controls and procedures are designed to ensure that information required to be disclosed in the report we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s forms, and that such information is accumulated and communicated to our management including our President and Chief Financial Officer, to allow timely decisions regarding required disclosures. Based on the evaluation, our President and Chief Financial Officer concluded that, our disclosure controls and procedures over financial reporting as of June 30, 2021, were not effective due to material weaknesses resulting from our lack of US GAAP knowledge and segregation of duties.12

~~The Company’s management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a~~AS-IP ~~15(f)~~TECH, ~~and 15d-15(f) under Exchange Act)~~INC. The Company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial policies and procedures that:

~~·pertain~~NOTES toTO ~~the~~FINANCIAL ~~maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets;~~ STATEMENTS

~~·provide~~NOTE ~~reasonable~~7 ~~assurance~~- ~~that~~SIGNIFICANT ~~transactions~~SUBSEQUENT are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of our Company are being made only in accordance with authorizations of our management and directors; and EVENTS

~~·provide~~Since ~~reasonable~~June ~~assurance~~30, ~~regarding~~2022, ~~prevention~~the orCompany ~~timely~~has ~~detection~~continued ofto ~~unauthorized~~raise ~~acquisition,~~capital ~~use~~to orfund ~~disposition~~its ofoperations ~~our~~through ~~assets~~sale ~~that~~of ~~could~~shares ~~have~~totalling a475,080 ~~material~~shares ~~effect~~for on$34,728, up to the ~~financial~~date ~~statements~~of this report.

11F-13

~~Because~~ITEM ~~of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements~~9. ~~Also~~CHANGES ~~projections~~IN ofAND ~~any~~DISAGREEMENTS ~~evaluation~~WITH ofACCOUNTANTS ~~effectiveness~~ON toACCOUNTING ~~future~~AND ~~periods~~FINANCIAL ~~are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate~~DISCLOSURE. Under the supervision and with the participation of our management, the Company assessed the effectiveness of the internal control over financial reporting as of June 30, 2021. In making this assessment, we used the criteria set forth in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO 2013). Based on the results of this assessment and on those criteria the Company concluded that the internal controls over financial reporting as of June 30, 2021 were not effective.

This annual report does not include any attestation report of the company’s registered public accounting firm regarding internal controls over financial reporting. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this annual report.None

~~(c)~~ITEM ~~Changes~~9A. inCONTROLS ~~Internal~~AND ~~Controls over Financial Reporting~~PROCEDURES.

~~None~~(a) Disclosure Controls and Procedures

12We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our Securities Exchange Act of 1934 reports are recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our President and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

~~PART~~Our ~~III~~President and Chief Financial Officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(C) and under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of June 30, 2022.

~~ITEM~~Based ~~10.~~on ~~DIRECTORS~~this evaluation, ~~EXECUTIVE~~the ~~OFFICERS~~President and Chief Financial Officer concluded that our disclosure controls and procedures are not effective to ensure that information required to be disclosed by us in reports that are filed or submitted under the Exchange Act recorded, ~~PROMOTERS~~processed, ~~AND~~summarized ~~CONTROL~~and ~~PERSONS;~~reported ~~COMPLIANCE~~within ~~WITH~~the ~~SECTION~~time ~~16(A)~~periods OFspecified ~~THE~~in ~~EXCHANGE~~Securities ~~ACT~~and Exchange Commission rules and forms.

~~The~~(b) ~~officers~~Management’s ~~and~~Annual ~~directors~~Report ofon ~~the~~Internal ~~Company~~Control ~~are~~over asFinancial ~~follows:~~Reporting

~~Name:~~As ~~Title:~~of ~~Ronald~~June J.30, ~~Chapman~~2022, ~~Chairman~~management performed, with the participation of our President and ~~Director~~Chief ~~Graham~~Financial OOfficer, an evaluation of the effectiveness of our disclosure controls and procedures as defined in Rules 13a-15 (e) and 15c-15 (e) of the Exchange Act. ~~Chappell~~Our ~~Director~~Disclosure ~~Philip~~controls Aand procedures controls and procedures are designed to ensure that information required to be disclosed in the report we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s forms, and that such information is accumulated and communicated to our management including our President and Chief Financial Officer, to allow timely decisions regarding required disclosures. ~~Shiels~~Based on the evaluation, our President and Chief Financial Officer concluded that, our disclosure controls and ~~Director~~procedures over financial reporting as of June 30, 2022, were not effective due to material weaknesses resulting from our lack of US GAAP knowledge and segregation of duties.

~~All~~The ~~directors of the~~ Company’s ~~hold~~management ~~office~~is ~~until~~responsible ~~the~~for ~~next~~establishing ~~annual meeting of shareholders or until their successors are elected~~ and ~~qualified.~~maintaining Atadequate ~~present,~~internal ~~the~~control ~~Company’s~~over ~~Bylaws~~financial ~~provide~~reporting ~~for~~(as ~~not~~defined ~~less~~in ~~than~~Rules ~~one,~~13a- ~~nor~~15(f) ~~more~~and ~~than~~15d-15(f) ~~seven~~under ~~directors.~~Exchange ~~Currently, there are three directors of the Company~~Act). The ~~Bylaws~~Company’s ~~permit~~internal ~~the~~control ~~Board~~over offinancial ~~Directors~~reporting tois ~~fill~~a ~~any~~process ~~vacancy~~designed ~~and~~to ~~such~~provide ~~director~~reasonable ~~may~~assurance ~~serve~~regarding ~~until~~ the ~~next~~reliability ~~annual meeting~~ of ~~shareholders~~financial orreporting ~~until his successor is elected~~ and ~~qualified. Officers serve at~~ the ~~discretion~~preparation of ~~the~~financial ~~Board~~policies ofand ~~Directors.~~procedures that:

~~The~~·pertain ~~principal~~to ~~occupation~~the ~~and~~maintenance ~~business~~of ~~experience~~records ~~for~~that, ~~each~~in ~~officer~~reasonable ~~and director of the Company~~detail, ~~for~~accurately atand ~~least~~fairly reflect the ~~last~~transactions ~~five~~and ~~years~~dispositions ~~are~~of asour ~~follows:~~assets;

~~RONALD~~·provide J.reasonable ~~CHAPMAN,~~assurance ~~69,~~that ~~serves~~transactions are recorded as ~~President~~necessary ~~and~~to apermit ~~director~~preparation of ~~the~~financial ~~Company.~~statements ~~Commencing~~ in ~~1985,~~accordance ~~Mr.~~with ~~Chapman founded and remains the managing director of ASI Holdings Pty. Ltd. and ASiQ Ltd. Since inception~~GAAP, ~~Mr. Chapman has overseen the product development~~ and ~~coordinated~~that ~~the~~receipts ~~marketing for ASiQ. Mr. Chapman is also managing director~~ and ~~the~~expenditures ~~beneficial owner~~ of ~~100%~~our ofCompany ~~Chapman~~are ~~International~~being ~~Pty~~made ~~Ltd.,~~only ~~which~~in isaccordance awith ~~shareholder~~authorizations of ~~the~~our ~~Company~~management ~~through~~and ~~its~~directors; ~~shareholding in ASI Technologies Pty. Ltd.~~and

~~GRAHAM~~·provide O.reasonable ~~CHAPPELL,~~assurance ~~76,~~regarding ~~has~~prevention ~~been~~or atimely ~~director~~detection of ~~the~~unauthorized ~~Company since its inception. Mr. Chappell has worked in the aerospace industry for 30 years. Since 1985~~acquisition, ~~Mr.~~use ~~Chappell~~or ~~has~~disposition ~~operated as the principal~~ of ~~Chappell~~our ~~Salikin~~assets ~~Weil~~that ~~Associates~~could ~~Pty.~~have ~~Ltd. (“Chappell Salikin”), Victoria, Australia,~~ a ~~private~~material ~~aerospace,~~effect ~~technology~~on ~~and defence industries consultancy company. Mr. Chappell obtained a Diploma of Aeronautical Engineering degree from~~ the ~~Royal~~financial ~~Melbourne Institute of Technology in 1968 and a Masters of Science (Air Transport Engineering) from Cranfield University in 1974~~statements.

~~PHILIP~~Because A.of ~~SHIELS,~~its 69inherent limitations, ~~has~~internal ~~been~~control aover ~~director~~financial ofreporting ~~the~~may ~~Company~~not ~~since~~prevent ~~its~~or ~~inception~~detect misstatements. ~~From~~Also ~~1992~~projections of any evaluation of effectiveness to future periods are subject to the ~~present~~risk that controls may become inadequate because of changes in conditions, ~~Mr.~~or ~~Shiels~~that ~~has~~the ~~operated~~degree ~~Shiels~~of &compliance Cowith the policies or procedures may deteriorate., ~~Victoria,~~Under ~~Australia,~~the asupervision ~~private~~and ~~consulting~~with ~~practice~~the ~~providing~~participation of our management, ~~and~~the ~~corporate~~Company ~~advisory~~assessed ~~services.~~the ~~Shiels~~effectiveness &of ~~Co.~~the ~~has~~internal ~~served~~control asover afinancial ~~consultant~~reporting toas ~~AS-IP~~of ~~Tech~~June 30, ~~Inc~~2022. ~~since~~In ~~inception.~~making ~~Mr.~~this ~~Shiels~~assessment, ~~received~~we aused ~~Bachelor~~the criteria set forth in Internal Control-Integrated Framework issued by the Committee of ~~Business~~Sponsoring Organizations of the Treadway Commission (~~Accountancy~~COSO 2013). ~~Degree~~Based ~~from~~on the ~~RMIT~~results ~~University~~of inthis ~~1976~~assessment and ~~has~~on ~~been~~those acriteria ~~Member~~the ofCompany ~~Chartered~~concluded ~~Accountants~~that ~~Australia~~the &internal ~~New~~controls ~~Zealand~~over ~~since~~financial ~~1978~~reporting as of June 30, 2022 were not effective.

~~ITEM~~ 11~~. EXECUTIVE COMPENSATION.~~

~~The~~This ~~Company~~annual ~~has~~report does not ~~entered~~include ~~into~~ any ~~employment~~attestation ~~agreements~~report ~~with~~of ~~its~~the ~~executive~~company’s ~~officers~~registered orpublic ~~directors~~accounting ~~nor~~firm ~~has~~regarding itinternal ~~obtained~~controls ~~any~~over ~~key-man~~financial ~~life~~reporting. ~~insurance~~Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this annual report.

~~Each~~(c) ~~director~~Changes ~~is entitled to receive reasonable expenses incurred~~ in ~~attending~~Internal ~~meetings~~Controls ofover ~~the~~Financial Board of Directors of the Company. The members of the Board of Directors intend to meet at least quarterly during the Company’s fiscal year, and at such other times duly called. The Company presently has three directors.Reporting

The following table sets forth the total compensation paid or accrued by the Company on behalf of the Chief Executive Officer and Chief Financial Officer of the Company during 2020 and 2021. No other officer of the Company received a salary and bonus in excess of $100,000 for services rendered during the fiscal year ended June 30, 2021:None

1312

~~SUMMARY~~PART ~~COMPENSATION TABLE~~III

NAME AND PRINCIPAL POSITION	FISCAL YEAR	ANNUAL SALARY	COMPENSATION BONUS/AWARDS	OTHER COMPENSATION ALL OTHER
Ronald Chapman, President	2021 2020	- -	$55,000 -	$ 96,000(1) $ 96,000(1)
Philip Shiels, Chief Financial Officer	2021 2020	- -	- -	$ 48,752(2) $ 82,600(2)
Graham Chappell, Director	2021 2020	- -	$6,000 -	$ - $ -
Richard Lukso, Former Chairman	2021 2020	- -	$6,000 -	$ - $ -

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT.

~~(1)~~The ~~Marketing~~officers ~~fee,~~and ~~paid~~directors orof ~~accrued~~the Company are as follows:

~~(2)~~Name: ~~Officers~~Title: ~~management~~Ronald ~~fee~~J. Chapman Chairman, ~~paid~~President orand ~~accrued~~Director Graham O. Chappell Director Philip A. Shiels Chief Financial Officer and Director

~~ITEM~~All 12directors of the Company hold office until the next annual meeting of shareholders or until their successors are elected and qualified. ~~SECURITY~~At ~~OWNERSHIP~~present, OFthe ~~CERTAIN~~Company’s ~~BENEFICIAL~~Bylaws ~~OWNERS~~provide ~~AND~~for ~~MANAGEMENT~~not less than one, nor more than seven directors. Currently, there are three directors of the Company. The Bylaws permit the Board of Directors to fill any vacancy and such director may serve until the next annual meeting of shareholders or until his successor is elected and qualified. Officers serve at the discretion of the Board of Directors.

The ~~following~~principal ~~table~~occupation ~~sets~~and ~~forth~~business ~~certain~~experience ~~information~~for ~~as of the date of this Report regarding the beneficial ownership of the Company’s Common Stock by~~ each officer and director of the Company, ~~and~~for byat ~~each~~least ~~person~~the ~~who~~last ~~owns in excess of~~ five ~~percent~~years ofare ~~the~~as ~~Company’s Common Stock giving effect to the exercise of warrants or options held by the named security holder.~~follows:

Name, Position and Address	Shares of Common Stock Beneficially Owned	Percentage of Shares Owned
Ronald J. Chapman (2) Chairmen, President and director 1 Bass Drive, Torquay, Vic., 3228 Australia	18,973,336	7.4%
Graham O. Chappell (3) Director 5 Marine Parade, Suite 2 St. Kilda, Vic., 3148, Australia	3,271,406	1.3%
Philip A. Shiels (4) Chief Financial Officer and director 88 Elgin Street Hawthorn, Vic., 3122 Australia	18,448,522	7.2%
Eric P. van der Griend (6) 100 Barkly St St Kilda, Vic., 3182 Australia	14,157,639	5.6%

RONALD J. CHAPMAN, 70, serves as President and a director of the Company. Commencing in 1985, Mr. Chapman founded and remains the managing director of ASI Holdings Pty. Ltd. and ASiQ Ltd. Since inception, Mr. Chapman has overseen the product development and coordinated the marketing for ASiQ. Mr. Chapman is also managing director and the beneficial owner of 100% of Chapman International Pty Ltd., which is a shareholder of the Company through its shareholding in ASI Technologies Pty. Ltd.

14GRAHAM O. CHAPPELL, 77, has been a director of the Company since its inception. Mr. Chappell has worked in the aerospace industry for 30 years. Since 1985, Mr. Chappell has operated as the principal of Chappell Salikin Weil Associates Pty. Ltd. (“Chappell Salikin”), Victoria, Australia, a private aerospace, technology and defence industries consultancy company. Mr. Chappell obtained a Diploma of Aeronautical Engineering degree from the Royal Melbourne Institute of Technology in 1968 and a Masters of Science (Air Transport Engineering) from Cranfield University in 1974.

Name, Position and Address	Shares of Common Stock Beneficially Owned	Percentage of Shares Owned
David & Beverly Chalmers (7) 10 Breaker Court Ocean Grove Vic., 3226 Australia	13,320,354	5.4%
Reginald Edward Gleeson (8) 57 Black St. Brighton Vic., 3186 Australia	15,644,030	6.4%
Roman Lohyn (9) 5 Rothesay Avenue Brighton Vic., 3186 Australia	24,483,338	9.6%
All the officers and directors as a group (4 persons)	40,693,264	15.9%

PHILIP A. SHIELS, 70, has been a director of the Company since its inception. From 1992 to the present, Mr. Shiels has operated Shiels & Co., Victoria, Australia, a private consulting practice providing management and corporate advisory services. Shiels & Co. has served as a consultant to the Company since inception. Mr. Shiels received a Bachelor of Business (Accountancy) Degree from the RMIT University in 1976 and has been a Member of Chartered Accountants Australia & New Zealand since 1978.

~~(1) Assumes~~ITEM ~~255,149,894~~11. ~~shares~~EXECUTIVE ~~of Common Stock issued and outstanding~~COMPENSATION.

~~(2) Ronald~~The ~~J. Chapman, President and a director of the~~ Company, ~~owns~~has ~~125,006~~not ~~shares~~entered ~~directly.~~into ~~Mr.~~any ~~Chapman~~employment isagreements ~~the~~with ~~managing~~its ~~director~~executive ~~(president)~~officers ~~and~~or ~~majority~~directors ~~shareholder~~nor ofhas ~~Chapman~~it ~~International~~obtained ~~Pty.~~any ~~Ltd.~~key-man ~~holds~~life ~~5,950,000 shares and is the controlling shareholder of ASIT Australia through which Mr~~insurance. Chapman is the beneficial owner of 266,575 shares. Mr. Chapman holds the power of attorney for the trustee of the Research No.1 Trust which holds 10,131,755 Shares. Mr. Chapman is a trustee and a beneficiary of the Madanosaj Superannuation Fund which holds 2,500,000 shares.

~~(3) Graham~~Each ~~O. Chappell, a~~ director ofis ~~the~~entitled ~~Company,~~to isreceive ~~the~~reasonable ~~managing~~expenses ~~director~~incurred ~~(president)~~in ~~and~~attending ~~sole~~meetings ~~shareholder~~ of ~~Chappell Salikin Weil Associates Pty. Ltd. and is considered~~ the ~~beneficial~~Board ~~owner~~of Directors of the ~~788,006 Shares~~Company. ~~Mr.~~The ~~Chappell~~members isof the ~~sole~~Board ~~shareholder~~ of ~~International~~Directors ~~Aviation~~intend ~~Services~~to ~~Pty.~~meet ~~Ltd.~~at ~~which~~least ~~owns~~quarterly ~~43,400~~during ~~shares of which Mr. Chappell is considered~~ the ~~beneficial~~Company’s ~~owner.~~fiscal ~~Mr.~~year, ~~Chappell is a trustee~~ and aat ~~beneficiary~~such ofother ~~the~~times ~~Chappell~~duly ~~Salikin Weil Associates Pty~~called. ~~Ltd.~~The ~~Staff~~Company ~~Superannuation~~presently ~~Fund~~has ~~which~~three ~~holds 2,440,000 shares~~directors.

~~(4) Philip~~The A.following ~~Shiels,~~table ~~Chief~~sets ~~Financial~~forth ~~Officer~~the ~~and~~total acompensation ~~director~~paid ofor accrued by the Company, ~~holds~~on ~~the~~behalf ~~power~~ of ~~attorney~~the ~~for~~Chief ~~the~~Executive ~~trustee~~Officer ofand ~~the~~Chief ~~Research~~Financial ~~No.~~Officer 2of ~~Trust~~the ~~which~~Company ~~holds~~during ~~3,198,522~~2021 ~~Shares.~~and Mr2022. ~~Shiels~~No isother aofficer ~~trustee~~of ~~and~~the aCompany ~~beneficiary~~received ofa ~~the~~salary ~~Shiels~~and ~~Superannuation~~bonus ~~Fund~~in ~~which~~excess ~~holds~~of 8$100,~~250,~~000 ~~shares.~~for ~~Mr.~~services ~~Shiels~~rendered isduring athe ~~trustee~~fiscal ~~and~~year aended ~~beneficiary~~June ~~of The Shiels Trust which holds 7~~30,~~000,000~~ ~~shares.~~2022:

(5) Roman Lohyn is a trustee of Mostyn Superannuation Fund which owns 23,133,338 shares, a director of Roman Lohyn Pty. Ltd. which owns 1,000,000 shares and a director of Sorcerer Pty. Ltd. which owns 350,000 shares.13

~~(6) Eric~~SUMMARY P.COMPENSATION van der Griend is a director and shareholder of Ocean View Investment Pty. Ltd. which owns 13,888,889 shares and a director and shareholder of Swiss Time Australia Pty. Ltd. which owns 268,750 shares. Mr. van der Griend is considered the beneficial owner of 14,157,639 shares.TABLE

(7) David and Beverly Chalmers are trustees of the Broben Superannuation Fund which holds 13,230,354 shares.

NAME AND

PRINCIPAL POSITION

FISCAL

YEAR

ANNUAL

SALARY

COMPENSATION

BONUS/AWARDS

OTHER

COMPENSATION

ALL OTHER

Ronald Chapman,

President

2022

2021

$ 96,000(1)

$ 49,980(3)

$ 55,000

Philip Shiels,

Chief Financial Officer

2022

2021

$ 96,000(2)

$ 48,752(2)

$ 49,980(3)

--$ -

Graham Chappell,

Director

2022

2021

$ 21,000

$ -

$ 49,980(3)

$ 6,000(3)

Richard Lukso,

Former Chairman

2022

2021

-$ -

$ 49,980(3)

$ 6,000(3)

(81) ~~Reginald~~ ~~Edward~~Marketing ~~Gleeson~~fee, ispaid aor ~~trustee of Regsher Pty. Ltd. Superannuation Fund which owns 15,644,030 shares.~~accrued

15(2) Officers management fee, paid or accrued

~~ITEM~~(3) ~~13.~~Directors’ ~~CERTAIN~~fees ~~RELATIONSHIPS~~satisfied ~~AND~~with ~~RELATED~~share ~~TRANSACTIONS AND DIRECTOR INDEPENDENCE.~~issue

~~Ron~~ITEM ~~Chapman,~~12. ~~Graham~~SECURITY ~~Chappell,~~OWNERSHIP ~~and~~OF ~~Philip~~CERTAIN ~~Shiels~~BENEFICIAL ~~are~~OWNERS ~~directors~~AND ~~of the Company and directors of the Company's former subsidiary ASiQ Pty~~MANAGEMENT. ~~Ltd. ("ASiQ").~~

~~ASiQ~~The ~~provides~~following ~~technical~~table ~~support~~sets ~~for~~forth certain information as of the date of this Report regarding the beneficial ownership of the Company’s ~~business~~Common ~~jet~~Stock ~~program,~~by each officer and director of the Company and by each person who owns in excess of five percent of the ~~year~~Company’s ~~ended~~Common ~~June~~Stock ~~30,~~giving ~~2021,~~effect ~~received~~to athe ~~monthly~~exercise ~~retainer~~of ~~plus~~warrants ~~outgoings~~or options held by the named security holder.

Chapman International Pty. Ltd., of which Ron Chapman is a director and shareholder, was paid marketing and engineering service fees during the year ended June 30, 2021.

Name, Position and Address	Shares of Common Stock Beneficially Owned	Percentage of Shares Owned
Ronald J. Chapman (2) Chairmen, President and director 1 Bass Drive, Torquay, Vic., 3228 Australia	18,973,336	6.8%
Graham O. Chappell (3) Director 5 Marine Parade, Suite 2 St. Kilda, Vic., 3148, Australia	3,271,406	1.3%
Philip A. Shiels (4) Chief Financial Officer and director 88 Elgin Street Hawthorn, Vic., 3122 Australia	18,805,522	6.7%
Roman Lohyn (5) 5 Rothesay Avenue Brighton Vic., 3186 Australia	25,580,840	9.2%
Eric P. van der Griend (6) 100 Barkly St St Kilda, Vic., 3182 Australia	14,157,639	5.1%
Reginald Edward Gleeson (7) 57 Black St. Brighton Vic., 3186 Australia	16,981,532	6.1%
All the officers and directors as a group (3 persons)	41,407,264	14.9%

~~Shiels~~(1) Assumes ~~and Co.~~278, ~~of which Philip Shiels is the principal~~697,573 ~~was~~shares ~~paid~~of ~~management~~Common ~~fees~~Stock ~~during~~issued ~~the~~and ~~year ended June 30, 2021~~outstanding.

~~BizjetMobile LLC, the North and South American distributor for BizjetMobile services and systems, is 50% owned by ASiQ.~~14

~~The~~(2) Ronald ~~owner~~J. Chapman, President and a director of ~~Chapman~~the ~~Reid~~Company, owns 125,006 shares directly. Mr. Chapman is the ~~European~~managing director (president) and ~~Middle~~majority ~~East~~shareholder ~~distributor~~of ~~for~~Chapman ~~BizjetMobile~~International ~~services~~Pty. ~~and~~Ltd. ~~systems~~holds 6,307,000 shares and is ~~related~~the tocontrolling ~~Ron~~shareholder of ASIT Australia through which Mr. Chapman is the beneficial owner of 266,575 shares. Mr. Chapman holds the power of attorney for the trustee of the Research No.1 Trust which holds 9,774,755 Shares. Mr. Chapman is a trustee and a beneficiary of the Madanosaj Superannuation Fund which holds 2,500,000 shares.

~~Since~~(3) Graham ~~June~~O. 30Chappell, ~~2017,~~a director of the Company, ~~entered~~is ~~into~~the amanaging ~~license~~director ~~agreement~~(president) ~~with~~and ~~ASiQ,~~sole ~~under~~shareholder ~~which~~of ~~the~~Chappell ~~Company~~Salikin ~~granted~~Weil ~~ASiQ~~Associates Pty. Ltd. and is considered the ~~right~~beneficial toowner ~~develop~~of the 788,006 ~~manufacture~~Shares. Mr. Chappell is the sole shareholder of International Aviation Services Pty. Ltd. which owns 43,400 ~~market~~shares ~~and~~of ~~commercialize~~which Mr. Chappell is considered the ~~Company’s~~beneficial ~~intellectual~~owner. ~~property~~Mr. ~~for~~Chappell ~~global~~is ~~military~~a trustee and ~~government~~a ~~applications~~beneficiary of the Chappell Salikin Weil Associates Pty. Ltd. Staff Superannuation Fund which holds 2,797,000 shares.

~~ITEM~~(4) Philip 14A. ~~PRINCIPAL~~Shiels, ~~ACCOUNTANT~~Chief ~~FEES~~Financial ~~AND~~Officer ~~SERVICES~~and a director of the Company, holds the power of attorney for the trustee of the Research No. 2 Trust which holds 3,198,522 Shares. Mr. Shiels is a trustee and a beneficiary of the Shiels Superannuation Fund which holds 8,250,000 shares. Mr. Shiels is a trustee and a beneficiary of The Shiels Trust which holds 7,357,000 shares.

~~AUDIT~~(5) Roman ~~FEES~~Lohyn is a trustee of Mostyn Superannuation Fund which owns 25,460,840 shares, and a director of Sorcerer Pty. Ltd. which owns 120,000 shares.

~~Audit~~(6) Eric ~~fees~~P. ~~paid~~van toder BGriend Fis ~~Borgers~~a indirector ~~the~~and ~~fiscal~~shareholder ~~year~~of ~~ended~~Ocean ~~June~~View 30Investment Pty. Ltd. which owns 13,888,889 ~~2020~~shares and ~~June~~a ~~30,~~director ~~2021~~and ~~were~~shareholder ~~$30~~of Swiss Time Australia Pty. Ltd. which owns 268,~~000~~750 ~~and~~shares. ~~$33~~Mr. van der Griend is considered the beneficial owner of 14,~~500~~157,639 ~~respectively~~shares.

~~AUDIT-RELATED~~(7) Reginald ~~FEES~~Edward Gleeson is a trustee of Regsher Pty. Ltd. Superannuation Fund which owns 16,981,532 shares.

~~There~~ITEM ~~were~~13. noCERTAIN ~~fees~~RELATIONSHIPS ~~billed~~AND ~~for~~RELATED ~~services~~TRANSACTIONS ~~reasonably~~AND ~~related~~DIRECTOR ~~to the performances of the audit or review of our financial statements other than those disclosed under the caption Audit Fees for fiscal years 2020 and 2021~~INDEPENDENCE.

~~TAX~~Ron ~~FEES~~Chapman, Graham Chappell, and Philip Shiels are directors of the Company and directors of the Company’s former subsidiary ASiQ Pty. Ltd. (“ASiQ”).

NoASiQ ~~fees~~provides ~~have~~technical ~~been~~support ~~paid~~ for ~~income~~the ~~tax~~Company’s ~~return~~business ~~preparation~~jet program, and in the year ended June 30, 2022, received a monthly retainer plus outgoings.

~~ALL~~Chapman ~~OTHER~~International ~~FEES~~Pty. Ltd., of which Ron Chapman is a director and shareholder, was paid marketing fees during the year ended June 30, 2022.

~~There~~Shiels ~~were~~and noCo., ~~other~~of which Philip Shiels is the principal, was paid management fees ~~filled~~during ~~for~~the ~~services~~year ended June 30, 2022.

~~ITEM~~BizjetMobile ~~15.~~LLC, ~~EXHIBITS~~the ~~AND~~North ~~FINANCIAL~~and ~~STATEMENT~~South ~~SCHEDULES~~American distributor for BizjetMobile services and systems, is 50% owned by ASiQ.

~~(a)~~Barry ~~Exhibits~~Chapman, the European and Middle East distributor for BizjetMobile services and systems, is related to Ron Chapman.

Exhibit No.	Description
31.1	Certification of the President under Rule 13a-14(a) (Section 302 of the Sarbanes-Oxley Act of 2002)
31.2	Certification of the Chief Financial Officer under Rule 13a-14(a) (Section 302 of the Sarbanes-Oxley Act of 2002)
32.1	Certification Pursuant To Section 906 Of The Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350)
32.2	Certification Pursuant To Section 906 Of The Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350)

Since June 30, 2017, the Company entered into a license agreement with ASiQ, under which the Company granted ASiQ the right to develop, manufacture, market and commercialize the Company’s intellectual property for global military and government applications.

16ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

~~SIGNATURES~~AUDIT FEES

~~Pursuant~~Audit tofees ~~the~~paid ~~requirements~~to ofB ~~Section~~F 13Borgers orin ~~15(d) of~~ the ~~Securities~~fiscal ~~Exchange~~year ~~Act~~ended ofJune ~~1934~~30, ~~the~~2021 ~~registrant~~and ~~has~~June ~~duly~~30, ~~caused~~2022 ~~this~~were ~~report~~$33,500 toand be$33,500 ~~signed on its behalf by the undersigned thereunto duly authorized~~respectively.

~~AS-IP TECH, INC.~~15

~~Dated:~~AUDIT-RELATED ~~October 6, 2021~~FEES

~~By: /s/~~There ~~Ronald~~were J.no ~~Chapman~~fees billed for services reasonably related to the performances of the audit or review of our financial statements other than those disclosed under the caption Audit Fees for fiscal years 2021 and 2022.

~~President~~TAX FEES

~~By: /s/~~No ~~Philip~~fees A.have ~~Shiels~~been paid for income tax return preparation.

~~Principal~~ALL ~~Financial~~OTHER ~~Officer~~FEES

~~Pursuant~~There towere ~~the~~no ~~Securities~~other ~~Exchange~~fees ~~Act~~filled offor ~~1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated~~services.

Signature	Title	Date
/s/ Ronald J. Chapman	Chairman and Director	October 6, 2021
Ronald J. Chapman
/s/ Graham O. Chappell	Director	October 6, 2021
Graham O. Chappell
/s/ Philip A. Shiels	Director	October 6, 2021
Philip A. Shiels

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

17(a) Exhibits

Exhibit No.	Description
31.1	Certification of the President under Rule 13a-14(a) (Section 302 of the Sarbanes-Oxley Act of 2002)
31.2	Certification of the Chief Financial Officer under Rule 13a-14(a) (Section 302 of the Sarbanes-Oxley Act of 2002)
32.1	Certification Pursuant To Section 906 Of The Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350)
32.2	Certification Pursuant To Section 906 Of The Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350)

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AS-IP TECH, INC.

Dated: October 12, 2022

By: /s/ Ronald J. Chapman

President

By: /s/ Philip A. Shiels

Principal Financial Officer

Pursuant to the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature	Title	Date

/s/ Ronald J. Chapman	Chairman and Director	October 12, 2022
Ronald J. Chapman


/s/ Graham O. Chappell	Director	October 12, 2022
Graham O. Chappell


/s/ Philip A. Shiels	Director	October 12, 2022
Philip A. Shiels

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