AS-IP Tech Inc (IPTK)

[asiqlimited]

To bring you up to date, we completed the initial technical aspects of the Australian fund raising in early November. We appointed DH Flinders to handle the cap raise. Some initial funds have been received in December at A$ 7 cents (US$ equivalent 5cents.) Business jets also continue to contribute commissions to fund IPTK. As jan is our vacation period, not a lot will happen until early feb, which is ok for our program timing, as Feb to May is a key airline install window after the Xmas holiday peak period. I appreciate it is dragging out, but we are also renegotiating the existing convertible notes that expired 31/12, while trying to manage 3 airline programs that are in various launch and development stages. Just so you are aware, it would only take 1 x 10k and 2 x 10q’s to bring our reporting in order. We are continuing to maintain the documentation, but can’t justify that cost at the moment when our airline program funding is so important. All these things effect the final config for IPTK which hopefully will become much clearer in feb.