Item 1.01 Entry into a Material Definitive Agreement.

As indicated in the Company's 10-K filing for the year ended June 30, 2022, the Company has been renegotiating it's arrangements with ASiQ Pty. Ltd. ("ASiQ"), the original developers of the Company's BizjetMobile technology, who have developed the airline version of the technology, designated "fflya".

On October 24, 2022, AS-IP Tech, Inc. (ASIP) signed a new License Agreement with ASiQ, the terms of which are:



1. ASIP appointed ASiQ to develop, manufacture and support ASIP for the fflya
program including development of customized hardware and software, on
commercial terms acceptable to ASIP and ASiQ.
2. ASIP will pay all costs incurred by ASiQ and its technical team on behalf of
ASIP, relevant to the fflya program.
3. ASiQ agreed to secure the services of Mr Ron Chapman, together with his
technical and marketing teams, for the future development and commercialization
of fflya.
4. ASIP granted ASiQ the exclusive right to develop, manufacture and
commercialize BizjetMobile, and ASiQ agreed to pay ASIP a 20% commission based
on the published wholesale price of BizjetMobile systems. For any other
products created from ASIP's intellectual property, ASIP will receive a
commission based on the net revenue received by ASiQ.
5. Should ASIP be restructured, sold or its business assigned, then the
BizjetMobile and non-airline products created, developed and distributed by
ASIQ, will remain the sole unencumbered property of ASiQ and this Agreement
will be terminated.

The Company's directors, Mr Ron Chapman, Mr Graham Chappell and Mr Philip Shiels, are directors and shareholders of ASiQ.

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