This quarterly report on Form 10-Q 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.

The following discussion should be read in conjunction with the Company's Form 10-K for the fiscal year ended June 30, 2022.





OVERVIEW

The Company's inflight connectivity technology is targeted at two distinct markets. BizjetMobile and CrewX are designed for business jets and has been sold in North America, Europe and the Middle East. The Company's fflya system is designed for, and marketed to, low-cost airlines in Europe and Asia. Further details of BizjetMobile and fflya are included in the Form10-K for the year ended June 30, 2022.

As noted above, the Company's arrangements in regard to BizjetMobile have been re-negotiated and as a result, revenue has re-commenced in the quarter ended September 30, 2022.

The Company has continued investing in the development and marketing of the airline versions of its fflya and CrewX technology. As previously noted, the Company has secured its launch fleet, Wizz Air Hungary Airlines Limited, to provide its fflya system for 19 of its United Kingdom based A320 and A321 aircraft for a minimum three years under a previously agreed revenue sharing arrangement.





RESULTS OF OPERATIONS

THREE MONTHS ENDED SEPTEMBER 30, 2022 COMPARED TO THREE MONTHS ENDED SEPTEMBER 30, 2021

In the three months period ended September 30, 2022, the Company recorded revenue of $23,894, compared to revenue of $0 in the corresponding three-month period ended September 30, 2021, as the Company received the first commissions under the new license arrangements with ASiQ Pty. Ltd.

The Company incurred operating costs of $231,057 in the three months ended September 30, 2022 and $203,214 in the three months ended September 30, 2021. Main components are engineering, installation, technical support and marketing expenses. In the three months ended September 30, 2022, the Company recorded an operating loss of $207,163 compared to an Operating Loss of $203,214 in the three months ended September 30, 2021.

The development and marketing costs have been funded in part through interest bearing convertible notes. As a result, the Company's Other Expenses, included interest of $72,360 in the three months ended September 30, 2022, compared to interest cost of $87,020 in the three months ended September 30, 2021. The decreased expense was a result of some of the convertible notes being replaced with shares of the Company's common stock, effective June 30, 2022. After interest costs, the Company recorded a Net Losses of $279,523 and $290,234 in the three months ended September 30, 2022 and 2021 respectively.

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LIQUIDITY AND CAPITAL RESOURCES

The Company's primary sources of liquidity are cash received from issue of common stock and accounts payable for expenses incurred with related parties. Without the continuation of these sources of funding, as stated in Note 2 above, the Company's ability to continue as a going concern is in substantial doubt. This will continue until the company is able to generate sufficient cash flow from its operations.

The cash and cash equivalents balance was $5,080 at September 30, 2022. The Company reported revenue of $23,894 in the three months ended September 30, 2022 compared to $0 in the three month period ended September 30, 2021 as a result of revenue from BizjetMobile re-commencing. The Company incurred a loss of $279,523 from operating activities for the three months to September 30, 2022, compared to a loss of $290,234 from operating activities for the three months to September 30, 2021. Net cash used in operating activities for the three months ended September 30, 2022 was $147,749 compared to $209,824 during the three months ended September 30, 2021. Operating cash requirement in the three months ended September 30, 2022 decreased mainly through higher related party payables.

The cash flow of the Company from financing activities for the three months ended September 30, 2022 was $44,731 as a result of funds received for common stock. In the three months ended September 30, 2021, the cash flow from financing activities was $315,057 mainly from funds received pending issue of common stock and increased loans.

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 or other funding sources. The Company does not have a policy on the amount of borrowing or debt that the Company can incur. There are no guarantees on the company's ability to raise additional capital and hence its ability to continue as a going concern.

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