Quarterly Report (10-q)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2015

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934

For the transition period from ____ to _____

Commission file number 000-27881

AS-IP TECH, INC.

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

Delaware

522101695

(State or other jurisdiction of

incorporation or organization)

(IRS Employer Identification No.)

Suite 3, Level 7, 24 Collins Street

Melbourne, Victoria, 3000, Australia

(Address of principal executive officers)

+1 424-888-2212

(Issuer's telephone number)

_________________

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 [X] No [ ]

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 [ ]

(do not check if a smaller reporting company)

Smaller reporting company [X]

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

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be filed by Section l2, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes [X] No [ ]

APPLICABLE ONLY TO CORPORATE ISSUERS

As of February 10, 2015, there were 92,457,204 outstanding shares of the issuer's Common Stock, $0.0001 par value.

AS-IP TECH, INC.

FORM 10-Q

FOR THE QUARTER ENDED DECEMBER 31, 2015


PART I. FINANCIAL INFORMATION	3
ITEM 1. FINANCIAL STATEMENTS	3
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	9
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	10
ITEM 4. CONTROLS AND PROCEDURES	10
PART II. OTHER INFORMATION	11
ITEM 1 LEGAL PROCEEDINGS	11
ITEM 1A. RISK FACTORS	11
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	11
ITEM 3. DEFAULTS UPON SENIOR SECURITIES	11
ITEM 4. MINE SAFETY DISCLOSURES	11
ITEM 5. OTHER INFORMATION	11
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K	11
SIGNATURES	12

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

AS-IP TECH, INC.

BALANCE SHEETS


	(Unaudited)		(Audited)
	December 31, 2015		June 30, 2015
ASSETS
Current Assets
Cash	$	4,558	$	222
Accounts receivable		578		13,438

Total current assets		5,136		13,660

Intangible assets, net		-		-

Total assets	$	5,136	$	13,660

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts payable and accrued expenses	$	6,227	$	7,281
Related party payables		286,811		268,670
Due to related parties		228,811		228,811
Loans		52,538		39,297

Total current liabilities		574,387		544,059

Total liabilities		574,387		544,059

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 shares authorized; 90,944,704 and 92,457,204 shares issued and outstanding, respectively		9,246		9,094
Additional paid-in capital		8,495,439		8,464,091
Subscriptions payable		91,380		91,380
Treasury stock - par value (50,000 shares)		(5)		(5)
Accumulated deficit		(9,165,311)		(9,094,959)

Total stockholders' deficit		(569,251)		(530,399)

Total liabilities and stockholders' deficit	$	5,136	$	13,660

The accompanying notes are an integral part of these financial statements.

AS-IP TECH, INC.

STATEMENTS OF OPERATIONS

(UNAUDITED)


	Three Months Ending Dec 31, 2015	Three Months Ending Dec 31, 2014	Six Months Ending Dec. 31, 2015	Six Months Ending Dec. 31, 2014
Revenue
License and management fees	336	3,045	1,239	5,663
Service fees	11,491	-	11,491	19,517
Total Revenue	11,827	3,045	12,730	25,180

Less Cost of sales	3,893	-	3,893	19,735

Gross Profit	7,934	3,045	8,837	5,445

Expenses
Accounting and auditing	1,620	3,120	12,420	15,000
Banking	195	-	215	523
Capital raising costs	-	-	28,000	-
Corporate administration	1,259	8,758	2,525	17,539
Corporate promotion	0	384	0	784
Interest	2,758	-	4,627	-
Officers management fees	15,000	15,000	30,000	30,000
Office expenses, rent, utilities	1,048	561	1,193	1,486
Patent fees	-	-	209	264
Total expenses	21,880	27,823	79,189	65,596

Net loss	(13,946)	(24,778)	(70,352)	(60,151)

Net loss per share, basic	(0.00)	(0.00)	(0.00)	(0.00)

Weighted average number of common shares outstanding	92,457,204	86,348,704	91,953,037	86,348,704

The accompanying notes are an integral part of these financial statements.

AS-IP TECH, INC.

STATEMENTS OF CASH FLOWS

(UNAUDITED)


	Six Months Ending Dec. 31,
	2015		2014

Cash flows from operating activities:
Net loss	$	(70,352)	$	(60,151)
Adjustments to reconcile net loss to net cash
used by operating activities:
Compensatory stock issuances - accounts payable		28,000
Changes in operating assets and liabilities
Increase (Decrease) in accounts payable		2,590		(2,517)
Increase (Decrease) in related party payables		18,141		30,272
Decrease (Increase) in accounts receivable		9,216		1,037

Net cash used in operating activities		(12,405)		(31,359)

Cash flows from financing activities:
Advances from unrelated party		13,241		50,000
Proceeds from issuance of common stock		3,500		0

Net cash provided by financing activities		16,741		50,000

Net Increase/(Decrease) in cash		4,336		18,641
Cash, beginning of period		222		12,348

Cash, end of period	$	4,558	$	30,989

Supplemental disclosure of non-cash information
Stock issued for payables conversion	$	28,000	$	-

The accompanying notes are an integral part of these financial statements.

AS-IP TECH, INC.

NOTES TO FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2015

(UNAUDITED)

Note 1. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited financial statements of the Company have been prepared in accordance with Generally Accepted Accounting Principles used in the United States of America and with the rules and regulations of the United States Securities and Exchange Commission for interim financial information. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position and results of operations.

The functional currency of the Company is the United States dollar. The unaudited financial statements are expressed in United States dollars. It is management's opinion that any material adjustments (consisting of normal recurring adjustments) have been made which are necessary for a fair financial statement presentation. The results for the interim period are not necessarily indicative of the results to be expected for the year.

For further information, refer to the financial statements and footnotes included in the Company's Form 10-K/A for the year ended June 30, 2015.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the 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.

Such estimates and assumptions impact, among others, the valuation allowance for deferred tax assets, due to continuing and expected future losses, and share-based payments.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.

Per Share Data

Net loss per common share is computed by dividing net loss by the weighted average common shares outstanding during the period as defined by Financial Accounting Standards, ASC Topic 260, "Earnings per Share". Basic earnings per common share ("EPS") calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation.

Cash and cash equivalents:

For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

Income taxes

The Company accounts for its income taxes in accordance with FASB ASC Topic 740-10, "Income Taxes", which requires recognition of deferred tax assets and liabilities for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

Fair value of financial instruments:

The carrying value of cash equivalents and accounts payable and accrued expenses approximates fair value due to the short period of time to maturity.

Revenue Recognition

The Company recognizes revenue on an accrual basis. Revenue is generally realized or realizable and earned when all of the following criteria are met: 1) persuasive evidence of an arrangement exists between the Company and our customer(s); 2) services have been rendered; 3) our price to our customer is fixed or determinable; and 4) collectability is reasonably assured.

Long-lived Assets

In accordance with the Financial Accounting Standards Board ("FASB") Accounts Standard Codification (ASC) ASC 360-10, "Property, Plant and Equipment," the carrying value of intangible assets and other long-lived assets is reviewed on a regular basis for the existence of facts or circumstances that may suggest impairment. The Company recognizes impairment when the sum of the expected undiscounted future cash flows is less than the carrying amount of the asset. Impairment losses, if any, are measured as the excess of the carrying amount of the asset over its estimated fair value. Capitalized costs are amortized based on current and future revenue for each asset with an annual minimum equal to the straight-line amortization over the remaining estimated economic life of the asset.

Stock-based compensation

The Company records stock based compensation in accordance with the guidance in ASC Topic 718, which requires the Company to recognize expenses related to the fair value of its employee stock option awards. This eliminates accounting for share-based compensation transactions using the intrinsic value and requires instead that such transactions be accounted for using a fair-value-based method. The Company recognizes the cost of all share-based awards on a graded vesting basis over the vesting period of the award.

ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505.

Recent pronouncements

Recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not, or are not believed by management to, have a material impact on the Company's present or future financial position, results of operations or cash flows.

Note 2. Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company had an Accumulated Deficit of $9,165,311 at December 31, 2015 and will be required to make significant expenditures in connection with development of the SafeCell intellectual property, seeking addition funding through investments and general and administrative expenses. The Company's ability to continue its operations is dependent upon its raising of capital through debt or equity financing in order to meet its working capital needs.

These conditions raise substantial doubt about the Company's ability to continue as a going concern, and if substantial additional funding is not acquired or alternative sources developed, management will be required to curtail its operations.

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 provides the additional opportunity for the Company to continue as a going concern. However, there is no assurance of additional funding being available or on acceptable terms, if at all. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

Note 3. Related Party Transactions

As of December 31, 2015 and June 30, 2015, the Company has recorded as "related party payables", $286,811 and $268,670, respectively, which are due mainly to advances made by the CEO to pay for operating expenses.

As of December 31, 2015 and June 30, 2015, the Company had "due to related parties" of $228,811 and $228,811 respectively which are advances made by related parties to provide capital and outstanding directors fees. These amounts are non-interest bearing, unsecured and due on demand.

The Company in the three months ending December 31, 2015 and in the three months ended December 31, 2014 incurred expenses of approximately $15,000 and $15,000 respectively to entities affiliated through common stockholders and directors for management expenses. These expenses have been classified as officer’s management fees in the accompanying financial statements. Amounts payable and due to related parties remain as a liability until paid with cash or settled with shares of stock. These amounts are non-interest bearing, unsecured and due on demand.

Note 4. Stockholders' Deficit

During the three month period ended December 31, 2015, the Company did not issue any shares of common stock.

Note 5. Commitments and Contingencies

The Company has an outstanding loan arrangement with a third party, with balance outstanding at December 31, 2015 of $52,538 (December 31, 2014 $50,000). Interest is calculated at a rate of 20% with increasing monthly principal and interest payments. Payments due in the 12 months ended December 31, 2016 will total $18,750 and the balance due over the following 3 years.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

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 accompanying financial statements for the three month period ended December 31, 2015 and the Form 10-K/A for the fiscal year ended June 30, 2015.

RESULTS AND PLAN OF OPERATIONS

THREE MONTHS ENDED DECEMBER 31, 2015 COMPARED TO THREE MONTHS ENDED DECEMBER 31, 2014

In the three month period ended December 31, 2015, the Company recorded revenue of $11,827, compared to revenue of $3,045 in the corresponding three month period ended December 31, 2014. The increased revenue resulted from cancellation of the Company’s licensee for its intellectual property to ASiQ Limited effective November 1, 2015 and the Company assuming distribution of the BizjetMobile products. After Cost of Sales of $3,893, the Company had a Gross Profit of $7,934 in the three months ended December 31, 2015. In the three months ended December 31, 2014, the Company recorded Cost of Sales of nil, which resulted in a Gross Profit of $3,045.

Expenses in the three months ended December 31, 2015, decreased to $21,880 from $27,823 in the three months ended December 31, 2014 due mainly to lower corporate administration costs but after higher interest costs.

The Company had a net loss of $13,946 in the three month period ended December 31, 2015 compared to a net loss of $24,778 in the three month period ended December 31, 2014.

SIX MONTHS ENDED DECEMBER 31, 2015 COMPARED TO THREE MONTHS ENDED DECEMBER 31, 2014

In the six month period ended December 31, 2015, the Company recorded revenue of $12,730, compared to revenue of $25,180 in the corresponding six month period ended December 31, 2014. The decreased revenue reflected the changed nature of the operations of the Company. The six month period ended December 31, 2014 included revenue from managing the billing of BizjetMobile services on behalf of ASiQ Limited, an arrangement that was terminated effective September 30, 2014. Under new arrangements, the Company has cancelled the license for its intellectual property to ASiQ Limited effective November 1, 2015 and the Company has assumed distribution of the BizjetMobile products. As a result, the Company recorded two months of revenue form BizjetMobile in the six months ended December 31, 2015. After Cost of Sales of $3,893, the Company had a Gross Profit of $8,837 in the six months ended December 31, 2015. In the six months ended December 31, 2014, the Company recorded Cost of Sales of $19,733, which resulted in a Gross Profit of $5,445.

Expenses in the six months ended December 31, 2015, increased to $79,189 from $65,596 in the six months ended December 31, 2014 due mainly to higher capital raising and interest costs but after lower corporate administration costs.

The Company had a net loss of $70,352 in the six month period ended December 31, 2015 compared to a net loss of $60,151 in the six month period ended December 31, 2014.

LIQUIDITY AND CAPITAL RESOURCES

The cash and cash equivalents balance increased from $222 at July 1, 2015 to $4,558 at December 31, 2015.

The Company reported revenue of $12,730 in the six months ending December 31, 2015 compared to $25,180 in the six month period ending December 31, 2014. The Company incurred a net loss of $70,352 from operating activities for the period July 1, 2015 to December 31, 2015, compared to a net loss of $60,151 from operating activities for the period July 1, 2014 to December 31, 2014. Cash used in operating activities decreased to $12,405 during the six months ended December 31, 2015 from $31,359 for the six months ended December 31, 2014 due to capital raising costs met from compensatory stock issue.

The cash flow of the Company from financing activities for the three months ending December 31, 2015 was $16,741 as a result of a non-related loan and proceeds from issue of common stock, compared to $50,000 from a non-related loan in the six months ending December 31, 2014.

The Company's plan for its intellectual property will require funding for marketing and to set up further license arrangements.

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.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable

ITEM 4. CONTROLS AND PROCEDURES

(a) Evaluation of disclosure controls and procedures.

Our management, including the Company's Chief Executive Officer/Principal Financial Officer, and the Company's President, have evaluated the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a- 15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) as of the end of the period covered by this Quarterly Report on Form 10-Q.

Based upon that evaluation, our management concluded that our disclosure controls and procedures as of the end of the period covered by this report are adequate and effective such that the information required to be disclosed by us in the reports filed under the Securities Exchange Act of 1934 is (i) recorded, processed, summarized and reported within the time periods specified in SEC's rules and forms and (ii) accumulated and communicated to our management to allow timely decisions regarding disclosure. A controls system cannot provide absolute assurance however, that the effectiveness of the controls system are met and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud if any, within a company have been detected.

(b) Changes in internal controls.

The Company's management, including the Chief Executive Officer/Principal Financial Officer, and President, evaluated whether any changes in our internal controls over financial reporting, occurred during the quarter ended December 31, 2015. Based on that evaluation, our management concluded that no change occurred in the Company's internal controls over financial reporting during the quarter ended December 31, 2015 that has materially affected, or is reasonably likely to materially affect, the Company's internal controls over financial reporting.

PART II. OTHER INFORMATION

ITEM 1 LEGAL PROCEEDINGS

None

ITEM 1A. RISK FACTORS

The Company is a smaller reporting company and is not required to provide this information.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the three months ended December 31, 2015, the Company has not issued any shares of common stock.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. MINE SAFETY DISCLOSURES

None

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits:


Exhibit No.	Description
31.1	Certification of the Chief Executive Officer 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)

(b) Reports on Form 8-K was filed in the quarter ended December 31, 2015:

(1) Form 8-K filed November 2, 2015.

The Company has advised ASiQ Limited ("ASiQ"), the licensee of the Company’s SafeCell intellectual property, that the License Agreement dated May 29, 2008 is to be terminated immediately, and ASiQ has agreed to the termination. Under the Agreement, ASiQ had the right to develop, manufacture and market the SafeCell intellectual property and ASiQ was to pay the Company a Royalty Fee of 10% of the revenue generated by SafeCell and received by ASIQ. The Company will pay ASiQ a termination fee of $450,000 on terms to be agreed.

As a result of the termination, the Company will now control 100% of its intellectual property.

The directors of the Company retain shareholdings in ASiQ and three of the Company’s directors, Mr Ron Chapman, Mr Graham Chappell and Mr Philip Shiels, are directors of ASiQ.

SIGNATURES

In accordance with the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AS-IP TECH, INC.


SIGNATURE	TITLE	DATE

By: /s/ Ronald J. Chapman	Director	February 10, 2016

By: /s/ Philip A. Shiels	Director	February 10, 2016

By: /s/ Graham O. Chappell	Director	February 10, 2016

EX-31.1

CERTIFICATIONS OF CEO PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT

OF 2002

I, Philip A. Shiels, certify that:

1. I have reviewed this quarterly report on Form 10-Q of AS-IP Tech, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: February 10, 2016

/s/ Philip A. Shiels

Philip A. Shiels

Chief Executive Officer

EX-31.2

CERTIFICATIONS OF CFO PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT

OF 2002

I, Philip A. Shiels, certify that:

1. I have reviewed this quarterly report on Form 10-Q of AS-IP Tech, Inc.;

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: February 10, 2016

/s/ Philip A. Shiels

Philip A. Shiels

Chief Financial Officer

EX 32.1

CERTIFICATION PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

(18 U.S.C. SECTION 1350)

In connection with the Quarterly Report of AS-IP Tech, Inc., a Delaware corporation (the "Company"), on Form 10-Q for the period ending December 31, 2015, as filed with the Securities and Exchange Commission (the "Report"), Philip A. Shiels, Chief Executive Officer of the Company does hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350), that to his knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

/s/ Philip A. Shiels

Philip A. Shiels

Chief Executive Officer

February 10, 2016

[A signed original of this written statement required by Section 906 has been provided to AS-IP Tech, Inc. and will be retained by AS-IP Tech, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.]

EX 32.2

CERTIFICATION PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

(18 U.S.C. SECTION 1350)

In connection with the Quarterly Report of AS-IP Tech, Inc., a Delaware corporation (the "Company"), on Form 10-Q for the period ending December 31, 2015, as filed with the Securities and Exchange Commission (the "Report"), Philip A. Shiels, Chief Financial Officer of the Company does hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350), that to his knowledge:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

/s/ Philip A. Shiels

Philip A. Shiels

Chief Financial Officer

February 10, 2016

Document and Entity Information	6 Months Ended
Document and Entity Information	Dec. 31, 2015 shares
Document and Entity Information
Entity Registrant Name	AS-IP TECH INC
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Entity Central Index Key	0001067873
Current Fiscal Year End Date	--06-30
Entity Common Stock, Shares Outstanding	92,457,204
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Trading Symbol	asiq

BALANCE SHEETS - USD ($)	Dec. 31, 2015	Jun. 30, 2015
CURRENT ASSETS
Cash	$ 4,558	$ 222
Accounts receivable	578	13,438
Total current assets	5,136	13,660
TOTAL ASSETS	5,136	13,660
CURRENT LIABILITIES
Accounts payable and accrued expenses	6,227	7,281
Related party payables	286,811	268,670
Due to related parties	228,811	228,811
Loans	52,538	39,297
Total current liabilities	574,387	544,059
Total liabilities	$ 574,387	$ 544,059
STOCKHOLDERS' DEFICIT
Preferred stock value
Common stock value	$ 9,246	$ 9,094
Additional paid-in capital	8,495,439	8,464,091
Subscriptions payable	91,380	91,380
Treasury stock value	5	5
Accumulated deficit	(9,165,311)	(9,094,959)
Total stockholders' deficit	(569,251)	(530,399)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 5,136	$ 13,660

BALANCE SHEETS (parenthetical) - $ / shares	Dec. 31, 2015	Jun. 30, 2015
Balance Sheet
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	92,457,204	90,994,704
Common stock, shares outstanding	92,457,204	90,994,704
Treasury stock, shares	50,000	50,000

STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
REVENUE:
License and management fees	$ 336	$ 3,045	$ 1,239	$ 5,663
Service fees	11,491		11,491	19,517
Total revenue	11,827	3,045	12,730	25,180
Cost of sales	3,893		3,893	19,735
Gross profit	7,934	3,045	8,837	5,445
EXPENSES:
Accounting auditing	1,620	3,120	12,420	15,000
Banking	195		215	523
Capital raising costs			28,000
Corporate administration	1,259	8,758	2,525	17,539
Corporate promotion		384		784
Interest	2,758		4,627
Officer management fees	15,000	15,000	30,000	30,000
Office expenses, rent, utilities	1,048	561	1,193	1,486
Patent fees			209	264
Total expenses	21,880	27,823	57,310	37,774
Net loss	$ (13,946)	$ (24,778)	$ (70,352)	$ (60,151)
Net loss per share, basic	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average number of shares outstanding, basic	92,457,204	86,348,704	91,953,037	86,348,704

STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended
STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net loss	$ (13,946)	$ (24,778)	$ (70,352)	$ (60,151)
Adjustments to reconcile net loss to net cash provided by operating activities:
Compensatory stock issuances - accounts payable			28,000
Changes in operating assets and liabilities:
Increase (decrease) in accounts payable			2,590	(2,517)
Increase (decrease) in related party payables			18,141	30,272
(Increase) decrease in accounts receivable			9,216	1,037
Net cash used in operating activities			(12,405)	(31,359)
Cash flows from financing activities:
Advances from unrelated party			13,241	50,000
Proceeds from issuance of common stock			3,500
Net cash provided by financing activities			16,741	50,000
Net increase (decrease) in cash			4,336	18,641
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			222	12,348
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 4,558	$ 30,989	4,558	$ 30,989
Supplemental disclosure of cash flow information:
Shares issued for payables conversions			$ 28,000

Summary of Significant Accounting Policies

6 Months Ended

Dec. 31, 2015

Notes

Summary of Significant Accounting Policies

Note 1. Summary of Significant Accounting Policies

Basis of Presentation

For further information, refer to the financial statements and footnotes included in the Company's Form 10-K/A for the year ended June 30, 2015.

Use of Estimates

Such estimates and assumptions impact, among others, the valuation allowance for deferred tax assets, due to continuing and expected future losses, and share-based payments.

Per Share Data

Cash and cash equivalents:

For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

Income taxes

Fair value of financial instruments:

The carrying value of cash equivalents and accounts payable and accrued expenses approximates fair value due to the short period of time to maturity.

Revenue Recognition

Long-lived Assets

Stock-based compensation

Recent pronouncements

Going Concern Disclosure

6 Months Ended

Dec. 31, 2015

Notes

Going Concern Disclosure

Note 2. Going Concern

Related Party Transactions

6 Months Ended

Dec. 31, 2015

Notes

Related Party Transactions

Note 3. Related Party Transactions

Stockholders' Deficit Disclosure

6 Months Ended

Dec. 31, 2015

Notes

Stockholders' Deficit Disclosure

Note 4. Stockholders' Deficit

During the three month period ended December 31, 2015, the Company did not issue any shares of common stock.

Commitments and Contingencies Disclosure

6 Months Ended

Dec. 31, 2015

Notes

Commitments and Contingencies Disclosure

Note 5. Commitments and Contingencies

Summary of Significant Accounting Policies: Basis of Presentation (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Basis of Presentation

For further information, refer to the financial statements and footnotes included in the Company's Form 10-K/A for the year ended June 30, 2015.

Summary of Significant Accounting Policies: Use of Estimates (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Use of Estimates

Such estimates and assumptions impact, among others, the valuation allowance for deferred tax assets, due to continuing and expected future losses, and share-based payments.

Summary of Significant Accounting Policies: Per Share Data (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Per Share Data

Summary of Significant Accounting Policies: Cash and Cash Equivalents Policy (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Cash and Cash Equivalents Policy

Cash and cash equivalents:

For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.

Summary of Significant Accounting Policies: Income Taxes Policy (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Income Taxes Policy

Income taxes

Summary of Significant Accounting Policies: Fair Value of Financial Instruments Policy (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Fair Value of Financial Instruments Policy

Fair value of financial instruments:

The carrying value of cash equivalents and accounts payable and accrued expenses approximates fair value due to the short period of time to maturity.

Summary of Significant Accounting Policies: Revenue Recognition Policy (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Revenue Recognition Policy

Revenue Recognition

Summary of Significant Accounting Policies: Long-lived Assets Policy (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Long-lived Assets Policy

Long-lived Assets

Summary of Significant Accounting Policies: Stock-based Compensation Policy (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Stock-based Compensation Policy

Stock-based compensation

Summary of Significant Accounting Policies: Recent Pronouncements (Policies)

6 Months Ended

Dec. 31, 2015

Policies

Recent Pronouncements

Recent pronouncements

Going Concern Disclosure (Details) - USD ($)	Dec. 31, 2015	Jun. 30, 2015
Details
Accumulated deficit	$ 9,165,311	$ 9,094,959

Related Party Transactions (Details) - USD ($)	3 Months Ended
Related Party Transactions (Details) - USD ($)	Dec. 30, 2015	Dec. 30, 2014	Dec. 31, 2015	Jun. 30, 2015
Details
Related party payables			$ 286,811	$ 268,670
Due to related parties			$ 228,811	$ 228,811
Expenses incurred from transactions with related parties	$ 15,000	$ 15,000