UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
Notification of Late Filing
CUSIP Number 00214P106
(Check One)
[ ] Form 10-K and Form 10-KSB
[ ] Form 20-F
[X] Form 10-Q and Form 10-QSB
[ ] Form N-SAR
For Period Ended: 12/31/18
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
Nothing in this Form shall be construed to imply that the
Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
PART I -- REGISTRANT INFORMATION
Full Name of Registrant: AS-IP TECH, INC.
Former Name if Applicable: ASI ENTERTAINMENT, INC.
Address of Principal Executive Office (Street and Number)
2/1 Contour Close
Research, Victoria, 3095, Australia
PART II -- RULES 12b-25(b) and (c)
If the subject report could not be filed without unreasonable effort and
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate):
[X] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[ ] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof will be filed
on or before the fifteenth calendar day following the prescribed due date;
or the subject quarterly report or transition report on Form 10-Q, or
portion thereof will be filed on or before the fifth calendar day following
the prescribed due date; and
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III -- NARRATIVE
State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be within the prescribed period.
The registrant is unable to file its Quarterly Report on Form 10-Q for the
period ended December 31, 2018, within the prescribed time period
because of delays in completing the accounts and audit.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Philip Shiels +1 424-888-2212
(2) Have all other periodic reports required under section 13 or 15(d)
of the Securities and Exchange Act of 1934 or Section 30 of the
Investment Company Act of 1940 during the preceding 12 months or for such
shorter period that the registrant was required to file such report(s)
been filed? If the answer is no, identify report(s).
( ) Yes (X) No, Form 10-K for the fiscal year ended June 30, 2018 and
Form 10-Q for the period ended September 30, 2018
(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected
by the earnings statements to be included in the subject report or portion
thereof?
(X) Yes ( ) No
If so, attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.
Following release of its new business jet product in November 2018, the
Companys agents have reported their first sales in Europe and North
America. Hardware sales of $29,970 were recorded in the 3 months ended
December 2018 compared to nil in the corresponding period in 2017. As a
result, the Company recorded total sales of $53,902 for the three month
period ended December 31, 2018 and gross profit of $34,220 compared to
sales of $25,244 and gross profit of $20,426 in the corresponding period in
2017.
Total operating expenses were $209,741 and $195,659 in the three months
ended December 31, 2018 and 2017 respectively.
Other expenses increased from $8,984 for the three months ended December
31, 2017 to $56,150 for the three months ended December 31, 2018 due to
capital raising costs and interest on convertible notes raised to fund its
airline program. The Company raised approximately $165,000 in the December
2018 quarter from a private placement to fund its airline program.
The Company expects to report a Net Loss of $231,671 for the three months
ended December 31, 2018 compared to a Net Loss of $184,218 in the
corresponding period in 2017.
AS-IP TECH, INC.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
DATE: February 14, 2019 By: Philip Shiels
Chief Financial Officer
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