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 unaudited condensed financial statements for the nine months ended March 31, 2022 and the Form 10-K for the fiscal year ended June 30, 2021.





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.

As previously advised, the Company's arrangements with BizjetMobile are being re-negotiated, and as a result, no revenue has been taken up in the current financial year.

The Company has continued investing in the development and marketing of the airline versions of its fflya and CrewX technology. As per Note 6 above, 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.

Implementation of the Company's fflya program was delayed due to the impact of Covid19, which will necessitate further renegotiation of outstanding loans and debts, as well as raising additional funding.





RESULTS OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2022 COMPARED TO THREE MONTHS ENDED MARCH 31, 2021

In the three months period ended March 31, 2022, the Company recorded revenue of $0, compared to revenue of $27,779 in the corresponding three-month period ended March 31, 2021, as there were no system sales due to the impending release of the new Iridium Certus mid band internet solution, which will form the basis of an enhanced BizjetMobile service.

The Company incurred operating costs of $190,970 in the three months ended March 31, 2022 and $159,691 in the three months ended March 31, 2021. Main components are engineering, technical support and marketing expenses. In the three months ended March 31, 2022, the Company recorded an operating loss of $190,970 compared to an Operating Loss of $131,912 in the three months ended March 31, 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 and capital raising costs of $134,149 in the three months ended March 31, 2022, compared to interest cost of $47,460 in the three months ended March 31, 2021. This resulted in Net Losses of $325,119 and $179,372 in the three months ended March 31, 2022 and 2021 respectively.

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NINE MONTHS ENDED MARCH 31, 2022 COMPARED TO NINE MONTHS ENDED MARCH 31, 2021

In the nine month period ended March 31, 2022, the Company recorded revenue of $0, compared to revenue of $64,597 in the corresponding nine month period ended March 31, 2021, as there were no system sales due to the impending release of the new Iridium Certus mid band internet solution, which will form the basis of an enhanced BizjetMobile service.

The Company incurred operating costs of $888,955 in the nine months ended March 31, 2022 and $591,547 in the nine months ended March 31, 2021. Main components are engineering, technical support, marketing expenses and directors fees for two years. In the nine months ended March 31, 2022, the Company recorded an operating loss of $888,995 compared to an Operating Loss of $526,950 in the nine months ended March 31, 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 and capital raising costs of $466,322 and $131,112 in the nine months ended March 31, 2022 and 2021 respectively. This resulted in Net Losses of $1,355,277 and $658,062 in the nine months ended March 31, 2022 and 2021 respectively.

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 $134,074 at March 31, 2022 and $157,601 at June 30, 2021.

The Company reported revenue of $0 in the nine months ended March 31, 2022 compared to $64,597 in the nine month period ended March 31, 2021. The Company incurred a loss of $ 888,955 from operating activities for the nine months to March 31, 2022, compared to a loss of $526,950 from operating activities for the nine months to March 31, 2021. Net cash used in operating activities for the nine months ended March 31, 2022 was $1,027,490 compared to $300,813 during the nine months ended March 31, 2021. Operating cash requirement in the nine months ended March 31, 2022 increased mainly through higher marketing, engineering and technical support costs.

The cash flow of the Company from financing activities for the nine months ended March 31, 2022 was $1,093,963 as a result of funds received for common stock and issue of shares in lieu of interest payments. In the nine months ended March 31, 2021, the cash flow from financing activities was $455,476 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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