As-Ip Tech, Inc. Reports Earnings Results for the Third Quarter Ended March 31, 2020
September 16, 2020 at 10:26 am EDT
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AS-IP Tech, Inc. announced earnings results for the third quarter ended March 31, 2020. For the third quarter, the company announced total revenue was USD 3,838 compared to USD 8,224 a year ago. Operating loss was USD 162,225 compared to USD 178,671 a year ago. Net loss was USD 198,777 compared to USD 213,937 a year ago. For the nine months, total revenue was USD 41,137 compared to USD 62,694 a year ago. Operating loss was USD 512,218 compared to USD 467,456 a year ago. Net loss was USD 623,305 compared to USD 595,086 a year ago.
AS-IP Tech, Inc. owns a technology, which comprises two product lines called BizjetMobile and fflya. The products deliver inflight connectivity for business aviation and commercial airlines respectively. The Company sells its products through distributors of products and provides services through its intellectual property. The Company is engaged in development and marketing of airline versions of its fflya and CrewX technology. BizjetMobile and CrewX are designed for business jets and sold in North America, Europe and the Middle East. The Companyâs fflya system is designed for and marketed to airlines in Europe and Asia. 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 of three years. The Company has also secured a Supplemental Type Certificate (STC) for its Iridium Certus 100 platform, which is delivered to Wizz Air United Kingdom for installation.
AS-IP TECH, INC. 
