Global MobileTech, Inc.

 (Exact name of registrant as specified in charter)

1312 North Monroe, Suite 750

Spokane, Washington 99201

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number: (509) 723-1312

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 whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

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. (Check one):

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [   ]   No [X]

As of May 15, 2012, there were 6,716,991 shares of our common stock, $0.001 par value, issued and outstanding.

PRELIMINARY COMMENTS

As used in this report, the pronouns “we”, “us”, “our” and equivalent pronouns refer to Global MobileTech, Inc. and our consolidated subsidiaries.  As used in the financial statements which are a part of this report, the “Company” and “GMT” refers to Global MobileTech, Inc. and our consolidated subsidiaries. The pronoun “you” refers to the reader of this report. The pronoun “it” refers to the person, party or thing antecedent in the sentence or paragraph.

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

March 31, 2012 and 2011

Index to Consolidated Financial Statements

(Unaudited)

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3

4

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

General Organization and Business

Global MobileTech, Inc. (“Global MobileTech”, “GMT” or the “Company”) has focused on the provision of mobile voice over internet protocol (“VoIP”) communications and mobile advertising solutions and services since April 2010. In July 2010, we expanded into the renewable energy business to include (i) the provision of consultancy services for the design and integration of solar photovoltaic (“PV”)-wind hybrid power generation applications (ii) the production of synthetic gas (“syngas”), bio-oil and biochar using biomass such as wood residues, and oil palm stems and fronds as feedstock; and (iii) the establishment and operation of syngas-to-electricity generation plants. Our entry into the renewable energy business was intended to develop additional recurring revenue streams to complement our mobile VoIP communications and mobile advertising business segment.

Unaudited Interim Financial Statements

The interim consolidated financial statements of the Company as of March 31, 2012 and March 31, 2011 and for the three months and nine months ended March 31, 2012 and 2011 are unaudited. In the opinion of management, the interim consolidated financial statements include all adjustments (consisting solely of normal recurring adjustments) which are necessary for a fair statement of the Company’s financial position at March 31, 2012 and 2011 and the results of its operations and its cash flows for the nine months ended March 31, 2012 and 2011. These results are not necessarily indicative of the results expected for the fiscal year ending June 30, 2012. The accompanying financial statements and notes thereto do not reflect all disclosures required under accounting principles generally accepted in the United States of America (“GAAP”). Refer to the Company’s audited financial statements as of June 30, 2011, filed with the SEC for additional information, including significant accounting policies.

Basis of presentation

The financial information included herein is unaudited and has been prepared consistent with GAAP for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, these consolidated financial statements do not include all information and footnotes required by GAAP for complete consolidated financial statements. These notes should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended June 30, 2011. In the opinion of management, these interim consolidated financial statements include all adjustments (consisting solely of normal recurring adjustments) which are necessary for a fair statement of results for the interim period presented. The results of operations for the three months and nine months ended March 31, 2012 are not necessarily indicative of the results to be expected for the full year.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company, its wholly owned subsidiaries Trevenex Acquisitions, Inc. and Info-Accent Sdn Bhd (“Info-Accent”). All significant intercompany balances and transactions have been eliminated in consolidation.

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 2 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are stated at cost less depreciation. Property, plant and equipment consists of the following at March 31, 2012 and June 30, 2011.

The depreciation expense recorded was $431,784 and $99,488 for the nine months ended March 31, 2012 and 2011, respectively.

NOTE 3 – STOCKHOLDERS’ EQUITY

Common Stock

In July 2011, an existing stockholder exercised his warrant to purchase 2,000 unregistered shares of common stock at an exercise price of $1.00 per share resulting in gross proceeds to GMT of $2,000.  

On August 3, 2011, Info-Accent and Sunway Technology Development Limited (“Sunway”) executed a Supplemental Agreement to the Patent Purchase Agreement whereby Sunway agreed to receive 1,000,000 unregistered shares of common stock of the Company at $1.00 per share as full and final payment for the purchase price.  On August 5, 2011, the Company issued 1,000,000 restricted shares of its common stock to Sunway.

In August 2011, three existing stockholders exercised their warrants to purchase 51,435 unregistered shares of common stock at an exercise price of $1.00 per share resulting in gross proceeds to GMT of $51,435.

On December 15, 2011, the Company entered into a Patent and Technology License Agreement with Soon Hock Lim (“SHL”). The provisions of the Agreement require GMT to make a onetime only license fee payment to SHL in the amount of $600,000, within 30 days of the execution of the License Agreement. SHL agreed to accept 740,740 shares of GMT’s common stock at $0.54 per share for $400,000 in the aggregate and cash payment of $200,000, in lieu of the original payment of $600,000 due within thirty days. On December 29, 2011, the Company issued 740,740 restricted shares of its common stock to SHL.

On March 15, 2012, the Company awarded an aggregate of 270,000 shares of its common stock to its directors and officers at $0.30 per share. These stock awards were valued on the date that generated a total fair value of $81,000.

On March 23, 2012, the Company entered into an Amended Patent and Technology License Agreement (the “Amended License Agreement”) with SHL. The provisions of the Amended License Agreement required GMT to make an additional onetime only license fee payment to SHL in the amount of $450,000, within 60 days of the execution of the Amended License Agreement. SHL agreed to accept 1,000,000 shares of GMT’s common stock at $0.30 per share for $300,000 in the aggregate and cash payment of $150,000, in lieu of the original payment of $450,000 due within sixty days. On March 23, 2012, the Company issued 1,000,000 restricted shares of its common stock to SHL.

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 3 – STOCKHOLDERS’ EQUITY (Continued)

Stock Option Plan

On December 10, 2007, the Company’s Board of Directors approved the adoption of the “2007 Non-Qualified Stock Option and Stock Appreciation Rights Plan” (“2007 Plan”) by unanimous consent and approved by the shareholders on the same date. The 2007 Plan continues in effect for ten years unless terminated earlier. The 2007 Plan was initiated to encourage and enable officers, directors, consultants, advisors, and other key employees of the Company to acquire and retain a proprietary interest in the Company by ownership of its common stock. A total of 1,000,000 of the authorized shares of the Company’s common stock may be subject to, or issued pursuant to, the terms of the 2007 Plan. The 2007 Plan was filed as an exhibit to our Registration Statement on Form S-1 filed on July 16, 2008.

A summary of the status of the Company’s stock options at March 31, 2012 and 2011; and June 30, 2011; and changes during March 31, 2012 and 2011; and June 30, 2011 is presented below:

As of March 31, 2012 and 2011, stock options available for issuance under the 2007 Plan remained at 560,000.

The following table summarizes information about options outstanding at March 31, 2012 and 2011.

As of March 31, 2012 and 2011, these stock options were valued at 70% of the fair market value using the Black-Scholes option-pricing model that generated a total fair value of $122,937 and $86,696, respectively.

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 3 – STOCKHOLDERS’ EQUITY (Continued)

Warrants

A summary of the status of the Company’s warrants as of March 31, 2012 and 2011; and changes during 2012 and 2011 is presented below:

During the nine months ended March 31, 2012, four accredited investors exercised their warrants to purchase 53,435 shares of the Company’s common stock at $1.00 per share resulting in gross proceeds to the Company of $53,435. As of March 31, 2012, 116,812 warrants remained outstanding and were valued using Black-Scholes option-pricing model that generated a total fair value of $53,617. As of March 31, 2011, 170,247 warrants remained outstanding and were valued using Black-Scholes option-pricing model that generated a total fair value of $254,822.

NOTE 4 – INCOME TAXES

United States income tax

GMT and Trevenex Acquisitions, Inc. are incorporated in the State of Nevada and are subjected to United States of America tax laws.

The provision (benefit) for income taxes for the United States for the nine months ended March 31, 2012 and 2011, were as follows (assuming a 15 percent effective tax rate):

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 4 – INCOME TAXES (Continued)

United States income tax (Continued)

The Company had deferred income tax assets as of March 31, 2012 and June 30, 2011 as follows:

The Company provided a valuation allowance equal to the deferred income tax assets for the nine months ended March 31, 2012 and June 30, 2011, because it is not presently known whether future taxable income will be sufficient to utilize the loss carryforwards.

As of March 31, 2012 and June 30, 2011, the Company had approximately $789,991 and $276,697, respectively, in tax loss carryforwards that can be utilized in future periods to reduce taxable income, and will begin to expire in the year 2027.

Malaysia income tax

Info-Accent is registered and operates in Malaysia and is subject to Malaysian tax laws. The statutory income tax rate is 20%. Info-Accent provided a deferred income tax liability for the nine months ended March 31, 2012 due to the temporary differences from the excess of capital allowances over depreciation.

The income of the Company was derived from its activities in Malaysia. The entity in Malaysia is subject to file on an entity–by-entity basis. The provisions for the income tax liability of the Malaysian subsidiary for the nine months ended March 31, 2012 and June 30, 2011, respectively, are as follows:

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 5 – RELATED PARTY TRANSACTIONS

As of March 31, 2012, the Company owed Mohd. Aris Bernawi, the Chairman of the Company, $19,217. The amount due to Mr. Aris was to compensate the Chairman for out-of-pocket expenses incurred in carrying out his duties as Chairman and Director of the Company. This amount is unsecured, bears no interest and has no fixed terms of repayment.

As of March 31, 2012, the Company owed Valerie Hoi Fah Looi, the Secretary and Director of the Company, $44,361. The amount due to Ms. Looi was for general and administration expenses paid on behalf of the Company. This amount is unsecured, bears no interest and has no fixed terms of repayment.

NOTE 6 - SIGNIFICANT CONCENTRATION AND CREDIT RISK

Customer Concentration

For the period ended March 31, 2012 and 2011, four and four customers, respectively, accounted for the trade accounts receivable. Credit concentration in the form of accounts receivables at March 31, 2012 and 2011 were as follows:

Vendor Concentration

For the period ended March 31, 2012 and 2011, two and four vendors, respectively, accounted for cost of goods sold. The Company does not rely on any single vendor to provide services. It has made a strategic decision to engage the services of only a small number of vendors after taking into consideration the quality of service and competitive pricing offered. Should the need arise, the Company could utilize alternative vendors for the services required. Vendor concentration for the nine months ended March 31, 2012 and 2011 were as follows:

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 7 - SEGMENT INFORMATION

The Company manages its business and aggregates its operational and financial information in accordance with two operating segments; namely (i) mobile VoIP communications and mobile advertising; and (ii) renewable energy.

Although the Company is able to track revenues by sales channel, the management, allocation of resources, analysis and reporting of expenses is presented on a combined basis, at the reportable segment level. Contribution margin is defined as net revenue less cost of sales and total operating expenses.

The following table sets forth the revenue and percentage of revenue attributable to each of the Company's operating segments.

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 7 - SEGMENT INFORMATION  (Continued)

NOTE 8 – PATENT

On June 27, 2011, Info-Accent, a wholly owned subsidiary of GMT, entered into a Patent Purchase Agreement with Sunway Technology Development Limited (“Sunway”) to purchase the entire right, title and interest in and to the patent rights under U.S. patent # 8,005,057 entitled “Data communications between short-range enabled wireless devices over networks and proximity marketing to such devices” for a total consideration of $3.5 million. Pursuant to the Patent Purchase Agreement, Sunway received net payment of $3.0 million after setting off a sum of $0.5 million previously paid by Info-Accent to VyseTech Asia Sdn Bhd (a wholly owned subsidiary of Sunway) as a one-time license fee. The purchase consideration of $3.0 million was a combination of $2.0 million cash and issuance of 1.0 million unregistered shares of our common stock at $1.00 per share.

NOTE 9 - PATENT AND TECHNOLOGY LICENSE AGREEMENT

On December 15, 2011, GMT entered into a Patent and Technology License Agreement (the “License Agreement”) with Soon Hock Lim (“SHL”) pursuant to which SHL agreed to grant GMT non-exclusive licensing rights to use the proprietary technologies and claims under U.S. patent # 8,089,943 in Malaysia, China, Thailand, Philippines and Indonesia. The provisions of the agreement require GMT to make a onetime only license fee payment to SHL in the amount of $600,000, within thirty days of the execution of the License Agreement. In addition to the onetime only payment, we will be required to pay a royalty equivalent to one percent (1%) of GMT’s gross sales which will be due and payable on or before each anniversary of the effective date of the Agreement or a minimum royalty payment of $100,000 annually, whichever is the higher. The royalty will remain in perpetuity and continue to be paid beyond the life of any patent. SHL agreed to accept 740,740 shares of GMT common stock at $0.54 per share for $400,000 in the aggregate and cash payment of $200,000, in lieu of the original payment of $600,000 due within thirty days. On December 29, 2011, the Company issued 740,740 restricted shares of its common stock to SHL and as of March 31, 2012, the amount outstanding had been fully paid.

On March 23, 2012, GMT entered into an Amended Patent and Technology License Agreement (the “Amended License Agreement”) pursuant to the License Agreement signed on December 15, 2011 with SHL. Pursuant to the Amended License Agreement which SHL agreed to grant GMT additional non-exclusive licensing rights to use the proprietary technologies and claims under U.S. patent # 8,089,943 in Vietnam, India and Korea. The provisions of the agreement required GMT to make additional onetime only license fee payment to SHL in the amount of $450,000, within sixty days of the execution of the License Agreement. In addition to the onetime only payment, GMT will be required to pay a royalty equivalent to one percent (1%) of GMT’s gross sales which will be due and payable on or before each anniversary of the effective date of the Agreement or a minimum royalty payment of $100,000 annually, whichever is the higher. The royalty will remain in perpetuity and continue to be paid beyond the life of any patent. SHL agreed to accept 1,000,000 shares of GMT common stock at $0.30 per share for $300,000 in the aggregate and cash payment of $150,000, in lieu of the original payment of $450,000 due within sixty days. On March 23, 2012, the Company issued 1,000,000 restricted shares of its common stock to SHL. As of March 31, 2012, the Company still owed SHL $150,000.

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 10 – FOREIGN CURRENCY TRANSLATION

The functional currency of our foreign subsidiary, Info-Accent is Ringgit Malaysia (“RM”). Assets and liabilities are translated from RM into U.S. dollars at the exchange rates prevailing at the balance sheet date. Foreign currency income and expense are re-measured at average exchange rates in effect during the period. Exchange gains and losses arising from foreign currency transactions are included in operations in the period in which they occur. Foreign currency translations are included in other comprehensive income class.

The reporting currency of the Company is United States dollars ("US$"). In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, " Translation of Financial Statement ", using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.

Translation of amounts from RM into US$ has been made at the following exchange rates for the nine months ended March 31, 2012 and 2011:

NOTE 11 – RECENT ACCOUNTING PRONOUNCEMENTS

In May 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. ASU 2011-04 amends Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements (ASC 820) by: (1) clarifying that the highest-and-best-use and valuation-premise concepts only apply to measuring the fair value of non-financial assets; (2) allowing a reporting entity to measure the fair value of the net asset or net liability position in a manner consistent with how market participants would price the net risk position, if certain criteria are met; (3) providing a framework for considering whether a premium or discount can be applied in a fair value measurement; (4) providing that the fair value of an instrument classified in a reporting entity’s shareholders’ equity is estimated from the perspective of a market participant that holds the identical item as an asset; and (5) expanding the qualitative and quantitative fair value disclosure requirements. The expanded disclosures include, for Level 3 items, a description of the valuation process and a narrative description of the sensitivity of the fair value to changes in unobservable inputs and interrelationships between those inputs if a change in those inputs would result in a significantly different fair value measurement. ASU 2011-04 also requires disclosures about the highest-and-best-use of a non-financial asset when this use differs from the asset’s current use and the reasons for such a difference. In addition, this ASU amends Accounting Standards Codification 820, Fair Value Measurements, to require disclosures to include any transfers between Level 1 and Level 2 of the fair value hierarchy. These amendments are effective for fiscal years beginning after December 15, 2011 and for interim periods within those fiscal years. The amendments of ASU 2011-04, when adopted of the amended guidance are not expected to have a material impact on the Company’s consolidated financial statements.

In June 2011, the FASB issued ASU 2011-05, Presentation of Comprehensive Income. ASU 2011-05 requires entities to report components of comprehensive income in either (1) a continuous statement of comprehensive income or (2) two separate but consecutive statements. Under the two-statement approach, the first statement would include components of net income, and the second statement would include components of other comprehensive income. This ASU does not change the items that must be reported in other comprehensive income. These provisions are effective for fiscal years beginning after December 15, 2011 and for interim periods within those fiscal years; however, early adoption is permitted. The provisions of ASU 2011-05, when adopted, are not expected to have a material impact on the Company’s consolidated financial statements.

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2012 AND 2011

(Unaudited)

NOTE 11 – RECENT ACCOUNTING PRONOUNCEMENTS (Continued)

In September 2011, the FASB issued ASU 2011-08 to Topic 350, Intangibles - Goodwill and Other. ASU 2011-08 amends the guidance in ASC 350-20 on testing for goodwill impairment. The revised guidance allows entities testing for goodwill impairment to have the option of performing a qualitative assessment before calculating the fair value of the reporting unit. The ASU does not change how goodwill is calculated or assigned to reporting units, nor does it revise the requirement to test annually for impairment. The ASU is limited to goodwill and does not amend the annual requirement for testing other indefinite-lived intangible assets for impairment. The ASU is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. The amended guidance results in a change in the procedures for assessing goodwill impairment and will not have an impact on the Company’s financial position and results of operations.

In September 2011, the FASB issued amended ASU 2011-09, Compensation-Retirement- Benefit-Multiemployer Plans (Subtopic 715-80) relates to an employer’s participation in a multiemployer pension and other postretirement benefit plans to require that employers provide additional quantitative and qualitative disclosures for these types of plans. The amended guidance is effective for us on a retrospective basis commencing in the fourth quarter of 2012. Earlier adoption is permitted. The provisions of ASU 2011-09, when adopted, are not expected to have a material impact on the Company’s consolidated financial statements.

In December 2011, the FASB issued disclosure guidance ASU 2011-10, Property, Plant and Equipment (Topic 360) – Derecognition of in Substance Real Estate related to the offsetting of assets and liabilities. The guidance requires an entity to disclose information about offsetting and related arrangements for recognized financial and derivative instruments to enable users of its financial statements to understand the effect of those arrangements on its financial position. The amended guidance is effective for us on a retrospective basis commencing in the first quarter of 2014. The provisions of ASU 2011-10, when adopted, are not expected to have a material impact on the Company’s consolidated financial statements.

In December 2011, the FASB issued disclosure guidance ASU 2011-11, Balance Sheet (Topic 210) – Disclosures about Offsetting Assets and Liabilities. The amendments in this update require an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. The amended guidance is effective for us on a retrospective basis commencing in the first quarter of 2014. The provisions of ASU 2011-11, when adopted, are not expected to have a material impact on the Company’s consolidated financial statements.

In December 2011, the FASB issued disclosure guidance ASU 2011-12, Comprehensive Income – Deferral of the Effective Date for Amendments to the Presentation of Reclassification of Items Out of Accumulated Other Comprehensive Income in ASU 2011-05. In order to defer only those changes in ASU 2011-05 that relates to the presentation of reclassification adjustments, the paragraphs in this update supersede certain pending paragraphs in ASU 2011-05. The amendments are being made to allow the FASB time to redeliberate whether to present on the face of the financial statements the effects of reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income for all periods presented. While the FASB is considering the operational concerns about the presentation requirements for reclassification adjustments and the needs of financial statement users for additional information about reclassification adjustments, entities should continue to report reclassifications out of accumulated other comprehensive income consistent with the presentation requirements in effect before ASU 2011-05. All other requirements in ASU 2011-05 are not affected by this update, including the requirement to report comprehensive income either in a single continuous financial statement or in two separate but consecutive financial statements. These provisions are effective for fiscal years beginning after December 15, 2011 and for interim periods within those fiscal years; however, early adoption is permitted. The provisions of ASU 2011-05, when adopted, are not expected to have a material impact on the Company’s consolidated financial statements.

NOTE 12 - SUBSEQUENT EVENT

None

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

Forward Looking Statements

From time to time, our representatives or we have made or may make forward-looking statements, orally or in writing.  Such forward-looking statements may be included in, but not limited to, press releases, oral statements made with the approval of an authorized executive officer or in various filings made by us with the SEC. We may, in some cases, use words such as “project”, “believe”, “anticipate”, “plan”, “expect”, “estimate”, “continue”, “intend”, “should”, “would”, “could”, “may”, “will”, “in the event”, "will likely result" and other similar words, use of future tense and absence of assurance that convey uncertainty regarding future events or outcomes and to identify these forward-looking statements. Such statements are qualified in their entirety by reference to and should be considered in the context of certain important factors that could cause actual results to differ materially from such forward-looking statements.  Accordingly, forward-looking statements should not be relied upon as a prediction of actual results.

Management is currently unaware of any trends or conditions other than those mentioned in this management's discussion and analysis that could have a material adverse effect on our financial position, future results of operations, or liquidity.  However, you should also be aware of factors that could have a negative impact on our prospects and the consistency of progress in the areas of revenue generation, liquidity, and generation of capital resources.  These include: (i) variations in revenue, (ii) possible inability to attract investors for our equity securities or otherwise raise adequate funds from any source should we seek to do so, (iii) increased governmental regulation, (iv) increased competition, (v) unfavorable outcomes to litigation involving us or to which we may become a party in the future and, (vi) a very competitive and rapidly changing operating environment.

The above-identified risks are not all inclusive. New risk factors emerge from time to time and it is not possible for our management to predict all of such risk factors, nor can it assess the impact of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements.  

The financial information set forth in the following discussion should be read in conjunction with our consolidated financial statements included elsewhere herein.

Overview

We were incorporated in Nevada in December 2007. We have two operating segments: (i) mobile VoIP communications and mobile advertising services; and (ii) renewable energy, as described below.

(i)  Mobile VoIP Communications and Mobile Advertising Services

We provide a proprietary platform that enables our customers to sell advertisement banners on the mobile phones of persons who have registered with them. Mobile phone users are incentivized to consent to receiving advertisement banners by a rewards program that allows mobile phone users to earn rewards points to make long distance and international calls and to send multimedia messages from their mobile phones. Our customers, who we call channel partners and private label partners, are marketers/advertisers who we have selected and trained and to whom we grant an exclusive territory in which they operate. Our customers pay us a fee to utilize our licensed proprietary platform within their exclusive territory.

We provide our customers with access to mobile advertising content via our proprietary platform, as well as multimedia content production services which our customers utilize to sell services to advertisers and advertising agencies and to disseminate to registered mobile phone users via the rewards program. We utilize some of that fee revenue to purchase VoIP call capacity from VyseTech Asia Sdn Bhd (“VTA”), which we provide to our customers (the private label partners) to make available to registered mobile phone users.  

We generate revenues from sale of our mobile VoIP communications and mobile advertising solutions; as well as MobiCAST and MobiREWARDS programs to our channel partners and private label partners. We also generate revenues from license fee payments by our existing customers for the use of our proprietary platform as well as fees for providing maintenance and monitoring services that include monitoring users’ response to advertisements and communicating such responses to advertisers.

On December 15, 2011, we entered into a Patent and Technology License Agreement (the “License Agreement”) and an

16

Amended Patent and Technology License Agreement (the “Amended License Agreement”) on March 23, 2012, with Soon Hock Lim (”SHL”) pursuant to which SHL agreed to grant us non-exclusive licensing rights to use the proprietary technologies and claims under U.S. patent # 8,089,943 in Malaysia, China, Thailand, Philippines, Indonesia, Vietnam, India and Korea. The License Agreement relates to how data stored in an array of protocols are converted and seamlessly integrated into value-added solutions in different formats and transmitted to mobile phones.

Our mobile advertising platform is driven by the combined methodologies of our patent which we acquired in June 2011 and the License Agreement. Our platform provides the essential business logic, platform intelligence and central management that drives the platform and enables the application of flexible business models. We have achieved our objective by integrating our platform with internal and external enablers that are embedded in our advertising server (ad server). Our platform enables the conversion of media (text, voice, video and graphics) into value-added solutions in different protocols and formats that are seamlessly integrated for transmission to mobile phones.

 (ii) Renewable Energy

We generate revenues from services we render to our customers that include (i) the provision of consultancy services for the design and integration of solar PV-wind hybrid power generation applications (ii) the production of syngas, bio-oil and biochar using biomass such as wood residues, and oil palm stems and fronds as feedstock; and (iii) the establishment and operation of a syngas-to-electricity generation plants. Our entry into the renewable energy business was intended to develop additional recurring revenue streams to complement our mobile VoIP communications and mobile advertising business segment.

We help our customers to conceptualize, design and integrate solar PV-wind systems to obtain structure design efficiency, energy efficiency, indoor environment quality enhancement, operation and maintenance optimization and the most important is waste reduction. The solar PV-wind systems that we design and build are based on the methodology for the optimal sizing of a solar PV-wind hybrid power generation system developed by our Chairman, Mohd. Aris Bernawi. The services we render include site assessment, site verification, power system modeling and analysis, engineering design, project management, progress inspection, installation and integration of the power generation system with solar PV to operate as a hybrid power generation system.

Applications that we have developed for the solar PV-wind hybrid power generation system include

·

Rural and remote island electrification

·

Powering remote radio base stations

·

Potable water production; and

·

Potable water production and organic vegetable cultivation

We do not manufacture any of the components used for the power generation systems. The components are source from various suppliers. We typically solicit competitive proposals from various component manufacturers, evaluate the proposals and recommend to our customers’ components that meet with their system performance specifications.

We derive revenues by helping our clients to:

·

identify projects and conducts feasibility studies on the proposed projects

·

conduct site assessment, site verification and progress inspection

·

design and integrate solar PV-wind hybrid power generation system to adapt and customize our solar PV-wind hybrid power generation system to local climatic and geographical conditions

·

project management services that include cost planning, tendering, negotiating and awarding of tenders, procurement, site superintendence and contract administration

·

integrate their control system to a central data collection system that can remotely monitor the operation of the plant and provide maintenance warnings; and

·

maintain their plant by providing computer aided maintenance management systems

The incentives and liberal policies for producing renewable energy in Malaysia, Thailand and Indonesia have encouraged more companies to be involved in biomass power generation. The increased demand for production

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equipment to meet the requirements for renewable energy and limited suppliers of such equipment has caused the price of production equipment to increase between 30-35% during the past nine months. The higher price is expected to remain firm during the next twelve months. Arising from this development, we have decided to hold in abeyance our entry into the production of biomass energy (syngas, bio-oil and torrefied wood) for the next twelve months. We will monitor the market conditions and decide whether the project is commercially viable to implement in Malaysia at the end of the twelve -month period.

Results of Operations

The following table summarizes the consolidated statements of operations for the three and nine months ended March 31, 2012 and 2011:

Revenues

Operating Revenue for the Three and Nine Months Ended March 31, 2012

The following table sets forth the revenue and percentage of revenue attributable to each of our two operating segments.

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The lower revenue for our mobile VoIP communications and mobile advertising segment for the three and nine months ended March 31, 2012 compared to March 31, 2011 was attributed to (i) the completion of mobile VoIP communications and mobile advertising contracts that were secured during 2010; and (ii) adoption of the technology licensing model following the acquisition of U.S. patent #8,005,057 on June 27, 2011 that generated lower revenues but a higher profit margin. Our adoption of the technology-licensing model has helped us to create a new recurring revenue stream. The new model has also helped our customers to offer a more flexible pricing structure to compete more aggressively in the market. We have mitigated the impact of the lower revenue by securing new multimedia content production and e-commerce contracts that generated a higher profit margin of between 20% to 25%.

Customer Concentration

Customer concentration based on revenue contribution for the three and nine months ended March 31, 2012 and 2011; and credit concentrations at March 31, 2012 and 2011were as follows:

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