| Florida                         |   | 90-0294361                           |
|---------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of |   | (I.R.S. Employer Identification No.) |
| incorporation or organization)  |   |                                 |

|   | N/A                                                                                |   |
|--------|------------------------------------------------------------------------------------|--------|
|   | (Former name, former address and former fiscal year, if changed since last report) |   |

| Large accelerated filer o           | Accelerated filer   o |
|-------------------------------------|---------------------------------|
| Non-accelerated filer   o | Smaller reporting company x     |

----

----

| PART       | I.     | FINANCIAL INFORMATION                                             |   |
|------------|--------|-------------------------------------------------------------------|--------|
|       |   |                                                              |   |
| Item       | 1.     | Financial Statements:                                             |   |
|       |   |                                                              |   |
|       |   | Condensed Consolidated Balance Sheets as of March                 |   |
|       |   | 31, 2011 (unaudited)(restated) and September 30, 2010             | 2      |
|       |   |                                                              |   |
|       |   | Condensed Consolidated Statements of Operations for               |   |
|       |   | the three and six months ended March 31, 2011(restated) and 2010  |   |
|       |   | (Unaudited)                                                       | 4      |
|       |   |                                                              |   |
|       |   | Condensed Consolidated Statements of Cash Flows for               |   |
|       |   | the three and six months ended March 31, 2011 (restated) and 2010 |   |
|       |   | (Unaudited)                                                       | 5      |
|       |   |                                                              |   |
|       |   | Notes to Condensed Consolidated Financial Statements (Unaudited)  | 6      |
|       |   |                                                              |   |
| Item       | 2.     | Management's Discussion and Analysis of Financial Condition and   |   |
|       |   | Results of Operations                                             | 13     |
|       |   |                                                              |   |
| Item       | 3.     | Quantitative and Qualitative Disclosure About Market Risk         | 16     |
|       |   |                                                              |   |
| Item       | 4.     | Controls and Procedures                                           | 17     |
|       |   |                                                              |   |
| PART       | II.    | OTHER INFORMATION                                                 |   |
|       |   |                                                              |   |
| Item       | 1.     | Legal Proceedings                                                 | 18     |
|       |   |                                                              |   |
| Item       | 1A.    | Risk Factors                                                      | 18     |
|       |   |                                                              |   |
| Item       | 2.     | Unregistered Sales of Equity Securities and Use of Proceeds       | 18     |
|       |   |                                                              |   |
| Item       | 3.     | Defaults Upon Senior Securities                                   | 18     |
|       |   |                                                              |   |
| Item       | 4.     | Submission of Matters to a Vote of Security Holders               | 18     |
|       |   |                                                              |   |
| Item       | 5.     | Other Information                                                 | 18     |
|       |   |                                                              |   |
| Item       | 6.     | Exhibits                                                          | 18     |
|       |   |                                                              |   |
| Signatures |   | 19                                                                |

----

----

|                                                                                                                                                 |   | March 31,             |      |   | September 30, |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------|-----------|--------|---------------|--------|
|                                                                                                                                                 |   | 2011                  |      |   | 2010          |   |
|                                                                                                                                                 |   | (Unaudited)(Restated) |      |   |          |   |
| ASSETS                                                                                                                                               |   |                  |      |   |          |   |
|                                                                                                                                                 |   |                  |      |   |          |   |
| CURRENT ASSETS:                                                                                                                                      |   |                  |      |   |          |   |
| Cash and cash equivalents                                                                                                                            |   | $                     | 123,770   |   |          | $      | 17,420 |   |
| Accounts receivable - trade                                                                                                                          |   |                  | 1,317     |   |          |   | 36,276 |   |
| Other receivables                                                                                                                                    |   |                  | 14,099    |   |          |   | - |   |
| Due from Giga Matrix Holding, B.V.                                                                                                                   |   |                  | 648,787   |   |          |   | 361,441 |   |
| Inventory, work in process (net of reserve for slow moving inventory of $243,930 and $187,478 at March 31, 2011 and September 30, 2010,respectively) |   |                  | 908,458   |   |          |   | 1,076,580 |   |
| Prepaid taxes                                                                                                                                        |   |                  | 85,441    |   |          |   | 8,278 |   |
| Prepaid expenses                                                                                                                                     |   |                  | 158,956   |   |          |   | 5,224 |   |
|                                                                                                                                                 |   |                  |      |   |          |   |   |   |
| Total current assets                                                                                                                                 |   |                  | 1,940,828 |   |          |   | 1,505,219 |   |
|                                                                                                                                                 |   |                  |      |   |          |   |   |   |
| PROPERTY AND EQUIPMENT, NET                                                                                                                          |   |                  | 3,514,144 |   |          |   | 7,120 |   |
|                                                                                                                                                 |   |                  |      |   |          |   |   |   |
| OTHER ASSETS:                                                                                                                                        |   |                  |      |   |          |   |   |   |
| Investment in Giga Matrix Holdings B.V.                                                                                                              |   |                  | -         |   |          |   | - |   |
| Goodwill                                                                                                                                             |   |                  | 441,727   |   |          |   | 424,346 |   |
| Patents and tradenames, net                                                                                                                          |   |                  | 3,599,963 |   |          |   | - |   |
| Long-term notes receivable (net of allowance for bad debts of $597,967and $588,171 at March 31, 2011 and September 30, 2010, respectively)           |   |                  | -         |   |          |   | - |   |
|                                                                                                                                                 |   |                  |      |   |          |   |   |   |
|                                                                                                                                                 |   | $                     | 9,496,662 |   |          | $      | 1,936,685 |   |

----

|                                                                                                                                                               |   | March 31,        |        |   | September 30, |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------|-------------|--------|--------------------|--------|
|                                                                                                                                                               |   | 2011                  |        |   | 2010               |   |
|                                                                                                                                                               |   | (Unaudited)(Restated) |        |   |               |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                                                                                              |   |                  |        |   |               |   |
|                                                                                                                                                               |   |                  |        |   |               |   |
| CURRENT LIABILITIES:                                                                                                                                               |   |                  |        |   |               |   |
| Accounts payable - trade                                                                                                                                           |   | $                     | 416,814     |   |               | $      | 111,576 |   |
| Accrued liabilities                                                                                                                                                |   |                  |        |   |               |   |   |   |
| Related parties                                                                                                                                                    |   |                  | -           |   |               |   | 127,619 |   |
| Other                                                                                                                                                              |   |                  | 257,502     |   |               |   | 36,949 |   |
| Notes payable                                                                                                                                                      |   |                  | 312,554     |   |               |   | 300,256 |   |
| Income Taxes payable                                                                                                                                               |   |                  | -           |   |               |   | 80,000 |   |
| Loans from related parties                                                                                                                                         |   |                  | 9,536,370   |   |               |   | 2,790,765 |   |
|                                                                                                                                                               |   |                  |        |   |               |   |   |   |
| Total current liabilities                                                                                                                                          |   |                  | 10,523,240  |   |               |   | 3,447,165 |   |
|                                                                                                                                                               |   |                  |        |   |               |   |   |   |
| STOCKHOLDERS' DEFICIT:                                                                                                                                             |   |                  |        |   |               |   |   |   |
| Preferred stock; par value of $0.001, 5,000,000 shares authorized, no shares outstanding                                                                           |   |                  | -           |   |               |   | - |   |
| Common stock; par value of $0.001, 500,000,000 shares authorized,5,991,789 and 4,953,700 shares outstanding at March 31, 2011 and September 30, 2010, respectively |   |                  | 5,992       |   |               |   | 4,954 |   |
| Additional paid-in capital                                                                                                                                         |   |                  | 32,865,974  |   |               |   | 31,511,257 |   |
| Accumulated deficit                                                                                                                                                |   |                  | (30,792,872 | )      |               |   | (30,019,592 | ) |
| Accumulated other comprehensive loss                                                                                                                               |   |                  | (3,105,672  | )      |               |   | (3,007,099 | ) |
|                                                                                                                                                               |   |                  |        |   |               |   |   |   |
| Total stockholders' deficit                                                                                                                                        |   |                  | (1,026,578  | )      |               |   | (1,510,480 | ) |
|                                                                                                                                                               |   |                  |        |   |               |   |   |   |
|                                                                                                                                                               |   | $                     | 9,496,662   |   |               | $      | 1,936,685 |   |

----

|                                                    |   | For the three months ended |       |   | For the six months ended |   |
|---------------------------------------------------------|--------|----------------------------|------------|--------|--------------------------|--------|
|                                                    |   | March 31,                  |       |   | March 31,                |   |
|                                                    |   | 2011                       |       |   | 2010                     |   |   | 2011 |   |   | 2010 |   |
|                                                    |   | (Restated)                 |       |   |                     |   |   | (Restated) |   |   |   |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |
| SALES                                                   |   | $                          | 7,943      |   |                     | $      | 111 |   |   | $ | 19,914 |   |   | $ | 234,510 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| COST OF SALES                                           |   |                       | 71,533     |   |                     |   | 13,773 |   |   |   | 148,876 |   |   |   | 183,906 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| GROSS (LOSS) INCOME                                     |   |                       | (63,590    | )      |                     |   | (13,662 | ) |   |   | (128,962 | ) |   |   | 50,604 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING EXPENSES:                                     |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Selling, general and administrative expenses            |   |                       | 905,694    |   |                     |   | 224,049 |   |   |   | 1,640,660 |   |   |   | 599,649 |   |
| Depreciation and amortization                           |   |                       | 297,437    |   |                     |   | 761 |   |   |   | 544,762 |   |   |   | 1,454 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Total operating expenses                                |   |                       | 1,203,131  |   |                     |   | 224,810 |   |   |   | 2,185,422 |   |   |   | 601,103 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| LOSS FROM CONTINUING OPERATIONS                         |   |                       | (1,266,721 | )      |                     |   | (238,472 | ) |   |   | (2,314,384 | ) |   |   | (550,499 | ) |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSES):                                |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Interest income                                         |   |                       | 18         |   |                     |   | 10,417 |   |   |   | 37 |   |   |   | 17,951 |   |
| Gain on bargain purchase                                |   |                       | -          |   |                     |   | - |   |   |   | 1,487,531 |   |   |   | - |   |
| Loss on investment                                      |   |                       | (9,136     | )      |                     |   | (103,503 | ) |   |   | (21,762 | ) |   |   | (103,503 | ) |
| Interest expense - related parties                      |   |                       | (2,541     | )      |                     |   | (4,154 | ) |   |   | (4,702 | ) |   |   | (8,584 | ) |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| LOSS FROM CONTINUING OPERTIONS BEFORE INCOME TAXES      |   |                       | (1,278,380 | )      |                     |   | (335,712 | ) |   |   | (853,280 | ) |   |   | (644,635 | ) |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| BENEFIT FROM INCOME TAXES                               |   |                       | -          |   |                     |   | - |   |   |   | 80,000 |   |   |   | - |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| NET LOSS BEFORE DISCONTINUED OPERATIONS                 |   |                       | (1,278,380 | )      |                     |   | (335,712 | ) |   |   | (773,280 | ) |   |   | (644,635 | ) |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| NET INCOME FROM DISCONTINUED OPERATIONS                 |   |                       | -          |   |                     |   | - |   |   |   | - |   |   |   | 3,174,493 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| NET (LOSS) INCOME                                       |   | $                          | (1,278,380 | )      |                     | $      | (335,712 | ) |   | $ | (773,280 | ) |   | $ | 2,529,858 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| BASIC AND DILUTED (LOSS) INCOME PER SHARE:              |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| From continuing operations                              |   | $                          | (0.22      | )      |                     | $      | (0.07 | ) |   | $ | (0.13 | ) |   | $ | (0.13 | ) |
| From discontiued operations                             |   |                       | -          |   |                     |   | - |   |   |   | - |   |   |   | 0.64 |   |
| Total                                                   |   | $                          | (0.22      | )      |                     | $      | (0.07 | ) |   | $ | (0.13 | ) |   | $ | 0.51 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| AVERAGE COMMON AND COMMON EQUIVALENT SHARES OUTSTANDING |   |                       | 5,921,737  |   |                     |   | 4,953,700 |   |   |   | 5,758,026 |   |   |   | 4,953,700 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| THE COMPONENTS OF COMPREHENSIVE INCOME:                 |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Net (Loss) Income                                       |   | $                          | (1,278,380 | )      |                     | $      | (335,712 | ) |   | $ | (773,280 | ) |   | $ | 2,529,858 |   |
| Foreign currency translation adjustment                 |   |                       | (40,164    | )      |                     |   | 41,649 |   |   |   | (149,353 | ) |   |   | (73,703 | ) |
| Tax effect on currency translation                      |   |                       | 13,656     |   |                     |   | (14,161 | ) |   |   | 50,780 |   |   |   | 25,059 |   |
|                                                    |   |                       |       |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| COMPREHENSIVE (LOSS) INCOME                             |   | $                          | (1,304,888 | )      |                     | $      | (308,224 | ) |   | $ | (871,853 | ) |   | $ | 2,481,214 |   |

----

|                                                                          |   | 2011        |       |   | 2010        |   |
|-------------------------------------------------------------------------------|--------|-------------|------------|--------|-------------|--------|
|                                                                          |   | (Unaudited) |       |   | (Unaudited) |   |
|                                                                          |   | (Restated)  |       |   | (Restated)  |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                         |   |        |       |   |        |   |
| Net (loss) income                                                             |   | $           | (773,280   | )      |        | $      | 2,529,858 |   |
| Adjustments to reconcile net income to net cash used in operating activities: |   |        |       |   |        |   |   |   |
| Depreciation and amortization                                                 |   |        | 544,762    |   |        |   | 1,454 |   |
| Bad debt expense                                                              |   |        | -          |   |        |   | 17,900 |   |
| Stock-based compensation                                                      |   |        | 67,552     |   |        |   | - |   |
| Inventory allowance                                                           |   |        | 47,121     |   |        |   | - |   |
| Loss on equity investments                                                    |   |        | 21,762     |   |        |   | 103,503 |   |
| Gain on bargain purchase                                                      |   |        | (1,487,531 | )      |        |   |   |   |
| Gain on sale of subsidiaries                                                  |   |        | -          |   |        |   | (3,200,137 | ) |
| Change in operating assets and liabilities                                    |   |        |       |   |        |   |   |   |
| Accounts receivable - trade                                                   |   |        | 42,266     |   |        |   | (1,281 | ) |
| Accounts receivable - other                                                   |   |        | 73,627     |   |        |   | - |   |
| Accrued interest receivable                                                   |   |        |       |   |        |   | (17,900 | ) |
| Inventory                                                                     |   |        | 50,676     |   |        |   | 153,974 |   |
| Prepaid expenses                                                              |   |        | (73,861    | )      |        |   | (893 | ) |
| Prepaid taxes                                                                 |   |        | (21,404    | )      |        |   | (14,999 | ) |
| Accounts payable                                                              |   |        | (11,378    | )      |        |   | 300 |   |
| Accrued liabilities and income taxes payable                                  |   |        | (97,861    | )      |        |   | (653 | ) |
|                                                                          |   |        |       |   |        |   |   |   |
| Net cash used in operating activities                                         |   |        | (1,617,549 | )      |        |   | (428,874 | ) |
|                                                                          |   |        |       |   |        |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                         |   |        |       |   |        |   |   |   |
| Purchase of fixed assets                                                      |   |        | (133,582   | )      |        |   | - |   |
| Proceeds from disposal of equipment                                           |   |        | -          |   |        |   | 2,786 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| Net cash (used in) provided by investing activities                           |   |        | (133,582   | )      |        |   | 2,786 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                         |   |        |       |   |        |   |   |   |
| Payments on notes payable                                                     |   |        | (4,683     | )      |        |   | - |   |
| Loan proceeds from related parties                                            |   |        | 1,925,154  |   |        |   | 401,506 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| Net cash provided by financing activities                                     |   |        | 1,920,471  |   |        |   | 401,506 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| EFFECT OF EXCHANGE RATE                                                       |   |        | (62,990    | )      |        |   | 21,633 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                          |   |        | 106,350    |   |        |   | (2,949 | ) |
|                                                                          |   |        |       |   |        |   |   |   |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                |   |        | 17,420     |   |        |   | 15,652 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| CASH AND CASH EQUIVALENTS, END OF PERIOD                                      |   | $           | 123,770    |   |        | $      | 12,703 |   |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS                              |   |        |       |   |        |   |   |   |
| 112,584 shares of common stock issued for compensation                        |   | $           | 67,552     |   |        | $      | - |   |
| 675,505 shares of common stock issued for acquisition                         |   | $           | 709,280    |   |        | $      | - |   |
| 250,000 shares of common stock issued for accrued interest                    |   | $           | 348,741    |   |        | $      | - |   |

----

----

|                                                                |   | Wilroot/HEM |      |
|---------------------------------------------------------------------|--------|-------------|-----------|
|                                                                |   |        |      |
| Current assets                                                      |   | $           | 411,480   |   |
| Amount due from Teleconnect, Inc                                    |   |        | 1,684,605 |   |
| Amount due from MediaWizz                                           |   |        | 456,744   |   |
| Total current assets                                                |   |        | 2,552,829 |   |
| Ageviewers software                                                 |   |        | 3,257,659 |   |
| Property and equipment                                              |   |        | 350,485   |   |
| Terminal and kiosk hardware design                                  |   |        | 690,347   |   |
| Patents and processes                                               |   |        | 2,003,044 |   |
| Tradenames                                                          |   |        | 1,082,549 |   |
| Net assets                                                          |   |        | 9,936,913 |   |
|                                                                |   |        |      |   |
| Purchase consideration                                              |   |        | 8,449,382 |   |
|                                                                |   |        |      |   |
| Excess of net assets over purchase consideration (bargain purchase) |   | $           | 1,487,531 |   |

----

|                                                        |   | Six months Ended March 31, |       |
|-------------------------------------------------------------|--------|------------------------------------------------|------------|
|                                                        |   | 2011                                           |       |   | 2010 |   |
|                                                        |   |                                           |       |   |   |   |
| Revenues                                                    |   | $                                              | 19,914     |   |   | $ | 361,373 |   |
| Loss from continuing operations                             |   | $                                              | (2,340,811 | ) |   | $ | (2,656,509 | ) |
|                                                        |   |                                           |       |   |   |   |   |   |
| Basic and diluted loss from continuing operations per share |   | $                                              | (0.41      | ) |   | $ | (0.54 | ) |

|                                         |   | Oct-Nov 25 |      |
|----------------------------------------------|--------|-----------------|-----------|
|                                         |   | 2009            |      |
|                                         |   |            |      |
| Sales                                        |   | $               | 586,479   |   |
| Cost of sales                                |   |            | 364,021   |   |
| Gross profit                                 |   |            | 222,458   |   |
| Selling, general and administrative expenses |   |            | 218,695   |   |
| Depreciation                                 |   |            | 7,466     |   |
| Operating loss                               |   |            | (3,703    | ) |
| Gain on sale of subsidiaries                 |   |            | 3,200,137 |   |
| Other expense                                |   |            | (21,941   | ) |
| Income from discontinued operations          |   | $               | 3,174,493 |   |

----

|                                         |   | 2011   |       |   | 2010   |   |
|----------------------------------------------|--------|--------|------------|--------|--------|--------|
| Basic and diluted loss per share computation |   |   |       |   |   |   |
| Numerator:                                   |   |   |       |   |   |   |
| Net loss                                     |   | $      | (1,278,380 | )      |   | $      | (335,712 | ) |
|                                         |   |   |       |   |   |   |   |   |
| Denominator:                                 |   |   |       |   |   |   |   |   |
| Weighted average common shares outstanding   |   |   | 5,921,737  |   |   |   | 4,953,700 |   |
| Basic and diluted loss per share:            |   |   |       |   |   |   |   |   |
| From continuing operations                   |   | $      | (0.22      | )      |   | $      | (0.07 | ) |
| From discontinued operations                 |   | $      | -          |   |   | $      | - |   |
| Total                                        |   | $      | (0.22      | )      |   | $      | (0.07 | ) |

|                                         |   | 2011   |      |   | 2010   |   |
|----------------------------------------------|--------|--------|-----------|--------|--------|--------|
| Basic and diluted loss per share computation |   |   |      |   |   |   |
| Numerator:                                   |   |   |      |   |   |   |
| Net loss from continuing operations          |   | $      | (773,280  | )      |   | $      | (644,635 | ) |
| Net income from discontinued operations      |   | $      | -         |   |   | $      | 3,174,493 |   |
| Net income                                   |   | $      | (773,280  | )      |   | $      | 2,529,858 |   |
|                                         |   |   |      |   |   |   |   |   |
| Denominator:                                 |   |   |      |   |   |   |   |   |
| Weighted average common shares outstanding   |   |   | 5,758,026 |   |   |   | 4,953,700 |   |
| Basic and diluted income (loss) per share:   |   |   |      |   |   |   |   |   |
| From continuing operations                   |   | $      | (0.13     | )      |   | $      | (0.13 | ) |
| From discontinued operations                 |   | $      | -         |   |   | $      | 0.64 |   |
| Total                                        |   | $      | (0.13     | )      |   | $      | 0.51 |   |

----

|     |   | 2011        |    |   | 2010        |   |
|----------|--------|-------------|---------|--------|-------------|--------|
|     |   | (Unaudited) |    |   | (Unaudited) |   |
| Net loss |   | $           | (44,412 | )      |        | $      | (211,231 | ) |

|                                              |   | Balance March31, 2011, aspreviouslyreported |        |   | Adjustmentamounts |   |    | BalanceMarch 31, 2011, as restated |   |
|---------------------------------------------------|--------|------------------------------------------------------------|-------------|--------|-------------------|--------|---------|--------------------------------------------------------|--------|
| Patents and tradenames, net                       |   | $                                                          | 3,283,812   |   |              | $      | 316,151 |                                                   |   | $ | 3,599,963 |   |
| Total assets                                      |   | $                                                          | 9,180,511   |   |              | $      | 316,151 |                                                   |   | $ | 9,496,662 |   |
|                                              |   |                                                       |        |   |              |   |    |                                                   |   |   |   |   |
| Accumulated deficit                               |   | $                                                          | (31,096,184 | )      |              | $      | 303,312 |                                                   |   | $ | (30,792,872 | ) |
| Accumulated other comprehensive loss              |   |                                                       | (3,118,511  | )      |              |   | 12,839  |                                                   |   |   | (3,105,672 | ) |
| Total stockholders’ deficit                 |   |                                                       | (1,342,729  | )      |              |   | 316,151 |                                                   |   |   | (1,026,578 | ) |
| Total liabilities and stockholders’ deficit |   | $                                                          | 9,180,511   |   |              | $      | 316,151 |                                                   |   | $ | 9,496,662 |   |

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|                                                 |   | Balance March31, 2011, aspreviouslyreported |       |   | Adjustmentamounts |   |     | BalanceMarch 31, 2011,as restated |   |
|------------------------------------------------------|--------|------------------------------------------------------------|------------|--------|-------------------|--------|----------|--------------------------------------------------|--------|
| Depreciation and amortization                        |   | $                                                          | 462,420    |   |              | $      | (164,983 | )                                                |   | $ | 297,437 |   |
| Total operating expenses                             |   |                                                       | 1,368,114  |   |              |   | (164,983 | )                                                |   |   | 1,203,131 |   |
| Loss from continuing operations                      |   |                                                       | (1,431,704 | )      |              |   | 164,983  |                                             |   |   | (1,266,721 | ) |
| Loss from continuing operations before income taxes  |   |                                                       | (1,443,363 | )      |              |   | 164,983  |                                             |   |   | (1,278,380 | ) |
| Net loss                                             |   |                                                       | (1,443,363 | )      |              |   | 164,983  |                                             |   |   | (1,278,380 | ) |
| Basic and diluted income (loss)  per share |   | $                                                          | ( 0.24     | )      |              | $      | 0.02     |                                             |   | $ | ( 0.22 | ) |
| Foreign currency translation adjustment              |   |                                                       | (63,024    | )      |              |   | 22,860   |                                             |   |   | (40,164 | ) |
| Tax effect on currency translation                   |   |                                                       | 21,428     |   |              |   | (7,772   | )                                                |   |   | 13,656 |   |
| Comprehensive income (loss)                          |   | $                                                          | (1,484,959 | )      |              | $      | 180,071  |                                             |   | $ | (1,304,888 | ) |

|                                                 |   | Balance March31, 2011, aspreviouslyreported |       |   | Adjustmentamounts |   |     | BalanceMarch 31, 2011, as restated |   |
|------------------------------------------------------|--------|------------------------------------------------------------|------------|--------|-------------------|--------|----------|--------------------------------------------------------|--------|
| Depreciation and amortization                        |   | $                                                          | 848,074    |   |              | $      | (303,312 | )                                                      |   | $ | 544,762 |   |
| Total operating expenses                             |   |                                                       | 2,488,734  |   |              |   | (303,312 | )                                                      |   |   | 2,185,422 |   |
| Loss from continuing operations                      |   |                                                       | (2,617,696 | )      |              |   | 303,312  |                                                   |   |   | 2,314,384 |   |
| Loss from continuing operations before income taxes  |   |                                                       | (1,156,592 | )      |              |   | 303,312  |                                                   |   |   | (853,280 | ) |
| Net loss                                             |   |                                                       | (1,076,592 | )      |              |   | 303,312  |                                                   |   |   | (773,280 | ) |
| Basic and diluted income (loss)  per share |   | $                                                          | ( 0.19     | )      |              | $      | 0.06     |                                                   |   | $ | ( 0.13 | ) |
| Foreign currency translation adjustment              |   |                                                       | (168,806   | )      |              |   | 19,453   |                                                   |   |   | (149,353 | ) |
| Tax effect on currency translation                   |   |                                                       | 57,394     |   |              |   | (6,614   | )                                                      |   |   | 50,780 |   |
| Comprehensive income (loss)                          |   | $                                                          | (1,188,004 | )      |              | $      | 316,151  |                                                   |   | $ | (871,853 | ) |

|                          |   | Balance March31, 2011, aspreviouslyreported |       |   | Adjustmentamounts |   |     | BalanceMarch 31, 2011, as restated |   |
|-------------------------------|--------|------------------------------------------------------------|------------|--------|-------------------|--------|----------|--------------------------------------------------------|--------|
| Net income                    |   | $                                                          | (1,076,592 | )      |              | $      | 303,312  |                                                   |   | $ | (773,280 | ) |
| Depreciation and amortization |   | $                                                          | 848,074    |   |              | $      | (303,312 | )                                                      |   | $ | 544,762 |   |

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| 31.1 |   | Certification of  Dirk L. Benschop, Director,  Chief  Executive Office, President, Treasurer |
|------|--------|----------------------------------------------------------------------------------------------------------------------------|
| 31.2 |   | Certification of  Leslie G. Pettitt, Director, Chief Financial Officer and principal accounting officer          |
| 32.1 |   | Certification of  Dirk L. Benschop and Leslie G. Pettitt                                                         |

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|                       | Teleconnect Inc.                                                              |
|----------------------------|-------------------------------------------------------------------------------|
|                       |                                                                          |
| Date: August 18, 2011 | By:                                                                           | /s/ Dirk L. Benschop |
|                       | Dirk L. Benschop                                                              |
|                       | Director, Chief  Executive Officer, President and Treasurer         |
|                       |                                                                          |
|                       | Teleconnect Inc.                                                              |
|                       |                                                                          |
| Date: August 18, 2011 | By:                                                                           | /s/ Leslie G. Pettitt |
|                       | Leslie G. Pettitt                                                             |
|                       | Director, Chief  Financial Officer and principal accounting officer |

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| No.    |         | Description                                                                                                       |
|--------|--------------|-------------------------------------------------------------------------------------------------------------------|
|   |         |                                                                                                              |
| 31.1   |         | Certification of Dirk Benschop, Director, Chief  Executive Office, President, Treasurer                 |
| 31.2   |         | Certification of Leslie G. Pettitt, Director, Chief  Financial Officer and principal accounting officer |
| 32.1   |    | Certification of Dirk Benschop and Leslie G. Pettitt                                                              |

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