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

| 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 December             |                                                            |
|       |       31, 2010 (unaudited) and September 30, 2010                      | 4                                                               |
|       |                                                                                            |                                                            |
|       |       Condensed Consolidated Statements of Operations for              |                                                            |
|       |       the three months ended December 31, 2010 and 2009                |                                                            |
|       |       (Unaudited)                                                 | 6                                                               |
|       |                                                                                            |                                                            |
|       |       Condensed Consolidated Statements of Cash Flows for              |                                                            |
|       |       the three months ended December 31, 2010 and 2009                |                                                            |
|       |       (Unaudited)                                                      | 7                                                               |
|       |                                                                                            |                                                            |
|       |       Notes to Condensed Consolidated Financial Statements (Unaudited) | 8                                                               |
|       |                                                                                            |                                                            |
| Item       | 2.                                                                                              | Management's Discussion and Analysis of Financial Condition and |   |
|       |                                                                                            | Results of Operations                                           | 13     |
|       |                                                                                            |                                                            |   |
| Item       | 3.                                                                                              | Quantitative and Qualitative Disclosure About Market Risk       | 15     |
|       |                                                                                            |                                                            |   |
| Item       | 4.                                                                                              | Controls and Procedures                                         | 16     |
|       |                                                                                            |                                                            |   |
| PART       | II.                                                                                             | OTHER INFORMATION                                               |   |
|       |                                                                                            |                                                            |
| Item       | 1.                                                                                              | Legal Proceedings                                               | 17     |
|       |                                                                                            |                                                            |   |
| Item       | 1A.                                                                                             | Risk Factors                                                    | 17     |
|       |                                                                                            |                                                            |   |
| Item       | 2.                                                                                              | Unregistered Sales of Equity Securities and Use of Proceeds     | 17     |
|       |                                                                                            |                                                            |   |
| Item       | 3.                                                                                              | Defaults Upon Senior Securities                                 | 17     |
|       |                                                                                            |                                                            |   |
| Item       | 4.                                                                                              | Submission of Matters to a Vote of Security Holders             | 17     |
|       |                                                                                            |                                                            |   |
| Item       | 5.                                                                                              | Other Information                                               | 17     |
|       |                                                                                            |                                                            |   |
| Item       | 6.                                                                                              | Exhibits                                                        | 17     |
|       |                                                                                            |                                                            |   |
| Signatures | 18                                                                                              |

----

----

|                                                                                                                                                         |   | December 31, |      |   | September 30, |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|--------|--------------------|--------|
|                                                                                                                                                         |   | 2010              |      |   | 2010               |   |
|                                                                                                                                                         |   | (Unaudited)       |      |   |               |   |
| ASSETS                                                                                                                                                       |   |              |      |   |               |   |
|                                                                                                                                                         |   |              |      |   |               |   |
| CURRENT ASSETS:                                                                                                                                              |   |              |      |   |               |   |
| Cash                                                                                                                                                         |   | $                 | 99,707    |   |               | $      | 17,420 |   |
| Accounts receivable - trade                                                                                                                                  |   |              | 9,661     |   |               |   | 36,276 |   |
| Other receivables                                                                                                                                            |   |              | 66,353    |   |               |   | - |   |
| Due from Giga Matrix Holding, B.V.                                                                                                                           |   |              | 597,472   |   |               |   | 361,441 |   |
| Inventory, work in process (net of reserve for slow moving inventory of $229,422 and $187,478 at December 31, 2010 and September 30, 2010,respectively) |   |              | 1,007,912 |   |               |   | 1,076,580 |   |
| Prepaid taxes                                                                                                                                                |   |              | 86,614    |   |               |   | 8,278 |   |
| Prepaid expenses                                                                                                                                             |   |              | 96,015    |   |               |   | 5,224 |   |
|                                                                                                                                                         |   |              |      |   |               |   |   |   |
| Total current assets                                                                                                                                         |   |              | 1,963,734 |   |               |   | 1,505,219 |   |
|                                                                                                                                                         |   |              |      |   |               |   |   |   |
| PROPERTY AND EQUIPMENT, NET                                                                                                                                  |   |              | 3,288,045 |   |               |   | 7,120 |   |
|                                                                                                                                                         |   |              |      |   |               |   |   |   |
| OTHER ASSETS:                                                                                                                                                |   |              |      |   |               |   |   |   |
| Investment in Giga Matrix Holdings B.V.                                                                                                                      |   |              | -         |   |               |   | - |   |
| Goodwill                                                                                                                                                     |   |              | 415,454   |   |               |   | 424,346 |   |
| Patents and tradenames, net                                                                                                                                  |   |              | 3,355,661 |   |               |   | - |   |
| Long-term notes receivable (net of allowance for bad debts of $575,846 and $588,171 at December 31, 2010 and September 30, 2010, respectively)          |   |              | -         |   |               |   | - |   |
|                                                                                                                                                         |   |              |      |   |               |   |   |   |
|                                                                                                                                                         |   | $                 | 9,022,894 |   |               | $      | 1,936,685 |   |

----

|                                                                                                                                                                        |   | December 31, |        |   | September 30, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-------------|--------|--------------------|--------|
|                                                                                                                                                                        |   | 2010              |        |   | 2010               |   |
|                                                                                                                                                                        |   | (Unaudited)       |        |   |               |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                                                                                                       |   |              |        |   |               |   |
|                                                                                                                                                                        |   |              |        |   |               |   |
|  CURRENT LIABILITIES:                                                                                                                                                  |   |              |        |   |               |   |
|  Accounts payable - trade                                                                                                                                              |   | $                 | 344,457     |   |               | $      | 111,576 |   |
|  Accrued liabilities                                                                                                                                                   |   |              |        |   |               |   |   |   |
|  Related parties                                                                                                                                                       |   |              | -           |   |               |   | 127,619 |   |
|  Other                                                                                                                                                                 |   |              | 190,778     |   |               |   | 36,949 |   |
|  Notes payable                                                                                                                                                         |   |              | 293,964     |   |               |   | 300,256 |   |
|  Income Taxes payable                                                                                                                                                  |   |              | -           |   |               |   | 80,000 |   |
|  Loans from related parties                                                                                                                                            |   |              | 8,349,200   |   |               |   | 2,790,765 |   |
|                                                                                                                                                                        |   |              |        |   |               |   |   |   |
|  Total current liabilities                                                                                                                                             |   |              | 9,178,399   |   |               |   | 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, 5,879,205 and 4,953,700 shares outstanding at December 31, 2010 and September 30, 2010, respectively |   |              | 5,879       |   |               |   | 4,954 |   |
| Additional paid-in capital                                                                                                                                                  |   |              | 32,568,352  |   |               |   | 31,511,257 |   |
| Accumulated deficit                                                                                                                                                         |   |              | (29,652,821 | )      |               |   | (30,019,592 | ) |
| Accumulated other comprehensive loss                                                                                                                                        |   |              | (3,076,915  | )      |               |   | (3,007,099 | ) |
|                                                                                                                                                                        |   |              |        |   |               |   |   |   |
| Total stockholders' deficit                                                                                                                                                 |   |              | (155,505    | )      |               |   | (1,510,480 | ) |
|                                                                                                                                                                        |   |              |        |   |               |   |   |   |
|                                                                                                                                                                        |   | $                 | 9,022,894   |   |               | $      | 1,936,685 |   |

----

|                                                               |   | 2010        |       |   | 2009        |   |
|--------------------------------------------------------------------|--------|-------------|------------|--------|-------------|--------|
|                                                               |   | (Unaudited) |       |   | (Unaudited) |   |
| SALES                                                              |   | $           | 11,971     |   |        | $      | 234,399 |   |
|                                                               |   |        |       |   |        |   |   |   |
| COST OF SALES                                                      |   |        | 77,343     |   |        |   | 170,133 |   |
|                                                               |   |        |       |   |        |   |   |   |
| GROSS LOSS                                                         |   |        | (65,372    | )      |        |   | 64,266 |   |
|                                                               |   |        |       |   |        |   |   |   |
| OPERATING EXPENSES:                                                |   |        |       |   |        |   |   |   |
|  Selling, general and administrative expenses                 |   |        | 734,966    |   |        |   | 368,091 |   |
|  Bad debt expense                                             |   |        | -          |   |        |   | 7,509 |   |
|  Depreciation                                                 |   |        | 385,654    |   |        |   | 693 |   |
|                                                               |   |        |       |   |        |   |   |   |
|  Total operating expenses                                     |   |        | 1,120.620  |   |        |   | 376,293 |   |
|                                                               |   |        |       |   |        |   |   |   |
| LOSS FROM OPERATIONS                                               |   |        | (1,185,992 | )      |        |   | (312,027 | ) |
|                                                               |   |        |       |   |        |   |   |   |
| OTHER INCOME (EXPENSES):                                           |   |        |       |   |        |   |   |   |
|  Interest income                                              |   |        | 19         |   |        |   | 7,534 |   |
|  Gain on bargain purchase                                     |   |        | 1,487,531  |   |        |   | - |   |
|  Loss on investment                                           |   |        | (12,626    | )      |        |   | - |   |
|  Interest expense - related parties                           |   |        | (2,161     | )      |        |   | (4,430 | ) |
|                                                               |   |        |       |   |        |   |   |   |
| LOSS FROM CONTINUING OPERTIONS BEFORE INCOME TAXES                 |   |        | 286,771    |   |        |   | (308,923 | ) |
|                                                               |   |        |       |   |        |   |   |   |
| BENEFIT FROM INCOME TAXES                                          |   |        | 80,000     |   |        |   | - |   |
|                                                               |   |        |       |   |        |   |   |   |
| NET INCOME (LOSS) BEFORE DISCONTINUED OPERATIONS                   |   |        | 366,771    |   |        |   | (308,923 | ) |
|                                                               |   |        |       |   |        |   |   |   |
| NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS                     |   |        | -          |   |        |   | 3,174,493 |   |
|                                                               |   |        |       |   |        |   |   |   |
| NET INCOME                                                         |   | $           | 366,771    |   |        | $      | 2,865,570 |   |
|                                                               |   |        |       |   |        |   |   |   |
| BASIC AND DILUTED (LOSS) INCOME PER SHARE:                         |   |        |       |   |        |   |   |   |
|  From continuing operations                                   |   | $           | 0.07       |   |        | $      | (0.06 | ) |
|  From discontiued operations                                  |   |        | -          |   |        |   | 0.64 |   |
|  Total                                                        |   | $           | 0.07       |   |        | $      | 0.58 |   |
|                                                               |   |        |       |   |        |   |   |   |
| AVERAGE COMMON AND COMMON  EQUIVALENT SHARES OUTSTANDING |   |        | 5,597,872  |   |        |   | 4,953,617 |   |
|                                                               |   |        |       |   |        |   |   |   |
| THE COMPONENTS OF COMPREHENSIVE (LOSS) INCOME:                     |   |        |       |   |        |   |   |   |
| Net Income                                                         |   | $           | 366,771    |   |        | $      | 2,865,570 |   |
| Foreign currency translation adjustment                            |   |        | (105,782   | )      |        |   | (115,352 | ) |
| Tax effect on currency translation                                 |   |        | 35,966     |   |        |   | 39,220 |   |
|                                                               |   |        |       |   |        |   |   |   |
| COMPREHENSIVE INCOME                                               |   | $           | 296,955    |   |        | $      | 2,789,438 |   |

----

|                                                                          |   | 2010        |       |   | 2009        |   |
|-------------------------------------------------------------------------------|--------|-------------|------------|--------|-------------|--------|
|                                                                          |   | (Unaudited) |       |   | (Unaudited) |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                         |   |        |       |   |        |   |
| Net income                                                                    |   | $           | 366,771    |   |        | $      | 2,865,570 |   |
| Adjustments to reconcile net income to net cash used in operating activities: |   |        |       |   |        |   |   |   |
| Depreciation and amortization                                                 |   |        | 385,654    |   |        |   | 693 |   |
| Bad debt expense                                                              |   |        | -          |   |        |   | 7,509 |   |
| Inventory allowance                                                           |   |        | 46,629     |   |        |   |   |   |
| Loss on equity investments                                                    |   |        | 12,626     |   |        |   | - |   |
| Gain on bargain purchase                                                      |   |        | (1,487,531 | )      |        |   |   |   |
| Gain on sale of subsidiaries                                                  |   |        | -          |   |        |   | (3,200,137 | ) |
| Change in operating assets and liabilities                                    |   |        |       |   |        |   |   |   |
| Accounts receivable - trade                                                   |   |        | 31,380     |   |        |   | (428 | ) |
| Accounts receivable - other                                                   |   |        | 16,916     |   |        |   | - |   |
| Accrued interest receivable                                                   |   |        |       |   |        |   | (7,509 | ) |
| Inventory                                                                     |   |        | -          |   |        |   | 154,476 |   |
| Prepaid expenses                                                              |   |        | (15,290    | )      |        |   | 5,130 |   |
| Prepaid taxes                                                                 |   |        | (25,905    | )      |        |   | (1,900 | ) |
| Accounts payable                                                              |   |        | (61,047    | )      |        |   | 61,205 |   |
| Accrued liabilities and income taxes payable                                  |   |        | (131,392   | )      |        |   | 23,488 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| Net cash used in operating activities                                         |   |        | (861,189   | )      |        |   | (91,903 | ) |
|                                                                          |   |        |       |   |        |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                         |   |        |       |   |        |   |   |   |
| Purchase of fixed assets                                                      |   |        | (13,059    | )      |        |   | - |   |
| Repayments from equity investment                                             |   |        | -          |   |        |   | 3,599 |   |
| Proceeds from disposal of equipment                                           |   |        | -          |   |        |   | 3,051 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| Net cash (used in) provided by investing activities                           |   |        | (13,059    | )      |        |   | 6,650 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                         |   |        |       |   |        |   |   |   |
| Payments on notes payable                                                     |   |        | (4,687     | )      |        |   | - |   |
| Loan proceeds from related parties                                            |   |        | 954,500    |   |        |   | 213,878 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| Net cash provided by financing activities                                     |   |        | 949,813    |   |        |   | 213,878 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| EFFECT OF EXCHANGE RATE                                                       |   |        | 6,722      |   |        |   | 4,832 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| NET INCREASE IN CASH                                                          |   |        | 82,287     |   |        |   | 133,457 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| CASH, BEGINNING OF PERIOD                                                     |   |        | 17,420     |   |        |   | 15,652 |   |
|                                                                          |   |        |       |   |        |   |   |   |
| CASH, END OF PERIOD                                                           |   | $           | 99,707     |   |        | $      | 149,109 |   |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS                              |   |        |       |   |        |   |   |   |
| 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 |   |

----

|                                                              |   | Three months Ended December 31, |       |
|------------------------------------------------------------------------|--------|-----------------------------------------------------|------------|
|                                                                   |   | 2010                                                |       |   | 2009 |   |
|                                                                   |   |                                                |       |   |   |   |
| Revenues                                                               |   | $                                              | 11,971     |   |   | $  | 299,870 |   |
| (Loss)/earnings from continuing operations                             |   | $                                                   | (1,200,760 | ) |   | $ | (1,402,127 | ) |
|                                                                   |   |                                                |       |   |   |   |   |   |
| Basic and diluted (loss)/earnings from continuing operations per share |   | $                                                   | (0.21      | ) |   | $ | 0.02 |   |

----

|                                         |   |   |      |
|----------------------------------------------|--------|--------|-----------|
| 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 income (expense)                       |   |   | (21,941   | ) |
| Income (Loss) from discontinued operations   |   | $      | 3,174,493 |   |

|                                         |   | 2010   |      |   | 2009   |   |
|----------------------------------------------|--------|--------|-----------|--------|--------|--------|
| Basic and diluted loss per share computation |   |   |      |   |   |   |
| Numerator:                                   |   |   |      |   |   |   |
| Net income (loss) from continuing operations |   | $      | 366,771   |   |   | $      | (308,923 | ) |
| Net income from discontinued operations      |   | $      | -         |   |   | $      | 3,174,493 |   |
| Net income                                   |   | $      | 366,771   |   |   | $      | 2,865,570 |   |
|                                         |   |   |      |   |   |   |   |   |
| Denominator:                                 |   |   |      |   |   |   |   |   |
| Weighted average common shares outstanding   |   |   | 5,597,872 |   |   |   | 4,953,617 |   |
| Basic and diluted income (loss) per share:   |   |   |      |   |   |   |   |   |
| From continuing operations                   |   | $      | 0.07      |   |   | $      | (0.06 | ) |
| From discontinued operations                 |   | $      | -         |   |   | $      | 0.64 |   |
| Total                                        |   | $      | 0.07      |   |   | $      | 0.58 |   |

----

|                  |   | 2010        |    |   | 2009        |   |
|-----------------------|--------|-------------|---------|--------|-------------|--------|
|                  |   | (Unaudited) |    |   | (Unaudited) |   |
| Results of operations |   |        |    |   |        |   |   |   |
| Net loss              |   | $           | (25,767 | )      |        | $      | (49,324 | ) |

----

----

----

----

----

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

----

|                         | Teleconnect Inc.                                                      |
|------------------------------|-----------------------------------------------------------------------|
|                         |                                                                  |
| Date: February 22, 2011 | By:                                                         | /s/ Dirk L. Benschop |
|                         | Dirk L. Benschop                                                      |
|                         | Director, Chief  Executive Officer, President and Treasurer |

|                         | Teleconnect Inc.                                                              |
|------------------------------|-------------------------------------------------------------------------------|
|                         |                                                                          |
| Date: February 22, 2011 | By:                                                                      | /s/ Leslie G. Pettitt |
|                         | Leslie G. Pettitt                                                             |
|                         | Director, Chief  Financial Officer and principal accounting officer |

----

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

----