FILED AS OF DATE:

FILER:

	COMPANY DATA:
		COMPANY CONFORMED NAME:			ASI ENTERTAINMENT INC
		CENTRAL INDEX KEY:			0001067873
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT PART & AUXILIARY
                                                 EQUIPMENT, NEC [3728]
		IRS NUMBER:				522101695
		STATE OF INCORPORATION:		DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		10QSB
		SEC ACT:
		SEC FILE NUMBER:	000-27881
		FILM NUMBER:	544289

	BUSINESS ADDRESS:
		STREET 1:		1601 MAIN ROAD SUITE 2
		STREET 2:
		CITY:			RESEARCH
		STATE:		VICTORIA
		ZIP:			3095
		COUNTRY:		AUSTRALIA
		BUSINESS PHONE:	61 3 9437 1233

	MAIL ADDRESS:
		STREET 1:		79 TAMI RD
		STREET 2:
		CITY:			RED FEATHER LAKES
		STATE:		CO
		ZIP:			80545










                               UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                             FORM 10-QSB
(Mark One)
            QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                   SECURITIES EXCHANGE ACT OF 1934
            For the quarterly period ended March 31, 2002


[ ]         TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
            EXCHANGE ACT


                  Commission file number  333-61259

                  ASI ENTERTAINMENT, INC.
(Exact name of small business issuer as specified in its charter)


      Delaware                                   522101695
(State or other jurisdiction of        (IRS Employer Identification No.)
incorporation or organization)

                             Suite 2, 1601 Main Road
                        Research, Victoria, 3095, Australia
                      (Address of principal executive offices)

                              (613) 9437 1233
                      (Issuer's telephone number)

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

             APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be
filed by Section l2, 13 or 15(d) of the Exchange Act after the distribution of
securities under a plan confirmed by a court. Yes [ ] No [ ]

                  APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date: 10,530,101

Transitional Small Business Disclosure Format (Check one): Yes [ ] No [ ]


<PAGE>


                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES


                               FORM 10-QSB

                    FOR THE QUARTER ENDED MARCH 31, 2002

                                 INDEX

PART I.     FINANCIAL INFORMATION........................................2

Item 1.  Financial
         Statements......................................................2

Item 2.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations.......................................9

PART II:  OTHER INFORMATION.............................................11

Item 1.  Legal Proceedings..............................................11

Item 2.  Changes in Securities and Use of Proceeds......................11

Item 3.  Defaults Upon Senior Securities................................11

Item 4.  Submission of Matters to a Vote of Security Holders............11

Item 5.  Other Information..............................................11

Item 6.  Exhibits and Reports on Form 8-K...............................11

SIGNATURES..............................................................11


























                                     -1-
<PAGE>

PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS

                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEET
                            AS OF MARCH 31, 2002
                                 (UNAUDITED)

ASSETS

CURRENT ASSETS
Cash and cash equivalents                                       $      41,756
Receivables                                                            19,826
Other receivables                                                      34,424
                                                                 ------------
Total Current Assets                                                   96,006
                                                                 ------------
NON CURRENT ASSETS
Property and equipment, net                                           869,746
Investments in media rights, net                                       28,121
                                                                 ------------
Total Non Current Assets                                              897,867
                                                                 ------------
TOTAL ASSETS                                                    $     993,873
                                                                 ============

LIABILITIES AND SHARHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses                                  40,085
Due to related parties                                                223,198
                                                                 ------------
Total Liabilities                                                     263,283
                                                                 ------------

STOCKHOLDERS' EQUITY
Preferred stock $0.0001 par value, 20,000,000
 shares authorized, non issued and outstanding                    $         0

Common stock, $0.0001 par value, 100,000,000
 shares authorized, 10,530,101 shares issued
 and outstanding                                                        1,053
Additional paid-in capital                                          3,719,252
Additional paid-in capital - discount on shares                      (745,470)
Treasury stock - par value (50,000 shares)                                 (5)
Accumulated deficit                                                (1,811,332)
Accumulated other comprehensive loss                                 (432,908)
                                                                   ----------
Total Stockholders' Equity                                            730,590
                                                                 ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                      $     993,873
                                                                 ============

       See accompanying notes to unaudited consolidated financial statements.




                                      -2-
<PAGE>

                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (UNAUDITED)

                                   Three       Nine        Three       Nine
                                   months      months      months      months
                                   ending      ending      ending      ending
                                   March       March       March       March
                                  31, 2002    31, 2002    31, 2001    31, 2001
                                 ---------   ---------   ---------   ---------

REVENUES                            58,995     196,970      16,189      16,641
Cost of sales                       29,751     115,356           0           0
                                 ---------   ---------   ---------   ---------
Gross Profit                        29,244      81,614      16,188      16,641
                                 ---------   ---------   ---------   ---------
EXPENSES:
Accounting and auditing              4,167      11,377       1,711      11,386
Advertising and promotion              294       2,742         100       1,238
Amortisation                        12,970      38,629      13,312      41,055
Banking                                135         422          43         154
Consulting expense                  26,459      69,568      20,403     159,713
Convention expenses                  1,427      23,027           0         998
Corporate Administration             1,302       2,312       1,078       1,738
Depreciation                           940       2,295      14,311      43,588
Directors fees                           0       2,575           0           0
Engineering                         24,816      58,966         214       6,070
Interest                                 0           0           0           0
Marketing expense                        0           0           0         194
Officers' compensation              12,451      57,049      16,032      53,516
Other employee compensation              0           0           0       8,399
Office expenses, rent and
 utilities                           6,398      22,038       1,002       4,790
Professional fees                      873       1,908           0         650
Travel                              27,151      51,552       2,295       6,631
                                 ---------   ---------   ---------   ---------
Total Expenses                     119,383     344,460      70,501     340,120
                                 ---------   ---------   ---------   ---------
NET LOSS                         $ (90,139)  $(262,846)  $ (54,313)  $(323,479)
                                 =========   =========   =========   =========
OTHER COMPREHENSIVE
 INCOME (LOSS)
Foreign currency translation
 gains (losses)                     37,233      38,095    (126,198)  (204,968)
                                 ---------   ---------   ---------   ---------
COMPREHENSIVE LOSS               $ (52,906)  $(224,751)  $(180,511) $ (528,447)
                                ==========   =========   =========   =========
Weighted average number of
 shares outstanding during
 the period                     10,530,101   9,134,569   6,344,587   6,319,587
                                 =========   =========   =========   =========
Net Loss per common share
 and equivalents                 $  (0.009)  $  (0.029)  $  (0.009)  $  (0.051)
                                 =========   =========   =========   =========

      See accompanying notes to unaudited consolidated financial statements.


                                      -3-
<PAGE>

                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                (UNAUDITED)


                                          Nine                Nine
                                          months              months
                                          ending              ending
                                          March               March
                                         31, 2002            31, 2001
                                        ---------           ---------

Cash flows from operating
activities:
Net Loss                               $ (262,846)        $  (323,479)
                                       ----------        ------------
Adjustments to reconcile net
loss to net cash provided by
operating activities:
Depreciation                                2,295              43,588
Amortisation                               38,629              41,055
Compensatory stock issuances                    0             100,000

Changes in operating assets
and liabilities:
(Increase) decrease in:
Trade accounts receivable                  26,195                   0
Other Receivables                         (33,927)              2,368

Increase (decrease) in:
Accounts payable and accrued
expenses                                    2,924              (7,448)
                                       ----------          ----------
Total adjustments to reconcile
net loss to cash provided by
operating activities:                      36,116             179,563
                                       ----------          ----------
Net cash used in operating
activities                               (226,730)           (143,916)
                                       ----------          ----------
Cash flow from investing
activities:

(Increase) decrease in plant
and equipment                             (12,857)                  0
                                       ----------          ----------
Net cash provided by (used in)
investing activities                      (12,857)                  0
                                       ----------          ----------

       See accompanying notes to unaudited consolidated financial statements.






                                       -4-
<PAGE>

                   ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                (UNAUDITED)
                                       Nine months          Nine months
                                         ending              ending
                                        March 31,           March 31,
                                           2002                2001
                                        ---------           ---------
Cash flow from financing
activities:
Increase (decrease) in loans
payable - bank                                  0                   0
Increase (decrease) in amount
due to related parties                     48,805              96,654

Proceeds from issuance of
common stock, net                         127,084               1,250
Common stock subscription payable        (125,000)                  0
                                        ---------          ----------

Net cash from financing
activities                                 50,889              97,904
                                       ----------          ----------

Effect of exchange rate
changes on cash                            (1,252)                959
                                       ----------          ----------
Net increase (decrease) in
 cash                                    (189,950)            (45,053)
                                       ----------          ----------
CASH AND CASH EQUIVALENTS
 AT BEGINNING OF PERIOD                   231,706              48,718
                                       ----------          ----------
CASH AND CASH EQUIVALENTS
 AT END OF PERIOD                      $   41,756          $    3,665
                                       ==========          ==========


       See accompanying notes to unaudited consolidated financial statements.



















                                      -5-
<PAGE>

                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                            NOTES TO BALANCE SHEET
                           AS OF MARCH 31, 2002
                                 (UNAUDITED)

Note 1. Summary of Significant Accounting Policies

Principles of Consolidation

The accompanying unaudited consolidated financial statements include the
accounts of ASI Entertainment, Inc. and its wholly owned subsidiaries, ASI
Technologies, Inc. and ASI Entertainment Pty. Ltd., an Australian corporation.
ASI Media Pty. Ltd., an inactive wholly owned subsidiary of the Australian
corporation is also included.  (All entities are collectively referred to as
"the Company").


Basis of Presentation

The accompanying unaudited consolidated financial statements of the Company
have been prepared in accordance with Generally Accepted Accounting Principles
used in the United States and with the rules and regulations of the United
States Securities and Exchange Commission for the interim financial
information.  Accordingly, they do not include all the information and
footnotes necessary for a comprehensive presentation of financial position and
results of operations.

Adjustments are made to convert the statutory financial statements of the
Company's Australian subsidiaries to Generally Accepted Accounting Principles
used in the United States.  The functional currency of the Company's
Australian subsidiary is the Australian dollar.  The functional currency of
the United States entities is the United States dollar.  The unaudited
consolidated financial statements are expressed in United States dollars.  It
is management's opinion that all other material adjustments (consisting of
normal recurring adjustments) have been made which are necessary for a fair
consolidated financial statement presentation.  The results for the interim
period are not necessarily indicative of the results to be expected for the
year.

For further information, refer to the consolidated financial statements and
footnotes of ASI Entertainment Pty. Ltd. and ASI Entertainment, Inc. included
in the Company's Form 10KSB for the year ended June 30, 2001.

Per Share Data

Net loss per common share is computed by dividing net loss by the weighted
average common shares outstanding during the period as defined by Financial
Accounting Standards, No. 128, "Earnings per Share".  The assumed exercise of
common share equivalents was not utilized since the effect was anti-dilutive.









                                      -6-
<PAGE>

                   ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                           NOTES TO BALANCE SHEET
                          AS OF MARCH 31, 2002
                              (UNAUDITED)

Note 2. Acquisition

On July 1, 1998, the Company acquired all of the issued and outstanding common
stock and stock options of ASIE in exchange for common stock and common stock
options of the Company. Under the terms of the agreement, ASIE's outstanding
shares and options were exchanged at a ratio of one share and one option of the
Company for every eight shares and eight options of ASIE. As a result of the
exchange, ASIE and its wholly owned inactive subsidiary, ASI Media became
wholly owned subsidiaries of the Company, and the shareholders of ASIE received
5,293,990 shares and became shareholders of 92.7% of the Company. Generally
accepted accounting principles require that the Company whose shareholders
retain a majority interest in a combined business be treated as the acquiror
for accounting purposes. As a result, the merger was treated as an acquisition
of the Company by ASIE, and a recapitalization of ASIE. Accordingly, the
Company's balance sheet consists of ASIE's net assets and the Company's net
assets at historical cost, and the statement of operations includes ASIE's
operations for the period presented and the operations of the Company from the
date of acquisition. As a result of the acquisition, the Company obtained
417,189 shares previously issued to the prior shareholders of ASI
Entertainment, Inc., resulting in a total of 5,711,179 shares issued and
outstanding subsequent to the acquisition.


Note 3. Going Concern

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern.  As such, they do not include
adjustments relating to the recoverability of recorded asset amounts and
classification of recorded assets and liabilities.  The Company had
accumulated losses of approximately $1,811,000 at March 31, 2002 and will
be required to make significant expenditure in connection with continuing
engineering and marketing efforts along with general and administrative
expenses.  The Company's ability to continue its operations is dependant upon
its raising of capital through debt or equity financing in order to meet its
working needs.

These conditions raise substantial doubt about the Company's ability to
continue as a going concern subsequent to the acquisition, and if substantial
additional funding is not acquired or alternative sources developed,
management will be required to curtail its operations.

The Company may raise additional capital by the sale of its equity securities,
through an offering of debt securities, or from borrowing from a financial
institution.  The Company does not have a policy on the amount of borrowing or
debt that the Company can incur.  The Company may also attempt to negotiate
with vendors or customers, airline revenue sharing arrangements by which the
Company will share the advertising revenue if the vendor or customer airline
provide capital for the equipment.  Management believes that actions presently
being taken to obtain additional funding provides the additional opportunity
for the Company to continue as a going concern.



                                      -7-
<PAGE>


                     ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                           NOTES TO BALANCE SHEET
                          AS OF MARCH 31, 2002
                              (UNAUDITED)

Note 4. Revenue

ASI receives revenue under a consulting arrangement with AirTV Limited which
totalled $58,995 in the three months ended March 31, 2002.















































                                       -8-
<PAGE>

PART 1. FINANCIAL INFORMATION

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The following discussion should be read in conjunction with the accompanying
consolidated financial statements for the three-month period ended March
31, 2002 and the Form 10-KSB for the fiscal year ended June 30, 2001.

RESULTS AND PLAN OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2002 COMPARED TO THREE MONTHS ENDED MARCH
31, 2001

Revenue in the three month period ended March 31, 2002 was $58,995 with
cost of sales of $29,751, giving a gross profit of $29,244.  In the comparable
three month period ending March 31, 2001, revenue and gross profit of $16,189
were recorded.

The Company had a net loss of $90,139 in the three month period ended
March 31, 2002 compared to a net loss of $54,313 in the three month period
ended March 31, 2001.  Expenses increased from $70,501 in the three months
ended March 31, 2001 to $119,383 in the three months ended March 31,
2002 due to higher consulting, engineering, office and travel expenses but
after lower depreciation.

The Company had a foreign currency translation gain of $37,233 for the three
months ended March 31, 2002 compared to a foreign currency translation
loss of $126,198 for the three month period ended March 31, 2001.  As a
result, the Company recorded a comprehensive loss of $52,906 for the three
month period ended March 31, 2002 compared to a comprehensive loss of
$180,511 for the three month period ended March 31, 2001.


NINE MONTHS ENDED MARCH 31, 2002 COMPARED TO NINE MONTHS ENDED MARCH
31, 2001

Revenue in the nine month period ended March 31, 2002 was $196,970 with
cost of sales of $115,356, giving a gross profit of $81,614.  Revenue and
gross profit of $16,641 were recorded in the nine month period ending March
31, 2001.

The Company had a net loss of $262,846 in the nine month period ended
March 31, 2002 compared to a net loss of $323,479 in the nine month period
ended March 31, 2001.  Expenses increased from $340,120 in the nine months
ended March 31, 2001 to $344,460 in the nine months ended March 31,
2002 due to higher convention, engineering, office and travel expenses, but
after lower consulting and depreciation costs.

The Company had a foreign currency translation gain of $38,095 for the nine
months ended March 31, 2002 compared to a foreign currency translation
loss of $204,968 for the nine month period ended March 31, 2001.  As a
result, the Company recorded a comprehensive loss of $224,751 for the nine
month period ended March 31, 2002 compared to a comprehensive loss of
$528,447 for the nine month period ended March 31, 2001.


                                      -9-
<PAGE>


LIQUIDITY AND CAPITAL RESOURCES

The Company has used the proceeds from the sale of the securities of ASI
Entertainment Pty. Ltd. (prior to becoming a subsidiary) and from subsequent
capital raisings, for payment of operating costs to date.

The Company's cash and cash equivalents decreased from $231,706 at July 1,
2001, to $41,756 at March 31, 2002, as a result of operating losses.

The Company received revenues of $196,970 for the nine months ending March
31, 2002 compared with revenue of $16,641 in the corresponding period in 2001.

The Company incurred a net loss of $262,846 from operating activities for the
period for the period July 1, 2001 to March 31, 2002 primarily due to
amortization, consulting fees, engineering, officers' compensation and travel
expenses.

The cash flow of the Company from financing activities for the nine months
ending March 31, 2002 was mainly from an increase of amounts due to related
parties of $48,805.

The only investing activities of the Company for the nine months ending
March 31, 2002 was asset purchases of $12,857.

The Company's marketing plan anticipates that the Company will install and
maintain the Data3Mail and Air Commerce (ASI-9000) programs on commercial
airlines with little or no cost to the airline.  Data3Mail is based on ASI's
flight proven software and hardware platform, developed in conjunction with
the major providers of satellite communications and ground based
infrastructure for the airline industry.  Once ASI has established a Data3Mail
program with an airline, there will then be the opportunity to provide the Air
Commerce program which accommodates a database of destination information and
allows in-flight bookings and reservations.  The Company will receive revenues
from communications and from the sale of destination advertising.  This
marketing plan requires significant initial capital from the Company for the
production, acquisition, installation and maintenance of the Data3Mail and Air
Commerce programs possibly before any revenues are received.  The Company may
not have sufficient funds to purchase or install the equipment in which case
the Company will have to seek additional capital.  The Company may raise
additional capital by the sale of its equity securities, through an offering
of debt securities, or from borrowing from a financial institution.  The
Company does not have a policy on the amount of borrowing or debt that the
Company can incur.  The Company may also attempt to negotiate with vendors or
customer airlines revenue sharing arrangements by which the Company will share
the revenue if the vendor or customer airline provide capital for the
equipment.  The Company subcontracts the production of the Data3Mail and
Air Commerce equipment and integration technology.  The cost to the Company
for installation of the Data3Mail or Air Commerce, excluding the hardware, is
$5,000 to $10,000 per aircraft.  The Company may in cases, need to pay the
expenses of the installation of the Data3Mail and Air Commerce.

                                      -10-
<PAGE>


PART II OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 2. CHANGES IN SECURITIES

None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

None


SIGNATURES

In accordance with the Exchange Act, the registrant has duly caused this
report to be signed on its behalf by the undersigned thereunto duly
authorized.


ASI ENTERTAINMENT, INC.


  SIGNATURE                   TITLE                               DATE



By:    /s/
Ronald J. Chapman             President and Director             5/14/2002



By:    /s/
Philip A.  Shiels             Principal Financial Officer        5/14/2002

                                    and Director



By:    /s/
Graham O. Chappell                Director                       5/14/2002

                                     -11-
<PAGE>