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 December 31, 2001


[ ]         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 DECEMBER 31, 2001

                                 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..............................................9

Item 1.  Legal Proceedings...............................................9

Item 2.  Changes in Securities and Use of Proceeds.......................9

Item 3.  Defaults Upon Senior Securities.................................9

Item 4.  Submission of Matters to a Vote of Security Holders............10

Item 5.  Other Information..............................................10

Item 6.  Exhibits and Reports on Form 8-K...............................10

SIGNATURES..............................................................10


























                                     -1-
<PAGE>

PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS

                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEET
                            AS OF DECEMBER 31, 2001
                                 (UNAUDITED)

ASSETS

CURRENT ASSETS
Cash and cash equivalents                                       $      82,909
Receivables                                                            19,936
Other receivables                                                      31,897
                                                                 ------------
Total Current Assets                                                  134,742
                                                                 ------------
NON CURRENT ASSETS
Property and equipment, net                                           834,182
Investments in media rights, net                                       39,729
                                                                 ------------
Total Non Current Assets                                              873,911
                                                                 ------------
TOTAL ASSETS                                                    $   1,008,653
                                                                 ============

LIABILITIES AND SHARHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses                                  27,796
Due to related parties                                                199,084
                                                                 ------------
Total Liabilities                                                     226,880
                                                                 ------------

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                                          3,719,253
Additional paid-in capital - discount on shares                      (745,470)
Treasury stock - par value (50,000 shares)                                 (5)
Accumulated deficit                                                (1,721,193)
Accumulated other comprehensive loss                                 (471,865)
                                                                   ----------
Total Stockholders' Equity                                            781,773
                                                                 ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                      $   1,008,653
                                                                 ============

       See accompanying notes to unaudited consolidated financial statements.




                                      -2-
<PAGE>

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

                                   Three       Six        Three        Six
                                   months     months      months      months
                                   ending     ending      ending      ending
                                  December    December    December    December
                                  31, 2001    31, 2001    31, 2000    31, 2000
                                 ---------   ---------   ---------   ---------

REVENUES                            73,839     137,910           0           0
Cost of sales                       54,378      85,515           0           0
                                 ---------   ---------   ---------   ---------
Gross Profit                        19,461      52,395           0           0
                                 ---------   ---------   ---------   ---------
EXPENSES:
Accounting and auditing              3,525       7,210       6,184       9,716
Advertising and promotion                0       2,443         600       1,145
Amortisation                        12,800      25,661      13,475      27,735
Banking                                 83         286          42         112
Consulting expense                  30,721      52,325     115,117     139,309
Convention expenses                  1,381      21,725         983       1,011
Corporate Administration               175       1,009         428         660
Depreciation                           928       1,357      14,486      29,261
Directors fees                       2,560       2,566           0           0
Engineering                         20,612      34,237       2,093       5,929
Interest                                 0           0           0           0
Marketing expense                        0           0         650         843
Officers' compensation              18,431      35,433      18,477      37,485
Other employee compensation              0           0       8,399       8,399
Office expenses, rent and
 utilities                           7,900      15,583       2,842       3,809
Professional fees                        0       1,037           0           0
Travel                               5,852      24,516           0       4,329
                                 ---------   ---------   ---------   ---------
Total Expenses                     104,968     225,388     183,776     269,743
                                 ---------   ---------   ---------   ---------
NET LOSS                         $ (85,507)  $(172,993)  $(183,776)  $(269,743)
                                 =========   =========   =========   =========
OTHER COMPREHENSIVE
 INCOME (LOSS)
Foreign currency translation
 gains (losses)                     32,989        (862)     23,727     (79,367)
                                 ---------   ---------   ---------   ---------
COMPREHENSIVE LOSS               $ (52,518)  $(173,855)  $(160,049) $ (349,110)
                                ==========   =========   =========   =========
Weighted average number of
 shares outstanding during
 the period                     10,529,018   9,133,693   6,344,587   6,294,587
                                 =========   =========   =========   =========
Net Loss per common share
 and equivalents                 $  (0.008)  $  (0.019)  $  (0.029)  $  (0.043)
                                 =========   =========   =========   =========

      See accompanying notes to unaudited consolidated financial statements.


                                      -3-
<PAGE>

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


                                           Six                 Six
                                          months              months
                                          ending              ending
                                         December            December
                                         31, 2001            31, 2000
                                        ---------           ---------

Cash flows from operating
activities:
Net Loss                               $ (172,993)        $  (269,743)
                                       ----------        ------------
Adjustments to reconcile net
loss to net cash provided by
operating activities:
Depreciation                                1,357              29,261
Amortisation                               25,661              27,735
Compensatory stock issuances                    0             100,000

Changes in operating assets
and liabilities:
(Increase) decrease in:
Trade accounts receivable                  26,085                   0
Other Receivables                         (31,400)              2,975

Increase (decrease) in:
Accounts payable and accrued
expenses                                   (9,365)             (6,139)
                                       ----------          ----------
Total adjustments to reconcile
net loss to cash provided by
operating activities:                      12,338             153,832
                                       ----------          ----------
Net cash used in operating
activities                               (160,655)           (115,911)
                                       ----------          ----------
Cash flow from investing
activities:

(Increase) decrease in plant
and equipment                             (11,708)                  0
                                       ----------          ----------
Net cash provided by (used in)
investing activities                      (11,708)                  0
                                       ----------          ----------

       See accompanying notes to unaudited consolidated financial statements.






                                       -4-
<PAGE>

                   ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                (UNAUDITED)
                                        Six months         Six months
                                          ending             ending
                                        December 31,       December 31,
                                           2001                2000
                                        ---------           ---------
Cash flow from financing
activities:
Increase (decrease) in loans
payable - bank                                  0                   0
Increase (decrease) in amount
due to related parties                     24,691              78,777

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

Net cash from financing
activities                                 26,775              80,027
                                       ----------          ----------

Effect of exchange rate
changes on cash                            (3,209)             (6,226)
                                       ----------          ----------
Net increase (decrease) in
 cash                                    (148,797)            (42,110)
                                       ----------          ----------
CASH AND CASH EQUIVALENTS
 AT BEGINNING OF PERIOD                   231,706              48,718
                                       ----------          ----------
CASH AND CASH EQUIVALENTS
 AT END OF PERIOD                      $   82,909          $    6,608
                                       ==========          ==========


       See accompanying notes to unaudited consolidated financial statements.



















                                      -5-
<PAGE>

                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                            NOTES TO BALANCE SHEET
                           AS OF DECEMBER 31, 2001
                                 (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 DECEMBER 31, 2001
                              (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 $1,721,000 at December 31, 2001 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 DECEMBER 31, 2001
                              (UNAUDITED)

Note 4. Issuance of common stock

During the three month ended December 31, 2001, the Company issued 4,167
shares of common stock at $0.50 per share.  As a result, the Company has taken
up Common Stock of $1 and Additional Paid-In Capital of $2,084.



Note 5. Revenue

ASI receives revenue under a consulting arrangement with AirTV Limited which
totalled $73,839 in the three months ended December 31, 2001.








































                                       -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 December
31, 2001 and the Form 10-KSB for the fiscal year ended June 30, 2001.

RESULTS AND PLAN OF OPERATIONS

THREE MONTHS ENDED DECEMBER 31, 2001 COMPARED TO THREE MONTHS ENDED DECEMBER
31, 2000

Revenue in the three month period ended December 31, 2001 was $73,839 with
cost of sales of $54,378, giving a gross profit of $19,461.  No sales were
made in the comparable three month period ending December 31, 2000.

The Company had a net loss of $85,507 in the three month period ended
December 31, 2001 compared to a net loss of $183,776 in the three month period
ended December 31, 2000.  Expenses decreased from $183,776 in the three months
ended December 31, 2000 to $104,968 in the three months ended December 31,
2001 due to lower consulting expenses and depreciation, but after higher
engineering and travel costs.

The Company had a foreign currency translation gain of $32,989 for the three
months ended December 31, 2001 compared to a foreign currency translation
gain of $23,727 for the three month period ended December 31, 2000.  As a
result, the Company recorded a comprehensive loss of $52,518 for the three
month period ended December 31, 2001 compared to a comprehensive loss of
$160,049 for the three month period ended December 31, 2000.


SIX MONTHS ENDED DECEMBER 31, 2001 COMPARED TO SIX MONTHS ENDED DECEMBER
31, 2000

Revenue in the six month period ended December 31, 2001 was $137,910 with
cost of sales of $85,515, giving a gross profit of $52,395.  No sales were
made in the comparable six month period ending December 31, 2000.

The Company had a net loss of $172,993 in the six month period ended
December 31, 2001 compared to a net loss of $269,743 in the six month period
ended December 31, 2000.  Expenses decreased from $269,743 in the six months
ended December 31, 2000 to $225,388 in the six months ended December 31,
2001 due to lower consulting expenses and depreciation, but after higher
convention, office, engineering and travel costs.

The Company had a foreign currency translation loss of $862 for the six
months ended December 31, 2001 compared to a foreign currency translation
loss of $79,367 for the six month period ended December 31, 2000.  As a
result, the Company recorded a comprehensive loss of $173,855 for the six
month period ended December 31, 2001 compared to a comprehensive loss of
$349,110 for the six month period ended December 31, 2000.


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 $82,909 at December 31, 2001, as a result of operating losses.

The Company incurred a net loss of $172,993 from operating activities for the
period for the period July 1, 2001 to December 31, 2001 primarily due to
amortization, consulting fees, convention expenses, engineering, officers'
compensation and travel expenses.

The Company received revenues of $137,910 for the six months ending December
31, 2001 under consulting arrangements with AirTV.

The cash flow of the Company from financing activities for the six months
ending December 31, 2001 was mainly from an increase of amounts due to related
parties of $26,775.

The only investing activities of the Company for the six months ending
December 31, 2001 was asset purchases of $11,708.

The Company's marketing plan anticipates that the Company will install and
maintain the ASI-9000 and Data3Mail programs on commercial airlines with
little or no cost to the airline.  The Company will receive revenues from
communications and from the sale of the advertising space available on the
video and audio programs as well as other forms as developed.  This marketing
plan requires significant initial capital from the Company for the production,
acquisition, installation and maintenance of the ASI-9000 and Data3Mail
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 ASI-9000 and
Data3Mail equipment and integration technology.  The cost to the Company for
installation of the ASI-9000 or Data3Mail, 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 ASI-9000 and Data3Mail.


PART II OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 2. CHANGES IN SECURITIES

None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None


                                      -9-
<PAGE>

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

None

ITEM 5. OTHER INFORMATION

The Company has extended its agreement with AirTV for a further period of 12
months. Under the Agreement, ASI manages AirATV's Email and internet programs
and provides technical support for AirTV's airline marketing program.  AirTV
has also licensed ASI's Data3mail software and hardware.

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             2/18/2002





By:    /s/
Philip A.  Shiels             Principal Financial Officer        2/18/2002

                                    and Director





By:    /s/
Graham O. Chappell                Director                       2/18/2002





                                     -10-
<PAGE>