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:		FACTORY 2, 2 CANDLEBARK COURT
		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, 2003


[ ]         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)

                             Factory 2, 12 Candlebark Court
                        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: 11,184,427

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

<PAGE>



                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES


                               FORM 10-QSB

                    FOR THE QUARTER ENDED MARCH 31, 2003

                                 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.......................................8

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................................10

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

Item 7.  Controls and Procedures........................................10

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

CERTIFICATIONS..........................................................12














                                     -1-
<PAGE>



PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS

                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEET
                            AS OF MARCH 31, 2003
                                 (UNAUDITED)

ASSETS

CURRENT ASSETS
Cash and cash equivalents                                        $     42,085
Receivables                                                            54,733
Other receivables                                                      48,325
                                                                 ------------
Total Current Assets                                                  145,143
                                                                 ------------
NON CURRENT ASSETS
Property and equipment, net                                           977,537
Investment in media rights, net                                             0
                                                                 ------------
Total Non Current Assets                                              977,537
                                                                 ------------
TOTAL ASSETS                                                    $   1,122,680
                                                                 ============

LIABILITIES AND SHARHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses                                  42,602
Due to related parties                                                283,002
Stock subscriptions payable                                           128,907
                                                                 ------------
Total Liabilities                                                     454,511
                                                                 ------------

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, 11,184,427 shares issued
 and outstanding                                                        1,119
Additional paid-in capital                                          4,072,045
Additional paid-in capital - discount on shares                      (745,470)
Treasury stock - par value (50,000 shares)                                 (5)
Accumulated deficit                                                (2,359,169)
Accumulated other comprehensive loss                                 (300,351)
                                                                   ----------
Total Stockholders' Equity                                            668,169
                                                                 ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                      $   1,122,680
                                                                 ============

       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, 2003   31, 2003    31, 2002    31, 2002
                                 ---------   ---------   ---------   ---------

REVENUES                               986      48,506      58,995     196,970
Cost of sales                            0        (180)    (29,751)   (115,356)
Interest income                          0          11           0           0
                                 ---------   ---------   ---------   ---------
Gross Profit                           986      48,337      29,244      81,614
                                 ---------   ---------   ---------   ---------
EXPENSES:
Accounting and auditing              1,713      11,547       4,167      11,377
Advertising and promotion              561         535         294       2,742
Amortisation                             0      15,663      12,970      38,629
Banking                                195         520         135         422
Consulting expense                   8,550     142,488      26,459      69,568
Convention expenses                  4,579      16,423       1,427      23,027
Corporate Administration               462       3,905       1,302       2,312
Depreciation                         1,074       3,076         940       2,295
Directors fees                           0           0           0       2,575
Engineering                         32,097      76,337      24,816      58,966
Interest                                 0         141           0           0
Management fee                      44,461     118,198           0           0
Marketing expense                      809         772           0           0
Officers' compensation               7,329      16,261      12,451      57,049
Office expenses, rent and
 utilities                           7,259      18,812       6,398      22,038
Professional fees                      250         250         873       1,908
Travel                               9,984      26,034      27,151      51,552
                                 ---------   ---------   ---------   ---------
Total Expenses                     119,323     450,962     119,383     344,460
                                 ---------   ---------   ---------   ---------
NET PROFIT/(LOSS)                $(118,337)  $(402,625)  $ (90,139)  $(262,846)
                                 =========   =========   =========   =========
OTHER COMPREHENSIVE
 INCOME (LOSS)
Foreign currency translation
 gains (losses)                     84,656      87,874      37,233      38,095
                                 ---------   ---------   ---------   ---------
COMPREHENSIVE LOSS              $  (33,681)  $(314,751)  $ (52,906)  $(224,751)
                                ==========   =========   =========   =========
Weighted average number of
 shares outstanding during
 the period                     11,140,30710,901,014  10,530,101   9,134,569
                                 =========   =========   =========   =========
Net Loss per common share
 and equivalents                 $  (0.011)  $  (0.037)  $  (0.009)  $  (0.029)
                                 =========   =========   =========   =========

      See accompanying notes to unaudited consolidated financial statements.


                                      -3-
<PAGE>
<PAGE>


                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                (UNAUDITED)
<TABLE>
<CAPTION>
                                       Nine months         Nine months
                                         ending              ending
                                         March 31,           March 31,
                                           2003               2002
                                        ---------           ---------
<S>                                  <C>                 <C>
Cash flows from operating
activities:
Net Loss                                 (402,625)       $   (262,846)
                                     ------------        ------------
Adjustments to reconcile net
loss to net cash provided by
operating activities:
Depreciation                                3,077               2,295
Amortisation                               15,633              38,629
Compensatory stock issuances              152,172                   0

Changes in operating assets
and liabilities:
(Increase) decrease in:
Trade accounts receivable                 (34,733)             26,195
Other Receivables                             107            (33,927)

Increase (decrease) in:
Accounts payable and accrued
expenses                                   (3,334)              2,924
                                       ----------          ----------
Total adjustments to reconcile
net loss to cash provided by
operating activities:                     132,922              36,116
                                       ----------          ----------
Net cash used in operating
activities                               (269,703)           (226,730)
                                       ----------          ----------
Cash flow from investing
activities:

(Increase) decrease in plant
and equipment                              (2,350)            (12,857)
                                       ----------          ----------
Net cash provided by (used in)
investing activities                       (2,350)            (12,857)
                                       ----------          ----------
Cash flow from financing
activities:
Increase (decrease) in amount
due to related parties                     23,321              48,805


</TABLE>
       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,
                                           2003              2002
                                        ---------           ---------

Proceeds from issuance of
common stock, net                         139,094             127,084
Common stock subscription payable         128,908            (125,000)
                                        ---------          ----------

Net cash from financing
activities                                291,323              50,889
                                       ----------          ----------

Effect of exchange rate
changes on cash                            14,334              (1,252)
                                       ----------          ----------
Net increase (decrease) in
 cash                                      33,604           (189,950)
                                       ----------          ----------
CASH AND CASH EQUIVALENTS
 AT BEGINNING OF PERIOD                     8,482             231,706
                                       ----------          ----------
CASH AND CASH EQUIVALENTS
 AT END OF PERIOD                          42,086          $   41,756
                                       ==========          ==========


       See accompanying notes to unaudited consolidated financial statements.


















                                      -5-
<PAGE>


                    ASI ENTERTAINMENT, INC. AND SUBSIDIARIES
                            NOTES TO BALANCE SHEET
                           AS OF MARCH 31, 2003
                                 (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".  All intercompany accounts and transactions have been
eliminated in consolidation.


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, 2002.

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, 2003
                              (UNAUDITED)

Note 2. 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 $2,359,000 at March 31, 2003 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.


Note 3. Issuance of common stock

During the three month period ended March 31, 2003, the Company issued
73,240 shares of common stock.  As a result, the Company has taken up Common
Stock of $7.50 and Additional Paid-In Capital of $41,007.  During the three
month period ended March 31, 2003, the Company made a compensatory issue of
15,000 shares of common stock at $0.57 per share.  As a result, the Company
has taken up Common Stock of $1.50 and Additional Paid-In Capital of $8,548.
The Company issued 30,000 stock options in the three months ended March 31,
2003, exercisable on or before June 30, 2005 at a price of $0.50 per share.
As a result of the issue of the stock options, $9,684 has been taken up as
Additional Paid-In Capital





                                      -7-
<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, 2003 and the Form 10-KSB for the fiscal year ended June 30, 2002.

RESULTS AND PLAN OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2003 COMPARED TO THREE MONTHS ENDED MARCH
31, 2002

Revenue and Gross profit in the three month period ended March 31, 2003 was
$986.  In the corresponding three month period ended March 31, 2002
revenue was $58,995 with cost of sales of $29,751, giving a gross profit of
$29,244.

The Company had a net loss of $118,337 in the three month period ended
March 31, 2003 compared to a net loss of $90,139 in the three month period
ended March 31, 2002.  Expenses decreased from $119,383 in the three months
ended March 31, 2002 to $119,322 in the three months ended March 31,
2003.

The Company had a foreign currency translation gain of $84,656 for the three
months ended March 31, 2003 compared to a foreign currency translation
gain of $37,233 for the three month period ended March 31, 2002.  As a
result, the Company recorded a comprehensive loss of $33,681 for the three
month period ended March 31, 2003 compared to a comprehensive loss of
$52,906 for the three month period ended March 31, 2002.

NINE MONTHS ENDED MARCH 31, 2003 COMPARED TO NINE MONTHS ENDED MARCH
31, 2002

Revenue in the nine month period ended March 31, 2003 was $48,506 and gross
profit of $48,337.  In the corresponding nine month period ended March 31,
2002 revenue was $196,970 with cost of sales of $115,356, giving a gross
profit of $81,614.

The Company had a net loss of $402,625 in the nine month period ended
March 31, 2003 compared to a net loss of $262,846 in the nine month period
ended March 31, 2002.  Expenses increased from $344,460 in the nine months
ended March 31, 2002 to $450,962 in the nine months ended March 31,
2003 due to higher consulting, management and engineering expenses but after
lower amortization, officers compensation and travel costs.

The Company had a foreign currency translation gain of $87,874 for the nine
months ended March 31, 2003 compared to a foreign currency translation
gain of $38,095 for the nine month period ended March 31, 2002.  As a
result, the Company recorded a comprehensive loss of $314,751 for the nine
month period ended March 31, 2003 compared to a comprehensive loss of
$224,751 for the nine month period ended March 31, 2002.


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.


                                      -8-
<PAGE>


The Company's cash and cash equivalents increased from $8,482 at July 1, 2002,
to $42,086 at March 31, 2003, as a result of increased advances from related
parties and funds received as subscription for common stock.

The Company incurred a net loss of $402,625 from operating activities for the
period for the period July 1, 2002 to March 31, 2003 primarily due to
 consulting fees, engineering and management fees.  The
net cash outlay from operations was reduced as a result of a compensatory
stock issue which reduced the cash impact of the operating loss.

The Company recorded revenue of $48,506 for the nine months ending March
31, 2003 under consulting arrangements with AirTV.

The cash flow of the Company from financing activities for the nine months
ending March 31, 2003 was from increased advances from related parties,
proceeds from the issuance of common stock and funds received as subscription
for common stock.

The only investing activities of the Company for the nine months ending
March 31, 2003 was asset purchases of $2,350.

The Company's marketing plan anticipates that the Company will install and
maintain the Data3Mail and Air Commerce (ASI-9000) programs on commercial
airlines.  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 AirCommerce program which accommodates a
database of destination information and allows in-flight bookings and
reservations.  The Company will receive revenues from communications and from
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 AirCommerce 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 AirCommerce equipment and installation
technology. The Company may in some cases, need to pay the expenses of the
installation of the Data3Mail and AirCommerce.


PART II OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None

ITEM 2. CHANGES IN SECURITIES

None


                                     -9-
<PAGE>


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


ITEM 7.     Controls and Procedures

(a) Evaluation of disclosure controls and procedures.
Ronald J. Chapman, who serves as the Company's Chief Executive Officer,
And Philip A. Shiels, Principal Financial Officer, after
evaluating the effectiveness of the Company's disclosure controls and
procedures (as defined in Exchange Act Rules 13a-14(c) and 15d-14(c) as of
a date within 90 days of the filing date of the quarterly report (the
"Evaluation Date") concluded that as of the Evaluation Date, the Company's
disclosure controls and procedures were adequate and effective to ensure
that material information relating to the Company and its consolidated
subsidiaries would be made known to them by individuals within those
entities, particularly during the period in which this quarterly report was
being prepared.

(b) Changes in internal controls.
There were no significant changes in the Company's internal controls or in
other factors that could significantly affect the Company's disclosure
controls and procedures subsequent to the Evaluation Date, nor any
significant deficiencies or material weaknesses in such disclosure controls
and procedures requiring corrective actions. As a result, no corrective
actions were taken.



















                                     -10-
<PAGE>



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             5/14/2003





By:    /s/
Philip A.  Shiels             Principal Financial Officer        5/14/2003

                                    and Director





By:    /s/
Graham O. Chappell                Director                       5/14/2003





                                     -11-
<PAGE>


                            CERTIFICATIONS

I hereby certify that:

1. I have reviewed this quarterly report on Form 10-QSB of ASI Entertainment,
Inc.(the "Registrant" or the "Company");

2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary in
order to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period
covered by this quarterly report;

3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
Registrant as of, and for, the periods presented in this quarterly report;

4. I am responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the
Registrant and have;

a. designed such disclosure controls and procedures to ensure that material
information relating to the Registrant, including its consolidated
subsidiaries, is made known to me/us by others within those entities,
particularly during the period in which this quarterly report is being
prepared;

b. evaluated the effectiveness of the Registrant's disclosure controls and
procedures as of a date within ninety (90) days of the filing date of this
quarterly report (the "Evaluation Date"); and

c. presented in this quarterly report my/our conclusions about the
effectiveness of the disclosure controls and procedures based on my/our
evaluation as of the Evaluation Date;

5. I have disclosed, based on my most recent evaluation, to the Registrant's
auditor and the Audit Committee of the Registrant's Board of Directors (or
persons performing the equivalent function):

a. all significant deficiencies in the design or operation of internal
controls which could adversely affect the Registrant's ability to record,
process, summarize and report financial data and have identified for the
Registrant's auditor any material weakness in internal controls; and

b. any fraud, whether or not material, that involves management or other
employees who have a significant role in the Company's internal controls; and

6. I have indicated in this quarterly report whether or not there were
significant changes in internal controls or in other factors
that could significantly affect internal controls subsequent to the date of
my most recent evaluation, including any corrective actions with regard to
significant deficiencies and material weaknesses.


Dated: May 14, 2003

/s/Ronald J. Chapman
---------------------------------------
Ronald J. Chapman, Chief Executive Officer

/s/Philip A. Shiels
---------------------------------------
Philip A. Shiels, Prinicipal Financial Officer

                                     -12-
<PAGE>

</SEC-DOCUMENT>