----

| (1) To record change in fair value of derivatives liabilities resulting from reclassification of put warrants                             |
|-------------------------------------------------------------------------------------------------------------------------------------------|
| (2) To record additional debt discount amortization as a result of derivative liabilities resulting from reclassification of put warrants |
|                                                                                                                                      |
| (3) To record expense for a previously unrecorded liability and common stock issuance                                                     |
| (4) To record additional net loss as a result items above                                                                                 |
| (5) To record issuance of common stock previously unrecorded                                                                              |

----

| PART I       |
|--------------|
| Item 1.      | Description of Business | 1 |
| Item 2.      | Description of Property | 1 |
| Item 3.      | Legal Proceedings | 2 |
| Item 4.      | Submission of Matters to a Vote of Security Holders | 2 |
|         |   |   |
| PART II      |
| Item 5.      | Market for Common Equity and Related Stockholder Matters | 2 |
| Item 6.      | Management’s Discussion and Analysis or Plan of Operations | 2 |
| Item 7.      | Financial Statements | 4 |
| Item 8.      | Controls and Procedures | 27 |
|    |    |   |
| PART III     |
| Item 9.      | Directors, Executive Officers, Promoters and Control Persons; | 29 |
| Item 10.     | Executive Compensation | 30 |
| Item 11.     | Security Ownership of Certain Beneficial Owners and Management | 31 |
| Item 12.     | Certain Relationships and Related Transactions | 32 |
| Item 13.     | Exhibits | 32 |
| Item 14.     | Principal Accountant Fees and Services | 32 |

----

PART

Item

| Subsidiary/Division            | Business                        |
|--------------------------------|---------------------------------|
| Edgetech Services Inc.         | IT services and consulting      |
| Data Management Inc. (dormant) | Government consulting and       |
|                           | Procurement                     |
| RightTag, Inc.                 | Manufacturer of radio           |
|                           | frequency identification (RFID) |
|                           | Products                        |
| Desert Communications, Inc.    | IT consulting and sales of      |
|                           | computer systems                |

Item

----

Item

Item

PART

Item

| 30-Apr-08 | 0.01   | 0.01   |
|-----------|--------|--------|
|      |   |   |
| 31-Jan-08 | 0.01   | 0.01   |
|      |   |   |
| 31-Oct-07 | 0.01   | 0.01   |
|      |   |   |
| 31-Jul-07 | 0.02   | 0.02   |
|      |   |   |
| 30-Apr-07 | 0.10   | 0      |
|      |   |   |
| 31-Jan-07 | 0.01   | 0.01   |
|      |   |   |
| 31-Oct-06 | 0.02   | 0.01   |
|      |   |   |
| 31-Jul-06 | 0.02   | 0.01   |

Item

----

----

Item

----

| INOVA TECHNOLOGY, INC.                                                       |   |
|------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS                                                  |   |
|                                                                         |   |
|                                                                         |   |
|                                                                         |   | April 30, 2008 |   |   |   |   |
|                                                                         |   | Restated |   |   | April 30, 2007 |   |
|                                                                         |   |   |   |   |   |   |
| ASSETS                                                                       |   |   |   |   |   |   |
|                                                                         |   |   |   |   |   |   |
| Current assets                                                               |   |   |   |   |   |   |
| Cash                                                                         |   | $ | 12,167 |   |   | $ | 22,847 |   |
| Restricted cash - escrow                                                     |   |   | - |   |   |   | 339,758 |   |
| Accounts receivable                                                          |   |   | 769,918 |   |   |   | 208,408 |   |
| Contract receivables, net of allowance of $21,822 and $21,832                |   |   | 2,233,252 |   |   |   | - |   |
| Inventory                                                                    |   |   | 101,679 |   |   |   | - |   |
| Cost in excess of billing                                                    |   |   | 198,655 |   |   |   | - |   |
| Deferred financing costs                                                     |   |   | 97,500 |   |   |   |   |   |
| Prepaid and other current assets                                             |   |   | 234,645 |   |   |   | - |   |
|                                                                         |   |   |   |   |   |   |   |   |
| Total current assets                                                         |   |   | 3,647,816 |   |   |   | 571,013 |   |
|                                                                         |   |   |   |   |   |   |   |   |
| Fixed assets, net                                                            |   |   | 183,926 |   |   |   | 1,039 |   |
| Intangible assets, net                                                       |   |   | 845,332 |   |   |   | 2,612,304 |   |
| Goodwill                                                                     |   |   | 5,904,782 |   |   |   | 130,230 |   |
| Total assets                                                                 |   | $ | 10,581,856 |   |   | $ | 3,314,586 |   |
|                                                                         |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                        |   |   |   |   |   |   |   |   |
|                                                                         |   |   |   |   |   |   |   |   |
| Current liabilities                                                          |   |   |   |   |   |   |   |   |
| Accounts payable                                                             |   | $ | 1,746,889 |   |   | $ | 532,962 |   |
| Accrued liabilities                                                          |   |   | 849,346 |   |   |   | 5,809 |   |
| Deferred income                                                              |   |   | 403,792 |   |   |   | - |   |
| Derivative liabilities                                                       |   |   | 1,312,768 |   |   |   |   |   |
| Notes payable - related parties                                              |   |   | 3,358,323 |   |   |   | 662,690 |   |
| Notes payable, net of unamortized discount of $845,095                       |   |   | 2,370,442 |   |   |   | - |   |
| Total current liabilities                                                    |   |   | 10,041,560 |   |   |   | 1,201,461 |   |
| Notes payable - related parties, net of current maturities                   |   |   | 142,532 |   |   |   | 439,545 |   |
| Total liabilities                                                            |   |   | 10,184,092 |   |   |   | 1,641,006 |   |
|                                                                         |   |   |   |   |   |   |   |   |
| Stockholders' deficit                                                        |   |   |   |   |   |   |   |   |
| Convertible preferred stock, $.001 par; 25,000,000 shares authorized         |   |   |   |   |   |   |   |   |
| 4,951,000 issued and outstanding                                             |   |   | 4,951 |   |   |   | 4,951 |   |
| Common stock, $0.001 par value; 150,000,000 shares                           |   |   |   |   |   |   |   |   |
|     authorized; 30,000,000 shares issued and outstanding |   |   | 30,000 |   |   |   | 30,000 |   |
| Additional paid-in capital                                                   |   |   | 2,904,602 |   |   |   | 2,730,228 |   |
| Accumulated deficit                                                          |   |   | (2,541,789 | ) |   |   | (1,091,599 | ) |
| Total stockholders' deficit                                                  |   |   | 397,764 |   |   |   | 1,673,580 |   |
| Total liabilities and stockholders' deficit                                  |   | $ | 10,581,856 |   |   | $ | 3,314,586 |   |

----

| INOVA TECHNOLOGY, INC.                                                        |   |
|-------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOWS                                         |   |
| For the years ended April 30, 2008 and 2007                                   |   |
|                                                                          |   |
|                                                                          |   |   |   |   |   |   |
|                                                                          |   | 2008 |   |   |   |   |
|                                                                          |   | Restated |   |   | 2007 |   |
| CASH FLOWS OPERATING ACTIVITIES                                               |   |   |   |   |   |   |
|                                                                          |   |   |   |   |   |   |
| Net loss                                                                      |   | $ | (1,450,190 | ) |   | $ | (1,506,927 | ) |
| Loss from discontinued operations                                             |   |   | - |   |   |   | 1,151,474 |   |
| Adjustments to reconcile net income (loss) to net cash                        |   |   | (1,450,190 | ) |   |   | (355,453 | ) |
| provided by (used in) operating activities:                                   |   |   |   |   |   |   |   |   |
| Bad debt expense                                                              |   |   | 17,753 |   |   |   | - |   |
| Depreciation expense                                                          |   |   | 11,792 |   |   |   | 25,216 |   |
| Amortization expense - loan discounts and  deferred financing costs |   |   | 697,233 |   |   |   | - |   |
| Amortization expense - intangible                                             |   |   | 281,155 |   |   |   | 120,214 |   |
| Management fees                                                               |   |   | - |   |   |   | 105,000 |   |
| Goodwill impairment                                                           |   |   | 324,310 |   |   |   | - |   |
| Derivative loss                                                               |   |   | 219,969 |   |   |   | - |   |
| Changes in operating assets and liabilities:                                  |   |   |   |   |   |   |   |   |
| Accounts receivable                                                           |   |   | (375,712 | ) |   |   | 402,095 |   |
| Inventory                                                                     |   |   | (7,830 | ) |   |   | - |   |
| Cost in excess of billing                                                     |   |   | 112,156 |   |   |   | - |   |
| Prepaid expenses and other current assets                                     |   |   | (130,524 | ) |   |   | - |   |
| Accounts payable and accrued expenses                                         |   |   | 714,269 |   |   |   | 28,475 |   |
| Deferred income                                                               |   |   | 403,792 |   |   |   | - |   |
|                                                                          |   |   |   |   |   |   |   |   |
| NET CASH PROVIDED BY OPERATING ACTIVITIES OF CONTINUING OPERATIONS            |   |   | 818,173 |   |   |   | 325,547 |   |
| NET CASH USED IN OPERATING ACTIVITIES OF DISCONTINUED OPERATIONS              |   |   | - |   |   |   | (1,278,943 | ) |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES                           |   |   | 818,173 |   |   |   | (953,396 | ) |
|                                                                          |   |   |   |   |   |   |   |   |
| CASH FLOW INVESTING ACTIVITIES                                                |   |   |   |   |   |   |   |   |
| Purchase of RightTag                                                          |   |   | - |   |   |   | (339,758 | ) |
| Purchase of Desert Communications                                             |   |   | (3,725,000 | ) |   |   | - |   |
| Purchase of fixed assets                                                      |   |   | (27,540 | ) |   |   | - |   |
| NET CASH USED IN INVESTING ACTIVITIES OF CONTINUING OPERATIONS                |   |   | (3,752,540 | ) |   |   | (339,758 | ) |
| NET CASH PROVIDED BY INVESTING ACTIVITIES CONTINUED OPERATIONS                |   |   | - |   |   |   | 73,259 |   |
| NET CASH USED IN INVESTING ACTIVITIES                                         |   |   | (3,752,540 | ) |   |   | (266,499 | ) |
|                                                                          |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM  FINANCING ACTIVITIES                               |   |   |   |   |   |   |   |   |
| Proceeds from notes payable                                                   |   |   | 3,269,820 |   |   |   | - |   |
| Repayments made on notes payable                                              |   |   | (358,401 | ) |   |   |   |   |
| Proceeds from notes payable - related parties                                 |   |   | 469,513 |   |   |   | 1,167,557 |   |
| Repayments made on notes payable - related parties                            |   |   | (472,765 | ) |   |   | (304,253 | ) |
| Capital contributions made by related party                                   |   |   | 15,520 |   |   |   | - |   |
| Sale of treasury stock                                                        |   |   | - |   |   |   | 4,715 |   |
| NET CASH PROVIDED BY FINANCING ACTIVITIES OF CONTINUING OPERATIONS            |   |   | 2,923,687 |   |   |   | 868,019 |   |
|                                                                          |   |   |   |   |   |   |   |   |
| NET EFFECT OF EXCHANGE RATES ON CASH                                          |   |   |   |   |   |   | (4,877 | ) |
|                                                                          |   |   |   |   |   |   |   |   |
| NET CHANGE IN CASH                                                            |   |   | (10,680 | ) |   |   | (356,753 | ) |
| CASH AT BEGINNING OF PERIOD                                                   |   |   | 22,847 |   |   |   | 379,600 |   |
|                                                                          |   |   |   |   |   |   |   |   |
| CASH AT END OF PERIOD                                                         |   | $ | 12,167 |   |   | $ | 22,847 |   |
|                                                                          |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL INFORMATION:                                                     |   |   |   |   |   |   |   |   |
| Interest paid                                                                 |   | $ | 488,727 |   |   | $ | 15,147 |   |
| Income taxes paid                                                             |   | $ | - |   |   | $ | - |   |
|                                                                          |   |   |   |   |   |   |   |   |
| NON-CASH INVESTING AND FINANCING ACTIVITIES:                                  |   |   |   |   |   |   |   |   |
| Common stock issued for partial payment of notes payable                      |   | $ | - |   |   | $ | 92,326 |   |
| Common stock issued for conversion of preferred stock                         |   |   | - |   |   |   | 528,359 |   |
| Seller financed purchase of Desert Communications, Inc.                       |   |   | 2,630,801 |   |   |   | - |   |
| Discount on notes payable from beneficial conversion feature                  |   |   | 104,427 |   |   |   | - |   |
| Discount on notes payable from relative fair value of warrants                |   |   | 54,427 |   |   |   | - |   |
| Discount on notes payable from derivative liabilities                         |   |   | 1,092,799 |   |   |   |   |   |

----

| INOVA TECHNOLOGY, INC.                                                 |   |
|------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS                                  |   |
| For the years ended April 30, 2008 and 2007                            |   |
|                                                                   |   |
|                                                                   |   |   |   |   |   |   |
|                                                                   |   | 2008 |   |   |   |   |
|                                                                   |   | Restated |   |   | 2007 |   |
|                                                                   |   |   |   |   |   |   |
| Revenues                                                               |   | $ | 5,442,402 |   |   | $ | 1,615,187 |   |
| Cost of revenues                                                       |   |   | (4,109,518 | ) |   |   | (578,336 | ) |
| Operating expenses                                                     |   |   | (2,246,959 | ) |   |   | (1,361,355 | ) |
|         Operating loss         |   |   | (914,075 | ) |   |   | (324,504 | ) |
|                                                                   |   |   |   |   |   |   |   |   |
| Other income (expense):                                                |   |   |   |   |   |   |   |   |
|         Interest income        |   |   | - |   |   |   | 1,367 |   |
| Other income                                                           |   |   | - |   |   |   | 9,300 |   |
| Interest expense                                                       |   |   | (316,146 | ) |   |   | (41,616 | ) |
|         Derivative gain/(loss) |   |   | (219,969 | ) |   |   | - |   |
| Income (loss) from continuing operations                               |   |   | (1,450,190 | ) |   |   | (355,453 | ) |
| Loss from discontinued operations                                      |   |   | - |   |   |   | 84,888 |   |
| Loss from disposal of discontinued operations                          |   |   | - |   |   |   | (1,236,362 | ) |
| NET INCOME (LOSS)                                                      |   |   | (1,450,190 | ) |   |   | (1,506,927 | ) |
| Translation adjustment                                                 |   |   | - |   |   |   | (4,877 | ) |
| Comprehensive loss                                                     |   | $ | (1,450,190 | ) |   | $ | (1,511,804 | ) |
|                                                                   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |
| Basic and diluted income (loss) per share:                             |   |   |   |   |   |   |   |   |
| -from continuing operations                                            |   | $ | (1.03 | ) |   | $ | (0.43 | ) |
| -from discontinued operations                                          |   | $ | 0.00 |   |   | $ | 1.38 |   |
| -total                                                                 |   | $ | (1.03 | ) |   | $ | (1.81 | ) |
|                                                                   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                         |   |   | 1,500,000 |   |   |   | 831,477 |   |

----

| INOVA TECHNOLOGY, INC.                                       |   |
|--------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY                |   |
| FOR THE YEARS ENDED APRIL 30, 2008 (RESTATED) AND 2007       |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Other |   |   |   |   |   |   |   |
|                                                         |   | Common Stock |   |   | Preferred Stock |   |   | Treasury Stock |   |   | Additional |   |   | Comprehensive |   |   | Accumulated |   |   |   |   |
|                                                         |   | Shares |   |   | Par (0.001) |   |   | Shares |   |   | Par (0.001) |   |   | Shares |   |   | Amount |   |   | Paid-in Capital |   |   | Income |   |   | Deficit |   |   | Total |   |
|                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balances at April 30, 2006                                   |   |   | 3,514,423 |   |   | $ | 3,514 |   |   |   | 25,000,000 |   |   | $ | 25,000 |   |   |   | 6,875 |   |   | $ | (4,715 | ) |   | $ | 2,539,340 |   |   | $ | 4,877 |   |   | $ | 415,328 |   |   | $ | 2,983,344 |   |
| Shares issued to pay notes payable                           |   |   | 1,063,238 |   |   |   | 1,063 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 91,262 |   |   |   | - |   |   |   | - |   |   |   | 92,325 |   |
| Shares issued to acquire Data Management                     |   |   | - |   |   |   | - |   |   |   | 25,000,000 |   |   |   | 25,000 |   |   |   | - |   |   |   | - |   |   |   | (25,000 | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| Shares received for sale of Web's Biggest, LTD               |   |   | - |   |   |   | - |   |   |   | (25,000,000 | ) |   |   | (25,000 | ) |   |   | - |   |   |   | - |   |   |   | 25,000 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Reversal of treasury stock purchase                          |   |   | 6,875 |   |   |   | 7 |   |   |   | - |   |   |   | - |   |   |   | (6,875 | ) |   |   | 4,715 |   |   |   | (7 | ) |   |   | - |   |   |   | - |   |   |   | 4,715 |   |
| Preferred shares converted to common shares                  |   |   | 25,415,465 |   |   |   | 25,415 |   |   |   | (20,049,000 | ) |   |   | (20,049 | ) |   |   | - |   |   |   | - |   |   |   | (5,366 | ) |   |   | - |   |   |   | - |   |   |   | - |   |
| Management fees                                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 105,000 |   |   |   | - |   |   |   | - |   |   |   | 105,000 |   |
| Translation adjustment                                       |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (4,877 | ) |   |   | - |   |   |   | (4,877 | ) |
| Net loss                                                     |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,506,927 | ) |   |   | (1,506,927 | ) |
| Balances at April 30, 2007                                   |   |   | 30,000,000 |   |   |   | 30,000 |   |   |   | 4,951,000 |   |   |   | 4,951 |   |   |   | - |   |   |   | - |   |   |   | 2,730,228 |   |   |   | - |   |   |   | (1,091,599 | ) |   |   | 1,673,580 |   |
| Capital contributions from related party                     |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 15,520 |   |   |   | - |   |   |   | - |   |   |   | 15,520 |   |
| Discount on notes payable from beneficial conversion feature |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 104,427 |   |   |   | - |   |   |   | - |   |   |   | 104,427 |   |
| Discount on notes payable from warrants                      |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 54,427 |   |   |   | - |   |   |   | - |   |   |   | 54,427 |   |
| Net loss                                                     |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,450,190 | ) |   |   | (1,450,190 | ) |
| Balances at April 30, 2008 (Restated)                        |   |   | 30,000,000 |   |   | $ | 30,000 |   |   |   | 4,951,000 |   |   | $ | 4,951 |   |   |   | - |   |   | $ | - |   |   | $ | 2,904,602 |   |   | $ | - |   |   | $ | (2,541,789 | ) |   | $ | 397,764 |   |

----

----

----

----

----

| Completed contracts        |   | $      | 1,639,799 |   |
|----------------------------|--------|--------|-----------|--------|
| Contracts in progress      |   |   | 593,453   |   |
| Total Contracts Receivable |   | $      | 2,233,252 |   |

| Costs incurred on uncompleted contracts |   | $      | 483,706  |   |
|-----------------------------------------|--------|--------|----------|--------|
| Estimated earnings                      |   |   | 302,150  |   |
| Less: Billings to date                  |   |   | (587,201 | )      |
| Total                                   |   | $      | 198,655  |   |

| Costs and estimated earnings in excess    |   |   |    |
|-------------------------------------------|--------|--------|---------|
| of billings on uncompleted contracts      |   | $      | 198,655 |   |
| Billings in excess of costs and estimated |   |   |    |   |
| earnings on uncompleted contracts         |   |   | — |   |
|                                      |   | $      | 198,655 |   |

| Cash                |   | $      | 646     |   |
|---------------------|--------|--------|---------|--------|
| Accounts receivable |   |   | 4,020   |   |
| Inventory           |   |   | 12,850  |   |
| Prepaid expenses    |   |   | 115     |   |
| Goodwill            |   |   | 300,870 |   |
| Intangible assets   |   |   | 135,702 |   |
| Accounts payable    |   |   | (28,231 | )      |
| Accrued liabilities |   |   | (1,812  | )      |
| Shareholder loans   |   |   | (99,160 | )      |
| Total               |   | $      | 325,000 |   |

----

| Cash                                     |   | $      | 2,222,632  |   |
|------------------------------------------|--------|--------|------------|--------|
| Accounts receivable                      |   |   | 2,406,695  |   |
| Inventory                                |   |   | 293,283    |   |
| Prepaid expense                          |   |   | 6,654      |   |
| Fixed assets                             |   |   | 167,139    |   |
| Goodwill                                 |   |   | 3,414,445  |   |
| Intangible assets                        |   |   | 860,555    |   |
| Accounts payable and accrued liabilities |   |   | (3,434,077 | )      |
| Total                                    |   | $      | 5,937,326  |   |

|                                   |   | 2008   |        |    | 2007   |   |
|----------------------------------------|--------|--------|-------------|---------|--------|--------|
| Sales                                  |   | $      | 17,633,590  |    |   | $      | 14,944,551 |   |
| Cost of sales                          |   |   | (12,008,040 | )       |   |   | (10,332,197 | ) |
| G&A                                |   |   | (3,684,974  | )       |   |   | (3,058,364 | ) |
| Interest income (expense)              |   |   | (550,626    | )       |   |   | 295,038 |   |
| Income from continuing operations      |   |   | 1,389,950   |    |   |   | 1,849,028 |   |
| Loss on sale of Web’s Biggest    |   |   | —     |    |   |   | (1,226,061 | ) |
| Income from discontinuing operations   |   |   | —     |    |   |   | 170,053 |   |
| Net income                             |   | $      | 1,389,950   |    |   | $      | 793,020 |   |
| Basic and diluted net income per share |   |   | (0.00       | )  |   |   | (0.00 | ) |
| from continuing operations             |   |   |        |    |   |   |   |   |
| Basic and diluted net income per share |   |   | (0.00       | )  |   |   | (0.00 | ) |
| from discontinuing operations          |   |   |        |    |   |   |   |   |
| Basic and diluted net income per share |   |   | (0.00       | )  |   |   | (0.00 | )  |
| Weighted average common shares         |   |   | 30,000,000  |    |   |   | 16,629,550 |   |

----

|     |   | 2008   |      |   | 2007   |   |
|----------|--------|--------|-----------|--------|--------|--------|
| RightTag |   | $      | 300,870   |   |   | $      | — |   |
| Desert   |   |   | 3,315,918 |   |   |   | — |   |
| Edgetech |   |   | 2,287,994 |   |   |   | 2,612,304 |   |
| Total    |   | $      | 5,904,782 |   |   | $      | 2,612,304 |   |

|                           |   | 2008   |    |   | 2007   |   |
|--------------------------------|--------|--------|---------|--------|--------|--------|
| RightTag - customer list       |   | $      | 90,468  |   |   | $      | — |   |
| Desert - customer list         |   |   | 443,493 |   |   |   | — |   |
| Desert - employment agreements |   |   | 301,354 |   |   |   | — |   |
| Edgetech - customer list       |   |   | 10,018  |   |   |   | 130,231 |   |
| Total                          |   | $      | 845,333 |   |   | $      | 130,231 |   |

----

| Due to related parties:                             |   |   |      |   |   |   |
|-----------------------------------------------------|--------|--------|-----------|--------|--------|--------|
|                                                |   | 2008   |      |   | 2007   |   |
| Due to Southbase, entity associated                 |   |   |      |   |   |   |
| with the CEO, matures January 2010,                 |   |   |      |   |   |   |
| monthly payments of $11,847, interest               |   |   |      |   |   |   |
| of 7%, unsecured                                    |   | $      | 861,563   |   |   | $      | 426,503 |   |
| Due to Desert previous owners, see Note 5           |   |   | 2,300,000 |   |   |   | - |   |
| Due to IMSS, entity associated with                 |   |   |      |   |   |   |   |   |
| the CEO, matures January 2010,                      |   |   |      |   |   |   |   |   |
| no interest, unsecured                              |   |   | —   |   |   |   | 186,382 |   |
| Due to former officers, on demand, interest         |   |   |      |   |   |   |   |   |
| of 7%, unsecured                                    |   |   | —   |   |   |   | 10,118 |   |
| Due to Advisors, LLC, entity associated             |   |   |      |   |   |   |   |   |
| with the Secretary, matures January 2010,           |   |   |      |   |   |   |   |   |
| monthly payments of $15,388, interest of            |   |   |      |   |   |   |   |   |
| prime + 3%, secured by receivables (8% at April 30) |   |   | 247,927   |   |   |   | 202,142 |   |
| Due to Advisors, LLC, entity associated             |   |   |      |   |   |   |   |   |
| with the Secretary, matures January 2010,           |   |   |      |   |   |   |   |   |
| monthly payments of $11,545, interest of            |   |   |      |   |   |   |   |   |
| prime + 2%, secured by receivables (7% at April 30) |   |   | 91,365    |   |   |   | 277,090 |   |
| Total due to related parties                        |   | $      | 3,358,323 |   |   | $      | 1,102,235 |   |

| Note payable - Boone        |   | $       | 1,433,599 |   |
|-----------------------------|--------|---------|-----------|--------|
| Notes payable - individuals |   |    | 104,118   |   |
| LOC from IBM                |   |    | 1,427,820 |   |
| Note payable - Agile        |   |    | 250,000   |   |
| Total notes payable         |   |    | 3,215,537 |   |
| Unamortized discount        |   |    | (845,095  | )      |
| Total as of April 30, 2008  |   | $  | 2,370,442 |   |

----

----

| Gross proceeds from note payable             |   | $      | 250,000  |   |
|----------------------------------------------|--------|--------|----------|--------|
| Less: beneficial conversion feature discount |   |   | (50,000  | )      |
| Less: fair value of warrants granted         |   |   | (100,000 | )      |
| Add: amortization of discount                |   |   | 9,288    |   |
| Carrying amount of notes on April 30, 2008   |   | $      | 109,288  |   |

----

| 2009 |   | $      | 5,904 |   |
|------|--------|--------|-------|--------|
| 2010 |   |   | 5,904 |   |

----

|                              |   | (US Entities) |      |            |        |
|-----------------------------------|--------|---------------|-----------|-----------------|-------------|
|                              |   | Consolidated  |      | EdgeTech Canada |        |
| Net Operating Losses:             |   |          |      |            |        |   |
| Loss (income) for fiscal 2007     |   |          | 647,166   |            | (168,855    | ) |
| NOL as of April 30, 2007          |   |          | 647,166   |            | 407,072     |   |
| Loss (income) for fiscal 2008     |   |          | 1,002,842 |            | (28,284     | ) |
| Add: Non-deductible Expenses      |   |          |      |            |        |   |
| - Meals & Entertainment (50%) |   |          | 1,504     |            |        |   |
| - Stock Based Compensation        |   |          | —   |            |        |   |
| NOL as of April 30, 2008          |   |          | 1,653,016 |            | 378,788     |   |
|                              |   |          |      |            |        |   |
| Deferred Tax Assets:              |   |          |      |            |        |   |
| Deferred Tax Assets (35% of NOL)  |   |          | 578,556   |            | 132,575.80  |   |
| Valuation Allowance               |   |          | (578,556  | )               | (132,575.80 | ) |
| Net Deferred Tax Assets           |   |          | —   |            | —     |   |

| -   | Inova issued 25,000,000  shares of convertible preferred stock for the purchase of Data Management and received back the same 25,000,000 shares of convertible preferred stock for the sale of Web’s Biggest.                                                                                             |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |                                                                                                                                                                                                                                                                                                                      |
| -   | 6,875 common shares that were purchased by Inova in fiscal 2006 for $4,715 in a treasury stock transaction were returned to the original investor for return of the $4,715.                                                                                                                                               |
|          |                                                                                                                                                                                                                                                                                                                      |
| -   | 1,063,238  common shares were issued to related parties as partial payments of their notes payable. The value of the shares was $92,235 resulting in a reduction of the notes payable by that amount.                                                                                                           |
|          |                                                                                                                                                                                                                                                                                                                      |
| -   | Inova issued 31,691,675 common shares for the conversion of 25 million preferred shares. The conversion was in accordance with the original terms of the preferred stock agreement. 6,265,210 common shares were reversed as Inova did not have enough authorized common shares leaving 25,415,465 validly issued shares. |

----

| -   | During the year ended April 30, 2008, 2,271,129 common shares approved to be issued to a related party as partial payment of a note payable and account payable with carrying values totaling $195,738.                                                                                                                                                                                                                                                                                                            |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| -   | In December 2007, Southbase LLC (a company related to the CEO, Mr. Adam Radly), agreed to convert $600,000 of cash loaned to Inova plus the interest accrued on the loan into 9,298,246 common shares of Inova. The following conversion of the loan amount (principal and interest) was calculated: $400,000 to be converted into 6,666,667  common shares at the stated rate of $0.003 per share and $200,000 was to be converted into 2,631,579 common shares at the stated rate of $0.026 per share. |

|                       |       |   | Weighted    |   |
|----------------------------|------------|--------|-------------|--------|
|                       |       |   | average     |   |
|                       | Warrants   |   | Share Price |   |
| Year ended April 30, 2007: |       |   |        |   |   |
| Granted                    | 1,050,000  |   | $           | 0.003  |   |
| Outstanding at             |       |   |        |   |   |
| April 30, 2007             | 1,050,000  |   |        | 0.003  |   |
| Year ended April 30, 2008: |       |   |        |   |   |
| Granted                    | 9,613,963  |   |        | 0.001  |   |
| Outstanding at             |       |   |        |   |   |
| April 30, 2008             | 10,663,963 |   | $           | 0.001  |   |

|   |                 |   | - Outstanding - |      | Exercisable |      |
|--------|----------------------|--------|-----------------|-----------|-------------|-----------|
|   |                 |   | Number          | Remaining |        | Number    |   |
|   |  Exercise Price |   | of Shares       | life      |        | of Shares |   |
|   | $                    | 0.003  |            | 1,050,000 | 3 years     |      |   | 1,050,000 |   |
|   |                 |   |            | 1,050,000 |        |      |   | 1,050,000 |   |

|   |           |          | - Outstanding - |       | Exercisable |      |
|--------|----------------|---------------|-----------------|------------|-------------|-----------|
|   |           |          | Number          | Remaining  |        | Number    |   |
|   | Exercise Price |          | of Shares       | life       |        | of Shares |   |
|   | $              | 0.003         |            | 1,050,000  | 2 years     |      |   | 1,050,000 |   |
|   | $              | 0.001 - 0.026 |            | 9,613,963  | 1 year      |      |   | 12,289 |   |
|   |           |          |            | 10,663,963 |        |      |   | 1,062,289 |   |

----

|             |   | Edgetech |      | Right Tag |    | DCI    |      | Total  |       |
|------------------|--------|----------|-----------|-----------|---------|--------|-----------|--------|------------|
|             |   |     |      |      |    |   |      |   |       |
| Sales            |   |     | 383,705   |      | 158,216 |   | 4,900,481 |   | 5,442,402  |   |
|             |   |     |      |      |    |   |      |   |       |   |
| Operating income |   |     | (562,218  | )         | (51,542 | )      | (104,603  | )      | (718,363   | ) |
|             |   |     |      |      |    |   |      |   |       |   |
| Interest/other   |   |     | (60,400   | )         | (16,113 | )      | (36,876   | )      | (113,389   | ) |
|             |   |     |      |      |    |   |      |   |       |   |
| Assets           |   |     | 3,968,086 |      | 461,373 |   | 6,054,897 |   | 10,581,856 |   |

| Revenues                                |   | $      | 620,049  |   |
|-----------------------------------------|--------|--------|----------|--------|
| Cost of revenues                        |   |   | (288,164 | )      |
| Operating expenses                      |   |   | (247,213 | )      |
| Operating income                        |   |   | 84,672   |   |
| Interest income                         |   |   | 216      |   |
| Net income from discontinued operations |   | $      | 84,888   |   |

----

| (1) To record change in fair value of derivatives liabilities resulting from reclassification of put warrants                             |
|-------------------------------------------------------------------------------------------------------------------------------------------|
| (2) To record additional debt discount amortization as a result of derivative liabilities resulting from reclassification of put warrants |
|                                                                                                                                      |
| (3) To record expense for a previously unrecorded liability and common stock issuance                                                     |
| (4) To record additional net loss as a result items above                                                                                 |
| (5) To record issuance of common stock previously unrecorded                                                                              |

----

| INOVA TECHNOLOGY INC                                                         |   |
|------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS                                                  |   |
| (Unaudited)                                                                  |   |
|                                                                         |   |   |   |   |   |   |   |   | April 30, 2008 |   |   |   |   |
|                                                                         |   | April 30, 2008 |   |   | Adjustments |   |   |   | Restated |   |   | April 30, 2007 |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| ASSETS                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current assets                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                                                                         |   | $ | 12,167 |   |   | $ | - |   |   |   | $ | 12,167 |   |   | $ | 22,847 |   |
| Restricted cash - escrow                                                     |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 339,758 |   |
| Accounts receivable                                                          |   |   | 769,918 |   |   |   | - |   |   |   |   | 769,918 |   |   |   | 208,408 |   |
| Contract receivables, net of allowance of $21,822 and $21,832                |   |   | 2,233,252 |   |   |   | - |   |   |   |   | 2,233,252 |   |   |   | - |   |
| Inventory                                                                    |   |   | 101,679 |   |   |   | - |   |   |   |   | 101,679 |   |   |   | - |   |
| Cost in excess of billing                                                    |   |   | 198,655 |   |   |   | - |   |   |   |   | 198,655 |   |   |   | - |   |
| Deferred financing costs                                                     |   |   | - |   |   |   | 97,500 |   | (4)  |   |   | 97,500 |   |   |   | - |   |
| Prepaid and other current assets                                             |   |   | 234,645 |   |   |   | - |   |   |   |   | 234,645 |   |   |   | - |   |
| Total current assets                                                         |   |   | 3,550,316 |   |   |   | 97,500 |   |   |   |   | 3,647,816 |   |   |   | 571,013 |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed assets, net                                                            |   |   | 183,926 |   |   |   | - |   |   |   |   | 183,926 |   |   |   | 1,039 |   |
| Intangible assets, net                                                       |   |   | 845,332 |   |   |   | - |   |   |   |   | 845,332 |   |   |   | 2,612,304 |   |
| Goodwill                                                                     |   |   | 5,904,782 |   |   |   | - |   |   |   |   | 5,904,782 |   |   |   | 130,230 |   |
| Total assets                                                                 |   | $ | 10,484,356 |   |   | $ | 97,500 |   |   |   | $ | 10,581,856 |   |   | $ | 3,314,586 |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current liabilities                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts payable                                                             |   | $ | 1,746,889 |   |   | $ | - |   |   |   | $ | 1,746,889 |   |   | $ | 532,962 |   |
| Accrued liabilities                                                          |   |   | 270,061 |   |   |   | 579,285 |   | (4)  |   |   | 849,346 |   |   |   | 5,809 |   |
| Deferred income                                                              |   |   | 403,792 |   |   |   | - |   |   |   |   | 403,792 |   |   |   | - |   |
| Derivative liabilities                                                       |   |   | - |   |   |   | 1,312,768 |   | (1)  |   |   | 1,312,768 |   |   |   | - |   |
| Notes payable - related parties                                              |   |   | 3,358,323 |   |   |   | - |   |   |   |   | 3,358,323 |   |   |   | 662,690 |   |
| Notes payable, net of unamortized discount                                   |   |   | 3,160,811 |   |   |   | (790,369 | ) | (2)  |   |   | 2,370,442 |   |   |   | - |   |
| Total current liabilities                                                    |   |   | 8,939,876 |   |   |   | 1,101,684 |   |   |   |   | 10,041,560 |   |   |   | 1,201,461 |   |
| Notes payable - related parties, net of current maturities                   |   |   | 142,532 |   |   |   | - |   |   |   |   | 142,532 |   |   |   | 439,545 |   |
| Total liabilities                                                            |   |   | 9,082,408 |   |   |   | 1,101,684 |   |   |   |   | 10,184,092 |   |   |   | 1,641,006 |   |
|                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders' deficit                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Convertible preferred stock, $.001 par; 25,000,000 shares authorized         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 4,951,000 issued and outstanding                                             |   |   | 4,951 |   |   |   | - |   |   |   |   | 4,951 |   |   |   | 4,951 |   |
| Common stock, $0.001 par value; 150,000,000 shares                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     authorized; 30,000,000 shares issued and outstanding |   |   | 30,000 |   |   |   | - |   |   |   |   | 30,000 |   |   |   | 30,000 |   |
| Additional paid-in capital                                                   |   |   | 3,434,658 |   |   |   | (530,056 | ) | (3)  |   |   | 2,904,602 |   |   |   | 2,730,228 |   |
| Accumulated deficit                                                          |   |   | (2,067,661 | ) |   |   | (474,128 | ) | (5)  |   |   | (2,541,789 | ) |   |   | (1,091,599 | ) |
| Total stockholders' deficit                                                  |   |   | 1,401,948 |   |   |   | (1,004,184 | ) |   |   |   | 397,764 |   |   |   | 1,673,580 |   |
| Total liabilities and stockholders' deficit                                  |   | $ | 10,484,356 |   |   | $ | 97,500 |   |   |   | $ | 10,581,856 |   |   | $ | 3,314,586 |   |

----

| INOVA TECHNOLOGY, INC.                        |   |
|-----------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS         |   |
| For the year ended April 30, 2008 and 2007    |   |
| (Unaudited)                                   |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                          |   |   |   |   |   |   |   |   | 2008 |   |   |   |   |
|                                          |   | 2008 |   |   | Adjustments |   |   |   | Restated |   |   | 2007 |   |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUES                                      |   | $ | 5,442,402 |   |   | $ | - |   |   |   | $ | 5,442,402 |   |   | $ | 1,615,187 |   |
| Cost of revenues                              |   |   | (4,109,518 | ) |   |   | - |   |   |   |   | (4,109,518 | ) |   |   | (578,336 | ) |
| Operating expenses                            |   |   | (2,195,557 | ) |   |   | (51,402 | ) | (3)  |   |   | (2,246,959 | ) |   |   | (1,361,355 | ) |
| Operating loss                                |   |   | (862,673 | ) |   |   | (51,402 | ) |   |   |   | (914,075 | ) |   |   | (324,504 | ) |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expense):                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest income                               |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 1,367 |   |
| Other income                                  |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 9,300 |   |
| Interest expense                              |   |   | (113,389 | ) |   |   | (202,757 | ) | (2)  |   |   | (316,146 | ) |   |   | (41,616 | ) |
| Derivative gain/(loss)                        |   |   | - |   |   |   | (219,969 | ) | (1)  |   |   | (219,969 | ) |   |   | - |   |
| Income (loss) from continuing operations      |   |   | (976,062 | ) |   |   | (474,128 | ) |   |   |   | (1,450,190 | ) |   |   | (355,453 | ) |
| Loss from discontinued operations             |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 84,888 |   |
| Loss from disposal of discontinued operations |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | (1,236,362 | ) |
| NET INCOME (LOSS)                             |   |   | (976,062 | ) |   |   | (474,128 | ) |   |   |   | (1,450,190 | ) |   |   | (1,506,927 | ) |
| Translation adjustment                        |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | (4,877 | ) |
| Comprehensive loss                            |   | $ | (976,062 | ) |   | $ | (474,128 | ) |   |   | $ | (1,450,190 | ) |   | $ | (1,511,804 | ) |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted income (loss) per share:    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| -from continuing operations                   |   | $ | (0.65 | ) |   | $ | (0.32 | ) |   |   | $ | (0.97 | ) |   | $ | (0.43 | ) |
| -from discontinued operations                 |   | $ | 0.00 |   |   | $ | 0.00 |   |   |   | $ | 0.00 |   |   | $ | 1.38 |   |
| -total                                        |   | $ | (0.65 | ) |   | $ | (0.32 | ) | (4)  |   | $ | (0.97 | ) |   | $ | (1.81 | ) |
|                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted                             |   |   | 1,500,000 |   |   |   | 0 |   |   |   |   | 1,500,000 |   |   |   | 831,477 |   |

----

----

Item

Item

Item

----

| Cash                                     |   | $      | 2,222,632  |   |
|------------------------------------------|--------|--------|------------|--------|
| Accounts receivable                      |   |   | 2,406,695  |   |
| Inventory                                |   |   | 293,283    |   |
| Prepaid expense                          |   |   | 6,654      |   |
| Fixed assets                             |   |   | 167,139    |   |
| Goodwill                                 |   |   | 3,414,445  |   |
| Intangible assets                        |   |   | 860,555    |   |
| Accounts Payable and accrued liabilities |   |   | (3,434,077 | )      |
|                                     |   |   |       |   |
| Total                                    |   | $      | 5,937,326  |   |

|                                 |   | 2008   |        |   | 2007   |   |
|--------------------------------------|--------|--------|-------------|--------|--------|--------|
| Sales                                |   | $      | 17,633,590  |   |   | $      | 14,944,551 |   |
| Cost of sales                        |   |   | (12,008,040 | )      |   |   | (10,332,197 | ) |
| G&A                              |   |   | (3,684,974  | )      |   |   | (3,058,364 | ) |
| Interest income (expense)            |   |   | (550,626    | )      |   |   | 295,038 |   |
| Income from continuing operations    |   |   | 1,389,950   |   |   |   | 1,849,028 |   |
| Loss on sale of Web’s Biggest  |   |   | —     |   |   |   | (1,226,061 | ) |
| Income from discontinuing operations |   |   | —     |   |   |   | 170,053 |   |
| Net income                           |   | $      | 1,389,950   |   |   | $      | 793,020 |   |

----

PART

Item

| Name               |   | Age |   | Position                                      |   |
|--------------------|--------|-----|--------|-----------------------------------------------|--------|
| Adam Radly         |   | 39  |   | Chief Executive Officer, President, Treasurer |   |
| Paul Aunger        |   | 49  |   | Secretary, Director                           |   |
| Jeffrey Mandelbaum |   | 44  |   | Director                                      |   |
| Bob Bates          |   | 40  |   | Chief Financial Officer                       |   |

----

Item

| Name and principalposition          | Year |   | Management fee ($) |    |   | Stock Awards ($) |   |   | Total ($) |   |
|-------------------------------------|------|--------|--------------------|---------|--------|------------------|--------|--------|-----------|--------|
| Adam Radly, Chairman and CEO        | 2008 |   |               | 120,000 |   |             |   | -0-    |      |   |   | -0- |   |
| Adam Radly, Chairman and CEO        | 2007 |   |               | 120,000 |   |             |   | -0-    |      |   |   | -0- |   |
| Paul Aunger, Secretary and Director | 2008 |   |               | 60,000  |   |             |   | -0-    |      |   |   | 0 |   |
| Paul Aunger, Secretary and Director | 2007 |   |               | 60,000  |   |             |   | -0-    |      |   |   | -0- |   |

----

Item

| Equity Compensation Plan Information                    |
|---------------------------------------------------------|
| Plan category                                           | Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) | Weighted-average exercise price of outstanding options, warrants and rights (b) | Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) |
| Equitycompensationplans approved bysecurity holders     | -0- | -0- | 22,500,000 (1) |
| Equitycompensationplans not approvedby security holders | -0- | -0- | -0- |
| Total                                                   | -0- | -0- | 22,500,000 (1) |

| Name and Address of BeneficialOwner (1)    | Number of Shares Beneficially Owned       |       | Percent of Class |
|--------------------------------------------|-------------------------------------------|--------------------------------|------------------|
| Adam Radly - CEO and related entities      | 28,446,904 Common Stock, $0.001 Par Value |                 | 59.5%            |
|                                       |                                      |                           |             |
| Paul Aunger-Secretary and related entities | 16,683,127                                |                           | 34.9%            |

| (1)   | The address for these owners is 233 Wilshire Blvd, Suite 300 Santa Monica, CA 90401                       |
|-----------------|-----------------------------------------------------------------------------------------------------------|
| (2)   | There are approximately 28 shareholders of record, 1 of which is a holder for several hundred individuals |

----

Item

Item

| Exhibit Number | Description                                                                                                                                                                               |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1           | Certification  of  the  Chief  Executive Officer required by Rule  13a  -  14(a)  or  Rule  15d  -  14(a).     |
| 31.2           | Certification  of  the  Chief  Financial Officer required by Rule  13a  -  14(a)  or  Rule  15d  -  14(a).     |
| 32.1           | Certification  of  the  Chief  Executive Officer required by Rule  13a  -  14(b)  or Rule 15d - 14(b) and 18 U.S.C. 1350.          |
| 32.2           | Certification  of  the  Chief  Financial Officer required by Rule  13a  -  14(b)  or Rule 15d - 14(b) and 18 U.S.C. 1350.          |

Item

----

| Signature       |  Name and Title         | Date           |
|-----------------|------------------------------|----------------|
|            |                         |           |
| /s/ Adam Radly  |  Adam Radly             |           |
|            |  Chairman and CEO       | April 19, 2011 |
|            |                         |           |
| /s/ Bob Bates   |  Bob Bates              |           |
|            |  CFO                    | April 19, 2011 |
|            |                         |           |
| /s/ Paul Aunger |  Paul Aunger            |           |
|            |  Secretary and Director | April 19, 2011 |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                                                |   |
|----------------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS (UNAUDITED)                                                |   |
|                                                                                   |   |
|                                                                                   |   | July 31, 2008 |   |   |   |   |
|                                                                                   |   | Restated |   |   | April 30, 2008 |   |
| ASSETS                                                                                 |   |   |   |   |   |   |
|                                                                                   |   |   |   |   |   |   |
| Current assets                                                                         |   |   |   |   |   |   |
| Cash                                                                                   |   | $ | 256,805 |   |   | $ | 12,167 |   |
| Accounts receivables, net                                                              |   |   | 3,067,870 |   |   |   | 3,003,170 |   |
| Inventory                                                                              |   |   | 103,658 |   |   |   | 101,679 |   |
| Cost in excess of billing                                                              |   |   | 180,958 |   |   |   | 198,655 |   |
| Deferred financing costs                                                               |   |   | - |   |   |   | 97,500 |   |
| Prepaid and other current assets                                                       |   |   | 580,771 |   |   |   | 234,645 |   |
|                                                                                   |   |   |   |   |   |   |   |   |
| Total current assets                                                                   |   |   | 4,190,062 |   |   |   | 3,647,816 |   |
|                                                                                   |   |   |   |   |   |   |   |   |
| Fixed assets, net                                                                      |   |   | 186,268 |   |   |   | 183,926 |   |
| Intangible assets, net                                                                 |   |   | 737,224 |   |   |   | 845,332 |   |
| Goodwill                                                                               |   |   | 5,904,782 |   |   |   | 5,904,782 |   |
|                                                                                   |   |   |   |   |   |   |   |   |
| Total assets                                                                           |   | $ | 11,018,336 |   |   | $ | 10,581,856 |   |
|                                                                                   |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS EQUITY                                                    |   |   |   |   |   |   |   |   |
|                                                                                   |   |   |   |   |   |   |   |   |
| Current liabilities                                                                    |   |   |   |   |   |   |   |   |
| Accounts payable                                                                       |   |   | 2,382,941 |   |   | $ | 1,746,889 |   |
| Accrued liabilities                                                                    |   |   | 724,916 |   |   |   | 849,346 |   |
| Short term debt - related parties                                                      |   |   | 1,924,656 |   |   |   | 3,358,323 |   |
| Short term debt, net of unamortized discounts of $1,028,842 and $845,095, respectively |   |   | 1,909,567 |   |   |   | 2,370,442 |   |
| Derivative liabilities                                                                 |   |   | 1,589,688 |   |   |   | 1,312,768 |   |
| Deferred income                                                                        |   |   | 520,475 |   |   |   | 403,792 |   |
|                                                                                   |   |   |   |   |   |   |   |   |
| Total current liabilities                                                              |   |   | 9,052,243 |   |   |   | 10,041,560 |   |
|                                                                                   |   |   |   |   |   |   |   |   |
| Long term debt - related parties                                                       |   |   | 137,192 |   |   |   | 142,532 |   |
|                                                                                   |   |   |   |   |   |   |   |   |
| Total liabilities                                                                      |   |   | 9,189,435 |   |   |   | 10,184,092 |   |
|                                                                                   |   |   |   |   |   |   |   |   |
| Stockholders' equity                                                                   |   |   |   |   |   |   |   |   |
| Convertible preferred stock, $0.001 par value; 25,000,000                              |   |   |   |   |   |   |   |   |
|  shares authorized; 0 and 4,951,000 issued and outstanding                        |   |   | - |   |   |   | 4,951 |   |
| Common stock, $0.001 par value; 750,000,000 shares                                     |   |   | 48,723 |   |   |   | 30,000 |   |
|  authorized; 48,723,299 shares and 30,000,000                                     |   |   |   |   |   |   |   |   |
|  shares issued and outstanding, respectively                                      |   |   |   |   |   |   |   |   |
| Additional paid-in capital                                                             |   |   | 4,384,090 |   |   |   | 2,904,602 |   |
| Accumulated deficit                                                                    |   |   | (2,603,912 | ) |   |   | (2,541,789 | ) |
|  Total stockholders' equity                                                       |   |   | 1,828,901 |   |   |   | 397,764 |   |
| Total liabilities and stockholders' equity                                             |   | $ | 11,018,336 |   |   | $ | 10,581,856 |   |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                                |
|------------------------------------------------------------------------|
| CONSOLIDATED STATEMENTS OF OPERATIONS                                  |
| For the three months ended July 31, 2008 and July 31, 2007 (unaudited) |

|                                  |   | 2008Restated |       |    | 2007   |   |
|---------------------------------------|--------|--------------|------------|---------|--------|--------|
|                                  |   |         |       |    |   |   |
| REVENUES                              |   | $            | 5,892,315  |    |   | $      | 385,112 |   |
|                                  |   |         |       |    |   |   |   |   |
| Cost of revenues                      |   |         | (4,040,229 | )       |   |   | (145,263 | ) |
| Operating expenses                    |   |         | (1,418,604 | )       |   |   | (170,251 | ) |
|                                  |   |         |       |    |   |   |   |   |
| OPERATING INCOME                      |   |         | 433,482    |    |   |   | 69,598 |   |
| (Gain)/loss on derivative liabilities |   |         | 12,438     |    |   |   | - |   |
| Interest expense                      |   |         | (508,043   | )       |   |   | (31,695 | ) |
|                                  |   |         |       |    |   |   |   |   |
| NET INCOME (LOSS)                     |   | $            | (62,123    | )  |   | $      | 37,903 |   |
|                                  |   |         |       |    |   |   |   |   |
|                                  |   |         |       |    |   |   |   |   |
| Basic and diluted income per share    |   | $            | 0.00       |    |   | $      | 0.03 |   |
|                                  |   |         |       |    |   |   |   |   |
| Weighted average common shares        |   |         | 48,243,539 |    |   |   | 1,500,000 |   |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                       |   |
|---------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOWS                         |   |
| For the three months ended July 31, 2008 and 2007 (unaudited) |   |
|                                                          |   |   |   |   |   |   |
|                                                          |   | 2008 |   |   |   |   |
|                                                          |   | Restated |   |   | 2007 |   |
|                                                          |   |   |   |   |   |   |
| CASH FLOWS OPERATING ACTIVITIES                               |   |   |   |   |   |   |
| Net income                                                    |   | $ | (62,123 | ) |   | $ | 37,903 |   |
|                                                          |   |   |   |   |   |   |   |   |
| Adjustments to reconcile net income to cash provided by       |   |   |   |   |   |   |   |   |
| operating activities:                                         |   |   |   |   |   |   |   |   |
| Additional shares issued for debt conversion                  |   |   | 126,340 |   |   |   | 2,225 |   |
| Depreciation                                                  |   |   | 9,214 |   |   |   | 30,054 |   |
| Management fees added to related party note payable           |   |   | 30,000 |   |   |   | 0 |   |
| Amortization of loan discounts and deferred financing costs   |   |   | 409,799 |   |   |   | 0 |   |
| Amortization of intangible assets                             |   |   | 108,108 |   |   |   |   |   |
| Derivative loss                                               |   |   | 12,438 |   |   |   |   |   |
| Shares issued for financing costs                             |   |   | 76,762 |   |   |   |   |   |
| Changes in operating assets and liabilities:                  |   |   |   |   |   |   |   |   |
| Accounts payable and accrued expenses                         |   |   | 657,173 |   |   |   | 40,878 |   |
| Accounts receivable                                           |   |   | (64,700 | ) |   |   | 31,190 |   |
| Inventory                                                     |   |   | (9,119 | ) |   |   | 540 |   |
| Costs in excess of billings                                   |   |   | 24,837 |   |   |   |   |   |
| Deferred income                                               |   |   | 116,683 |   |   |   |   |   |
| Prepaid expenses and other current assets                     |   |   | (346,126 | ) |   |   | 10,784 |   |
|                                                          |   |   |   |   |   |   |   |   |
| Net cash provided by operating activities                     |   |   | 1,089,286 |   |   |   | 153,574 |   |
|                                                          |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                          |   |   |   |   |   |   |   |   |
| Purchase of fixed assets                                      |   |   | (11,556 | ) |   |   | (2,215 | ) |
|                                                          |   |   |   |   |   |   |   |   |
| Net cash used in investing activities                         |   |   | (11,556 | ) |   |   | (2,215 | ) |
|                                                          |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                          |   |   |   |   |   |   |   |   |
| Proceeds from loans                                           |   |   | 671,125 |   |   |   | 110,000 |   |
| Repayment of loans                                            |   |   | (1,001,128 | ) |   |   | (237,508 | ) |
| Repayment of loans - related parties                          |   |   | (503,089 | ) |   |   | 0 |   |
|                                                          |   |   |   |   |   |   |   |   |
| Net cash used in financing activities                         |   |   | (833,092 | ) |   |   | (127,508 | ) |
|                                                          |   |   |   |   |   |   |   |   |
| NET CHANGE IN CASH                                            |   |   | 244,638 |   |   |   | 23,851 |   |
| CASH AT BEGINNING OF PERIOD                                   |   |   | 12,167 |   |   |   | 22,847 |   |
|                                                          |   |   |   |   |   |   |   |   |
| CASH AT END OF PERIOD                                         |   | $ | 256,805 |   |   | $ | 46,698 |   |
|                                                          |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL INFORMATION:                                     |   |   |   |   |   |   |   |   |
| Interest paid                                                 |   | $ | 42,209 |   |   | $ | 15,127 |   |
| Income taxes paid                                             |   | $ | 0 |   |   | $ | 0 |   |
|                                                          |   |   |   |   |   |   |   |   |
| NONCASH INVESTING AND FINANCING ACTIVITIES:                   |   |   |   |   |   |   |   |   |
| Discount on note payable from beneficial conversion feature   |   | $ | 182,642 |   |   | $ | 54,427 |   |
| Discount on note payable from warrants                        |   |   | 30,755 |   |   |   | 54,428 |   |
| Discount on note payable from derivatives                     |   |   | 264,482 |   |   |   |   |   |
| Common stock issued for debt                                  |   |   | 1,087,246 |   |   |   | 0 |   |
| Preferred stock converted to common stock                     |   |   | 6,276 |   |   |   | 0 |   |
| Net liabilities assumed under the Right Tag acquisition       |   |   | 0 |   |   |   | 111,572 |   |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                                                                                                                                                                         |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS (UNAUDITED)                                                                                                                                                                         |   |
|                                                                                                                                                                                                            |   |
|                                                                                                                                                                                                            |   | October 31, 2008 |   |   |   |   |
|                                                                                                                                                                                                            |   | Restated |   |   | April 30, 2008 |   |
| ASSETS                                                                                                                                                                                                          |   |   |   |   |   |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |
| Current assets                                                                                                                                                                                                  |   |   |   |   |   |   |
| Cash                                                                                                                                                                                                            |   | $ | 624,324 |   |   | $ | 12,167 |   |
| Accounts receivables                                                                                                                                                                                            |   |   | 4,380,597 |   |   |   | 3,003,170 |   |
| Inventory                                                                                                                                                                                                       |   |   | 262,573 |   |   |   | 101,679 |   |
| Deferred financing costs                                                                                                                                                                                        |   |   | 0 |   |   |   | 97,500 |   |
| Costs in excess of billings                                                                                                                                                                                     |   |   | 82,512 |   |   |   | 198,655 |   |
| Prepaid and other current assets                                                                                                                                                                                |   |   | 164,790 |   |   |   | 234,645 |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Total current assets                                                                                                                                                                                            |   |   | 5,514,796 |   |   |   | 3,647,816 |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Fixed assets                                                                                                                                                                                                    |   |   | 1,779,952 |   |   |   | 183,926 |   |
| Intangible assets                                                                                                                                                                                               |   |   | 1,754,908 |   |   |   | 845,332 |   |
| Goodwill                                                                                                                                                                                                        |   |   | 8,873,755 |   |   |   | 5,904,782 |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Total assets                                                                                                                                                                                                    |   | $ | 17,923,411 |   |   | $ | 10,581,856 |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                                                            |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Current liabilities                                                                                                                                                                                             |   |   |   |   |   |   |   |   |
| Accounts payable                                                                                                                                                                                                |   | $ | 3,707,986 |   |   | $ | 1,746,889 |   |
| Accrued liabilities                                                                                                                                                                                             |   |   | 906,172 |   |   |   | 849,346 |   |
| Short term debt, net of unamortized discount of $2,715,728 and $845,095, respectively                                                                                                                           |   |   | 4,427,511 |   |   |   | 2,370,442 |   |
| Short term debt - related parties                                                                                                                                                                               |   |   | 1,927,752 |   |   |   | 3,358,323 |   |
| Derivative liabilities                                                                                                                                                                                          |   |   | 5,176,953 |   |   |   | 1,312,768 |   |
| Deferred income                                                                                                                                                                                                 |   |   | 519,172 |   |   |   | 403,792 |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Total current liabilities                                                                                                                                                                                       |   |   | 16,665,546 |   |   |   | 10,041,560 |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Long term debt - related parties                                                                                                                                                                                |   |   | 117,716 |   |   |   | 142,532 |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Total liabilities                                                                                                                                                                                               |   |   | 16,783,262 |   |   |   | 10,184,092 |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Stockholders' equity                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Convertible preferred stock, $0.001 par value; 25,000,000      shares authorized; 1,500,000 and 4,951,000      issued and outstanding, respectively |   |   | 1,500 |   |   |   | 4,951 |   |
| Common stock, $0.001 par value; 150,000,000 shares authorized; 49,011,574 and  30,000,000 shares outstanding, respectively                                                                       |   |   | 49,012 |   |   |   | 30,000 |   |
| Additional paid-in capital                                                                                                                                                                                      |   |   | 5,734,201 |   |   |   | 2,904,602 |   |
| Accumulated deficit                                                                                                                                                                                             |   |   | (4,644,564 | ) |   |   | (2,541,789 | ) |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Total stockholders' equity                                                                                                                                                                                      |   |   | 1,140,149 |   |   |   | 397,764 |   |
|                                                                                                                                                                                                            |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders' equity                                                                                                                                                                      |   | $ | 17,923,411 |   |   | $ | 10,581,856 |   |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES           |   |
|---------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) |   |
| Three Months Ended October 31, 2008 and 2007      |   |
|                                              |   |   |   |   |   |   |
|                                              |   | 2008 |   |   |   |   |
|                                              |   | Restated |   |   | 2007 |   |
|                                              |   |   |   |   |   |   |
| REVENUES                                          |   | $ | 6,781,041 |   |   | $ | 90,954 |   |
|                                              |   |   |   |   |   |   |   |   |
| Cost of revenues                                  |   |   | (4,956,558 | ) |   |   | (65,255 | ) |
| Operating expenses                                |   |   | (1,585,714 | ) |   |   | (142,620 | ) |
|                                              |   |   |   |   |   |   |   |   |
| OPERATING INCOME                                  |   |   | 238,769 |   |   |   | (116,921 | ) |
|                                              |   |   |   |   |   |   |   |   |
| Other income (expense):                           |   |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |   |
| Gain/(loss) on derivative liabilities             |   |   | (1,729,131 | ) |   |   | 0 |   |
| Interest expense                                  |   |   | (550,290 | ) |   |   | (127,163 | ) |
|                                              |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS)                                 |   | $ | (2,040,652 | ) |   | $ | (244,084 | ) |
|                                              |   |   |   |   |   |   |   |   |
| Basic and diluted income (loss) per share:        |   |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding        |   |   | 49,011,574 |   |   |   | 1,814,660 |   |
|                                              |   |   |   |   |   |   |   |   |
| Earnings (Loss) per share                         |   |   | (0.04 | ) |   |   | (0.13 | ) |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES           |   |
|---------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) |   |
| Six Months Ended October 31, 2008 and 2007        |   |
|                                              |   |   |   |   |   |   |
|                                              |   | 2008 |   |   |   |   |
|                                              |   | Restated |   |   | 2007 |   |
|                                              |   |   |   |   |   |   |
| REVENUES                                          |   | $ | 12,673,356 |   |   | $ | 476,066 |   |
|                                              |   |   |   |   |   |   |   |   |
| Cost of revenues                                  |   |   | (8,996,787 | ) |   |   | (210,518 | ) |
| Operating expenses                                |   |   | (2,979,442 | ) |   |   | (295,731 | ) |
|                                              |   |   |   |   |   |   |   |   |
| OPERATING INCOME                                  |   |   | 697,127 |   |   |   | (30,183 | ) |
|                                              |   |   |   |   |   |   |   |   |
| Other income (expense):                           |   |   |   |   |   |   |   |   |
| Gain/(loss) on derivative liabilities             |   |   | (1,741,569 | ) |   |   | 0 |   |
| Interest expense                                  |   |   | (1,058,333 | ) |   |   | (175,998 | ) |
|                                              |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS)                                 |   | $ | (2,102,775 | ) |   | $ | (206,181 | ) |
|                                              |   |   |   |   |   |   |   |   |
| Basic and diluted income (loss) per share:        |   |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding        |   |   | 48,754,320 |   |   |   | 36,293,200 |   |
|                                              |   |   |   |   |   |   |   |   |
| Earnings (Loss) per share                         |   |   | (0.04 | ) |   |   | (0.01 | ) |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                      |   |
|--------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOWS                        |   |
| Six months ended October 31, 2008 and 2007                   |   |
|                                                         |   |   |   |   |   |   |
|                                                         |   | 2008 |   |   |   |   |
|                                                         |   | Restated |   |   | 2007 |   |
| CASH FLOWS OPERATING ACTIVITIES                              |   |   |   |   |   |   |
| Net loss                                                     |   | $ | (2,102,775 | ) |   | $ | (206,181 | ) |
| Changes in operating assets and liabilities:                 |   |   |   |   |   |   |   |   |
| Additional shares issued for conversion of debt              |   |   | - |   |   |   | 80,150 |   |
| Depreciation                                                 |   |   | 185,123 |   |   |   | 9,129 |   |
| Amortization of loan discount and deferred financing costs   |   |   | 843,836 |   |   |   | - |   |
| Amortization of intangible assets                            |   |   | 262,957 |   |   |   | 60,108 |   |
| Derivative loss                                              |   |   | 1,741,569 |   |   |   | - |   |
| Management fee added to related party note payable           |   |   | 30,000 |   |   |   | - |   |
| Shares issued for financing costs                            |   |   | 76,762 |   |   |   | - |   |
| Additional interest expense                                  |   |   | 126,340 |   |   |   | - |   |
| Changes in operating assets and liabilities:                 |   |   |   |   |   |   |   |   |
| Accounts receivable                                          |   |   | (1,377,427 | ) |   |   | 127,739 |   |
| Inventory                                                    |   |   | (102,894 | ) |   |   | 272 |   |
| Cost in excess of billing                                    |   |   | 116,143 |   |   |   | - |   |
| Prepaid assets and other current assets                      |   |   | 76,426 |   |   |   | 335,899 |   |
| Deferred income                                              |   |   | 115,380 |   |   |   | - |   |
| Accrued payable                                              |   |   | 1,960,754 |   |   |   | 58,305 |   |
| Accrued expenses                                             |   |   | 163,043 |   |   |   | 40,736 |   |
|                                                         |   |   |   |   |   |   |   |   |
| NET CASH PROVIDED BY OPERATING ACTIVITIES                    |   |   | 2,115,237 |   |   |   | 506,157 |   |
|                                                         |   |   |   |   |   |   |   |   |
| CASH FLOW INVESTING ACTIVITIES                               |   |   |   |   |   |   |   |   |
| Investment in Desert                                         |   |   | - |   |   |   | (100,000 | ) |
| Cash acquired from acquisition-Trakkers                      |   |   | 66,614 |   |   |   | (325,000 | ) |
| Cash paid for acquisition-Trakkers                           |   |   | (2,717,900 | ) |   |   | (2,215 | ) |
|                                                         |   |   |   |   |   |   |   |   |
| NET CASH USED IN INVESTING ACTIVITIES                        |   |   | (2,651,286 | ) |   |   | (427,215 | ) |
|                                                         |   |   |   |   |   |   |   |   |
| CASH FLOW FINANCING ACTIVITIES                               |   |   |   |   |   |   |   |   |
| Proceeds from notes payable-related parties                  |   |   | 56,031 |   |   |   | 273,396 |   |
| Payments on debt                                             |   |   | (1,549,443 | ) |   |   | - |   |
| Payments on debt-related parties                             |   |   | (531,363 | ) |   |   | (350,295 | ) |
| Proceeds from notes payable                                  |   |   | 3,172,981 |   |   |   | - |   |
|                                                         |   |   |   |   |   |   |   |   |
| NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES          |   |   | 1,148,206 |   |   |   | (76,899 | ) |
|                                                         |   |   |   |   |   |   |   |   |
| NET CHANGE IN CASH                                           |   |   | 612,157 |   |   |   | 2,043 |   |
|                                                         |   |   |   |   |   |   |   |   |
| CASH AT BEGINNING OF YEAR                                    |   |   | 12,167 |   |   |   | 22,847 |   |
|                                                         |   |   |   |   |   |   |   |   |
| CASH AT END OF PERIOD                                        |   | $ | 624,324 |   |   | $ | 24,890 |   |
|                                                         |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL INFORMATION:                                    |   |   |   |   |   |   |   |   |
|                                                         |   |   |   |   |   |   |   |   |
| Interest paid                                                |   | $ | 174,546 |   |   | $ | 0 |   |
| Income taxes paid                                            |   | $ | 0 |   |   | $ | 0 |   |
|                                                         |   |   |   |   |   |   |   |   |
| Common stock issued to settle debt                           |   | $ | 1,131,640 |   |   | $ | 92,324 |   |
| Shares issued for accounts payable - related parties         |   |   | - |   |   |   | 57,250 |   |
| Discount on notes payable from beneficial conversion feature |   |   | 182,642 |   |   |   | 54,427 |   |
| Discount on notes payable from warrants                      |   |   | 30,755 |   |   |   | 54,428 |   |
| Net liabilities assumed under the Right-Tag Acquisition      |   |   | - |   |   |   | 111,572 |   |
| Preferred stock converted to common stock                    |   |   | 6,276 |   |   |   | - |   |
| Debt and preferred stock issued to purchase Trakkers, LLC    |   |   | 3,335,595 |   |   |   | - |   |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                                                                                                              |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS (UNAUDITED)                                                                                                              |   |
|                                                                                                                                                 |   |
|                                                                                                                                                 |   |   |   |   |   |   |
|                                                                                                                                                 |   | January 31, 2009Restated |   |   | April 30, 2008 |   |
| ASSETS                                                                                                                                               |   |   |   |   |   |   |
|                                                                                                                                                 |   |   |   |   |   |   |
| Current assets                                                                                                                                  |   |   |   |   |   |   |
| Cash                                                                                                                                                 |   | $ | 316,805 |   |   | $ | 12,167 |   |
| Accounts receivable, net                                                                                                                             |   |   | 3,197,010 |   |   |   | 3,003,170 |   |
| Inventory                                                                                                                                            |   |   | 558,681 |   |   |   | 101,679 |   |
| Deferred financing costs                                                                                                                             |   |   | - |   |   |   | 97,500 |   |
| Costs in excess of billings                                                                                                                          |   |   | 167,740 |   |   |   | 198,655 |   |
| Prepaid and other current assets                                                                                                                     |   |   | 142,798 |   |   |   | 234,645 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Total current assets                                                                                                                                 |   |   | 4,383,034 |   |   |   | 3,647,816 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Fixed assets, net of depreciation                                                                                                               |   |   | 1,761,173 |   |   |   | 183,926 |   |
| Intangible assets, net of amortization                                                                                                          |   |   | 1,558,348 |   |   |   | 845,332 |   |
| Goodwill                                                                                                                                             |   |   | 8,873,755 |   |   |   | 5,904,782 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Total assets                                                                                                                                    |   | $ | 16,576,310 |   |   | $ | 10,581,856 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                 |   |   |   |   |   |   |   |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Current liabilities                                                                                                                             |   |   |   |   |   |   |   |   |
| Accounts payable                                                                                                                                     |   | $ | 2,019,477 |   |   | $ | 1,746,889 |   |
| Accrued liabilities                                                                                                                                  |   |   | 1,016,361 |   |   |   | 849,346 |   |
| Short term debt, net of unamortized discount of $2,578,129 and $845,095, respectively                                                                |   |   | 5,075,129 |   |   |   | 2,370,442 |   |
| Short term debt - related parties                                                                                                                    |   |   | 1,916,155 |   |   |   | 3,358,323 |   |
| Derivative liabilities                                                                                                                               |   |   | 5,153,339 |   |   |   | 1,312,768 |   |
| Deferred income                                                                                                                                      |   |   | 503,576 |   |   |   | 403,792 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Total current liabilities                                                                                                                            |   |   | 15,684,037 |   |   |   | 10,041,560 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Long term debt - related parties                                                                                                                     |   |   | 122,716 |   |   |   | 142,532 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Total liabilities                                                                                                                                    |   |   | 15,806,753 |   |   |   | 10,184,092 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Stockholders' equity                                                                                                                            |   |   |   |   |   |   |   |   |
| Convertible preferred stock, $0.001 par value; 25,000,000 shares authorized; 1,500,000 and 4,951,000  issued and outstanding, respectively |   |   | 1,500 |   |   |   | 4,951 |   |
| Common stock, $0.001 par value; 150,000,000 shares authorized; 49,011,574 and  30,000,000 shares outstanding, respectively            |   |   | 49,012 |   |   |   | 30,000 |   |
| Additional paid-in capital                                                                                                                      |   |   | 5,734,201 |   |   |   | 2,904,602 |   |
| Accumulated deficit                                                                                                                             |   |   | (5,015,156 | ) |   |   | (2,541,789 | ) |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Total stockholders' equity                                                                                                                           |   |   | 769,557 |   |   |   | 397,764 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders' equity                                                                                                      |   | $ | 16,576,310 |   |   | $ | 10,581,856 |   |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                          |   |
|------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS                            |   |
| For the three months ended January 31, 2009 and 2008 (unaudited) |   |
|                                                             |   |   |   |   |   |   |
|                                                             |   | 2009 |   |   |   |   |
|                                                             |   | Restated |   |   | 2008 |   |
|                                                             |   |   |   |   |   |   |
|                                                             |   |   |   |   |   |   |
| REVENUES                                                         |   | $ | 5,338,688 |   |   | $ | 1,018,853 |   |
|                                                             |   |   |   |   |   |   |   |   |
| Cost of revenues                                            |   |   | (3,249,600 | ) |   |   | (676,320 | ) |
| Operating expenses                                          |   |   | (1,953,461 | ) |   |   | (782,759 | ) |
|                                                             |   |   |   |   |   |   |   |   |
| OPERATING INCOME (LOSS)                                          |   |   | 135,627 |   |   |   | (440,226 | ) |
|                                                             |   |   |   |   |   |   |   |   |
| Other income (expense):                                     |   |   |   |   |   |   |   |   |
| Gain/(loss) on derivative liabilities                            |   |   | 247,976 |   |   |   | - |   |
| Interest expense                                                 |   |   | (767,290 | ) |   |   | (252,729 | ) |
| Interest income                                                  |   |   | 134 |   |   |   | - |   |
| Other income                                                     |   |   | 12,961 |   |   |   | - |   |
|                                                             |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS)                                                |   | $ | (370,592 | ) |   | $ | (692,955 | ) |
|                                                             |   |   |   |   |   |   |   |   |
| Weighted average common shares                              |   |   | 49,011,574 |   |   |   | 30,000,000 |   |
| Basic and diluted loss per share:                                |   | $ | (0.01 | ) |   | $ | (0.02 | ) |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                         |   |
|-----------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS                           |   |
| For the nine months ended January 31, 2009 and 2008 (unaudited) |   |
|                                                            |   |   |   |   |   |   |
|                                                            |   |   |   |   |   |   |
|                                                            |   | 2009Restated |   |   | 2008Restated |   |
|                                                            |   |   |   |   |   |   |
|                                                            |   |   |   |   |   |   |
| Revenues                                                   |   | $ | 18,012,044 |   |   | $ | 1,494,919 |   |
|                                                            |   |   |   |   |   |   |   |   |
| Cost of revenues                                           |   |   | (12,246,387 | ) |   |   | (886,838 | ) |
| Operating expenses                                         |   |   | (4,934,416 | ) |   |   | (1,097,340 | ) |
|                                                            |   |   |   |   |   |   |   |   |
| OPERATING INCOME (LOSS)                                         |   |   | 831,241 |   |   |   | (489,259 | ) |
|                                                            |   |   |   |   |   |   |   |   |
| Other income (expense):                                    |   |   |   |   |   |   |   |   |
| Gain/(loss) on derivative liabilities                           |   |   | (1,493,593 | ) |   |   | - |   |
| Interest expense                                                |   |   | (1,825,623 | ) |   |   | (409,877 | ) |
| Interest income                                                 |   |   | 1,647 |   |   |   | - |   |
| Other income                                                    |   |   | 12,961 |   |   |   | - |   |
|                                                            |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS)                                               |   | $ | (2,473,367 | ) |   | $ | (899,136 | ) |
|                                                            |   |   |   |   |   |   |   |   |
|                                                            |   |   |   |   |   |   |   |   |
| Weighted average common shares                             |   |   | 48,882,492 |   |   |   | 30,000,000 |   |
| Basic and diluted loss per share                                |   | $ | (0.05 | ) |   | $ | (0.03 | ) |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                      |   |
|--------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOWS                        |   |
| Nine Months ended January 31, 2009 and 2008                  |   |
|                                                         |   |   |   |   |   |   |
|                                                         |   | 2009 |   |   |   |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                         |   | Restated |   |   | 2008 |   |
|                                                         |   |   |   |   |   |   |
| Net loss                                                     |   | $ | (2,473,367 | ) |   | $ | (899,136 | ) |
| Adjustments to reconcile net loss to net cash                |   |   |   |   |   |   |   |   |
| provided by operating activities:                            |   |   |   |   |   |   |   |   |
| Depreciation expense                                         |   |   | 203,902 |   |   |   | 298,852 |   |
| Amortization of loan discounts and deferred financing costs  |   |   | 1,215,835 |   |   |   | - |   |
| Amortization of intangible assets                            |   |   | 446,189 |   |   |   | - |   |
| Derivative loss                                              |   |   | 1,493,593 |   |   |   | - |   |
| Additional shares issued for debt conversion                 |   |   | 126,340 |   |   |   | 80,151 |   |
| Management fee added to related party note payable           |   |   | 30,000 |   |   |   |   |   |
| Shares issued for financing costs                            |   |   | 76,762 |   |   |   |   |   |
| Changes in operating assets and liabilities:                 |   |   |   |   |   |   |   |   |
| Accounts receivable                                          |   |   | (193,840 | ) |   |   | 146,246 |   |
| Inventory                                                    |   |   | (399,002 | ) |   |   | (27,952 | ) |
| Cost in excess of billings                                   |   |   | 30,915 |   |   |   | - |   |
| Prepaid expenses and other current assets                    |   |   | 111,746 |   |   |   | 317,776 |   |
| Deferred income                                              |   |   | 99,784 |   |   |   | - |   |
| Accounts payable                                             |   |   | 272,245 |   |   |   | 874,139 |   |
| Accrued expenses                                             |   |   | 277,594 |   |   |   | 390,568 |   |
|                                                         |   |   |   |   |   |   |   |   |
| CASH PROVIDED BY OPERATING ACTIVITIES                        |   |   | 1,318,696 |   |   |   | 1,180,644 |   |
|                                                         |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                         |   |   |   |   |   |   |   |   |
| Cash paid for fixed assets                                   |   |   | - |   |   |   | (2,215 | ) |
| Cash paid for acquisition of Desert                          |   |   | - |   |   |   | (3,725,000 | ) |
| Cash paid for acquisition of Right Tag                       |   |   | - |   |   |   | (325,000 | ) |
| Cash acquired in acquisition of Trakkers/Tesselon            |   |   | 66,614 |   |   |   | - |   |
| Cash paid for acquisition of Trakkers/Tesselon               |   |   | (2,717,900 | ) |   |   | - |   |
|                                                         |   |   |   |   |   |   |   |   |
| CASH USED IN INVESTING ACTIVITIES                            |   |   | (2,651,286 | ) |   |   | (4,052,215 | ) |
|                                                         |   |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                         |   |   |   |   |   |   |   |   |
| Borrowings on debt - related parties                         |   |   | 61,031 |   |   |   | - |   |
| Borrowings on debt                                           |   |   | 4,282,822 |   |   |   | 3,920,510 |   |
| Capital contributions                                        |   |   | - |   |   |   | 15,520 |   |
| Principal payments on debt                                   |   |   | (2,163,665 | ) |   |   | (791,619 | ) |
| Principal payments on debt - related parties                 |   |   | (542,960 | ) |   |   | - |   |
|                                                         |   |   |   |   |   |   |   |   |
| CASH PROVIDED BY FINANCING ACTIVITIES                        |   |   | 1,637,228 |   |   |   | 3,144,411 |   |
|                                                         |   |   |   |   |   |   |   |   |
| NET INCREASE IN CASH                                         |   |   | 304,638 |   |   |   | 272,840 |   |
|                                                         |   |   |   |   |   |   |   |   |
| CASH AT BEGINNING OF YEAR                                    |   |   | 12,167 |   |   |   | 22,847 |   |
|                                                         |   |   |   |   |   |   |   |   |
| CASH AT YEAR END                                             |   | $ | 316,805 |   |   | $ | 295,687 |   |
|                                                         |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL INFORMATION:                               |   |   |   |   |   |   |   |   |
| Cash paid for interest                                       |   | $ | 261,819 |   |   | $ | - |   |
| Cash paid for income taxes                                   |   |   | 45,000 |   |   |   | 30,000 |   |
|                                                         |   |   |   |   |   |   |   |   |
| NON-CASH INVESTING AND FINANCING ACTIVITIES                  |   |   |   |   |   |   |   |   |
| Shares issued for conversion of loans                        |   |   | - |   |   |   | 692,324 |   |
| Shares issued for accounts payable-related parties      |   |   | - |   |   |   | 57,250 |   |
| Discount on notes payable from beneficial conversion feature |   |   | 182,642 |   |   |   | 54,427 |   |
| Discount on notes payable from warrants                      |   |   | 30,755 |   |   |   | 541,628 |   |
| Discount on notes payable from derivatives                   |   |   | 2,346,978 |   |   |   | - |   |
| Net liabilities assumed under the Right Tag acquisition      |   |   | - |   |   |   | 111,572 |   |
| Net assets acquired under the Desert acquisition             |   |   | - |   |   |   | 1,662,326 |   |
| Seller financing of Desert acquisition                       |   |   | - |   |   |   | 2,475,000 |   |
| Common stock issued for debt                                 |   |   | 1,131,640 |   |   |   | - |   |
| Preferred stock converted to common stock                    |   |   | 6,276 |   |   |   | - |   |
| Debt and preferred stock issued for Trakkers, LLC            |   |   | 3,335,595 |   |   |   | - |   |

----

| (1) To record change in fair value of derivatives liabilities resulting from reclassification of put warrants                             |
|-------------------------------------------------------------------------------------------------------------------------------------------|
| (2) To record additional debt discount amortization as a result of derivative liabilities resulting from reclassification of put warrants |
|                                                                                                                                      |
| (3) To record expense for a previously unrecorded liability and common stock issuance                                                     |
| (4) To record additional net loss as a result items above                                                                                 |
| (5) To record issuance of common stock previously unrecorded                                                                              |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                         |   |
|-----------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS (UNAUDITED)                         |   |
|                                                            |   |
|                                                            |   |   |   |   |   |   |   |   | July 31, 2008 |   |   |   |   |
|                                                            |   | July 31, 2008 |   |   | Adjustments |   |   |   | Restated |   |   | April 30, 2008 |   |
| ASSETS                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current assets                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                                                            |   | $ | 256,805 |   |   | $ | - |   |   |   | $ | 256,805 |   |   | $ | 12,167 |   |
| Accounts receivables, net                                       |   |   | 3,067,870 |   |   |   | - |   |   |   |   | 3,067,870 |   |   |   | 3,003,170 |   |
| Inventory                                                       |   |   | 103,658 |   |   |   | - |   |   |   |   | 103,658 |   |   |   | 101,679 |   |
| Cost in excess of billing                                       |   |   | 180,958 |   |   |   | - |   |   |   |   | 180,958 |   |   |   | 198,655 |   |
| Deferred financing costs                                        |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 97,500 |   |
| Prepaid and other current assets                                |   |   | 580,771 |   |   |   | - |   |   |   |   | 580,771 |   |   |   | 234,645 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total current assets                                            |   |   | 4,190,062 |   |   |   | - |   |   |   |   | 4,190,062 |   |   |   | 3,647,816 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed assets, net                                               |   |   | 186,268 |   |   |   | - |   |   |   |   | 186,268 |   |   |   | 183,926 |   |
| Intangible assets, net                                          |   |   | 737,224 |   |   |   | - |   |   |   |   | 737,224 |   |   |   | 845,332 |   |
| Goodwill                                                        |   |   | 5,904,782 |   |   |   | - |   |   |   |   | 5,904,782 |   |   |   | 5,904,782 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total assets                                                    |   | $ | 11,018,336 |   |   | $ | - |   |   |   | $ | 11,018,336 |   |   | $ | 10,581,856 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS EQUITY                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current liabilities                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts payable                                                |   | $ | 2,382,941 |   |   | $ | - |   |   |   | $ | 2,382,941 |   |   | $ | 1,746,889 |   |
| Accrued liabilities                                             |   |   | 146,233 |   |   |   | 578,683 |   | (4)  |   |   | 724,916 |   |   |   | 849,346 |   |
| Short term debt - related parties                               |   |   | 1,924,656 |   |   |   | - |   |   |   |   | 1,924,656 |   |   |   | 3,358,323 |   |
| Short term debt, net of unamortized discounts of $1,028,842 and |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $845,095, respectively                                          |   |   | 2,552,849 |   |   |   | (643,282 | ) | (2)  |   |   | 1,909,567 |   |   |   | 2,370,442 |   |
| Derivative liabilities                                          |   |   | - |   |   |   | 1,589,688 |   | (1)  |   |   | 1,589,688 |   |   |   | 1,312,768 |   |
| Deferred income                                                 |   |   | 520,475 |   |   |   | - |   |   |   |   | 520,475 |   |   |   | 403,792 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total current liabilities                                       |   |   | 7,527,154 |   |   |   | 1,525,089 |   |   |   |   | 9,052,243 |   |   |   | 10,041,560 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long term debt - related parties                                |   |   | 137,192 |   |   |   | - |   |   |   |   | 137,192 |   |   |   | 142,532 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total liabilities                                               |   |   | 7,664,346 |   |   |   | 1,525,089 |   |   |   |   | 9,189,435 |   |   |   | 10,184,092 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders' equity                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Convertible preferred stock, $0.001 par value; 25,000,000       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  shares authorized; 0 and 4,951,000 issued and outstanding |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 4,951 |   |
| Common stock, $0.001 par value; 750,000,000 shares              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  authorized; 48,723,299 shares and 30,000,000              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  shares issued and outstanding, respectively               |   |   | 48,240 |   |   |   | 483 |   | (5)  |   |   | 48,723 |   |   |   | 30,000 |   |
| Additional paid-in capital                                      |   |   | 5,071,594 |   |   |   | (687,504 | ) | (3),(5)  |   |   | 4,384,090 |   |   |   | 2,904,602 |   |
| Accumulated deficit                                             |   |   | (1,765,844 | ) |   |   | (838,068 | ) | (6)  |   |   | (2,603,912 | ) |   |   | (2,541,789 | ) |
|  Total stockholders' equity                                |   |   | 3,353,990 |   |   |   | (1,525,089 | ) |   |   |   | 1,828,901 |   |   |   | 397,764 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders' equity                      |   | $ | 11,018,336 |   |   | $ | - |   |   |   | $ | 11,018,336 |   |   | $ | 10,581,856 |   |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                                |   |
|------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF INCOME                                      |   |
| For the three months ended July 31, 2008 and July 31, 2007 (unaudited) |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   | 2008 |   |   |   |   |
|                                                                   |   | 2008 |   |   | Adjustments |   |   |   | Restated |   |   | 2007 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUES                                                               |   | $ | 5,892,315 |   |   | $ | - |   |   |   | $ | 5,892,315 |   |   | $ | 385,112 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of revenues                                                       |   |   | (4,040,229 | ) |   |   | - |   |   |   |   | (4,040,229 | ) |   |   | (145,263 | ) |
| Operating expenses                                                     |   |   | (1,287,347 | ) |   |   | (131,257 | ) | (3)  |   |   | (1,418,604 | ) |   |   | (170,251 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING INCOME                                                       |   |   | 564,739 |   |   |   | (131,257 | ) |   |   |   | 433,482 |   |   |   | 69,598 |   |
| (Gain)/loss on derivative liabilities                                  |   |   | - |   |   |   | 12,438 |   | (1)  |   |   | 12,438 |   |   |   | - |   |
| Interest expense                                                       |   |   | (262,923 | ) |   |   | (245,120 | ) | (2)  |   |   | (508,043 | ) |   |   | (31,695 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS)                                                      |   | $ | 301,816 |   |   | $ | (495,196 | ) |   |   | $ | (62,123 | ) |   | $ | 37,903 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted income per share                                     |   | $ | 0.01 |   |   | $ | (0.01 | ) | (4)  |   | $ | (0.00 | ) |   | $ | 0.03 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                         |   |   | 48,243,539 |   |   |   | 479,760 |   | (5)  |   |   | 48,723,299 |   |   |   | 1,500,000 |   |

----

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                                                                                                                                                                              |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS (UNAUDITED)                                                                                                                                                                              |   |
|                                                                                                                                                                                                                 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   | October 31, 2008 |   |   |   |   |
|                                                                                                                                                                                                                 |   | October 31, 2008 |   |   | Adjustments |   |   |   | Restated |   |   | April 30, 2008 |   |
| ASSETS                                                                                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current assets                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                                                                                                                                                                                                                 |   | $ | 624,324 |   |   | $ | - |   |   |   | $ | 624,324 |   |   | $ | 12,167 |   |
| Accounts receivables                                                                                                                                                                                                 |   |   | 4,380,597 |   |   |   | - |   |   |   |   | 4,380,597 |   |   |   | 3,003,170 |   |
| Inventory                                                                                                                                                                                                            |   |   | 262,573 |   |   |   | - |   |   |   |   | 262,573 |   |   |   | 101,679 |   |
| Deferred financing cost                                                                                                                                                                                              |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 97,500 |   |
| Costs in excess of billings                                                                                                                                                                                          |   |   | 82,512 |   |   |   | - |   |   |   |   | 82,512 |   |   |   | 198,655 |   |
| Prepaid and other current assets                                                                                                                                                                                     |   |   | 164,790 |   |   |   | - |   |   |   |   | 164,790 |   |   |   | 234,645 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total current assets                                                                                                                                                                                                 |   |   | 5,514,796 |   |   |   | - |   |   |   |   | 5,514,796 |   |   |   | 3,647,816 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed assets                                                                                                                                                                                                         |   |   | 1,779,952 |   |   |   | - |   |   |   |   | 1,779,952 |   |   |   | 183,926 |   |
| Intangible assets                                                                                                                                                                                                    |   |   | 1,754,908 |   |   |   | - |   |   |   |   | 1,754,908 |   |   |   | 845,332 |   |
| Goodwill                                                                                                                                                                                                             |   |   | 9,066,248 |   |   |   | (192,494 | ) | (5)  |   |   | 8,873,755 |   |   |   | 5,904,782 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total assets                                                                                                                                                                                                         |   | $ | 18,115,904 |   |   | $ | (192,494 | ) |   |   | $ | 17,923,411 |   |   | $ | 10,581,856 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current liabilities                                                                                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts payable                                                                                                                                                                                                     |   | $ | 3,707,986 |   |   | $ | - |   |   |   | $ | 3,707,986 |   |   | $ | 1,746,889 |   |
| Accrued liabilities                                                                                                                                                                                                  |   |   | 271,465 |   |   |   | 634,707 |   | (4)  |   |   | 906,172 |   |   |   | 849,346 |   |
| Short term debt, net of unamortized discount of $2,715,728 and                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $845,095, respectively                                                                                                                                                                                               |   |   | 6,348,337 |   |   |   | (1,920,826 | ) | (2)  |   |   | 4,427,511 |   |   |   | 2,370,442 |   |
| Short term debt - related parties                                                                                                                                                                                    |   |   | 1,927,752 |   |   |   | - |   |   |   |   | 1,927,752 |   |   |   | 3,358,323 |   |
| Derivative liabilities                                                                                                                                                                                               |   |   | - |   |   |   | 5,176,953 |   | (1)  |   |   | 5,176,953 |   |   |   | 1,312,768 |   |
| Deferred income                                                                                                                                                                                                      |   |   | 519,172 |   |   |   | - |   |   |   |   | 519,172 |   |   |   | 403,792 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total current liabilities                                                                                                                                                                                            |   |   | 12,774,712 |   |   |   | 3,890,834 |   |   |   |   | 16,665,546 |   |   |   | 10,041,560 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long term debt - related parties                                                                                                                                                                                     |   |   | 117,716 |   |   |   | - |   |   |   |   | 117,716 |   |   |   | 142,532 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total liabilities                                                                                                                                                                                                    |   |   | 12,892,428 |   |   |   | 3,890,834 |   |   |   |   | 16,783,262 |   |   |   | 10,184,092 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders' equity                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Convertible preferred stock, $0.001 par value; 25,000,000      shares authorized; 1,500,000 and 4,951,000      issued and outstanding, respectively      |   |   | 1,500 |   |   |   | - |   |   |   |   | 1,500 |   |   |   | 4,951 |   |
| Common stock, $0.001 par value; 750,000,000 and      150,000,000 shares authorized; 49,011,574 and      30,000,000 shares outstanding, respectively |   |   | 48,540 |   |   |   | 472 |   | (6)  |   |   | 49,012 |   |   |   | 30,000 |   |
| Additional paid-in capital                                                                                                                                                                                           |   |   | 7,246,495 |   |   |   | (1,512,294 | ) | (3),(6)  |   |   | 5,734,201 |   |   |   | 2,904,602 |   |
| Accumulated deficit                                                                                                                                                                                                  |   |   | (2,073,059 | ) |   |   | (2,571,505 | ) | (7)  |   |   | (4,644,564 | ) |   |   | (2,541,789 | ) |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total stockholders' equity                                                                                                                                                                                           |   |   | 5,223,476 |   |   |   | (4,083,327 | ) |   |   |   | 1,140,149 |   |   |   | 397,764 |   |
|                                                                                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders' equity                                                                                                                                                                           |   | $ | 18,115,904 |   |   | $ | (192,493 | ) |   |   | $ | 17,923,411 |   |   | $ | 10,581,856 |   |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES           |   |
|---------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) |   |
| Three Months Ending October 31, 2008 and 2007     |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |   | 2008 |   |   |   |   |
|                                              |   | 2008 |   |   | Adjustments |   |   |   | Restated |   |   | 2007 |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUES                                          |   | $ | 6,781,040 |   |   | $ | - |   |   |   | $ | 6,781,041 |   |   | $ | 90,954 |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of revenues                                  |   |   | (4,956,556 | ) |   |   | - |   |   |   |   | (4,956,558 | ) |   |   | (65,255 | ) |
| Operating expenses                                |   |   | (1,615,338 | ) |   |   | - |   |   |   |   | (1,585,714 | ) |   |   | (142,620 | ) |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING INCOME                                  |   |   | 209,146 |   |   |   | - |   |   |   |   | 238,769 |   |   |   | (116,921 | ) |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expense):                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Gain/(loss) on derivative liabilities             |   |   | - |   |   |   | (1,729,131 | ) | (1)  |   |   | (1,729,131 | ) |   |   | - |   |
| Interest expense                                  |   |   | (516,360 | ) |   |   | (33,930 | ) | (2)  |   |   | (550,290 | ) |   |   | (127,163 | ) |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET LOSS                                          |   | $ | (307,214 | ) |   | $ | (1,763,061 | ) |   |   | $ | (2,040,652 | ) |   | $ | (244,084 | ) |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted loss per share:                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding        |   |   | 48,532,860 |   |   |   | 478,714 |   | (4)  |   |   | 49,011,574 |   |   |   | 1,814,660 |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss per share                                    |   | $ | (0.01 | ) |   | $ | (0.04 | ) | (3)  |   | $ | (0.04 | ) |   | $ | (0.13 | ) |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES           |   |
|---------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) |   |
| Six Months Ending October 31, 2008 and 2007       |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |   | 2008 |   |   |   |   |
|                                              |   | 2008 |   |   | Adjustments |   |   |   | Restated |   |   | 2007 |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUES                                          |   | $ | 12,673,355 |   |   |   |   |   |   | $ | 12,673,356 |   |   | $ | 476,066 |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of revenues                                  |   |   | (8,996,785 | ) |   |   | - |   |   |   |   | (8,996,787 | ) |   |   | (210,518 | ) |
| Operating expenses                                |   |   | (2,902,685 | ) |   |   | (76,757 | ) | (3)  |   |   | (2,979,442 | ) |   |   | (295,731 | ) |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING INCOME                                  |   |   | 773,885 |   |   |   |   |   |   |   |   | 697,127 |   |   |   | (30,183 | ) |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expense):                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (Gain)/loss on derivative liabilities             |   |   | - |   |   |   | (1,741,569 | ) | (1)  |   |   | (1,741,569 | ) |   |   | - |   |
| Interest expense                                  |   |   | (779,283 | ) |   |   | (279,050 | ) | (2)  |   |   | (1,058,333 | ) |   |   | (175,998 | ) |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET LOSS                                          |   | $ | (5,398 | ) |   | $ | (2,097,376 | ) |   |   | $ | (2,102,775 | ) |   | $ | (206,181 | ) |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted loss per share:                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding        |   |   | 48,532,860 |   |   |   | 221,460 |   | (5)  |   |   | 48,754,320 |   |   |   | 36,293,200 |   |
|                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss per share                                    |   | $ | (0.00 | ) |   |   | (0.04 | ) | (4)  |   | $ | (0.04 | ) |   | $ | (0.01 | ) |

----

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                                                                                                              |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS (UNAUDITED)                                                                                                              |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   | January 31, 2009 |   |   |   |   |
|                                                                                                                                                 |   | January 31, 2009 |   |   | Adjustments |   |   |   | Restated |   |   | April 30, 2008 |   |
| ASSETS                                                                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current assets                                                                                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                                                                                                                                                 |   | $ | 316,805 |   |   | $ | - |   |   |   | $ | 316,805 |   |   | $ | 12,167 |   |
| Accounts receivables, net of reserve                                                                                                                 |   |   | 3,197,010 |   |   |   | - |   |   |   |   | 3,197,010 |   |   |   | 3,003,170 |   |
| Inventory                                                                                                                                            |   |   | 558,681 |   |   |   | - |   |   |   |   | 558,681 |   |   |   | 101,679 |   |
| Deferred financing costs                                                                                                                             |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 97,500 |   |
| Costs in excess of billings                                                                                                                          |   |   | 167,740 |   |   |   | - |   |   |   |   | 167,740 |   |   |   | 198,655 |   |
| Prepaid and other current assets                                                                                                                     |   |   | 142,798 |   |   |   | - |   |   |   |   | 142,798 |   |   |   | 234,645 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total current assets                                                                                                                                 |   |   | 4,383,034 |   |   |   | - |   |   |   |   | 4,383,034 |   |   |   | 3,647,816 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed assets, net of depreciation                                                                                                               |   |   | 1,761,173 |   |   |   | - |   |   |   |   | 1,761,173 |   |   |   | 183,926 |   |
| Intangible assets, net of amortization                                                                                                          |   |   | 1,558,348 |   |   |   | - |   |   |   |   | 1,558,348 |   |   |   | 845,332 |   |
| Goodwill                                                                                                                                             |   |   | 9,066,249 |   |   |   | 192,494 |   | (5)  |   |   | 8,873,755 |   |   |   | 5,904,782 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total assets                                                                                                                                    |   | $ | 16,768,804 |   |   | $ | 192,494 |   |   |   | $ | 16,576,310 |   |   | $ | 10,581,856 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Current liabilities                                                                                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts payable                                                                                                                                |   | $ | 2,019,477 |   |   | $ | - |   |   |   | $ | 2,019,477 |   |   | $ | 1,746,889 |   |
| Accrued liabilities                                                                                                                             |   |   | 372,437 |   |   |   | 643,924 |   | (4)  |   |   | 1,016,361 |   |   |   | 849,346 |   |
| Short term debt, net of unamortized discount of $2,578,129                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| and $845,095, respectively                                                                                                                           |   |   | 7,038,438 |   |   |   | (1,963,309 | ) | (2)  |   |   | 5,075,129 |   |   |   | 2,370,442 |   |
| Short term debt - related parties                                                                                                                    |   |   | 1,916,155 |   |   |   | - |   |   |   |   | 1,916,155 |   |   |   | 3,358,323 |   |
| Derivative liabilities                                                                                                                               |   |   | - |   |   |   | 5,153,339 |   | (1)  |   |   | 5,153,339 |   |   |   | 1,312,768 |   |
| Deferred income                                                                                                                                 |   |   | 503,576 |   |   |   | - |   |   |   |   | 503,576 |   |   |   | 403,792 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total current liabilities                                                                                                                            |   |   | 11,850,083 |   |   |   | 3,833,954 |   |   |   |   | 15,684,037 |   |   |   | 10,041,560 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Long term debt - related parties                                                                                                                     |   |   | 122,716 |   |   |   | - |   |   |   |   | 122,716 |   |   |   | 142,532 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total liabilities                                                                                                                               |   |   | 11,972,799 |   |   |   | 3,833,954 |   |   |   |   | 15,806,753 |   |   |   | 10,184,092 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders' equity                                                                                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Convertible preferred stock, $0.001 par value; 25,000,000 shares authorized; 1,500,000 and 4,951,000  issued and outstanding, respectively |   |   | 1,500 |   |   |   | - |   |   |   |   | 1,500 |   |   |   | 4,951 |   |
| Common stock, $0.001 par value; 150,000,000 shares authorized; 49,011,574 and  30,000,000 shares outstanding, respectively            |   |   | 48,540 |   |   |   | 472 |   | (6)  |   |   | 49,012 |   |   |   | 30,000 |   |
| Additional paid-in capital                                                                                                                      |   |   | 7,246,495 |   |   |   | (1,512,294 | ) | (3),(6)  |   |   | 5,734,201 |   |   |   | 2,904,602 |   |
| Accumulated deficit                                                                                                                             |   |   | (2,500,530 | ) |   |   | (2,514,626 | ) | (7)  |   |   | (5,015,156 | ) |   |   | (2,541,789 | ) |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total stockholders' equity                                                                                                                           |   |   | 4,796,005 |   |   |   | (4,026,448 | ) |   |   |   | 769,557 |   |   |   | 397,764 |   |
|                                                                                                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders' equity                                                                                                      |   | $ | 16,768,804 |   |   | $ | (192,494 | ) |   |   | $ | 16,576,310 |   |   | $ | 10,581,856 |   |

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| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                          |   |
|------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS                            |   |
| For the three months ended January 31, 2009 and 2008 (unaudited) |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   |   |   |   |   |   |   |   | 2009 |   |   |   |   |
|                                                             |   | 2009 |   |   | Adjustments |   |   |   | Restated |   |   | 2008 |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |
| REVENUES                                                         |   | $ | 5,338,688 |   |   | $ | - |   |   |   | $ | 5,338,688 |   |   | $ | 1,018,853 |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of revenues                                            |   |   | (3,249,600 | ) |   |   | - |   |   |   |   | (3,249,600 | ) |   |   | (676,320 | ) |
| Operating expenses                                          |   |   | (1,953,461 | ) |   |   | - |   |   |   |   | (1,953,461 | ) |   |   | (782,759 | ) |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING INCOME (LOSS)                                          |   |   | 135,627 |   |   |   | - |   |   |   |   | 135,627 |   |   |   | (440,226 | ) |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expense):                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (Gain)/loss on derivative liabilities                            |   |   | - |   |   |   | 247,976 |   | (1)  |   |   | 247,976 |   |   |   | - |   |
| Interest expense                                                 |   |   | (576,198 | ) |   |   | (191,092 | ) | (2)  |   |   | (767,290 | ) |   |   | (252,729 | ) |
| Interest income                                                  |   |   | 134 |   |   |   | - |   |   |   |   | 134 |   |   |   | - |   |
| Other income                                                     |   |   | 12,961 |   |   |   | - |   |   |   |   | 12,961 |   |   |   | - |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS)                                                |   | $ | (427,476 | ) |   | $ | 56,884 |   |   |   | $ | (370,592 | ) |   | $ | (692,955 | ) |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                              |   |   | 48,387,680 |   |   |   | 623,894 |   | (4)  |   |   | 49,011,574 |   |   |   | 30,000,000 |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted loss per share:                           |   | $ | (0.01 | ) |   | $ | 0.00 |   | (3)  |   | $ | (0.01 | ) |   | $ | (0.02 | ) |

----

| INOVA TECHNOLOGY, INC. AND SUBSIDIARIES                         |   |
|-----------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS                           |   |
| For the nine months ended January 31, 2009 and 2008 (unaudited) |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                            |   |   |   |   |   |   |   |   | 2009 |   |   |   |   |
|                                                            |   | 2009 |   |   | Adjustments |   |   |   | Restated |   |   | 2008 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues                                                   |   | $ | 18,012,044 |   |   | $ | - |   |   |   | $ | 18,012,044 |   |   | $ | 1,494,919 |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of revenues                                           |   |   | (12,246,387 | ) |   |   | - |   |   |   |   | (12,246,387 | ) |   |   | (886,838 | ) |
| Operating expenses                                         |   |   | (4,857,654 | ) |   |   | (76,762 | ) | (3)  |   |   | (4,934,416 | ) |   |   | (1,097,340 | ) |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING INCOME (LOSS)                                         |   |   | 908,003 |   |   |   | (76,762 | ) |   |   |   | 831,241 |   |   |   | (489,259 | ) |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expense):                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (Gain)/loss on derivative liabilities                           |   |   | - |   |   |   | (1,493,593 | ) | (1)  |   |   | (1,493,593 | ) |   |   | - |   |
| Interest expense                                                |   |   | (1,355,480 | ) |   |   | (470,143 | ) | (2)  |   |   | (1,825,623 | ) |   |   | (409,877 | ) |
| Interest income                                                 |   |   | 1,647 |   |   |   | - |   |   |   |   | 1,647 |   |   |   | - |   |
| Other income                                                    |   |   | 12,961 |   |   |   | - |   |   |   |   | 12,961 |   |   |   | - |   |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NET INCOME (LOSS)                                               |   | $ | (432,869 | ) |   | $ | (2,040,498 | ) |   |   | $ | (2,473,367 | ) |   | $ | (899,136 | ) |
|                                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted loss per share:                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                             |   |   | 48,142,320 |   |   |   | 740,172 |   | (5)  |   |   | 48,882,492 |   |   |   | 30,000,000 |   |
| Net Loss Per share                                         |   |   | (0.01 | ) |   |   | (0.04 | ) | (4)  |   | $ | (0.05 | ) |   | $ | (0.03 | ) |

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