----

----

| Nevada                                           | 98-0204280                           |
|--------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or | (I.R.S. Employer Identification No.) |
| organization)                                    |                                 |

| 89146         | (800) 757-9808              |
|---------------|-----------------------------|
| (Postal Code) | (Issuer's telephone number) |

| Large accelerated filer o | Accelerated Filer o | Non-accelerated Filer o | Smaller reporting Company x |
|---------------------------|---------------------|-------------------------|-----------------------------|

----

----

----

Tabl

|       | PART I                                                                             | Page   |
|------------|------------------------------------------------------------------------------------|--------|
| Item 1.    | Financial Statements                                                               | 3      |
|       |                                                                               |   |
| Item 2.    | Management Discussion and Analysis of Financial Condition and Result of Operations | 11     |
|       |                                                                               |   |
| Item 4.    | Submission of Matters to a Vote of Security Holders                                | 12     |
|       |                                                                               |   |
|       | PART II                                                                            |   |
|       |                                                                               |   |
| Item 1.    | Legal Proceedings                                                                  | 13     |
|       |                                                                               |   |
| Item 2     | Unregistered Sales of Equity Securities and Use of Proceeds                        | 13     |
|       |                                                                               |   |
| Item 3.    | Defaults Upon Senior Securities                                                    | 13     |
|       |                                                                               |   |
| Item 4.    | Other Information                                                                  | 13     |
|       |                                                                               |   |
| Item 5.    | Exhibits                                                                           | 13     |
|       |                                                                               |   |
| Signatures | 14                                                                                 |

----

Finan

| INOVA TECHNOLOGY, INC.                                               |   |
|----------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS                                          |   |
| (Unaudited)                                                          |   |
|                                                                 |   |   |   |   |   |   |
|                                                                 |   | July 31, 2012 |   |   | April 30, 2012 |   |
|                                                                 |   |   |   |   |   |   |
| ASSETS                                                               |   |
|                                                                 |   |   |   |   |   |   |
| Current assets                                                       |   |   |   |   |   |   |
| Cash                                                                 |   |   | 878,201 |   |   | $ | 752,011 |   |
|  Accounts receivable, net of allowance of $81,283 and $81,283   |   |   | 77,427 |   |   |   | 107,471 |   |
| Contract receivables, net of allowance of $21,746 and $21,746        |   |   | 739,860 |   |   |   | 1,126,221 |   |
| Credit facility receivable                                           |   |   | 891,512 |   |   |   | 1,477,930 |   |
| Inventory                                                            |   |   | 99,071 |   |   |   | 98,921 |   |
| Costs in excess of billing and estimated earnings                    |   |   | 153,091 |   |   |   | 201,602 |   |
| Prepaid and other current assets                                     |   |   | 1,113 |   |   |   | 52,484 |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Total current assets                                                 |   |   | 2,840,275 |   |   |   | 3,816,640 |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Fixed assets, net                                                    |   |   | 581,857 |   |   |   | 113,308 |   |
| Revenue earning equipment, net                                       |   |   |   |   |   |   | 586,896 |   |
| Goodwill, net                                                        |   |   | 4,157,596 |   |   |   | 4,157,596 |   |
| Intangibles                                                          |   |   | 73,892 |   |   |   | - |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Total assets                                                         |   | $ | 7,653,620 |   |   | $ | 8,674,440 |   |
|                                                                 |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Current liabilities                                                  |   |   |   |   |   |   |   |   |
| Accounts payable                                                     |   |   | 625,379 |   |   | $ | 1,739,006 |   |
| Accrued liabilities                                                  |   |   | 4,830,102 |   |   |   | 4,479,224 |   |
| Deferred income                                                      |   |   | 384,323 |   |   |   | 395,781 |   |
| Derivative liabilities                                               |   |   | 1,238,323 |   |   |   | 1,461,265 |   |
| Notes payable - related parties                                      |   |   | 1,689,688 |   |   |   | 1,689,688 |   |
| Notes payable                                                        |   |   | 9,924,227 |   |   |   | 9,904,192 |   |
| Total current liabilities                                            |   |   | 18,692,042 |   |   |   | 19,669,156 |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Notes payable - related parties, net of current maturities           |   |   | 142,532 |   |   |   | 142,532 |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Total liabilities                                                    |   |   | 18,834,574 |   |   |   | 19,811,688 |   |
|                                                                 |   |   |   |   |   |   |   |   |
| Stockholders' deficit                                                |   |   |   |   |   |   |   |   |
| Convertible preferred stock, $0.001 par value; 25,000,000 shares     |   |   |   |   |   |   |   |   |
| authorized; 1,500,000 shares issued and outstanding (the cost of the |   |   |   |   |   |   |   |   |
| shares are included in non-controlling interest)                     |   |   |   |   |   |   | - |   |
| Common stock, $0.001 par value; 500,000,000 shares                   |   |   |   |   |   |   |   |   |
| authorized; 88,688,715 and 76,364,065 shares issued and outstanding  |   |   | 88,679 |   |   |   | 76,364 |   |
| Additional paid-in capital                                           |   |   | 5,311,095 |   |   |   | 5,249,518 |   |
| Accumulated deficit                                                  |   |   | (17,888,234 | ) |   |   | (17,770,636 | ) |
| Total Inova Technology, Inc stockholders' deficit                    |   |   | (12,488,460 | ) |   |   | (12,444,754 | ) |
| Non-controlling interest                                             |   |   | 1,307,506 |   |   |   | 1,307,506 |   |
| Total stockholders' deficit                                          |   |   | (11,180,954 | ) |   |   | (11,137,248 | ) |
|                                                                 |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders' deficit                          |   | $ | 7,653,620 |   |   | $ | 8,674,440 |   |

----

| INOVA TECHNOLOGY, INC.                                                             |   |
|------------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF OPERATIONS                                              |   |
| For the quarter ended July 31, 2012 and 2011                                       |   |
| (Unaudited)                                                                        |   |
|                                                                               |   |   |   |   |   |   |
|                                                                               |   | 2012 |   |   | 2011 |   |
|                                                                               |   |   |   |   |   |   |
| Revenues                                                                           |   | $ | 6,476,909 |   |   | $ | 5,048,112 |   |
|                                                                               |   |   |   |   |   |   |   |   |
| Cost of revenues                                                                   |   |   | (4,933,480 | ) |   |   | (3,552,265 | ) |
| Selling, general and administrative                                                |   |   | (1,336,364 | ) |   |   | (1,575,910 | ) |
| Impairment loss                                                                    |   |   | - |   |   |   |   |   |
| Amortization                                                                       |   |   | - |   |   |   |   |   |
| Depreciation expense                                                               |   |   | (118,972 | ) |   |   | (18,555 | ) |
|                                                                               |   |   |   |   |   |   |   |   |
| Operating loss                                                                     |   |   | 88,093 |   |   |   | (98,618 | ) |
|                                                                               |   |   |   |   |   |   |   |   |
| Other income (expense):                                                            |   |   |   |   |   |   |   |   |
| Gain on derivative liabilities                                                     |   |   | 222,942 |   |   |   | 690,883 |   |
| Interest income                                                                    |   |   | - |   |   |   | 4,787 |   |
| Gain on debt extinguishment                                                        |   |   |   |   |   |   | 87,582 |   |
| Interest expense                                                                   |   |   | (428,633 | ) |   |   | (776,928 | ) |
|                                                                               |   |   |   |   |   |   |   |   |
| Net loss                                                                           |   | $ | (117,598 | ) |   | $ | (92,294 | ) |
|                                                                               |   |   |   |   |   |   |   |   |
| Basic and diluted loss per share                                                   |   | $ | (0.00 | ) |   | $ | (0.00 | ) |
|                                                                               |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding                                         |   |   | 77,446,726 |   |   |   | 61,633,872 |   |
|                                                                               |   |   |   |   |   |   |   |   |
| See summary of accounting policies and notes to consolidated financial statements. |   |

----

| INOVA TECHNOLOGY, INC.                                                            |   |
|-----------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOWS                                             |   |
| For the quarter ended July 31, 2012 and 2011                                      |   |
| (Unaudited)                                                                       |   |
|                                                                              |   |   |   |   |   |   |
|                                                                              |   | 2012 |   |   | 2011 |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                              |   |   |   |   |   |   |
| Net loss                                                                          |   | $ | (117,598 | ) |   | $ | (92,594 | ) |
| Adjustments to reconcile net loss to net cash used provided by                    |   |   |   |   |   |   |   |   |
| operating activities:                                                             |   |   |   |   |   |   |   |   |
| Depreciation expense, $0 and $344,995 included in cost of revenues                |   |   | 118,347 |   |   |   | 128,273 |   |
| Amortization expense - loan discounts and deferred financing costs                |   |   | - |   |   |   | 178,500 |   |
| Amortization expense - intangible                                                 |   |   | - |   |   |   | - |   |
| Paid in kind interest                                                             |   |   | 18,932 |   |   |   | 18,088 |   |
| Gain on sale of asset                                                             |   |   |   |   |   |   | - |   |
| Gain on debt extinguishment                                                       |   |   | - |   |   |   | (87,582 | ) |
| Impairment loss                                                                   |   |   | - |   |   |   |   |   |
| Stock issued for services                                                         |   |   |   |   |   |   |   |   |
| Warrants issued for services                                                      |   |   | - |   |   |   |   |   |
| Derivative gain                                                                   |   |   | (222,942 | ) |   |   | (690,883 | ) |
| Changes in operating assets and liabilities:                                      |   |   |   |   |   |   |   |   |
| Accounts receivable                                                               |   |   | 416,405 |   |   |   | 236,699 |   |
| Credit facility receivable                                                        |   |   | 586,418 |   |   |   | (63,335 | ) |
| Inventory                                                                         |   |   | (150 | ) |   |   | (6,840 | ) |
| Costs in excess of billing and estimated earnings                                 |   |   | 48,511 |   |   |   | 70,818 |   |
| Prepaid expenses and other current assets                                         |   |   | 3,897 |   |   |   | 3,514 |   |
| Other assets                                                                      |   |   | - |   |   |   | 2,640 |   |
| Accounts payable and accrued expenses                                             |   |   | (699,915 | ) |   |   | 294,567 |   |
| Deferred revenues                                                                 |   |   | (11,458 | ) |   |   | (48,966 | ) |
| Net cash provided by operating activities of operations                           |   |   | 140,447 |   |   |   | (57,101 | ) |
|                                                                              |   |   |   |   |   |   |   |   |
| CASH FLOW INVESTING ACTIVITIES                                                    |   |   |   |   |   |   |   |   |
|   Purchase of fixed assets                                              |   |   | - |   |   |   |   |   |
| Net cash used in investing activities                                             |   |   | - |   |   |   | - |   |
|                                                                              |   |   |   |   |   |   |   |   |
| CASH FLOW FINANCING ACTIVITIES                                                    |   |   |   |   |   |   |   |   |
| Proceeds from notes payable                                                       |   |   |   |   |   |   | 82,500 |   |
| Common stock issued for cash                                                      |   |   |   |   |   |   | 10,000 |   |
| Repayments made on notes payable                                                  |   |   | (14,257 | ) |   |   | (36,313 | ) |
| Common stock issued for investment                                                |   |   |   |   |   |   |   |   |
| Net cash used in financing activities                                             |   |   | (14,257 | ) |   |   | 56,187 |   |
|                                                                              |   |   |   |   |   |   |   |   |
| NET CHANGE IN CASH                                                                |   |   | 126,190 |   |   |   | (914 | ) |
| CASH AT BEGINNING OF YEAR                                                         |   |   | 752,011 |   |   |   | 396,140 |   |
| CASH AT END OF YEAR                                                               |   | $ | 878,201 |   |   | $ | 395,226 |   |
|                                                                              |   |   |   |   |   |   |   |   |
| SUPPLEMENTAL INFORMATION:                                                         |   |   |   |   |   |   |   |   |
| Interest paid                                                                     |   |   | 92,271 |   |   | $ | 42,383 |   |
| Income taxes paid                                                                 |   | $ | 21,904 |   |   | $ | 21,361 |   |
|                                                                              |   |   |   |   |   |   |   |   |
| NON-CASH INVESTINGAND FINANCING ACTIVITIES:                                       |   |   |   |   |   |   |   |   |
| Common stock issued for conversion of notes payable                               |   |   | - |   |   |   | 25,251 |   |
| Purchase of patent with stock                                                     |   |   | 73,892 |   |   |   | - |   |
| Reclassification of derivative liabilities from additional paid-in capital        |   |   | - |   |   |   |   |   |
| Reclassification of put notes from derivative liabilities                         |   |   | - |   |   |   |   |   |
| Accrued interest reclassified to related party notes payable                      |   |   |   |   |   |   | - |   |
| Common stock issued for settlement of accounts payable                            |   |   |   |   |   |   | - |   |
| Discount on notes payable from derivative liabilities                             |   |   |   |   |   |   | 178,500 |   |
|                                                                              |   |   |   |   |   |   |   |   |
| See summary of accounting policies and notes to consolidated financial statements |   |

----

----

----

| Derivative Liabilities                                |   |   |      |
|-------------------------------------------------------|--------|--------|-----------|
| Balance at April 30, 2012                             |   | $      | 1,461,265 |   |
| Extinguishment of derivative liabilities (see Note 8) |   |   |      |   |
| Addition of derivative liabilities (see Note 8)       |   |   |      |   |
| Change in fair value                                  |   |   | (222,942  | ) |
| Balance at July 31, 2011                              |   | $      | 1,238,323 |   |

|              |   | Trakkers, |      |   | Desert          |   |      |      |   |   |      |   |
|-------------------|--------|-----------|-----------|--------|-----------------|--------|-----------|-----------|--------|--------|-----------|--------|
|              |   | LLC & |      |   | Communications, |   |      |      |   |   |      |   |
|              |   | RightTag, |      |   | Inc.            |   |      | Corporate |   |   | Total     |   |
|              |   | Inc.      |      |   |            |   |      |      |   |   |      |   |
| Revenues          |   | $         | 299,011   |   |            |   | 6,177,898 |      |   |   | -         |   |   |   | 6,476,909 |   |
| Net income (loss) |   |      | (313,360  | )      |            |   | 276,071   |      |   |   | (80,309   | )      |   |   | (117,598 | ) |
| Total assets      |   |      | 1,512,731 |   |            |   | 2,750,335 |      |   |   | 3,390,554 |   |   |   | 7,653,320 |   |

----

|                              |   |     |      |           |   |            |   | Weighted     |   |
|-----------------------------------|--------|----------|-----------|----------------|--------|-----------------|--------|--------------|--------|
|                              |   |     |      |           |   |            |   | average      |   |
|                              |   |     |      | Weighted       |   |            |   | remaining    |   |
| Warrants to purchase Inova common |   |     |      | average        |   | Aggregate       |   | contractual  |   |
| stock                             |   | Warrants |      | exercise price |   | intrinsic value |   | life (years) |   |
| Outstanding at April 30, 2012     |   |     | 9,839,513 |           | $      | 0.03            |   |         | 77,441 |   |   | 1.57 |   |
| Granted                           |   |     | -         |           |   | -               |   |         |   |   |   |   |   |
| Exercised                         |   |     | -         |           |   | -               |   |         |   |   |   |   |   |
| Forfeited                         |   |     | -         |           |   | -               |   |         |   |   |   |   |   |
| Expired                           |   |     | 1,000,000 |           |   | -               |   |         |   |   |   |   |   |
| Outstanding at July 31, 2012      |   |     | 8,839,513 |           | $      | 0.01            |   | $            | 37,913 |   |   | 1.35 |   |

|                          |   |     |   |           |   |   |            |   | Weighted     |   |
|-------------------------------|--------|----------|--------|----------------|--------|--------|-----------------|--------|--------------|--------|
|                          |   |     |   |           |   |   |            |   | average      |   |
|                          |   |     |   | Weighted       |   |   |            |   | remaining    |   |
| Warrants to purchase Trakkers |   |     |   | average        |   |   | Aggregate       |   | contractual  |   |
| common stock                  |   | Warrants |   | exercise price |   |   | intrinsic value |   | life (years) |   |
| Outstanding at April 30, 2012 |   |     | 13.50  |           | $      | -      |            | $      |         |   |   | 2.18 |   |
| Granted                       |   |     | -      |           |   | -      |            |   |         |   |   |   |   |
| Exercised                     |   |     | -      |           |   | -      |            |   |         |   |   |   |   |
| Forfeited                     |   |     | -      |           |   | -      |            |   |         |   |   |   |   |
| Expired                       |   |     | -      |           |   | -      |            |   |         |   |   |   |   |
| Outstanding at July 31, 2012  |   |     | 13.50  |           | $      | -      |            | $      |         |   |   | 1.92 |   |

----

|                                |   | July 31, |       |   | April 30, |   |
|-------------------------------------|--------|----------|------------|--------|-----------|--------|
|                                |   | 2012     |       |   | 2012      |   |
|                                |   | Carrying |       |   | Carrying  |   |
| Lender                              |   | Amount   |       |   | Amount    |   |
|                                |   |     |       |   |      |   |
| Boone Lenders, LLC                  |   | $        | 6,902,108  |   |      | $      | 6,883,176 |   |
| Ascendiant Opportunity Fund, LLC    |   |     | 1,153,930  |   |      |   | 1,153,930 |   |
| Agile Opportunity Fund, LLC         |   |     | 173,500    |   |      |   | 173,500 |   |
| IBM - Trakkers, LLC                 |   |     |       |   |      |   |   |   |
|                                |   |     |       |   |      |   |   |   |
| Lease Facility                      |   |     | 71,584     |   |      |   | 70,183 |   |
| Desert Communications, Inc. Sellers |   |     | 1,389,107  |   |      |   | 1,389,107 |   |
| Trakkers, LLC Sellers               |   |     | 1,769,686  |   |      |   | 1,769,686 |   |
| Southbase, LLC - Related Party      |   |     | 142,532    |   |      |   | 142,532 |   |
|                                |   |     |       |   |      |   |   |   |
| Other                               |   |     | 154,000    |   |      |   | 154,298 |   |
| Total                               |   | $        | 11,756,447 |   |      | $      | 11,736,412 |   |

----

ana

----

| EBITDA                    |   | 31-July-12 |     |
|---------------------------|--------|------------|----------|
| Net income                |   |       | (117,598 | ) |
| Interest                  |   |       | 428,632  |   |
| Derivative gain           |   |       | (222,941 | ) |
| Tax                       |   |       | 21,904   |   |
| Depreciation/Amortization |   |       | 118,972  |   |
| EBITDA                    |   |       | 228,969  |   |

ontr

----

Leg

nre

Defa

Oth

xhib

| 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 Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes- Oxley Act of 2002 |
| 32.2    | Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes- Oxley Act of 2002 |

----

SIG

| Dated: October 11, 2012 | By:    | /s/ Adam Radly          |
|-------------------------|--------|-------------------------|
|                    |   | Adam Radly              |
|                    |   | Chief Executive Officer |
| Dated: October 11, 2012 | By:    | /s/ Bob Bates           |
|                    |   | Bob Bates               |
|                    |   | Chief Financial Officer |

----