----

----

| 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 |
|---------------------------|---------------------|-------------------------|-----------------------------|

----

----

----

|       | PART I                                                                             | Page   |
|------------|------------------------------------------------------------------------------------|--------|
| Item 1.    | Financial Statements                                                               | 3      |
|       |                                                                               |   |
| Item 2.    | Management Discussion and Analysis of Financial Condition and Result of Operations | 12     |
|       |                                                                               |   |
| Item 4.    | Controls and Procedures                                                            | 13     |
|       |                                                                               |   |
|       | PART II                                                                            |   |
|       |                                                                               |   |
| Item 1.    | Legal Proceedings                                                                  | 14     |
|       |                                                                               |   |
| Item 2.    | Unregistered Sales of Equity Securities and Use of Proceeds                        | 14     |
|       |                                                                               |   |
| Item 3.    | Defaults Upon Senior Securities                                                    | 14     |
|       |                                                                               |   |
| Item 4.    | Other Information                                                                  | 14     |
|       |                                                                               |   |
| Item 5.    | Exhibits                                                                           | 14     |
|       |                                                                               |   |
| Signatures | 15                                                                                 |

----

|                                                                                                                                                                                   |   | October 31, 2012 |        |   | April 30, 2012 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|-------------|--------|----------------|--------|
|                                                                                                                                                                                   |   |             |        |   |           |   |
| ASSETS                                                                                                                                                                                 |   |             |        |   |           |   |
|                                                                                                                                                                                   |   |             |        |   |           |   |
| Current assets                                                                                                                                                                         |   |             |        |   |           |   |
| Cash                                                                                                                                                                                   |   |             | 1,156,430   |   |           | $      | 752,011 |   |
| Accounts receivable, net of allowance of $81,283 and $81,283                                                                                                                           |   |             | 51,959      |   |           |   | 107,471 |   |
| Contract receivables, net of allowance of $21,746 and $21,746                                                                                                                          |   |             | 629,191     |   |           |   | 1,126,221 |   |
| Credit facility receivable                                                                                                                                                             |   |             | 564,126     |   |           |   | 1,477,930 |   |
| Inventory                                                                                                                                                                              |   |             | 129,129     |   |           |   | 98,921 |   |
| Costs in excess of billing and estimated earnings                                                                                                                                      |   |             | 200,202     |   |           |   | 201,602 |   |
| Prepaid and other current assets                                                                                                                                                       |   |             | 43,904      |   |           |   | 52,484 |   |
|                                                                                                                                                                                   |   |             |        |   |           |   |   |   |
| Total current assets                                                                                                                                                                   |   |             | 2,774,941   |   |           |   | 3,816,640 |   |
|                                                                                                                                                                                   |   |             |        |   |           |   |   |   |
| Fixed assets, net                                                                                                                                                                      |   |             | 96,003      |   |           |   | 113,308 |   |
| Revenue earning equipment, net                                                                                                                                                         |   |             | 367,433     |   |           |   | 586,896 |   |
| Goodwill, net                                                                                                                                                                          |   |             | 4,157,596   |   |           |   | 4,157,596 |   |
| Intangibles                                                                                                                                                                            |   |             | 73,892      |   |           |   | - |   |
|                                                                                                                                                                                   |   |             |        |   |           |   |   |   |
| Total assets                                                                                                                                                                           |   | $                | 7,469,865   |   |           | $      | 8,674,440 |   |
|                                                                                                                                                                                   |   |             |        |   |           |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                                                                                                                  |   |             |        |   |           |   |   |   |
|                                                                                                                                                                                   |   |             |        |   |           |   |   |   |
| Current liabilities                                                                                                                                                                    |   |             |        |   |           |   |   |   |
| Accounts payable                                                                                                                                                                       |   |             | 264,835     |   |           | $      | 1,739,006 |   |
| Accrued liabilities                                                                                                                                                                    |   |             | 4,891,324   |   |           |   | 4,479,224 |   |
| Deferred income                                                                                                                                                                        |   |             | 382,179     |   |           |   | 395,781 |   |
| Derivative liabilities                                                                                                                                                                 |   |             | 1,118,446   |   |           |   | 1,461,265 |   |
| Notes payable - related parties                                                                                                                                                        |   |             | 1,689,688   |   |           |   | 1,689,688 |   |
| Notes payable                                                                                                                                                                          |   |             | 10,121,277  |   |           |   | 9,904,192 |   |
| Total current liabilities                                                                                                                                                              |   |             | 18,467,749  |   |           |   | 19,669,156 |   |
|                                                                                                                                                                                   |   |             |        |   |           |   |   |   |
| Notes payable - related parties, net of current maturities                                                                                                                             |   |             | 114,219     |   |           |   | 142,532 |   |
|                                                                                                                                                                                   |   |             |        |   |           |   |   |   |
| Total liabilities                                                                                                                                                                      |   |             | 18,581,968  |   |           |   | 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; 92,626,703 and 76,364,065 shares issued and outstanding                                                                 |   |             | 92,626      |   |           |   | 76,364 |   |
| Additional paid-in capital                                                                                                                                                             |   |             | 5,347,212   |   |           |   | 5,249,518 |   |
| Accumulated deficit                                                                                                                                                                    |   |             | (17,859,447 | )      |           |   | (17,770,636 | ) |
| Total Inova Technology, Inc stockholders' deficit                                                                                                                                      |   |             | (12,419,609 | )      |           |   | (12,444,754 | ) |
| Non-controlling interest                                                                                                                                                               |   |             | 1,307,506   |   |           |   | 1,307,506 |   |
| Total stockholders' deficit                                                                                                                                                            |   |             | (11,112,103 | )      |           |   | (11,137,248 | ) |
|                                                                                                                                                                                   |   |             |        |   |           |   |   |   |
| Total liabilities and stockholders' deficit                                                                                                                                            |   | $                | 7,469,865   |   |           | $      | 8,674,440 |   |

----

|                                               |   | 2012   |       |   | 2011   |   |
|----------------------------------------------------|--------|--------|------------|--------|--------|--------|
|                                               |   |   |       |   |   |   |
| Revenues                                           |   | $      | 5,613,455  |   |   | $      | 5,658,150 |   |
|                                               |   |   |       |   |   |   |   |   |
| Cost of revenues                                   |   |   | (4,022,696 | )      |   |   | (4,301,072 | ) |
| Selling, general and administrative                |   |   | (1,368,126 | )      |   |   | (1,083,783 | ) |
| Depreciation expense                               |   |   | (8,378     | )      |   |   | (26,211 | ) |
|                                               |   |   |       |   |   |   |   |   |
| Operating loss                                     |   |   | 214,255    |   |   |   | 247,084 |   |
|                                               |   |   |       |   |   |   |   |   |
| Other income (expense):                            |   |   |       |   |   |   |   |   |
| Gain on derivative liabilities                     |   |   | 94,813     |   |   |   | 824,336 |   |
| Other income                                       |   |   | -          |   |   |   | 6,210 |   |
| Interest expense                                   |   |   | (280,281   | )      |   |   | (814,401 | ) |
|                                               |   |   |       |   |   |   |   |   |
| Net income                                         |   | $      | 28,787     |   |   | $      | 263,229 |   |
|                                               |   |   |       |   |   |   |   |   |
| Basic and diluted loss per share                   |   | $      | 0.00       |   |   | $      | 0.00 |   |
|                                               |   |   |       |   |   |   |   |   |
| Weighted average common shares outstanding-basic   |   |   | 90,553,955 |   |   |   | 62,942,954 |   |
|                                               |   |   |       |   |   |   |   |   |
| Weighted average common shares outstanding-diluted |   |   | 98,138,677 |   |   |   | 314,902,950 |   |

----

|                                               |   | 2012   |       |   | 2011   |   |
|----------------------------------------------------|--------|--------|------------|--------|--------|--------|
|                                               |   |   |       |   |   |   |
| Revenues                                           |   | $      | 12,090,364 |   |   | $      | 10,706,262 |   |
|                                               |   |   |       |   |   |   |   |   |
| Cost of revenues                                   |   |   | (9,065,594 | )      |   |   | (7,853,337 | ) |
| Selling, general and administrative                |   |   | (2,704,490 | )      |   |   | (2,659,693 | ) |
| Depreciation expense                               |   |   | (17,932    | )      |   |   | (45,066 | ) |
|                                               |   |   |       |   |   |   |   |   |
| Operating loss                                     |   |   | 302,348    |   |   |   | 148,166 |   |
|                                               |   |   |       |   |   |   |   |   |
| Other income (expense):                            |   |   |       |   |   |   |   |   |
| Gain (Loss) on derivative liabilities              |   |   | 317,755    |   |   |   | 1,515,219 |   |
| Other income                                       |   |   | -          |   |   |   | 10,997 |   |
| Gain (Loss) on debt extinguishment                 |   |   | -          |   |   |   | 87,582 |   |
| Interest expense                                   |   |   | (708,914   | )      |   |   | (1,591,329 | ) |
|                                               |   |   |       |   |   |   |   |   |
| Net income (loss)                                  |   | $      | (88,811    | )      |   | $      | 170,635 |   |
|                                               |   |   |       |   |   |   |   |   |
| Basic and diluted income (loss) per share          |   | $      | (0.00      | )      |   | $      | 0.00 |   |
|                                               |   |   |       |   |   |   |   |   |
| Weighted average common shares outstanding-basic   |   |   | 84,030,624 |   |   |   | 62,288,279 |   |
| Weighted average common shares outstanding-diluted |   |   | 84,030,624 |   |   |   | 87,355,292 |   |

----

|                                                                                 |   | 2012   |       |   | 2011   |   |
|--------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
| CASH FLOWS FROM OPERATING ACTIVITIES                                                 |   |   |       |   |   |   |
| Net loss                                                                             |   | $      | (88,811    | )      |   | $      | 170,635 |   |
| Adjustments to reconcile net loss to net cash used provided by operating activities: |   |   |       |   |   |   |   |   |
| Depreciation expense, $218,836 and $344,995 included in cost of revenues             |   |   | 236,768    |   |   |   | 263,902 |   |
| Amortization expense - loan discounts and deferred financing costs                   |   |   | -          |   |   |   | 282,000 |   |
| Paid in kind interest                                                                |   |   | 18,932     |   |   |   | 33,197 |   |
| Gain on debt extinguishment                                                          |   |   | -          |   |   |   | (87,582 | ) |
| Stock issued for services                                                            |   |   | -          |   |   |   | 48,000 |   |
| Legal expenses paid directly by third party debtholder                               |   |   | 222,751    |   |   |   | - |   |
| Derivative gain                                                                      |   |   | (317,755   | )      |   |   | (1,515,219 | ) |
| Changes in operating assets and liabilities:                                         |   |   |       |   |   |   |   |   |
| Accounts receivable                                                                  |   |   | 552,542    |   |   |   | 524,807 |   |
| Credit facility receivable                                                           |   |   | 913,804    |   |   |   | (300,708 | ) |
| Inventory                                                                            |   |   | (30,208    | )      |   |   | (6,468 | ) |
| Costs in excess of billing and estimated earnings                                    |   |   | 1,400      |   |   |   | 9,627 |   |
| Prepaid expenses and other current assets                                            |   |   | 8,580      |   |   |   | 21,948 |   |
| Other assets                                                                         |   |   | -          |   |   |   | 6,121 |   |
| Accounts payable and accrued expenses                                                |   |   | (1,046,710 | )      |   |   | 686,184 |   |
| Deferred revenues                                                                    |   |   | (13,602    | )      |   |   | 98,258 |   |
| Net cash provided by operating activities of operations                              |   |   | 457,691    |   |   |   | 234,702 |   |
|                                                                                 |   |   |       |   |   |   |   |   |
| CASH FLOW INVESTING ACTIVITIES                                                       |   |   |       |   |   |   |   |   |
|                                                                                 |   |   | -          |   |   |   | - |   |
| 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                                                     |   |   | (53,272    | )      |   |   | (67,661 | ) |
| Net cash used in financing activities                                                |   |   | (53,272    | )      |   |   | 24,839 |   |
|                                                                                 |   |   |       |   |   |   |   |   |
| NET CHANGE IN CASH                                                                   |   |   | 404,419    |   |   |   | 259,541 |   |
| CASH AT BEGINNING OF YEAR                                                            |   |   | 752,011    |   |   |   | 396,140 |   |
| CASH AT END OF YEAR                                                                  |   | $      | 1,156,430  |   |   | $      | 655,681 |   |
|                                                                                 |   |   |       |   |   |   |   |   |
| SUPPLEMENTAL INFORMATION:                                                            |   |   |       |   |   |   |   |   |
| Interest paid                                                                        |   | $      | 116,441    |   |   | $      | 129,197 |   |
| Income taxes paid                                                                    |   | $      | 21,904     |   |   | $      | 30,000 |   |
|                                                                                 |   |   |       |   |   |   |   |   |
| NON-CASH INVESTINGAND FINANCING ACTIVITIES:                                          |   |   |       |   |   |   |   |   |
| Common stock issued for conversion of notes payable                                  |   |   | 15,000     |   |   |   | 33,251 |   |
| Purchase of patent with stock                                                        |   |   | 73,892     |   |   |   | - |   |
| Settlement of derivative liabilities due to conversion of related notes payable      |   |   | 25,064     |   |   |   |   |   |
| Discount on notes payable from derivative liabilities                                |   |   | -          |   |   |   | 282,000 |   |

----

----

----

| Derivative Liabilities                                                          |   |   |      |
|---------------------------------------------------------------------------------|--------|--------|-----------|
| Balance at April 30, 2012                                                       |   | $      | 1,461,265 |   |
| Settlement of derivative liabilities due to conversion of related notes payable |   |   | (25,064   | ) |
| Change in fair value                                                            |   |   | (317,755  | ) |
| Balance at October 31, 2012                                                     |   | $      | 1,118,446 |   |

|              |   | Trakkers, |      |   |            |   |      |      |   |   |      |   |
|-------------------|--------|-----------|-----------|--------|-----------------|--------|-----------|-----------|--------|--------|-----------|--------|
|              |   | LLC & |      |   | Desert          |   |      |      |   |   |      |   |
|              |   | RightTag, |      |   | Communications, |   |      |      |   |   |      |   |
|              |   | Inc.      |      |   |  Inc.      |   |      | Corporate |   |   | Total     |   |
| Revenues          |   | $         | 353,485   |   |            |   | 5,259,970 |      |   |   | 0         |   |   |   | 5,613,455 |   |
| Net income (loss) |   |      | (214,634) |   |            |   | 326,801   |      |   |   | (83,380)  |   |   |   | 28,787 |   |
| Total assets      |   |      | 1,438,147 |   |            |   | 2,635,161 |      |   |   | 3,396,557 |   |   |   | 7,469,865 |   |

----

|                              |     |   |      |   |      |   | Weighted     |   |
|-----------------------------------|----------|--------|-----------|--------|-----------|--------|--------------|--------|
|                              |     |   | Weighted  |   |      |   | average      |   |
|                              |     |   | average   |   | Aggregate |   | remaining    |   |
| Warrants to purchase Inova common |     |   | exercise  |   | intrinsic |   | contractual  |   |
| stock                             | Warrants |   | price     |   | 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 October 31, 2012   |     |   | 8,839,513 |   |      | $      | 0.01         |   |   | $ | 55,369 |   |   |   | 1.17 |   |

|                            |     |   |     |   |      |   | Weighted     |   |
|---------------------------------|----------|--------|----------|--------|-----------|--------|--------------|--------|
|                            |     |   | Weighted |   |      |   | average      |   |
|                            |     |   | average  |   | Aggregate |   | remaining    |   |
| Warrants to purchase Trakkers   |     |   | exercise |   | intrinsic |   | contractual  |   |
| common stock                    | Warrants |   | price    |   | value     |   | life (years) |   |
| Outstanding at April 30, 2012   |     |   | 13.50    |   |      | $      | -            |   |   | $ |   |   |   |   | 2.18 |   |
| Granted                         |     |   | -        |   |      |   | -            |   |   |   |   |   |   |   |   |   |
| Exercised                       |     |   | -        |   |      |   | -            |   |   |   |   |   |   |   |   |   |
| Forfeited                       |     |   | -        |   |      |   | -            |   |   |   |   |   |   |   |   |   |
| Expired                         |     |   | -        |   |      |   | -            |   |   |   |   |   |   |   |   |   |
| Outstanding at October 31, 2012 |     |   | 13.50    |   |      | $      | -            |   |   | $ |   |   |   |   | 1.67 |   |

----

|                                |   | October 31, |       |   | April 30, |   |
|-------------------------------------|--------|-------------|------------|--------|-----------|--------|
|                                |   | 2012        |       |   | 2012      |   |
|                                |   | Carrying    |       |   | Carrying  |   |
| Lender                              |   | Amount      |       |   | Amount    |   |
|                                |   |        |       |   |      |   |
| Boone Lenders, LLC                  |   | $           | 7,124,859  |   |      | $      | 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                      |   |        | 60,584     |   |      |   | 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      |   |        | 114,220    |   |      |   | 142,532 |   |
|                                |   |        |       |   |      |   |   |   |
| Other                               |   |        | 139,298    |   |      |   | 154,298 |   |
| Total                               |   | $           | 11,925,184 |   |      | $      | 11,736,412 |   |

----

----

| EBITDA                    |   | 31-October-12 |     |
|---------------------------|--------|---------------|----------|
| Net income (loss)         |   |          | (88,811  | )  |
| Interest                  |   |          | 708,914  |   |
| Derivative gain           |   |          | (317,755 | ) |
| Tax                       |   |          | 36,939   |   |
| Depreciation/Amortization |   |          | 236,768  |   |
| EBITDA                    |   |          | 576,055  |   |

----

| 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 |

----

SIGNATURES

| Dated: December 17, 2012 | By:    | /s/ Adam Radly          |   |
|--------------------------|--------|-------------------------|--------|
|                     |   | Adam Radly              |
|                     |   | Chief Executive Officer |
|                     |   |                    |
| Dated: December 17, 2012 | By:    | /s/ Bob Bates           |   |
|                     |   | Bob Bates               |
|                     |   | Chief Financial Officer |

----