UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

FORM 10-Q

[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period ended March 31, 2013 (Third Quarter)

or

[    ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________________  to  ___________________________

Commission File Number:  000-53493

Global MobileTech, Inc.

 (Exact name of registrant as specified in charter)

Nevada	26-1550187
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1312 North Monroe, Suite 750

Spokane, Washington 99201

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (509) 723-1312

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes [X]   No [   ]

Indicate by check whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).                           Yes [X]   No [   ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer [  ]	Accelerated filer [  ]
Non-accelerated filer [  ] (Do not check if a smaller reporting company)	Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes [   ]   No [X]

As of May 14, 2013, there were 8,661,991 shares of our common stock, $0.001 par value, issued and outstanding.

TABLE OF CONTENTS
ITEM NUMBER AND CAPTION		PAGE
PART I	FINANCIAL INFORMATION	3
ITEM 1.	Financial Statements	3
ITEM 2.	Management’s Discussion and Analysis of Financial Condition And Results of Operations	27
ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	35
ITEM 4.	Controls and Procedures	35
PART II	OTHER INFORMATION	35
ITEM 1.	Legal Proceedings	35
ITEM 1A.	Risk Factors	35
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	36
ITEM 3.	Defaults Upon Senior Securities	36
ITEM 4.	Mine Safety Disclosures	36
ITEM 5.	Other Information	36
ITEM 6.	Exhibits	36
SIGNATURES		37

USE OF PRONOUNS AND OTHER WORDS

The pronouns “we”, “us”, “our” and the equivalent mean Global MobileTech, Inc. and our consolidated subsidiaries.  In the notes to our financial statements, the “Company” means Global MobileTech, Inc. and our consolidated subsidiaries.  The pronoun “you” means the reader of this quarterly report on Form 10-Q.

FORWARD-LOOKING STATEMENTS

This quarterly report on Form 10–Q and the information incorporated by reference, if any, includes “forward–looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. We intend the forward–looking statements to be covered by the safe harbor provisions for forward–looking statements in these sections.

From time to time, our representatives or we have made or may make forward-looking statements, orally or in writing.  Such forward-looking statements may be included in, but not limited to, press releases, oral statements made with the approval of an authorized executive officer or in various filings made by us with the U.S. Securities and Exchange Commission (“SEC”). We may, in some cases, use words such as “project”, “believe”, “anticipate”, “plan”, “expect”, “estimate”, “continue”, “intend”, “should”, “would”, “could”, “may”, “will”, “in the event”, "will likely result" and other similar words, use of future tense and absence of assurance that convey uncertainty regarding future events or outcomes and to identify these forward-looking statements. Such statements are qualified in their entirety by reference to and should be considered in the context of certain important factors that could cause actual results to differ materially from such forward-looking statements.  Accordingly, forward-looking statements should not be relied upon as a prediction of actual results.

Management is currently unaware of any trends or conditions other than those mentioned in this management's discussion and analysis that could have a material adverse effect on our financial position, future results of operations, or liquidity.  However, you should also be aware of factors that could have a negative impact on our prospects and the consistency of progress in the areas of revenue generation, liquidity, and generation of capital resources.  These include: (i) variations in revenue, (ii) possible inability to attract investors for our equity securities or otherwise raise adequate funds from any source should we seek to do so, (iii) increased governmental regulation, (iv) increased competition, (v) unfavorable outcomes to litigation involving us or to which we may become a party in the future and, (vi) a very competitive and rapidly changing operating environment.

The above-identified risks are not all inclusive. New risk factors emerge from time to time and it is not possible for our management to predict all of such risk factors, nor can it assess the impact of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements.

The financial information set forth in the following discussion should be read in conjunction with our consolidated financial statements included elsewhere herein.

2

PART I – FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

March 31, 2013 and 2012

Index to Consolidated Financial Statements

(Unaudited)

CONTENTS	Page
Consolidated Balance Sheets at March 31, 2013 (unaudited) and June 30, 2012 (audited)	4
Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three and Nine Months Ended March 31, 2013 and 2012	5
Consolidated Statements of Cash Flows for the Nine Months Ended March 31, 2013 and 2012	6
Notes to the Consolidated Financial Statements	7
[Remainder of page left blank.]

3

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AT MARCH 31, 2013 AND JUNE 30, 2012
ASSETS
			March 31,	June 30,
			2013	2012
ASSETS
Current Assets:
	Cash and cash equivalents		$ 16,213	$ 18,655
	Accounts receivable, net		4,554,218	1,369,514
	Deposit		3,779	1,948
	Other debtors		1,011	1,751
		Total Current Assets	4,575,221	1,391,868
Property, Plant and Equipment:
	Property, plant and equipment, at cost		4,387,046	4,223,140
	(Less): Accumulated depreciation and amortization		1,536,299	843,725
		Property, Plant and Equipment, net	2,850,747	3,379,415
Other Assets:
	Patent (net of accumulated amortization of $674,749 ; $398,205)		2,809,248	2,957,338
	Patent & Technology License Agreement (net of accumulated
	amortization of $122,500 ; $43,750)		927,500	1,006,250
	Methodology & Technology Assignment (net of accumulated
	amortization of $26,492 ; $18,108)		24,784	31,277
		Total Other Assets	3,761,532	3,994,865
Total Assets			$ 11,187,500	$ 8,766,148
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Current Liabilities:
	Accounts payable		$ 1,692,352	$ 607,372
	Accrued liabilities		278,554	939,139
	Federal and other taxes on income		120,038	3,311
	Due to related party		66,641	59,774
		Total Current Liabilities	2,157,585	1,609,596
Non-Current Liabilities:
	Non-current deferred income taxes		1,295,984	1,248,201
		Total Non-Current Liabilities	1,295,984	1,248,201
Total Liabilities			3,453,569	2,857,797
Commitments and Contingencies			-	-
STOCKHOLDERS' EQUITY
	Preferred stock,  par value $0.001 per share; 10,000,000 shares
		authorized; no shares issued or outstanding on March 31,
		2013 and June 30, 2012, respectively	-	-
	Common stock, par value $0.001 per share; 100,000,000
		shares authorized; 8,661,991 and 7,216,991 shares issued and
		outstanding on March 31, 2013 and June 30, 2012, respectively	8,662	7,217
	Additional paid-in capital		3,865,081	3,653,676
	Accumulated other comprehensive income (loss)		104,571	(153,690)
	Accumulated income		3,755,617	2,401,148
		Total Stockholders' Equity	7,733,931	5,908,351
Total Liabilities and Stockholders' Equity			$ 11,187,500	$ 8,766,148
The accompanying notes to financial statements are
an integral part of these statements.

4

GLOBAL  MOBILETECH, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS)
FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2013 AND 2012
			For the Three	For the Three	For the Nine	For the Nine
			Months ended	Months ended	Months ended	Months ended
			March 31,	March 31,	March 31,	March 31,
			2013	2012	2013	2012
			(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Revenues			$ 4,459,885	$ 4,004,422	$ 13,242,874	$ 11,315,275
Cost of Goods Sold			(3,016,059)	(2,758,364)	(9,062,541)	(7,920,953)
Gross Profit			1,443,826	1,246,058	4,180,333	3,394,322
Expenses:
	Professional fees		19,018	12,646	53,074	60,538
	Depreciation and amortization		336,851	249,697	1,008,440	718,538
	Sales and marketing		195,655	195,763	585,709	390,676
	General and administrative - Other		277,306	157,557	1,061,989	759,731
		Total operating expenses	828,830	615,663	2,709,212	1,929,483
Income from Operations			614,996	630,395	1,471,121	1,464,839
Other Income (Expense):
	Gain (Loss) on currency translation		(1,031)	-	1	-
		Total other income (expense)	(1,031)	-	1	-
Income Before Income Taxes			613,965	630,395	1,471,122	1,464,839
Provision for income taxes:
	Current		(54,919)	(49,071)	(116,653)	(126,247)
Net Income			$ 559,046	$ 581,324	$ 1,354,469	$ 1,338,592
Comprehensive Income (Loss) :
	Foreign currency translation adjustment		(107,668)	191,172	258,261	(24,757)
Total Comprehensive Income			$ 451,378	$ 772,496	$ 1,612,730	$ 1,313,835
Earnings Per Common Share:
	Basic		$ 0.07	$ 0.10	$ 0.18	$ 0.27
	Diluted		$ 0.07	$ 0.10	$ 0.17	$ 0.26
Weighted Average Number of Common Shares Outstanding:
	Basic		7,532,411	5,584,464	7,489,163	4,871,277
	Diluted		7,896,376	5,899,847	7,941,431	5,167,244
The accompanying notes to consolidated financial statements are
an integral part of these statements.

5

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED MARCH 31, 2013 AND 2012
			For the Nine Months Ended
			March 31,
			2013	2012
			(Unaudited)	(Unaudited)
Operating Activities:
	Net income		$ 1,354,469	$ 1,338,592
	Adjustments to reconcile net income to net cash
	provided by (used in) operating activities:
	Income taxes		116,653	126,247
	Depreciation and amortization		1,008,440	718,538
	Common stock issued for services		72,000	(86,408)
	Changes in assets and liabilities-
		Deposit and other debtors	(949)	(23,040)
		Accounts receivable - Trade	(3,132,277)	(207,741)
		Accounts payable - Trade	1,063,450	(2,262,052)
		Accrued liabilities	(567,303)	81,906
Net Cash Used by Operating Activities			(85,517)	(313,958)
Investing Activities:
	Purchases of property, plant and equipment		(2,239)	-
Net Cash Used in Investing Activities			(2,239)	-
Financing Activities:
	Proceeds from loan from related party		17,472	39,339
	Proceeds from the issuance of common stock		-	53,435
Net Cash Provided by Financing Activities			17,472	92,774
Effect of Exchange Rate Changes			67,842	221,624
Net Increase (Decrease) in Cash			(2,442)	440
Cash - Beginning of Period			18,655	17,681
Cash - End of Period			$ 16,213	$ 18,121
Supplemental Disclosure of Cash Flow Information:
		Interest paid	$ -	$ -
		Income taxes paid	$ -	$ -
Non-Cash Transactions Affecting Operating, Investing and Financing Activities :
		Issuance of stock for payment of debts	$ 140,850	$ -
The accompanying notes to financial statements are
an integral part of these statements.

6

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

General Organization and Business

Global MobileTech, Inc.  (the “Company”) is focused on the provision of mobile Voice over Internet Protocol (“VoIP”) communications and mobile advertising solutions and services since April 2010. The Company provides a proprietary mobile marketing platform that enables the Company’s customers to sell advertisement banners on the mobile phones of persons who have registered with them. The Company also provides its customers with access to mobile advertising content via the Company’s proprietary platform, as well as multimedia content production services which the Company’s customers utilize to sell services to advertisers and advertising agencies and to disseminate to registered mobile phone users via the rewards program. In July 2010, the Company expanded into the renewable energy business to include (i) the provision of consultancy services for the design and integration of solar photovoltaic (“PV”)-wind hybrid power generation applications (ii) the production of synthetic gas (“syngas”), bio-oil and biochar using biomass such as wood residues, and oil palm stems and fronds as feedstock; and (iii) the establishment and operation of syngas-to-electricity generation plants.

In June 2011 the Company acquired U.S. patent # 8,005,057 and in December 2011, the Company acquired a new Technology License Agreement to drive the Company’s mobile platform by combining the methodologies of the Company’s patent and the Technology License Agreement. The Company’s platform provides the essential business logic, platform intelligence and central management that drives the platform and enables the application of flexible business models. The Company has achieved its objective by integrating the Company’s platform with internal and external enablers that are embedded in the Company’s platform. The Company’s platform enables the conversion of media (text, voice, video and graphics) into value-added solutions in different protocols and formats that are seamlessly integrated for transmission to mobile phones.

Formation of Joint Venture Company, MaxCents Sdn Bhd

On June 14, 2012, Info-Accent invested RM1,500 or US$500 in a newly formed joint venture Malaysian company, MaxCents Sdn Bhd (“MaxCents”) to operate an integrated ad-funded social network and mobile/online shopping portal.  The investment represented 30% equity interest in MaxCents with 40% held by First Asset Holdings Limited and the remaining 30% held by Ridzuan Mohd Jusoh. Pursuant to the Joint Venture Agreement dated May 21, 2012, the respective shareholders shall contribute to the share capital and initial working capital of MaxCents in proportion to their shareholding.  The formation of MaxCents was not subject to ASC 805-10-50-2 because it was not a business combination.

The Company has assessed whether its involvement with another legal entity required consolidation and/or disclosure of such involvement under the Variable Interest Entity (“VIE”) subsections of subtopic in ASC 810-10 – Consolidations – Overall. Info-Accent: (i) does not have substantial voting rights where its equity investment does not participate significantly in MaxCents’ earnings and losses, (ii) does not have the controlling financial interest where Info-Accent does not have the power to direct the activities that most significantly impact the economic performance of the joint venture, (iii) does not provide financial support to MaxCents; and (iv) is not the primary beneficiary of MaxCents. Based on the foregoing, the joint venture does not meet the criteria or characteristics of a VIE based on the guidance contained in ASC 810-10-15-14.

ASC 810-10-10-1 states that consolidated financial statements are necessary for a fair presentation if one of the entities in the consolidated group directly or indirectly has a controlling financial interest in the joint venture. Info-Accent has neither any special arrangement nor contractual management relationship through its 30% equity and voting interest in the joint venture. The Company does not have majority voting interest or controlling financial interest in MaxCents.  

7

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Formation of Joint Venture Company, MaxCents Sdn Bhd (Continued)

Given that the Company does not have control and influence in MaxCents, the Company has used the equity method to account for its investment in MaxCents in accordance with the guidance contained in ASC 323 – “Investments – Equity Method and Joint Ventures”. Based on the equity method, on initial recognition the investment in an associate or a joint venture is recognized at cost, and the carrying amount is increased or decreased to recognize the investor’s share of the earnings or losses of the investee after the date of acquisition. Further, ASC 323-10-05-4 states the equity method of accounting more closely meets the objectives of accrual accounting because the investor recognizes its share of the earnings and losses of the investee in the periods in which they are reflected in the accounts of the investee. The equity method also best enables investors in joint ventures to reflect the underlying nature of their investment in those ventures. According to ASC 323-10-05-5, the investor has a degree of responsibility for the return on its investment, and it is appropriate to include in the results of operations of the investor share of earnings or losses of the investee. Info-Accent accounted for 30% of the earnings or losses in MaxCents in proportion to its equity and voting interest of 30% in MaxCents.

Unaudited Interim Financial Statements

The interim consolidated financial statements of the Company as of March 31, 2013 and March 31, 2012 and for the three months and nine months ended March 31, 2013 and 2012 are unaudited. In the opinion of management, the interim consolidated financial statements include all adjustments (consisting solely of normal recurring adjustments) which are necessary for a fair statement of the Company’s financial position at March 31, 2013 and June 30, 2012 and the results of its operations and its cash flows for the nine months ended March 31, 2013 and 2012. These results are not necessarily indicative of the results expected for the fiscal year ending June 30, 2013. The accompanying financial statements and notes thereto do not reflect all disclosures required under accounting principles generally accepted in the United States of America (“U.S.GAAP”). Refer to the Company’s audited financial statements as of June 30, 2012, filed with the SEC for additional information, including significant accounting policies.

Basis of presentation

The financial information included herein is unaudited and has been prepared consistent with U.S. GAAP for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, these consolidated financial statements do not include all information and footnotes required by U.S. GAAP for complete consolidated financial statements. These notes should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended June 30, 2012. In the opinion of management, these interim consolidated financial statements include all adjustments (consisting solely of normal recurring adjustments) which are necessary for a fair statement of results for the interim period presented. The results of operations for the three months and nine months ended March 31, 2013 are not necessarily indicative of the results to be expected for the full year.

Fiscal Year End

The Company has elected June 30 as its fiscal year end date.

Cash and Cash Equivalents

For purposes of reporting within the consolidated statements of cash flows, the Company and its subsidiaries consider all cash on hand, cash accounts not subject to withdrawal restrictions or penalties, and all highly liquid debt instruments purchased with a maturity of three months or less to be cash and cash equivalents.

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8

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and the following entities at March 31, 2013:

Entity	Jurisdiction or Place of Incorporation	Attributable Interest
Global MobileTech, Inc.	U.S.	100%
Trevenex Acquisitions, Inc.	U.S.	100%
Info-Accent Sdn Bhd	Malaysia	100%

All significant intercompany accounts and transactions have been eliminated in consolidation.

Impairment of Long-Lived Assets

In accordance to U.S. GAAP Codification of Accounting Standards (“ASC”) - 360, Accounting for the Impairment or Disposal of Long-Lived Assets, the Company evaluates the recoverability of long-lived assets and the related estimated remaining lives at each balance sheet date. The Company records an impairment or change in useful life whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. For the period ended March 31, 2013, and 2012, no events or circumstances occurred for which an evaluation of the recoverability of long-lived assets was required.

Revenue Recognition

Info-Accent Sdn Bhd, a wholly owned Malaysian subsidiary, commenced operations on April 7, 2010. The Company recognizes revenue when it is realized or realizable and earned less estimated future doubtful accounts. The Company applies the revenue recognition principles set forth under SEC Staff Accounting Bulletin (“SAB”) - 104 and considers revenue realized or realizable and earned when all of the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable, and (iv) collectability is reasonably assured.

The Company derives its revenue from sales contracts with customers with revenues being generated upon the product or services have been rendered. The Company also licenses the right to use its patent through license agreements. The annual license fee revenues are recognized when earned based on the contractual time period covered by the fees.

Accounts Receivable and Allowance for Doubtful Accounts

The Company recognizes an allowance for doubtful accounts to ensure that accounts receivable are not overstated due to uncollectibility. The allowance for doubtful accounts is maintained for all customers based on a variety of factors, including the length of time the receivables are past due, significant one-time events and historical experience. An additional reserve for individual accounts is recorded when the Company and its subsidiaries become aware of a customer’s inability to meet its financial obligation, such as in the case of bankruptcy filings or deterioration in the customer’s operating results or financial position. If the circumstances related to customers change, estimates of the recoverability of receivables would be further adjusted. At March 31, 2013 and 2012, the Company had no allowance for doubtful accounts.

9

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Stock-based Compensation

The Company accounts for its stock-based compensation in which the Company obtains employee services in share-based payment transactions under Financial Accounting Standards Board (“FASB”) - ASC Topic 718, Compensation - Stock Compensation, which requires the Company to expense the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of such instruments over the vesting period.

The Company accounts for equity instruments issued to parties other than employees for acquiring goods or services under guidance of FASB – ASC Topic 505-50-30. Pursuant to FASB - ASC paragraph 718-10-30-6, all transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the equity instrument issued, whichever is more reliably measurable. The measurement date used to determine the fair value of the equity instrument issued is the earlier of the date on which the performance is complete or the date on which it is probable that performance will occur.

The fair value of each option award is estimated on the date of grant using a Black-Scholes option-pricing valuation model. The ranges of assumptions for inputs are as follows:

· The Company uses historical data to estimate employee termination behavior.  The expected life of options granted is derived from FASB - ASC paragraph 718-10-S99-1 and represents the period of time the options are expected to be outstanding.  

· The expected volatility is based on a combination of the historical volatility of the comparable companies’ stock over the contractual life of the options.  

· The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the contractual life of the option.  

· The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the contractual life of the option.

Earnings per Common Share

Earnings/loss per common share is computed pursuant to FASB - ASC Topic 260, Earnings per Share. Basic net income/loss per share is computed by dividing net earnings/loss by the weighted average number of shares of common stock outstanding during the period. Diluted net income/loss per share is computed by dividing net earnings/loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period to reflect the potential dilution that could occur from common shares issuable through stock options and warrants.

[Remainder of page left blank.]

10

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Earnings per Common Share (Continued)

The following table shows the weighted-average number of potentially outstanding dilutive shares for the three and nine months ended March 31, 2013 and 2012:

		For the Three	For the Three	For the Nine	For the Nine
		Months ended	Months ended	Months ended	Months ended
		March 31,	March 31,	March 31,	March 31,
		2013	2012	2013	2012
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Net Income		$ 559,046	$ 581,324	$ 1,354,469	$ 1,338,592
Earnings Per Common Share:
	Basic	$ 0.07	$ 0.10	$ 0.18	$ 0.27
	Diluted	$ 0.07	$ 0.10	$ 0.17	$ 0.26
Weighted Average Number of
Common Shares Outstanding:
	Basic	7,532,411	5,584,464	7,489,163	4,871,277
	Diluted	7,896,376	5,899,847	7,941,431	5,167,244
		Weighted average number of potentially
		outstanding dilutive shares
		For the Three	For the Three	For the Nine	For the Nine
		Months ended	Months ended	Months ended	Months ended
		March 31,	March 31,	March 31,	March 31,
		2013	2012	2013	2012
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Common stock issued from date
of inception to March 31, 2013.		7,532,411	5,584,464	7,489,163	4,871,277
Warrants issued from July 2011 to March 31,
2013 in connection with the Company's  equity
financing.		116,812	116,812	116,812	123,203
Stock options issued to directors and officers
to purchase up to an aggregate 535,000 shares
of the Company's common stock at an exercise
price of 70% of the fair market value.		247,153	198,571	335,456	172,764
Total potentially outstanding dilutive shares		7,896,376	5,899,847	7,941,431	5,167,244

11

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Income Taxes

The Company accounts for income taxes under FASB - ASC Topic 740, Income Taxes. Deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes.  The deferred tax assets and liabilities are classified according to the consolidated financial statement classification of the assets and liabilities generating the differences.

The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company’s consolidated financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry forward period under the Federal tax laws.

Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change in estimate.

Fair Value of Financial Instruments

The Company has adopted FASB - ASC Topic 825, Financial Instruments, and ASC Topic 820, Fair Value Measurements and Disclosures, which establishes a framework for measuring fair value in U.S. GAAP and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, it establishes a three-level valuation hierarchy of valuation techniques based on observable and unobservable inputs, which may be used to measure fair value and include the following:

Level 1	Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
Level 2	Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
Level 3	Pricing inputs that are generally observable inputs and not corroborated by market data.

Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable.

The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

The carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts receivable, deposits, prepayments and other current assets, accounts payable, corporate income tax payable, accrued expenses and other current liabilities approximate their fair values because of the short maturity of these instruments.

The Company’s Level 3 financial liabilities consist of the derivative warrant issued in July 2011 for which there is no current market for these securities such that the determination of fair value requires significant judgment or estimation. The Company valued the automatic conditional conversion, re-pricing/down-round, change of control; default and follow-on offering provisions using a lattice model, with the assistance of a valuation specialist, for which management understands the methodologies. These models incorporate transaction details such as Company stock price, contractual terms, maturity, risk free rates, as well as assumptions about future financing, volatility, and holder behavior as of the date of issuance and each balance sheet date.

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Fair Value of Financial Instruments (Continued)

Transactions involving related parties cannot be presumed to be carried out on an arm's-length basis, as the requisite conditions of competitive, free-market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm's-length transactions unless such representations can be substantiated.

It is not, however, practical to determine the fair value of advances from the significant stockholder and lease arrangement with the significant stockholder, if any, due to their related party nature.

Estimates

The consolidated financial statements are prepared on the basis of U.S. GAAP. The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at March 31, 2013 and 2012 and June 30, 2012, and income and expenses for the periods then ended. Actual results could differ from those estimates made by management.

Foreign Currency Translation

The Company follows the provisions of ASC 830, Foreign Currency Translation. The functional currency of the Company’s foreign subsidiary and associate company is Ringgit Malaysia (“RM”). All foreign currency assets and liabilities amounts are re-measured into U.S. dollars at end-of-period exchange rates. Foreign currency income and expense are re-measured at average exchange rates in effect during the year. Exchange gains and losses arising from foreign currency transactions are included in operations in the period in which they occur. Foreign currency translations are included in other comprehensive income class.

The reporting currency of the Company is United States Dollar ("$"). In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, Translation of Financial Statement, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the year. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.

Unless otherwise noted, the rate presented below per US$1.00 was the midpoint of the interbank rate as quoted by OANDA Corporation ( www.oanda.com ) contained in its consolidated financial statements. Management believes that the difference between RM vs. U.S. Dollar exchange rate quoted by the Central Bank of Malaysia and RM vs. U.S. dollar exchange rate reported by OANDA Corporation were immaterial. Translations do not imply that the RM amounts actually represent, or have been or could be converted into, equivalent amounts in U.S. dollars. Translation of amounts from RM into U.S. dollars has been made at the following exchange rates for the respective periods:

	March 31,
	2013	2012
Balance Sheet	3.0746	3.0615
Statement of operations and comprehensive income (loss)	3.0732	3.0716

Property, Plant  and Equipment

Property, plant and equipment are recorded at cost. Depreciation and amortization are computed by the straight-line method over the estimated useful lives of the applicable assets, or term of the lease, whichever is shorter, if applicable. Expenditures for maintenance and repairs that do not improve or extend the life of the expected assets are expensed to operations, while expenditures for major upgrades to existing items are capitalized. Property, plant and equipment are depreciated and amortized over estimated useful lives ranging from 2 to 5 years.

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Intangible Assets

Intangible assets are stated at cost, less accumulated amortization. Amortization is provided using the straight-line method over the estimated useful lives of the assets. Estimated useful lives range from 5 to 10 years.

Lease Obligations

All non-cancelable leases with an initial term greater than one year are categorized as either capital leases or operating leases. Assets recorded under capital leases are amortized according to the methods employed for property, plant and equipment or over the term of the related lease, if shorter.

Other Comprehensive Income

The Company presents comprehensive income (loss) under FASB - ASC 220, Comprehensive Income. ASC 220 states that all items that are required to be recognized under accounting standards as components of comprehensive income (loss) be reported in the financial statements. Accumulated other comprehensive income consisted of unrealized gains or losses resulting from the translation of financial statements from RM to U.S.$.

For the three months and nine months ended March 31, 2013 and 2012, comprehensive income for the Company consisted of net income/loss for the period and foreign currency translation adjustments and is presented in the Company’s Consolidated Statements of Operations and Comprehensive Income. Components of the Company’s comprehensive income for the three months and nine months ended March 31, 2013 and 2012 as follow:

		For the Three	For the Three	For the Nine	For the Nine
		Months ended	Months ended	Months ended	Months ended
		March 31,	March 31,	March 31,	March 31,
		2013	2012	2013	2012
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Net Income		$ 559,046	$ 581,324	$ 1,354,469	$ 1,338,592
Comprehensive Income (Loss):
	Foreign currency translation adjustment	(107,668)	191,172	258,261	(24,757)
Total Comprehensive Income		$ 451,378	$ 772,496	$ 1,612,730	$ 1,313,835

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14

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 2 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are stated at cost less depreciation. Property, plant and equipment consists of the following at March 31, 2013 and June 30, 2012.

		At March 31,	At June 30,
		2013	2012
Computer Software		$ 3,717,164	$ 3,580,112
Plant and Machinery		654,719	630,580
Furniture and Fittings		1,839	1,771
Renovation		11,086	10,677
Office Computers		2,238	-
		4,387,046	4,223,140
(Less): Accumulated depreciation		1,536,299	843,725
	Net Book Value	$ 2,850,747	$ 3,379,415

The depreciation expense recorded was $660,576 and $431,784 for the nine months ended March 31, 2013 and 2012, respectively.

NOTE 3 – PATENT

On June 27, 2011, Info-Accent Sdn Bhd entered into a Patent Purchase Agreement with Sunway Technology Development Limited (“Sunway”) to purchase the entire right, title and interest in and to the U.S. patent # 8,005,057 for a total consideration of approximately $3.5 million. The patent relates to a certain invention entitled “DATA COMMUNICATIONS BETWEEN SHORT-RANGE ENABLED WIRELESS DEVICES OVER NETWORKS AND PROXIMITY MARKETING TO SUCH DEVICES”. The patent will expire on June 30, 2028.

Pursuant to the Patent Purchase Agreement,Sunway will receive net payment of $3.0 million after setting off a sum of $500,000 previously paid by Info-Accent to VyseTech Asia Sdn Bhd (“VTA”) as a one-time license fee. Sunway received the remaining purchase consideration of $3.0 million through a combination of $2.0 million cash and issuance of 1.0 million unregistered shares of the Company’s common stock at $1.00 per share. On August 3, 2011, Info-Accent and Sunway executed a Supplemental Agreement to the Patent Purchase Agreement whereby Sunway agreed to receive 1,000,000 unregistered shares of common stock of the Company at $1.00 per share as full and final payment for the purchase of the patent. On August 5, 2011, the Company issued 1,000,000 restricted shares of its common stock to Sunway.

The acquisition of the patent will enable the Company to commercialize the proprietary technology, further enhance the technology and develop new mobile applications that will allow the Company to license to third parties globally; and provide the Company with the security and independence the Company needs for growth without being subjected to any form of control by a third party. Concurrent with the acquisition of the patent, Info-Accent terminated the five-year exclusive Marketing, Distribution and License Agreement with VTA on June 27, 2011.

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15

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 3 – PATENT (Continued)

A summary of the patent at March 31, 2013 and June 30, 2012 were presented below.

		At March 31,	At June 30,
		2013	2012
Patent		$ 3,483,997	$ 3,355,543
(Less): Accumulated amortization		674,749	398,205
	Net Book Value	$ 2,809,248	$ 2,957,338

The amortization expense recorded was $261,419 and $261,555 for the nine months ended March 31, 2013 and 2012, respectively.

NOTE 4 - PATENT AND TECHNOLOGY LICENSE AGREEMENT

On December 15, 2011, the Company entered into a five-year Patent and Technology License Agreement (the “Technology License Agreement”) with Soon Hock Lim (“SHL”) pursuant to which SHL agreed to grant to the Company non-exclusive licensing rights to use the proprietary technologies and claims under U.S. patent # 8,089,943 in Malaysia, China, Thailand, Philippines and Indonesia. The provisions of the agreement require the Company to make a onetime license fee payment to SHL in the amount of $600,000, within thirty days of the execution of the Technology License Agreement. In addition to the onetime only payment, the Company will be required to pay a royalty equivalent to one percent (1%) of its gross sales which will be due and payable on or before each anniversary of the effective date of the Technology License Agreement or a minimum royalty payment of $100,000 annually, whichever is the higher. SHL agreed to accept 740,740 shares of the Company’s common stock at $0.54 per share for $400,000 in the aggregate and cash payment of $200,000 due within thirty days. On December 29, 2011, the Company issued 740,740 restricted shares of its common stock to SHL.

On March 23, 2012, the Company entered into an Amended Patent and Technology License Agreement (the “Amended Technology License Agreement I”) pursuant to the Technology License Agreement signed on December 15, 2011 with SHL. Pursuant to the Amended Technology License Agreement I, SHL agreed to expand the licensed territory to include Vietnam, India and Korea. The provisions of the agreement required the Company to make additional onetime only license fee payment to SHL in the amount of $450,000, within sixty days of the execution of the Technology License Agreement. In addition to the onetime only payment, the Company will be required to pay a royalty equivalent to one percent (1%) of the Company’s gross sales which will be due and payable on or before each anniversary of the effective date of the Technology License Agreement or a minimum royalty payment of $100,000 annually, whichever is the higher. SHL agreed to accept 1,000,000 shares of the Company’s common stock at $0.30 per share for $300,000 in the aggregate and cash payment of $150,000, in lieu of the original payment of $450,000. The Company issued 1,000,000 restricted shares of its common stock to SHL on March 23, 2012 and the balance of the purchase consideration totaling $150,000 was due by May 22, 2012.

On June 1, 2012, the Company entered into a Second Amended Patent and Technology License Agreement  (the “Amended Technology License Agreement II”) with SHL. Pursuant to the Amended Technology License Agreement II, SHL agreed to accept 500,000 shares of the Company’s common stock at $0.30 per share for $150,000 in lieu of cash payment. On June 6, 2012, the Company issued 500,000 restricted shares of its common stock to SHL as full and final payment of the license fee.

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16

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 4 - PATENT AND TECHNOLOGY LICENSE AGREEMENT (Continued)

A summary of the patent and technology license agreement at March 31, 2013 and June 30, 2012 is presented below.

		At March 31,	At June 30,
		2013	2012
Patent and Technology License Agreement		$ 1,050,000	$ 1,050,000
(Less): Accumulated amortization		122,500	43,750
	Net Book Value	$ 927,500	$ 1,006,250

The amortization expense recorded was $78,750 and $17,500 for the nine months ended March 31, 2013 and 2012, respectively

NOTE 5 – METHODOLOGY AND TECHNOLOGY ASSIGNMENT

On September 1, 2010, Info-Accent entered into an Assignment Agreement with the Company’s Chairman, Chief Executive Officer and Director Mohd Aris Bernawi whereby the Chairman assigned to the Company exclusively, throughout the world, all rights, title and interest in the methodology for the optimal sizing of solar PV-wind power generation system for a total consideration of $50,000. Under the terms of the Assignment Agreement, the Company issued 50,000 shares of common stock at $1.00 per share to the Chairman in lieu of cash payment as consideration for the Assignment. On September 1, 2010, the Company issued 50,000 unregistered shares of its common stock at $1.00 per share, to Mohd Aris Bernawi as full and final payment in connection with the acquisition.

The methodology relates to finding the optimum configuration, among a set of system components, which meets the desired system reliability requirements with the lowest value of levelized cost of energy (“LCE”). The LCE is a procedure for determining and comparing the cost of producing energy using different solar panel and wind turbine technologies. The procedure takes into account the installed system price and associated costs such as financing, land, insurance, transmission, operation and maintenance, depreciation, carbon emission and efficiency of the solar panel and wind turbine used.

Two steps are involved in the optimal sizing procedure. The first step is to design a solar PV-wind model based on available local solar and wind data. The second step is to optimize the sizing of a system according to the loss of power supply probability (“LPSP”) and the LCE concepts. The configuration: (i) which can meet the desired system reliability is obtained by changing the type and size of components that make up the system; and (ii) with the lowest LCE gives the optimal choice that places an important role in cost reduction as well as energy production.

The Company has utilized the optimal sizing procedure in the design and integration of its solar PV-wind power generation applications for:

1.   rural and remote island electrification,

2.   powering remote radio base stations,

3.   potable water production; and

4.   potable water production and organic vegetable cultivation.

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 5 – METHODOLOGY AND TECHNOLOGY ASSIGNMENT (Continued)

A summary of the methodology and technology assignment at March 31, 2013 and June 30, 2012 were presented below.

		At March 31,	At June 30,
		2013	2012
Methodology and Technology Assignment		$ 51,276	$ 49,385
(Less): Accumulated amortization		26,492	18,108
	Net Book Value	$ 24,784	$ 31,277

The amortization expense recorded was $7,695 and $7,699 for the nine months ended March 31, 2013 and 2012, respectively.

NOTE 6 – STOCKHOLDERS’ EQUITY

Common Stock

On December 15, 2011, the Company entered into a five-year Patent and Technology License Agreement (the “Technology License Agreement”) with Soon Hock Lim (“SHL”) pursuant to which SHL agreed to grant to the Company non-exclusive licensing rights to use the proprietary technologies and claims under U.S. patent # 8,089,943.  Pursuant to the Technology License Agreement, the Company is required to pay a royalty equivalent to one percent (1%) of its gross sales which will be due and payable on or before each anniversary of the effective date of the Technology License Agreement or a minimum royalty payment of $100,000 annually, whichever is the higher. The  royalty due to SHL for the period from January 2012 to December 2012 was $122,685. SHL agreed to accept 815,000 shares of GMT’s common stock at $0.15 per shares as full payment for the royalty due. On February 25, 2013, the Company issued 815,000 restricted shares of its common stock to SHL.

On February 25, 2013, the Company awarded an aggregate of 480,000 shares of its common stock to its directors and officers at $0.15 per share. These stock awards were valued on the date that generated a total fair value of $72,000.

Stock Option Plan

On December 10, 2007, the Company’s Board of Directors approved the adoption of the “2007 Non-Qualified Stock Option and Stock Appreciation Rights Plan” (“2007 Plan”) by unanimous consent and approved by the shareholders on the same date. The 2007 Plan continues in effect for ten years unless terminated earlier. The 2007 Plan was initiated to encourage and enable officers, directors, consultants, advisors, and other key employees of the Company to acquire and retain a proprietary interest in the Company by ownership of its common stock. A total of 1,000,000 of the authorized shares of the Company’s common stock may be subject to, or issued pursuant to, the terms of the 2007 Plan. The 2007 Plan was filed as an exhibit to our Registration Statement on Form S-1 filed on July 16, 2008.

A summary of the status of the Company’s stock options at March 31, 2013 and 2012; and June 30, 2012; and changes during the nine months ended March 31, 2013 and 2012; and for the year ended June 30, 2012 is presented below:

[Table is on following page]

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 6 – STOCKHOLDERS’ EQUITY (Continued)

Stock Option Plan (Continued)

	At
	March 31,	March 31,	June 30,
	2013	2012	2012
Beginning of the period	430,000	160,000	160,000
Granted	330,000	270,000	270,000
Exercised	(150,000)	-	-
Cancelled	(75,000)	-	-
End of the period	535,000	430,000	430,000
Options exercisable at end of period	205,000	160,000	227,500
Options unexercisable at end of period	330,000	270,000	202,500

As of March 31, 2013 and 2012, stock options available for issuance under the 2007 Plan was 305,000 and 560,000, respectively.

The following table summarizes information about options outstanding at March 31, 2013 and 2012.

		Stock Options Outstanding
		Number	Weighted Average	Weighted Average
		Outstanding	Remaining Contractual Life	Exercise Price
At March 31, 2013:
	For directors and officers	205,000	3.70	0.2802
	For directors and officers	330,000	5.16	0.2802
Total		535,000	4.60	0.2802
At March 31, 2012:
	For directors and officers	160,000	3.75	0.2859
	For directors and officers	270,000	4.96	0.2859
Total		430,000	4.51	0.2859

As of March 31, 2013 and 2012, these stock options were valued at 70% of the fair market value using the Black-Scholes option-pricing model that generated a total fair value of $149,907 and $122,937, respectively.

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19

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 6 – STOCKHOLDERS’ EQUITY (Continued)

Warrants

A summary of the status of the Company’s warrants as of March 31, 2013 and 2012; and changes during 2013 and 2012 is presented below:

	At
	March 31,	March 31,
	2013	2012
Beginning of the period	116,812	170,247
Granted	-	-
Exercised	-	(53,435)
Cancelled	-	-
End of the period	116,812	116,812
Weighted average exercise price
(Black-Scholes options pricing)	0.1199	0.4590

At March 31, 2013, 116,812 warrants remain outstanding and were valued using Black-Scholes option-pricing model that generated a total current fair value of $14,006. During the nine months ended March 31, 2012, four accredited investors exercised their warrants to purchase 53,435 shares of the Company’s common stock at $1.00 per share resulting in gross proceeds to the Company of $53,435. At March 31, 2012, 116,812 warrants remained outstanding and were valued using Black-Scholes option-pricing model that generated a total fair value of $53,617.

NOTE 7 – INCOME TAXES

United States income tax

GMT and Trevenex Acquisitions, Inc. are incorporated in the State of Nevada and are subjected to United States of America tax laws.

The provision (benefit) for income taxes for the United States for the nine months ended March 31, 2013 and 2012, were as follows (assuming a 15 percent effective tax rate):

		Nine Months Ended
		March 31	March 31
		2013	2012
Current Tax Provision:
	Federal-
	Taxable income	$ -	$ -
	Total current tax provision	$ -	$ -
Deferred Tax Provision:
	Federal-
	Loss carryforward	$ 29,848	$ 76,994
	Change in valuation allowance	(29,848)	(76,994)
	Total deferred tax provision	$ -	$ -

20

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 7 – INCOME TAXES (Continued)

United States income tax (Continued)

The Company had deferred income tax assets as of March 31, 2013 and June 30, 2012 as follows:

	As of	As of
	March 31	June 30,
	2013	2012
Loss carryforward	$ 71,598	$ 41,750
Less - Valuation allowance	(71,598)	(41,750)
Total net deferred tax assets	$ -	$ -

The Company provided a valuation allowance equal to the deferred income tax assets for the nine months ended March 31, 2013 and June 30, 2012, because it is not presently known whether future taxable income will be sufficient to utilize the loss carryforward.

As of March 31, 2013 and June 30, 2012, the Company had approximately $477,319 and $278,330, respectively, in tax loss carryforward that can be utilized in future periods to reduce taxable income, and will begin to expire in the year 2027.

Malaysia income tax

Info-Accent is registered and operates in Malaysia and is subject to Malaysian tax laws. The statutory income tax rate is 20%. Info-Accent provided a deferred income tax liability for the nine months ended March 31, 2013 due to the temporary differences from the excess of capital allowances over depreciation.

The income of the Company was derived from its activities in Malaysia. The entity in Malaysia is subject to file on an entity–by-entity basis. The provisions for the income tax liability of the Malaysian subsidiary for the nine months ended March 31, 2013 and 2012, respectively, are as follows:

	Nine Months Ended
	March 31	March 31
	2013	2012
Current tax expense	$ 116,653	$ 126,247
Deferred tax expense	-	-
Provision for Malaysian income tax expense	$ 116,653	$ 126,247

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21

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 8 – RELATED PARTY TRANSACTIONS

Mohd Aris Bernawi, the Chairman and Chief Executive Officer, is paid a fixed monthly allowance of RM2,000 (approximately $645) in performing his duties as an Officer of the Company. During the nine months ended March 31, 2013, the Chairman advanced monies to the Company to meet additional operating expenses in connection with additional contracts secured by the Company. At March 31, 2013, the Company owed the Chairman $28,211.  This amount is unsecured, bears no interest and has no fixed terms of repayment.

During the nine months ended March 31, 2013, Valerie Looi, the President and Secretary of the Company advanced monies to the Company to meet additional operating and marketing expenses in connection with additional contracts secured by the Company. At March 31, 2013, the Company owed Ms Looi $38,430.  This amount is unsecured, bears no interest and has no fixed terms of repayment.

NOTE 9 - SIGNIFICANT CONCENTRATION AND CREDIT RISK

Customer Concentration

At March 31, 2013 and 2012, five and four customers, respectively, accounted for 83% and 81% of the trade accounts receivable. Credit concentration in the form of accounts receivables at March 31, 2013 and 2012 were as follows:

	Percentage of Accounts
	Receivable at
	March 31
	2013	2012
Mobile VoIP Communications and Mobile Advertising
Customer A	-	22%
Customer C	29%	21%
Customer D	12%	15%
Customer E	16%	-
Customer F	14%	23%
Renewable Energy
Customer J	12%	-
	83%	81%

Vendor Concentration

At March 31, 2013 and 2012, six and two vendors, respectively, accounted for 98% and 86% of total trade accounts payable. The Company does not rely on any single vendor to provide services. It has made a strategic decision to engage the services of only a small number of vendors after taking into consideration the quality of service and competitive pricing offered. Should the need arise, the Company could utilize alternative vendors for the services required. Vendor concentration at March 31, 2013 and 2012 were as follows:

[Table is on following page.]

22

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 9 - SIGNIFICANT CONCENTRATION AND CREDIT RISK (Continued)

Vendor Concentration (Continued)

	Percentage of Accounts
	Payable at
	March 31
	2013	2012
Mobile VoIP Communications and Mobile Advertising
Vendor A	12%	-
Vendor B	17%	-
Vendor C	30%	49%
Vendor E	14%	-
Vendor F	14%	-
Renewable Energy
Vendor G	11%	37%
	98%	86%

NOTE 10 - SEGMENT INFORMATION

The Company manages its business and aggregates its operational and financial information in accordance with two operating segments; namely (i) mobile VoIP communications and mobile advertising; and (ii) renewable energy.

Although the Company is able to track revenues by sales channel, the management, allocation of resources, analysis and reporting of expenses is presented on a combined basis, at the reportable segment level. Contribution margin is defined as net revenue less cost of sales and total operating expenses.

The following table sets forth the revenue and percentage of revenue attributable to each of the Company's operating segments.

[Table is on following page.]

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GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 10 - SEGMENT INFORMATION (Continued)

		For the Three Months Ended
		March 31,
	2013			2012
Revenue		Revenue	% of Revenue		Revenue	% of Revenue
Mobile VoIP Communications and Mobile Advertising	$	3,808,514	85%	$	2,557,386	64%
Renewable Energy		651,371	15%		1,447,036	36%
	$	4,459,885	100%	$	4,004,422	100%
Cost of Goods Sold		Cost of Goods Sold	% of Cost of Goods Sold		Cost of Goods Sold	% of Cost of Goods Sold
Mobile VoIP Communications and Mobile Advertising	$	2,495,045	83%	$	1,652,855	60%
Renewable Energy		521,014	17%		1,105,509	40%
	$	3,016,059	100%	$	2,758,364	100%
Gross Profit		Gross Profit	% of Gross Profit		Gross Profit	% of Gross Profit
Mobile VoIP Communications and Mobile Advertising	$	1,313,469	91%	$	904,531	73%
Renewable Energy		130,357	9%		341,527	27%
	$	1,443,826	100%	$	1,246,058	100%
Income (Loss)  before Tax	Income (Loss) before Tax		% of Income before Tax	Income (Loss) before Tax		% of Income before Tax
Mobile VoIP Communications and Mobile Advertising	$	626,332	102%	$	276,055	44%
Renewable Energy		(12,367)	-2%		354,340	56%
	$	613,965	100%	$	630,395	100%

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24

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 10 - SEGMENT INFORMATION  (Continued)

		For the Nine Months Ended
		March 31,
	2013			2012
Revenue		Revenue	% of Revenue		Revenue	% of Revenue
Mobile VoIP Communications and Mobile Advertising	$	10,532,995	80%	$	5,432,999	48%
Renewable Energy		2,709,879	20%		5,882,276	52%
	$	13,242,874	100%	$	11,315,275	100%
Cost of Goods Sold		Cost of Goods Sold	% of Cost of Goods Sold		Cost of Goods Sold	% of Cost of Goods Sold
Mobile VoIP Communications and Mobile Advertising	$	6,972,212	77%	$	3,281,027	41%
Renewable Energy		2,090,329	23%		4,639,926	59%
	$	9,062,541	100%	$	7,920,953	100%
Gross Profit		Gross Profit	% of Gross Profit		Gross Profit	% of Gross Profit
Mobile VoIP Communications and Mobile Advertising	$	3,560,783	85%	$	2,151,972	63%
Renewable Energy		619,550	15%		1,242,350	37%
	$	4,180,333	100%	$	3,394,322	100%
Income (Loss)  before Tax	Income (Loss) before Tax		% of Income before Tax	Income (Loss) before Tax		% of Income before Tax
Mobile VoIP Communications and Mobile Advertising	$	1,250,351	85%	$	608,701	42%
Renewable Energy		220,771	15%		856,138	58%
	$	1,471,122	100%	$	1,464,839	100%

			At
				March 31, 2013		June 30, 2012
Segment assets
	Total Assets
		Mobile VoIP Communications and Mobile Advertising	$	9,021,121	$	6,867,487
		Renewable Energy		2,166,379		1,898,661
			$	11,187,500	$	8,766,148

NOTE 11 – RECENT ACCOUNTING PRONOUNCEMENTS

From time to time, the Financial Accounting Standards Board (“FASB”) or other standards setting bodies issue new accounting pronouncements.  Updates to the FASB Accounting Standards Codification (“ASC”) are communicated through issuance of an Accounting Standards Update (“ASU”).

25

GLOBAL MOBILETECH, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2013 AND 2012

(Unaudited)

NOTE 11 – RECENT ACCOUNTING PRONOUNCEMENTS-(Continued)

In July 2012, the FASB issued Accounting Standards Update ASU No. 2012-01, Health Care Entities (Topic 954) - Continuing Care Retirement Communities - Refundable Advance Fees. ASU 2012-01 updates Subtopic 954-430, Health Care Entities - Deferred Revenue, requires that a continuing care retirement community recognize a deferral of revenue when a contract between a continuing care retirement community and a resident stipulates that  (1) a portion of the advanced fee is refundable if the contract holder’s unit is reoccupied by a subsequent resident, (2) the refund is limited to the proceeds of reoccupancy, and (3) the legal environment and the entity’s management policy and practice support the withholding of refunds under condition (2). The objective of this Update is to clarify the reporting for refundable advance fees received by continuing care retirement communities. The amendments in this Update are effective for fiscal periods beginning after December 15, 2012. The amendments of ASU 2012-01, when adopted of the amended guidance are not expected to have a material impact on the Company’s consolidated financial statements.

In July 2012 the FASB issued ASU No. 2012-02, Intangibles - Goodwill and Other (Topic 350) Testing Indefinite-Lived Intangible Assets for Impairment, which simplifies how entities test indefinite-lived intangible assets for impairment. ASU 2012-02 permits an entity to first assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test currently required by ASC Topic 350-30 on general intangibles other than goodwill. ASU 2012-02 is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted, provided that the entity has not yet issued its financial statements. The Company does not anticipate any material impact from the adoption of ASU 2012-02.

In August 2012, the FASB issued ASU 2012-03, Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin (“SAB”) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections Related to FASB Accounting Standards Update 2010 in ASU No. 2012-03. This update amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material impact on our financial position or results of operations.

In October 2012, the FASB issued ASU 2012-04, Technical Corrections and Improvements in ASU No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on our financial position or results of operations.

In February 2013, the FASB issued ASU 2013-02, Comprehensive Income (Topic 220) - Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The amendments in this Update on the reporting of amounts reclassified from accumulated other comprehensive income. An entity is required to present either parenthetically on the face of the financial statements or in the notes, significant amounts reclassified from each component of accumulated other comprehensive income and the income statement line items affected by the reclassification. However, an entity would not need to show the income statement line item affected for certain components that are not required to be reclassified in their entirety to net income, such as amounts amortized into net periodic pension cost. The standard is effective prospectively for public entities for fiscal years, and interim periods with those years, beginning after December 15, 2012. Early adoption is permitted. The adoption of ASU 2013-02 is not expected to have a material impact on our financial position or results of operations.

Certain accounting pronouncements have been issued by the FASB and other standard setting organizations which are not yet effective and have not yet been adopted by the Company.  The impact on the Company’s financial position and results of operations from adoption of these standards is not expected to be material to the Company.

NOTE 12 - SUBSEQUENT EVENT

The Company has evaluated subsequent events per the requirements of ASC Topic 855 and has concluded that there is no event to be reported.

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ITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Overview

We have two operating segments, namely: (i) mobile VoIP communications and mobile advertising services; and (ii) renewable energy.

Results of Operations

Our revenue for the three months ended March 31, 2013 was $4,459,885 comprising of $3,808,514 from mobile VoIP and mobile advertising services and $651,371 generated from the provision of renewable energy consultancy services. Our earnings were $0.07 per share and net income before tax was $613,965 with $626,332 from mobile VoIP and mobile advertising and loss of $12,367 from renewable energy.

For the nine months ended March 31, 2013 our revenue was $13,242,874 comprising of $10,532,995 from mobile VoIP and mobile advertising services and $2,709,879 generated from the provision of renewable energy consultancy services. Our earnings were $0.17 per share and net income before tax was $1,471,122 with $1,250,351 from mobile VoIP and mobile advertising and $220,771 from renewable energy.

Revenues

Operating Segment Revenue for the Three and Nine Months Ended March 31, 2013

The following table sets forth the revenue and percentage of revenue attributable to each of our two operating segments.

		For the Three Months Ended
		March 31,
	2013			2012
Revenue		Revenue	% of Revenue		Revenue	% of Revenue	Increase / (Decrease)	% Increase / (Decrease)
Mobile VoIP Communications and Mobile Advertising	$	3,808,514	85%	$	2,557,386	64%	1,251,128	49%
Renewable Energy		651,371	15%		1,447,036	36%	(795,665)	(55%)
	$	4,459,885	100%	$	4,004,422	100%	455,463	11%
		For the Nine Months Ended
		March 31,
	2013			2012
Revenue		Revenue	% of Revenue		Revenue	% of Revenue	Increase / (Decrease)	% Increase / (Decrease)
Mobile VoIP Communications and Mobile Advertising	$	10,532,995	80%	$	5,432,999	48%	5,099,996	94%
Renewable Energy		2,709,879	20%		5,882,276	52%	(3,172,397)	(54%)
	$	13,242,874	100%	$	11,315,275	100%	1,927,599	17%

The increase in revenue for our mobile VoIP communications and mobile advertising segment for the three and nine months ended March 31, 2013 compared to March 31, 2012 was attributed to (i) the ongoing revenue stream from mobile VoIP communications and mobile advertising contracts that were secured during fiscal 2012 and 2011; and (ii) adoption of the technology licensing model following the acquisition of U.S. patent #8,005,057 on June 27, 2011. Our adoption of the technology-licensing model has helped us to create a new recurring revenue stream. The new model has also helped our customers to offer a more flexible pricing structure to compete more aggressively in the market.

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The lower revenue for our renewable energy segment for the three and nine months ended March 31, 2013 compared to March 31, 2012 was attributed to (i) the completion of four renewable energy contracts that were secured during fiscal 2012 and 2011; and (ii) a slow down in new investments on the production of biomass energy due to the scarcity of feedstock.

Customer Concentration

Customer concentration based on revenue contribution for the three and nine months ended March 31, 2013 and 2012; and credit concentrations at March 31, 2013 and 2012 were as follows:

	Net Sales
	For the three months ended		For the nine months ended		Accounts Receivable at
	March 31,		March 31,		March 31,
	2013	2012	2013	2012	2013	2012
Mobile VoIP Communications and Mobile Advertising
Customer A	17%	19%	17%	19%	-	22%
Customer B	-	-	-	10%	-	-
Customer C	26%	16%	24%	14%	29%	21%
Customer D	16%	-	16%	-	12%	15%
Customer E	13%	-	15%	-	16%	-
Customer F	16%	13%	15%	13%	14%	23%
Customer G	-	10%	-	10%	-	-
Customer H	-	10%	-	-	-	-
Customer I	-	-	-	10%	-	-
	88%	68%	87%	76%
Renewable Energy
Customer J	100%	24%	64%	24%	12%	-
Customer K	-	25%	36%	25%	-	-
Customer L	-	25%	-	25%	-	-
Customer M	-	26%	-	26%	-	-
	100%	100%	100%	100%	83%	81%

These significant customers play an important role in our revenue. If we are unable to retain any of the significant customers for our mobile VoIP communications and mobile advertising business segment it will have a material adverse effect on our results of operations and financial condition. We have increased our marketing efforts to increase our customer base to reduce our reliance on the five significant customers from our mobile VoIP communications and mobile advertising segment.

The following table sets forth revenues attributed to geographical location of our respective customers for the three and nine months ended March 31, 2013 and 2012.

[Remainder of page left blank.]

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		For the Three Months Ended
		March 31, 2013
	2013			2012
		Revenue	% of Revenue		Revenue	% of Revenue	Increase / (Decrease)		% Increase / (Decrease)
Malaysia
Mobile VoIP Communications and Mobile Advertising	$	3,645,468	82%	$	2,393,897	60%	$	1,251,571	52%
Renewable Energy		651,371	15%		1,447,035	36%		(795,664)	(55%)
	$	4,296,839	96%	$	3,840,932	96%	$	455,907	12%
Hong Kong
Mobile VoIP Communications and Mobile Advertising	$	163,046	4%	$	163,490	4%	$	(444)	0%
Renewable Energy		-	-		-	-		-	-
	$	163,046	4%	$	163,490	4%	$	(444)	0%
Total Revenue	$	4,459,885	100%	$	4,004,422	100%	$	455,463	11%

		For the Nine Months Ended
		March 31, 2013
	2013			2012
		Revenue	% of Revenue		Revenue	% of Revenue	Increase / (Decrease)		% Increase / (Decrease)
Malaysia
Mobile VoIP Communications and Mobile Advertising	$	10,044,904	76%	$	4,944,654	44%	$	5,100,250	103%
Renewable Energy		2,709,879	20%		5,882,276	52%		(3,172,397)	(54%)
	$	12,754,783	96%	$	10,826,930	96%	$	1,927,853	18%
Hong Kong
Mobile VoIP Communications and Mobile Advertising	$	488,091	4%	$	488,345	4%	$	(254)	0%
Renewable Energy		-	-		-	-		-	-
	$	488,091	4%	$	488,345	4%	$	(254)	0%
Total Revenue	$	13,242,874	100%	$	11,315,275	100%	$	1,927,599	17%

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Cost of Goods Sold

		For the Three Months Ended
		March 31,
	2013			2012
Cost of Goods Sold		Cost of Goods Sold	% of Cost of Goods Sold	Cost of Goods Sold		% of Cost of Goods Sold	Increase / (Decrease)	% Increase / (Decrease)
Mobile VoIP Communications and Mobile Advertising	$	2,495,045	83%	$	1,652,855	60%	842,190	51%
Renewable Energy		521,014	17%		1,105,509	40%	(584,495)	(53%)
	$	3,016,059	100%	$	2,758,364	100%	257,695	9%
		For the Nine Months Ended
		March 31,
	2013			2012
Cost of Goods Sold		Cost of Goods Sold	% of Cost of Goods Sold	Cost of Goods Sold		% of Cost of Goods Sold	Increase / (Decrease)	% Increase / (Decrease)
Mobile VoIP Communications and Mobile Advertising	$	6,972,212	77%	$	3,281,027	41%	3,691,185	113%
Renewable Energy		2,090,329	23%		4,639,926	59%	(2,549,597)	(55%)
	$	9,062,541	100%	$	7,920,953	100%	1,141,588	14%

The increase in cost of goods sold was due to an increase in revenues from our mobile VoIP communications and mobile advertising business segment

Vendor Concentration

Vendor concentration for the three and nine months ended March 31, 2013 and 2012; and accounts payable at March 31, 2013 and 2012 were as follows:

	Net Purchases				Accounts Payable
	For the three months ended		For the nine months ended		at
	March 31,		March 31,		March 31,
	2013	2012	2013	2012	2013	2012
Mobile VoIP Communications and Mobile Advertising
Vendor A	13%	-	-	-	12%	-
Vendor B	16%	20%	17%	19%	17%	-
Vendor C	30%	41%	30%	36%	30%	49%
Vendor D	13%	20%	14%	30%	-	-
Vendor E	14%	19%	15%	15%	14%	-
Vendor F	14%	-	15%	-	14%	-
	100%	100%	91%	100%
Renewable Energy
Vendor G	100%	74%	100%	54%	11%	37%
Vendor H	-	26%	-	46%	-	-
	100%	100%	100%	100%	98%	86%

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We outsource our mobile advertising work to our vendors to: (i) accelerate the commercial rollout of our business, (ii) minimize our up-front investment and financial risks, (iii) enable us to offer products and services to our customers that we believe are best-in-class; and (iv) allow us to focus on our core competency in the development of mobile VoIP communications and mobile advertising applications. We have adopted a similar model in rolling out our solar PV-wind power generation business. All our vendors are located in Malaysia.

Gross Profit

		For the Three Months Ended
		March 31,
	2013			2012
Gross Profit		Gross Profit	% of Gross Profit		Gross Profit	% of Gross Profit	Increase / (Decrease)	% Increase / (Decrease)
Mobile VoIP Communications and Mobile Advertising	$	1,313,469	91%	$	904,531	73%	408,938	45%
Renewable Energy		130,357	9%		341,527	27%	(211,170)	(62%)
	$	1,443,826	100%	$	1,246,058	100%	197,768	16%
		For the Nine Months Ended
		March 31,
	2013			2012
Gross Profit		Gross Profit	% of Gross Profit		Gross Profit	% of Gross Profit	Increase / (Decrease)	% Increase / (Decrease)
Mobile VoIP Communications and Mobile Advertising	$	3,560,783	85%	$	2,151,972	63%	1,408,811	65%
Renewable Energy		619,550	18%		1,242,350	37%	(622,800)	(50%)
	$	4,180,333	100%	$	3,394,322	100%	786,011	23%

Gross profit margin for the three and nine months ended March 31, 2013 and 2012 were as follows:

		For the Three Months Ended
		March 31,
	2013		2012
Mobile VoIP Communications and Mobile Advertising	34%		35%
Renewable Energy	20%		24%
Overall Gross Profit Margin	32%		31%
		For the Nine Months Ended
		March 31,
	2013		2012
Mobile VoIP Communications and Mobile Advertising	34%		40%
Renewable Energy	23%		21%
Overall Gross Profit Margin	32%		30%

31

For the three and nine months ended March 31, 2013, gross profit margin from mobile VoIP and mobile advertising segment decreased due to higher cost of sales from our mobile VoIP communications and mobile advertising contracts.

Gross profit margin for the renewable energy segment remains in the average of 22% and overall gross profit margin remains at the range between 30% to 32%.

Total Operating Expenses

Three Months Ended March 31, 2013 Compared To Three Months Ended March 31, 2012

	For the Three Months Ended
	March 31,
	2013		2012		Increase / (Decrease)		% Increase / (Decrease)
Other General & Administration	$	277,306	$	157,557	$	119,749	76%
Depreciation & Amortization		336,851		249,697		87,154	35%
Professional Fees		19,018		12,646		6,372	50%
Sales & Marketing		195,655		195,763		(108)	-
Total Operating Expenses	$	828,830	$	615,663	$	213,167	35%

The increase in our operating expenses for the three months ended March 31, 2013 as compared to the three ended March 31, 2012 was attributed primarily to an increase in provision for depreciation and amortization of assets; other general and administration expenses and professional fees.

For the three months ended March 31, 2013, the increase in other general and administrative expenses was primarily attributable to higher development costs and royalties expenses. For the three months ended March 31, 2013, 35% of the total general and administrative expenses was for development cost, 26% was stock compensation, 13% was for royalties expenses, 11% was for administration and clerical costs; 5% was for payroll and 10% for other expenses such as rental of office space and utilities.

The increase in professional fees for the three months ended March 31, 2013 compared to the same period in 2012 was primarily attributable to lower attorney fees incurred during the quarter ended March 31, 2012.

Sales and marketing expenses for the three months ended March 31, 2013 relate to the promotion and marketing of Info-Accent's mobile VoIP communications, mobile advertising advertisement and microblogging services in Asia.

Nine Months Ended March 31, 2013 Compared To Nine Months Ended March 31, 2012

	For the Nine Months Ended
	March 31,
	2013		2012		Increase / (Decrease)		% Increase / (Decrease)
Other General & Administration	$	1,061,989	$	759,731	$	302,258	40%
Depreciation & Amortization		1,008,440		718,538		289,902	40%
Professional Fees		53,074		60,538		(7,464)	(12%)
Sales & Marketing		585,709		390,676		195,033	50%
Total Operating Expenses	$	2,709,212	$	1,929,483	$	779,729	40%

32

The increase in our operating expenses for the nine months ended March 31, 2013 as compared to the nine months ended March 31, 2012 was attributed primarily to an increase in provision for depreciation and amortization of assets; other general and administration expenses and sales and marketing expenses.

For the nine months ended March 31, 2013, the increase in other general and administrative expenses was primarily attributable to a higher development cost and royalty expenses in 2013 compared to the same period in 2012. For the nine months ended March 31, 2013, 65% of the total general and administrative expenses was for development cost, 5% was stock compensation, 10% was for royalties expenses, 8% was for administration and clerical costs; 5% was for payroll and 7% for other expenses such as rental of office space and utilities.

The decrease in professional fees for the nine months ended March 31, 2013 compared to the same period in 2012 was primarily attributable to higher accounting fees incurred during the nine months ended March 31, 2012 as the Company’s financial statements for fiscal year ended June 30, 2010 were required to be re-audited on the direction of  the U.S Securities and Exchange Commission following their discovery that our previous auditor, Etania Audit Group P.C. (formerly Davis Accounting Group P.C.) was not licensed  when it issued its audit report on our financial statements for the year ended June 30, 2010.

The increase in sales and marketing expenses for the nine months ended March 31, 2013 compared to the same period in 2012 was primarily attributed to our increased marketing efforts to promote and market Info-Accent's mobile VoIP communications, mobile advertising advertisement and microblogging services in Asia.

Provision for Income Taxes

For the three and nine months ended March 31, 2013, Info-Accent recorded an income tax provision of $54,919 and $116,653, respectively. For the three and nine months ended March 31, 2012, Info-Accent recorded an income tax provision of $49,071 and $126,247, respectively. In March 31, 2013 and 2012, we did not record any tax benefit for the losses incurred in the U.S. by affecting a 100% valuation allowance on the potential benefit as per ASC Topic 740. We will record the tax benefit when we have realized consistent profitability.

Net Income

	For the Three Months Ended
	March 31,
	2013		2012		Increase / (Decrease)		% Increase / (Decrease)
Net Income	$	559,046	$	581,324	$	(22,278)	(4%)
	For the Nine Months Ended
	March 31,
	2013		2012		Increase / (Decrease)		% Increase / (Decrease)
Net Income	$	1,354,469	$	1,338,592	$	15,877	1%

The decrease in net income for the three months ended March 31, 2013 was attributable to higher operating expenses especially in development costs. The increase in net income for the nine months ended March 31, 2013 was attributable to higher revenues.

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Total Comprehensive Income

	For the Three Months Ended
	December 31,
	2013		2012		Increase / (Decrease)		% Increase / (Decrease)
Total Comprehensive Income	$	451,378	$	772,496	$	(321,118)	(42%)
	For the Nine Months Ended
	December 31,
	2013		2012		Increase / (Decrease)		% Increase / (Decrease)
Total Comprehensive Income	$	1,612,730	$	1,313,835	$	298,895	23%

Comprehensive income consists of our net income and other comprehensive income, including gain or loss from foreign currency translation. The functional currency of our Malaysian subsidiary and associate company is  Ringgit Malaysia (“RM”). The financial statements of our subsidiary are translated to U.S. dollar using the exchange rate prevailing as of the date of balance sheet for assets and liabilities, and average exchange rates (for the period) for revenue, costs and expenses. Net gains or losses resulting from foreign exchange transactions are included in the consolidated statements of operations. During the three months ended March 31, 2013, we recorded a foreign currency translation loss of $107,668 compared to a gain of $191,172 during the same period in 2012. For the nine months ended March 31, 2013, we recorded a foreign currency translation gain of $258,261 compared to a loss of $24,757 for the same period during 2012.

Liquidity and Capital Resources

Liquidity is the ability of a company to generate adequate amounts of cash to meet its needs for cash. During the nine months ended March 31, 2013, our operations were primarily funded from internally generated funds. For the nine months ended March 31, 2013, our principal sources of liquidity included cash and cash equivalents of $16,213 compared to $18,655 at June 30, 2012. At nine months ended March 31, 2013, we had a positive working capital of $2,417,636 compared to a working capital deficit of $217,728 at June 30, 2012. The increase in working capital was mainly due to an increase in accounts receivable.

Working Capital

	March 31,	June 30,	Increase /
	2013	2012	(Decrease)
Working Capital
Current Assets	$ 4,575,221	$ 1,391,868	$ 3,183,353
Current Liabilities	2,157,585	1,609,596	547,989
Working Capital (Deficit)	$ 2,417,636	$ (217,728)	$ 2,635,364

Cash Flows

Cash Flows from Operating Activities.  Operating activities used net cash of $85,517 during the nine months ended March 31, 2013 and used net cash of $313,958 during the nine months ended March 31, 2012. Net cash used in operating activities during the nine months ended March 31, 2013 was primarily attributed to an increase in accounts receivable of $3,132,277, increase in deposits and other debtors of $949, noncash adjustments of $1,197,093 and offset by an increase in accounts payable amounting to $1,063,450, decreased accrued liabilities of $567,303 and net income of $1,354,469. Net cash used in operating activities during the nine months ended March 31, 2012 was primarily attributed to an increase in accounts receivable of $207,741, increase in deposits and other debtors of $23,040, noncash adjustments of $758,377 and offset by a decrease in accounts payable amounting to $2,262,052, increased accrued liabilities of $81,906 and net income of $1,338,592.

34

Cash Flows from Investing Activities. Cash used in investing activities during the nine months ended March 31, 2013, of $2,239 resulted from purchase of computers. There was no investing activity during the nine months ended March 31, 2012.

Cash Flows from Financing Activities. Cash generated from financing activities during nine months ended March 31, 2013 of $17,472 resulted from advances by Mohd Aris Bernawi and Valerie Looi.  Cash generated from financing activities during the nine months ended March 31, 2012 of $53,435 resulted from proceeds received from our existing stockholders who exercised their warrants to purchase 53,435 shares of our common stock at an exercise price of $1.00 per share and advances by Mohd Aris Bernawi and Valerie Looi totaling $39,339.

New Accounting Pronouncements

We do not expect the adoption of recently issued accounting pronouncements to have a significant impact on our financial statements, or any of our subsidiaries’ operating results, financial position, or cash flow.

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4.  CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

In connection with the preparation of this Quarterly Report on Form 10-Q, an evaluation was carried out by our management, with the participation of our Chief Executive Officer and our Chief Financial Officer of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended, as of March 31, 2013. Based on that evaluation, our principal executive officer and principal financial officer concluded that our disclosure controls and procedures were effective as March 31, 2013.

Changes in Internal Control Over Financial Reporting

There has been no change in our internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) that occurred during the quarter ended March 31, 2013 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

In the ordinary course of our business we are periodically threatened with or named as a defendant in legal proceedings. As of the end of the period for which this report is filed, there are no pending legal proceedings to which we are a party that management believes to be material to our business, results of operations or financial condition.

ITEM 1A.  RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

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ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The provisions of the Technology License Agreement require GMT to pay a royalty equivalent to one percent (1%) of its gross sales which will be due and payable on or before each anniversary of the effective date of the Technology License Agreement or a minimum royalty payment of $100,000 annually, whichever is the higher. The royalty due to Soon Hock Lim (“SHL”) for the period from January 2012 to December 2012 was $122,685. SHL agreed to accept 815,000 shares of our common stock at $0.15 per share as full payment for the royalty due. On February 25, 2013, we issued 815,000 restricted shares of our common stock to SHL. We relied on the exemption from registration provided by Section 4(2) under the Securities Act of 1933, as amended, in that the offer and sale of the shares was negotiated directly with SHL and did not involve a public offering.

On February 25, 2013, we awarded an aggregate of 480,000 shares of our common stock to our directors and officer at $0.15 per share. We relied on the exemption from registration provided by Section 4(2) under the Securities Act of 1933, as amended, in that the offer and sale of the shares was negotiated directly with our directors and officer and did not involve a public offering.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4.  MINE SAFETY DISCLOSURE [ NOT APPLICABLE]

Not applicable

ITEM 5.  OTHER INFORMATION

None.

ITEM 6.  EXHIBITS

Exhibit Number	Description of Exhibit
31.1	Certification of Principal Executive Officer pursuant to Rule 13a-14 and Rule 15d-14(a), promulgated under the Securities and Exchange Act of 1934, as amended.
31.2	Certification of Principal Financial Officer pursuant to Rule 13a-14 and Rule 15d-14(a), promulgated under the Securities and Exchange Act of 1934, as amended.
32.1	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer).
32.2	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Financial Officer).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Global MobileTech, Inc.
May 14, 2013	By:	/s/ Mohd. Aris Bernawi
		Mohd. Aris Bernawi Chief Executive Officer (Principal Executive Officer)
May 14, 2013	By:	/s/ Hon Kit Wong
		Hon Kit Wong Chief Financial Officer (Principal Financial and Accounting Officer)

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