PINX:INVA Inova Technology Inc Quarterly Report 10-Q Filing - 7/31/2012

Effective Date 7/31/2012

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 10-Q
 
(Mark One)
 
x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
For the quarterly period ended July 31, 2012
 
o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
 
For the transition period from ______________to _____________
 
Commission file number 000-27397
 
INOVA TECHNOLOGY INC.
(Exact name of small business issuer in its charter)
 
Nevada
98-0204280
(State or other jurisdiction of incorporation or
(I.R.S. Employer Identification No.)
organization)
 
 
2300 W. Sahara Ave. Suite 800 Las Vegas, NV 89102
(Address of principal executive offices)
 
89146
(800) 757-9808
(Postal Code)
(Issuer's telephone number)
 
Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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.
 
x Yes o No
 
Indicate by check mark 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).
 
x Yes o 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 definition of “large accelerated filler”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
 
Large accelerated filer o
Accelerated Filer o
Non-accelerated Filer o
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).
 
o Yes x No
 
State the number of shares of outstanding of each of the issuer’s classes of common equity, as of September 12, 2012: 88,688,715
 


 
 

 
 
Inova Technology Inc.
 
Form 10-Q
 
Table of Contents
 
 
 
 

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

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

 
 
INOVA TECHNOLOGY, INC.
 
CONSOLIDATED STATEMENTS OF CASH FLOWS
 
For the quarter ended July 31, 2012 and 2011
 
(Unaudited)
 
             
   
2012
   
2011
 
CASH FLOWS FROM OPERATING ACTIVITIES
           
Net loss
  $ (117,598 )   $ (92,594 )
Adjustments to reconcile net loss to net cash used provided by
               
operating activities:
               
Depreciation expense, $0 and $344,995 included in cost of revenues
    118,347       128,273  
Amortization expense - loan discounts and deferred financing costs
    -       178,500  
Amortization expense - intangible
    -       -  
Paid in kind interest
    18,932       18,088  
Gain on sale of asset
            -  
Gain on debt extinguishment
    -       (87,582 )
Impairment loss
    -          
Stock issued for services
               
Warrants issued for services
    -          
Derivative gain
    (222,942 )     (690,883 )
Changes in operating assets and liabilities:
               
Accounts receivable
    416,405       236,699  
Credit facility receivable
    586,418       (63,335 )
Inventory
    (150 )     (6,840 )
Costs in excess of billing and estimated earnings
    48,511       70,818  
Prepaid expenses and other current assets
    3,897       3,514  
Other assets
    -       2,640  
Accounts payable and accrued expenses
    (699,915 )     294,567  
Deferred revenues
    (11,458 )     (48,966 )
Net cash provided by operating activities of operations
    140,447       (57,101 )
                 
CASH FLOW INVESTING ACTIVITIES
               
  Purchase of fixed assets
    -          
Net cash used in investing activities
    -       -  
                 
CASH FLOW FINANCING ACTIVITIES
               
Proceeds from notes payable
            82,500  
Common stock issued for cash
            10,000  
Repayments made on notes payable
    (14,257 )     (36,313 )
Common stock issued for investment
               
Net cash used in financing activities
    (14,257 )     56,187  
                 
NET CHANGE IN CASH
    126,190       (914 )
CASH AT BEGINNING OF YEAR
    752,011       396,140  
CASH AT END OF YEAR
  $ 878,201     $ 395,226  
                 
SUPPLEMENTAL INFORMATION:
               
Interest paid
    92,271     $ 42,383  
Income taxes paid
  $ 21,904     $ 21,361  
                 
NON-CASH INVESTINGAND FINANCING ACTIVITIES:
               
Common stock issued for conversion of notes payable
    -       25,251  
Purchase of patent with stock
    73,892       -  
Reclassification of derivative liabilities from additional paid-in capital
    -          
Reclassification of put notes from derivative liabilities
    -          
Accrued interest reclassified to related party notes payable
            -  
Common stock issued for settlement of accounts payable
            -  
Discount on notes payable from derivative liabilities
            178,500  
                 
See summary of accounting policies and notes to consolidated financial statements
 
 
 
5

 

INOVA TECHNOLOGY, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
 
NOTE 1 –BASIS OF PRESENTATION
 
The accompanying unaudited interim consolidated financial statements of Inova Technology, Inc. (“we”, “our”, “Inova” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”) and should be read in conjunction with the audited financial statements and notes thereto contained in Inova’s latest Annual Report filed with the SEC on Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the consolidated financial statements that would substantially duplicate the disclosure contained in the audited financial statements for the most recent fiscal year as reported in Form 10-K have been omitted.
 
Fair Value Measurements
 
Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. As defined in ASC 820, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement).
 
As of July 31, 2012, Inova measured its derivative liabilities using Level 3 inputs as defined by ASC 820 with a total fair value of $1,238,323.
 
Reclassifications
 
Certain prior year amounts have been reclassified to conform to the current year presentation.
 
NOTE 2 – GOING CONCERN
 
As shown in the accompanying consolidated financial statements, we have an accumulated deficit and negative working capital and are in default on the majority of our notes payable as of July 31, 2012. These conditions raise substantial doubt as to our ability to continue as a going concern. The consolidated financial statements contained herein do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should we be unable to continue in existence. Our ability to continue as a going concern is dependent upon our ability to generate sufficient cash flows to meet our obligations on a timely basis, to obtain additional financing as may be required, and ultimately to attain profitable operations. However, there is no assurance that profitable operations or sufficient cash flows will occur in the future. Management is trying to raise additional capital through sales of stock and refinancing debt.
 
 
6

 
 
NOTE 3 – RELATED PARTY TRANSACTIONS
 
Note Payable to Southbase, LLC
 
Loans payable from Southbase, LLC consists of advances from existing shareholders. These notes are unsecured, bear interest at 7%, and are due in May 21, 2017. The amount due to Southbase, LLC, a company related to Adam Radly, was $142,532 as of July 31, 2012.
 
Desert Sellers
 
Seller notes with a balance of $1,389,107 relate to the Desert Communications, Inc. (“Desert”) purchase in December of 2007. They have interest rates of 18%, are secured by all of the common stock of Desert Communications, Inc. and were due in December of 2010. The notes are now in default.
 
Trakkers President

Seller notes with a balance of $300,581, to the president of Trakkers, relate to the Trakkers purchase in 2008. They have interest rates of 7-10%, are secured by all of the member units of Trakkers and were due in 2011. The notes are now in default.
 
NOTE 4 - DERIVATIVE LIABILITIES
 
ASC 815-40 Put Warrant Liabilities
 
Under ASC 815-40 “Put Warrants”, warrants for put shares should be classified as liabilities and measured at fair value at the end of each reporting period with the change in fair value recorded to earnings. As a result, the fair value of the warrants granted to Inova’s debt holders in prior years were recorded as derivative liabilities at inception. These liabilities are subsequently measured at fair value at the end of each reporting period with the changes recorded to earnings. As of July 31, 2012, Inova had $201,250 of derivative liabilities as a result of these provisions.
 
ASC 815-15 Conversion Option and Warrant Liabilities
 
During fiscal 2010, Inova determined that the instruments embedded in a convertible put note exercised by one of Inova’s lenders should be classified as liabilities and recorded at fair value due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options.
 
Because the number of shares to be issued upon settlement cannot be determined under these instruments, Inova cannot determine whether it will have sufficient authorized shares at a given date to settle any other of its share-settleable instruments. As a result of this, under ASC 815-15 “Accounting for Derivative Financial Instruments Indexed to and Potentially Settled in, a Company's Own Stock” (formerly EITF 00-19), the conversion options noted above and all other share-settleable instruments are classified as liabilities. Inova has three conversion options embedded in notes payable agreements and 8,839,513 warrants to purchase Inova common stock that are classified as liabilities as a result of the provisions of the convertible put notes. As of July 31, 2012, Inova had $1,037,073 of derivative liabilities as a result of these provisions.
 
 
7

 
 
The following table summarizes the derivative liabilities included in the consolidated balance sheet:
 
Derivative Liabilities
     
Balance at April 30, 2012
  $ 1,461,265  
Extinguishment of derivative liabilities (see Note 8)
       
Addition of derivative liabilities (see Note 8)
       
Change in fair value
    (222,942 )
Balance at July 31, 2011
  $ 1,238,323  
 
Valuation Models
 
Inova values its warrant derivatives and simple conversion option derivatives using the Black-Scholes option-pricing model. Assumptions used include (1) 4% risk-free interest rate, (2) warrant life is the remaining contractual life of the warrants, (3) expected volatility 261% to 390%, (4) zero expected dividends (5) exercise prices as set forth in the agreements, (6) common stock price of the underlying share on the valuation date, and (7) number of shares to be issued if the instrument is converted.
 
Inova valued the conversion options and reset provisions under its convertible put exercise note with Boone using a Monte Carlo simulation model utilizing present value and various probabilities of events. Assumptions used include (1) 0.34% risk free rate, (2) conversion prices as set forth in the agreement, (3) expected Inova stock price volatility of 261%, (4) expected Desert stock price volatility of 25%, and (6) common stock price of the underlying share on the valuation date. Inova valued the note as a combination of the underlying debt payment and series of two options. Since the options are mutually exclusive, the Monte Carlo simulation was used to estimate when either of the options is exercisable. When both are exercisable Inova assumed that the more valuable of the two would be exercised.
 
NOTE 5 –SEGMENT INFORMATION
 
Inova has three reportable segments, one providing management support to the other subsidiaries (Edgetech Services, Inc.), one providing network solutions (Desert Communications, Inc.) and one which manufactures standards compliant and durable RFID (Radio Frequency Identification) equipment (Trakkers, LLC & RightTag, Inc). Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly in deciding how to allocate resources and in assessing performance.
 
The following table presents three month segment information:
   
Trakkers,
   
Desert
             
   
LLC &
   
Communications,
             
   
RightTag,
   
Inc.
   
Corporate
   
Total
 
   
Inc.
                   
Revenues
  $ 299,011       6,177,898       -       6,476,909  
Net income (loss)
    (313,360 )     276,071       (80,309 )     (117,598 )
Total assets
    1,512,731       2,750,335       3,390,554       7,653,320  
 
 
8

 
 
NOTE 6 – WARRANTS
 
The following tables summarize common stock warrants outstanding by entity:
 
               
Weighted
 
               
average
 
       
Weighted
     
remaining
 
Warrants to purchase Inova common
     
average
 
Aggregate
 
contractual
 
stock
 
Warrants
 
exercise price
 
intrinsic value
 
life (years)
 
Outstanding at April 30, 2012
    9,839,513   $ 0.03     77,441     1.57  
Granted
    -     -              
Exercised
    -     -              
Forfeited
    -     -              
Expired
    1,000,000     -              
Outstanding at July 31, 2012
    8,839,513   $ 0.01   $ 37,913    
1.35
 

                 
Weighted
 
                 
average
 
       
Weighted
       
remaining
 
Warrants to purchase Trakkers
     
average
   
Aggregate
 
contractual
 
common stock
 
Warrants
 
exercise price
   
intrinsic value
 
life (years)
 
Outstanding at April 30, 2012
    13.50   $ -   $       2.18  
Granted
    -     -              
Exercised
    -     -              
Forfeited
    -     -              
Expired
    -     -              
Outstanding at July 31, 2012
    13.50   $ -   $      
1.92
 
 
All warrants above were exercisable as of July 31, 2012.
 
 
9

 
 
NOTE 7 – COMMON STOCK
 
During the three months ended July 31, 2012, Inova purchased the intellectual property from Southbase International Limited (“Southbase), a related party due to ownership in Southbase by Inovas CEO.  The intellectual property purchased is a license to use ShopInova, an iPhone application, and its related intellectual property rights.  Inova issued 12,315,270 shares of common stock for the intellectual property, for a total value of $73,892, based on the Inova stock trading price on the closing date.
 
NOTE 8 – DEBT
 
The following table summarizes outstanding debt as of July 31, 2012 and April 30, 2012:
 
   
July 31,
   
April 30,
 
   
2012
   
2012
 
   
Carrying
   
Carrying
 
Lender
 
Amount
   
Amount
 
             
Boone Lenders, LLC
  $ 6,902,108     $ 6,883,176  
Ascendiant Opportunity Fund, LLC
    1,153,930       1,153,930  
Agile Opportunity Fund, LLC
    173,500       173,500  
IBM - Trakkers, LLC
               
                 
Lease Facility
    71,584       70,183  
Desert Communications, Inc. Sellers
    1,389,107       1,389,107  
Trakkers, LLC Sellers
    1,769,686       1,769,686  
Southbase, LLC - Related Party
    142,532       142,532  
                 
Other
    154,000       154,298  
Total
  $ 11,756,447     $ 11,736,412  
 
Of the total outstanding debt, $11,125,175 was in default as of July 31, 2012. Principal owed to Boone Lenders, LLC (“Boone”) increased due to the paid-in kind interest described below.
 
Boone is capitalizing and charging paid in kind interest on several of its notes. Each period, at a rate mutually agreed to by the Company and Boone, interest is recognized on the outstanding principal balance and added to the principal balance of the note. This started in May 2010 for Boone’s notes as a temporary arrangement which can be cancelled at any time. The interest rates range from 11% to 20% on various notes.
 
For the three months ended July 31, 2012, a total of $18,932 of interest was recognized and recorded to the principal balance of loans from Boone.
 
 
10

 
 
Item 2. Management Discussion and Analysis of Financial Condition and Result of Operations.
 
The information contained in this Management’s Discussion and Analysis of Financial Condition and Results of Operation contains “forward looking statements.” Actual results may materially differ from those projected in the forward looking statements as a result of certain risks and uncertainties set forth in this report. Although our management believes that the assumptions made and expectations reflected in the forward looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be materially different from the expectations expressed in this Annual Report. The following discussion should be read in conjunction with the unaudited Consolidated Financial Statements and related Notes included in Item 1.
 
RESULTS OF OPERATIONS FOR THE THREE MONTH PERIOD ENDED JULY 31, 2012
 
Net revenues increased from $5,048,112 in the three-month period ending July 31, 2011 to $6,476,909 for the three-month period ending July 31, 2012. The increase in revenue is due to changes in the timing of various projects in Desert.
 
Cost of sales increased from $3,442,847 in the three-month period ending July 31, 2011 to $4,933,480 for the three-month period ending July 31, 2012. The increase is a result of the revenue increase described above.
 
Operating expenses decreased from $1,704,183 for the three months ending July 31, 2011 to $1,455,336 for the same period in 2012. This was mainly due to the decrease in the loss on transfer of assets.
 
Net loss increased from $92,594 for the three months ending July 31, 2011 to a net loss of $117,598 for the same period in 2012. This is due to  higher cost of sales.
 
LIQUIDITY AND CAPITAL RESOURCES
 
Cash used in operations for the three month period ended July 31, 2011 was $57,101 as compared to cash provided by operations of $140,447 for the three months ended July 31, 2012. Cash used in investing activities for the three month period ended July 31, 2011 and July 31, 2012 was $0. Cash provided by financing activities for the period ended July 31, 2011 was $56,187, as compared to $14,257 used in financing activities for the three months ended July 31, 2012.
 
 
11

 
 
Our operating activities for the three months ended July 31, 2012, have generated adequate cash to meet our operating needs. As of July 31, 2011, we had cash and cash equivalents totaling $878,201, and receivables of $1,708,799.
 
As of the date of the filing the Company is attempting to restructure its debt with Boone and some other creditors. If successful there would be a significant decrease in the current portion of debt outstanding, interest rate reductions and extended maturity dates. If unsuccessful, we will continue to be in default on these loans and incur additional interest expense.
 
EBITDA
 
EBITDA for the 3 month period is $228,969. EBITDA is Earnings before interest, tax, depreciation and amortization:
 
EBITDA
 
31-July-12
 
Net income
    (117,598 )
Interest
    428,632  
Derivative gain
    (222,941 )
Tax
    21,904  
Depreciation/Amortization
    118,972  
EBITDA
    228,969  
 
Item 4. Controls and Procedures
 
(a) Evaluation of disclosure controls and procedures.
 
Management has evaluated, with the participation of our Chief Executive Officer and Chief Financial Officer, the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) as of the end of the period covered by this report and concluded that our disclosure controls and procedures were not effective to ensure that all material information required to be disclosed in this Quarterly Report on Form 10-Q has been made known to them in a timely fashion. We are in the process of improving our internal control over financial reporting in an effort to remediate these deficiencies through improved supervision and training of our accounting staff. These deficiencies have been disclosed to our Board of Directors. We believe that this effort is sufficient to fully remedy these deficiencies and we are continuing our efforts to improve and strengthen our control processes and procedures. Our Chief Executive Office, Chief Financial Officer and directors will continue to work with our auditors and other outside advisors to ensure that our controls and procedures are adequate and effective.
 
(b) Changes in internal controls
 
There have been no significant changes in our internal controls over financial reporting that occurred during the fiscal quarter covered by this report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
 
 
12

 
 
PART II
 
Item 1. Legal Proceedings.
 
None
 
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
 
None
 
Item 3. Defaults Upon Senior Securities
 
Not Applicable.
 
Item 4. Other Information
 
None
 
Item 5. Exhibits
 
(A) Exhibits
 
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
 
 
13

 
 
SIGNATURES
 
In accordance with Section 13 or 15(d) of the Exchange Act, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
Dated: September 17, 2012
By:
/s/ Adam Radly
   
Adam Radly
   
Chief Executive Officer
Dated: September 17, 2012
By:
/s/ Bob Bates
   
Bob Bates
   
Chief Financial Officer
 
 
 
 
 
 
14

PINX:INVA Inova Technology Inc Quarterly Report 10-Q Filling

Inova Technology Inc PINX:INVA Stock - Get Quarterly Report SEC Filing of Inova Technology Inc PINX:INVA stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

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PINX:INVA Inova Technology Inc Quarterly Report 10-Q Filing - 7/31/2012
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