(Exact name of registrant as specified in its charter)

———————


Delaware	0-9951	91-1143622
(State or Other Jurisdiction	(Commission	(I.R.S. Employer
of Incorporation)	File Number)	Identification No.)

C/O Crossfield, Inc., 653 VT Route 12A, PO Box 189, Randolph, VT 05060

(Address of Principal Executive Offices) (Zip Code)

(212) 727-7085

(Registrant’s telephone number, including area code)

C/O Crossfield, Inc., 100 Maiden Lane, Suite 2003, New York, NY 10038

(Former name, former address and former fiscal year, if changed since last report)

Securities registered under Section 12(g) of the Exchange Act: Common Stock, par value $.01per share

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No þ Indicate by check mark if the registrant is not required to file reports pursuant to section 13 or Section 15(d) of the Act. Yes o No þ Indicate by check 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 þ No o 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 (§ 229.405 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 þ No o Indicate by check mark if disclosure of delinquent filers in response to Item 405 of Regulation S-K(§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. Yes o No þ 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", "an accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer	o	Accelerated Filer	o
Non Accelerated Filer ~~(Do not check if a smaller reporting company)~~	o	Smaller Reporting Company	þ
Emerging Growth Company ¨ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act. Check one: Yes o No þ Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the last practicable date: As of ~~May 03,~~October 30, 2017, there were 2,292,945 issued and outstanding shares of the registrant's Common Stock, ~~$0.01~~$.01 par value. Documents incorporated by reference: None.

ADVANCED OXYGEN TECHNOLOGIES, INC.

Table of Contents

		INDEX
PART I
	Item I: Financial Statements (unaudited)		Page
		Consolidated Balance Sheet as of ~~March 31,~~September 30, 2017 (unaudited) and June 30, ~~2016~~2017	1
		Unaudited Consolidated Statement of Operations and Other Comprehensive Income (Loss) for the three months ~~and nine months~~ ended ~~March 31,~~September 30, 2017 and ~~March 31,~~September 30, 2016	3
		Unaudited Consolidated Statement of Cash Flow for the ~~nine~~three months ended ~~March 31,~~September 30, 2017 and ~~March 31,~~September 30, 2016	4
		Notes to the Consolidated Financial Statements	5
			6
	Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations		11
	Item 3: Quantitative and Qualitative Disclosures about Market Risk		16
	Item 4: Controls and Procedures		16
PART II
	Item 1: Legal Proceedings		18
	Item 2: Unregistered Sales of Equity Securities and Use of Proceeds		18
	Item 3: Defaults Upon Senior Securities		18
	Item 4: Mine Safety Disclosures		18
	Item 5: Other Information		18
	Item 6. Exhibits and Reports on Form 8-K		18
Signature			19
EXHIBIT 31.1, 31.2 Certifications of Officers			EX 31
EXHIBIT 32.1, 32.2 Certifications of Officers			EX 32
EXHIBIT 101.INS XBRL Instance			EX 101.INS
EXHIBIT 101.SCH XBRL Taxonomy Extension Schema Document			EX 101.SCH
EXHIBIT 101.CAL XBRL Taxonomy Extension Calculation Document			EX 101.CAL
EXHIBIT 101.DEF XBRL Taxonomy Extension Definition Document			EX 101.DEF
EXHIBIT 101.LAB XBRL Taxonomy Extension Labels Document			EX 101.LAB
EXHIBIT 101.PRE XBRL Taxonomy Extension Presentation Document			EX 101.PRE

PART 1: FINANCIAL INFORMATION

Item I: Consolidated Financial Statements for the ~~nine~~three months ending ~~March 31,~~September 30, 2017 (unaudited).

ADVANCED OXYGEN TECHNOLOGIES, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS	ADVANCED OXYGEN TECHNOLOGIES, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS							ADVANCED OXYGEN TECHNOLOGIES, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS


		March 31,			June 30,				As of September 30, 2017 (unaudited)			As of June 30, 2017
ASSETS		2017			2016
		(unaudited)
CURRENT ASSETS
Cash		$	45,329		$	46,170			$	46,107		$	50,331
Property Tax Receivable			1,145			1,173				1,263			1,221
Total Current Assets			46,474			47,343				47,370			51,552

FIXED ASSETS
Land			580,655			595,280
Land and buildings										640,868			619,592
TOTAL ASSETS		$	627,129		$	642,623			$	688,238		$	671,144

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts Payable		$	2,300		$	2,599			$	1,250		$	1,405
Taxes Payable			22,093			24,028				30,733			30,389
Notes Payable, Current Portion			150,302			150,887
Note Payable, Current Portion										151,830			153,638
Advances From a Related Party			95,391			78,262				102,278			96,725
Total current liabilities			270,086			255,776				286,091			282,157

Notes Payable			100,626			122,609				97,776			98,760

Total Long Term Liabilities			100,626			122,609				97,776			98,760

Total Liabilities			370,712			378,385				383,867			380,917

STOCKHOLDERS' EQUITY
Convertible preferred stock, Series 2, par value $0.01; authorized 10,000,000 shares; 5,000 shares issued and outstanding at March 31, 2017 and June 30, 2016, respectively			50			50
STOCKHOLDERS' EQUITY-
Convertible preferred stock, Series 2, par value $0.01; authorized 10,000,000 shares; issued and outstanding 5,000 At September 30, 2017 and June 30, 2017										50			50

Convertible preferred stock, Series 3, par value $0.01; 1,670,000 shares authorized, 0 shares issued and outstanding, respectively			-			-
Convertible preferred stock, Series 3, par value $0.01; authorized, 1,670,000 shares issued and outstanding										-			-

Convertible preferred stock, Series 5; no par value, 1 share authorized, 0 shares issued and outstanding, respectively			-			-
Convertible preferred stock, Series 5; no par value, 1 share authorized, 0 shares issued and outstanding, respectively.										-			-

Common stock, par value $0.01; 60,000,000 shares authorized, 2,292,945 shares issued and outstanding, respectively			22,929			22,929
Common stock, par value $0.01; At September 30, 2017 and June 30, 2017, authorized 60,000,000 shares; issued and outstanding 2,292,945 shares.										22,929			22,929

Additional paid-in capital			20,953,991			20,953,991				20,953,991			20,953,991

Accumulated Other Comprehensive Income			21,605			27,085
Other Comprehensive Income										70,331			53,065

Accumulated deficit			(20,742,158	)		(20,739,817	)			(20,742,930	)		(20,739,808	)

TOTAL STOCKHOLDERS' EQUITY			256,417			264,238
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	627,129		$	642,623
TOTAL STOCKHOLDERS EQUITY										304,371			290,227
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY									$	688,238		$	671,144

See accompanying notes to condensed Consolidated Financial Statements.

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ADVANCED OXYGEN TECHNOLOGIES, INC.
AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS)
(Unaudited)

For the Three Months Ended March 31,

For the Nine Months Ended March 31,

2017

2016

2017
2016

Sales

$ 8,806

$ 9,104

$ 26,792 $ 27,219

Cost and Expenses

General and Administrative

2,158

5,479

5,785
6,710
Professional Expenses

2,000

275 14,023 6,418

4,158

5,754 19,808 13,128

Income (loss) from Operations

4,648

3,350

6,984 14,091

Other Income (Expense):

Interest expense, net

(1,551
)

(2,046
)
(5,027
)
(6,378
)

Income Before Income Taxes

3,097

1,304

1,957

7,713

Provision for Income Taxes

1,059

- 4,298 -

Net Income (Loss)

2,038

1,304
(2,341 )
7,713

Net Income (Loss) Per Share:

Basic

$ 0.0009

$ 0.0006 $ (0.0010 ) $ 0.0034
Diluted

$ 0.0009

$ 0.0006 $ (0.0010 ) $ 0.0034

Weighted Average Shares Outstanding
Basic
2,292,945 2,292,945 2,292,945 2,292,945
Diluted
2,302,945 2,302,945 2,292,945 2,302,945

COMPREHENSIVE INCOME

Other Income (Loss)

Translation Adjustments

$ 6,159

$
632 $ (5,480 ) $ (11,007 )
Total Comprehensive Income (Loss)

$ 8,197

$ 1,936 $ (7,821 ) $ 3,294

ADVANCED OXYGEN TECHNOLOGIES, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

	For the three months ended September 30,
	2017			2016
Revenues

Real Estate Rentals	$	9,704		$	9,149

Total Revenues	$	9,704		$	9,149

Costs and Expenses
General & Administrative		1,234			2,062
Professional expenses		7,500			4,000
Transfer Agent Expense		750			-
Total Operating Expenses		9,484			6,062

Income (Loss) from operations before other income (expenses)		220			3,087
Other income (expenses)
Interest Expense		(1,690	)		(1,010	)
Income before Income Taxes		(1,470	)		2,077

Income Taxes Benefit (Expense)		(1,652	)		(164	)

NET INCOME(LOSS)	$	(3,122	)	$	1,913

Basic average weighted number of common shares outstanding		2,292,945			2,292,945
Diluted average weighted number of common shares		2,292,945			2,302,945
Basic Net Income per Share	$	(0.0014	)	$	0.0008
Dilutive Net Income per Share	$	(0.0014	)	$	0.0008

COMPREHENSIVE INCOME
Other Income (Loss)
Translation Adjustments	$	17,266			17,219
Total Comprehensive Income	$	14,144		$	19,132

See accompanying notes to condensed Consolidated Financial Statements.

Return to Table of Contents

ADVANCED OXYGEN TECHNOLOGIES, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)	ADVANCED OXYGEN TECHNOLOGIES, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)							ADVANCED OXYGEN TECHNOLOGIES, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

		For the Nine Months Ended March 31,							For the Three Months Ended September 30,
		2017			2016				2017			2016
Cash flows from operating activities
Net income		$	(2,341	)	$	7,713			$	(3,122	)	$	1,913
Adjustments to reconcile net income to net cash

Expenses paid for on behalf of the Company										9,155			-
Changes in operating assets and liabilities
Accounts payable			(300	)		586				(155	)		2,024
Taxes payable			4,757			(27,827	)			(695	)		(514	)

Net cash provided by (used in) operating activities			2,116			(19,528	)			5,183			3,423

Cash flow from financing activities:
Proceeds from:
Advances from related parties			17,442			16,169
Borrowing from officer-director													2,000

Proceeds used for:
Long Term Debt repayment			(19,265	)		(18,197	)

Long Term Debt										(11,100	)		(7,377	)
Net cash provided by financing activities			(1,823	)		(2,748	)			(11,100	)		(5,377	)

Effect of exchange rate changes on cash			(1,005	)		-
Change due to FX Translation										1,693			1,126

Net Decrease in Cash			(712	)		(22,276)	)			(4,224	)		(828	)


Cash at beginning of the period		$	46,170		$	68,260			$	50,331		$	46,170
Cash at end of period		$	45,458		$	45,983			$	46,107		$	45,342

Non Cash Investing and Financing Activities
Cash paid for Interest			5,027			6,378				1,690			1,010

See accompanying notes to condensed Consolidated Financial Statements.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, SEPTEMBER 30, 217

NOTE 1- ORGANIZATION AND LINE OF ~~BUSINESS:~~BUSINESS

Organization and Basis of Presentation:

The accompanying unaudited interim condensed consolidated financial statements of Advanced Oxygen Technologies, Inc. (“Group” or the “Company”) have been prepared by management in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all information and footnotes required by generally accepted accounting principles for annual audited financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included.

The results of operations for the ~~nine~~three months ended ~~March 31,~~September 30, 2017 are not necessarily indicative of the results to be expected for the year ending June 30, ~~2017.~~2018. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes related thereto for the years ended June 30, ~~2016~~2017 and ~~2015~~2016 included in Form 10-K filed with the SEC.

Lines of Business:

The Company, through its wholly owned subsidiary Anton Nielsen Vojens ApS ~~("ANV")~~ owns income producing commercial real estate leased until 2026. The real estate consists solely of the land with no buildings or improvements (“Land”). All improvements on the Land are those of the tenant.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

Revenue recognition of rental income:

Revenues are recognized during the period in which the rental payment is received. The Company applies the provisions of FASB Accounting Standards Codification ('ASC') 605-10. Revenue Recognition in Financial Statements ASC 605-10, which provides guidance on recognition, presentation, and disclosure of revenues in financial statements filed with the SEC.

The Company's source of revenue is from a commercial property lease in which quarterly payments are received pursuant to the property lease which is in effect until 2026.

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Property Plant and Equipment:

Land and buildings are recognized at cost. Land is carried at cost less accumulated impairment losses.

~~Impairment of Real Estate Investments:~~

The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate investments may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate investments may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of its real estate investments through its undiscounted future cash flows and the eventual disposition of the investment. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of its real estate investments, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of its real estate investments.

~~Return to Table of Contents~~

Foreign ~~Currency Translation:~~currency translation:

Foreign currency transactions are translated applying the current rate method. Assets and liabilities are translated at current rates. Stockholders' equity accounts are translated at the appropriate historical rates and revenue and expenses are translated at weighted average rates for the year. Exchange rate differences that arise between the rate at the transaction date and the one in effect at the payment date, or at the balance sheet date, are recognized in the income statement.

Income Taxes:

The Company accounts for income taxes under the asset and liability method of accounting. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is required when it is less likely than not that the Company will be able to realize all or a portion of its deferred tax assets. Because it is doubtful that the net operating losses of recent years will ever be used, a valuation allowance has been recognized equal to the tax benefit of net operating losses generated.

Net Earnings per Share:

Basic earnings per share is computed by dividing income available to common shareholders by the weighted-average number of common shares available. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As of ~~March 31,~~September 30, 2017 and ~~March 31,~~September 30, 2016 there were 10,000 and 10,000 potential dilutive shares ~~respectively,~~that need to be considered as common share equivalents and because of the net loss, ~~for the nine months period ending March 31, 2017 the dilutive shares were excluded from the Diluted EPS calculation as~~ the effect of these potential common shares is ~~anti-dilutive.~~anti-dilutive for September 30, 2017.

Cash and Cash Equivalents:

For purposes of the statement of cash flows, the Company considers all highly-liquid investments purchased with original maturities of three months or less to be cash equivalents.

The Company maintains its cash in bank deposit accounts which, at ~~March 31,~~September 30, 2017 did not exceed federally insured limits. The Company has not experienced any losses in such accounts and believes that it is not exposed to any significant credit risk on such amounts.

Estimates:

The preparation of 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 and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates.

Concentrations of Credit Risk:

Financial instruments that potentially subject the Company to major credit risk consist principally of a single subsidiary of Anton Nielsen Vojens ApS.

~~Reclassification:~~

~~Certain balances in previously issued financial statements have been reclassified to be consistent with the current period presentation.~~

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Recently Issued Accounting Standards:

In September 2017, FASB issued ASU No. 2017-01 – Business Combinations (Topic 805): Clarifying the Definition of a Business. The issuance is to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, and consolidation. It is effective for annual periods beginning after December 15, 2017, including interim periods within those periods. We do not expect that the adoption of ASU 2017-02 will have any impact on our consolidated financial statements.

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers (Topic 606).” ASU 2014-09 completes the joint effort by the FASB and International Accounting Standards Board (IASB) to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards (IFRS). Subsequently, the FASB has issued several additional ASUs to clarify the implementation. The new revenue standard applies to all companies that enter into contracts with customers to transfer goods or services and is effective for public entities for interim and annual reporting periods beginning after December 15, 2017. We will adopt the new revenue standard effective January 1, 2018. Entities have the choice to apply the new revenue standard either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying the new revenue standard at the date of initial application and not adjusting comparative information. We expect to adopt the new revenue standard using the cumulative effect transition method.

In May 2017, the FASB issued ASU 2017-09, "Stock Compensation (Topic 718): Scope of Modification Accounting." ASU 2017-09 provides clarity and reduces complexity in applying the guidance in Topic 718 to a change to the terms or conditions of a share-based payment award. The new standard will be effective for all entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The Company is in the process of evaluating the impact of this new guidance.

In February 2016, the FASB issued ASU No. 2016-02 - Leases (Topic 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either financing or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. The standard is effective on January 1, 2019, however early adoption is permitted. The Company is in the process of evaluating the impact of this new guidance.

In February 2015, the FASB issued Accounting Standards Update No. 2015-02 (ASU 2015-02) "Consolidation (Topic 810): Amendments to the Consolidation Analysis." ASU 2015-02 changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. It is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. We do not anticipate that the adoption of ASU 2015-02 will have any impact on our consolidated financial statements.

Other recent accounting pronouncements issued by the FASB did not or are not believed by management to have a material impact on the Company's present or future financial statements.

NOTE 3 - MAJOR CUSTOMER:

The Company's subsidiary, Anton Nielsen Vojens, ApS has sales to major customers who were non related parties. For the period ending ~~March 31,~~September 30, 2017, and ~~March 31,~~September 30, 2016 the major customer concentrations were as follows:

	Percent of Sales for the Period ending March 31,						Percent of Sales for the Period ending September 30,
Customer	2017			2016			2017			2016
Circle K Denmark A/S, Formerly StatOil A/S		100	%		100	%
Circle K Denmark A/S, Formerly Statoil A/S								100	%		100	%
-		-			-			-			-

Total Sales from Major Customers		100	%		100	%		100	%		100	%

NOTE 4 - ~~LAND:~~LAND AND BUILDINGS :

The Land owned by the Company's wholly owned subsidiary constitutes the largest asset of the Company. ~~As of March 31,~~During the 3 month period ending September 30, 2017 the ~~difference~~Company recorded an increase in the ~~Land's~~ carrying value ~~as recorded on~~of the ~~balance sheet amounting to $(14,625) is solely~~Land of $21,276 due to the currency translation difference. The carrying value of the Land of the Company was as follows:

Carrying Value of Land at

March 31, 2017

June 30, 2016

US Dollars

$ 580,655

$ 595,280

	Carrying Value of Land at
	September 30, 2017		June 30, 2017

US Dollars	$	640,868	$	619,592

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NOTE 5 - RELATED PARTY TRANSACTIONS:

Advances payable to Crossfields, Inc., a company that the CEO, Robert Wolfe is an officer and director, ~~has made advances to the Company~~ which are not collateralized, non-interest bearing, and payable upon demand, however, the Company did not expect to make payment within one year. AsDuring the three month period ended September 30, 2017 had a balance of ~~March 31, 2017,~~$102,278 and the ~~amount due~~CEO paid $9,155 of Company expenses and was repaid $4,057 for a net advance to ~~Crossfields~~the Company of $5,553. During the three month period ended September 30, 2016 the Company and $80,563 and was ~~$95,391. Crossfields~~ advanced ~~an additional $17,443 during the nine months ended March 31, 2017~~$2,000 to meet expenses.

~~Return to Table of Contents~~

Advances payable to Crossfields, Inc., a company that the CEO, Robert Wolfe is an officer and director, which are not collateralized, non-interest bearing, and payable upon demand, however, the Company did not expect to make payment within one year. During the 3 months ended September 30, 2016 and September 30, 2015 the Company had a balance of $80,563 and was advanced $2,301 and $63,423 and was advanced $2,425 respectively, from affiliates and officers to meet expenses. The balances were not collateralized, were non-interest bearing and were payable on demand.

NOTE 6 - NOTES PAYABLE:

The Company issued a promissory note ("Note") for $650,000, payable to the Borkwood Development Ltd, a previous shareholder of the Company ("Seller"), payable and amortized monthly and carrying an interest at 5% per year. The Company has the right to prepay the note at any time with a notice of 14 days. To secure the payment of principal and interest the Sellers will receive a perfect lien and security interest in the Shares in the company ANV until the note with accrued interest is paid in ~~full,~~full., and, 2) In the case that the Note has not been repaid within 12 months from the day of closing the Sellers have the right to convert the debt to common stock of Advanced Oxygen Technologies, Inc. in an amount of non diluted shares calculated on the conversion Date, equal to the lesser of : a) Six hundred and Fifty thousand (650,000) or the Purchase Price minus the principal payments made by the buyer, whichever is greater, divided by the previous ten day closing price of AOXY as quoted on the national exchange, or b) Fifteen million shares, whichever is lesser. The Note has been extended until July 1, ~~2017~~2018 and interest waived through the period ending ~~June 30, 2017.~~July 1, 2018. The balance on the note as of ~~March 31,~~September 30, 2017 and June 30, ~~2016~~2017 was $127,029.

The Company has a note payable with a bank. The original amount of the note was kr 800,000 Danish Krone (kr) ("Note A"). The note is secured by the revenues of the lease with Circle K Denmark A/S, formerly Statoil, with a 7.00% interest rate and ~~1.25~~0.75 years left on the term. The balance on the note as of ~~March 31,~~September 30, 2017 was ~~$12,357.~~$8,196. The Company made principal payments of ~~$7,256~~$2,721 and interest payments of ~~$992.~~$286. The value of the note reflect the currency adjustments. The ~~paragraph~~table below summarizes the company's commitments going forward.

The Company has a note payable with a bank ("Note B"). The original amount of Note B was kr 1,132,000 Danish Krone (kr). Note B is secured by the subsidiary's real estate, with a 2.00% interest rate and ~~6.75~~6.25 years left on the term. The balance on the note as of ~~March 31,~~September 30, 2017 was ~~$111,542.~~$123,131. During the period ended ~~March 31,~~September 30, 2017, the Company paid ~~$11,714~~$4,374 in principal payments and ~~$4,029~~$1,404 in ~~interest payments.~~interest. The table below summarizes the company's commitments going forward.

The Company's ~~debt obligations at March 31, 2017~~commitments and ~~June 30, 2016 are:~~contingencies are $151,830 for 2018 and $22,161 for the years 2019 through 2025 with a total of $249,606. The amounts stated reflect the Company's commitments in the currencies that those commitments were made and the amounts are an estimate of what the US dollar amount would be if the currency rates did not change going forward.

March 31,

June 30,

2017

2016

Bank Loans

$ 123,899

$ 146,467

Borkwood Development Ltd

127,029

127,029

Total Debt

250,928

273,496

Less Current Portion of Debt

(150,302)

(150,887)

Long-Term portion of Debt

$ 100,626

$ 122,609

The Company has minimum yearly bank payments of ~~$31,796~~$24,802 for ~~1.25~~0.75 years, and ~~$20,892~~$16,606 thereafter for another 5.5 years.

The amounts stated in this note reflect the Company's commitments in the currencies that those commitments were made and the amounts are an estimate of what the US dollar amount would be if the currency rates did not change going forward.

The Company is authorized to issue 10,000,000 shares of $0.01 par value preferred stock. The Company may issue any class of preferred shares in series. The board of directors has the authority to establish and designate series and to fix the number of shares included in each such series.

Each Series 2 preferred share is convertible into two shares of common stock at the option of the holder. Each Series 2 preferred share also includes one warrant to purchase two common shares for $5.00. The warrants are exercisable over a three-year period. In the event of the liquidation of the Company, holders of Series 2 preferred stock would be entitled to receive $5.00 per share, plus any unpaid dividends declared on the Series 2 preferred stock from the funds remaining after the Company's creditors, including directors, have been paid. There have been no dividends declared. During November 1997, 172,000 shares of Series 2 preferred stock were converted into 344,000 shares of the Company's common stock. As of ~~March 31,~~September 30, 2017, there were 5,000 shares issued, which are convertible into 2 common shares. There are no warrants outstanding that have been issued in connection with the preferred shares.

Each share automatically converts on March 2, 2000 into either (a) one (1) share of the Company's common stock if the average closing price of the common stock during the ten trading days immediately prior to March 1, 2000 is equal to or greater than sixty-six cents ($0.66) per share, or (b) one and one-half (1 1/2) shares of common stock if the average closing price of the common stock during the ten trading days immediately prior March 1, 2000 is less than sixty-six cents ($0.66) per share.

The shares are collectively convertible to common stock of the Company on March 5, 2004, in an amount equal to the greater of ~~a.)~~a) 290,000 shares divided by the ten day closing price, prior to the date of acquisition of IPS, of the Company's common stock as quoted on the national exchange and not to exceed twenty million shares, or ~~b.)~~b) six million shares.

In accordance with ASC 855-10, Company management reviewed all material events through the date of this report. There are no material subsequent events to report.

ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF ~~FINANCIAL CONDITION AND RESULTS OF OPERATIONS.~~OPERATION.

The following should be read in conjunction with our Consolidated Financial Statements and the notes thereto included in the Financial Statements.

Certain statements contained in this report, including statements concerning the Company's future and financing requirements, the Company's ability to obtain market acceptance of its products and the competitive market for sales of small production business' and other statements contained herein regarding matters that are not historical facts, are forward looking statements; actual results may differ materially from those set forth in the forward looking statements, which statements involve risks and uncertainties, including without limitation to those risks and uncertainties set forth in any of the Company's Registration Statements under the heading "Risk Factors" or any other such heading. In addition, historical performance of the Company should not be considered as an indicator for future performance, and as such, the future performance of the Company may differ significantly from historical performance.

RESULTS OF OPERATIONS FOR THE THREE ~~AND NINE~~ MONTH ~~PERIODS~~PERIOD ENDING ~~MARCH 31,~~SEPTEMBER 30, 2017 COMPARED TO 2016:

Revenues: Revenues from operations for the three month period ending ~~March 31,~~September 30, 2017 and ~~March 31,~~September 30, 2016 were ~~$8,806~~$9,704 and ~~$9,104 respectively, and the revenues from operations for the nine month period ending~~ ~~March 31, 2017 and March 31, 2016~~ ~~were $26,792 and $27,219~~$9,149 respectively. They were attributable to operations of the Company's wholly owned subsidiary Anton Nielsen Vojens. The ~~fluctuations were~~fluctuation was due to currency ~~fluctuations, as the revenues were the same for both comparative periods.~~fluctuations.

Selling, general and administrative expenses: G&A expenses for the three month period ending ~~March 31,~~September 30, 2017 and ~~March 31,~~September 30, 2016 were ~~$2,158~~$1,234 and ~~$5,479 respectively and the G&A expenses for the nine month period ending~~ ~~March 31, 2017 and March 31, 2016~~ ~~were $5,785 and $6,710~~$2,062 respectively. The expenses are attributable to ANV's ~~operations, the Company's SEC compliance and the new engagement of independent auditors.~~operations.

Interest expense: Interest expense for the three month period ending ~~March 31,~~September 30, 2017 and ~~March 31,~~September 30, 2016 was ~~$1,551~~$1,690 and ~~$2,046 respectively and the interest expense for the nine month period ending~~ ~~March 31, 2017 and March 31, 2016~~ ~~was $5,027 and $6,378~~$1,010 respectively. ~~The changes in interest~~Interest expenses for ~~2017~~2016 are lower primarily due to the currency fluctuations and the reduction of debt.

Net income (loss) attributed to common stockholders: Net income (loss) attributed to common stockholders was ~~$2,038~~$(3,122) or ~~$0.0009~~$(0.0014) per share for the three month period ending ~~March 31,~~September 30, 2017 as compared to ~~$1,304~~$1,913 or ~~$0.0006~~$0.0008 per share for March 31, 2016. Net income (loss) attributed to common stockholders was $(2,341) or $(0.0010) per share for the nine month period ending March 31, 2017 as compared to $7,713 or $0.0034 per share for March 31, 2016. The net income wasSeptember 30, 2016 and mainly attributable to the Company's ~~subsidiary's operations~~auditors and currency fluctuations.

Liquidity and capital resources: At ~~March 31,~~September 30, 2017 and June 30, ~~2016,~~2017, the Company had cash and cash equivalents of ~~$45,329~~$46,107 and ~~$46,170~~$50,331 respectively. At ~~March 31,~~September 30, 2017 and June 30, ~~2016,~~2017, the Company had a working capital deficit of ~~$223,612~~$238,721 and ~~$208,433~~$230,605 respectively. The change in cash is primarily associated with currency fluctuations, and the decrease in the working capital deficit is primarily due to payment of debt and normal operations.

Net cash provided from (used for) operating activities for ~~nine~~three month period ending ~~March 31,~~September 30, 2017 and ~~March 31,~~September 30, 2016 was ~~$2,116~~$5,183 and ~~$(19,528),~~$3,423, respectively. The net cash used by operating activities was primarily due to the operations of ANV, ~~and~~ the payment of ANV taxes ~~from 2015.~~and expenses paid for on behalf of a related party.

Net cash provided from (used for) financing activities for ~~nine month~~three months period ending ~~March 31,~~September 30, 2017 and ~~March 31,~~September 30, 2016 was ~~$(1,823)~~$(11,100) and ~~$(2,748)~~$(5,377) respectively. Net cash provided from or used for financing activities for both periods is related to the company's borrowings from banks, officers and directors, and the repayment of debt.

The Company continues its efforts to raise capital to support operations and growth, and is actively searching acquisition or merger with another company that would complement ~~the Company~~AOXY or increase its earnings potential. During this period, the Company has been in discussion with Companies looking to be acquired. ~~The Company~~AOXY has not negotiated any terms nor proposed any acquisitions of any of these companies that have been accepted. In addition, the Company is in discussion with potential lending institutions to assist in financing any proposed acquisition. The Company expects difficulty in financing the growth of the increased business or acquisition and has been concentrating on raising capital and/or obtaining a line of credit.

Smaller reporting companies are not required to provide the information required by this Item.


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

For the quarterly period ended: ~~March 31,~~September 30, 2017
Or

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

For the transition period from: _____________ to _____________

Exhibit Number		Description of the Document
3.1		Certificate of Incorporation as Amended and filed with the Secretary of State of Delaware effective on December 5, 2014(1)
3.2		Bylaws.(1)
31.1		Certification of Chief Executive Officer pursuant to Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of Chief Financial Officer pursuant to Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of Chief Executive Officer in accordance with 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 in accordance with 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS		XBRL Instance
101.SCH		XBRL Taxonomy Extension Schema Document
101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		XBRL Taxonomy Extension Labels Linkbase Document
101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

ADVANCED OXYGEN TECHNOLOGIES, INC. AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS) (Unaudited)

	For the Three Months Ended March 31,						For the Nine Months Ended March 31,
	2017			2016			2017			2016

Sales	$	8,806		$	9,104		$	26,792		$	27,219

Cost and Expenses
General and Administrative		2,158			5,479			5,785			6,710
Professional Expenses		2,000			275			14,023			6,418
		4,158			5,754			19,808			13,128

Income (loss) from Operations		4,648			3,350			6,984			14,091

Other Income (Expense):

Interest expense, net		(1,551	)		(2,046	)		(5,027	)		(6,378	)

Income Before Income Taxes		3,097			1,304			1,957			7,713

Provision for Income Taxes		1,059			-			4,298			-

Net Income (Loss)		2,038			1,304			(2,341	)		7,713

Net Income (Loss) Per Share:
Basic	$	0.0009		$	0.0006		$	(0.0010	)	$	0.0034
Diluted	$	0.0009		$	0.0006		$	(0.0010	)	$	0.0034

Weighted Average Shares Outstanding
Basic		2,292,945			2,292,945			2,292,945			2,292,945
Diluted		2,302,945			2,302,945			2,292,945			2,302,945

COMPREHENSIVE INCOME
Other Income (Loss)
Translation Adjustments	$	6,159		$	632		$	(5,480	)	$	(11,007	)
Total Comprehensive Income (Loss)	$	8,197		$	1,936		$	(7,821	)	$	3,294

	Carrying Value of Land at
	March 31, 2017		June 30, 2016

US Dollars	$	580,655	$	595,280

	March 31,		June 30,
	2017		2016
Bank Loans	$	123,899	$	146,467
Borkwood Development Ltd		127,029		127,029
Total Debt		250,928		273,496

Less Current Portion of Debt		(150,302)		(150,887)

Long-Term portion of Debt	$	100,626	$	122,609