AeroMechanical ServicesAGM: June 2, 2011

Disclaimer

Forward Looking StatementsThis discussion includes certain statements that may be deemed “forward-looking statements” that are subject to risks and uncertainty. All statements, other than statements of historical facts included in this discussion, including, without limitation, those regarding the Company’s financial position, business strategy, projected costs, future plans, projected revenues, objectives of management for future operations, the Company’s ability to meet any repayment obligations, the use of non-GAAP financial measures, trends in the airline industry, the global financial outlook, expanding markets, research and development of next generation products and any government assistance in financing such developments, foreign exchange rate outlooks, new revenue streams and sales projections, cost increases as related to marketing, research and development (including afirs 228), administration expenses, and litigation matters, may be or include forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on a number of reasonable assumptions regarding the Canadian, U.S., and global economic environments, local and foreign government policies/regulations and actions and assumptions made based upon discussions to date with the Company’s customers and advisers, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include production rates, timing for product deliveries and installations, Canadian, U.S., and foreign government activities, volatility of the aviation market for the Company’s products and services, factors that result in significant and prolonged disruption of air travel worldwide, U.S. military activity, market prices, foreign exchange rates, continued availability of capital and financing and general economic, market, or business conditions in the aviation industry, worldwide political stability or any effect those may have on our customer base. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to have been correct. The Company cannot assure investors that actual results will be consistent with any forward-looking statements; accordingly, readers should not place undue reliance on forward‑looking statements. The forward-looking statements contained herein are current only as of the date of this document. The Company disclaims any intentions or obligation to update or revise any forward-looking statements or comments as a result of any new information, future event or otherwise, unless such disclosure is required by law.

www.flyht.com AMA : TSX-V

Snapshot of 2010

• Expanded gross margin

• Hawker Beechcraft Corporation

• Operations Command Centre in Nigeria

• Strengthened balance sheet: $6.4 million financing

• Real-time data streaming demonstration for OPTIMI

• Progress in China

Investment Highlights

1. Unique line of patented products and services

2. AFIRSTM key industry differentiator moving to next generation

3. Strategic alliances with industry sector leaders

4. Increasing customer growth in flights, hours and aircraft types

5. Recurring long-term revenue stream from installed base

6. High regulatory barriers to entry

Unique line of patented products and services

FLYHTStreamTM

AFIRSTM 220 & 228

• Satellite Communications

• Flight Following• Real-time data

UpTimeTM

Web hosted delivery system

FLYHTTM Fuel

Management System

Fuel Initiative Reporting

System Tracker (FIRST)

Next generation: AFIRS 228

• Future Ready

•Air Traffic Services /Safety Services

•Aircraft Communications Addressing and Reporting System (“ACARS”) over Iridium

• Timely transmission of key information

• Remote troubleshooting of aircraft

• Remotely programmable

• Multiple modes of communication

228 Development

• First Supplemental Type Certificate (“STC”) for “provisions”

• AFIRS 228 flight test in May 2011

228 Development

• Next milestone – qualification testing

• Boeing 777 STC

• First production release Q3 2011

• Safety services version Q2 2012

Marketing the 228

• Firm orders in hand for 25+ units

• Answering market need for:

•2015 regulatory compliance

•Multi-mode data communication

•Iridium safety services- global coverage

• Campaigns targeted to market segments

• Manufacturer request for proposals

• Trade media exposure

Growing the business

Financials

* AMA defines cash revenue for accounting purposes (“GAAP”) plus payments received for AFIRS shipments that cannot yet be recognized for accounting purposes.

  2010 2009 2008 2007

Revenue (GAAP) $5.0 $5.1 $3.2 $2.0

Revenue (cash) * 6.1 7.5 5.3 2.6

Net Loss (9.1) (4.5) (8.5) (6.9)

Loss (before R & D) (4.3) (4.0) (7.8) (6.6)

Loss/Share(basic & fully diluted) $(0.09) $(0.05) $(0.11) $(0.11)

Assets 11.0 11.8 6.0 6.3

Long Term Financial Liabilities $2.4 $0.3 $0.3 $0.4

In $ millions except for per share amounts

Financial Position

• Completed two private placements December 2010: $6 million

• Q1 2011 Industry Canada Strategic Aerospace Defense Initiative (“SADI”) loan $1.96 million

Q1 2011

• Increased Cash Revenue

• Decreased Net Loss

Q1 2011 Q1 2010

Cash Revenue $1,373,781 $1,267,676

Net Loss (before R&D) $702,805 $1,026,209

Net Loss $1,485,292 $2,063,614

2011 FLYHT Plan

• Complete development of AFIRS 228

• Continue to deliver AFIRS 220

• Enhance service and support to current customers

• Commence installation of AFIRS 228 for a minimum of three clients

• Target growing regions of China, South America, Africa, and the Middle East

• Continue to expand Supplemental Type Certificates

Questions