8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                    FORM 8-K

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                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

         Date of Report (Date of Earliest Event Reported): MAY 10, 2007

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                           ASI TECHNOLOGY CORPORATION
               (Exact Name of Registrant as Specified in Charter)

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           NEVADA                         0-6428                  88-0105586
(State or Other Jurisdiction     (Commission File Number)       (IRS Employer
     of Incorporation)                                       Identification No.)


     980 AMERICAN PACIFIC DRIVE, #111, HENDERSON, NV            89014
         (Address of Principal Executive Offices)             (Zip Code)


       Registrant's Telephone Number, Including Area Code: (702) 734-1888

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17
    CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))



ITEM 2.02.    RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 10, 2007, ASI Technology Corporation issued a press release announcing
financial results for its second quarter ended March 31, 2007.

A copy of the press release is attached hereto as Exhibit 99.1.

In accordance with General Instruction B.2. of Form 8-K, the information in this
Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), or otherwise subject to the liability of that section, nor
shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended, or the Exchange Act, except as expressly set forth by
specific reference in such a filing.


ITEM 9.01.    FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

Exhibit
Number        Description of Exhibit

99.1          Press Release Dated May 10, 2007


                                   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 hereunto duly authorized.

                                     ASI TECHNOLOGY CORPORATION

Date:  May 10, 2007                  /s/ JERRY E. POLIS
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                                     Jerry E. Polis
                                     Chairman


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EX-99.1

                                                                    EXHIBIT 99.1

FOR IMMEDIATE RELEASE

                       ASI TECHNOLOGY CORPORATION REPORTS
                           SECOND QUARTER 2007 RESULTS

(LAS VEGAS, NEVADA, MAY 10, 2007)--ASI TECHNOLOGY CORPORATION (OTCBB: ASIT)
reported today results for the first six months of fiscal 2007 ended March 31,
2007.

For the six months ended March 31, 2007 the Company reported revenues of
$156,000 a 20% increase over revenues of $130,000 for the comparable period of
fiscal 2006. The net loss of $39,000 (nil per share) for the first six months of
fiscal 2007 compared to a net loss of $32,000 (nil per share) for the first six
months of 2006. Cash flow generated from operations was $23,000 for the first
six months of fiscal 2007 compared to $15,000 for the comparable period of
fiscal 2006. The Company's net investment in loans was $2.9 million at March 31,
2007 and cash and cash equivalents was $3.4 million. The Company's primary
source of revenue is interest income on notes and short-term investments.

The Company's specialty finance component generated segment profit of $96,000
during the first six months of 2007 and its technology development component
produced a $3,000 segment loss, both results before unallocated expenses of
$131,000.

Jerry E. Polis, ASI Chairman commented, "During the second quarter we completed
a $4 million equity financing that increases our loan capacity to over $6
million. We expect our revenues to grow as we originate new loans during the
balance of 2007. We are pleased that we were able to generate positive cash flow
from operations considering we incurred over $30,000 of licensing and startup
costs in 2007 for our new finance subsidiary, ASI Capital Corporation."

ABOUT ASI TECHNOLOGY CORPORATION (www.asiplasma.com) - ASI is a finance and
investment company that provides specialty finance loans and invests in new
technologies. ASI has innovated new applications of plasma in the areas of
antennas, communication links, electronic shielding, noise reduction and
decontamination.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995: This document contains forward-looking statements relating to future
performance and technology development that may affect future results of the
company. Actual results could be affected or differ materially from those
projected in the forward-looking statements as a result of risks and
uncertainties, loan and development results, competition, general economic
factors, and other factors identified and discussed in the Company's most recent
filings with the Securities and Exchange Commission. The Company's short-term
investments are subject to many risks including default and nonpayment. Failure
to collect on loans or investments could have an adverse effect on the Company's
operations. These forward-looking statements are based on information and
management's expectations as of the date hereof. Future results may differ
materially from the Company's current expectations.

                                      # # #

FOR FURTHER INFORMATION CONTACT:
Jerry E. Polis
Chairman of ASI Technology
702.734.1888 - jerrypolis@aol.com

John Blackmon
President of ASI Capital Corporation
702.405.2300 - jblackmon@asicapital.com