Alphatrade Com (APTD) 10-Q/A 2008 Q1 Quarterly report (amended)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

[×]	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended  March 31, 2008   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:  000-25631

AlphaTrade.com

(Exact name of registrant as specified in its charter)

NV	98-0211652
(State or other jurisdiction	(IRS Employer
of incorporation)	Identification Number)

930 West First Street, Ste 116, North Vancouver, BC	V7P 3N4
(Address of principal executive offices)	(Zip Code)

(604) 986-9866

Registrant’s telephone number, including area code

(Former Name or Former Address, if Changed Since Last Report)

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   [  ]  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.

[  ]	Large accelerated filer	[  ]	Accelerated filer
[  ]	Non-accelerated filer	[×]	Smaller reporting company

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

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 50,250,523 as of March 31, 2008.

TABLE OF CONTENTS

EX-31.1  Certifications required under Section 302 of the Sarbanes-Oxley Act

EX-31.2  Certifications required under Section 302 of the Sarbanes-Oxley Act

EX-32.1  Certifications required under Section 906 of the Sarbanes-Oxley Act

EX-32.2  Certifications required under Section 906 of the Sarbanes-Oxley Act

                              Report on Form 10-Q

                       For the Quarter Ended March 31, 2008

                                      INDEX

                                                                          Page

                                                                          ----

Part I.  Financial Information

         Item 1.      Financial Statements (unaudited)...................... 3

                      Balance Sheets.......................................4-5

                      Statements of Operations ............................. 6

                      Statement of Stockholders' Equity (Deficit)........... 7

                      Statements of Cash Flows.............................8-9

                      Notes to the Financial Statements .................10-12

         Item 2.      Management's Discussion and Analysis

                        or Plan of Operation .............................. 13

         Item 3.      Controls and Procedures ............................. 14

Part II. Other Information

         Item 1.      Legal Proceedings ................................... 15

         Item 2.      Changes in Securities ............................... 15

         Item 3.      Defaults Upon Senior Securities ..................... 16

         Item 4.      Submission of Matters to a Vote of Security Holders . 16

         Item 5.      Other Information ................................... 16

         Item 6.      Exhibits and Reports on Form 8-K .................... 16

                      Signatures........................................... 17

                      Certifications.....................................18-23

PART I - FINANCIAL INFORMATION

ALPHATRADE.COM

Balance Sheets

ASSETS

			March 31,		December 31,
			2008		2007
			(unaudited)
CURRENT ASSETS				(restated)
	Cash		$	35,281	$	153,760
	Accounts receivable			930		28,047
	Marketable securities-avaliable for sale			482,713		658,858
	Marketable securities-avaliable for sale related party			7,324		5,232
	Prepaid expenses			14,900		750
		Total Current Assets		541,148		846,647
PROPERTY AND EQUIPMENT, net				40,334		45,633
OTHER ASSETS
	Investments, at cost			300,000		300,000
		TOTAL ASSETS	$	881,482	$	1,192,280

The accompanying notes are an integral part of these financial statements.

4

ALPHATARADE.COM

Balance Sheets

(restated)

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

			March 31,		December 31,
			2008		2007
			(unaudited)
CURRENT LIABILITIES
	Accounts payable and accrued expenses		$	2,159,821	$	2,404,822
	Bank overdraft			65,918		-
	Related party payables			2,435,650		2,190,414
	Deferred revenues			749,137		1,130,178
		Total Current Liabilities		5,410,526		5,725,414
TOTAL LIABILITIES				5,410,526		5,725,414
STOCKHOLDERS' EQUITY (DEFICIT)
	Preferred shares: $0.001 par value,
	10,000,000 shares authorized: 2,000,000 Class A and
	2,000,000 Class B shares issues and outstanding			4,000		4,000
	Common shares: $0.001 par value,
	100,000,000 shares authorized: 50,280,523 and 48,589,773
	shares issues and outstanding,respectively			50,281		48,590
	Stock subscription payable			45,080		28,500
	Additional paid-in capital			33,312,117		32,959,057
	Accumulated other comprehensive income			(966,756)		(738,404)
	Accumulated deficit			(36,973,766)		(36,834,877)
		Total Stockholders' Equity (Deficit)		(4,529,044)		(4,533,134)
		TOTAL LIABILITIES AND STOCKHOLDERS'
		EQUITY (DEFICIT)	$	881,482	$	1,192,280

The accompanying notes are an integral part of these financial statements.

5

ALPHATRADE.COM

Statements of Operations

(unaudited)

(restated)

			For the Three Months Ended
			March 31,
			2008		2007
REVENUES
	Subscription revenue		$	771,928	$	772,661
	Advertising revenue			808,055		398,367
	Other revenue			37,401		20,179
		Total Revenues		1,617,384		1,191,207
COST OF SALES
	Financial content			483,403		452,294
	Other cost of sales			1,100		1,486
		Total Cost of Sales		484,503		453,780
GROSS PROFIT				1,132,881		737,427
OPERATING EXPENSES
	Management expense			120,000		120,000
	Professional fees			438,492		457,825
	Research and development			147,478		87,751
	Marketing expense			134,697		891,497
	General and administrative			256,885		180,797
		Total Operating Expenses		1,097,552		1,737,870
INCOME (LOSS) FROM OPERATIONS				35,329		(1,000,443)
OTHER INCOME (EXPENSE)
	Gain (Loss) on sale of assets			(85,738)		-
	Interest expense			(88,480)		-
		Total Other Income (Expense)		(174,218)		-
NET LOSS BEFORE INCOME TAXES				(138,889)		(1,000,443)
INCOME TAX EXPENSE				-		-
NET LOSS			$	(138,889)	$	(1,000,443)
OTHER COMPREHENSIVE INCOME (LOSS)			$	(228,352)	$	(9,482)
TOTAL COMPREHENSIVE INCOME (LOSS)			$	(367,241)	$	(1,009,925)
BASIC EARNINGS (LOSS) PER SHARE			$	(0.00)	$	(0.03)
COMPREHENSIVE BASIC EARNINGS (LOSS) PER SHARE			$	(0.01)	$	(0.03)
BASIC WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING				49,601,306		37,502,527
FULLY DILUTED WEIGHTED AVERAGE
NUMBER OF SHARES OUTSTANDING				49,601,306		37,502,527

The accompanying notes are an integral part of these financial statements.

7

ALPHATRADE.COM

Statements of Stockholders' Equity

(restated)

							Additional		Stock		Other				Total
	Preferred Stock			Common Stock			Paid-In		Subscription		Comprehensive		Accumulated		Stockholders'
	Shares	Amount		Shares	Amount		Capital		Payable		Income		Deficit		Equity
Balance, December 31, 2006	4,000,000	$	4,000	40,425,027	$	40,425	$	30,853,661	$	(30,000)	$	(717,860)	$	(31,111,747)	$	(961,521)
Common stock issued for cash
at $0.18 per share	-		-	2,287,500		2,288		454,212		28,500		-		-		485,000
Common stock issued for services
at $0.20 per share	-		-	5,877,246		5,877		1,052,066		-		-		-		1,057,943
Value of stock purchase
warrants granted	-		-	-		-		207,728		-		-		-		207,728
Value of stock options issued
under the 2007 stock option plan	-		-	-		-		131,540		-		-		-		131,540
Contributed capital	-		-	-		-		19,850		-		-		-		19,850
Executive compensation
contributed by related party	-		-	-		-		240,000		-		-		-		240,000
Amortization of prepaid expense	-		-	-		-		-		30,000		-		-		30,000
Net income for the year
ended December 31, 2007	-		-	-		-		-		-		(20,544)		(5,723,130)		(5,743,674)
Balance, December 31, 2007	4,000,000		4,000	48,589,773		48,590		32,959,057		28,500		(738,404)		(36,834,877)		(4,533,134)
Common stock issued for cash
at $0.20 per share	-		-	725,000		725		144,275		16,580		-		-		161,580
Common stock issued for services
at $0.20 per share	-		-	965,750		966		194,552		-		-		-		195,518
Value of stock purchase
warrants granted	-		-	-		-		14,233		-		-		-		14,233
Net loss for the three months
ended March 31, 2008	-		-	-		-		-		-		(228,352)		(138,889)		(367,241)
Balance, March 31, 2008 (unaudited)	4,000,000	$	4,000	50,280,523	$	50,281	$	33,312,117	$	45,080	$	(966,756)	$	(36,973,766)	$	(4,529,044)

The accompanying notes are an integral part of these financial statements.

8

ALPHATRADE.COM

Statements of Cash Flows

(unaudited)

(restated)

			For the Three Months Ended
			March 31,
			2008		2007
CASH FLOWS FROM
OPERATING ACTIVITIES
	Net loss		$	(138,889)	$	(1,000,443)
	Adjustments to reconcile net loss to
	net cash used by operating activities:
		Depreciation expense	#	5,299	#	3,336
		Value of options granted		14,233		10,128
		Loss on sale of assets		85,738		-
		Amortization of services prepaid by common stock		-		13,125
		Investments received as payment for accounts receivable		(232,697)		(146,250)
		Common stock issued for services		195,518		232,365
	Changes in operating assets and liabilities:
		Proceeds from bank overdraft		65,918		-
		Changes in accounts receivable	#	46,165	#	56,510
		Changes in prepaid expenses		(14,150)		(10,241)
		Changes in deferred revenues		(381,041)		83,740
		Changes in related party payables		245,236		422,494
		Changes in accounts payable and accrued expenses		(245,001)		209,182
		Net Cash Provided by Operating Activities		(353,671)		(126,054)
CASH FLOWS FROM
INVESTING ACTIVITIES
	Sale of securities			73,612		-
	Purchase of fixed assets			-		(1,023)
		Net Cash Used by Investing Activities		73,612		(1,023)
CASH FLOWS FROM
FINANCING ACTIVITIES
	Stock subscriptions payable			16,580		-
	Common stock issued for cash			145,000		-
	Contributed capital			-		19,850
		Net Cash Provided by Financing Activities		161,580		19,850
		NET DECREASE IN CASH		(118,479)		(107,227)
		CASH AT BEGINNING OF PERIOD		153,760		147,323
		CASH AT END OF PERIOD	$	35,281	$	40,096
SUPPLEMENTAL DISCLOSURES OF
	CASH FLOW INFORMATION
	CASH PAID FOR:
		Interest	$	24,286	$	-
		Income Taxes	$	-	$	-
	NON CASH FINANCING ACTIVITIES:
		Common stock issued for services and contributions	$	195,518	$	232,365
		Value of stock options granted	$	14,233	$	10,128

The accompanying notes are an integral part of these financial statements.

9

                                 ALPHATRADE.COM

                        Notes to the Financial Statements

NOTE 1 - CONDENSED FINANCIAL STATEMENTS

         The accompanying financial statements have been prepared by the Company

         without audit.  In the opinion of management,  all  adjustments  (which

         include only normal recurring  adjustments) necessary to present fairly

         the financial  position,  results of operations and cash flows at March

         31, 2008 and for all periods presented have been made.

         Certain  information  and  footnote  disclosures  normally  included in

         financial statements prepared in accordance with accounting  principles

         generally  accepted in the United States of America have been condensed

         or omitted. It is suggested that these condensed  financial  statements

         be read in conjunction with the financial  statements and notes thereto

         included  in  the  Company's   December  31,  2007  audited   financial

         statements.  The results of operations  for the periods ended March 31,

         2008 and 2007 are not necessarily  indicative of the operating  results

         for the full years.

NOTE 2 - OUTSTANDING COMMON STOCK OPTIONS AND STOCK PURCHASE WARRANTS

         The Company uses the instruments identified as stock options and common

         stock  warrants   somewhat   interchangeably.   Both  forms  of  equity

         instruments have been granted as compensation to the Company's officers

         and directors.

         Under FASB Statement 123R, the Company estimates the fair value of each

         stock award at the grant date by using the Black-Scholes option pricing

         model. The following  weighted  average  assumptions used for grants in

         the periods ended December 31, 2007 and March 31, 2008:  dividend yield

         of zero  percent  for all  years;  expected  volatility  of 55.50%  and

         62.01%;  risk-free interest rates of 5.03% and 3.25% and expected lives

         of 1.0 and 1.0, respectively.

         The general terms of awards such as vesting requirements(usually 1 to 2

         years),  term of options  granted  (usually  10  years),  and number of

         shares authorized for grants of options or other equity instruments are

         determined  by the Board of  Directors.  A summary of the status of the

         Company's  stock  options  and  warrants  as of  December  31, 2007 and

         changes during the periods ended December 31, 2007and March 31, 2008 is

         presented below:

                                           Weighted    Weighted

                                           Options     Average      Average

                                           and         Exercise     Grant Date

                                           Warrants    Price        Fair Value

                                           -----------------------------------

           Outstanding, December 31, 2006  39,822,997  $   0.38     $    0.38

            Granted                        13,618,000      0.25          0.25

            Expired                        (1,130,000)     0.72          0.72

            Exercised                        (740,650)     0.76          0.76

                                           ----------------------------------

           Outstanding, December 31, 2007  51,570,347  $   0.36     $    0.36

                                           ----------------------------------

           Exercisable, December 31, 2007  35,925,350  $   0.40     $    0.40

                                           ----------------------------------

                                       11

                                 ALPHATRADE.COM

                        Notes to the Financial Statements

NOTE 2 - OUTSTANDING COMMON STOCK OPTIONS AND STOCK PURCHASE WARRANTS(Continued)

                                           Weighted    Weighted

                                           Options     Average      Average

                                           and         Exercise     Grant Date

                                           Warrants    Price        Fair Value

                                           -----------------------------------

           Outstanding, December 31, 2007  51,570,347  $   0.36     $    0.36

            Granted                         2,160,000      0.41          0.41

            Expired                          (200,000)     0.15          0.15

            Exercised                        (298,650)     0.25          0.25

           Outstanding, March 31, 2008     53,231,697  $   0.36     $    0.40

           Exercisable, March 31, 2008     37,885,350  $   0.40     $    0.40

NOTE 3 - RESTATED FINANCIAL STATEMENTS

The Company has restated its financial statements as of and for the period  ended March 31, 2008 to reflect the reversal of $2,240,421 of advertising    revenues because management concluded that the collectability of the subject fees was not reasonably assured, and to record an other-than-temporary impairment of available-for-sale equity securities in the amount of $909,127.  The following summarized financial statements compare the financial statements before and after the restatement.

 BALANCE SHEET

  CURRENT ASSETS                                 (original)       (restated)

        Cash                                    $     35,281     $     35,281

        Accounts receivable                        2,241,351              930

        Marketable securities-available

         for sale                                    482,713          482,713

        Marketable securities-available

         for sale related party                        7,324            7,324

        Prepaid expenses                              14,900           14,900

                                                ------------    -------------

  Total Current Assets                             2,781,569          541,148

                                                ------------    -------------

  PROPERTY AND EQUIPMENT, net                         40,334           40,334

                                                ------------    -------------

  OTHER ASSETS

        Investments, at cost                         300,000          300,000

                                                ------------    -------------

  TOTAL ASSETS                                  $  3,121,903    $     881,482

                                                ============    =============

  CURRENT LIABILITIES

        Accounts payable and accrued expenses   $  2,159,821    $   2,159,821

        Bank overdraft                                65,918           65,918

        Related party payables                     2,435,650        2,435,650

        Deferred revenues                            251,696          749,137

                                                ------------    -------------

          Total Current Liabilities                4,913,085        5,410,526

                                                ------------    -------------

  TOTAL LIABILITIES                                4,913,085        5,410,526

                                                ------------    -------------

                                       12

                                 ALPHATRADE.COM

                        Notes to the Financial Statements

NOTE 3 - RESTATED FINANCIAL STATEMENTS (Continued)

                                                             Original Restated

  STOCKHOLDERS' EQUITY

        Preferred shares: $0.001 par value,

         10,000,000 shares authorized: 2,000,000

         Class A and 2,000,000 Class B shares

         issues and outstanding                        4,000            4,000

        Common shares: $0.001 par value,

         100,000,000 shares authorized:

         50,280,523 shares issues and

         outstanding                                  50,281           50,281

        Stock subscription payable                    45,080           45,080

        Additional paid-in capital                33,072,117       33,312,117

        Accumulated other comprehensive income    (1,875,883)        (966,756)

        Accumulated deficit                      (33,086,777)     (36,973,766)

                                                ------------    -------------

          Total Stockholders' Equity              (1,791,182)      (4,529,044)

                                                ------------    -------------

          TOTAL LIABILITIES AND STOCKHOLDERS'

                EQUITY                          $  3,121,903    $     881,482

                                                ============    =============

STATEMENT OF OPERATIONS

REVENUES

        Subscription revenue                    $    771,928    $     771,928

        Advertising revenue                        2,660,317          808,055

        Other revenue                                 37,401           37,401

                                                ------------    -------------

          Total Revenues

                                                   3,469,646        1,617,384

                                                ------------    -------------

  COST OF SALES

        Financial content                            483,403          483,403

        Other cost of sales                            1,100            1,100

                                                ------------    -------------

          Total Cost of Sales                        484,503          484,503

                                                ------------    -------------

  GROSS PROFIT                                     2,985,143        1,132,881

                                                ------------    -------------

  OPERATING EXPENSES

        Management expense                           120,000          120,000

        Professional fees                            438,492          438,492

        Research and development                     147,478          147,478

        Marketing expense                            134,697          134,697

        General and administrative                   256,885          256,885

                                                ------------    -------------

          Total Operating Expenses                 1,097,552        1,097,552

                                                ------------    -------------

  INCOME (LOSS) FROM OPERATIONS                    1,887,591           35,329

                                                ------------    -------------

  OTHER INCOME (EXPENSE)

        Gain (Loss) on sale of assets                (85,738)         (85,738)

        Interest expense                             (88,480)         (88,480)

                                                ------------    -------------

          Total Other Income (Expense)              (174,218)        (174,218)

                                                ------------    -------------

  NET INCOME (LOSS) BEFORE INCOME TAXES            1,713,373         (138,889)

                                       13

                                 ALPHATRADE.COM

                        Notes to the Financial Statements

NOTE 3 - RESTATED FINANCIAL STATEMENTS (Continued)

  INCOME TAX EXPENSE                                       -                -

                                                ------------    -------------

  NET INCOME (LOSS)                             $  1,713,373    $    (138,889)

                                                ============    =============

  OTHER COMPREHENSIVE INCOME (LOSS)             $   (228,352)   $    (228,352)

                                                ------------    -------------

  TOTAL COMPREHENSIVE INCOME (LOSS)             $  1,485,021    $    (367,241)

                                                ============    =============

  BASIC EARNINGS (LOSS) PER SHARE               $       0.03    $       (0.00)

                                                ============    =============

  COMPREHENSIVE BASIC EARNINGS (LOSS) PER SHARE $       0.03    $       (0.01)

                                                ============    =============

  BASIC WEIGHTED AVERAGE NUMBER

    OF SHARES OUTSTANDING                         49,601,306       49,601,306

                                               =============    =============

  FULLY DILUTED WEIGHTED AVERAGE NUMBER

    OF SHARES OUTSTANDING                         49,601,306       49,601,306

                                               =============    =============

Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operations

The following information should be read in conjunction with the financial

statements and notes thereto appearing elsewhere in this Form 10-Q.

Forward-looking and Cautionary Statements

This report contains certain forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks and uncertainties. These factors may cause our company's, or our industry's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will" "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology.

These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.

Restated Financial Statements

The Company has restated its financial statements as of and for the period ended March 31, 2008 to reflect the reversal of $1,852,262 of advertising revenues not properly recognized in accordance with the Company’s revenue recognition policy, and to record an other-than-temporary impairment of available-for-sale equity securities in the amount of $909,127. The following summarized financial statements compare the financial statements before and after the restatement.

Restated Results of Operations.

During the three months ended March 31, 2008, revenue increased significantly

over the same period of 2007. Revenue for the first quarter in 2008 was $1,617,384, which is a 36% increase over first quarter 2007 revenue of $1,191,207. The largest increase in revenue is advertising.This statement should be removed altogether. Advertising revenues in the first quarter grew from $398,367 in 2007 to $808,055 in 2008. Our advertising model is unique in the industry because we have a high traffic website and our audience is comprised of a specific demographic. We are building a client base of companies that are seeking brand awareness in combination with building their shareholder base. Our advertising client base is increasing because we have created relationships with investor and public relations firms who refer us new business.  

We are focused on building alliances with other financial websites and non-competing businesses to drive more traffic to our website which in turn creates greater exposure for our advertising clients.

Our cost of sales for our financial products is directly related to the price of our financial feeds and content. Some of these costs are fixed monthly fees and others are based on the number of users or subscribers. As our subscribers increase, our ability to charge more for our advertising products increases.  For the first quarter of 2008 our cost of sales was 30% of revenues compared to 38% in 2007. As our advertising revenues increase, this percentage may become more and more favorable in terms of profitable operations.

We incurred a net loss of $138,889 for the three months ended March 31, 2008

compared to a loss of $1,000,443 for the three months ended March 31, 2007. This is a decrease of $861,554. and directly related to our established relationships with the marketing and public relations firms.This statement should be removed it makes no sense – how does our relationships reduce our expenses by almost half?  During 2008 we terminated most of our sports partnerships because the cost was excessive for the results we achieved from a financial perspective; however, a few of the  partnerships did drive more traffic to our website. In 2008 we paid $891,497 to a couple of major league baseb all teams, automobile racing teams, and the PBR, and other marketing  consultants. In combination with the amount we spent in 2007 and to date this year, these expenses have translated into a substantial increase in Alphatrade’s brand awareness which enabled us to capitalize on that awareness to build our advertising growth.  During 2008 we paid only $134,697 in marketing fees.

Included in professional fees for 2008 are shares of common stock to investor relations consultants valued at $195,518 compared to $232,365 in 2007 and stock options to our employees valued at $14,233 compared to $10,128 in 2007. For the most part, the investor relations consultants were instrumental in bringing new advertising business to the company. We realized related party compensation expense of $120,000 for both 2008 and 2007. Our operating expenses decreased from $1,737,870 in 2007 to $1,097,552 for 2008 because we did not renew our sports partnerships. 

Historically, many of our expenses are paid in shares of our common stock. The

expenses are recorded at the fair value of the shares issued. Excluding these

non cash expenses the income (loss) for the three months ended March 31, 2008 and 2007 would have been $70,862 and ($757,959), respectively. The loss in 2007 is almost entirely due to the payments to our sports partnerships which are providing some residual benefits from the greater exposure we received and from the contacts we made with these associations.

Liquidity and Capital Resources.

We have consistently been financed through loans from related parties and from

raising capital through private equity offerings. We used $353,671 and $126,054

of cash in our operating activities in the first three months of 2008 and 2007,

respectively. For the three months ended March 31, 2008 and 2007 we received

cash totaling $161,580 and $19,850 from the issuance of our common stock and

contributed capital. We expect that in the next twelve months the cash

generated by our operations will be adequate to cover our operating expenses. 

Given the right circumstances, we would entertain a secondary financing if it

would ensure our growth could be greatly fast-tracked otherwise we will focus on building our business via revenue growth. Currently, we do not have any definitive plans for a secondary financing.

We currently have no material commitments for major capital expenditures. 

Dependence on Key Personnel

We are dependent on the services of Penny Perfect, the Chief Executive Officer of the Company.  The loss of Ms. Perfect or Gordon Muir, our CTO or other key  executives  and personnel,  or the  inability  to attract  and  retain the additional highly skilled employees  required for the expansion of our activities,  may have a material  adverse  effect on our business or our future  operations. 

Item 3.   Controls and Procedures

         As of the end of the period covered by this report, we carried out an

evaluation, under the supervision and with the participation of management,

including our chief executive officer and principal financial officer, of the

effectiveness of the design and operation of our disclosure controls and

procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Securities

Exchange Act of 1934. Based upon that evaluation, our chief executive officer

and principal financial officer concluded that our disclosure controls and

procedures are not effective to cause the material information required to be

disclosed by us in the reports that we file or submit under the Exchange Act to

be recorded, processed, summarized and reported within the time periods

specified in the SEC's rules and forms. There have been no changes

in our internal controls or in other factors which could significantly affect

internal controls subsequent to the date we carried out our evaluation.

PART II - OTHER INFORMATION.

Item 1. Legal Proceedings.

AlphaTrade.com is the Defendant in litigation pending in the Supreme Court of British Columbia, Canada. This action was filed on December 23, 2003 and is between Zacks Investment Services, Inc. as Plaintiff and AlphaTrade.com as Defendant. The case number is 5036907.

The Plaintiff alleges that it is owed the sum of $279,664 pursuant to a licensing Agreement executed by the Plaintiff and the Defendant in 1999. Alphatrade is aggressively defending itself against this claim.

During the year ending December 31, 2002, a company filed an action against AlphaTrade in the Supreme Court of British Columbia, Canada claiming unspecified damages. AlphaTrade filed a Statement of Defense in August, 2002. There has been no further developments in this action. AlphaTrade plans to vigorously defend itself.

Arena Media Networks LLC v. AlphaTrade.com

Supreme Court of the State of New York, County of New York, Index No. 603406/06

-------------------------------------------------------------------------------

Plaintiff Arena Media Networks LLC ("Arena") commenced this action on or about

October 15, 2007 by the filing of a Summons and Complaint. In the Complaint,

Arena asserts causes of action for breach of contract, account stated and unjust

enrichment against the Company arising from the Company's alleged failure to pay

sums purportedly due Arena pursuant to an agreement in which Arena agreed to

place advertising for the Company.

The Company answered the Complaint on February 1, 2008. In its Answer, the

Company denies the material allegations of the Complaint and asserts numerous

affirmative defenses. This action is presently in the discovery stage. The

Company intends to vigorously defend this action.

Professional Bull Riders, Inc. v. AlphaTrade.com,

United Stated District Court, District of Colorado, Case No. 08-cv-01017 (MSK)

Plaintiff Professional Bull Riders, Inc. (“PBR”) commenced this action against the Company on or about April 15, 2008 in the District Court of Pueblo County, Colorado, Case No. 2008CV527.  The Company removed this action to the United States District Court for the District of Colorado on May 15, 2008.  In its Complaint, PBR alleges two causes of action arising from the alleged breach of a Sponsorship Agreement, as amended, and the alleged breach of a settlement agreement, and seeks damages of over $1,500,000.

The Company is required to answer or move with respect to the Complaint on or before May 22, 2008.  The Company denies the material allegations of the Complaint and intends to vigorously defend this action.

We are subject to potential liability under contractual and other matters and various claims and legal actions which may be asserted. These matters arise in the ordinary course and conduct of our business. While the outcome of the potential claims and legal actions against us cannot be forecast with certainty, we believe that such matters should not result in any liability which would have a material adverse effect on our business.

Item 2. Changes in Securities.

The following unregistered securities have been issued since January 1st, 2008:

                                                 Valued

Date             No. of Shares      Title          At          Reason

Jan./2008       400,000           Common         $0.20       For cash

Jan./2008       440,750           Common         $0.20       For services

Feb./2008       300,000           Common         $0.20       For cash

Feb./2008       480,000           Common         $0.20       For services

March/2008      45,000            Common         $0.20       For services

March/2008      25,000            Common         $0.20       For cash  

The above noted shares were issued in private, isolated transactions without

registration under the Securities Act. The shares were issued in reliance on the

exemption provided by Rule 506 and/or Section 4(2) of the Securities Act as a

transaction by an issuer not involving a public offering to Consultants or to

companies owned or controlled by Consultants or Officers of AlphaTrade.

Item 3. Defaults Upon Senior Securities.

        None.

Item 4. Submission of Matters to a Vote of Security Holders.

        None.

Item 5. Other Information.

        None.

Item 6. Exhibits and Reports on Form 8-K.

        (a) Exhibits

         Exhibit 31.1   Certification of C.E.O. Pursuant to Section 302 of the

                        Sarbanses-Oxley Act of 2002.

         Exhibit 31.2   Certification of Principal Accounting Officer Pursuant

                        to Section 302 of the Sarbanses-Oxley Act of 2002.

         Exhibit 32.1   Certification of C.E.O. Pursuant to 18 U.S.C. Section

                        1350,  as  Adopted  Pursuant  to  Section  906 of the

                        Sarbanes-Oxley Act of 2002

         Exhibit 32.2   Certification   of   Principal   Accounting   Officer

                        Pursuant to 18 U.S.C.  Section 1350, as Adopted

                        Pursuant to Section 906 of the  Sarbanes-Oxley Act of

                        2002

        (b) Report on Form 8-K

              None

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.

		AlphaTrade.com
Date: April 21, 2010	By:	/s/ Gordon J. Muir
		Gordon J. Muir
		CEO/Director

		AlphaTrade.com
Date: April 21, 2010	By:	/s/ Katharine Johnston
		Katharine Johnston
		Principal Accounting Officer

EXHIBIT INDEX

Exhibit Number	Description of Exhibit
EX-31.1	Certifications required under Section 302 of the Sarbanes-Oxley Act
EX-31.2	Certifications required under Section 302 of the Sarbanes-Oxley Act
EX-32.1	Certifications required under Section 906 of the Sarbanes-Oxley Act
EX-32.2	Certifications required under Section 906 of the Sarbanes-Oxley Act