Alphatrade Com (APTD) 10-Q/A 2008 Q2 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  June 30, 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: 51,525,523 as of June 30, 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 June 30, 2008

                                      INDEX

                                                                          Page

                                                                          ----

Part I.  Financial Information

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

                      Balance Sheets...................................... 3-4

                      Statements of Operations ........................... 5-6

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

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

                      Notes to the Financial Statements ................. 0-13

         Item 2.      Management's Discussion and Analysis

                        or Plan of Operation .............................. 14

         Item 3.      Controls and Procedures ............................. 15

Part II. Other Information

         Item 1.      Legal Proceedings ................................... 16

         Item 2.      Changes in Securities ............................... 17

         Item 3.      Defaults Upon Senior Securities ..................... 18

         Item 4.      Submission of Matters to a Vote of Security Holders . 18

         Item 5.      Other Information ................................... 18

         Item 6.      Exhibits and Reports on Form 8-K .................... 18

                      Signatures........................................... 19

                      Certifications.................................... 20-25

PART I - FINANCIAL INFORMATION

ALPHATRADE.COM

Balance Sheets

ASSETS

			June 30,		December 31,
			2008		2007
			(unaudited)
CURRENT ASSETS			(restated)
	Cash		$	3,538	$	153,760
	Accounts receivable			6,061		28,047
	Marketable securities-available for sale			1,896,435		658,858
	Marketable securities-available for sale related party			2,093		5,232
	Prepaid expenses			18,093		750
		Total Current Assets		1,926,220		846,647
PROPERTY AND EQUIPMENT, net				39,679		45,633
OTHER ASSETS
	Investments, at cost			300,000		300,000
		TOTAL ASSETS	$	2,265,899	$	1,192,280

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

3

ALPHATARADE.COM

Balance Sheets

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

			June 30,		December 31,
			2008		2007
			(unaudited)
			(restated)
CURRENT LIABILITIES
	Accounts payable and accrued expenses		$	2,005,442	$	2,404,822
	Bank overdraft			22,664		-
	Related party payables			2,459,357		2,190,414
	Deferred revenues			367,817		1,130,178
		Total Current Liabilities		4,855,280		5,725,414
TOTAL LIABILITIES				4,855,280		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: 51,525,523 and 48,589,773
	shares issues and outstanding,respectively			51,526		48,590
	Stock subscription payable			45,080		28,500
	Additional paid-in capital			33,481,922		32,959,057
	Accumulated other comprehensive income			(620,425)		(738,404)
	Accumulated deficit			(35,551,484)		(36,834,877)
		Total Stockholders' Equity (Deficit)		(2,589,381)		(4,533,134)
		TOTAL LIABILITIES AND STOCKHOLDERS'
		EQUITY (DEFICIT)	$	2,265,899	$	1,192,280

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

4

ALPHATRADE.COM

Statements of Operations and Other Comprehensive Income (Loss)

(unaudited)

			For the Three Months Ended				For the Six Months Ended
			June 30,				June 30,
			2008		2007		2008		2007
REVENUES				(restated)				(restated)
	Subscription revenue		$	787,835	$	751,994	$	1,559,763	$	1,524,655
	Advertising revenue			1,660,240		460,102		2,468,295		858,469
	Other revenue			57,743		14,509		95,144		34,688
		Total Revenues		2,505,818		1,226,605		4,123,202		2,417,812
COST OF SALES
	Financial content			457,094		444,820		940,497		897,114
	Other cost of sales			1,042		1,307		2,142		2,793
		Total Cost of Sales		458,136		446,127		942,639		899,907
GROSS PROFIT				2,047,682		780,478		3,180,563		1,517,905
OPERATING EXPENSES
	Management expense			120,000		120,000		240,000		240,000
	Professional fees			229,496		604,339		667,988		1,062,164
	Research and development			124,225		100,118		271,703		187,869
	Marketing expense			258,226		565,094		492,923		1,456,591
	General and administrative			97,540		189,028		254,425		369,825
		Total Operating Expenses		829,487		1,578,579		1,927,039		3,316,449
INCOME (LOSS) FROM OPERATIONS				1,218,195		(798,101)		1,253,524		(1,798,544)
OTHER INCOME (EXPENSE)
	Gain (Loss) on sale of assets			(12,194)		(48,350)		(97,932)		(48,350)
	Gain on settlement of debt			307,972		-		307,972		-
	Interest expense			(91,691)		-		(180,171)		-
		Total Other Income (Expense)		204,087		(48,350)		29,869		(48,350)
NET INCOME (LOSS) BEFORE INCOME TAXES				1,422,282		(846,451)		1,283,393		(1,846,894)
INCOME TAX EXPENSE				-		-		-		-
NET INCOME (LOSS)			$	1,422,282	$	(846,451)	$	1,283,393	$	(1,846,894)
OTHER COMPREHENSIVE INCOME (LOSS)			$	346,331	$	(218,199)	$	117,979	$	(227,681)
TOTAL COMPREHENSIVE INCOME (LOSS)			$	1,768,613	$	(1,064,650)	$	1,401,372	$	(2,074,575)
BASIC EARNINGS (LOSS) PER SHARE			$	0.03	$	(0.02)	$	0.03	$	(0.04)
COMPREHENSIVE BASIC EARNINGS (LOSS) PER SHARE			$	0.04	$	(0.02)	$	0.03	$	(0.05)
BASIC WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING				50,513,858		42,716,045		50,065,120		41,986,171
FULLY DILUTED WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING				118,399,208		42,716,045		117,950,470		41,986,171

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

6

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	-		-	1,025,000		1,025		188,975		16,580		-		-		206,580
Common stock issued for services
at $0.17 per share	-		-	1,910,750		1,911		319,657		-		-		-		321,568
Value of stock purchase
warrants granted	-		-	-		-		14,233		-		-		-		14,233
Net income for the six months
ended June 30, 2008	-		-	-		-		-		-		117,979		1,283,393		1,401,372
Balance, June 30, 2008 (unaudited)	4,000,000	$	4,000	51,525,523	$	51,526	$	33,481,922	$	45,080	$	(620,425)	$	(35,551,484)	$	(2,589,381)

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

7

ALPHATRADE.COM

Statements of Cash Flows

(unaudited)

(restated)

			For the Six Months Ended
			June 30,
			2008		2007
CASH FLOWS FROM
OPERATING ACTIVITIES
	Net loss		$	1,283,393	$	(1,846,894)
	Adjustments to reconcile net loss to
	net cash used by operating activities:
		Depreciation expense	#	9,158	#	6,673
		Value of stock options and warrants granted		14,233		103,478
		Loss on sale of assets		97,932		48,350
		Gain on settlement of debt		(307,972)		-
		Amortization of services prepaid by common stock		-		30,000
		Investments received as payment for accounts receivable		(1,305,809)		(305,750)
		Common stock issued for services		321,568		308,354
	Changes in operating assets and liabilities:
		Proceeds from bank overdraft		22,664		-
		Changes in accounts receivable	#	(25,099)	#	50,120
		Changes in prepaid expenses		(17,343)		(6,625)
		Changes in deferred revenues		(715,276)		60,290
		Changes in related party payables		268,943		680,417
		Changes in accounts payable and accrued expenses		(91,408)		852,055
		Net Cash Provided by Operating Activities		(445,016)		(19,532)
CASH FLOWS FROM
INVESTING ACTIVITIES
	Sale of securities			91,418		57,899
	Purchase of fixed assets			(3,204)		(9,329)
		Net Cash Used by Investing Activities		88,214		48,570
CASH FLOWS FROM
FINANCING ACTIVITIES
	Stock subscriptions payable			16,580		-
	Common stock issued for cash			190,000		10,000
	Contributed capital			-		19,850
		Net Cash Provided by Financing Activities		206,580		29,850
		NET DECREASE IN CASH		(150,222)		58,888
		CASH AT BEGINNING OF PERIOD		153,760		147,323
		CASH AT END OF PERIOD	$	3,538	$	206,211
SUPPLEMENTAL DISCLOSURES OF
	CASH FLOW INFORMATION
	CASH PAID FOR:
		Interest	$	45,640	$	-
		Income Taxes	$	-	$	-
	NON CASH FINANCING ACTIVITIES:
		Common stock issued for services and contributions	$	321,568	$	308,354
		Value of stock options and warrants granted	$	14,233	$	103,478

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 June

         30, 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 June 30,

         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 June 30, 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 June 30, 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

                                       10

                                 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                          (310,000)     0.15          0.15

            Exercised                        (298,650)     0.25          0.25

          Outstanding, June 30, 2008       53,121,697  $   0.36     $    0.40

          Exercisable, June 30, 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 June 30, 2008 to reflect the reversal of $2,480,201 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 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                                          $       3,538 $       3,538

     Accounts receivable                               4,486,482         6,061

     Marketable securities-available for sale          1,896,435     1,896,435

     Marketable securities-available for sale

         related party                                     2,093         2,093

     Prepaid expenses                                     18,093        18,093

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

     Total Current Assets                              6,406,641     1,926,220

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

   PROPERTY AND EQUIPMENT, net                            39,679        39,679

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

   OTHER ASSETS

     Investments, at cost                                300,000       300,000

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

               TOTAL ASSETS                        $   6,746,320 $   2,265,899

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

11

                                 ALPHATRADE.COM

                        Notes to the Financial Statements

NOTE 3 - RESTATED FINANCIAL STATEMENTS (Continued)

                                                     (Original)    (Restated)

CURRENT LIABILITIES

     Accounts payable and accrued expenses         $   2,005,442 $   2,005,442

     Bank overdraft                                       22,664        22,664

     Related party payables                            2,459,357     2,459,357

     Deferred revenues                                 1,482,437       367,817

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

       Total Current Liabilities                       5,969,900     4,855,280

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

   TOTAL LIABILITIES                                   5,969,900     4,855,280

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

   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: 51,525,523

      shares issues and outstanding                       51,526        51,526

     Stock subscription payable                           45,080        45,080

     Additional paid-in capital                       33,241,922    33,481,922

     Accumulated other comprehensive income           (1,529,552)     (620,425)

     Accumulated deficit                             (31,036,556)  (35,551,484)

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

       Total Stockholders' Equity                        776,420    (2,589,381)

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

       TOTAL LIABILITIES AND STOCKHOLDERS'

          EQUITY                                   $   6,746,320 $   2,265,899

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

   STATEMENTS OF OPERATIONS

   REVENUES

     Subscription revenue                          $   1,559,763 $   1,559,763

     Advertising revenue                               5,048,496     2,468,295

     Other revenue                                        95,144        95,144

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

       Total Revenues                                  6,703,403     4,123,202

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

   COST OF SALES

     Financial content                                   940,497       897,114

     Other cost of sales                                   2,142      ��  2,142

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

       Total Cost of Sales                               942,639       942,369

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

   GROSS PROFIT                                        5,760,764     3,180,563

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

   OPERATING EXPENSES

     Management expense                                  240,000       240,000

     Professional fees                                   667,988       667,988

     Research and development                            271,703       271,703

     Marketing expense                                   492,923       492,923

     General and administrative                          354,425       254,425

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

       Total Operating Expenses                        2,027,039     1,927,039

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

   INCOME (LOSS) FROM OPERATIONS                       3,733,725     1,253,524

                                        12

                                 ALPHATRADE.COM

                        Notes to the Financial Statements

NOTE 3 - RESTATED FINANCIAL STATEMENTS (Continued)

                                                     (Original)    (Restated)

   OTHER INCOME (EXPENSE)

     Gain (Loss) on sale of assets                       (97,932)      (97,932)

     Gain on settlement of debt                          307,972       307,972

     Interest expense                                   (180,171)     (180,171)

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

       Total Other Income (Expense)                       29,869        29,869

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

   NET INCOME BEFORE INCOME TAXES                      3,763,594     1,283,393

   INCOME TAX EXPENSE                                          -             -

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

   NET INCOME                                      $   3,763,594 $   1,283,393

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

   OTHER COMPREHENSIVE INCOME (LOSS)               $     117,979 $     117,979

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

   TOTAL COMPREHENSIVE INCOME (LOSS)               $   3,881,573 $   1,401,372

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

   BASIC EARNINGS (LOSS) PER SHARE                 $        0.08 $        0.03

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

   COMPREHENSIVE BASIC EARNINGS (LOSS)

     PER SHARE                                     $        0.08 $        0.03

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

   FULLY DILUTED INCOME (LOSS) PER SHARE           $        0.03 $        0.01

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

   COMPREHENSIVE FULLY DILUTED INCOME

     (LOSS) PER SHARE                              $        0.03 $        0.01

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

   BASIC WEIGHTED AVERAGE NUMBER

     OF SHARES OUTSTANDING                            50,065,120    50,065,120

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

   FULLY DILUTED WEIGHTED AVERAGE NUMBER

     OF SHARES OUTSTANDING                           117,950,470   117,950,470

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

                                       13

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 June 30, 2008 to reflect the reversal of $2,480,201 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 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.

THREE MONTHS ENDED JUNE 30, 2008 and 2007

During the three months ended June 30, 2008, revenue growth was driven by our increased advertising business. Revenue for 2008’s second quarter was $2,505,818, which is a 104% increase over 2007’s second quarter revenue of $1,226,605. The most substantial growth was advertising and within that category the largest increase was from referral and repeat business. Advertising revenues in the second quarter were  $1,660,240 in 2008 and $460,102 in 2007. 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 a lot of new business.

We are focused on increasing the traffic to our stable of websites to ensure our advertising clients have a large, targeted viewing audience.  We just completed a business networking site www.zenobank.com which provides a forum for companies and investors to associate using all of the modern, web-based tools available such as blogs, forums, and chat rooms.  Every public company will have complete and accurate financial data on their profile pages on ZenoBank provided by AlphaTrade to ensure they are compliant with all regulatory policies with respect to investor relations.   

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 advertising clients will get more visibility and therefore we will attract more advertising clients and the price for our advertising services could increase accordingly.  For the second quarter of 2008 our cost of sales was 18% of revenues compared to 36% in 2007. As our advertising revenues increase, this percentage may become more and more favorable in terms of profitable operations.

We realized a net income of $1,422,282 for the three months ended June 30, 2008

compared to a loss of $846,451 for the three months ended June 30, 2007. This is an increase of $2,268,733 and directly related to the referral and long term business from our established relationships with marketing and public relations firms.

During the second quarter of 2008, none of our sports partnerships were active.  In some cases, we terminated the sports sponsorship program for lack of tangible results and in some cases, we terminated due to breaches. To date in 2008 we paid a total of $100,000 to a number of our sports sponsorship programs. During 2008 we paid $258,226 to consultants for marketing fees.

Included in professional fees for 2008 are shares of common stock to investor relations consultants valued at $89,203 compared to $75,989 in 2007 and stock options to our employees valued at $-0- compared to $93,350 in 2007. The investor relations consultants bring new advertising clients to the company. We realized related party compensation expense of $120,000 for both 2008 and 2007. Our operating expenses decreased to $829,487 in 2008 from $1,578,579 in 2007 because we did not renew our sports sponsorships. 

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 June 30, 2008 and 2007 would have been $1,511,485 and ($677,112), respectively. The loss in 2007 is almost entirely due to the payments to our sports sponsorships. 

SIX MONTHS ENDED JUNE 30, 2008 AND 2007

During the six months ended June 30, 2008, revenue growth was driven by our increased advertising business. Revenue for the first half of 2008 was $4,123,202, which is a 70% increase over the revenue for the first half of 2007 of $2,417,812. The most substantial growth was advertising and within that category the largest increase was from refer ral and repeat business. Advertising revenues in the first half of 2008 was $2,468,295 compared to $858,469 in 2007. Our advertising model is strong and we expect this revenue stream to continue to build in the future.   

We are focused on increasing the traffic to our stable of websites to ensure our advertising clients have a large, targeted viewing audience.  We just completed a business networking site www.zenobank.com which provides a forum for companies and investors to associate using all of the modern, web-based tools available such as blogs, forums, and chat rooms.  Every public company will have complete and accurate financial data on their profile pages on ZenoBank to ensure they are compliant with all regulatory policies with respect to investor relations.   

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 advertising clients will get more visibility and therefore we will attract more advertising clients and the price for our advertising services could increase accordingly.  For the first half of 2008 our cost of sales was 29% of revenues compared to 37% in 2007. As our advertising revenues increase, this percentage may become more and more favorable in terms of profitable operations.

We realized a net income of $1,283,393 for the six months ended June 30, 2008

compared to a loss of $1,846,894 for the six months ended June 30, 2007. This is an increase of $3,130,287 and directly related to the referral and long term business from our established relationships with marketing and public relations firms.

During the first half of 2008, none of our sports partnerships were active.  In some cases, we terminated the sports sponsorship program for lack of tangible results and in some cases, we terminated due to breaches. To date in 2008 we paid a total of $158,445 to a number of our sports sponsorship programs. During 2008 we paid $492,923 to consultants for marketing fees.

Included in professional fees for 2008 are shares of common stock to investor relations consultants valued at $312,568 compared to $308,354 in 2007 and stock options to our employees valued at $14,233 compared to $103,478 in 2007. The investor relations consultants bring new advertising clients to the company. We realized related party compensation expense of $240,000 for both 2008 and 2007. Our operating expenses decreased to $1,927,039 in 2008 from $3,316,449 in 2007 because we did not renew our sports sponsorships. 

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 first half of 2008 and 2007 would have been $1,610,194 and ($1,435,062), respectively. The loss in 2007 is almost entirely due to the payments to our sports sponsorships. 

Liquidity and Capital Resources.

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

raising capital through private equity offerings. We used $445,016 and $19,532

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

respectively. For the six months ended June 30, 2008 and 2007 we received

cash totaling $206,580 and $29,850 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 agressively 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 Defence 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 denies the material allegations of the Complaint and intends to vigorously defend this action.

Tommy G Productions, LLC v. AlphaTrade.com,

District Court, Pueblo County, Colorado, Case No. 2008CV1008

Plaintiff Tommy G Productions (“Tommy G”) commenced this action against the Company on or about June 27, 2008 in the District Court of Pueblo County, Colorado, Case No. 2008CV1008.  In its Complaint, Tommy G alleges a cause of action arising from the alleged breach of a Sponsorship Agreement, and seeks damages of $30,000.

The Company is required to answer or move with respect to the Complaint on or before August 10, 2008.  The Company denies the 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

April/2008      10,000        Common            $0.17       For services

May/2008       520,000        Common            $0.17       For services

June/2008      415,000        Common            $0.17       For services

June/2008      300,000        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