U.S.
Securities and Exchange Commission


Washington,
D.C. 20549







FORM 10-Q/A (Amendment No.
3)







(Mark One)


x Quarterly Report
Pursuant to Section 13 or 15(d) of


the
Securities Exchange Act of 1934





For the
quarterly period ended March 31, 2008.





 ̈ Transition Report
Pursuant to Section 13 or 15(d)


of the
Securities Exchange Act





For the
transition period fromN/A toN/A










Commission
File No. 000-1321002










BRAMPTON
CREST INTERNATIONAL INC.


(Name of
small business issuer in its charter)





Nevada
                    30-0286164(State or other
                    (I.R.S. Employerjurisdiction of incorporation)
                    identification No.)





4700
Biscayne Blvd, Suite 500., Miami, FL 33137


(Address
and Zip Code of Principal Executive Offices)





Registrant's
Telephone Number: (305) 722-4800





Securities
registered under Section 12(b) of the Exchange Act:


None





Securities
registered under Section 12(g) of the Exchange Act:


Common
Stock, $0.001 par value per share


(Title of
Class)





Securities
registered under Section 12(b) of the Exchange Act:


None


Securities
registered under Section 12(g) of the Exchange Act:


Common
Stock, $0.001 par value per share


(Title
of Class)





Indicate
by check mark whether the Registrant (1) has filed all reports required 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  x
    No   ̈





Indicate
by check mark whether the Registrant is a large accelerated filer, an
accelerated filer, or a non–accelerated filer. See definition of “accelerated
filer and large accelerated filer” in Rule 12b–2 of the Exchange Act. (Check
one):





Large
      accelerated filer   ̈
                Accelerated
      filer   ̈
                Non–Accelerated
      filer   ̈  Small
      Business Issuer  x





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





Indicate
the number of shares outstanding of each of the issuer’s classes of common
stock, as of the latest practicable date.




Class
                    
                    Outstanding at October 6,
      2009Common stock, $0.001 par value
                    
                    
                    148,218,881





EXPLANATORY
NOTE:





On July
7, 2009, the Company’s Board of Directors and management determined that our
financial statements for the quarter ended March 31, 2008 could no longer be
relied upon because of a change in the accounting treatment of the Merger
discussed and accounted for in those financial statements. Note 2 of the
attached consolidated financial statements describes the revisions that have
been made to the consolidated financial statements. We have also revised “Item 2
 Management’s Discussion and Analysis of Financial Condition and Results of
Operation” to reflect those changes.  In addition, we have revised “Item 4.
 Controls and Procedures” to conform to the requirements of Item 308T(a)(1)
of Regulation S-K.





Other
than these changes, the disclosures in this amended report are as of the initial
filing date of May 15, 2008 and this report does not include subsequent
events.





Further,
as required by Rule 12b-15 under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), new certifications by our principal executive officer and
principal financial officer have been filed as exhibits to this Form 10-Q/A
under Item 6 of Part II hereof.


2





BRAMPTON
CREST INTERNATIONAL INC. AND SUBSIDIARIES





PagePart
      I. Financial InformationItem
      1. Condensed Consolidated Financial Statements and Notes to Financial
      Statements(a)
      Condensed Consolidated Balance Sheets as of March 31, 2008 and December
      31, 2007 (unaudited) -RESTATED
                  
                  4(b)
      Condensed Consolidated Statements of Operations for the Three Months Ended
      March 31, 2008 and 2007 (unaudited)
                  
                  5(c)
      Condensed Consolidated Statements of Cash Flows for the Three Months Ended
      March 31, 2008 and 2007 (unaudited) -RESTATED
                  
                  6(d)
      Notes to Condensed Consolidated Financial Statements
      (unaudited)
                  
                  7Item
      2. Management's Discussion and Analysis of Financial Condition and Results
      of Operations
                  
                  19Item
      3. Quantitative and Qualitative Disclosures About Market
    Risk
                  
                  22Item
      4. Controls and Procedures
                  
                  22Part
      II. Other Information
                  
                  22Item
      1. Legal Proceedings
                  
                  22Item
      1A. Risk Factors
                  
                  22Item
      2. Unregistered Sales of Equity Securities and Use of
    Proceeds
                  
                  26Item
      3. Defaults Upon Senior Securities
                  
                  27Item
      4. Submission of Matters to a Vote of Security Holders
                  
                  27Item
      5. Other Information
                  
                  27Item
      6. Exhibits
                  
                  27Signatures
                  
                  28


3





PART I –
FINANCIAL STATEMENTS





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


CONDENSED
CONSOLIDATED BALANCE SHEETS-RESTATED




(Unaudited)





March 31,
                                                
                                                
                                                December 31,2008
                                                
                                                
                                                2007(As Restated)
                                                
                                                
                                                (As Restated)ASSETSCURRENT
      ASSETSCash
      and cash equivalents
                                                
                                                $
                                                201,054
                                                
                                                
                                                $
                                                31,479Marketable
      Securities
                                                
                                                
                                                1,050,000
                                                
                                                
                                                
                                                350,000Note
      receivable
                                                
                                                
                                                -
                                                
                                                
                                                
                                                204,337Total
      current assets
                                                
                                                
                                                1,251,054
                                                
                                                
                                                
                                                585,816PROPERTY
      AND EQUIPMENTWebsite
      development
                                                
                                                
                                                91,118
                                                
                                                
                                                
                                                -Computer
      and software
                                                
                                                
                                                1,152
                                                
                                                
                                                
                                                848Leasehold
      improvement
                                                
                                                
                                                1,500Total
      Property and Equipment
                                                
                                                
                                                93,770
                                                
                                                
                                                
                                                848Accumulated
      depreciation
                                                
                                                
                                                (14,952
                                                )
                                                
                                                
                                                (28
                                                )Total
      property and equipment
                                                
                                                
                                                78,818
                                                
                                                
                                                
                                                820OTHER
      ASSETSPrepaid
      acquisition costs
                                                
                                                
                                                -
                                                
                                                
                                                
                                                11,622Trademarks
                                                
                                                
                                                10,650
                                                
                                                
                                                
                                                -Deposits
                                                
                                                
                                                2,250
                                                
                                                
                                                
                                                -Goodwill
                                                
                                                
                                                10,415,748
                                                
                                                
                                                
                                                -Total
      Other Assets
                                                
                                                
                                                10,428,648
                                                
                                                
                                                
                                                11,622TOTAL
      ASSETS
                                                
                                                $
                                                11,758,520
                                                
                                                
                                                $
                                                598,258LIABILITIES
      AND STOCKHOLDERS' EQUITYCURRENT
      LIABILITIESAccounts
      payable
                                                
                                                $
                                                101,743
                                                
                                                
                                                $
                                                4,061Due
      to Officer
                                                
                                                
                                                95,926
                                                
                                                
                                                
                                                -0-TOTAL
      CURRENT LIABLILITIES
                                                
                                                
                                                197,669
                                                
                                                
                                                
                                                4,061STOCKHOLDERS'
      EQUITYPreferred
      stock, $.001 par value; 25,000,000 shares authorized, -0- shares issued
      and outstanding at March 31, 2008 and December 31, 2007
                                                
                                                $
                                                -
                                                
                                                
                                                $
                                                -Common
      stock, $.001 par value; 950,000,000 shares authorized, 161,518,764 and
      51,518,764 shares issued and outstanding at March 31, 2008 and December
      31, 2007
                                                
                                                
                                                161,518
                                                
                                                
                                                
                                                51,518Additional
      paid-in capital
                                                
                                                
                                                12,489,581
                                                
                                                
                                                
                                                1,589,900Accumulated
      deficit
                                                
                                                
                                                (1,090,248
                                                )
                                                
                                                
                                                (1,047,221
                                                )Total
      stockholders' equity
                                                
                                                
                                                11,560,851
                                                
                                                
                                                
                                                594,197TOTAL
      LIABILITIES AND STOCKHOLDERS' EQUITY
                                                
                                                $
                                                11,758,520
                                                
                                                
                                                $
                                                598,258





See
accompanying notes to the unaudited Condensed Consolidated Financial
Statements


4





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS


(Unaudited)





Three Months
                                      
                                      
                                      Three MonthsEnded
                                      
                                      
                                      EndedMarch 31,
                                      
                                      
                                      March 31,2008
                                      
                                      
                                      2007SALES
                                      
                                      $
                                      -
                                      
                                      
                                      $
                                      745COST
      OF SALES
                                      
                                      
                                      -
                                      
                                      
                                      
                                      459GROSS
      PROFIT
                                      
                                      
                                      -
                                      
                                      
                                      
                                      286SELLING,
      GENERAL AND ADMINISTRATIVE EXPENSES
                                      
                                      
                                      54,560
                                      
                                      
                                      
                                      46,579LOSS
      FROM OPERATIONS
                                      
                                      
                                      (54,560
                                      )
                                      
                                      
                                      (46,293
                                      )OTHER
      INCOMEInterest
      income
                                      
                                      
                                      11,533
                                      
                                      
                                      
                                      12,203Total
      Other Income
                                      
                                      
                                      11,533
                                      
                                      
                                      
                                      12,203LOSS
      BEFORE INCOME TAXES
                                      
                                      
                                      (43,027
                                      )
                                      
                                      
                                      (34,090
                                      )INCOME
      TAX BENEFIT
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —NET
      LOSS
                                      
                                      $
                                      (43,027
                                      )
                                      
                                      $
                                      (34,090
                                      )LOSS
      PER SHARE - BASIC AND DILUTED
                                      
                                      $
                                      (-
                                      )
                                      
                                      $
                                      (-
                                      )WEIGHTED
      AVERAGE COMMON SHARES OUTSTANDING - BASIC AND DILUTED
                                      
                                      
                                      64,963,154
                                      
                                      
                                      
                                      51,518,710





See
accompanying notes to the unaudited Condensed Consolidated Financial
Statements


5





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS-RESTATED


(Unaudited)




Three Months
                                                      
                                                      
                                                      Three MonthsEnded
                                                      
                                                      
                                                      EndedMarch 31,
                                                      
                                                      
                                                      March 31,2008
                                                      
                                                      
                                                      2007(As Restated)CASH
      FLOWS FROM OPERATING ACTIVITIES:Net
      loss
                                                      
                                                      $
                                                      (43,027
                                                      )
                                                      
                                                      $
                                                      (34,090
                                                      )Adjustments
      to reconcile net loss to net cash used in operating
      activities:Depreciation
                                                      
                                                      
                                                      —
                                                      
                                                      
                                                      
                                                      60Changes
      in operating assets and liabilities:Decrease
      in assets:Inventory
                                                      
                                                      
                                                      —
                                                      
                                                      
                                                      
                                                      133Increase
      in liabilities:Accounts
      payable and accrued expenses
                                                      
                                                      
                                                      (10,149
                                                      )
                                                      
                                                      
                                                      (8,053
                                                      )Net
      Cash Used In Operating Activities
                                                      
                                                      
                                                      (53,176
                                                      )
                                                      
                                                      
                                                      (41,950
                                                      )Cash
      Flows From Investing ActivitiesMarketable
      securities purchased
                                                      
                                                      
                                                      (700,000
                                                      )
                                                      
                                                      
                                                      —Fixed
      Assets Purchased
                                                      
                                                      
                                                      (12,279
                                                      )
                                                      
                                                      
                                                      —Cash
      acquired at acquisition
                                                      
                                                      
                                                      19,349Net
      Cash Used in Investing Activities
                                                      
                                                      
                                                      (692,930
                                                      )
                                                      
                                                      
                                                      —Cash
      Flows From Financing ActivitiesPrivate
      Placement-Net of expenses
                                                      
                                                      
                                                      915,681
                                                      
                                                      
                                                      
                                                      —Net
      Cash Provided by Financing Activities
                                                      
                                                      
                                                      915,681
                                                      
                                                      
                                                      
                                                      —NET
      INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
                                                      
                                                      
                                                      169,575
                                                      
                                                      
                                                      
                                                      (41,950
                                                      )CASH
      AND CASH EQUIVALENTS, BEGINNING OF PERIOD
                                                      
                                                      
                                                      31,479
                                                      
                                                      
                                                      
                                                      864,676CASH
      AND CASH EQUIVALENTS, END OF PERIOD
                                                      
                                                      $
                                                      201,054
                                                      
                                                      
                                                      $
                                                      822,726SUPPLEMENTAL
      DISCLOSURE OF CASH FLOWS INFORMATION:SUPPLEMENTAL
      DISCLOSURE OF NONCASH ACTIVITIES:Acquisition
      of America’s Emergency Network, LLC:Fixed
      assets
                                                      
                                                      $
                                                      61,194
                                                      
                                                      
                                                      $Cash
      acquired at acquisition
                                                      
                                                      
                                                      19,349
                                                      
                                                      
                                                      
                                                      —Other
      assets
                                                      
                                                      
                                                      12,900
                                                      
                                                      
                                                      
                                                      —Loan
      payable
                                                      
                                                      
                                                      (204,337
                                                      )
                                                      
                                                      
                                                      —Officer
      loan
                                                      
                                                      
                                                      (95,926
                                                      )
                                                      
                                                      
                                                      —Accounts
      Payable
                                                      
                                                      
                                                      (108,928
                                                      )
                                                      
                                                      
                                                      —Goodwill
                                                      
                                                      
                                                      10,415,748
                                                      
                                                      
                                                      
                                                      —Common
      stock issued for acquisition
                                                      
                                                      $
                                                      10,100,000
                                                      
                                                      
                                                      $
                                                      —




See
accompanying notes to the unaudited Condensed Consolidated Financial
Statements


6





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 1 -
INTERIM FINANCIAL STATEMENTS





The
accompanying unaudited condensed consolidated financial statements include the
accounts of Brampton Crest International, Inc. and its Subsidiaries (the
“Company”), required to be consolidated in accordance with U.S. generally
accepted accounting principles (GAAP). The accompanying unaudited condensed
consolidated financial statements have been prepared in accordance with the
accounting policies described in the December 31, 2007 Form 10-K except for the
accounting policy relating to accounting for uncertainty in income taxes, and
should be read in conjunction with the consolidated financial statements and
notes thereto.





The
unaudited condensed consolidated financial statements for the three months ended
March 31, 2008 and 2007 included herein have been prepared in accordance with
the instructions for Form 10-Q under the Securities Exchange Act of 1934, as
amended, and Article 10 of Regulation S-X under the Securities Act of 1933, as
amended. Certain information and footnote disclosures normally included in
financial statements prepared in conformity with accounting principles generally
accepted in the United States of America have been condensed or omitted pursuant
to such rules and regulations relating to interim financial
statements.





In the
opinion of management, the accompanying unaudited condensed consolidated
financial statements contain only normal recurring adjustments necessary to
present fairly the Company’s financial position as of March 31, 2008, and the
results of its operations and cash flows for the three months ended March 31,
2008 and 2007. Certain prior year amounts have been restated or reclassified to
conform to the current period presentation. Operating results for the three
months ended March 31, 2008 are not necessarily indicative of the results that
may be expected for the fiscal year ending December 31, 2008.





The
Company is filing this Amendment No. 3 to its Quarterly Report on Form 10-Q
and Form 10Q/A (Amendment No.2) for the three months ended March 31, 2008 and
2007. This Amendment No. 3 is being filed to restate the Condensed
Consolidated Balance Sheet as of March 31, 2008 and December 31, 2007 and the
related Condensed Consolidated Statements Cash Flows and the accompanying
footnotes for the three months ended March 31, 2008.





BACKGROUND
OF RESTATEMENT





On July
7, 2009, management of the Company concluded that its financial statements for
the three months ended March 31, 2008 and 2007, which are included in its Form
10Q and 10Q/A for the quarter ended March 31, 2008, did not properly account for
marketable securities, goodwill and stockholders’ equity as of March 31, 2008 in
accordance with United States generally accepted accounting
principles.  Management also noted various technical issues regarding
the presentation and disclosure of the financial statements that necessitated
restatement.





NOTE 2 -
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES





BASIS OF
PRESENTATION





The
condensed consolidated financial statements are prepared in accordance with
generally accepted accounting principles in the United States of America ("US
GAAP").  The condensed consolidated financial statements of the
Company include the Company and its wholly-owned subsidiaries, America’s
Emergency Network, Inc. and Laurentian Peak Capital.  All material
intercompany balances and transactions have been eliminated





ACCOUNTING
CHANGES AND ERROR CORRECTIONS




The
Company determined that accounting errors existed in reporting the acquisition
of AEN, as a result of the Company not appropriately determining the fair value
of its common stock issued in connection with the acquisition. The Company has
restated its financial statements for the quarters ended March 31, 2008, June
30, 2008, and September 30, 2008, and for the year ended December 31, 2008, to
record goodwill on the acquisition at the excess of the fair value of the
consideration given (i.e., the common stock issued) and the liabilities assumed
over the estimated fair value of the assets acquired. The restated financial
statements include the disclosures required under SFAS No. 154, “Accounting
Changes and Error Corrections”.
 
 A revised
stock price of $0.10 per share was used for the valuation of the common stock
issued for the AEN acquisition. This price was derived from an average of the
stock price at the time of the acquisition and the stock price used in the
private placement dated March 24, 2008. This revaluation resulted in an increase
of $10 million in the purchase price of AEN, to a total consideration of
approximately $10.1 million, and a corresponding adjustment of the estimated
recoverable value of recorded goodwill from approximately $400,000 to
approximately $10.4 million.
 
 The
Company also discovered classification errors in its consolidated financial
statements for cash and cash equivalents and marketable securities. The Company
has reclassified marketable securities on its restated consolidated balance
sheets for the aforementioned reporting periods. The Company has also corrected
errors in reporting cash flow activity relative to purchases and redemptions of
marketable securities on its restated consolidated statements of cash flows for
the aforementioned reporting periods.


7





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 2 -
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)




The
following table illustrates the adjustments that were made to the amounts
reported in the 10Q and the 10Q/A (Amendment No. 1) on the balance sheet at
March 31, 2008:





Brampton
Crest International, Inc.


Condensed
Consolidated Balance Sheet (Restated)


Quarter
Ended March 31, 2008




As Restated
                                                      (Amendment
      No. 1)
                                                    
                                                    
                                                    Adjusted
                                                    
                                                    
                                                    As Restated
                                                      (Amendment
      No. 3)(Unaudited)
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    (Unaudited)ASSETSCurrent
      Assets:Cash
      and Cash Equivalents
                                                    
                                                    $
                                                    1,251,054
                                                    
                                                    
                                                    $
                                                    (1,050,000
                                                    )
                                                    
                                                    $
                                                    201,054Marketable
      Securities
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    1,050,000
                                                    
                                                    
                                                    
                                                    1,050,000Total
      Current Assets
                                                    
                                                    
                                                    1,251,054
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    1,251,054Website
      development
                                                    
                                                    
                                                    91,118
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    91,118Computer
      and software
                                                    
                                                    
                                                    1,152
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    1,152Leasehold
      improvements
                                                    
                                                    
                                                    1,500
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    1,500Property
      and Equipment
                                                    
                                                    
                                                    93,770
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    93,770Accumulated
      Depreciation
                                                    
                                                    
                                                    (14,952
                                                    )
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    (14,952
                                                    )Total
      Property and Equipment
                                                    
                                                    
                                                    78,818
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    78,818Trademarks
                                                    
                                                    
                                                    10,650
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    10,650Deposits
                                                    
                                                    
                                                    2,250
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    2,250Goodwill
                                                    
                                                    
                                                    415,748
                                                    
                                                    
                                                    
                                                    10,000,000
                                                    
                                                    
                                                    
                                                    10,415,748Total
      Other Assets
                                                    
                                                    
                                                    428,648
                                                    
                                                    
                                                    
                                                    10,000,000
                                                    
                                                    
                                                    
                                                    10,428,648TOTAL
      ASSETS
                                                    
                                                    $
                                                    1,758,520
                                                    
                                                    
                                                    $
                                                    10,000,000
                                                    
                                                    
                                                    $
                                                    11,758,520LIABILITIES
      AND STOCKHOLDERS' EQUITY
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    -Current
      Liabilities:Accounts
      Payable
                                                    
                                                    $
                                                    101,743
                                                    
                                                    
                                                    $
                                                    -
                                                    
                                                    
                                                    $
                                                    101,743Due
      to Officer
                                                    
                                                    
                                                    95,926
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    95,926Total
      Current Liabilities
                                                    
                                                    
                                                    197,669
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    197,669TOTAL
      LIABILITESStockholders'
      Equity
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    
                                                    -Preferred
      Stock
                                                    
                                                    $
                                                    —
                                                    
                                                    
                                                    $
                                                    —
                                                    
                                                    
                                                    $
                                                    —Common
      Stock
                                                    
                                                    
                                                    161,518
                                                    
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    161,518Additional
      Paid in capital
                                                    
                                                    
                                                    2,489,581
                                                    
                                                    
                                                    
                                                    10,000,000
                                                    
                                                    
                                                    
                                                    12,489,581Accumulated
      Deficit
                                                    
                                                    
                                                    (1,090,248
                                                    )
                                                    
                                                    
                                                    -
                                                    
                                                    
                                                    
                                                    (1,090,248
                                                    )Total
      Stockholders' Equity
                                                    
                                                    
                                                    1,560,851
                                                    
                                                    
                                                    
                                                    10,000,000
                                                    
                                                    
                                                    
                                                    11,560,851TOTAL
      LIABILITIES AND STOCKHOLDER’S EQUITY
                                                    
                                                    $
                                                    1,758,520
                                                    
                                                    
                                                    $
                                                    10,000,000
                                                    
                                                    
                                                    $
                                                    11,758,520




8





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 2 -
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)





ORGANIZATION
AND CAPITALIZATION





Brampton
Crest International, Inc., formerly known as Hamilton-Biophile Companies ("the
Company"), a Nevada corporation, was formerly organized as Mehl/Biophile
International Corporation. On March 22, 2000, the Company was reorganized as
Hamilton-Biophile Companies. Effective November 9, 2004, the Company changed its
name to Brampton Crest International, Inc.





BUSINESS





The
Company was originally engaged in the sale and distribution of consumer personal
care products and professional laser hair removal. Prior to the bankruptcy
filing, the Company had already lost substantially all of its assets to a
creditor and business activities were reduced to a minimum. Following the
bankruptcy and through the end of the first quarter of 2008, business activities
for the consumer personal care products continued however the anticipated
results were not successful and the Company discontinued its consumer personal
care products operations during the quarter ending June 30, 2008.





Effective
March 2, 2007, the Company announced that it had formed a wholly owned
subsidiary, White Peak Capital Group, Inc., a Florida corporation (“White Peak”)
that would focus on making secured short and medium term loans. Effective July
2007, White Peak changed its name to Laurentian Peak Capital Group
(“Laurentian”). Laurentian’s corporate structure and marketing plan remains the
same as it was with White Peak.





Laurentian
will generate its own business through an established network of finance
industry contacts developed by its management and by seeking the participation
by other originators known to the company management. Laurentian loans will be
both short and medium term., secured by accounts and trade receivables, real
estate, credit card receivables, equipment letters of credit and shares of
stock. The originators from whom Laurentian will purchase participations are
established companies known to Laurentian management. Laurentian obtained a
license as a mortgage lender and is now able to begin to implement its marketing
plan.





Acquisition of America’s
Emergency Network, LLC (“AEN”)


On March
19, 2008, the Company, America’s Emergency Network, LLC, a Florida limited
liability company, Bryan Norcross, in his capacity as a member and
representative of the members of America’s Emergency Network, LLC, Max Mayfield,
a member of America’s Emergency Network, LLC, Matthew Straeb, a member of the
America’s Emergency Network, LLC, Robert Adams, a member of America’s Emergency
Network, LLC, and Brampton Acquisition Subsidiary Corp., a Florida corporation
and a wholly owned subsidiary of the Company, entered into an Agreement and Plan
of Merger whereby America’s Emergency Network, LLC was merged into Brampton
Acquisition Subsidiary Corp. Brampton Acquisition Subsidiary Corp.’s name was
subsequently changed to America’s Emergency Network, Inc. Consequently,
America’s Emergency Network, Inc. (which contains the operating business
formerly conducted by America’s Emergency Network, LLC), continues as a wholly
owned subsidiary of the Company.




Pursuant
to the terms and conditions of the Merger Agreement, the members of America’s
Emergency Network, LLC received an aggregate of 100,000,000 shares of Company
Common Stock.




The
following table sets forth the allocation of the purchase price for tangible and
intangible assets associated with the above 2008 acquisition and acquired assets
and liabilities assumed as of March 19, 2008:




Goodwill
                        
                        $
                        10,415,748Cash
                        
                        
                        19,349Fixed
      assets
                        
                        
                        61,194Other
      assets
                        
                        
                        12,900Accounts
      payable
                        
                        
                        (108,928
                        )Officer
      advances
                        
                        
                        (95,926
                        )Loan
      payable
                        
                        
                        (204,337
                        )Common
      stock issued
                        
                        $
                        10,100,000





When
fully deployed, America's Emergency Network will link Emergency Operations
Centers (EOC's) in cities, towns, counties, school boards, and other government
entities with the general public, media outlets, first responders, and
other


9





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 2 -
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)





government
agencies. The satellite-based system will send video feeds of news
briefings by emergency officials and critical text bulletins issued at any EOC
in any location to all users instantly. The satellite-based system is designed
to operate before and after disasters, even when telephone, cell phone, and
terrestrial internet systems have failed. In addition, during “short-fuse”
emergencies (tanker accidents, bio-hazards, etc.), America's Emergency Network
will provide an instant-communications link directly to all subscribing media
outlets. Critical information will reach the public much sooner since all
subscribing media outlets will receive the text and video feeds at
once.





The
Company phased out its former operations (consisting of the marketing and sale
of consumer personal care products) during the second quarter of 2008. The
Company has completely re-focused its energies and resources into the
development of the businesses of its two operating subsidiary corporations,
Laurentian and AEN. Prior to that revenue for the cosmetics and non-prescription
dermatology products was generated through the use of one independent sales
consultant, who covered Florida. The consultant has been terminated and as sales
have been continuously lackluster, the Company has decided to re-focus its
energies and resources into the development of AEN and Laurentian’s
operations.





USE OF
ESTIMATES





The
preparation of condensed consolidated financial statements in conformity with
accounting principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosures of contingent assets and
liabilities at the date of the condensed consolidated financial statements and
the reported amount of revenues and expenses during the reported period. Actual
results could differ from those estimates.





CASH AND
CASH EQUIVALENTS





The
Company considers all highly liquid investments with an original term of three
months or less to be cash equivalents. At March 31, 2008 and December 31, 2007,
the Company had cash equivalents in the amount of approximately $201,000 and
$31,000 respectively, all in low risk investments.












CONCENTRATION
OF CREDIT RISK





Financial
instruments that potentially subject the Company to concentrations of credit
risk consist principally of cash. The Company maintains cash balances at one
financial institution, which is insured by the Federal Deposit Insurance
Corporation (“FDIC”). The FDIC insured institution insures up to $250,000 on
account balances. The amounts that are not insured by FDIC limitations are held
in short-term securities. As of March 31, 2008 and December 31, 2007, there were
approximately $1,050,000 and $350,000, respectively in these accounts. The
Company has not experienced any losses in such accounts.





ACCOUNTS
RECEIVABLE





The
Company conducts business and extends credit based on the evaluation of its
customers' financial condition. AEN extends credit generally without requiring
collateral. Laurentian may require collateral from its customers; however,
Laurentian’s primary business is making secured short and medium term loans, not
periodically extending trade credit in connection with the sale of other
products or services. Exposure to losses on receivables is expected to vary by
customer due to the financial condition of each customer. The Company monitors
credit losses and maintains allowances for anticipated losses considered
necessary under the circumstances. Recoveries of accounts previously written off
are recognized as income in the periods in which the recoveries are
made.





AEN
signed a strategic agreement with Peacock Productions, a division of NBC News,
which in turn is a division of NBC Universal, Inc., pursuant to which AEN is to
provide its expertise and experience on engineering and meteorological issues to
Peacock and NBC News. The agreement, which commenced as of July 21, 2008 and
continues through February 28, 2009, contemplates close and regular interaction
between AEN and NBCU and seeks AEN’s advice with respect to matters such as
growth opportunities in programming and technology. The agreement calls for
Peacock to pay AEN $7,500 per month for consulting services. The entire accounts
receivable balance outstanding at quarter end is for this
contract.


10





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)





IMPAIRMENT
OF LONG-LIVED ASSETS AND LONG-LIVED ASSETS TO BE DISPOSED OF





The
Company accounts for the impairment of long-lived assets in accordance with
Statement of Financial Accounting Standards No. 144, “Accounting for the
Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of”
(“SFAS No. 144”).SFAS No. 144 requires write-downs to be recorded on
long-lived assets used in operations when indicators of impairment are present
and the undiscounted cash flows estimated to be generated by those assets are
less than the assets’ carrying amount.





If the
long-lived assets are identified as being planned for disposal or sale, they
would be separately presented in the balance sheet and reported at the lower of
the carrying amount or fair value less costs to sell, and are no longer
depreciated. The assets and liabilities of a disposed group classified as held
for sale would be presented separately in the appropriate asset and liability
sections of the balance sheet. As of March 31, 2008 this does not
apply.





GOODWILL
AND OTHER INTANGIBLE ASSETS





In June
2001, the FASB issued Statement No. 142 Goodwill and Other Intangible Assets.
 This statement addresses financial accounting and reporting for acquired
goodwill and other intangible assets and supersedes APB Opinion No. 17,
Intangible Assets.  It addresses how intangible assets that are acquired
individually or with a group of other assets (but not those acquired in a
business combination) should be accounted for in financial statements upon their
acquisition.  This Statement also addresses how goodwill and other
intangible assets should be accounted for after they have been initially
recognized in the financial statements.





Goodwill
and intangible assets with indefinite useful lives are not amortized. Intangible
assets with finite useful lives are amortized generally on a straight-line basis
over the periods benefited, with a weighted average useful life of 15
years.





In
performing this assessment, management uses the income approach and the similar
transactions method of the market approach to develop the fair value of the
acquisition in order to assess its potential impairment of goodwill. The income
approach is based on a discounted cash flow model which relies on a number of
factors, including operating results, business plans, economic projections and
anticipated future cash flows. Rates used to discount future cash flows are
dependent upon interest rates and the cost of capital at a point in time. The
similar transactions method is a market approach methodology in which the fair
value of a business is estimated by analyzing the prices at which companies
similar to the subject, which are used as guidelines, have sold in controlling
interest transactions (mergers and acquisitions). Target companies are compared
to the subject company, and multiples paid in transactions are analyzed and
applied to subject company data, resulting in value indications. Comparability
can be affected by, among other things, the product or service produced or sold,
geographic markets served, competitive position, profitability, growth
expectations, size, risk perception, and capital structure. There are inherent
uncertainties related to these factors and management’s judgment in applying
them to the analysis of goodwill impairment. It is possible that assumptions
underlying the impairment analysis will change in such a manner that impairment
in value may occur in the future.




REVENUE
RECOGNITION





The
Company recognizes revenue in accordance with the Securities and Exchange
Commission, Staff Accounting Bulletin (SAB) No. 104, “Revenue Recognition” (“SAB
No. 104”). SAB 104 clarifies application of generally accepted accounting
principles related to revenue transactions. The Company also follows the
guidance in EITF Issue No. 00-21, Revenue Arrangements with Multiple
Deliverables ("EITF Issue No. 00-21"), in arrangements with multiple
deliverables.


11





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)





The
Company recognizes revenues when all of the following criteria are met: (1)
persuasive evidence of an arrangement exists, (2) delivery of products and
services has occurred, (3) the fee is fixed or determinable and (4)
collectability is reasonably assured.





The
Company receives revenue for consulting services, video streaming services,
equipment sales and leasing, installation, content licensing, and maintenance
agreements. Sales and leasing agreement terms generally are for one year,
and are renewable year to year thereafter. Revenue for consulting services
is recognized as the services are provided to customers. For upfront
payments and licensing fees related to contract research or technology, the
Company determines if these payments and fees represent the culmination of a
separate earnings process or if they should be deferred and recognized as
revenue as earned over the life of the related agreement. Milestone
payments are recognized as revenue upon achievement of contract-specified events
and when there are no remaining performance obligations. Revenues from monthly
video streaming agreements, as well as equipment maintenance, are recorded when
earned. Operating equipment lease revenues are recorded as they become due from
customers. Revenues from equipment sales and installation are recognized
when equipment delivery and installation have occurred, and when collectability
is reasonably assured.





In
certain cases, the Company enters into agreements with customers that involve
the delivery of more than one product or service. Revenue for such
arrangements is allocated to the separate units of accounting using the relative
fair value method in accordance with EITF Issue No. 00-21. The delivered item(s)
is considered a separate unit of accounting if all of the following criteria are
met: (1) the delivered item(s) has value to the customer on a standalone
basis, (2) there is objective and reliable evidence of the fair value of the
undelivered item(s) and (3) if the arrangement includes a general right of
return, delivery or performance of the undelivered item(s) is considered
probable and substantially in the control of the vendor. If all the conditions
above are met and there is objective and reliable evidence of fair value for all
units of accounting in an arrangement, the arrangement consideration is
allocated to the separate units of accounting based on their relative fair
values.





Explicit
return rights are not offered to customers; however, the Company may accept
returns in limited circumstances. There have been no returns through March 31,
2008. Therefore, a sales return allowance has not been established since
management believes returns will be insignificant.





PROPERTY
AND EQUIPMENT





Property
and equipment are stated at cost. Depreciation is computed using the
straight-line method over the estimated useful lives of the assets. Expenditures
for major betterments and additions are capitalized, while replacement,
maintenance and repairs, which do not extend the lives of the respective assets
are charged to expense currently. Any gain or loss on disposition of assets is
recognized currently in the statement of operations.





FAIR
VALUE OF FINANCIAL INSTRUMENTS





The
Company’s financial instruments consist primarily of cash, cash equivalents, and
marketable securities, accounts receivable, accounts payable, accrued expenses,
and debt. The carrying amounts of such financial instruments approximate their
respective estimated fair value due to the short-term maturities and/or
approximate market interest rates of these instruments.  The estimated
fair value is not necessarily indicative of the amounts the Company would
realize in a current market exchange or from future earnings or cash
flows.




The
Company adopted Statement of Financial Accounting Standards No. 157, Fair Value
Measurements (“SFAS 157”), which defines fair value, establishes a framework for
measuring fair value, and expands disclosures about fair value
measurements.  The standard provides a consistent definition of fair
value which focuses on an exit price that would be received upon sale of an
asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date.  The standard also prioritizes,
within the measurement of fair value, the use of market-based information over
entity specific information and establishes a three-level hierarchy for fair
value measurements based on the nature of inputs used in the valuation of an
asset or liability as of the measurement date.


12





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 2 -
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)





The
three-level hierarchy for fair value measurements is defined as
follows:




·
            Level
      1 – inputs to the valuation methodology are quoted prices (unadjusted) for
      identical assets or liabilities in active
  markets;





·
            Level
      2 – inputs to the valuation methodology include quoted prices for similar
      assets and liabilities in active markets, and inputs that are observable
      or the asset or liability other than quoted prices, either directly or
      indirectly including inputs in markets that are not considered to be
      active;





·
            Level
      3 – inputs to the valuation methodology are unobservable and significant
      to the fair value measurement




INCOME
TAXES





The
Company accounts for income taxes using SFAS No. 109, "Accounting for Income
Taxes," which requires recognition of deferred tax liabilities and assets for
expected future tax consequences of events that have been included in the
financial statements or tax returns. Under this method, deferred tax liabilities
and assets are determined based on the difference between the financial
statement and tax bases of assets and liabilities using enacted tax rates
in effect for the year in which the differences are expected to reverse. A
valuation allowance is recorded for deferred tax assets if it is more likely
than not that some portion or all of the deferred tax assets will not be
realized.





The
Company adopted Financial Accounting Standards Board (“FASB”) Interpretation No.
(FIN) 48, “Accounting for Uncertainty in Income Taxes.” FIN 48 clarifies the
accounting for uncertainty in income taxes recognized in financial statements in
accordance with SFAS No. 109, “Accounting for Income Taxes.” FIN 48 prescribes a
recognition threshold and measurement attribute for the financial statement
recognition and measurement of a tax position taken or expected to be taken in a
tax return. FIN 48 requires that the Company determine whether the benefits of
the Company’s tax positions are more likely than not of being sustained upon
audit based on the technical merits of the tax position. The provisions of FIN
48 also provide guidance on de-recognition, classification, interest and
penalties, accounting in interim periods, and disclosure. The Company did not
have any unrecognized tax benefits and there was no effect on the financial
condition or results of operations as a result of implementing FIN 48. The
Company does not have any interest and penalties in the statement of operations
for the periods ended March 31, 2008 and December 31, 2007.





In May
2007, the FASB issued FASB Staff Position No. FIN 48-1,Definition of Settlement in FASB
Interpretation No. 48   (“the FSP”). The FSP provides
guidance about how an enterprise should determine whether a tax position is
effectively settled for the purpose of recognizing previously unrecognized tax
benefits. Under the FSP, a tax position could be effectively settled on
completion of examination by a taxing authority if the entity does not intend to
appeal or litigate the result and it is remote that the taxing authority would
examine or re-examine the tax position. The Company does not expect that this
interpretation will have a material impact on its financial position, results of
operations, or cash flows.




EARNINGS
(LOSS) PER SHARE




Earnings
(loss) per share is computed in accordance with SFAS No. 128, "Earnings per
Share". Basic earnings (loss) per share is computed by dividing net income
(loss), after deducting preferred stock dividends accumulated during the period,
by the weighted-average number of shares of common stock outstanding during each
period. Diluted earnings per share is computed by dividing net income by the
weighted-average number of shares of common stock, common stock equivalents and
other potentially dilutive securities outstanding during the period. The
outstanding warrants at March 31, 2008 and March 31, 2007, respectively are
anti-dilutive and therefore are not included in earnings (loss) per
share.





The
following is a summary of the securities that could potentially dilute
basic  loss  per  share  in
the  future  that  were  not  included  in
the
computation  of  diluted  loss  per  share  because  to  do so  would  be  anti-dilutive.





Quarter
      Ended
                                            
                                            
                                            Quarter
      EndedMarch
      31,
                                            
                                            
                                            March
      31,2008
                                            
                                            
                                            2007Warrants
                                            
                                            
                                            50,100,000
                                            
                                            
                                            
                                            50,100,000Total
                                            
                                            
                                            50,100,000
                                            
                                            
                                            
                                            50,100,000


13





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 2 -
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)





ACCOUNTING
FOR STOCK-BASED COMPENSATION




The
Company adopted SFAS No. 123R, "Accounting for Stock-Based Compensation". This
statement requires a public entity to measure the cost of employee services
received in exchange for an award of equity instruments based on the grant-date
fair value of the award (with limited exceptions). That cost will be recognized
over the period during which an employee is required to provide
service.




In
addition, a public entity is required to measure the cost of employee services
received in exchange for an award of liability instruments based on its current
fair value. The fair value of that award has been remeasured subsequently at
each reporting date through the settlement date. Changes in fair value during
the requisite service period will be recognized as compensation cost over that
period.





For the
quarter ended March 31, 2008 and year ended December 31, 2007, the Company did
not grant any stock options.





NON-EMPLOYEE
STOCK BASED COMPENSATION





The cost
of stock-based compensation awards issued to non-employees for services are
recorded at either the fair value of the services rendered or the instruments
issued in exchange for such services, whichever is more readily determinable,
using the measurement date guidelines enumerated in Emerging Issues Task Force
Issue (“EITF”) 96-18, “Accounting for Equity Instruments That Are Issued to
Other Than Employees for Acquiring, or in Conjunction with Selling, Goods or
Services” (“EITF 96-18”).





COMMON
STOCK PURCHASE WARRANTS





The
Company accounts for common stock purchase warrants in accordance with the
provisions of Emerging Issues Task Force Issue (“EITF”) issue No. 00-19
“Accounting for Derivative Financial Instruments Indexed to, and Potentially
Settled in, a Company’s Own Stock” (“EITF 00-19”).  Based on the
provisions of EITF 00-19, the Company classifies as equity any contracts that
(i) require physical settlement or net-share settlement, or (ii) gives the
company a choice of net-cash settlement or settlement in its own shares
(physical settlement or net-share settlement).  The Company classifies
as assets or liabilities any contracts that (i) require net-cash settlement
(including a requirement to net cash settle the contract if an event occurs and
if that event is outside the control of the company), or (ii) give the
counterparty a choice of net-cash settlement or settlement in shares (physical
settlement or net-share settlement).





SEGMENT
INFORMATION





The
Company currently operates two business operations within its two subsidiaries,
America’s Emergency Network, Inc. (“AEN”) and Laurentian Peak Capital Group. In
2008 and 2009, all of the Company’s operations were in AEN, which is the
material segment. Laurentian’s business activities and operations were minimal
in 2008 and 2009, and its operations are not materially considered in
management’s decision making. The entire business is comprehensively managed by
a single management team that reports to the Chief Executive Officer.
Accordingly, the Company does not have separately reportable segments as defined
by Statement of Financial Accounting Standards No. 131,Disclosures about
Segments of a Enterprise and Related Information .




NOTE 3 -
RECENT ACCOUNTING PRONOUNCEMENTS





In
February 2007, the FASB issued SFAS No. 159, The Fair Value Option for Financial
Assets and Financial Liabilities. SFAS No. 159 permits entities to choose to
measure eligible financial instruments at fair value. The unrealized gains and
losses on items for which the fair value option has been elected should be
reported in earnings. The decision to elect the fair value options is determined
on an instrument by instrument basis, it should be applied to an entire
instrument, and it is irrevocable. Assets and liabilities measured at fair value
pursuant to the fair value option should be reported separately in the balance
sheet from those instruments measured using another measurement attribute. SFAS
No. 159 is effective as of the beginning of the first fiscal year that begins
after November 15, 2007. The Company has adapted SFAS No. 159 to its financial
statements. The adoption of this standard has no material effect on the
Company’s consolidated financial statements.


14





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 3 -
RECENT ACCOUNTING PRONOUNCEMENTS (CONTINUED)





In
December 2007, the FASB issued SFAS No. 141(R),“Business
Combinations,” which replaces SFAS No. 141,“ Business Combinations,”  which, among other things,
establishes principles and requirements for how an acquirer entity recognizes
and measures in its financial statements the identifiable assets acquired, the
liabilities assumed (including intangibles) and anynoncontrolling
interests in the acquired entity. SFAS No. 141(R) applies prospectively to
business combinations for which the acquisition date is on or after the
beginning of the first annual reporting period beginning on or after
December 15, 2008. We are currently evaluating what impact our adoption of
SFAS No. 141(R) will have on our financial statements.





In
December 2007, the FASB issued SFAS No. 160, “Noncontrolling Interests in
Consolidated Financial Statements, an amendment of ARB
No. 51.”  SFAS No. 160 amends ARB 51 to establish
accounting and reporting standards for the noncontrolling interest in a
subsidiary and for the deconsolidation of a subsidiary. It also amends certain
of ARB 51’s consolidation procedures for consistency with the requirements of
SFAS No. 141(R). SFAS No. 160 is effective for fiscal years, and
interim periods within those fiscal years, beginning on or after
December 15, 2008. We are currently evaluating what impact our adoption of
SFAS No. 160 will have on our financial statements.





In
December 2007, the Securities and Exchange Commission (SEC) issued
Staff Accounting Bulletin (SAB) No. 110. This guidance allows
companies, in certain circumstances, to utilize a simplified method in
determining the expected term of stock option grants when calculating the
compensation expense to be recorded under Statement of Financial Accounting
Standards (SFAS) No. 123(R),Share-Based
Payment . The simplified method can be used after December 31, 2007
only if a company’s stock option exercise experience does not provide a
reasonable basis upon which to estimate the expected option term. Through 2007,
we utilized the simplified method to determine the expected option term, based
upon the vesting and original contractual terms of the option. On
January 1, 2008, we began calculating the expected option term based on our
historical option exercise data. This change did not have a significant impact
on the compensation expense recognized for stock options granted in
2008.





In March
2008, the FASB issued SFAS No. 161, "Disclosures about Derivative
Instruments and Hedging Activities" ("SFAS No. 161"). SFAS No. 161
amends and expands the disclosure requirement for FASB Statement No. 133,
"Derivative Instruments and Hedging Activities" ("SFAS No. 133"). It
requires enhanced disclosure about (i) how and why an entity uses
derivative instruments, (ii) how derivative instruments and related hedged
items are accounted for under SFAS No. 133 and its related interpretations,
and (iii) how derivative instruments and related hedged items affect an
entity’s financial position, financial performance, and cash flows. SFAS
No. 161 is effective for the Company as of January 1,
2009.





In April
2008, FASB Staff Position No. 142-3, Determination of the Useful Life of
Intangible Assets (FSP 142-3) was issued. This standard amends the factors that
should be considered in developing renewal or extension assumptions used to
determine the useful life of a recognized intangible asset under FASB Statement
No. 142, Goodwill and Other Intangible Assets. FSP 142-3 is effective for
financial statements issued for fiscal years beginning after December 15,
2008, and interim periods within those fiscal years. Early adoption is
prohibited. The Company has not determined the impact on its financial
statements of this accounting standard.





Other
accounting standards that have been issued or proposed by the FASB or other
standards-setting bodies that do not require adoption until a future date are
not expected to have a material impact on the consolidated financial statements
upon adoption.





NOTE 4
–  RECLASSIFICATIONS





Certain
prior periods' balances have been reclassified to conform to the current
period's financial statement presentation. These reclassifications had no impact
on previously reported results of operations or stockholders'
equity.





NOTE
5 -FAIR VALUE OF FINANCIAL INSTRUMENTS




In
accordance with SFAS 157, the Company measures cash equivalents and marketable
securities at fair value.  Our cash equivalents and marketable
securities are classified within Level 1 or Level 2. This is because our cash
equivalents, marketable securities and other investments are valued using quoted
market prices or alternative pricing sources and models utilizing market
observable inputs.


15





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS




NOTE
5 -FAIR VALUE INSTRUMENTS (CONTINUED)




Assets
measured at fair value on a recurring basis are summarized
below:




Fair value measurement at reporting date usingDescription
                
                March 31,
                  2008
                
                
                Quoted Prices in Active
                  Markets for Identical Assets
                  (Level 1)
                
                
                Significant Other
                  Observable Inputs
                  (Level 2)
                
                
                Significant
                  Unobservable Inputs
                  (Level 3)AssetsCash
      equivalents:Money
      market
                
                
                201,054
                
                
                
                201,054
                
                
                
                —
                
                
                
                —Marketable
      securities:Mutual
      Funds
                
                
                1,025,000
                
                
                
                1,025,000
                
                
                
                —
                
                
                
                —Preferred/FixedRate
      CapSecurities
                
                
                25,000
                
                
                
                —
                
                
                
                25,000
                
                
                
                —Total
      assets
                
                $
                1,251,054
                
                
                $
                1,226,054
                
                
                $
                25,000
                
                
                $
                —




No other
than temporary impairments were recognized for the three months ended March 31,
2008.





NOTE 6
-INCOME TAXES





As
of March 31, 2008 the Company had Federal and state net operating
losses of approximately $5,839,000 that are subject to limitations.
The losses are available to offset future income. The net operating loss
carryforwards will expire in various years through 2028.




The  Tax  Reform  Act
of 1986 imposed substantial restrictions on the utilization of net operating
losses and tax credits in the event of an "ownership change", as defined by the
Internal Revenue Code. Federal and state net operating losses are subject to
limitations as a result of these restrictions. The Company experienced a
substantial change in ownership exceeding 50%. As a result, the Company's
ability to utilize its net operating losses against future income has been
significantly reduced.




The temporary differences that
give rise to deferred tax assets and liabilities at
year end are as follows:




March
      31,
                
                
                December
      31,2008
                
                
                2007Deferred
      tax asset due net operating losses
                
                $
                240,000
                
                
                $
                224,000Less:
      Valuation allowance
                
                
                (240,000
                )
                
                
                (224,000
                )Net
      deferred tax asset
                
                $
                —
                
                
                $
                —





In
assessing the amount of deferred tax asset to be recognized,
management considers whether it is more likely than not that some of
the losses will be used in the future.  Management expects that they
will not have benefit in the future. Accordingly, a full
valuation allowance has been established.





NOTE 7 -
COMMON STOCK


PRIVATE
PLACEMENT OFFERING




On March
24, 2008, the Company accepted subscriptions for 10,000,000 shares of common
stock, at a price of $.10 per share, resulting in gross proceeds of One Million
Dollars ($1,000,000). After legal costs and commissions the net proceeds to the
Company were approximately $915,000. No other warrants or options are associated
with the stock purchase. The common stock issued to U.S. investors was sold
based on an exemption from registration pursuant to Section 4(2) and Rule 506 of
Regulation D of the Securities Act of 1933 and the common stock issued to
non-U.S. investors was sold based on an exemption from registration pursuant to
Regulation S of the Securities Act of 1933.


16





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 7 -
COMMON STOCK (CONTINUED)


COMMON
STOCK OUTSTANDING





As of
March 31, 2008 and December 31, 2007, common stock of 950,000,000 shares was
authorized at a par value of $.001 per share. As of the respective dates the
Company had 161,518,764 and 51,518,764 shares issued and
outstanding.




STOCK
WARRANTS





As
previously discussed, the Company issued 1,666,000 stock warrants during the
year ended December 31, 2005 and 48,434,000 stock warrants during the year ended
December 31, 2007 in connection with a stock purchase agreement, private
placement offerings, and a consulting agreement.  The following represents
the stock warrant activity during the years ended December 31, 2007 and quarter
ended March 31, 2008:





WeightedAverageWarrants
                                      
                                      
                                      PriceBalance,
      12/31/06
                                      
                                      
                                      50,100,000
                                      
                                      
                                      $
                                      .001Activity:1/1/07
      to 12/31/07
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —Balance,
      12/31/07
                                      
                                      
                                      50,100,000
                                      
                                      
                                      $
                                      .001Activity:1/1/08
      to 3/31/08
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —Balance,
      3/31/08
                                      
                                      
                                      50,100,000
                                      
                                      
                                      $
                                      .001


The
Company used the Black-Scholes option pricing model to determine the fair
value of the stock grants. The assumptions were applied as follows:





Risk
      Free Interest Rate
                                    
                                    2.89
      - 3.23%Expected
      Dividend Yield
                                    
                                    0%Expected
      Option Life
                                    
                                    3
      yearsExpected
      Stock Price Volatility
                                    
                                    .01
      - .08%





NOTE 8
- ACQUISITIONS





The
summarized unaudited pro forma financial information for the quarter ended March
31, 2008 that follows assumes the acquisition of America’s Emergency Network,
LLC was consummated on January 1, 2007:





Three
      Months Ended
                                                      
                                                      
                                                      Three
      Months EndedMarch
      31, 2008
                                                      
                                                      
                                                      March
      31, 2007SALES
                                                      
                                                      $
                                                      —
                                                      
                                                      
                                                      
                                                      745COST
      OF SALES
                                                      
                                                      
                                                      —
                                                      
                                                      
                                                      
                                                      459GROSS
      PROFIT
                                                      
                                                      
                                                      —
                                                      
                                                      
                                                      
                                                      286SELLING,
      GENERAL AND ADMINISTRATIVE EXPENSES
                                                      
                                                      
                                                      114,671
                                                      
                                                      
                                                      
                                                      46,579LOSS
      FROM OPERATIONS
                                                      
                                                      
                                                      (114,671
                                                      )
                                                      
                                                      
                                                      (46,293
                                                      )OTHER
      INCOMEInterest
      income
                                                      
                                                      
                                                      11,985
                                                      
                                                      
                                                      
                                                      12,203Total
      Other Income
                                                      
                                                      
                                                      11,985
                                                      
                                                      
                                                      
                                                      12,203LOSS
      BEFORE INCOME TAXES
                                                      
                                                      
                                                      (102,686
                                                      )
                                                      
                                                      
                                                      (34,090
                                                      )INCOME
      TAX BENEFIT
                                                      
                                                      
                                                      —
                                                      
                                                      
                                                      
                                                      —NET
      LOSS
                                                      
                                                      $
                                                      (102,686
                                                      )
                                                      
                                                      $
                                                      (34,090
                                                      )LOSS
      PER SHARE - BASIC AND DILUTED
                                                      
                                                      $
                                                      (—
                                                      )
                                                      
                                                      $
                                                      (—
                                                      )WEIGHTED
      AVERAGE COMMON SHARES OUTSTANDING - BASIC AND DILUTED
                                                      
                                                      
                                                      221,854,881
                                                      
                                                      
                                                      
                                                      221,854,881


17





BRAMPTON
CREST INTERNATIONAL, INC. AND SUBSIDIARIES


NOTES TO
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS





NOTE 9 -
RELATED PARTY TRANSACTION





The
Company periodically occupies office space on an "as needed" basis in Davie,
Florida. The space is provided rent-free by the Company's Chief Financial
Officer and Board Member. Due to the limited amount of time the office space is
utilized by the Company its value is deemed to be immaterial.   The
Company’s primary place of operations is in Miami, Florida, and its
facilities are leased from unrelated third parties.





NOTE 10
- DUE TO OFFICERS





Prior to
the acquisition of AEN its President and current CEO of Brampton advanced the
Company funds for legal and other start up costs for the Company’s operations.
These advances are non-interest bearing and are expected to be paid at an
undetermined date.





NOTE 11
- PROPERTY AND EQUIPMENT





Property
and Equipment consist of the following:





Property and Equipment:
                    
                    Estimated
                      Life
                    
                    March 31, 2008
                    
                    
                    December 31, 2007Website
      development
                    
                    5
      Years
                    
                    $
                    91,118
                    
                    
                    
                    —Computer
      and software
                    
                    5
      Years
                    
                    
                    1,152
                    
                    
                    
                    848Leasehold
      improvements
                    
                    2
      Years
                    
                    
                    1,500
                    
                    
                    
                    —Total
      Property and Equipment
                    
                    
                    
                    $
                    93,770
                    
                    
                    
                    848Accumulated
      Depreciation
                    
                    
                    
                    
                    (14,952
                    )
                    
                    
                    (28
                    )Total
      Property and Equipment, Net
                    
                    
                    
                    $
                    78,818
                    
                    
                    
                    820


18





ITEM
2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS





Management's
Discussion and Analysis contains various "forward looking statements" within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended,
regarding future events or the future financial performance of the Company that
involve risks and uncertainties. Certain statements included in this Form 10-Q,
including, without limitation, statements related to anticipated cash flow
sources and uses, and words including but not limited to "anticipates",
"believes", "plans", "expects", "future" and similar statements or expressions,
identify forward looking statements. Any forward-looking statements herein are
subject to certain risks and uncertainties in the Company's business, including
but not limited to, reliance on customers and competition in its markets, market
demand, product performance, maintenance of relationships with key suppliers,
difficulties of contracting or retaining independent contractors and any changes
in current accounting rules, all of which may be beyond the control of the
Company. The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of certain factors,
including those set forth therein.





Management's
Discussion and Analysis of Results of Financial Condition and Results of
Operations ("MD&A") should be read in conjunction with the condensed
consolidated financial statements included herein. Further, this quarterly
report on Form 10-Q should be read in conjunction with the Company's Financial
Statements and Notes to Financial Statements included in Report on Form 10-KSB
for the year ended December 31, 2007.





Overview





Brampton
Crest International, Inc. ("the Company"), a Nevada corporation, was originally
organized as Selvac Corporation, a Delaware corporation. On September 28, 1982,
the Selvac Corporation restated its Certificate of Incorporation and changed its
name to Mehl/Biophile International Corporation. On March 22, 2000, the Company
reorganized as Hamilton-Biophile Companies. On November 26, 2001, the Company
re-domiciled to Nevada. Hamilton Biophile Companies changed their name to
Brampton Crest International, Inc., effective on November 9, 2004.





The
Company filed a Form 10-SB on December 16, 2004, and on May 17, 2005 became a
reporting company pursuant to the Securities Exchange Act of 1934.




The
Company's 15c-211 filed on October 3, 2005 to list its securities on the
Bulletin Board Exchange was approved on November 30, 2005 and the stock now
trades under the ticker symbol BRCI.OB.




On March
24, 2008, the Company accepted subscriptions for 10,000,000 shares of common
stock, at a price of $.10 per share, resulting in gross proceeds of One Million
Dollars ($1,000,000). After legal costs and commissions the net proceeds to the
Company were approximately $915,000. No other warrants or options are associated
with the stock purchase. The common stock issued to U.S. investors was sold
based on an exemption from registration pursuant to Section 4(2) and Rule 506 of
the Securities Act of 1933 and the common stock issued to non-U.S. investors was
sold based on an exemption from registration pursuant to Regulation S of the
Securities Act of 1933.





Business





Effective
March 2, 2007, the Company announced that it had formed a wholly owned
subsidiary, White Peak Capital Group, Inc., a Florida corporation ("White Peak")
that will focus on making secured short and medium term loans. Effective July
2007, White Peak changed its name to Laurentian Peak Capital Group
(“Laurentian”).





Laurentian
generates business through an established network of finance industry contacts
developed by its management and by seeking the participation by other
originators known to the company management. Laurentian loans will be both short
and medium term, secured by accounts and trade receivables, real estate, credit
card receivables, equipment letters of credit and shares of stock. The
originators from whom Laurentian will purchase participations are established
companies known to Laurentian management.





Laurentian
obtained a license as a mortgage lender and is now able to begin to implement
its marketing plan.





Laurentian
was initially funded by capital from BRCI. BRCI intends to raise additional
capital, and will attempt to secure bank lines of credit to further its lending
activities. However, there are no assurances or guarantees that the lines of
credit or additional capital will be achieved.




On
September 20, 2007 the Company’s subsidiary, Laurentian loaned $200,000 to
America’s Emergency Network, LLC (“AEN”) at an interest rate of 12%. During the
course of the due diligence for the loan the Company determined that a merger
with AEN was in the best interest of both parties. The loan was consolidated as
part of the acquisition of AEN.





Effective
March 19, 2008 the Company and a subsidiary acquired all the stock of America’s
Emergency Network, LLC from its four shareholders.





19




America's
Emergency Network will link Emergency Operations Centers (EOC's) in cities,
towns, counties, school boards, and other government entities with the general
public, media outlets, first responders, and other government agencies. The
satellite-based system will send video feeds of news briefings by emergency
officials and critical text bulletins issued at any EOC in any location to all
users instantly. The satellite-based system is designed to operate before and
after disasters, even when telephone, cell phone, and terrestrial internet
systems have failed. In addition, during short-fuse emergencies (tanker
accidents, bio-hazards, etc.), America's Emergency Network will provide an
instant communications link directly to all subscribing media outlets. Critical
information will reach the public much sooner since all subscribing media
outlets will receive the text and video feeds at once.





Aside
from AEN, there is no standardized, dedicated and secure distribution
infrastructure for disseminating critical information and instructions issued by
local, state and federal emergency management agencies that overcomes the delays
and incomplete-distribution limitations of the everyday news-coverage system.
Local municipalities are especially handicapped by the current system because of
the practical and physical limitations intrinsic to covering news. For example,
even major television stations do not have enough crews to cover the news
briefings that would be held in every municipality in their coverage area after
a regional disaster. However, during an emergency, each mayor or emergency
manager has valuable information to dispense – information that could be
critical to the health and safety of the residents in his/her area of
responsibility – and the volume of information that needs to be effectively
communicated has no relation to the number of reporters or crews the local
television stations has available. (This is particularly true given the
aggressive staffing cuts made at the local television level and at newspapers
and their websites in recent years.) AEN fills this large and growing gap in the
system. All municipalities, regardless of their size, will be able to
participate in the AEN emergency-information distribution system, and feeds will
be accessible by media outlets without regard to the availability of reporters,
crews or field resources.





With AEN,
for the first time emergency managers will have a direct, always-on satellite
connections to the media and the public. With AEN, broadcast television
stations, online newspapers, cellular carriers and other key media partners will
have the ability to receive live video feeds of news briefings from government
agencies – as they occur – in broadcast quality and all without the need to
deploy reporters, camera crews or satellite equipment. The general public will
receive the same briefings along with emergency bulletins via the internet and,
eventually, on dedicated cable, satellite and broadcast television channels
(AEN-TV). Additionally, the same distribution backbone will be used to develop a
for-profit, parallel system to distribute emergency information for
non-governmental organizations (such as universities and health-care
organizations) and for private businesses.





Beta
deployments of the AEN Network already are installed and operating in nine (9)
Florida governmental agencies, and an additional four (4) installations are
scheduled to be implemented during the fourth quarter of 2008. During Tropical
Storm Fay and Hurricanes Gustav, Hanna and Ike, governmental emergency
management personnel successfully used AEN to broadcast messages from the
governor of Florida and other public officials. This included storm forecasts,
evacuation plans, school closings, shelter locations and other critical
information. Applicable localized information was carried live by the South
Florida Sun-Sentinel (www.sunsentinel.com ), the Florida Times-Union (www.jacksonville.com
), the Miami Herald (www.miamiherald.com ), and the Fort Myers News-Press
(www.news-press.com). Though neither AEN nor any of these news sites actively
promoted or advertised AEN’s feeds to the public, except on the AEN’s and the
news-sites’ home pages, the information nonetheless was widely viewed. Initial
feedback throughout the beta has been very positive from our governmental and
media partners, and we have received several inquiries from additional
governmental agencies, media outlets and private companies interested in
utilizing our service – both in and out of Florida.In spite of the favorable
response to our beta program, our projected rate of revenue growth may be
adversely affected by the current downturn in the overall economy; however,
management remains optimistic and believes that overall future anticipated
demand for our services will continue to be robust. The management acknowledges
that the economic downturn has created uncertainty in both the size and
administration of governmental budgets. To that end, the Company is working with
governmental entities whose budgets have been affected to identify and acquire
additional sources of funding, as necessary, to install and maintain the AEN
system.





During
the quarter ended September 30, 2008, AEN was also nominated for ITFlorida’s
Government Technology Leadership award, and ultimately was awarded first place
during a ceremony on October 6, 2008. AEN was presented the first place prize
during a ceremony that included recognition from several prominent governmental
figures, including an administrator for the SBA and Senator Bill Nelson.
ITFlorida is a state umbrella organization comprised of public and private
technology leaders and includes advocates for sound public policy to the
Governor, the Legislature and Enterprise Florida on issues and
initiatives.





In
addition to the continued development of its network and the successful conduct
of its initial beta testing, significant progress also was achieved in other
areas during the quarter ended September 30, 2008, both strategically and
operationally.





AEN
signed a strategic agreement with Peacock Productions, a division of NBC News,
which in turn is a division of NBC Universal, Inc., pursuant to which AEN is to
provide to Peacock its expertise and experience on engineering and
meteorological issues. In return, AEN is provided with a revenue stream and an
opportunity to actively explore new potential uses and deployments of the AEN
network with industry leading, world-class brands. The agreement, which
commenced on July 21, 2008 and continues through February 28, 2009, contemplates
close and regular interaction between AEN and NBCU, and seeks AEN’s advice with
respect to matters such as growth opportunities in programming and technology.
In addition, the agreement explicitly acknowledges the parties’ intent to enter
into good faith negotiations concerning the possible integration of AEN
technology into the NBC and/or its affiliated companies, though neither party is
under any firm commitment to do so.





20




From an
operational perspective, during the quarter ended September 30, 2008 AEN leased
additional space within which it will house its headquarters through December 1,
2009. The management believes the new space is both cost-effective and
operationally conducive to the Company’s planned growth and expansion. Located
in Miami, Florida, the new space will replace the Company’s existing arrangement
pursuant to which it shares office space with an unrelated, third-party law
firm.





In
addition, during the quarter ended September 30, 2008 AEN made two strategic
hires, adding over 40 years of additional experience to AEN’s management team.
The new hires each bring a significant amount of experience in scaling growth
oriented companies, generally, and in the creation, development, licensing,
distribution and protection of digital content, specifically. With these
additions to the management team, the management will be able to more
effectively delegate day-to-day managerial responsibilities and focus on matters
more directly related to the expansion of the Company’s business and the
achievement of the Company’s strategic goals and vision. Subject to resource
availability and general business conditions, AEN plans on continuing to build
its team as it works toward emerging from a developmental stage beta to a
revenue-generating platform, particularly in the areas of sales, marketing and
engineering, with a focus on content acquisition and content
distribution.





THREE
MONTHS ENDED MARCH 31, 2008


COMPARED
TO THREE MONTHS ENDED MARCH 31, 2007





Sales
decreased from $745 for the three month period ended March 31, 2007 to $-0- for
the three month period ended March 31, 2008, primarily as a result of
re-focusing its energies and resources into the development and implementation
of AEN’s and Laurentian’s operations.





Costs of
sales decreased from $459 for the three month period ended March 31, 2007 to
$-0- for the three month period ended March 31, 2008, primarily due to the
decrease of sales of the Company's products.





Selling,
general and administrative expenses increased from $46,579 for the three month
period ended March 31, 2007 to $54,560 for the three month period ended March
31, 2008 due to costs associated with the start up of the new subsidiary
Laurentian Peak Capital and costs associated with the AEN merger.





Other
income (expenses) for the three months ended March 31, 2008 decreased by $670
due to reduction of interest income being earned on
investments.





Net loss
increased to a net loss of $43,027 for the three month period ended March 31,
2008 from net loss of $34,090 for the three month period ended March 31, 2007,
due to the above analysis of Income and Expenses.





Current
Assets





Cash and
cash equivalents increased from $31,479 on December 31, 2007 to $201,054 on
March 31, 2008, primarily as a result of the private placement transacted with
the AEN merger.





Total
assets increased from $598,258 on December 31, 2007 to $11,758,520 on March 31,
2008, primarily as a result of goodwill from the merger with AEN and private
placement in the current quarter.





Current
liabilities increased from $4,061 on December 31, 2007 to $197,669 on March 31,
2008, due to the additional accounts payable incurred by AEN prior to the merger
in the current quarter.





Liquidity
and Capital Resources.





We are
financing our operations and other working capital requirements principally from
the receipt of proceeds in the amount of $1,250,100 from a private placement of
our securities in 2004 and an additional sale of 1,666,000 units for total
proceeds of $249,900 in 2005. Also on March 24, 2008, the Company accepted
subscriptions for 10,000,000 shares of common stock, at a price of $.10 per
share, resulting in gross proceeds of One Million Dollars ($1,000,000). After
legal costs and commissions the net proceeds to the Company were approximately
$915,000. No other warrants or options are associated with the stock purchase.
The common stock issued to U.S. investors was sold based on an exemption from
registration pursuant to Section 4(2) and Rule 506 of the Securities Act of 1933
and the common stock issued to non-U.S. investors was sold based on an exemption
from registration pursuant to Regulation S of the Securities Act of
1933.




Management
intends to use the proceeds from the offering and the additional stock sale,
towards the implementation of the business plan (including finding appropriate
revenue producing business opportunity) and to provide working capital for
future expansion of the Company's operations.





21




ITEM 3. QUANTITATIVE AND QUALITATIVE
DISCLOSURES ABOUT MARKET RISK





We do not
hold any derivative instruments and do not engage in any hedging
activities.





ITEM
4. CONTROLS AND PROCEDURES




(a)
            Evaluation
      of Disclosure Controls and
Procedures




As of the
end of the period covered by this report, we conducted an evaluation, under the
supervision and with the participation of our Chief Executive Officer and Chief
Financial Officer, of our disclosure controls and procedures (as defined in Rule
13a-15(e) and Rule 15d-15(e) of the Exchange Act).  Based upon this
evaluation, our Chief Executive Officer and Chief Financial Officer concluded
that, at March 31, 2008 our disclosure controls and procedures are ineffective
to ensure that information required to be disclosed by us in the reports that we
file or submit under the Exchange Act is recorded, processed, summarized and
reported, within the time periods specified in the Commission’s rules and forms.




Management
identified the following control deficiencies that led to our assessment of the
ineffectiveness of disclosure controls and procedures: (1) an inadequate
segregation of duties consistent with control objectives; (2) insufficient
written policies and procedures for accounting and financial reporting with
respect to the requirements and application of US GAAP and SEC disclosure
requirements; and (3) ineffective controls over period end financial disclosure
and reporting processes.




(b)
            Changes
      in Internal Controls




During
the quarter ended March 31, 2008, there was no change in our internal control
over financial reporting (as such term is defined in Rule 13a-15(f) under the
Exchange Act) that has materially affected, or is reasonably likely to
materially affect, our internal control over financial reporting.





PART II
OTHER INFORMATION





ITEM 1. LEGAL PROCEEDINGS





The
Company is not a party to any litigation and, to its knowledge, no action, suit
or proceeding has been threatened against the Company.





ITEM 1A
- RISK FACTORS




POSSIBLE
“PENNY STOCK” REGULATION




Any
trading of our common stock in the Pink Sheets or on the OTC Bulletin Board may
be subject to certain provisions of the Securities Exchange Act of 1934,
commonly referred to as the “penny stock” rule.




Our
common stock is deemed to be “penny stock” as that term is defined in Rule
3a51-1 promulgated under the Securities Exchange Act of 1934. Penny stocks are
stock:




·
              With
      a price of less than $5.00 per
share;
  ·
              That
      are not traded on a “recognized” national
  exchange;
  ·
              Whose
      prices are not quoted on the Nasdaq automated quotation system (Nasdaq
      listed stock must still have a price of not less than $5.00 per share);
      or
  22
  ·
              In
      issuers with net tangible assets less than $2.0 million (if the issuer has
      been in continuous operation for at least three years) or $5.0 million (if
      in continuous operation for less than three years), or with average
      revenues of less than $6.0 million for the last three
    years.




Broker/dealers
dealing in penny stocks are required to provide potential investors with a
document disclosing the risks of penny stocks. Moreover, broker/dealers are
required to determine whether an investment in a penny stock is a suitable
investment for a prospective investor. These requirements may reduce the
potential market for our common stock by reducing the number of potential
investors. This may make it more difficult for investors in our common stock to
sell shares to third parties or to otherwise dispose of them. This could cause
our stock price to decline.


23




BECAUSE
WE ARE QUOTED ON THE OTCBB INSTEAD OF AN EXCHANGE OR NATIONAL QUOTATION SYSTEM,
OUR INVESTORS MAY HAVE A TOUGHER TIME SELLING THEIR STOCK OR EXPERIENCE NEGATIVE
VOLATILITY ON THE MARKET PRICE OF OUR STOCK.




Our
common stock is traded on the OTCBB. The OTCBB is often highly illiquid, in part
because it does not have a national quotation system by which potential
investors can follow the market price of shares except through information
received and generated by a limited number of broker-dealers that make markets
in particular stocks. There is a greater chance of volatility for securities
that trade on the OTCBB as compared to a national exchange or quotation system.
This volatility may be caused by a variety of factors, including the lack of
readily available price quotations, the absence of consistent administrative
supervision of bid and ask quotations, lower trading volume, and market
conditions. Investors in our common stock may experience high fluctuations in
the market price and volume of the trading market for our securities. These
fluctuations, when they occur, have a negative effect on the market price for
our securities. Accordingly, our stockholders may not be able to realize a fair
price from their shares when they determine to sell them or may have to hold
them for a substantial period of time until the market for our common stock
improves.





RISKS
RELATING TO OWNERSHIP OF OUR COMMON STOCK




Although
there is presently a market for our common stock, the price of our common stack
may be extremely volatile and investors may not be able to sell their shares at
or above their purchase price, or at all. We anticipate that the market may be
potentially highly volatile and may fluctuate substantially because
of:




·
              Actual
      or anticipated fluctuations in our future business and operating
      results;
 
 ·
              Changes
      in or failure to meet market
expectations;
 
 ·
              Fluctuations
      in stock market price and volume


WE
DO NOT INTEND TO PAY DIVIDENDS




We do not
anticipate paying cash dividends on our common stock in the foreseeable future.
We may not have sufficient funds to legally pay dividends. Even if funds are
legally available to pay dividends, we may nevertheless decide in our sole
discretion not to pay dividends. The declaration, payment and amount of any
future dividends will be made at the discretion of the board of directors, and
will depend upon, among other things, the results of our operations, cash flows
and financial condition, operating and capital requirements, and other factors
our board of directors may consider relevant. There is no assurance that we will
pay any dividends in the future, and, if dividends are rapid, there is no
assurance with respect to the amount of any such dividend.





FAILURE
TO ACHIEVE AND MAINTAIN EFFECTIVE INTERNAL CONTROLS IN ACCORDANCE
WITH SECTION 404 OF THE SARBANES-OXLEY ACT COULD HAVE A MATERIAL
ADVERSE EFFECT ON OUR BUSINESS AND OPERATING RESULTS.





It may be
time consuming, difficult and costly for us to develop and implement the
additional internal controls, processes and reporting procedures required by the
Sarbanes-Oxley Act. We may need to hire additional financial reporting, internal
auditing and other finance staff in order to develop and implement appropriate
additional internal controls, processes and reporting procedures. If we are
unable to comply with these requirements of the Sarbanes-Oxley Act, we may not
be able to obtain the independent accountant certifications that the
Sarbanes-Oxley Act requires of publicly traded companies.





If we
fail to comply in a timely manner with the requirements of Section 404 of the
Sarbanes-Oxley Act regarding internal control over financial reporting or to
remedy any material weaknesses in our internal controls that we may identify,
such failure could result in material misstatements in our financial statements,
cause investors to lose confidence in our reported financial information and
have a negative effect on the trading price of our common stock.





Pursuant
to Section 404 of the Sarbanes-Oxley Act and current SEC regulations, beginning
with our annual report on Form 10-K for our fiscal period ending December 31,
2007, we will be required to prepare assessments regarding internal controls
over financial reporting and beginning with our annual report on Form 10-K for
our fiscal period ending December 31, 2008, furnish a report by our management
on our internal control over financial reporting. We have begun the process of
documenting and testing our internal control procedures in order to satisfy
these requirements, which is likely to result in increased general and
administrative expenses and may shift management time and attention from
revenue-generating activities to compliance activities. While our management is
expending significant resources in an effort to complete this important project,
there can be no assurance that we will be able to achieve our objective on a
timely basis. There also can be no assurance that our auditors will be able to
issue an unqualified opinion on management's assessment of the effectiveness of
our internal control over financial reporting. Failure to achieve and maintain
an effective internal control environment or complete our Section 404
certifications could have a material adverse effect on our stock
price.




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In
addition, in connection with our on-going assessment of the effectiveness of our
internal control over financial reporting, we may discover “material weaknesses”
in our internal controls as defined in standards established by the Public
Company Accounting Oversight Board, or the PCAOB. A material weakness is a
significant deficiency, or combination of significant deficiencies, that results
in more than a remote likelihood that a material misstatement of the annual or
interim financial statements will not be prevented or detected. The PCAOB
defines “significant deficiency” as a deficiency that results in more
than a remote likelihood that a misstatement of the financial statements
that is more than inconsequential will not be prevented or
detected.





In the
event that a material weakness is identified, we will employ qualified personnel
and adopt and implement policies and procedures to address any material
weaknesses that we identify. However, the process of designing and implementing
effective internal controls is a continuous effort that requires us to
anticipate and react to changes in our business and the economic and regulatory
environments and to expend significant resources to maintain a system of
internal controls that is adequate to satisfy our reporting obligations as a
public company. We cannot assure you that the measures we will take will
remediate any material weaknesses that we may identify or that we will implement
and maintain adequate controls over our financial process and reporting in the
future.





Any
failure to complete our assessment of our internal control over financial
reporting, to remediate any material weaknesses that we may identify or to
implement new or improved controls, or difficulties encountered in their
implementation, could harm our operating results, cause us to fail to meet our
reporting obligations or result in material misstatements in our financial
statements. Any such failure could also adversely affect the results of the
periodic management evaluations of our internal controls and, in the case of a
failure to remediate any material weaknesses that we may identify, would
adversely affect the annual auditor attestation reports regarding the
effectiveness of our internal control over financial reporting that are required
under Section 404 of the Sarbanes-Oxley Act. Inadequate internal controls could
also cause investors to lose confidence in our reported financial
 information, which could have a negative effect on the trading price of
our common stock.





THE
MARKET PRICE FOR OUR COMMON SHARES IS PARTICULARLY VOLATILE GIVEN OUR STATUS AS
A RELATIVELY UNKNOWN COMPANY WITH A SMALL AND THINLY TRADED PUBLIC FLOAT,
LIMITED OPERATING HISTORY AND LACK OF PROFITS WHICH COULD LEAD TO WIDE
FLUCTUATIONS IN OUR SHARE PRICE.




The
market for our common shares is characterized by significant price volatility
when compared to seasoned issuers, and we expect that our share price will
continue to be more volatile than a seasoned issuer for the indefinite future.
The volatility in our share price is attributable to a number of factors. First,
as noted above, our common shares are sporadically and thinly traded. As a
consequence of this lack of liquidity, the trading of relatively small
quantities of shares by our shareholders may disproportionately influence the
price of those shares in either direction. The price for our shares could, for
example, decline precipitously in the event that a large number of our common
shares are sold on the market without commensurate demand, as compared to a
seasoned issuer which could better absorb those sales without adverse impact on
its share price. Secondly, we are a speculative or “risky” investment due to our
limited operating history and lack of profits to date, and uncertainty of future
market acceptance for our potential products. As a consequence of this enhanced
risk, more risk-adverse investors may, under the fear of losing all or most of
their investment in the event of negative news or lack of progress, be more
inclined to sell their shares on the market more quickly and at greater
discounts than would be the case with the stock of a seasoned issuer. Many of
these factors are beyond our control and may decrease the market price of our
common shares, regardless of our operating performance. We cannot make any
predictions or projections as to what the prevailing market price for our common
shares will be at any time, including as to whether our common shares will
sustain their current market prices, or as to what effect that the sale of
shares or the availability of common shares for sale at any time will have on
the prevailing market price.


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Shareholders
should be aware that, according to SEC Release No. 34-29093, the market for
penny stocks has suffered in recent years from patterns of fraud and abuse. Such
patterns include (1) control of the market for the security by one or a few
broker-dealers that are often related to the promoter or issuer;
(2) manipulation of prices through prearranged matching of purchases and
sales and false and misleading press releases; (3) boiler room practices
involving high-pressure sales tactics and unrealistic price projections by
inexperienced sales persons; (4) excessive and undisclosed bid-ask
differential and markups by selling broker-dealers; and (5) the wholesale
dumping of the same securities by promoters and broker-dealers after prices have
been manipulated to a desired level, along with the resulting inevitable
collapse of those prices and with consequent investor losses. Our management is
aware of the abuses that have occurred historically in the penny stock market.
Although we do not expect to be in a position to dictate the behavior of the
market or of broker-dealers who participate in the market, management will
strive within the confines of practical limitations to prevent the described
patterns from being established with respect to our securities. The occurrence
of these patterns or practices could increase the volatility of our share
price.




VOLATILITY
IN OUR COMMON SHARE PRICE MAY SUBJECT US TO SECURITIES LITIGATION, THEREBY
DIVERTING OUR RESOURCES THAT MAY HAVE A MATERIAL EFFECT ON OUR PROFITABILITY AND
RESULTS OF OPERATIONS.




As
discussed in the preceding risk factors, the market for our common shares is
characterized by significant price volatility when compared to seasoned issuers,
and we expect that our share price will continue to be more volatile than a
seasoned issuer for the indefinite future. In the past, plaintiffs have often
initiated securities class action litigation against a company following periods
of volatility in the market price of its securities. We may in the future be the
target of similar litigation. Securities litigation could result in substantial
costs and liabilities and could divert management’s attention and
resources.




OUR
BUSINESS PLAN CALLS FOR EXTENSIVE AMOUNTS OF FUNDING AND WE MAY NOT BE ABLE TO
OBTAIN SUCH FUNDING WHICH COULD ADVERSELY AFFECT OUR BUSINESS, OPERATIONS AND
FINANCIAL CONDITION.




We will
be relying on additional financing and funding. We are currently in discussions
with potential sources of financing but no definitive agreements are in place.
If we cannot achieve the requisite financing or complete the projects as
anticipated, this could adversely affect our business, the results of our
operations, prospects and financial condition.





OUR
BUSINESS PLAN RELIES ON SIGNIFICANT REVENUE FROM NATIONAL, STATE AND LOCAL
GOVERNMENTS AND REDUCTION IN GOVERNMENT REVENUE COULD EFFECT OUR BUSINESS
PLAN





A
significant portion of our business plan relies upon our ability to successfully
charge licensing and other fees to governmental agencies for our
services.    The recent worldwide financial crisis, coupled with
dramatic reductions in state revenues due to reduced property values and the
economic downturn, creates substantial additional uncertainty in both the size
and administration of governmental budgets.  In turn, our business plan may
be adversely affected if governmental budgets are reduced, if any limitations or
restrictions are placed upon the acquisition of new products or services like
ours (such as a “freeze” on new products or services) or if expenditure
priorities are changed, particularly if budgets available for emergency
management services are reduced.    We believe that our services
provide a key benefit to emergency managers and the general public,  and
that we will ultimately be able to successfully market our services on a
widespread basis  but we have no control over general economic conditions
or the administration of public funds, so the actual timing of the rate of
adoption is subject to additional uncertainty.    Should such
uncertainties otherwise adversely affect the execution of our business plan, we
will make appropriate adjustments to our plan, generally, and/or to the
execution of our plan, specifically, in light of the then-available resources,
existing prospects, and rapidly changing conditions.   By way of
example, if our adoption rates in the governmental sector are significantly
reduced, we may elect to curtail the growth of our operations, divert more
resources toward the pursuit of private sector (rather than governmental)
licensees, adjust the pricing or terms of our offerings, or any combination of
the foregoing.   In anticipation of the potential for a reduction in
the short-term revenue from our services, particularly from our governmental
prospects, we have already scaled back expenditures beyond previously planned
levels.





SHOULD
ONE OR MORE OF THE FOREGOING RISKS OR UNCERTAINTIES MATERIALIZE, OR SHOULD THE
UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY DIFFER SIGNIFICANTLY
FROM THOSE ANTICIPATED, BELIEVED, ESTIMATED, EXPECTED, INTENDED OR
PLANNED.




ITEM 2. UNREGISTERED SALES OF EQUITY
SECURITIES AND USE OF PROCEEDS





On March
24, 2008, the Company accepted subscriptions for 10,000,000 shares of common
stock, at a price of $.10 per share, resulting in gross proceeds of One Million
Dollars ($1,000,000). After legal costs and commissions the net proceeds to the
Company were approximately $915,000. The offer and sale of such shares of our
common stock were effected in reliance on the exemptions for sales of securities
not involving a public offering, as set forth in Rule 506 of Regulation D
promulgated under the Securities Act of 1933 (the “Securities Act”) and in
Section 4(2) of the Securities Act, based on the following: (a) the
investors confirmed to us that they were “accredited investors,” as defined in
Rule 501 of Regulation D promulgated under the Securities Act and had such
background, education and experience in financial and business matters as to be
able to evaluate the merits and risks of an investment in the securities;
(b) there was no public offering or general solicitation with respect to
the offering; (c) the investors were provided with certain disclosure
materials and all other information requested with respect to our company;
(d) the investors acknowledged that all securities being purchased were
“restricted securities” for purposes of the Securities Act, and agreed to
transfer such securities only in a transaction registered under the Securities
Act or exempt from registration under the Securities Act; and (e) a legend
was placed on the certificates representing each such security stating that it
was restricted and could only be transferred if subsequent registered under the
Securities Act or transferred in a transaction exempt from registration under
the Securities Act.




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ITEM
3. DEFAULTS UPON SENIOR SECURITIES




There
were no defaults upon senior securities during the period ended March 31,
2008.




ITEM
4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS





There
were no matters submitted to the vote of securities holders during the period
ended March 31, 2008.




ITEM
5. OTHER INFORMATION





None.




ITEM
6. EXHIBITS





Exhibits:




31.1
              Certification
      of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley
      Act.
 
 31.2
              Certification
      of Principal Financial and Accounting Officer Pursuant to Section 302 of
      the Sarbanes-Oxley Act.
 
 32.1
              Certification
      of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley
      Act.
 
 32.2
              Certification
      of Principal Financial and Accounting Officer Pursuant to Section 906 of
      the Sarbanes-Oxley Act.


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SIGNATURES





Pursuant
to the requirements of Section 13 or 15(b) of the Securities Exchange Act of
1934, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Miami, Florida, on
October 6, 2009.





BRAMPTON
      CREST INTERNATIONAL INC.Date:
      October 6, 2009
            By:
      /s/ Bryan NorcrossBryan
      NorcrossPresident,
      Principal Executive OfficerDate:
      October 6, 2009
            By:
      /s/ Brad HackerBrad
      HackerChief
      Financial Officer


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