|UNITED STATES 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549                                                                                                                                                                                                                                                                               
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                        
|FORM 10-Q                                                                                                                                                                                                                                                                                                                                               
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|(Mark One)                                                                                                                                                                                                                                                                                                                                              
|[X]                                                                                                                                                                                                                                                                                                                                                     
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|OR                                                                                                                                                                                                                                                                                                                                                      
|[ ]                                                                                                                                                                                                                                                                                                                                                     
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|Commission file number:  033-13474-NY                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                        
|American Home Alliance Corporation(Exact name of Registrant as specified in its charter)                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                        
|Delaware
(State or other jurisdiction of 
incorporation or organization)                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                        
|706 Orchid Drive, Suite D, Bakersfield, California  93309(Address of principal executive office - Zip Code)                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                        
|(661) 392-7982 (Registrant's telephone number, including area code)                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                        
|(Former name, former address, and former fiscal year,
if changed since last report)                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                        
|Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
|Yes  [  ]     No  [X]                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                        
|Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.                                                     
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|Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).                                                                                                                                                                                                                                        
|Yes  [X]     No  [  ]                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                        
|APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY 
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                        
|Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.                                                                                               
|Yes  [X]     No  [  ]                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                        
|APPLICABLE ONLY TO CORPORATE ISSUERS:                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                        
|Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                        
|On September 30, 2010, 3,707,500 shares of the issuer's common stock were outstanding.                                                                                                                                                                                                                                                                  



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American Home Alliance Corporation

TABLE OF CONTENTS





|                               |          |                                                                                        | Page Number                                                                                                                                                                                      
|------------------------------ | -------- | -------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                               |          |                                                                                        |                                                                                                                                                                                                  
|PART I - FINANCIAL INFORMATION |         
|                               |          |                                                                                        |                                                                                                                                                                                                  
|                               | Item 1.  | Financial Statements                                                                   |                                                                                                                                                                                                  
|                               |          | Balance Sheets                                                                         |                                                                                                                                                                                                  
|                               |          |                                                                                        | September 30, 2010 (unaudited) andDecember 31,2009                                                                                                                                               
|                               |          | Statements of Operations (unaudited)                                                   |                                                                                                                                                                                                  
|                               |          |                                                                                        | Nine Months Ended September 30, 2010 (unaudited)
          and September 30, 2009 (unaudited) and 
Three Months Ended September 30, 2010 (unaudited)
          and September 30, 2009 (unaudited)
|                               |          | Statements of Cash Flows (unaudited)                                                   |                                                                                                                                                                                                  
|                               |          |                                                                                        | Six Months Ended September 30, 2010 and September 30, 2009                                                                                                                                       
|                               |          | Notes to Financial Statements (unaudited)                                              | F 4                                                                                                                                                                                              
|                               | Item 2.  | Management's Discussion and Analysis of Financial Condition 
and Results of Operations | 11                                                                                                                                                                                               
|                               | Item 3.  | Quantitative and Qualitative Disclosures About Market Risk.                            | 13                                                                                                                                                                                               
|                               | Item 4.  | Controls and Procedures.                                                               | 17                                                                                                                                                                                               
|                               |          |                                                                                        |                                                                                                                                                                                                  
|PART II - OTHER INFORMATION    |         
|                               |          |                                                                                        |                                                                                                                                                                                                  
|                               | Item 1.  | Legal Proceedings                                                                      | 19                                                                                                                                                                                               
|                               | Item 1A. | Risk Factors.                                                                          | 19                                                                                                                                                                                               
|                               | Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                            | 20                                                                                                                                                                                               
|                               | Item 3.  | Defaults Upon Senior Securities                                                        | 20                                                                                                                                                                                               
|                               | Item 4.  | Submission of Matters to a Vote of Security Holders                                    | 20                                                                                                                                                                                               
|                               | Item 5.  | Other Information                                                                      | 20                                                                                                                                                                                               
|                               | Item 6.  | Exhibits                                                                               | 20                                                                                                                                                                                               



1



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Part I.  -  Financial Information



MATTER OF FORWARD-LOOKING STATEMENTS



THIS FORM 10-Q CONTAINS "FORWARD-LOOKING STATEMENTS" THAT CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING WORDS SUCH AS "BELIEVES," "EXPECTS," "MAY," "WILL," "SHOULD," OR "ANTICIPATES," OR THE NEGATIVE OF THESE WORDS OR OTHER VARIATIONS OF THESE WORDS OR COMPARABLE WORDS, OR BY DISCUSSIONS OF PLANS OR STRATEGY THAT INVOLVE RISKS AND UNCERTAINTIES.  MANAGEMENT WISHES TO CAUTION THE READER THAT THESE FORWARD-LOOKING STATEMENTS, INCLUDING,  BUT NOT LIMITED TO, STATEMENTS REGARDING THE COMPANY'S MARKETING PLANS, GOALS, COMPETITIVE CONDITIONS, REGULATIONS THAT AFFECT PUBLIC COMPANIES THAT HAVE NO EXISTING BUSINESS AND OTHER MATTERS THAT ARE NOT HISTORICAL FACTS ARE ONLY PREDICTIONS.  NO ASSURANCES CAN BE GIVEN THAT SUCH PREDICTIONS WILL PROVE CORRECT OR THAT THE ANTICIPATED FUTURE RESULTS WILL BE ACHIEVED.  ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY EITHER BECAUSE ONE OR MORE PREDICTIONS PROVE TO BE ERRONEOUS OR AS A RESULT OF OTHER RISKS FACING THE COMPANY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN LIGHT OF THE CAUTIONARY STATEMENTS AND IMPORTANT FACTORS DESCRIBED IN THIS FORM 10-Q FOR AMERICAN HOME ALLIANCE CORPORATION, INCLUDING, BUT NOT LIMITED TO THE MATTERS SET FORTH IN MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. THE RISKS INCLUDE, BUT ARE NOT LIMITED TO, THE RISK FACTORS AND UNCERTAINTIES SET FORTH IN ITEM 1A, RISKS ASSOCIATED WITH A SMALL COMPANY THAT IS A "SHELL COMPANY", THE COMPARATIVELY LIMITED FINANCIAL RESOURCES OF THE COMPANY, THE INTENSE COMPETITION THE COMPANY FACES FROM OTHER ESTABLISHED COMPETITORS, ANY ONE OR MORE OF THESE OR OTHER RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED, EXPRESSED, OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS.  WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT TO REFLECT EVENTS, CIRCUMSTANCES, OR NEW INFORMATION AFTER THE DATE OF THIS FORM 10-Q OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED OR OTHER SUBSEQUENT EVENTS.



As used herein, the term "the Company," "we,"  "us," and "our" refer to American Home Alliance Corporation, a Delaware corporation unless otherwise noted.



2



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Item 1.  Financial Statements



PLS CPA, A PROFESSIONAL CORP.t



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Report of Independent Registered Public Accounting Firm

To the Board of Directors of
American Home Alliance Corporation



We have reviewed the accompanying balance sheet of American Home Alliance Corporation (A Development Stage "Company") as of September 30, 2010, and the related statements of operations, and cash flows for the three and nine months ended September 30, 2010 and 2009, and for the period from January 20, 1978 (inception) through September 30, 2010. These financial statements are the responsibility of the Company's management.



We conducted our review in accordance with the standards of the Public Company Accounting Oversight Board (United States).  A review of interim financial information consists principally of applying analytical procedures to financial data and making inquiries of persons responsible for financial and accounting matters.  It is substantially less in scope than an audit conducted in accordance with the standards of the Public Company Accounting Oversight Board, the objective of which is the expression of an opinion regarding the financial statements taken as a whole.  Accordingly, we do not express such an opinion.



Based on our review, we are not aware of any material modifications that should be made to the financial statements referred to above for them to be in conformity with U.S. generally accepted accounting principles.



The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  Because of the Company's current status and limited operations there is substantial doubt about its ability to continue as a going concern.  Management's plans in regard to its current status are also described in Note 4.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.





---



Registered with the Public Company Accounting Oversight Board

3



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|AMERICAN HOME ALLIANCE CORPORATION
(A Development Stage Company)
Balance Sheets
|-------------------------------------------------------------------------------
|                                                                               
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|                                                                               
|ASSETS                                                                         
|                                                                               
|Current Assets                                                                 
|                                                                               
|                                                                               
|Total Current Assets                                                           
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)                                   
|                                                                               
|Current Liabilities                                                            
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|Total Current Liabilities                                                      
|                                                                               
|Long-Term Liabilities                                                          
|                                                                               
|Total Long-Term Liabilities                                                    
|                                                                               
|                                                                               
|                                                                               
|Stockholders' Equity (Deficit)                                                 
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|Total Stockholders' Equity (Deficit)                                           
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|                                                                               
|                                                                               

See Notes to Financial Statements
F 1

4



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|AMERICAN HOME ALLIANCE CORPORATION
(A Development Stage Company)
Statements of Operations (unaudited)
|-----------------------------------------------------------------------------------------------------
|                                                                                                     
|                                                                                                     
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|                                                                                                     
|Revenues                                                                                             
|                                                                                                     
|                                                                                                     
|Total Revenues                                                                                       
|                                                                                                     
|Operating Expenses                                                                                   
|                                                                                                     
|                                                                                                     
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|Total Operating Expenses                                                                             
|                                                                                                     
|Other Income & (Expenses)                                                                            
|                                                                                                     
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|                                                                                                     
|                                                                                                     
|Total Other Income & (Expenses)                                                                      
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|                                                                                                     
|                                                                                                     
|Net Loss                                                                                             
|                                                                                                     
|                                                                                                     
|                                                                                                     
|                                                                                                     
|                                                                                                     
|Basic loss per share                                                                                 
|                                                                                                     
|                                                                                                     
|                                                                                                     
|                                                                                                     
|                                                                                                     
|Weighted average number of 
common shares outstanding                                                
|                                                                                                     
|                                                                                                     
|                                                                                                     

See Notes to Financial Statements
F 2

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|AMERICAN HOME ALLIANCE CORPORATION
(A Development Stage Company)
Statements of Cash Flows (Unaudited)
|-----------------------------------------------------------------------------------------------------
|                                                                                                     
|                                                                                                     
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|                                                                                                     
|                                                                                                     
|                                                                                                     
|                                                                                                     
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|CASH FLOWS FROM OPERATING ACTIVITIES                                                                 
|Net income (loss)                                                                                    
|Adjustments to reconcile net income to net cash provided by (used in) operating activities:          
|Changes in operating assets and liabilities:                                                         
|Increase (decrease) in accounts payable                                                              
|Increase (decrease) in interest payable                                                              
|                                                                                                     
|Net cash provided by (used in) operating activities                                                  
|                                                                                                     
|CASH FLOWS FROM INVESTING ACTIVITIES                                                                 
|Net cash provided by (used in) investing activities                                                  
|                                                                                                     
|CASH FLOWS FROM FINANCING ACTIVITIES                                                                 
|Proceeds from issuance of common stock                                                               
|Proceeds from issuance of preferred stock                                                            
|Proceeds from issuance of paid-in capital                                                            
|Proceed (Payment) from (to) note payable - related party                                             
|                                                                                                     
|Net cash provided by (used in) financing activities                                                  
|                                                                                                     
|                                                                                                     
|Net increase (decrease) in cash                                                                      
|                                                                                                     
|Cash at beginning of period                                                                          
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|Cash at end of period                                                                                
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|SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:                                                   
|                                                                                                     
|Interest paid                                                                                        
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|                                                                                                     
|                                                                                                     
|                                                                                                     
|Income taxes paid                                                                                    
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|                                                                                                     
|                                                                                                     

See Notes to Financial Statements
F 3

6



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AMERICAN HOME ALLIANCE CORPORATION
(A Development Stage Company)
Notes to Financial Statements (Unaudited)
As of September 30, 2010



NOTE 1.  ORGANIZATION AND DESCRIPTION OF BUSINESS



American Home Alliance Corporation (the Company) was incorporated under the laws of the State of Delaware on January 20, 1987.



The Company has not generated revenues from its planned principal operations and is considered a development stage company as that term is defined by Financial Accounting Standard Board ("FASB") Accounting Standards Codification ("ASC") 915, Development Stage Entities.



NOTE 2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a.  Interim Financial Statements



The accompanying interim unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.  In our opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  Operating results for the nine month period ended September 30, 2010 are not necessarily indicative of the results that may be expected for the year ending December 31, 2010.  For further information, refer to the financial statements and footnotes thereto included in our Form 10-K Report for the fiscal year ended December 31, 2009.



b.  Basis of Accounting



The Company's financial statements are prepared using the accrual method of accounting.  The Company has elected a December 31, year-end.



c.Use of Estimates



The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the useful life and valuation of long-lived assets and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.



d.  Basic Earnings per Share



The basic earnings (loss) per share are calculated by dividing the Company's net income available to common shareholders by the weighted average number of common shares during the year. The diluted earnings (loss) per share is calculated by dividing the Company's net income (loss) available to common shareholders by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity.



Because the Company does not have any potentially dilutive securities, the accompanying presentation is only of basic loss per share. Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.



e.  Cash Equivalents



The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.



f.  Stock Based Compensation



We follow ASC 718-10, "Stock Compensation", which addresses the accounting for transactions in which an entity exchanges its equity instruments for goods or services, with a primary focus on transactions in which an entity obtains employee services in share-based payment transactions.  ASC 718-10 is a revision to SFAS No. 123, "Accounting for Stock-Based Compensation," and supersedes Accounting Principles Board ("APB") Opinion No. 25, "Accounting for Stock Issued to Employees," and its related implementation guidance.  SC 718-10 requires measurement of 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).  Incremental compensation costs arising from subsequent modifications of awards after the grant date must be recognized.  The Company has not adopted a stock option plan and has not granted any stock options.  The Company granted stock awards, at par value, to its officers, directors and advisors for services rendered in its formation.  Accordingly, stock-based compensation has been recorded to date.

F 4

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AMERICAN HOME ALLIANCE CORPORATION
(A Development Stage Company)
Notes to Financial Statements (Unaudited)
As of September 30, 2010



NOTE 2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)



g.  Income Taxes



The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns using the liability method. Under this method, deferred tax liabilities and assets are determined based on the temporary differences between the financial statement carrying amounts and tax bases of assets and liabilities using enacted rates in effect in the years during which the differences are expected to reverse and upon the possible realization of net operating loss carry-forwards. Additionally, the Company has not recognized any amount for a tax position taken or expected to be taken on its tax return, or for any interest or penalties.



h.  New Accounting Pronouncements:



In October 2009, FASB issued an amendment to the accounting standards related to the accounting for revenue in arrangements with multiple deliverables including how the arrangement consideration is allocated among delivered and undelivered items of the arrangement. Among the amendments, this standard eliminated the use of the residual method for allocating arrangement considerations and requires an entity to allocate the overall consideration to each deliverable based on an estimated selling price of each individual deliverable in the arrangement in the absence of having vendor-specific objective evidence or other third party evidence of fair value of the undelivered items. This standard also provides further guidance on how to determine a separate unit of accounting in a multiple-deliverable revenue arrangement and expands the disclosure requirements about the judgments made in applying the estimated selling price method and how those judgments affect the timing or amount of revenue recognition. The adoption of this standard has no material effect on the Company's financial statements.



In October 2009, the FASB issued an amendment to the accounting standards related to certain revenue arrangements that include software elements. This standard clarifies the existing accounting guidance such that tangible products that contain both software and non-software components that function together to deliver the product's essential functionality, shall be excluded from the scope of the software revenue recognition accounting standards. Accordingly, sales of these products may fall within the scope of other revenue recognition standards or may now be within the scope of this standard and may require an allocation of the arrangement consideration for each element of the arrangement. The adoption of this standard has no material effect on the Company's financial statements.



In January 2010, the FASB issued an amendment to ASC 820, Fair Value Measurements and Disclosure, to require reporting entities to separately disclose the amounts and business rationale for significant transfers in and out of Level 1 and Level 2 fair value measurements and separately present information regarding purchase, sale, issuance, and settlement of Level 3 fair value measures on a gross basis. The adoption of this standard has no material effect on the Company's financial statements.



In February 2010, the FASB issued ASU No. 2010-09 "Subsequent Events (ASC Topic 855) "Amendments to Certain Recognition and Disclosure Requirements" ("ASU No. 2010-09"). ASU No. 2010-09 requires an entity that is an SEC filer to evaluate subsequent events through the date that the financial statements are issued and removes the requirement for an SEC filer to disclose a date, in both issued and revised financial statements, through which the filer had evaluated subsequent events. The adoption of this standard did not have a significant impact on the Company's financial statements.



In March 2010, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2010-11 (ASU 2010-11), "Derivatives and Hedging (Topic 815): Scope Exception Related to Embedded Credit Derivatives." The amendments in this update are effective for each reporting entity at the beginning of its first fiscal quarter beginning after June 15, 2010. Early adoption is permitted at the beginning of each entity's first fiscal quarter beginning after issuance of this update. The adoption of this standard is not expected to have an impact on the Company's financial statements.



The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial statements.



NOTE 3.  WARRANTS AND OPTIONS

There are no warrants or options outstanding to acquire any additional shares of common.



NOTE 4.  GOING CONCERN



The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.  The Company generated net losses of $2,852,191 during the period from January 20, 1987 (inception) to September 30, 2010.  This condition raises substantial doubt about the Company's ability to continue as a going concern. The Company's continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability.  The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Management plans to raise additional funds through debt or equity offerings.  There is no guarantee that the Company will be able to raise any capital through any type of offerings.

F 5

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AMERICAN HOME ALLIANCE CORPORATION
(A Development Stage Company)
Notes to Financial Statements (Unaudited)
As of September 30, 2010



NOTE 5.  RELATED PARTY TRANSACTION



The Company neither owns nor leases any real or personal property.  A director provides office services without charge.  Such costs are immaterial to the financial statements and accordingly, have not been reflected therein.  The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities as they become available, such persons may face a conflict in selecting between the Company and their other business interests.  The Company has not formulated a policy for the resolution of such conflicts.



As of September 30, 2010 the Company has a note payable due to International Credit Bureau, Inc. (a related party) in the amount of $163,466.  This is an unsecured loan with an interest rate of 3%.  Total interest recorded for the nine months ended September 30, 2010 was $3,370.



NOTE 6.  INCOME TAXES



|                                | As of 
September 30, 2010
|------------------------------- | -------------------------
|                                |                          
|Deferred tax assets:            |                          
|Net operating tax carryforwards | $ 969,745                
|Other                           | -0-                      
|                                |                          
|Gross deferred tax assets       | 969,745                  
|Valuation allowance             | (969,745)                
|                                |                          
|Net deferred tax assets         | $    -0-                 
|                                |                          
|                                |                          
|                                |                          

Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carryforwards are expected to be available to reduce taxable income.  As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance.

F 6

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AMERICAN HOME ALLIANCE CORPORATION
(A Development Stage Company)
Notes to Financial Statements (Unaudited)
As of September 30, 2010



NOTE 7.  SCHEDULE OF NET OPERATING LOSSES





|1987 Through 1995 Net Operating Loss |  | $ (2,771,824)
|------------------------------------ |  | -------------
|1996 Net Operating Loss              |  | (120)        
|1997 Net Operating Loss              |  | (120)        
|1998 Net Operating Loss              |  | (192)        
|1999 Net Operating Loss              |  | (110)        
|2000 Net Operating Loss              |  | 0            
|2001 Net Operating Loss              |  | 0            
|2002 Net Operating Loss              |  | 0            
|2003 Net Operating Loss              |  | 0            
|2004 Net Operating Loss              |  | 0            
|2005 Net Operating Loss              |  | (12,796)     
|2006 Net Operating Loss              |  | (25,820)     
|2007 Net Operating Loss              |  | (7,950)      
|2008 Net Operating Loss              |  | (16,378)     
|2009 Net Operating Loss              |  | (9,604)      
|2010 Nine Months Net Operating Loss  |  | (7,277)      
|                                     |  |              
|Net Operating Loss                   |  | $ (2,852,191)
|                                     |  |              
|                                     |  |              
|                                     |  |              



As of September 30, 2010, the Company has a net operating loss carryforwards of approximately $2,852,191.  Net operating loss carryforward expires twenty years from the date the loss was incurred.



NOTE 8.  STOCK TRANSACTIONS



Transactions, other than employees' stock issuance, are in accordance with FASB ASC 505-50. Thus issuances shall be accounted for based on the fair value of the consideration received. Transactions with employee's stock issuance are in accordance with FASB ASC 718. These issuances shall be accounted for based on the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more readily determinable.



As of September 30, 2010 the Company had 3,707,500 shares of common stock issued and outstanding.



NOTE 9.  STOCKHOLDERS' EQUITY



The stockholders' equity section of the Company contains the following classes of capital stock as of September 30, 2010:



- Common stock, $ 0.001 par value: 50,000,000 shares authorized; 3,707,500 shares issued and outstanding.

F 7

10



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



Company Background



We are a Delaware corporation and we originally carried the name Imperial Group I, Ltd. ("the Company").  We were incorporated in the State of Delaware on January 20, 1987.  At the time of its formation, we sought to become a public shell and to acquire one or more operating businesses.  To this end, we conducted a self-underwritten public offering of $112,500 of its common stock commencing on September 18, 1987. Following the offering and through April 1991, we remained without any operations and was unsuccessful in acquiring any operating business.



In March 1991 we changed our corporate name to Ancona Group, Ltd. and in May 1991 our Board of Directors approved the exchange of 3,250,000 shares of the Company's common stock to acquire 100% of the outstanding common stock of Summit Fine Arts, Inc. and Valparaiso Industries, Inc. from Harlan, Michael, & Edwards ("HME").  As a result, HME held a controlling interest in the Company at that time.  Throughout the period from January 20, 1987 through December 31, 1992, we remained a development-stage company.  During the first six months of 1993, we has some limited success in selling artwork that we acquired from Summit Fine Arts, Inc.  At the time, the Company specialized in the art liquidation and brokerage and resale business.  This strategy was founded on efforts to obtain discounts from multiple art publishers that would allow the Company to offer discounts ranging from 30% to 50% on gallery art to the general public.  On June 30, 1993 and through our subsidiary, Summit Fine Arts, Inc., we liquidated all of our inventory and rights to produce art work in exchange for certain notes receivable.



Following the liquidation of its artwork assets and through an action of a majority of our stockholders on September 30, 1993, we changed our name to American Home Alliance Corporation.  Although we changed our name, we pursued a strategy of entering the business of real estate development and construction, through its wholly-owned subsidiary, Valparaiso Industries, Inc. while also pursuing potential acquisitions of one or more operating companies since we remained a public "shell company." Moreover, we are insolvent. Our Total Assets equal $20,000 as of September 30, 2010 and our Total Liabilities, as of that date, equaled $191,620. The risks of insolvency are many and our stockholders could lose all of their investment.



During 1995 through this year, we continued our existence as a "public shell" company.  As a result, we sought to either merge with or acquire an operating company with operating history and assets. The exact form and nature of any investment or activity that the Company may undertake has not yet been determined. In the Company=
s current condition, the Securities and Exchange Commission has defined and designated our company as a "blind pool" and "blank check" company with all of the unfortunate aspects of that moniker. As a result, we are subject to the provisions of Rule 144(i) of the Securities Act of 1933, as amended (the "1933 Act") and any person who purchases our common stock in any one or more unregistered "private offerings" will be unable to undertake any public re-sale of our common stock unless or until we have completed the steps necessary to "cure" our status as a "shell company" as set forth in Rule 144(i).



If we do not successfully pursue some form of operating business, then our primary activity will likely involve seeking merger or acquisition candidates with whom it can either merge or acquire.  We have not selected any company for acquisition or merger and does not intend to limit potential acquisition candidates to any particular field or industry, but does retain the right to limit acquisition or merger candidates, if it so chooses, to a particular field or industry.  Our plans remain in the conceptual stage only and we may or may not pursue any specific investments or business activity.



We will not restrict its search to any specific business, industry or geographical location, and the Company may participate in a business venture of virtually any kind or nature.  The discussion of the proposed business under this caption is purposefully general and is not meant to be restrictive of the Company's virtually unlimited discretion to search for and enter into potential business opportunities. The Company intends to obtain funds in one or more private placements to finance the operation of any acquired business.  Persons purchasing securities in these placements and other shareholders will likely not have the opportunity to participate in the decision relating to any acquisition. Our proposed business is sometimes referred to as a "blind pool" because any investors will entrust their investment monies to the Company's management before they have a chance to analyze any ultimate use to which their money may be put.  Consequently, our potential success is heavily dependent on the Company's management, which will have virtually unlimited discretion in searching for and entering into a business opportunity.  There can be no assurance that we will be able to raise any funds in private placements.



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We anticipate that it will only participate in one potential business venture which may or may not involve the residential housing industry. This lack of diversification should be considered a substantial risk in investing in the Company because it will not permit the us to offset potential losses from one venture against gains from another.



We may seek a business opportunity with a firm which only recently commenced operations, or a developing company in need of additional funds for expansion into new products or markets, or seeking to develop a new product or service, or an established business which may be experiencing financial or operating difficulties and is in the need for additional capital which is perceived to be easier to raise by a public company.  In some instances, a business opportunity may involve the acquisition or merger with a corporation which does not need substantial additional cash but which desires to establish a public trading market for its common stock.  The Company may purchase assets and establish wholly owned subsidiaries in various businesses or purchase existing businesses as subsidiaries.



We anticipate that the selection of a business opportunity in which to participate will be complex and extremely risky.  Because of general economic conditions, rapid technological advances being made in some industries, and shortages of available capital, management believes that there are numerous firms seeking the benefits of a publicly traded corporation.  Such perceived benefits of a publicly traded corporation may include facilitating or improving the terms on which additional equity financing may be sought, providing liquidity for the principals of a business, creating a means for providing incentive stock options or similar benefits to key employees, providing liquidity (subject to restrictions of applicable statutes) for all shareholders, and other factors.  Potentially available business opportunities may occur in many different industries and at various stages of development, all of which will make the task of comparative investigation and analysis of such business opportunities extremely difficult and complex.



As is customary in the industry, we may pay a finder's fee for locating an acquisition prospect.  If any such fee is paid, it will be approved by our Board of Directors and will be in accordance with the industry standards.  Such fees are customarily between 1% and 5% of the size of the transaction, based upon a sliding scale of the amount involved.  Such fees are typically in the range of 5% on a 40,000,000 transaction ratably down to 1% in a $4,000,000 transaction.



We are insolvent and we have insufficient capital with which to provide the owners of business opportunities with any significant cash or other assets.  However, management believes the Company may offer owners of business opportunities the opportunity to acquire a controlling ownership interest in a public company at substantially less cost than is required to conduct an initial public offering.



The owners of the business opportunities will, however, incur significant post-merger or acquisition registration costs in the event they wish to register a portion of their shares for subsequent sale.  The Company will also incur significant legal and accounting costs in connection with the acquisition of a business opportunity including the costs of preparing post-effective amendments, Forms 8-K, agreements and related reports and documents, nevertheless, the officers and directors of the Companies have not conducted market research and are not aware of statistical data which would support the perceived benefits of a merger or acquisition transaction for the owners of a business opportunity.

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Three Month Periods Ended September 30, 2010 and September 30, 2009



During the three months ending September 30, 2010 ("Third Quarter 2010"), we recorded no sales revenues. During this period we had no business, assets, or operations.  Similarly, during the three months ending September 30, 2009 ("Third Quarter 2009"), we recorded no sales revenues and again during Third Quarter 2009, we had no business, material assets, or operations.



During the Third Quarter 2010, we recorded $1,223 as general and administrative expense (expenses related to the maintenance of our corporate charter, accounting, administrative, and related expenses).  By comparison, during the Third Quarter 2009, we recorded $1,292 as general and administrative expenses.



During the Third Quarter 2010 we had $1,236 in Interest Expenses and during the Third Quarter 2009, we had $1,085 in Interest Expenses.



As a result, we had a $2,459 as a Net Loss during the Third Quarter 2010 compared to the Third Quarter 2009 when we had a Net Loss of $2,377.



On a per share basis, the Net Loss Per Common Share during the Third Quarter 2010 was $0 compared to the Third Quarter 2009 when the Net Loss Per Common Share was also $0.  During both periods the Company had 3,707,500 shares of its Common Stock outstanding.



Nine Months Ending September 30, 2010 and Nine Months Ending September 30, 2009



During the nine months ending September 30, 2010, ("First Nine Months 2010"), we recorded no sales revenues. During this period we had no business, assets, or operations.  Similarly, during the nine months ending September 30, 2009 ("First Nine Months 2009"), we recorded no sales revenues and again during the First Nine Months 2009, we had no business, material assets, or operations.



During the First Nine Months 2010, we recorded $3,907 as general and administrative expense (expenses related to the maintenance of our corporate charter, accounting, administrative, and related expenses).  By comparison, during the First Nine Months 2009, we recorded $3,906 as general and administrative expenses.  The larger amount incurred during the First Nine Months of 2009 was primarily the result of expenses incurred to complete certain filings and other administrative tasks during that period.



During the First Nine Months 2010 we had $3,370 in Interest Expenses but, in contrast, we had $3,221 in Interest Expense during the First Nine Months of 2009.



As a result, we had a $7,277 Net Loss during the First Nine Months 2010 compared to the First Nine Months 2009 when we had a $7,127 Net Loss.



On a per share basis, the Net Loss Per Common Share during the First Nine Months 2010 was $0 compared to the First Nine Months 2009 when the Net Loss Per Common Share was $0.  During both periods the Company had 3,707,500 shares of its Common Stock outstanding.



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Liquidity and Capital Resources

Our sole director, Lisa Norman, provides office services without charge.  Such costs are immaterial to the financial statements and accordingly, have not been reflected therein.  The officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities as they become available, such persons may face a conflict in selecting between the Company and their other business interests.  The Company has not formulated a policy for the resolution of such conflicts.



As of September 30, 2010 the Company has a note payable due to International Credit Bureau, Inc. (a related party) in the amount of $163,446.  This is an unsecured loan and the payment of interest has been waived. We are insolvent since our Total Liabilities exceed our Total Assets and we have no real liquidity and no apparent source of financing apart from the arrangement that it has established with ICBI.  On a going-forward basis, the Company anticipates that it may need as much as $15,000 to $25,000 or more annually merely to maintain the Company's existence and to pay the expenses and costs that it incurs to ensure that the Company can remain a corporate enterprise with all of the attendant responsibilities, filings, and associated documentation. For these and other reasons, the Company's management recognizes adverse difficulties and challenges it faces. Apart from the limited assurances that the Company has received from ICBI, there can be no assurance that the Company will receive any financing or funding from any source or if any financing should be obtained, that existing shareholders will not incur substantial, immediate, and permanent dilution of their existing investment.



Further, while we are insolvent, there can be no assurance that we will be successful in obtaining any additional financing, or if we receive any additional financing, that any such financing can be obtained on terms that may be deemed reasonable given our current dire insolvent financial condition.



Item 3.  Quantitative and Qualitative Disclosures About Market Risk.



Our operations and our securities are subject to a number of substantial risks, including those described below.  If any of these or other risks actually occur, our business that we may later have, financial condition and operating results, as well as the trading price or value of its securities could be materially adversely affected.  No attempt has been made to rank these risks in the order of their likelihood or potential harm.  In addition to those general risks enumerated elsewhere in the document, any purchaser of the Company's common stock should also consider the following risk factors:



1.  Comparable to a New Company:  No Revenues from Operation; Losses; Risk of Loss.  We face all of the risks inherent in a new business, coupled with the risks involved with a blind pool/blank check company.  Since the Company, subject to shareholder approval, has sold its existing businesses, there is no information at this time upon which to base an assumption that its plans will either materialize or prove successful.  Since inception we have experienced continued losses and we have no basis to believe that we will achieve any profitability in the foreseeable future. Also, we are insolvent. There can be no assurance that any of our contemplated business activities will result in any operating revenues or profits.  Investors should be aware that they may lose all or substantially all of their investment.



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2.  Dormant "Shell"Company & Potential Difficulties.



3.  No Full-Time Employees.  We have no full-time employees and management and none of its officers devote their full time to the Company's proposed business affairs.  None of our officers or directors receives a salary, but are reimbursed for any expenses they may incur in the activities of the Company.  Due to the fact that no salaries are paid to officers of the Company and that members of management are engaged in activities outside the operation of the Company, the ability and speed for the Company to effect a merger or acquisition may be significantly impaired.



4.  Reliance Upon One Officer;  Limited Time to Devote to Company Business.We are dependent upon the personal efforts and abilities of our sole officer and director, Lisa Norman, who devotes only limited time to the affairs of the Company. She has certain business experience but has almost no experience in acquisition or merger activities.  The officer and director has not agreed to expend any specific amount of time on behalf of the Company, but will devote such time as necessary to identify and consummate a merger or acquisition.



5.Auditor's Opinion:  Going Concern.  Our independent auditors have expressed substantial doubt about the Company's ability to continue as a going concern since the Company is an early-stage company, the Company has minimal assets, and there exists only a limited history of operations.



6.  Limited Financial Resources;  Need for Additional Financing.  Our financial resources are minimal.  The Company needs to obtain additional financing from the sale of the Company's Common Stock, debt, or some combination thereof in order to undertake further business plans.  The Company's ability to operate as a going concern is contingent upon its receipt of additional financing through private placements or by loans. The Company had, as of September 30, 2010 outstanding debts of $163,466 in the form of a note payable.   This note payable is to a related party. Moreover, the transactions with a related party may be viewed as transactions that are the product of a conflict of interest.  A conflict of interest arises whenever a person has an interest on both sides of a transaction.  While the Company believes that the transaction the related party were fair and reasonable and likely at no more costs than that which we may be able to obtain from an independent, unrelated third party, there can be no guarantee of that. Our business may require additional funds in the future.  There can be no assurance that if additional funds are required they will be available, or, if available, that they can be obtained on terms satisfactory to Management.  In the event the Company elects to issue stock to raise additional capital, any rights or privileges attached to such stock may either (i) dilute the percentage of ownership of the already issued common shares or (ii) dilute the value of such shares.  No rights or privileges have been assigned to the stock and any such rights and privileges will be at the total discretion of the Board of Directors of the Company.  There can be no guarantee that the Company will be able to obtain additional financing, or if successful, that it will be able to do so on terms that are reasonable in light of current market conditions.



7.  No Existing Trading Market for Common Stock.  The Company's Common Stock is currently not traded in any market.  If any trading were to commence at any time in the near future (a highly unlikely event) such trading would likely be limited to the non-OTC Pink Sheets.  In prior years trading for the stock was sporadic and there was only a limited market for the Company's Common Stock.  At the present time, there is no public market for the Company's Common Stock, and there can be no assurance that a market will in fact develop.  Even if a market does develop, it may not be sustained and, given the Company's lack of resources, there is a substantial likelihood that the Company's common stock will not to trade in any public market absent the Company receiving additional significant financial resources.



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8.  Limited Facilities and Location.  We presently maintain our principal offices at the offices of our President, Ms. Lisa Norman.  The office space is supplied at no cost.  We pay our own charges for long distance telephone calls and other miscellaneous secretarial, photocopying and similar expenses.  However, the lack of any substantial office facilities may severely limit our ability to ever undertake any implementation of our business plan or allow us to acquire or develop any business.



9.  Lack of Revenues And Development Stage "Shell" Company.  We face all of the risks inherent in a new business and we are also a "shell company" which will likely inhibit our ability to raise capital or acquire a new business.  There is no information at this time upon which to base an assumption that its plans will either materialize or prove successful.  We may or may not pursue any business in the residential housing industry.  Our present business and plans have not been determined. There can be no assurance that any of our business activities will result in any operating revenues or profits.  Investors should be aware that they may lose all or substantially all of their investment.



10.  Lack of Dividends.  We have not paid dividends and does not contemplate paying dividends in the foreseeable future.  We have only minimal assets and no operations.



11.  Competition.  We are an insignificant participant among firms which engage in business combinations with, or financing of, development stage enterprises.  There are many established management and financial consulting companies and venture capital firms which have significantly greater financial and personnel resources, technical expertise and experience than the Company.  In view of our limited financial resources and management availability, we will continue to be at significant competitive disadvantage vis-a-vis our competitors.



12.  Regulation & Taxes.  The Investment Company Act of 1940 defines an "investment company" as an issuer which is or holds itself out as being engaged primarily in the business of investing, reinvesting or trading of securities.  While the Company does not intend to engage in such activities, the Company could become subject to regulation under the Investment Company Act of 1940 in the event that we obtain or continue to hold a minority interest in a number of development stage enterprises.  We could be expected to incur significant registration and compliance costs if required to register under the Investment Company Act of 1940.  Accordingly, management will continue to review the Company's activities from time to time with a view toward reducing the likelihood the Company could be classified as an "investment company."   If circumstances allow, we intend to structure a merger or acquisition in such manner as to minimize Federal and State tax consequences to the Company and to any target company.



13.  Status as a Shell Company & Rule 144(i).We are a "shell company" as that term is defined in Rule 144(i) of the Securities Act of 1933, as amended.  As a result, unless or until we file the required "Form 10-type information" with the Commission and, at the same time, have non-cash assets (or operations) that are not nominal and thereafter for a period of at least one year after the filing of the "Form 10 type information", we will not we said to have "cured" our shell company status. Further to "cure" the shell company status, we will also need to prepare and file with the Commission all of our Form 10-Qs and our Form 10-Ks and maintain non-cash assets (or operations) that are not nominal for a period of at least one year thereafter.  For as long as we remain a "shell company," all stockholders of the Company cannot use or claim the exemption provided by Rule 144.  In effect, that means that stockholders holding restricted or control securities will not have an effective ability to undertake any public re-sale of any of our common stock.



14.  Insolvency.  Our Total Liabilities exceed our Total Assets. Thus we are insolvent.  There can be no assurance that we can avoid adverse action by any creditor which would likely result in the total loss of a stockholders' investment.



15.Risks of Low Priced Stocks.  Currently, our common stock is not trading in any market and there is no certain prospect that our common stock will regain any trading in any organized market.  In the past, our common stock had only limited and sporadic trading in the so-called "pink sheets," and before that, on "Electronic Bulletin Board."  As a result and due to the absence of a market, a shareholder may find it more difficult to dispose of, or to obtain accurate quotations as to the price of, the Company's securities.  In the absence of a security being quoted on NASDAQ, or the Company having $2,000,000 in net tangible assets, trading in the Common Stock is covered by Rule 3a51-1 promulgated under the Securities Exchange Act of 1934 for non-NASDAQ and non-exchange listed securities.  Under such rule, broker/dealers who recommend such securities to persons other than established customers and accredited investors (generally institutions with assets in excess of $5,000,000 or individuals with net worth in excess of $1,000,000 or an annual income exceeding $200,000 or $300,000 jointly with their spouse) must make a special written suitability determination for the purchaser and receive the purchaser's written agreement to a transaction prior to sale.

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Securities are also exempt from this rule if the market price is at least $5.00 per share, or for warrants, if the warrants have an exercise price of at least $5.00 per share.  The Securities Enforcement and Penny Stock Reform Act of 1990 requires additional disclosure related to the market for penny stocks and for trades in any stock defined as a penny stock.  The Commission has recently adopted regulations under such Act which define a penny stock to be any NASDAQ or non-NASDAQ equity security that has a market price or exercise price of less than $5.00 per share and allow for the enforcement against violators of the proposed rules.



In addition, unless exempt, the rules require the delivery, prior to any transaction involving a penny stock, of a disclosure schedule prepared by the Commission explaining important concepts involving the penny stock market, the nature of such market, terms used in such market, the broker/dealer's duties to the customer, a toll-free telephone number for inquiries about the broker/dealer's disciplinary history, and the customer's rights and remedies in case of fraud or abuse in the sale.



Disclosure also must be made about commissions payable to both the broker/dealer and the registered representative, current quotations for the securities, and if the broker/dealer is the sole market-maker, the broker/dealer must disclose this fact and its control over the market.



Finally, monthly statements must be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stocks.  While many NASDAQ stocks are covered by the proposed definition of penny stock, transactions in NASDAQ stock are exempt from all but the sole market-maker provision for (i) issuers who have $2,000,000 in tangible assets ($5,000,000 if the issuer has not been in continuous operation for three years), (ii) transactions in which the customer is an institutional accredited investor and (iii) transactions that are not recommended by the broker/dealer.  In addition, transactions in a NASDAQ security directly with the NASDAQ market-maker for such securities, are subject only to the sole market-maker disclosure, and the disclosure with regard to commissions to be paid to the broker/dealer and the registered representatives.



Finally, all NASDAQ securities are exempt if NASDAQ raised its requirements for continued listing so that any issuer with less then $2,000,000 in net tangible assets or stockholder's equity would be subject to delisting.  These criteria are more stringent than the proposed increased in NASDAQ's maintenance requirements.



The Company's securities are subject to the above rules on penny stocks and the market liquidity for the Company's securities could be severely affected by limiting the ability of broker/dealers to sell the Company's securities.

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Item 4.  Controls and Procedures.



Evaluation of Disclosure Controls and Procedures



We conducted an evaluation under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures.  The term "disclosure controls and procedures," as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as amended ("Exchange Act"), means controls and other procedures of a company that are designed to ensure that information required to be disclosed by the company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms.  Disclosure controls and procedures also include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company's management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate, to allow timely decisions regarding required disclosure.  Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded as of September 30, 2010, that our disclosure controls and procedures are effective to a reasonable assurance level of achieving such objectives.  However, it should be noted that the design of any system of controls is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions, regardless of how remote.



Management's Report on Internal Control Over Financial Reporting



Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act.  Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.  The internal controls for the Company are provided by executive management's review and approval of all transactions.  Our internal control over financial reporting also includes those policies and procedures that:

(1)  pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;



(2)  provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. GAAP, and that our receipts and expenditures are being made only in accordance with the authorization of our management; and



(3)  provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Management assessed the effectiveness of the Company's internal control over financial reporting as of December 31, 2009.  In making this assessment, management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework.  Management's assessment included an evaluation of the design of our internal control over financial reporting and testing of the operational effectiveness of these controls.



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Based on this assessment, management has concluded that as of December 31, 2009, our internal control over financial reporting was effective to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles.



This annual report does not include an attestation report of the Company's registered public accounting firm regarding internal control over financial reporting.  Management's report was not subject to attestation by the Company's registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only management's report in this annual report.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting during our fiscal quarter ended September 30, 2010 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION





|Item 1.                                     | Legal Proceedings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                            | None.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Item 1A.                                    | Risk Factors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | In addition to the risks and uncertainties set forth above in Item 3, we are also subject to other risks and uncertainties relating to our status as a "shell company" and our limited managerial and financial resources.  These risks and uncertainties are largely beyond our control but include the following:                                                                                                                                                                                                                                                                                                                                                                              
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | We are a "shell company" and we will likely require significant additional capital.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | If we to acquire an existing business or finance a proposed business that we develop, we will likely require a significant amount of additional capital.  We cannot assure you that we can obtain additional capital or, if we do, that we can obtain it in a timely fashion and on terms that are reasonable in light of our current circumstances.                                                                                                                                                                                                                                                                                                                                             
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | We have limited management and limited staff resources to manage our business.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | We have one officer and one director, Lisa Norman, and we have no present plans to increase our management and staff at the present time.  While we believe that this policy is prudent and appropriate in our circumstances, the lack of additional officers, directors, and additional support staff serves to limit our ability to conduct in-depth evaluations of our business, our strategy, our competitive environment, and other critical aspects of our business.  As a result, we may be successful in correctly identifying competitive and industry trends or, for that matter, in  developing strategies that will respond effectively to the ever-changing competitive environment.
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | We have no "key man" life insurance on the life of Lisa Norman.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | Currently, we maintain no "key man" life insurance on the life of Lisa Norman and we have no plans to purchase any such insurance in the future.  In the event that Ms. Norman becomes ill or incapacitated or in the event of her death, we may be exposed to significant and protracted losses.                                                                                                                                                                                                                                                                                                                                                                                                
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|Risks Related to the Company's Common Stock
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | Our Common Stock is not currently in any market and there can be no assurance that it will ever regain any tradability in any established trading market.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | Our Common Stock is not traded anywhere and there can be no assurance that it will ever regain any tradability in any market. This will likely continue to limit the attractiveness of our Common Stock and also limit the interest that investors and the overall market may have in our Common Stock.  For these and other reasons, we cannot assure you that our stock will ever increase in value.                                                                                                                                                                                                                                                                                           
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | We are an insolvent "shell company" and the securities of shell companies are not viewed as viable investments.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                            | We are still an insolvent "shell company" (as that term is used in Rule 405 of the Securities Act of 1933 and Rule 12b-2 of the Securities Exchange Act of 1934).  We have almost no assets and no business.  Our future is subject to many risks and uncertainties and the future course of our company and the market price of the Company's Common Stock can not be predicted or evaluated in any historical context.  For these reasons alone, the purchase of our Common Stock should be viewed as "HIGH RISK" and as an appropriate investment reserved exclusively for persons who can afford the total loss of their entire investment.                                                  

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|Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds
|------- | -----------------------------------------------------------
|        | None.                                                      
|        |                                                            
|Item 3. | Defaults Upon Senior Securities                            
|        | None.                                                      
|        |                                                            
|Item 4. | Submission of Matters to a Vote of Security Holders        
|        | None.                                                      
|        |                                                            
|Item 5. | Other Information                                          
|        | None.                                                      
|        |                                                            
|Item 6. | Exhibits.                                                  
|        |                                                            
|        | Number                                                     
|        | 31.1                                                       
|        | 31.2                                                       
|        | 32.1                                                       
|        | 32.2                                                       



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SIGNATURE









|                    | American Home Alliance Corporation                
|------------------- | --------------------------------------------------
|                    |                                                   
|Date:  July 8, 2013 | /s/ Lisa NormanLISA NORMAN
Chief Executive Officer
|                    |                                                   
|Date:  July 8, 2013 | /s/ Lisa NormanLISA NORMAN
Chief FinancialOfficer 



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