##### Table of Contents

UNITED STATESSECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q/A
  [×]
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended  September 30, 2009   or[   ]
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from  to Commission File Number: 000-25631
  ALPHATRADE.COM
 (Exact name of registrant as specified in its charter)
  NEVADA
    
    98-0211652(State or other jurisdiction
    
    (IRS Employerof incorporation)
    
    Identification Number)
 SUITE 116 - 930 WEST 1ST STREET, NORTH VANCOUVER, BRITISH COLUMBIA Canada Canada
    
    V7P 3N4(Address of principal executive offices)
    
    (Zip Code)
 (604) 986-9866  Registrants telephone number, including area code
 Not Applicable  (Former Name or Former Address, if Changed Since Last Report)
 ×
  [  ]
    
    Large accelerated filer
	
	[  ]
    
    Accelerated filer[  ]
    
    Non-accelerated filer
	
	[×]
    
    Smaller reporting company
 ×


TABLE OF CONTENTS


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|Signatures                                                                  
|EXHIBIT INDEX                                                               
|EX-31.1  Certifications required under Section 302 of the Sarbanes-Oxley Act
|EX-31.2  Certifications required under Section 302 of the Sarbanes-Oxley Act
|EX-32.1  Certifications required under Section 906 of the Sarbanes-Oxley Act
|EX-32.2  Certifications required under Section 906 of the Sarbanes-Oxley Act

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##### Table of Contents




Report on Form 10-Q

For the Quarter Ended September 30, 2009



INDEX



Page

----

Part I.  Financial Information



Item 1.      Financial Statements.................................. 3

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

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

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

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

Notes to the Financial Statements .................10-15





Item 2.      Management's Discussion and Analysis

or Plan of Operation ............................16-18



Item 3.      Controls and Procedures.............................. 18





Part II. Other Information



Item 1.      Legal Proceedings..................................18-19



Item 2.      Changes in Securities ............................... 19



Item 3.      Defaults Upon Senior Securities ..................... 19



Item 4.      Submission of Matters to a Vote of Security Holders.. 19



Item 5.      Other Information.................................... 19



Item 6.      Exhibits and Reports on Form 8-K..................... 19



Signatures........................................... 20



Certifications.......................................









































2



PART I - FINANCIAL INFORMATION



Item 1.  Financial Statements



ALPHATRADE.COM

Balance Sheets





ASSETS

------

September 30, December 31,

2009          2008

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

(Unaudited)   (Restated)

CURRENT ASSETS



Cash                                               $      9,208  $     55,650

Accounts receivable, net                                  1,152     1,172,064

Marketable securities-available for sale                528,608     1,558,876

Marketable securities-available for sale

related party                                               -         2,093

Prepaid expenses                                          3,000         1,000

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

Total Current Assets                                 541,968     2,789,683

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

PROPERTY AND EQUIPMENT, net                               31,399        45,776

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

TOTAL ASSETS                                    $    573,367  $  2,835,459

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



























































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



3



ALPHATARADE.COM

Balance Sheets





LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)

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

September 30, December 31,

2009          2008

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

(Unaudited)   (Restated)



CURRENT LIABILITIES



Accounts payable and accrued expenses              $  1,159,484  $  2,161,854

Bank overdraft                                           34,764             -

Related party payables                                2,373,751     2,746,262

Deferred revenues                                       573,583       737,010

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

Total Current Liabilities                          4,141,582     5,645,126

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

TOTAL LIABILITIES                                      4,141,582     5,645,126

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

COMMITMENTS AND CONTINGENCIES                                  -             -



STOCKHOLDERS' (DEFICIT)



Preferred shares: $0.001 par value, 10,000,000

shares authorized: 2,000,000 Class A and 2,000,000

Class B shares issues and outstanding                    4,000         4,000

Common shares: $0.001 par value, 100,000,000 shares

authorized: 53,756,023 and 54,076,023 shares

issued and outstanding, respectively                    53,756        54,076

Stock subscription payable                               45,080        45,080

Additional paid-in capital                           34,606,348    33,921,184

Accumulated other comprehensive income               (1,007,665)      (40,543)

Accumulated deficit                                 (37,269,734)  (36,793,464)

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

Total Stockholders' (Deficit)                     (3,568,215)   (2,809,667)

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

TOTAL LIABILITIES AND STOCKHOLDERS'

EQUITY (DEFICIT)                                $    573,367  $  2,835,459

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

































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



4



ALPHATRADE.COM

Statements of Operations and Other Comprehensive Income (Loss)

(Unaudited)



<TABLE>

<S>                                  <C>           <C>          <C>          <C>

For the Three Months Ended For the Nine Months Ended

September 30,             September 30,

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

2009          2008         2009         2008

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

REVENUES

Subscription revenue                $    578,690  $   757,287  $  1,840,876 $ 2,317,050

Advertising revenue                      462,421    1,060,491     1,981,720   3,528,786

Other revenue                             73,827       49,409       193,420     144,553

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

Total Revenues                     1,114,938    1,867,187     4,016,016   5,990,389

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

COST OF SALES

Financial content                        337,664      490,615     1,136,597   1,431,112

Other cost of sales                         (838)         396           270       2,538

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

Total Cost of Sales                  336,826      491,011     1,136,867   1,433,650

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

GROSS PROFIT                              778,112    1,376,176     2,879,149   4,556,739

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

OPERATING EXPENSES

Management expense                       120,000      120,000       360,000     360,000

Bad debt expense                             121            -     1,031,598           -

Professional fees                         66,112      216,500       241,993     884,488

Research and development                  62,951      123,841       196,795     395,544

Marketing expense                        145,433      146,899       309,643     639,822

General and administrative                92,847      175,398       424,604     429,825

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

Total Operating Expenses             487,464      782,638     2,564,633   2,709,679

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

INCOME (LOSS) FROM OPERATIONS             290,648      593,538       314,516   1,847,060

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

OTHER INCOME (EXPENSE)

Realized gains (losses) on

sale of marketable securities           (4,394)     (47,215)     (324,224)   (145,147)

Gain (Loss) on forgiveness of debt             -            -      (240,000)    307,974

Interest expense                         (16,675)     (95,206)     (226,562)   (275,377)

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

Total Other Income (Expense)         (21,069)    (142,421)     (790,786)   (112,550)

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

NET INCOME (LOSS) BEFORE INCOME TAXES     269,579      451,117      (476,270)  1,734,510



INCOME TAX EXPENSE                              -            -             -           -

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

NET INCOME (LOSS)                    $    269,579  $   451,117  $   (476,270)$ 1,734,510

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

</TABLE>











The accompanying notes are a integral part of these financials statements.



5





ALPHATRADE.COM

Statements of Operations and Other Comprehensive Income (Loss)

(Unaudited)

<TABLE>

<S>                                  <C>           <C>          <C>          <C>

For the Three Months Ended For the Nine Months Ended

September 30,             September 30,

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

2009          2008         2009         2008

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

NET INCOME (LOSS)                    $    269,579  $   451,117  $   (476,270) $ 1,734,510

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

OTHER COMPREHENSIVE INCOME (LOSS)    $    297,629  $  (527,751) $   (967,122) $  (181,420)

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

TOTAL COMPREHENSIVE INCOME (LOSS)    $    567,208  $   (76,634) $ (1,443,392) $ 1,553,090

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

BASIC EARNINGS (LOSS) PER SHARE      $       0.00  $      0.01  $      (0.01) $      0.03

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

FULLY DILUTED INCOME (LOSS) PER SHARE $      0.00  $      0.00                $      0.01

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

BASIC WEIGHTED AVERAGE NUMBER

OF SHARES OUTSTANDING                54,357,342   51,708,336    54,345,620   50,616,857

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

FULLY DILUTED WEIGHTED AVERAGE NUMBER

OF SHARES OUTSTANDING                84,357,342  118,685,186                117,593,707

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

</TABLE>



























































The accompanying notes are a integral part of these financials statements.



6.

ALPHATRADE.COM Statements of Stockholders' (Deficit)  Preferred Stock     Common Stock    Additional     Stock        Other                        Total ----------------- ------------------  Paid-In    Subscription Comprehensive  Accumulated   Stockholders' Shares    Amount   Shares    Amount  Capital       Payable      Income        Deficit        Equity ---------  ------ ---------- ------- ----------- ------------ ------------- ------------- ------------- Balance, December 31, 2007      4,000,000 $ 4,000 48,589,773 $48,590 $32,959,057 $    28,500  $   (738,404) $(36,834,877) $ (4,533,134)  Common stock issued for cash at $0.15 and $0.20 per share                 -       -  1,075,000   1,075     196,425      16,580             -             -       214,080  Common stock issued for services at $0.02 to $0.21 per share             -       -  4,411,250   4,411     475,040           -             -             -       479,451  Value of stock purchase warrants vested                -       -          -       -      25,652           -             -             -        25,652  Value of stock options issued under stock option plans          -       -          -       -     265,010           -             -             -       265,010  Net income for the year ended December 31, 2008              -       -          -       -           -           -       697,861       41,413       739,274 ---------  ------ ---------- ------- ----------- -----------  ------------  ------------  ------------ Balance, December 31, 2008      4,000,000   4,000 54,076,023  54,076  33,921,184      45,080      (40,543)  (36,793,464)   (2,809,667)      ALPHATRADE.COM Statements of Stockholders' (Deficit)  Preferred Stock     Common Stock    Additional     Stock        Other                        Total ----------------- ------------------  Paid-In    Subscription Comprehensive  Accumulated   Stockholders' Shares    Amount   Shares    Amount  Capital       Payable      Income        Deficit        Equity ---------  ------ ---------- ------- ----------- ------------ ------------- ------------- ------------- Balance, December 31, 2008      4,000,000   4,000 54,076,023  54,076  33,921,184      45,080       (40,543)  (36,793,464)   (2,809,667)  Common stock issued for services at $0.02 per share (unaudited)           -       -    400,000     400       7,600           -             -             -         8,000  Common stock canceled (unaudited)           -       -   (720,000)   (720)        720           -             -             -             -  Contributed interest (unaudited)           -       -          -       -     676,844           -             -             -       676,844  Net loss for the nine months ended September 30, 2009 (Unaudited)           -       -          -       -           -           -      (967,122)     (476,270)   (1,443,392) ---------  ------ ---------- ------- ----------- -----------  ------------  ------------  ------------ Balance, September 30, 2009 (Unaudited)   4,000,000  $4,000 53,756,023 $53,756 $34,606,348 $    45,080  $ (1,007,665) $(37,269,734) $ (3,568,215) =========  ====== ========== ======= =========== ===========  ============  ============  ============       The accompanying notes are a integral part of these financial statements.  7


ALPHATRADE.COM Statements of Cash Flows (Unaudited)  For the Nine Months Ended September 30, ------------------------- 2009         2008 ------------ ------------ CASH FLOWS FROM OPERATING ACTIVITIES  Net income (loss)                                    $  (476,270) $ 1,734,510 Adjustments to reconcile net income (loss) to net cash used by operating activities: Depreciation expense                                   14,377       13,745 Value of stock options and warrants granted                 -      157,377 Loss on sale of investments                           324,224      145,147 Gain (Loss) on settlement of debt                     240,000     (307,972) Transfer of investments to settle debt                500,000            - Investments received as payment for accounts receivable                                         (933,481)  (2,135,263) Common stock issued for services                        8,000      394,601 Changes in operating assets and liabilities: Changes in accounts receivable                      1,170,912      (34,077) Changes in prepaid expenses                            (2,000)      (8,150) Changes in deferred revenues                         (163,427)    (855,815)  Changes in related party payables                     304,333      436,159 Changes in accounts payable and accrued expenses   (1,242,370)      (5,421) -----------  ----------- Net Cash Used in Operating Activities            (255,702)    (465,159) -----------  ----------- CASH FLOWS FROM INVESTING ACTIVITIES  Sale of securities                                       174,496      100,215 Purchase of fixed assets                                       -      (18,579) -----------  ----------- Net Cash Provided by Investing Activities         174,496       81,636 -----------  ----------- CASH FLOWS FROM FINANCING ACTIVITIES  Common stock issued for cash                                   -      197,500 Proceeds from bank overdraft                              34,764       16,038 Stock subscriptions payable                                    -       16,580 -----------  ----------- Net Cash Provided by Financing Activities           34,764      230,118 -----------  ----------- NET DECREASE IN CASH                               (46,442)    (153,405)  CASH AT BEGINNING OF PERIOD                         55,650      153,760 -----------  ----------- CASH AT END OF PERIOD                          $     9,208  $       355 ===========  ===========     The accompanying notes are an integral part of these financial statements.  8   ALPHATRADE.COM Statements of Cash Flows (Unaudited) (Continued)  For the Nine Months Ended September 30, ------------------------- 2009         2008 ------------ ------------ SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION  CASH PAID FOR:  Interest                                       $    29,315  $    64,513 Income Taxes                                   $         -  $         -  NON CASH INVESTING AND FINANCING ACTIVITIES:  Common stock issued for services              $     8,000  $   394,601 Value of stock options and warrants vested    $         -  $   157,377                                 The accompanying notes are an integral part of these financial statements.  9   ALPHATRADE.COM, INC Notes to ALPHATRADE.COM INC Financial Statements September 30, 2009 and December 31, 2008  NOTE 1 - CONDENSED FINANCIAL STATEMENTS  The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2009 and 2008, and for all periods presented herein, have been made.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2008 audited financial statements. The results of operations for the periods ended September 30, 2009 and 2008 are not necessarily indicative of the operating results for the full year.  NOTE 2 - GOING CONCERN  The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.  In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.  The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.  NOTE 3 - RELATED PARTY PAYABLES  The related party payables were reduced by $799,013 and $372,511 during the three and nine months ended September 30, 2009, respectively. It is mainly due to the related party interest accrual reduced by $674,844 in September 2009.  The related party 536653 B.C. Ltd. contributed its accrued loan interest of $676,844 to the Company during the quarter by reducing its interest rate from 20% to 3% as of July 1, 2009.   10  ALPHATRADE.COM, INC Notes to ALPHATRADE.COM INC Financial Statements September 30, 2009 and December 31, 2008  NOTE 4 - OUTSTANDING COMMON STOCK OPTIONS AND STOCK PURCHASE WARRANTS  In according with Accounting Standards Codification ("ASC") Topic 718 (FAS123R), the Company estimates the fair value of each stock award at the grant date by using the Black-Scholes option pricing model. The following weighted average assumptions used for grants in the periods ended September 30, 2009 and December 31, 2008: dividend yield of zero percent for all years; expected volatility of 74.36% and 62.01%; risk-free interest rates of 5.03% and 3.35% and expected lives of 1.0 and 3.0, respectively.  The general terms of awards such as vesting requirements (usually 1 to 2 years), term of options granted (usually 10 years), and number of shares authorized for grants of options or other equity instruments are determined by the Board of Directors. A summary of the status of the Company's stock options and warrants as of September 30, 2009 and changes during the periods ended December 31, 2008 and September 30, 2009 is presented below:  Weighted    Weighted Options     Average      Average and         Exercise     Grant Date Warrants    Price        Fair Value ----------------------------------- Outstanding, December 31, 2007    51,570,347  $0.38             $0.38 Granted                         9,245,000   0.21              0.21 Expired                        (5,046,497)  0.47              0.47 Exercised                        (558,650)  0.25              0.25  Outstanding, December 31, 2008    55,210,200  $0.32             $0.32 Exercisable, December 31, 2008    40,730,200  $0.33             $0.33 ----------------------------------- Outstanding, December 31, 2008    55,210,200  $0.32             $0.32 Granted                               -0-    -0-               -0- Expired                        (6,765,000)  0.47              0.47 Exercised                             -0-    -0-               -0-  Outstanding, September 30, 2009   48,445,200  $0.30             $0.30 Exercisable, September 30, 2009   33,965,200  $0.30             $0.30  NOTE 5 - SIGNIFICANT ACCOUNTING POLICIES  Use of Estimates ---------------- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.         11 ALPHATRADE.COM, INC Notes to ALPHATRADE.COM INC Financial Statements September 30, 2009 and December 31, 2008  NOTE 5 - SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  Recent Accounting Pronouncements --------------------------------  In May 2009, the FASB issued ASC Topic 855 (FAS 165), "Subsequent Events". This pronouncement establishes standards for accounting for and disclosing subsequent events (events which occur after the balance sheet date but before financial statements are issued or are available to be issued). FAS 165 require an entity to disclose the date subsequent events were evaluated and whether that evaluation took place on the date financial statements were issued or were available to be issued. It is effective for interim and annual periods ending after June 15, 2009. The adoption of FAS 165 did not have a material impact on the Company's financial condition or results of operation.  In June 2009, the FASB issued FAS 166, "Accounting for Transfers of Financial Assets" an amendment of FAS 140. FAS 140 is intended to improve the relevance, representational faithfulness, and comparability of the information that a reporting entity provides in its financial statements about a transfer of financial assets: the effects of a transfer on its financial position, financial performance, and cash flows: and a transferor's continuing involvement, if any, in transferred financial assets. This statement must be applied as of the beginning of each reporting entity's first annual reporting period that begins after November 15, 2009. The Company does not expect the adoption of FAS 166 to have an impact on the Company's results of operations, financial condition or cash flows.  In June 2009, the FASB issued FAS 167, "Amendments to FASB Interpretation No. 46(R)". FAS 167 is intended to (1) address the effects on certain provisions of FASB Interpretation No. 46 (revised December 2003), Consolidation of Variable Interest Entities, as a result of the elimination of the qualifying special-purpose entity concept in FAS 166, and (2) constituent concerns about the application of certain key provisions of Interpretation 46(R), including those in which the accounting and disclosures under the Interpretation do not always provided timely and useful information about an enterprise's involvement in a variable interest entity. This statement must be applied as of the beginning of each reporting entity's first annual reporting period that begins after November 15, 2009. The Company does not expect the adoption of FAS 167 to have an impact on the Company's results of operations, financial condition or cash flows.  In June 2009, the FASB issued ASC Topic 105 (FAS 168), "The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles". FAS 168 will become the source of authoritative U.S. generally accepted accounting principles (GAAP) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (SEC) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. On the effective date of this Statement, the Codification will supersede all then-existing non-SEC accounting and reporting standards. All other nongrandfathered non-SEC accounting literature not included in the Codification will become nonauthoritative. This      12 ALPHATRADE.COM, INC Notes to ALPHATRADE.COM INC Financial Statements September 30, 2009 and December 31, 2008  NOTE 5 - SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)  Recent Accounting Pronouncements (Continued) --------------------------------------------  statement is effective for financial statements issued for interim and annual periods ending after September 15, 2009. The Company does not expect the adoption of FAS 168 to have an impact on the Company's results of operations, financial condition or cash flows.  In June 2009, the FASB issued ASU No. 2009-01, "Topic 105-Generally Accepted Accounting Principles, amendments based on FASB 168". No. 2009-01 amends FASB 168, the Accounting Standard Update includes Statement 168 in its entirely, including the accounting standard update instructions contained in Appendix B of the Statement. The Company does not expect the adoption of No. 2009-01 to have an impact on the Company's results of operations, financial condition or cash flows.  In August 2009, the FASB issues ASU No. 2009-05, "Fair Value Measurements and Disclosures, (Topic 820), Measuring Liabilities at Fair Value". This pronunciation provides clarification that in circumstances in which a quoted price in an active market for the identical liability is not available, a reporting entity is required to measure fair value using the provided techniques. The Company does not expect the adoption of No. 2009-05 to have an impact on the Company's results of operations, financial condition or cash flows.  NOTE 6 - LAWSUITS  Equistock Incorporated and Nicholas Thomas v. AlphaTrade.com  Plaintiffs Equistock and Thomas ("Plaintiffs") initiated this action in April 2009 with the filing of their Original Petition in the state district courts of Harris County, Texas. The lawsuit arises from a marketing agreement between Equistock and AlphaTrade whereby AlphaTrade provided advertising and marketing services to Equistock on behalf of Equistock's client, Dalrada Financial, Inc. The Plaintiffs have asserted claims for breach of contract, quantum meruit, breach of the duty of good faith and fair dealing, and damage to business goodwill and are seeking $1.19 million in damages.  AlphaTrade has answered the Original Petition by denying these claims and removed the case to U.S. District Court for the Southern District of Texas, Houston Division. Additionally, AlphaTrade has asserted counterclaims against Plaintiffs for fraud, negligent misrepresentation, deceptive trade practices, fraudulent inducement, and breach of contract and is seeking approximately $257,000 in damages.  This action is currently in the discovery stage. AlphaTrade intends to vigorously defend the claims made against it and pursue its counterclaims.       13   ALPHATRADE.COM, INC Notes to ALPHATRADE.COM INC Financial Statements September 30, 2009 and December 31, 2008  NOTE 7 - COMMON STOCK CHANGE  On September 15, 2009, the Company's board of directors canceled 720,000 shares issued from the 2008 Stock Option Plan of the Corporation to various employees and consultants for services at a price of $0.05 per share. The shares were issued on October 23, 2008.  NOTE 8 - SUBSEQUENT EVENTS  Management has evaluated subsequent events as of November 13, 2009 and reports that there are no subsequent events to report.  NOTE 9 - INVESTMENT  The Company has investments in marketable equity securities. Management determines the appropriate classification of the securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. The classification of those securities and the related accounting polices are as follows:  Available-for-sale securities consist of marketable equity securities not classified as trading or held-to-maturity. Available-for-sale securities are stated at fair value, and unrealized holding gains and losses, are reported in Accumulated Other Comprehensive Income of stockholders' equity.  The Company determines the cost of securities sold by specific identification method.  The following is a summary of the Company's investment in available-for-sale securities as of September 30, 2009.  Amortized    Gross        Gross           Fair Cost         Unrealized   Unrealized      Market Basis        Gains        Loss            Value ---------    ----------   -----------     -------- Available-for-sale Securities             3,238,356    79,507       (2,789,255)*    528,608  *There is $62,150 which has been in a continuous unrealized loss position for less than 12 months and $2,727,105 which has been in a continuous unrealized loss position for 12 months or longer.  There is stock with a fair value of $511,890 in the available-for-sale securities which is subject to the Rule 144 hold restriction.  For the 3 months ended September 30, 2009, there is $46 realized gains and ($4,440) realized losses resulting from sales of securities; there is $44,138 gains reclassified out of accumulated comprehensive income into earnings.       14  ALPHATRADE.COM, INC Notes to ALPHATRADE.COM INC Financial Statements September 30, 2009 and December 31, 2008  NOTE 9 - INVESTMENT (Continued)  For the 9 months ended September 30, 2009, there is $4,521 realized gains and ($328,745) realized losses resulting from sales of securities; there is ($361,102) net of loss reclassified out of accumulated comprehensive income into earnings.  NOTE 10 - 2008 RESTATEMENT  The Company has restated 2008 financial statements to record the cancelled $240,000 in compensation as expensed to additional paid-in capital in 2007.  NOTE 11 - CONTINGENCY  On May 21, 2009, the Company entered into a Release and Settlement Agreement with PBR (the "PBR Settlement Agreement"), pursuant to which the Company and PBR agreed to settle all disputes and claims arising from and relating to the Company's sponsorship agreement with the PBR. Pursuant to the PBR Settlement Agreement, the Company agreed to make payments to PBR, for each of its 2009, 2010 and 2011 fiscal years, equal to the lesser of $100,000 or 30% of the Company's net profit for each fiscal year.                                  15  Item 2.  Management's Discussion and Analysis of Financial Condition or Plan of Operations  The following information should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this Form 10-Q.  Forward-looking and Cautionary Statements  This report contains certain forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks and uncertainties. These factors may cause our company's, or our industry's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will" "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology.  These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.  Results of Operations. NINE MONTHS ENDED SEPTEMBER 30, 2009 AND 2008  During the three and nine months ended September 30, 2009, revenue continued to decline due to the unstable economy. Our advertising business continues to be adversely affected as many clients curtail their marketing and advertising budgets. Revenue for the three and nine months ended September 30, 2009 was $1,114,938 and $4,016,016, respectively. This is a decline of 40% and 33% over the three and nine months ended September 30, 2008, which had revenues of $1,867,187 and $5,990,389.  Advertising revenues for the three and nine month period ended September 30 were $462,421 and $1,981,720 in 2009 and $1,060,491 and $3,528,786 in 2008. In addition, we had $573,583 in deferred revenue to be realized in subsequent quarters. This deferred revenue is derived from our long term advertising and marketing which was not realized in this quarter. We revised our advertising model from a price point to accommodate new client interest and to make it easier for clients to make a marketing buying decision.  We continue to focus on increasing the traffic to our stable of websites to ensure our advertising clients have a highly desirable demographic target audience. We are experiencing success with building new subscribers to our business networking site, www.zenobank.com. The site provides a comprehensive forum for companies, businesses associated with the financial markets and investors to network using all of the modern, web-based tools available such as blogs, forums, and chat rooms. Every public company, once they sign up, will have complete and accurate financial data on their profile pages on ZenoBank - this will ensure they are compliant with all regulatory policies with respect to investor relations.       16   Our cost of sales for our financial products is directly related to the price of our financial feeds and content. Some of these costs are fixed monthly fees and others are based on the number of users or subscribers.  We believe the market conditions at present will encourage people to save money in every way possible and with the cost effective products AlphaTrade has in both the E-Gate and advertising programs, we believe this could be beneficial for us in increasing our client base for all of our products. For the three and nine months ended September 30, 2009 our cost of sales was 30% and 28% of revenues compared to 26% and 24% of revenues for the same periods in 2008. The increase in cost of sales was due to the decline in advertising revenues as a percentage of our total revenues.  Our operating expenses decreased to $487,464 and $2,564,633 in 2009 from $782,638 and $2,709,679 in 2008 mainly due to lower spending on professional fees, marketing expenses and research and development expenses.  We incurred a loss of $240,000 on the settlement of debt with the Professional Bull Riders Association (PBR) during the nine months ended September 30, 2009. We transferred to PBR shares of marketable securities held as an investment. The cost of those shares exceeded the recorded liability by $240,000 resulting in a loss on the settlement of the debt.  During the respective three and nine month periods ended September 30, we realized a net income of $269,579 and a net loss of ($476,270) in 2009, and a net income of $451,117 and $1,734,510 in 2008. This is a decrease of $181,538 and $2,210,780, respectively. During the three and nine months ended September 30, 2009 we incurred $145,433 and $309,643 in marketing fees compared to $146,899 and $639,882 during the comparative periods of 2008.  Included in professional fees for 2009 are shares of common stock to investor relations consultants valued at $-0- and $8,000 for the three and nine month periods, respectively. For the same periods in 2008 this expense was $73,033 and $394,601. For the most part, the investor relation's consultants are hired to introduce new advertising clients to the company. We recognized related party compensation expense of $120,000 and $360,000 for the three and nine month ended September 30, 2009 and 2008.  Historically, many of our expenses are paid in shares of our common stock. The expenses are recorded at the fair value of the shares issued. Excluding these non-cash expenses the income (loss) for the three and nine months ended September 30 would have been $269,579 and ($468,270) for 2009 and $667,294 and $2,286,488, respectively.  Liquidity and Capital Resources.  We have consistently been financed through loans from related parties and from raising capital through private equity offerings. We used $255,702 and $465,159 of cash in our operating activities in the nine months ended September 30, 2009 and 2008, respectively. Cash provided by investing activities for the same periods in 2009 and 2008 were $174,496 and $81,636, respectively, came from the sale of marketable securities. We expect that in the next twelve months the cash generated by our operations will be adequate to cover our operating expenses.      17  Given the right circumstances, we would entertain a secondary financing if it would ensure our growth could be greatly fast-tracked otherwise we will focus on building our business via revenue growth. Currently, we do not have any definitive plans for a secondary financing.  We currently have no material commitments for major capital expenditures.  Dependence on Key Personnel  We are dependent on the services of Gordon Muir, the Chief Executive Officer of the Company. The loss of Mr. Muir, or other key executives and personnel, or the inability to attract and retain the additional highly skilled employees required for the expansion of our activities, may have a material adverse effect on our business or our future operations.  Item 3.   Controls and Procedures  As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of management, including our chief executive officer and principal financial officer, of the effectiveness of the design and operation of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934. Based upon that evaluation, our chief executive officer and principal financial officer concluded that our disclosure controls and procedures are effective to ensure the material information required to be disclosed by us in the reports that we file or submit under the Exchange Act to be recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms. There have been no changes in our internal controls or in other factors which could significantly affect internal controls subsequent to the date we carried out our evaluation.   PART II - OTHER INFORMATION.  Item 1. Legal Proceedings.  Equistock Incorporated and Nicholas Thomas v. AlphaTrade.com U.S. District Court for the Southern District of Texas, Houston Division Civil Action No. 4:09-CV-01645  Plaintiffs Equistock and Thomas ("Plaintiffs") initiated this action in April 2009 with the filing of their Original Petition in the state district courts of Harris County, Texas. The lawsuit arises from a marketing agreement between Equistock and AlphaTrade whereby AlphaTrade provided advertising and marketing services to Equistock on behalf of Equistock's client, Dalrada Financial, Inc. The Plaintiffs have asserted claims for breach of contract, quantum meruit, breach of the duty of good faith and fair dealing, and damage to business goodwill and are seeking $1.19 million in damages.  AlphaTrade has answered the Original Petition by denying these claims and removed the case to U.S. District Court for the Southern District of Texas, Houston Division. Additionally, AlphaTrade has asserted counterclaims against Plaintiffs for fraud, negligent misrepresentation, deceptive trade practices, fraudulent inducement, and breach of contract and is seeking approximately $257,000 in damages.     18  This action is currently in the discovery stage. AlphaTrade intends to vigorously defend the claims made against it and pursue its counterclaims.  Item 2. Changes in Securities.  The following unregistered securities have been issued since January 1st, 2009: Valued Date          No. of Shares      Title      At          Reason  March 2009       400,000         Common      $0.02       For services  The above noted shares were issued in private, isolated transactions without registration under the Securities Act. The shares were issued in reliance on the exemption provided by Rule 506 and/or Section 4(2) of the Securities Act as a transaction by an issuer not involving a public offering to Consultants or to companies owned or controlled by Consultants or Officers of AlphaTrade.  Item 3. Defaults Upon Senior Securities.  None.  Item 4. Submission of Matters to a Vote of Security Holders.  None.  Item 5. Other Information.  None   Item 6. Exhibits and Reports on Form 10-Q.  (a) Exhibits  Exhibit 31.1   Certification of C.E.O. Pursuant to Section 302 of the Sarbanses-Oxley Act of 2002.  Exhibit 31.2   Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanses-Oxley Act of 2002.  Exhibit 32.1   Certification of C.E.O. Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002  Exhibit 32.2   Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002  (b) Report on Form 8-K  None


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SIGNATURES




|                     |     |                    |  | 
|-------------------- | --- | ------------------ |  | 
|                     |     | ALPHATRADE.COM     | 
|Date: April 21, 2010 | By: | /s/ Gordon J. Muir | 
|                     |     | Gordon J. Muir     | 
|                     |     | CEO/Director       | 
|                    

|                     |     |                                      |  | 
|-------------------- | --- | ------------------------------------ |  | 
|                     |     | ALPHATRADE.COM                       | 
|Date: April 21, 2010 | By: | /s/ Katharine Johnston               | 
|                     |     | Katharine Johnston                   | 
|                     |     | Principal Financial Officer/Director | 
|                    

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