U. S. Securities and Exchange Commission
                         Washington, D. C.  20549

                              FORM 10-QSB

[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the quarter ended March 31, 2000
                           --------------

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from               to
                                    -------------    -------------

                        Commission File No. 0-25631
                                            -------

                             ALPHATRADE.COM
                             --------------
              (Name of Small Business Issuer in its Charter)

         NEVADA                                             Applied For
         ------                                             -----------
(State or Other Jurisdiction of                     (I.R.S. Employer I.D. No.)
 incorporation or organization)

                       Suite 400, 1111 West Georgia Street
                    Vancouver, British Columbia, Canada V6E 4M3
                    -------------------------------------------
                      (Address of Principal Executive Offices)

                Issuer's Telephone Number:  (604) 689-5377

     Check whether the Issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such
shorter period that the Company was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

     (1)   Yes  X    No            (2)   Yes  X    No
               ---      ---                  ---      ---


                 (APPLICABLE ONLY TO CORPORATE ISSUERS)

          State the number of shares outstanding of each of the Issuer's
classes of common equity, as of the latest practicable date:

                              March 31, 2000

                          Common - 12,158,787 shares



                    DOCUMENTS INCORPORATED BY REFERENCE

                              NONE.

Transitional Small Business Issuer Format   Yes  X   No
                                                ---     ---

                  PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements.

          The Consolidated Financial Statements of the Company required
to be filed with this 10-QSB Quarterly Report were prepared by management and
reviewed by the Company's independent auditors, HJ & Associates LLC (formerly
known as "Jones, Jensen & Company") and commence on the following page,
together with related Notes.  In the opinion of management, the Consolidated
Financial Statements fairly present the financial condition of the Company.

<PAGE>

                                ALPHATRADE.COM

                             FINANCIAL STATEMENTS

                     March 31, 2000 and December 31, 1999

<PAGE>

                                C O N T E N T S


Independent Accountants' Review Report . . . . . . . . . . . . . . . .  3

Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . .  4

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

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

Statements of Cash Flows . . . . . . . . . . . . . . . . . . . . . . . .9

Notes to the Financial Statements. . . . . . . . . . . . . . . . . . . 10

<PAGE>

                    INDEPENDENT ACCOUNTANTS' REVIEW REPORT


To the Stockholders of
AlphaTrade.com
Vancouver, B.C. Canada

We have reviewed the accompanying balance sheet of AlphaTrade.com as of March
31, 2000 and the related statements of operations, stockholders' equity and
cash flows  for the periods ended March 31, 2000 and 1999.  These financial
statements are the responsibility of the Company's management.

We conducted our reviews in accordance with standards established by the
American Institute of Certified Public Accountants.  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 generally accepted auditing standards, which will
be performed for the full year with the objective of expressing 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 accompanying financial statements referred to above for
them to be in conformity with accounting principles generally accepted in the
United States.

We have previously audited, in accordance with auditing standards generally
accepted in the United States, the balance sheet of AlphaTrade.com as of
December 31, 1999, and the related statements of operations, stockholders'
equity, and cash flows for the year then ended (not presented herein) and in
our report dated February 3, 2000, we expressed an unqualified opinion on
those consolidated financial statements.

HJ & Associates, LLC
Salt Lake City, Utah
May 10, 2000

<PAGE>

                                ALPHATRADE.COM
                                Balance Sheets

<TABLE>
<CAPTION>

                                    ASSETS

                                                 March 31,      December 31,
                                                   2000             1999

<S>                                              <C>            <C>

CURRENT ASSETS

 Cash                                            $      54,316  $    92,993
 Prepaid expenses                                      163,395        7,969

  Total Current Assets                                 217,711      100,962

FIXED ASSETS

 Computer equipment                                    124,290      108,790
 Office equipment                                       13,853       11,803
 Software                                               54,997       35,330
 Accumulated depreciation                              (29,273)     (20,144)

  Total Fixed Assets                                   163,867      135,779

OTHER ASSETS

 Investment (Note 8)                                    75,000       25,000
 Technology (Note 4)                                       -            -

  Total Other Assets                                    75,000       25,000

  TOTAL ASSETS                                   $     456,578  $   261,741

</TABLE>

<PAGE>

                                ALPHATRADE.COM
                          Balance Sheets (Continued)

                LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

<TABLE>
<CAPTION>

                                                 March 31,      December 31,
                                                  2000              1999

<S>                                              <C>            <C>

CURRENT LIABILITIES

 Accounts payable                                $     391,855  $    239,422
 Deferred revenue (Note 1)                              96,258       288,775

  Total Current Liabilities                            488,113       528,197

  Total Liabilities                                    488,113       528,197

STOCKHOLDERS' EQUITY (DEFICIT)

 Convertible preferred stock: par value $0.001 per
  share; 10,000,000 shares authorized, 2,000,000
  shares issued and outstanding (Note 3)                 2,000         2,000
 Common stock: $0.001 par value 100,000,000
  shares authorized; 12,158,787 and 11,850,830 shares
  issued and outstanding, respectively                  12,159        11,851
 Additional paid-in capital                          3,305,675
 2,243,554
 Common stock subscriptions receivable                 (58,171)     (250,000)
 Other comprehensive loss                              (50,000)     (100,000)
 Accumulated deficit                                (3,243,198)   (2,173,861)

   Total Stockholders' Equity (Deficit)                (31,535)     (266,456)

   TOTAL LIABILITIES AND STOCKHOLDERS'
    EQUITY (DEFICIT)                             $     456,578  $    261,741

</TABLE>

<PAGE>

                                ALPHATRADE.COM
                           Statements of Operations

<TABLE>
<CAPTION>

                                                 For the Three Months Ended
                                                          March 31,
                                                 2000           1999

<S>                                              <C>            <C>

REVENUE

 Subscription revenue                            $     192,764  $        -
 License fee revenue                                    -
    -

  Total Revenue                                        192,764           -

EXPENSES

 Depreciation expense                                    9,129         2,077
 Rent expense                                           24,532         9,926
 General and administrative expenses                 1,228,440       555,547

  Total Expenses                                     1,262,101       567,550

LOSS FROM OPERATIONS                                (1,069,337)     (567,550)

INCOME TAX (BENEFIT)                                       -             -

NET LOSS                                            (1,069,337)     (567,550)

OTHER COMPREHENSIVE GAIN

 Gain on valuation of investment                        50,000           -


  Total Other Comprehensive Gain                        50,000           -


NET COMPREHENSIVE LOSS                           $  (1,019,337) $   (567,550)

NET LOSS PER SHARE                               $       (0.09) $      (0.05)

</TABLE>

<PAGE>

                                ALPHATRADE.COM
                 Statements of Stockholders' Equity (Deficit)

<TABLE>
<CAPTION>

                               Preferred Stock         Common Stock
                              Shares     Amount      Shares       Amount

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

Balance,
 December 31, 1998                    -   $       -    6,100,000  $     6,100

Stock issued for technology,
 recorded at predecessor
 cost, January 6, 1999
 (Note 6)                             -           -    4,000,000        4,000

Common stock issued for
 services at $0.50 per share          -           -      100,000          100

Common stock issued for
 cash at $1.00 per share              -           -    1,000,000        1,000

Stock issued to founders
 recorded at $0.001 which
 approximates predecessor
 cost, January 8, 1999          2,000,000       2,000        -            -

Receipt of stock subscription         -           -          -            -

Loss on valuation of
 investment                           -           -          -            -

Common stock issued for
 cash at $1.25 per share              -           -      200,000          200

Balance Forward                 2,000,000 $     2,000 11,400,000  $    11,400

</TABLE>

<TABLE>
<CAPTION>


                           Additional               Other
                           Paid-in    Subscriptions Comprehensive Accumulated
                           Capitol    Receivable    Loss          Deficit

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

Balance,
 December 31, 1998            $   46,400  $  (50,000)$        -   $   (14,187)

Stock issued for technology,
 recorded at predecessor
 cost, January 6, 1999
 (Note 6)                         (4,000)        -            -           -

Common stock issued for
 services at $0.50 per share      49,900         -            -           -

Common stock issued for
 cash at $1.00 per share         999,000         -            -           -

Stock issued to founders
 recorded at $0.001 which
 approximates predecessor
 cost, January 8, 1999               -           -            -           -

Receipt of stock subscription        -        50,000          -           -

Loss on valuation of
investment                           -           -       (100,000)        -

Common stock issued for
cash at $1.25 per share          249,800    (250,000)         -           -

Balance Forward               $1,341,100  $ (250,000)$   (100,000)$   (14,187)

</TABLE>

<PAGE>

                                ALPHATRADE.COM
           Statements of Stockholders' Equity (Deficit) (Continued)

<TABLE>
<CAPTION>

                               Preferred Stock         Common Stock
                              Shares     Amount      Shares       Amount

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

Balance Forward                 2,000,000 $    2,000   11,400,000 $    11,400

Common stock issued for
 cash at $3.50 per share              -          -            830           1


Common stock issued for
 cash and services at $2.00
 per share                            -          -        450,000         450

Net loss for the year ended
 December 31, 1999                    -          -            -           -

Balance, December 31, 1999      2,000,000      2,000   11,850,830      11,851

Stock issued on exercise of
 warrants at $1.25 per share          -          -        100,000         100

Stock issued on for services at
 $6.25 per share                      -          -         50,000          50

Stock issued on exercise of
 options and for services at
 $1.00 per share                      -          -         60,000          60

Stock issued for prepaid
 expenses at $6.50 per
 share                                -          -         27,500          28

Stock issued for services
 at $6.50 per share                   -          -          2,500           2

Balance Forward                 2,000,000 $    2,000   12,090,830 $    12,091

</TABLE>

<TABLE>
<CAPTION>

                           Additional               Other
                           Paid-in    Subscriptions Comprehensive Accumulated
                           Capitol    Receivable    Loss          Deficit

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

Balance Forward               $ 1,341,100 $ (250,000)$   (100,000)$   (14,187)

Common stock issued for
 cash at $3.50 per share            2,904        -            -           -

Common stock issued for
 cash and services at $2.00
 per share                         899,550       -            -           -

Net loss for the year ended
 December 31, 1999                     -         -            -    (2,159,674)

Balance, December 31, 1999       2,243,554  (250,000)    (100,000) (2,173,861)

Stock issued on exercise of
 warrants at $1.25 per share       124,900  (125,000)         -           -

Stock issued on for services
 at  $6.25 per share               312,450       -            -           -

Stock issued on exercise of
 options and for services at
 $1.00 per share                    59,940       -            -           -

Stock issued for prepaid
 expenses at $6.50 per share       178,722       -            -           -

Stock issued for services
 at $6.50 per share                 16,248       -            -           -

Balance Forward               $  2,935,814$ (375,000)$   (100,000)$(2,173,861)

</TABLE>

<PAGE>

                                ALPHATRADE.COM
           Statements of Stockholders' Equity (Deficit) (Continued)

<TABLE>
<CAPTION>

                               Preferred Stock         Common Stock
                              Shares     Amount      Shares       Amount

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

Balance Forward                 2,000,000 $    2,000   12,090,830 $    12,091

Common stock issued for
 cash at $5.75 per share              -          -         51,521          52

Common stock issued for
 services at $5.75 per share          -          -         10,436          10

Compensation on warrants
issued below market value
 at $8.25 per share                   -          -            -           -

Stock issued on exercise of
 options at $1.00 per share           -          -          4,000           4

Stock issued on exercise of
 options at $1.00 per share           -          -          2,000           2

Receipt of stock subscription         -          -            -           -

Gain on valuation of investment       -          -            -           -

Net loss for the three months
 ended March 31, 2000                 -          -            -           -

Balance, March 31, 2000         2,000,000 $    2,000   12,158,787 $    12,159

</TABLE>

<TABLE>
<CAPTION>
                           Additional               Other
                           Paid-in    Subscriptions Comprehensive Accumulated
                           Capitol    Receivable    Loss          Deficit

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

Balance Forward               $ 2,935,814 $ (375,000)$   (100,000)$(2,173,861)

Common stock issued for
 cash at $5.75 per share          296,193     (8,245)         -           -

Common stock issued for
 services at $5.75 per share       59,990        -            -           -

Compensation on warrants
issued below market value
 at $8.25 per share                 7,684        -            -           -

Stock issued on exercise of
 options at $1.00 per share         3,996     (4,000)         -           -

Stock issued on exercise of
 options at $1.00 per share         1,998     (2,000)         -           -

Receipt of stock subscription         -      331,074          -           -

Gain on valuation of investment       -          -         50,000         -

Net loss for the three months
 ended March 31, 2000                 -          -            -    (1,069,357)

Balance, March 31, 2000       $ 3,305,675 $  (58,171)$    (50,000)$(3,243,198)

</TABLE>

<PAGE>

                                ALPHATRADE.COM
                           Statements of Cash Flows

<TABLE>
<CAPTION>

                                                  For the Three Months Ended
                                                           March 31,
                                                      2000          1999

<S>                                               <C>           <C>

CASH FLOWS FROM OPERATING ACTIVITIES

     Net loss                                     $ (1,069,337) $    (567,550)

     Adjustments to reconcile net loss to net
     cash (used) by operating activities:

          Common stock issued for services             448,750         50,000

          Compensation on warrants issued below
          market value                                   7,684            -

          Preferred stock issued for services              -            2,000

          Depreciation expense                           9,129          2,077

     Changes in operating assets and liabilities:

          (Increase) decrease in prepaid expenses       23,324           (205)

          Increase (decrease) in accounts payable      179,597         86,436

          Increase (decrease) in accounts payable
           - related party                             (27,164)       126,913

          Increase (decrease) in deferred revenue     (192,517)           -

               Net Cash Used by Operating
               Activities                             (620,534)      (300,329)

CASH FLOWS FROM INVESTING ACTIVITIES

     Purchase of fixed assets                          (37,217)       (68,100)

               Net Cash Used by Investing
               Activities                              (37,217)       (68,100)

CASH FLOWS FROM FINANCING ACTIVITIES

     Common stock issued for cash                      288,000        368,429

     Receipt of stock subscription                     331,074            -

               Net Cash Provided by Financing
               Activities                              619,074        368,429

NET CHANGE IN CASH                                     (38,677)           -

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR          92,993            -


CASH AND CASH EQUIVALENTS AT END OF YEAR          $     54,316  $         -


SUPPLEMENTAL DISCLOSURE OF CASH FLOW
 INFORMATION:

     Interest paid                                $        -    $         -

     Income taxes paid                            $        -    $         -

SCHEDULE OF NON-CASH FINANCING ACTIVITIES:

     Common stock issued for services             $    448,750  $         -

     Preferred stock issued for services          $        -    $       2,000

     Common stock issued for subscription
     receivable                                   $      6,000  $         -

         Warrants issued below market value       $      7,684  $         -

</TABLE>

<PAGE>

                                ALPHATRADE.COM
                      Notes to the Financial Statements
                     March 31, 2000 and December 31, 1999


NOTE 1-NATURE OF ORGANIZATION

       This summary of significant accounting policies of AlphaTrade.com is
       presented to assist in understanding the Company's financial
       statements.  The financial statements and notes are representations of
       the Company's management, which is responsible for  their integrity and
       objectivity.  These accounting policies conform to generally accepted
       accounting principles and have been consistently applied in the
       preparation of the financial statements.

       a.  Organization and Business Activities

       AlphaTrade.com was incorporated under the laws of the State of Nevada
       on June 6, 1995.  The Company provides both real-time and delayed stock
       market quotes to subscribers via the internet.  The Company was a
       development stage enterprise until it began operations in November
       1999.

       b.  Depreciation

       The cost of the property and equipment is depreciated over the
       estimated useful life of 5 years.  Depreciation is computed using the
       straight-line method when the assets are placed in service.

       c.  Accounting Method

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

       d.  Cash and Cash Equivalents

       For the purpose of the statement of cash flows, the Company considers
       all highly liquid investments purchased with a maturity of three months
       or less to be cash equivalents.

       e.  Estimates

       The preparation of financial statements in conformity with 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.  Actual results could differ
       from those estimates.

       f. Basic Loss Per Share

       The computation of basic loss per share of common stock is based on the
       weighted average number of shares of common stock outstanding during
       the periods presented.  Common stock equivalents have not been included
       because they are antidilutive in nature.

<PAGE>

                                ALPHATRADE.COM
                      Notes to the Financial Statements
                     March 31, 2000 and December 31, 1999


NOTE 1-NATURE OF ORGANIZATION (Continued)

       f.  Basic Loss Per Share (Continued)



                                               For the Three Months Ended
                                                    March 31, 2000
                                             Loss      Shares     Per Share
                                          (Numerator)(Denominator)  Amount



<TABLE>
<CAPTION>
<S>                                       <C>         <C>         <C>

       Net loss                          $ (1,069,337) 12,078,432 $   (0.09)

                                               For the Three Months Ended
                                                    March 31, 1999
                                             Loss      Shares     Per Share
                                          (Numerator)(Denominator)  Amount

       Net loss                          $   (567,550) 10,897,802 $   (0.05)

</TABLE>

       g.  Income Taxes

       No provision for income taxes has been accrued because the Company has
       net operating losses from inception.  The net operating loss
       carryforwards of approximately $3,330,000 at March 31, 2000 expire in
       2020.  No tax benefit has been reported in the financial statements
       because the Company is uncertain if the carryforwards will expire
       unused.  Accordingly, the potential tax benefits are offset by a
       valuation account of the same amount.

       h.  Revenue Recognition

       The Company amortizes subscription fees over the life of the contract,
       typically one year, or on a monthly basis, as billed.  At March 31,
       2000, the Company had deferred revenue of $96,258 which relates to
       subscriptions to the Company quotation services which were received in
       November and December 1999.  No subscriptions had been received prior
       to November 1999.

<PAGE>

                                ALPHATRADE.COM
                      Notes to the Financial Statements
                     March 31, 2000 and December 31, 1999


NOTE 1-NATURE OF ORGANIZATION

       i.  Recent Accounting Pronouncements

       In June 1998, the FASB issued SFAS No. 133, "Accounting for Derivative
       Instruments and Hedging Activities" which requires companies to record
       derivatives as assets or liabilities, measured at fair market value.
       Gains or losses resulting from changes in the values of those
       derivatives would be accounted for depending on the use of the
       derivative and whether it qualifies for hedge accounting.  The key
       criterion for hedge accounting is that the hedging relationship must be
       highly effective in achieving offsetting changes in fair value or cash
       flows.  SFAS No. 133 is effective for all fiscal quarters of fiscal
       years beginning after June 15, 1999.  Management believes the adoption
       of this statement will have no material impact on the Company's
       financial statements.

       j.  Advertising

       The Company follows the policy of charging the costs of advertising to
       expense as incurred.

NOTE 2-FIXED ASSETS

       Fixed assets at March 31, 2000 consisted of the following:


                                                             March 31,
                                                               2000

               Computer equipment                           $    124,290
               Office equipment                                   13,853
               Software                                           54,997
               Less accumulated depreciation                     (29,273)

                                                            $    163,867

       Depreciation expense for the three months ended March 31, 2000 and 1999
       was $9,129 and $2,077, respectively.

NOTE 3-CONVERTIBLE PREFERRED STOCK

       The Company has 2,000,000 outstanding shares of convertible Class "A"
       preferred stock with the following features:

       Each  preferred share is convertible into five underlying common
       shares at a conversion price of $0.05 per common share.

       Each holder of Class "A" preferred shares shall be entitled to five(5)
       votes (which can be voted prior to conversion) for every preferred
       share held to vote on any matters brought before the shareholders of
       the Company.

       The preferred shares are assignable.

       The preferred shares vest immediately to the holder upon issuance and
       cannot be canceled.

<PAGE>

                                ALPHATRADE.COM
                      Notes to the Financial Statements
                     March 31, 2000 and December 31, 1999


NOTE 4-PURCHASE OF TECHNOLOGY

       On January 4, 1999, the Board of Directors issued 4,000,000 shares of
       unregistered restricted common stock for the purchase of software for
       development and eventual resale. The acquired software is still in a
       developmental state and has uncertain net realizable value.  The
       software was recorded at its predecessor cost of $-0-.

NOTE 5-OPTIONS

       At March 31, 2000, the Company had authorized the following options
       pursuant to the 1999 stock option plan:

<TABLE>
<CAPTION>
                            Exercise      Number      Number      Number
                              Price     Authorized   Exercised  Outstanding

                            <C>         <C>          <C>        <C>
                            $   1.00     1,200,000         -      1,134,000
                            $   3.50       800,000         -        800,000

                                         2,000,000                1,934,000

</TABLE>

       At March 31, 2000, the Company had granted the following stock options:

<TABLE>
<CAPTION>

               Grant       Exercise      Vesting      Number       Number
                Date        Price         Dates       Granted    Outstanding

               <C>         <C>         <C>           <C>         <C>
               1/6/99      $   1.00    20% each year   80,000      74,000
                                         2000-2004
               1/6/99      $   1.00     Immediately   700,000     700,000
               1/6/99      $   1.00     Immediately    60,000         -
               9/1/99      $   3.50    20% each year  660,000     660,000
                                         2000-2004

               Total                                1,500,000    ,434,000

</TABLE>

NOTE 6-WARRANTS

       The Company had the following warrants outstanding at March 31, 2000:

<TABLE>
<CAPTION>
                        Number of    Number of
Grant      Exercise     Shares       Shares      Total         Expiration
 Date       Price       Granted      Exercised   Remaining     Date

<C>          <C>          <C>          <C>          <C>          <C>

1/7/1999     $   1.25       1,000,000     300,000      700,000      1/7/2001
6/7/1999     $   2.50         500,000         -        500,000      6/7/2001
10/19/1999   $  4.875         600,000         -        600,000    10/19/2001
11/16/1999   $   6.25           5,000         -          5,000    11/10/2002
11/11/99     $   7.00         150,000         -        150,000    11/11/2004
2/7/2000     $   8.25         123,914         -        123,914      2/7/2005

</TABLE>

<PAGE>

                                ALPHATRADE.COM
                      Notes to the Financial Statements
                     March 31, 2000 and December 31, 1999

NOTE 6-WARRANTS

       All warrants granted through December 31, 1999 were issued at prices
       equal to or exceeding the trading value of the stock on the date of
       grant.

       The warrants issued on February 7, 2000 were issued at a price below
       the trading value of the stock on that date.  Accordingly, compensation
       expense of $7,684 has been recorded on the difference between the
       trading price of $8.31 per share and the exercise price of $8.25 per
       share.

NOTE 7-STOCK SUBSCRIPTION RECEIVABLE

       The Company has issued 100,000 shares of its common stock pursuant to a
       subscription.  The subscription price is $1.25 per share and the
       subscription provides that if the shares are not paid for by January 8,
       2001, the shares will be canceled.  At March 31, 2000, the balance due
       on the subscription was $55,426.

       The Company has issued 4,000 shares of its common stock pursuant to a
       subscription. The subscription price is $1.00 per share.  At March 31,
       2000, the balance due on the subscription was $4,000.

       The Company has received funds of $11,500 pursuant to an anticipated
       subscription agreement.  The subscription was approved by the Company
       on April 20, 2000 for 5,750 shares at a price of $2.00 per share.

NOTE 8-INVESTMENT

       In June 1999, the Company sold a non-exclusive licensing agreement to
       PhantomFilm.com for $125,000.  The Company received 250,000 shares of
       PhantomFilm.com stock originally valued at $0.50 per share.  At
       December 31, 1999, the stock was worth $0.10 per share.  Accordingly, a
       loss on valuation of investment for $100,000 was recorded as an other
       comprehensive loss for the year ended December 31, 1999.  The
       PhantomFilm.com stock is classified as available for sale.  At March
       31, 2000, the stock was worth $0.30 per share.  Accordingly, a gain on
       valuation of investment for $50,000 has been recorded as an other
       comprehensive gain for the three months ended March 31, 2000.

NOTE 9-COMMITMENTS AND CONTINGENCIES

       Office Lease

       The Company leases office space on a month-to-month basis.  The monthly
       lease payment is $5,000.  Rent related expense for the three months
       ended March 31, 2000 and 1999 was $24,532 and $9,926, respectively.

<PAGE>

                                ALPHATRADE.COM
                      Notes to the Financial Statements
                     March 31, 2000 and December 31, 1999


NOTE 9-COMMITMENTS AND CONTINGENCIES (Continued)


       Consulting Agreement

       On December 20, 1999, the Company signed a consulting agreement with
       Renmark Financial Communications (Renmark) for an initial period of 3
       months beginning January 1, 2000, renewable for a further 12 month
       period.  Renmark will provide investor relations and communications
       services to the Company.  Terms of the agreement are as follows:

       1)   a monthly fee of $5,000:
       2)   Renmark will be granted an option to purchase a total of 150,000
            shares of the Corporation at an exercise price of $7.00 per share,
            according to the following vesting schedule:

            a)   50,000 shares upon execution of this agreement;
            b)   25,000 shares at March 31, 2000; 25,000 at June 30, 2000;
                 25,000 at September 30, 2000 and 25,000 at December 31, 2000.

       This agreement was canceled in January 2000.  Accordingly, all options
       granted to Renmark under this agreement were canceled effective January
       31, 2000.

NOTE 10-SUBSEQUENT EVENTS

       On April 20, 2000, the Company accepted subscription agreements from
       various related parties. The subscription agreements call for the
       Company to issue 325,000 shares for $650,000 at a price of $2.00 per
       share. Each share has two warrants attached, for a total of 650,000
       warrants, at a price of $2.25 per share.

<PAGE>

Item 2.   Management's Discussion and Analysis or Plan of Operation.

Plan of Operation.
------------------

          During the quarter ended March 31, 2000, the Company did not charge
for any subscriptions for E-gate products.  We were in the process of
upgrading our network equipment to ensure the highest possible performance for
subscribers with all types of computers and internet connections and felt that
we could not charge for a service that was not 100% reliable.  In addition,
the Company continued to upgrade all of the E-gate financial applications it
developed and to improve the transfer speed of the data.  All of the current
applications are now running on new state-of-the-art Sun servers combined with
Cisco local directors.  The new equipment upgrades allow users much faster
access and gives the Company unlimited scalability.

          Enhanced Java code design and optimization tools were implemented in
the development environment to further improve the efficiencies of the
programming staff.  Many improvements to the back end of the client services
were implemented to increase the speed of data requests made by clients, as
well as to increase the scalability of the E-gate products, allowing a larger
client base to access the system simultaneously.  The Quote Grid was optimized
to improve performance when displaying larger stock portfolios, reducing any
painting errors.  Many of the Company's subscribers have computer monitors
with lower resolutions (800 x 600 pixels), so a scroll bar was added to the
Quote Grid and the News was combined with the symbol on the portfolio manager,
thereby maximizing the amount of data that can be seen on these smaller
monitors.

          Also during the quarter we implemented comprehensive security
capabilities to maintain the necessary privacy for our users via the use of
proven firewall technology.

Results of Operation.
---------------------

          As at March 31, 2000, the Company had $217,711 in cash and prepaid
expenses, $456,578 in assets and $650,000 in Promissory Notes to be retired
prior to year end.  Liabilities totaled $488,113, comprised of current accounts
 payable
of $391,855 and deferred revenue of $96,258.  The Company realized revenues of
$192,764 for the quarter ended March 31, 2000, and incurred net losses from
operations of $1,069,337, with total net comprehensive losses to date of
$1,019,337.

          Operating costs for the quarter ended March 31, 2000, increased over
the same period last year due to increased labor costs, addition of more
equipment, increasing the data feed providers and increased marketing costs.

          In preparation for expansion into the European market, which we
believe
to be a tremendous market opportunity, the Company engaged the services of a
consultant to facilitate potential joint venture opportunities, strategic
alliances and establish contacts with some of the key players in the European
market.

Liquidity.
----------

          At March 31, 2000, the Company had cash on hand of $54,316, with
accounts payable totaling $391,855.

                   PART II - OTHER INFORMATION

Item 1.   Legal Proceedings.

          On June 8th, 1999, AlphaTrade.com was named as a defendant in a
Complaint filed in the District Court, Clark County, Nevada by WebData Corp.
and two of its shareholders.  The Complaint alleges that AlphaTrade.com and
the other Defendants infringed upon trade secrets and other intellectual
property supposedly belonging to WebData.  The Complaint also alleges that
WebData was deprived of certain corporate opportunities.  Damages and
declaratory relief were requested.

          AlphaTrade believes that the alleged technology described by WebData
in its Complaint is either in the public domain or uses rudimentary parsing
technology.  Further, Web Data has not been able to produce any technology or
documentation on its alleged technology to substantiate its claim.  Thus,
AlphaTrade believes Web Data has no trade secrets or proprietary technology and
therefore AlphaTrade did not deprive WebData of any corporate opportunity.
AlphaTrade will vigorously defend this position and the Company does not believe
that the WebData lawsuit will have a material effect on business.  An 8-K
Current Report dated June 16, 1999, was filed by the Company with the Securities
and Exchange Commission on June 25, 1999, regarding this proceeding, and is
incorporated herein by reference.

          In August, 1999, the Plaintiffs filed a Motion for a preliminary
injunction against the Company.  Prior to the hearing before the Courts for
the preliminary injunction in October, 1999, Plaintiff's lawyers notified the
Company's lawyers that they did not wish to proceed with the injunction and it
was removed from the court calendar.

Item 2.   Changes in Securities.

       During the quarter ended March 31, 2000, the Company issued to following
shares:

        The Company issued "unregistered" and "restricted" shares pursuant to a
private placement of 61,957 shares at $5.75 per share.

       In addition, the Company issued 105,000 shares for services; 100,000
shares pursuant to the exercise of a warrant and 6,000 shares pursuant to the
exercise of stock options.

Item 3.   Defaults Upon Senior Securities.

          None; not applicable.

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

          None; not applicable.

Item 5.   Other Information.

          None; not applicable.

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

          (a)  Exhibits.

               Management Agreement attached.

          (b)  Reports on Form 8-K.

             Current Report on Form 8-K, dated June 16, 1999.

                            SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its behalf by
the undersigned thereunto duly authorized.

                                       ALPHATRADE.COM


Date: 5-19-00                       By /s/ Penny Perfect
     ----------                       ---------------------------
                                       Penny Perfect
                                       President/CEO and Director


          Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, this Report has been signed below by the following persons on
behalf of the Company and in the capacities and on the dates indicated:


                                       ALPHATRADE.COM


Date: 5-19-00                       By /s/ Penny Perfect
     -----------                       --------------------------
                                       Penny Perfect
                                       President/CEO and Director



Date: 5-19-00                       By /s/ Gordon Muir
     -----------                       --------------------------
                                       Gordon Muir
                                       Director


Date: 5-19-00                       By /s/ J. Michael Pinkney
     -----------                       --------------------------
                                       J. Michael Pinkney
                                       Secretary/Treasurer and Director


Date: 5-19-00                       By /s/ Victor Cardenas
     -----------                       --------------------------
                                       Victor Cardenas
                                       Director



Date: 5-22-00                       By /s/ Ralph Drewitt
     -----------                       --------------------------
                                       Ralph Drewitt
                                       Director


Date: 5-19-00                       By /s/ Lisa McVeigh
     -----------                       --------------------------
                                       Lisa McVeigh
                                       Director