SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             -----------------------
                                   FORM 10-Q/A
                                (Amendment No. 1)

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

                  For Quarterly period Ended: September 30, 2008; or

         -----    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                  EXCHANGE ACT OF 1934

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

                         Commission File Number: 0-25631
                             -----------------------


                                 ALPHATRADE.COM
         ---------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

         Nevada                                               98-0211652
 ------------------------------                             ------------------
(State or other Jurisdiction of                            (I.R.S. Employer
 Incorporation or Organization)                             Identification No.)

      SUITE 116 - 930 West 1st Street, North Vancouver, B.C. V7P3N4 Canada
          -------------------------------------------------------------
               (Address of principal executive offices) (Zip Code)

                                 (604 ) 986-9866
                            -------------------------
                           (Issuer's telephone number)

        Indicate by check mark 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 a registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90
days. Yes X No

         Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of "large accelerated filer", "accelerated filer",
and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

         Large accelerated filer ?             Accelerated filer ?
         Non-accelerated filer ?               Smaller reporting company |X|

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

        State the number of shares outstanding of the issuer's common equity:
$0.001 par value, as of September 30, 2008, was 52,056,023.

                                        1
<PAGE>
         This Amendment No. 1 on Form 10-Q/A hereby amends the registrant's
quarterly report on Form 10-Q for the period ended September 30, 2008, which the
registrant filed with the Securities and Exchange Commission on November 14,
2008. This amendment is being filed in order to restate the registrant's
financial statements for the period ended March 31, 2008 in order to correct
certain errors in its revenue recognition related to one of its advertising
contracts.

                               Report on Form 10-Q/A
                       For the Quarter Ended September 30, 2008

                                      INDEX

                                                                          Page
                                                                          ----
Part I.  Financial Information

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

                      Balance Sheets.......................................4-5
                      Statements of Operations ............................6-7
                      Statement of Stockholders' Equity (Deficit)........... 8
                      Statements of Cash Flows............................9-10
                      Notes to the Financial Statements .................11-14


         Item 2.      Management's Discussion and Analysis
                        of Financial Condition and Results of Operation     15

         Item 3       Quantitative and Qualitative Disclosures About
                      Market Risk                                           18

         Item 4.      Controls and Procedures ............................. 18

Part II. Other Information

         Item 1.      Legal Proceedings ................................... 18

         Item 1A.     Risk Factors                                          20

         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..............................................21

                      Signatures........................................... 22

                      Certifications.....................................23-28



                                        2
<PAGE>
PART I - FINANCIAL INFORMATION


Item 1.  Financial Statements (unaudited)





















































                                        3
<PAGE>
                                 ALPHATRADE.COM
                                 Balance Sheets
                                   (restated)

                                     ASSETS
                                     ------
                                                   September 30,  December 31,
                                                        2008          2007
                                                   ------------- --------------
                                                    (unaudited)
CURRENT ASSETS
 Cash                                              $        355  $     153,760
 Accounts receivable                                      2,554         28,047
 Marketable securities-available for sale             2,370,478        658,858
 Marketable securities-available for sale
      related party                                       2,093          5,232
 Prepaid expenses                                         8,900            750
                                                   ------------  -------------
        Total Current Assets                          2,384,380        846,647
                                                   ------------  -------------
PROPERTY AND EQUIPMENT, net                              50,467         45,633
                                                   ------------  -------------
OTHER ASSETS

 Investments, at cost                                   300,000        300,000
                                                   ------------  -------------
        TOTAL ASSETS                               $  2,734,847  $   1,192,280
                                                   ============  =============




























   The accompanying notes are an integral part of these financial statements.
                                        4
<PAGE>
                                 ALPHATARADE.COM
                                 Balance Sheets
                                   (restated)

             LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)
             ----------------------------------------------
                                                   September 30,  December 31,
                                                        2008          2007
                                                   ------------- --------------
                                                    (unaudited)
CURRENT LIABILITIES
 Accounts payable and accrued expenses             $  2,091,429  $   2,404,822
 Bank overdraft                                          16,038              -
 Related party payables                               2,626,573      2,190,414
 Deferred revenues                                      214,793      1,130,178
                                                   ------------  -------------
     Total Current Liabilities                        4,948,833      5,725,414
                                                   ------------  -------------
TOTAL LIABILITIES                                     4,948,833      5,725,414
                                                   ------------  -------------
STOCKHOLDERS' EQUITY/(DEFICIT)
 Preferred shares: $0.001 par value,10,000,000
  shares authorized: 2,000,000 Class A and
  2,000,000 Class B shares issues and outstanding         4,000          4,000
 Common shares: $0.001 par value, 100,000,000
  shares authorized: 52,506,023 and 48,589,773
  shares issues and outstanding, respectively            52,056         48,590
 Stock subscription payable                              45,080         28,500
 Additional paid-in capital                          33,465,069     32,719,057
 Accumulated other comprehensive income              (1,828,951)    (1,647,531)
 Accumulated deficit                                (33,951,240)   (35,685,750)
                                                   ------------  -------------
     Total Stockholders' Equity/(Deficit)            (2,213,986)    (4,533,134)
                                                   ------------  -------------
     TOTAL LIABILITIES AND STOCKHOLDERS'
          EQUITY/(DEFICIT)                         $  2,734,847  $   1,192,280
                                                   ------------  -------------



















   The accompanying notes are an integral part of these financial statements.
                                        5
<PAGE>
                                 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,
                                 --------------------------- ---------------------------
                                      2008         2007          2008         2007
                                 ------------- ------------- ------------- -------------
                                   (restated)                  (restated)
REVENUES
 Subscription revenue            $    757,287  $    773,818  $  2,317,050  $  2,298,473
 Advertising revenue                1,060,491       817,523     3,528,786     1,675,992
 Other revenue                         49,409        19,037       144,553        53,725
                                 ------------  ------------  ------------  ------------
    Total Revenues                  1,867,187     1,610,378     5,990,389     4,028,190
                                 ------------  ------------  ------------  ------------
COST OF SALES
 Financial content                    490,615       364,973     1,431,112     1,262,087
 Other cost of sales                      396         1,082         2,538         3,875
                                 ------------  ------------  ------------  ------------
    Total Cost of Sales               491,011       366,055     1,433,650     1,265,962
                                 ------------  ------------  ------------  ------------
GROSS PROFIT                        1,376,176     1,244,323     4,556,739     2,762,228
                                 ------------  ------------  ------------  ------------
OPERATING EXPENSES
 Management expense                   120,000             -       360,000       240,000
 Professional fees                    216,500        49,609       884,488     1,111,773
 Research and development             123,841       139,971       395,544       327,840
 Marketing expense                    146,899     1,819,988       639,822     3,276,579
 General and administrative           175,398       268,242       429,825       638,067
                                 ------------  ------------  ------------  ------------
    Total Operating Expenses          782,638     2,277,810     2,709,679     5,594,259
                                 ------------  ------------  ------------  ------------
INCOME (LOSS) FROM OPERATIONS         593,538    (1,033,487)    1,847,060    (2,832,031)
                                 ------------  ------------  ------------  ------------
OTHER INCOME (EXPENSE)
 Gain (Loss) on sale of assets        (47,215)     (114,771)     (145,147)      (48,350)
 Gain on settlement of debt                 -             -       307,974             -
 Interest expense                     (95,206)            -      (275,377)            -
                                 ------------  ------------  ------------  ------------
    Total Other Income (Expense)     (142,421)     (114,771)     (112,550)      (48,350)
                                 ------------  ------------  ------------  ------------
NET INCOME (LOSS) BEFORE
 INCOME TAXES                         451,117    (1,148,258)    1,734,510    (2,880,381)

INCOME TAX EXPENSE                          -             -             -             -
                                 ------------  ------------  ------------  ------------
</TABLE>













  The accompanying notes are a integral part of these financials statements.
                                        6
<PAGE>
                                 ALPHATRADE.COM
         Statements of Operations and Other Comprehensive Income (Loss)
                                   (unaudited)
                                  (continued)
<TABLE>
<S>                              <C>           <C>           <C>           <C>
                                 For the Three Months Ended   For the Nine Months Ended
                                        September 30,              September 30,
                                 --------------------------- ---------------------------
                                      2008         2007          2008         2007
                                 ------------- ------------- ------------- -------------
                                   (restated)                  (restated)
NET INCOME (LOSS)                $    451,117  $ (1,148,258) $  1,734,510  $ (2,880,381)
                                 ============  ============  ============  ============
OTHER COMPREHENSIVE INCOME (LOSS)$   (527,751) $          -  $   (181,420) $   (342,452)
                                 ------------  ------------  ------------  ------------
TOTAL COMPREHENSIVE INCOME (LOSS)$    (76,634) $ (1,148,258) $  1,553,090  $ (3,222,833)
                                 ============  ============  ============  ============
BASIC EARNINGS (LOSS) PER SHARE  $       0.01  $      (0.03) $       0.03  $      (0.07)
                                 ============  ============  ============  ============
COMPREHENSIVE BASIC EARNINGS
      (LOSS) PER SHARE           $      (0.00) $      (0.03) $       0.03  $      (0.07)
                                 ============  ============  ============  ============
FULLY DILUTED INCOME (LOSS)
      PER SHARE                  $       0.00  $      (0.03) $       0.01  $      (0.07)
                                 ============  ============  ============  ============
COMPREHENSIVE FULLY DILUTED
  INCOME (LOSS) PER SHARE        $      (0.00) $      (0.03) $       0.01  $      (0.07)
                                 ============  ============  ============  ============
BASIC WEIGHTED AVERAGE NUMBER
  OF SHARES OUTSTANDING            51,708,336    44,613,473    50,616,857    43,029,594
                                 ============  ============  ============  ============
FULLY DILUTED WEIGHTED AVERAGE
  NUMBER OF SHARES OUTSTANDING    118,685,186    44,613,472   117,593,707    43,029,594
                                 ============  ============  ============  ============
</TABLE>
























   The accompanying notes are a integral part of these financials statements.
                                        7
<PAGE>
                                 ALPHATRADE.COM
                  Statements of Stockholders' Equity/(Deficit)
                                   (restated)
<TABLE>
<S>                  <C>       <C>    <C>        <C>     <C>         <C>          <C>           <C>            <C>
                     Preferred Stock     Common Stock    Additional   Stock       Other                            Total
                     ---------------- ------------------ Paid-In     Subscription Comprehensive Accumulated    Stockholder's
                      Shares   Amount   Shares   Amount   Capital    Receivable   Income          Deficit        Equity
                     --------- ------ ---------- ------- ----------- ----------   ------------- -------------  -------------
Balance,
 December 31, 2006   4,000,000 $4,000 40,425,027 $40,425 $30,853,661 $ (30,000)   $   (717,860) $(31,111,747)  $   (961,521)
Common stock issued
 for cash at $0.18
 per share                   -      -  2,287,500   2,288     454,212    28,500               -             -        485,000
Common stock issued
 for services at
 $0.20 per share             -      -  5,877,246   5,877   1,052,066         -               -             -      1,057,943
Value of stock
 purchase warrants
 granted                     -      -          -       -     207,728         -               -             -        207,728
Value of stock
 options issued under
 the 2007 stock
 option plan                 -      -          -       -     131,540         -               -             -        131,540
Contributed capital          -      -          -       -      19,850         -               -             -         19,850
Amortization of
 prepaid expense             -      -          -       -           -    30,000               -             -         30,000
Net income for the
 year ended
 December 31, 2007           -      -          -       -           -         -        (929,671)   (4,574,003)    (5,503,674)
                     --------- ------ ---------- ------- ----------- ---------    ------------  ------------   ------------
Balance,
 December 31, 2007   4,000,000  4,000 48,589,773  48,590  32,719,057    28,500      (1,647,531)  (35,685,750)    (4,533,134)
Common stock issued
 for cash at $0.20
 per share                   -      -  1,075,000   1,075     196,425    16,580               -             -        214,080
Common stock
 issued for
 services at $0.17
 per share                   -      -  2,391,250   2,391     392,210         -               -             -        394,601
Value of stock
 purchase warrants
 granted                     -      -          -       -      14,233         -               -             -         14,233
Value of stock
 options issued
 under stock option
 plans                       -      -          -       -     143,144         -               -             -        143,144
Net income for the
 nine months ended
 September 30, 2008          -      -          -       -           -         -        (181,420)    1,734,510      1,553,090
                     --------- ------ ---------- ------- ----------- ---------    ------------  ------------   ------------
Balance,
 September 30, 2008
 (unaudited)         4,000,000 $4,000 52,056,023 $52,056 $33,465,069 $  45,080    $ (1,828,951) $(33,951,240)  $ (2,213,986)
                     ========= ====== ========== ======= =========== =========    ============  ============   ============
</TABLE>


















   The accompanying notes are a integral part of these financials statements.
                                        8
<PAGE>
                                 ALPHATRADE.COM
                            Statements of Cash Flows
                                  (unaudited)

                                                   For the Nine Months Ended
                                                         September 30,
                                                  ----------------------------
                                                        2008         2007
                                                  -------------- -------------
                                                     (restated)
CASH FLOWS FROM OPERATING ACTIVITIES
 Net income (loss)                                $   1,734,510  $ (2,880,381)
 Adjustments to reconcile net income (loss) to
  net cash used by operating activities:
   Depreciation expense                                  13,745        10,010
   Value of stock options and warrants granted          157,377       103,478
   Loss on sale of assets                               145,147        48,350
   Gain on settlement of debt                          (307,972)            -
   Amortization of services prepaid by
      common stock                                            -        30,000
   Investments received as payment for accounts
      receivable                                     (2,135,263)     (862,139)
   Common stock issued for services                     394,601       693,240
 Changes in operating assets and liabilities:
   Proceeds from bank overdraft                          16,038             -
   Changes in accounts receivable                       (34,077)       63,483
   Changes in prepaid expenses                           (8,150)        4,148
   Changes in deferred revenues                        (855,815)        7,050
   Changes in related party payables                    436,159     1,239,072
   Changes in accounts payable and accrued expenses      (5,421)    1,239,143
                                                  -------------  ------------
      Net Cash Used in Operating Activities            (449,121)     (304,546)
                                                  -------------  ------------
CASH FLOWS FROM INVESTING ACTIVITIES

 Sale of securities                                     100,215        57,899
 Purchase of fixed assets                               (18,579)      (23,396)
                                                  -------------  ------------
      Net Cash Provided by Investing Activities          81,636        34,503
                                                  -------------  ------------
CASH FLOWS FROM FINANCING ACTIVITIES

 Stock subscriptions payable                             16,580             -
 Common stock issued for cash                           197,500       191,000
 Contributed capital                                          -        19,850
                                                  -------------  ------------
      Net Cash Provided by Financing Activities         214,080       210,850
                                                  -------------  ------------
      NET DECREASE IN CASH                             (153,405)      (59,193)
      CASH AT BEGINNING OF PERIOD                       153,760       147,323
                                                  -------------  ------------
      CASH AT END OF PERIOD                       $         355  $     88,130
                                                  =============  ============



   The accompanying notes are an integral part of these financial statements.
                                        9
<PAGE>
                                 ALPHATRADE.COM
                            Statements of Cash Flows
                                  (unaudited)
                                  (continued)

                                                   For the Nine Months Ended
                                                         September 30,
                                                  ----------------------------
                                                        2008         2007
                                                  -------------- -------------
                                                     (restated)
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
    CASH PAID FOR:

      Interest                                    $      64,513  $          -
      Income Taxes                                $           -  $          -

    NON CASH FINANCING ACTIVITIES:
      Common stock issued for services
        and contributions                         $     394,601  $    693,240
      Value of stock options and warrants
        granted                                   $     157,377  $    103,478


































   The accompanying notes are an integral part of these financial statements.
                                       10
<PAGE>
                                 ALPHATRADE.COM
                        Notes to the Financial Statements

NOTE 1 - CONDENSED FINANCIAL STATEMENTS

         The accompanying financial statements have been prepared by the Company
         without audit.  In the opinion of management,  all  adjustments  (which
         include only normal recurring  adjustments) necessary to present fairly
         the  financial  position,  results  of  operations  and  cash  flows at
         September 30, 2008 and for all periods presented have been made.

         Certain  information  and  footnote  disclosures  normally  included in
         financial statements prepared in accordance with accounting  principles
         generally  accepted in the United States of America have been condensed
         or omitted. It is suggested that these condensed  financial  statements
         be read in conjunction with the financial  statements and notes thereto
         included  in  the  Company's   December  31,  2007  audited   financial
         statements.  The results of operations for the periods ended  September
         30,  2008 and  2007 are not  necessarily  indicative  of the  operating
         results for the full years.

NOTE 2 - OUTSTANDING COMMON STOCK OPTIONS AND STOCK PURCHASE WARRANTS

         The Company uses the instruments identified as stock options and common
         stock  warrants   somewhat   interchangeably.   Both  forms  of  equity
         instruments have been granted as compensation to the Company's officers
         and directors.

         Under FASB Statement 123R, the Company estimates the fair value of each
         stock award at the grant date by using the Black-Scholes option pricing
         model. The following  weighted  average  assumptions used for grants in
         the periods ended  December 31, 2007 and  September 30, 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  December  31, 2007 and
         changes  during the periods ended  December 31,  2007and  September 30,
         2008 is presented below:
                                           Weighted    Weighted
                                           Options     Average      Average
                                           and         Exercise     Grant Date
                                           Warrants    Price        Fair Value
                                           -----------------------------------
         Outstanding, December 31, 2006    39,822,997  $   0.38     $    0.38
            Granted                        13,618,000      0.25          0.25
            Expired                        (1,130,000)     0.72          0.72
            Exercised                        (740,650)     0.76          0.76

         Outstanding, December 31, 2007    51,570,347  $   0.36     $    0.36

         Exercisable, December 31, 2007    35,925,350  $   0.40     $    0.40

                                       11
<PAGE>
                                 ALPHATRADE.COM
                        Notes to the Financial Statements


NOTE 2 - OUTSTANDING COMMON STOCK OPTIONS AND STOCK PURCHASE WARRANTS
        (Continued)
                                           Weighted    Weighted
                                           Options     Average      Average
                                           and         Exercise     Grant Date
                                           Warrants    Price        Fair Value
                                           -----------------------------------
         Outstanding, December 31, 2007    51,570,347  $   0.36     $    0.36
            Granted                         9,245,000      0.21          0.21
            Expired                        (2,043,497)     0.73          0.73
            Exercised                        (448,650)     0.25          0.25

         Outstanding, September 30, 2008   58,323,200  $   0.32     $    0.32

         Exercisable, September 30, 2008   36,976,850  $   0.37     $    0.37

NOTE 3 - RESTATED FINANCIAL STATEMENTS

         The Company has restated  its  financial  statements  as of and for the
         period ended  September  30, 2008 to reflect the reversal of $2,180,912
         of advertising  revenues not properly recognized in accordance with the
         Company's  revenue   recognition   policy.  The  following   summarized
         financial  statements compare the financial statements before and after
         the restatement.

  CURRENT ASSETS                                      (original)    (restated)
   Cash                                              $        355  $        355
   Accounts receivable                                  4,293,267         2,554
   Marketable securities-available for sale             2,370,478     2,370,478
   Marketable securities-available for sale
      related party                                         2,093         2,093
   Prepaid expenses                                         8,900         8,900
                                                     ------------  ------------
   Total Current Assets                                 6,675,093     2,384,380
                                                     ------------  ------------
  PROPERTY AND EQUIPMENT, net                              50,467        50,467
                                                     ------------  ------------
  OTHER ASSETS
   Investments, at cost                                   300,000       300,000
                                                     ------------  ------------
           TOTAL ASSETS                              $  7,025,560  $  2,734,847
                                                     ============  ============
  CURRENT LIABILITIES
     Accounts payable and accrued expenses          $   2,091,429  $  2,091,429
     Bank overdraft                                        16,038        16,038
     Related party payables                             2,626,573     2,626,573
     Deferred revenues                                  1,438,994       214,793
                                                    -------------  ------------
           Total Current Liabilities                    6,173,034     4,948,833
                                                    -------------  ------------
  TOTAL LIABILITIES                                     6,173,034     4,948,833
                                                    -------------  ------------

                                       12
<PAGE>
  STOCKHOLDERS' EQUITY/(DEFICIT)
     Preferred shares: $0.001 par value,10,000,000
      shares authorized: 2,000,000 Class A and
      2,000,000 Class B shares issues and outstanding       4,000         4,000
     Common shares: $0.001 par value, 100,000,000
      shares authorized:  52,506,023 and 48,589,773
      shares issues and outstanding,respectively           52,056        52,056
     Stock subscription payable                            45,080        45,080
     Additional paid-in capital                        33,465,069    33,465,069
     Accumulated other comprehensive income            (1,828,951)   (1,828,951)
     Accumulated deficit                              (30,884,728)  (33,951,240)
                                                    -------------  ------------
           Total Stockholders' Equity/(Deficit)           852,526    (2,213,986)
                                                    -------------  ------------
           TOTAL LIABILITIES AND
           STOCKHOLDERS' EQUITY/(DEFICIT)           $   7,025,560  $  2,734,847
                                                    =============  ============
     Subscription revenue                           $   2,317,050  $  2,317,050
     Advertising revenue                                5,909,699     3,528,786
     Other revenue                                        144,553       144,553
                                                    -------------  ------------
           Total Revenues                               8,371,302     5,990,389
                                                    -------------  ------------
  COST OF SALES
     Financial content                                  1,431,112     1,431,112
     Other cost of sales                                    2,538         2,538
                                                    -------------  ------------
           Total Cost of Sales                          1,433,650     1,433,650
                                                    -------------  ------------
  GROSS PROFIT                                          6,937,652     4,556,739
                                                    -------------  ------------
  OPERATING EXPENSES
     Management expense                                   360,000       360,000
     Professional fees                                    884,488       884,488
     Research and development                             395,544       395,544
     Marketing expense                                    639,822       639,822
     General and administrative                           629,826       429,825
                                                    -------------  ------------
           Total Operating Expenses                     2,909,680     2,709,679
                                                    -------------  ------------
  INCOME FROM OPERATIONS                                4,027,972     1,847,060
                                                    -------------  ------------
  OTHER INCOME (EXPENSE)
     Gain (Loss) on sale of assets                       (145,147)     (145,147)
     Gain on settlement of debt                           307,974       307,974
     Interest expense                                    (275,377)     (275,377)
                                                    -------------  ------------
           Total Other Income (Expense)                  (112,550)     (112,550)
                                                    -------------  ------------
  NET INCOME BEFORE INCOME TAXES                        3,915,422     1,734,510
  INCOME TAX EXPENSE                                            -             -
                                                    -------------  ------------





                                       13
<PAGE>
  NET INCOME                                        $   3,915,422  $  1,734,510
                                                    =============  ============
  OTHER COMPREHENSIVE INCOME (LOSS)                 $    (181,420) $   (181,420)
                                                    -------------  ------------
  TOTAL COMPREHENSIVE INCOME (LOSS)                 $   3,734,002  $  1,553,090
                                                    =============  ============
  BASIC EARNINGS PER SHARE                          $        0.08  $       0.03
                                                    =============  ============
  COMPREHENSIVE BASIC EARNINGS PER SHARE            $        0.07  $       0.03
                                                    =============  ============
  FULLY DILUTED INCOME PER SHARE                    $        0.03  $       0.01
                                                    =============  ============
  COMPREHENSIVE FULLY DILUTED INCOME PER SHARE      $        0.03  $       0.01
                                                    =============  ============
  BASIC WEIGHTED AVERAGE NUMBER
    OF SHARES OUTSTANDING                              50,616,857    50,616,857
                                                    =============  ============
  FULLY DILUTED WEIGHTED AVERAGE NUMBER
    OF SHARES OUTSTANDING                             117,593,707   117,593,707
                                                    =============  ============





































                                       14
<PAGE>
Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

The following information should be read in conjunction with the financial
statements and notes thereto appearing elsewhere in this Form 10-Q.

Forward-looking and Cautionary Statements

This report contains certain forward-looking statements. These statements relate
to future events or our future financial performance and involve known and
unknown risks and uncertainties. These factors may cause our company's, or our
industry's actual results, levels of activity, performance or achievements to be
materially different from those expressed or implied by the forward-looking
statements. In some cases, you can identify forward-looking statements by
terminology such as "may," "will" "should," "expects," "intends," "plans,"
"anticipates," "believes," "estimates," "predicts," "potential," "continue," or
the negative of these terms or other comparable terminology.

These statements are only predictions. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we cannot guarantee
future results, levels of activity, performance or achievements.

Restated Financial Statements

The Company has restated its financial statements as of and for the period ended
September 30, 2008 to reflect the reversal of $2,180,912 of advertising revenues
because management concluded that the collectability of the subject fees was not
reasonably assured.


Results of Operations.


THREE MONTHS ENDED SEPTEMBER 30, 2008 and 2007
-----------------------------------------

During the three months ended September 30, 2008, revenue growth slowed due to
the unparalleled turbulence and overall decline in all of the financial markets.
Our advertising business grew minimally as many clients put their marketing and
advertising budgets on hold until the economy picked up or their business
outlook improved. Revenue for 2008's third quarter was $1,867,187, which is a
16% increase over 2007's third quarter revenue of $1,610,378. Advertising
revenues in the third quarter were $1,060,491 in 2008 and $817,523 in 2007. We
revised our advertising pricing to reflect the downturn in the economy so we
could attract new business 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, which was launched last quarter. 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



                                       15
<PAGE>
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.

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 third quarter of 2008 our cost
of sales was 26% of revenues compared to 36% of revenues in 2007. As our
revenues increase, this percentage may become more favorable in terms of
profitable operations.

We realized a net income of $451,117 for the three months ended September 30,
2008 compared to a loss of $1,148,258 for the three months ended September 30,
2007. This is an increase of $1,599,375 and directly related to the growth of
our advertising business. During 2008 we paid $539,822 to consultants for
marketing fees.

Included in professional fees for 2008 are shares of common stock to investor
relations consultants valued at $73,033 compared to $384,676 in 2007 and stock
options to our employees valued at $143,144 compared to $103,864 in 2007. For
the most part, the investor relations consultants are hired to bring new
advertising clients to the company. We realized related party compensation
expense of $120,000 for both 2008 and 2007.

Our operating expenses decreased to $782,641 in 2008 from $2,277,810 in 2007
mainly due to the fact that we did not renew or we terminated our sports
sponsorships.

Historically, many of our expenses are paid in shares of our common stock. The
expenses are recorded at the fair value of the shares issued. Excluding these
non cash expenses the income (loss) for the three months ended September 30,
2008 and 2007 would have been $667,294 and ($763,582), respectively. The loss in
2007 is almost entirely due to the payments made on behalf of our sports
sponsorships.


NINE MONTHS ENDED SEPTEMBER 30, 2008 AND 2007
---------------------------------------------
During the nine months ended September 30, 2008, revenue growth was driven by
our increased advertising business. Revenue for the first three quarters of 2008
was $5,990,389, which is a 49% increase over the revenue for 2007's first three
quarters of $4,028,190. The most substantial growth was advertising and within
that category the largest increase was from referral and repeat business.
Advertising revenue in 2008's first three quarters was $3,528,786 compared to
$1,675,992 in 2007's first three quarters. Our advertising model is unique in
the industry because we have a high traffic website and our audience is
comprised of a specific demographic. We are building a client base of companies
that are seeking brand awareness in combination with building their shareholder
base. Our advertising client base is increasing because we have created
relationships with investor and public relations firms.



                                       16
<PAGE>
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, which was launched last quarter. The
site provides a comprehensive forum for companies, business 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.

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 first three quarters of 2008
our cost of sales was 28% of revenues compared to 31% in 2007. As our
advertising revenues increase, this percentage may become more favorable in
terms of profitable operations.

We realized net income of $1,734,510 for the first three quarters ended
September 30, 2008 compared to a loss of $2,880,381 for the first three quarters
ended September 30, 2007. This is an increase of $4,614,891 and directly related
to the growth of our advertising business. During the first nine months of 2008,
none of our sports partnerships were active. In some cases, we terminated the
sports sponsorship program for lack of tangible results and in some cases, we
terminated due to breaches. To date in2008 we paid a total of $158,445 to a
number of our sports sponsorship programs. During 2008 we paid $481,377 to
consultants for marketing fees.

Included in professional fees for 2008 are shares of common stock to investor
relations consultants valued at $394,601 compared to $693,240 in 2007 and stock

options to our employees valued at $157,377 compared to $103,478 in 2007. For
the most part, the investor relations consultants are hired to bring new
advertising clients to the company. We realized related party compensation
expense of $360,000 for both 2008 and 2007. Our operating expenses decreased to
$2,709,680 in 2008 from $5,594,259 in 2007 mainly due to the fact that we did
not renew or we terminated our sports sponsorships.

Historically, many of our expenses are paid in shares of our common stock. The
expenses are recorded at the fair value of the shares issued. Excluding these
non cash expenses the income (loss) for the first half of 2008 and 2007 would
have been $2,286,488 and ($2,083,663), respectively. The loss in 2007 is almost
entirely due to the payments made on behalf of our sports sponsorships.

Liquidity and Capital Resources.

We have consistently been financed through loans from related parties and from
raising capital through private equity offerings. We used $449,121 and $304,546
of cash in our operating activities in the first nine months of 2008 and 2007,
respectively. For the nine months ended September 30, 2008 and 2007 we received



                                       17
<PAGE>
cash totaling $214,080 and $210,850 from the issuance of our common stock and
contributed capital. We expect that in the next twelve months the cash generated
by our operations will be adequate to cover our operating expenses.

Given the right circumstances, we would entertain a secondary financing if it
would ensure our growth could be greatly fast-tracked otherwise we will focus on
building our business via revenue growth. Currently, we do not have any
definitive plans for a secondary financing.

We currently have no material commitments for major capital expenditures.


Item 3.  Quantitative and Qualitative Disclosures About Market Risk

N/A


Item 4.  Controls and Procedures

         As of the end of the period covered by this report, we carried out an
evaluation, under the supervision and with the participation of management,
including our chief executive officer and principal financial officer, of the
effectiveness of the design and operation of our disclosure controls and
procedures as defined in Rules 13a-15(e) and 15d-15(e) of the Securities
Exchange Act of 1934. Based upon that evaluation, our chief executive officer
and principal financial officer concluded that our disclosure controls and
procedures are not effective to cause the material information required to be
disclosed by us in the reports that we file or submit under the Exchange Act to
be recorded, processed, summarized and reported within the time periods
specified in the SEC's rules and forms. Management determined that due to the
lack of personnel with adequate knowledge, experience and training of United
States Generally Accepted Accounting Principles, the Company's disclosure
controls and procedures were not effective as of September 30, 2008. There have
been no significant changes in our internal controls or in other factors which
could significantly affect internal controls subsequent to the date we carried
out our evaluation.


PART II - OTHER INFORMATION.

Item 1. Legal Proceedings.


AlphaTrade.com is the Defendant in litigation pending in the Supreme Court of
British Columbia, Canada. This action was filed on December 23, 2003 and is
between Zacks Investment Services, Inc. as Plaintiff and AlphaTrade.com as
Defendant. The case number is 5036907.

The Plaintiff alleges that it is owed the sum of $279,664 pursuant to a
licensing Agreement executed by the Plaintiff and the Defendant in 1999.
Alphatrade is aggressively defending itself against this claim.

During the year ending December 31, 2002, a company filed an action against
AlphaTrade in the Supreme Court of British Columbia, Canada claiming unspecified



                                       18
<PAGE>
damages. AlphaTrade filed a Statement of Defense in August, 2002. There has been
no further developments in this action. AlphaTrade plans to vigorously defend
itself.

Arena Media Networks LLC v. AlphaTrade.com
Supreme Court of the State of New York, County of New York, Index No. 603406/06
-------------------------------------------------------------------------------

Plaintiff Arena Media Networks LLC ("Arena") commenced this action on or about
October 15, 2007 by the filing of a Summons and Complaint. In the Complaint,
Arena asserts causes of action for breach of contract, account stated and unjust
enrichment against the Company arising from the Company's alleged failure to pay
sums purportedly due Arena pursuant to an agreement in which Arena agreed to
place advertising for the Company.

The Company answered the Complaint on February 1, 2008. In its Answer, the
Company denies the material allegations of the Complaint and asserts numerous
affirmative defenses. This action is presently in the discovery stage. The
Company intends to vigorously defend this action.

Professional Bull Riders, Inc. v. AlphaTrade.com,
United Stated District Court, District of Colorado, Case No. 08-cv-01017 (MSK)

Plaintiff Professional Bull Riders, Inc. ("PBR") commenced this action against
the Company on or about April 15, 2008 in the District Court of Pueblo County,
Colorado, Case No. 2008CV527. The Company removed this action to the United
States District Court for the District of Colorado on May 15, 2008. In its
Complaint, PBR alleges two causes of action arising from the alleged breach of a
Sponsorship Agreement, as amended, and the alleged breach of a settlement
agreement, and seeks damages of over $1,500,000.

The Company denies the material allegations of the Complaint and intends to
vigorously defend this action.

Tommy G Productions, LLC v. AlphaTrade.com,
District Court, Pueblo County, Colorado, Case No. 2008CV1008

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

The Company is required to answer or move with respect to the Complaint on or
before August 10, 2008. The Company denies the allegations of the Complaint and
intends to vigorously defend this action.

Center Operating Company v. AlphaTrade.com,
68th Judicial District Court, Dallas County, Texas, Case No. 2009-156001-1

Plaintiff Center Operating Company ("COC") commenced this action against the
Company on or about September 3, 2008 in the District Court of Dallas County,
Texas, Case No. 2009-156001-1. In its Complaint, COC alleges a cause of action
arising from the alleged breach of a Sponsorship Agreement, and seeks damages of
$185,621.


                                       19
<PAGE>
The Company denies the allegations of the Complaint and intends to vigorously
defend this action.

We are subject to potential liability under contractual and other matters and
various claims and legal actions which may be asserted. These matters arise in
the ordinary course and conduct of our business. While the outcome of the
potential claims and legal actions against us cannot be forecast with certainty,
we believe that such matters should not result in any liability which would have
a material adverse effect on our business.

Item 1A. Risk Factors

Item 2.
Unregistered Sales of Equity Securities and Use of Proceeds.


The following unregistered securities have been issued since January 1st, 2008:
                                            Valued
Date          No. of Shares      Title      At          Reason
Jan./2008       400,000         Common      $0.20       For cash
Jan./2008       440,750         Common      $0.20       For services
Feb./2008       300,000         Common      $0.20       For cash
Feb./2008       480,000         Common      $0.20       For services
March/2008       45,000         Common      $0.20       For services
March/2008       25,000         Common      $0.20       For cash
April/2008       10,000         Common      $0.17       For services
May/2008        520,000         Common      $0.17       For services
June/2008       415,000         Common      $0.17       For services
June/2008       300,000         Common      $0.20       For cash
July/2008       130,500         Common      $0.165      For services
Aug./2008       150,000         Common      $0.13       For services
Aug./2008       200,000         Common      $0.16       For services
Sept./2008       50,000         Common      $0.15       For cash

The above noted shares were issued in private, isolated transactions without
registration under the Securities Act. The shares were issued in reliance on the
exemption provided by Rule 506 and/or Section 4(2) of the Securities Act as a
transaction by an issuer not involving a public offering to Consultants or to
companies owned or controlled by Consultants or Officers of AlphaTrade.

Item 3. Defaults Upon Senior Securities.

        None.

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

        None.


Item 5. Other Information.

        None.





                                       20
<PAGE>
Item 6. Exhibits.

        (a) Exhibits

         Exhibit 31.1   Certification of C.E.O. Pursuant to Section 302 of
                        the Sarbanses-Oxley Act of 2002.

         Exhibit 31.2   Certification of Principal Accounting Officer
                        Pursuant to Section 302 of the Sarbanses-Oxley Act of
                        2002.

         Exhibit 32.1   Certification of C.E.O. Pursuant to 18 U.S.C. Section
                        1350,  as  Adopted  Pursuant  to  Section  906 of the
                        Sarbanes-Oxley Act of 2002

         Exhibit 32.2   Certification   of   Principal   Accounting   Officer
                        Pursuant to 18 U.S.C.  Section 1350, as Adopted
                        Pursuant to Section 906 of the  Sarbanes-Oxley Act of
                        2002



        (b) Report on Form 8-K

              None
































                                       21
<PAGE>
                                   SIGNATURES

In accordance with the requirements of the 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:    March 19, 2009                                /s/ Penny Perfect
                                                   ----------------------------
                                                   President / Director



Date:    March 19, 2009                                /s/ Katharine Johnston
                                                   ----------------------------
                                                   Principal Accounting Officer





































                                       22