UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C., 20549
                                 FORM 10-Q SB/A

(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES  EXCHANGE
ACT OF 1934

                 For the quarter report ended September 30, 2001
                                       or

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

                  For the transition period from to ___________

                        Commission File number 000-25631

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

         Nevada                                         Applied for
(State or other jurisdiction of                      (I.R.S. Employer
incorporation or organization)                       Identification No.)

        Suite 400, 1111 West Georgia Street, Vancouver, BC Canada V6E4M3
                     (Address of principal executive office)

         Registrants telephone no., including area code (604) 681-7503

                                      N/A.
                    (Former name, changed since last report)

     Check whether the registrant (1) has filed all reports required to be filed
by  Section  13 or 15(d)  of the  Securities  Exchange  Act of 1934  during  the
preceding 12 months (or for such shorter period that the registrant was required
to file such  reports),  Yes [X] No [ ] and (2) has been  subject to such filing
requirements for the past 90 days. Yes [X] No [ ]

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

     Indicate the number of shares  outstanding of each of the issuers  classes
of common stock, as of the last practicable date.

      Class                           Outstanding as of  September 30, 2001
Common Stock, $0.001                             30,539,287
                                        i





                                TABLE OF CONTENTS
                          PART 1. FINANCIAL INFORMATION

Heading                                                                  Page

Item 1.                    Consolidated Financial Statements               1

                           Consolidated Balance Sheets  September 30, 2001
                              And December 30, 2000                        2-3

                           Consolidated Statements of Operations   nine months
                              Ended September 30, 2001
                              and September 30, 2000                       4

                           Consolidated Statement of Stockholders Equity   5-14

                           Consolidated Statements of Cash Flows  nine months
                                Ended September 30, 2001
                                and September 30, 2000                     15

                           Notes to Consolidated Financial Statements      16-18

Item 2.                    Management Discussion and Analysis and
                              Result of  Operations                        19-20




                           PART II. OTHER INFORMATION

Item 1.                    Legal Proceedings                               21

Item 2.                    Changes in Security                             21

Item 3.                    Defaults Upon Senior Securities                 21

Item 4.                    Submission of Matter to a Vote of               21
                               Securities Holders

Item 5.                    Other Information                               21

Item 6.                    Exhibits and Reports on Form 8-K                21

                           Signatures                                      S-1






                                       ii



                         PART 1  FINANCIAL INFORMATION

                           Item 1. Financial Statement


     The  accompanying  unaudited  financial  statements  have been  prepared in
accordance  with the  instructions  for Form  10-Q  pursuant  to the  rules  and
regulations of the Securities and Exchange  Commission  and,  therefore,  do not
include all information and footnotes  necessary for a complete  presentation of
the financial  position,  results of operations,  cash flows,  and  stockholders
equity in conformity  with  generally  accepted  accounting  principles.  In the
opinion  of  management,   all  adjustments  considered  necessary  for  a  fair
presentation  of the results of  operations  and  financial  position  have been
included and all such adjustments are of a normal recurring nature.

     The unaudited  balance  sheet of the Company as of September 30, 2001,  and
the related  audited  balance sheet of the Company as of December 31, 2000,  the
unaudited  statement of operations  and cash flows for the nine months ended and
the audited  statements of stockholders  equity for the period from December 31,
1997 through  December 31, 2000 and the  unaudited  stockholders  equity for the
period  January 1, 2001  through  September  30,  2001 are  attached  hereto and
incorporated herein by this reference.

     Operating  results  for the  quarters  ended  September  30,  2001  are not
necessarily  indicative  of the results that can be expected for the year ending
December 31, 2001.



                                 ALPHATRADE.COM

                              FINANCIAL STATEMENTS

                    September 30, 2001 and December 31, 2000



                                 ALPHATRADE.COM
                                 Balance Sheets




                                     ASSETS

                                                September 30,     December 31,
                                                   2001                2000
                                                (Unaudited)
CURRENT ASSETS

Cash$                                                  3,653          $   1,889
Accounts receivable                                    4,403                  -
Prepaid expenses                                         879             60,834

Total Current Assets                                   8,935             62,723

FIXED ASSETS

Computer equipment                                   150,897            133,044
Office equipment                                      21,337             21,337
Software                                              68,306             68,175
Accumulated depreciation                             (96,798)           (60,819)

Total Fixed Assets                                   143,742            161,737

OTHER ASSETS

Investment                                                 -                  -
Technology                                                 -                  -

Total Other Assets                                         -                  -

TOTAL ASSETS                                       $ 152,677          $ 224,460

                                 ALPHATRADE.COM
                           Balance Sheets (Continued)


                 LIABILITIES AND STOCKHOLDERS EQUITY (DEFICIT)

                                           September 30,     December 31,
                                             2001                2000
                                          (Unaudited)
CURRENT LIABILITIES

Bank overdraft                            $     1,4$               -
Accounts payable                              185,530        423,218
Interest payable - related party               19,995         34,547
Related party payable                       1,205,112        526,050
Note payable                                   14,000         14,000
Deferred revenue                               16,980              -

Total Current Liabilities                   1,443,032        997,815

Total Liabilities                           1,443,032        997,815

STOCKHOLDERS EQUITY (DEFICIT)

Convertible preferred stock:
par value $0.001 per share;
10,000,000 shares authorized, 2,000,000
hares issued
and outstanding                                 2,000          2,000
Common stock: $0.001 par
value 100,000,000 shares
authorized; 30,539,287 and
15,262,537 shares issued
and outstanding,
respectively                                   30,539         15,262
Additional
paid-in capital                             7,599,046      5,029,148
Accumulated deficit                        (8,921,940)    (5,819,765)

Total Stockholders
Equity (Deficit)                           (1,290,355)      (773,355)

TOTAL LIABILITIES
AND STOCKHOLDERS
EQUITY (DEFICIT)                          $   152,677    $   224,460

                                 ALPHATRADE.COM
                            Statements of Operations
                                   (Unaudited)

                                              For the Three Months Ended
                                                          September 30,
                                                     2001              2000

REVENUE

   Subscription revenue                      $         62,736  $         4,540

     Total Revenue                                     62,736            4,540

EXPENSES

   Depreciation expense                                12,027           10,209
   Rent expense                                        22,710           29,827
   General and administrative
     expenses                                       1,043,960          404,683

     Total Expenses                                 1,078,697          444,719

LOSS FROM OPERATIONS                               (1,015,961)        (440,179)

OTHER INCOME (EXPENSES)

   Interest expense                                   (13,523)               -
   Other income                                             -            3,100

     Total Other (Expenses)                           (13,523)           3,100

NET LOSS                                           (1,029,484)        (437,079)

OTHER COMPREHENSIVE LOSS

   Loss on valuation of  investment                         -                -

     Total Other Comprehensive Loss                         -                -

NET COMPREHENSIVE LOSS                       $     (1,029,484) $      (437,079)

NET LOSS PER SHARE                           $          (0.04) $         (0.03)






                                     For the Nine Months Ended
                                          September 30,
                                      2001              2000

REVENUE

Subscription revenue               $   139,761    $   304,760

Total Revenue                          139,761        304,760

EXPENSES

Depreciation expense                    35,979         29,547
Rent expense                            68,375         74,518
General and administrative
expenses                             3,072,564      2,334,683

Total Expenses                       3,176,918      2,438,748

LOSS FROM OPERATIONS                (3,037,157)    (2,133,988)

OTHER INCOME (EXPENSES)

Interest expense                       (65,269)             -
Other income                               250          3,100

Total Other (Expenses)                 (65,019)         3,100

NET LOSS                            (3,102,176)    (2,130,888)

OTHER COMPREHENSIVE LOSS

Loss on valuation of investment              -        (25,000)

Total Other Comprehensive Loss               -        (25,000)

NET COMPREHENSIVE LOSS        $    (3,102,176) $    (2,155,888)

NET LOSS PER SHARE            $       (0.14)   $        (0.17)



    The accompanying notes are an integral part of this financial statement.

                                 ALPHATRADE.COM
                   Statements of Stockholders Equity (Deficit)



                                                   Preferred Stock
                                           Shares                Amount

Balance, December 31, 1999                2,000,000  $          2,000

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

Stock issued for services at
 $7.06 per share                                  -                 -

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

Stock issued for prepaid
 expenses at $8.94 per
 share                                            -                 -

Common stock issued for
 cash at $5.75 per share                          -                 -
Common stock issued for
 cash at $2.00 per share                          -                 -

Common stock issued for
 exercise of options at $1.00
 per share                                        -                 -

Common stock issued for
 exercise of options at $1.00
 per share                                        -                 -

Balance Forward                           2,000,000  $          2,000




                                 ALPHATRADE.COM
                   Statements of Stockholders Equity (Deficit)


                                    Common Stock
                                Shares         Amount


Balance, December 31, 1999     11,850,830   $   11,851

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

Stock issued for services at
$7.06 per share                    25,000           25

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

Stock issued for prepaid
expenses at $8.94 per
share                              30,000           30

Common stock issued for
cash at $5.75 per share            61,957           62
Common stock issued for
cash at $2.00 per share             5,750            6

Common stock issued for
exercise of options at $1.00
per share                           4,000            4

Common stock issued for
exercise of options at $1.00
per share                           2,000            2

Balance Forward                12,139,517   $   12,140








                                 ALPHATRADE.COM
                   Statements of Stockholders Equity (Deficit)

                                Additional
                                 Paid In       Subscriptions
                                 Capital         Receivable

Balance, December 31, 1999     $2,243,554   $ (250,000)

Stock issued on exercise of
warrants at $1.25 per share       124,900            -

Stock issued for services at
$7.06 per share                   176,538            -

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

Stock issued for prepaid
expenses at $8.94 per
share                             268,080            -

Common stock issued for
cash at $5.75 per share           356,191            -
Common stock issued for
cash at $2.00 per share            11,494            -

Common stock issued for
exercise of options at $1.00
per share                           3,996            -

Common stock issued for
exercise of options at $1.00
per share                           1,998            -

Balance Forward                $3,246,691   $ (250,000)






                                 ALPHATRADE.COM
                   Statements of Stockholders Equity (Deficit)

                                            Other
                                  Comprehensive  Accumulated
                                    Loss            Deficit

Balance, December 31, 1999        (100,000)   $(2,173,861)

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

Stock issued for services at
$7.06 per share                          -              -

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

Stock issued for prepaid
expenses at $8.94 per
share                                    -              -

Common stock issued for
cash at $5.75 per share                  -              -
Common stock issued for
cash at $2.00 per share                  -              -

Common stock issued for
exercise of options at $1.00
per share                                -              -

Common stock issued for
exercise of options at $1.00
per share                                -              -

Balance Forward                $  (100,000)   $(2,173,861)




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


                                                Preferred Stock
                                            Shares          Amount

Balance Forward                           2,000,000  $          2,000

Common stock issued for
 exercise of options at
 $3.50 per share                                  -                 -

Common stock issued for
 exercise of options at
 $3.50 per share                                  -                 -

Receipt of stock subscription                     -                 -

Common stock issued for
 exercise of options valued at
 $3.50 per share                                  -                 -

Common stock issued for
 cash at $0.50 per share                          -                 -

Common stock issued for
 exercise of options for
 services valued at $1.00
 per share                                        -                 -

Common stock issued for
 exercise of options valued
 at $0.20 per share                               -                 -

Common stock issued for
 cash at $0.50 per share                          -                 -

Balance Forward                           2,000,000  $          2,000




                                       Common Stock
                                   Shares        Amount


Balance Forward                 12,139,517   $   12,140
Common stock issued for
exercise of options at
$3.50 per share                     45,885           46

Common stock issued for
exercise of options at
$3.50 per share                     30,250           30

Receipt of stock subscription            -            -

Common stock issued for
exercise of options valued at
$3.50 per share                     15,200           15

Common stock issued for
cash at $0.50 per share            350,000          350

Common stock issued for
exercise of options for
services valued at $1.00
per share                           50,000           50

Common stock issued for
exercise of options valued
at $0.20 per share                 100,000          100

Common stock issued for
cash at $0.50 per share            775,000          775

Balance Forward                 13,505,872   $   13,506



                                Additional
                                  Paid in     Subscriptions
                                  Capital     Receivable


Balance Forward                 $3,246,691   $ (250,000)
Common stock issued for
exercise of options at
$3.50 per share                    160,552            -

Common stock issued for
exercise of options at
$3.50 per share                    105,849            -

Receipt of stock subscription            -      250,000

Common stock issued for
exercise of options valued at
$3.50 per share                     53,185            -

Common stock issued for
cash at $0.50 per share            174,650            -

Common stock issued for
exercise of options for
services valued at $1.00
per share                           49,950            -

Common stock issued for
exercise of options valued
at $0.20 per share                  99,900            -

Common stock issued for
cash at $0.50 per share            386,725            -

Balance Forward                 $4,277,502      $      -





                                          Other
                                Comprehensive     Accumulated
                                    Loss             Deficit


Balance Forward                 $  (100,000)   $(2,173,861)

Common stock issued for
exercise of options at
$3.50 per share                           -              -

Common stock issued for
exercise of options at
$3.50 per share                           -              -

Receipt of stock subscription             -              -

Common stock issued for
exercise of options valued at
$3.50 per share                           -              -

Common stock issued for
cash at $0.50 per share                   -              -

Common stock issued for
exercise of options for
services valued at $1.00
per share                                 -              -

Common stock issued for
exercise of options valued
at $0.20 per share                        -              -

Common stock issued for
cash at $0.50 per share                   -              -

Balance Forward                 $  (100,000)   $(2,173,861)





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


                                                  Preferred Stock
                                             Shares            Amount


Balance Forward                           2,000,000  $          2,000

Common stock issued for
 services at $0.89 per share                      -                 -

Common stock issued for
 services at $1.00 per share                      -                 -

Common stock issued for
 services at $0.43 per share                      -                 -

Common stock issued for
 exercise of options at $3.50                    -                  -

Common stock issued for
 services  at $2.25 per share                     -                 -

Common stock issued for
 services at $0.22 per share                      -                 -

Common stock issued for
 services at $0.20 per share                      -                 -

Common stock issued for
 services at $0.18 per share                      -                 -

Common stock issued for
 services at $0.16 per share                      -                 -

Unrealized loss on investment                     -                 -

Balance Forward                           2,000,000  $          2,000



                                      Common Stock
                                   Shares        Amount

Balance Forward                 13,505,872   $   13,506
Common stock issued for
services at $0.89 per share          3,000            3

Common stock issued for
services at $1.00 per share         15,000           15

Common stock issued for
services at $0.43 per share        125,000          125

Common stock issued for
exercise of options at $3.50        88,665           89

Common stock issued for
services at $2.25 per share         25,000           25

Common stock issued for
services at $0.22 per share        850,000          849

Common stock issued for
services at $0.20 per share        575,000          575

Common stock issued for
services at $0.18 per share         50,000           50

Common stock issued for
services at $0.16 per share         25,000           25

Unrealized loss on investment            -            -

Balance Forward                 15,262,537   $   15,262


                                 Additional
                                  Paid in            Subscription
                                  Capital             Receivable

Balance Forward                 $4,277,502   $              -
Common stock issued for
services at $0.89 per share          2,669                  -

Common stock issued for
services at $1.00 per share         14,985                  -

Common stock issued for
services at $0.43 per share         54,173                  -

Common stock issued for
exercise of options at $3.50       310,239                  -

Common stock issued for
services at $2.25 per share         56,225                  -

Common stock issued for
services at $0.22 per share        186,150                  -

Common stock issued for
services at $0.20 per share        114,425                  -

Common stock issued for
services at $0.18 per share          8,900                  -

Common stock issued for
services at $0.16 per share          3,880                  -

Unrealized loss on investment            -                  -

Balance Forward                 $5,029,148   $              -


                                          Other
                                Comprehensive   Accumulated
                                   Loss            Deficit


Balance Forward                    (100,000)   $(2,173,861)

Common stock issued for
services at $0.89 per share               -              -

Common stock issued for
services at $1.00 per share               -              -

Common stock issued for
services at $0.43 per share               -              -

Common stock issued for
exercise of options at $3.50              -              -

Common stock issued for
services at $2.25 per share               -              -

Common stock issued for
services at $0.22 per share               -              -

Common stock issued for
services at $0.20 per share               -              -

Common stock issued for
services at $0.18 per share               -              -

Common stock issued for
services at $0.16 per share               -              -

Unrealized loss on investment       (25,000)             -

Balance Forward                 $  (125,000)   $(2,173,861)





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

                                   Preferred Stock
                                Shares        Amount


Balance Forward                2,000,000   $   2,000
Recognized loss on valuation
of investment                          -           -

Net loss for the year ended
December 31, 2000                      -           -

Balance, December 31, 2000     2,000,000       2,000

Common stock issued for
services at $0.22 per share
(unaudited)                            -           -

Common stock issued for
services at $0.50 per share
(unaudited)                            -           -

Common stock issued for
services at $0.10 per share
(unaudited)                            -           -

Common stock issued for
exercise of warrants at
$0.25 per share (unaudited)            -           -
Common stock issued for
exercise of options at $3.50
per share (unaudited)                  -           -

Balance Forward                2,000,000   $   2,000




                                    Common Stock
                                Shares          Amount


Balance Forward                15,262,537   $   15,262
Recognized loss on valuation
of investment                           -            -

Net loss for the year ended
December 31, 2000                       -            -

Balance, December 31, 2000     15,262,537       15,262

Common stock issued for
services at $0.22 per share
(unaudited)                       850,000          850

Common stock issued for
services at $0.50 per share
(unaudited)                        14,500           15

Common stock issued for
services at $0.10 per share
(unaudited)                     1,150,000        1,150

Common stock issued for
exercise of warrants at
$0.25 per share (unaudited)        10,000           10
Common stock issued for
exercise of options at $3.50
per share (unaudited)              50,000           50

Balance Forward                17,337,037   $   17,337


                                Additional
                                Paid in               Subscription
                                Capital                Receivable

Balance Forward                $5,029,148   $              -
Recognized loss on valuation
of investment                           -                  -

Net loss for the year ended
December 31, 2000                       -                  -

Balance, December 31, 2000      5,029,148                  -

Common stock issued for
services at $0.22 per share
(unaudited)                       186,150                  -

Common stock issued for
services at $0.50 per share
(unaudited)                         7,235                  -

Common stock issued for
services at $0.10 per share
(unaudited)                       113,850                  -

Common stock issued for
exercise of warrants at
$0.25 per share (unaudited)         2,490                  -
Common stock issued for
exercise of options at $3.50
per share (unaudited)             174,950                  -

Balance Forward                $5,513,823   $              -








                                         Other
                                Comprehensive   Accumulated
                                   Loss          Deficit

Balance Forward                $  (125,000)   $(2,173,861)

Recognized loss on valuation
of investment                      125,000              -

Net loss for the year ended
December 31, 2000                        -     (3,645,904)

Balance, December 31, 2000               -     (5,819,765)

Common stock issued for
services at $0.22 per share
(unaudited)                              -              -

Common stock issued for
services at $0.50 per share
(unaudited)                              -              -

Common stock issued for
services at $0.10 per share
(unaudited)                              -              -

Common stock issued for
exercise of warrants at
$0.25 per share (unaudited)              -              -
Common stock issued for
exercise of options at $3.50
per share (unaudited)                    -              -

Balance Forward            $             -    $(5,819,765)



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


                                  Preferred Stock
                                  Shares        Amount

Balance Forward                2,000,000   $   2,000

Common stock issued for
exercise of options at $0.50
per share (unaudited)                  -           -

Common stock issued for
services at $0.10 per share
(unaudited)                            -           -

Common stock issued for
cash at $0.10 per share
(unaudited)                            -           -

Common stock issued for
services at $0.1875 per
share (unaudited)                      -           -

Common stock issued for
services at $0.125 per
share (unaudited)                      -           -

Common stock issued for
exercise of options at $1.00
per share (unaudited)                  -           -

Balance Forward                2,000,000   $   2,000




                                  Common Stock
                                 Shares         AMount


Balance Forward                17,337,037   $   17,337
Common stock issued for
exercise of options at $0.50
per share (unaudited)             150,000          150

Common stock issued for
services at $0.10 per share
(unaudited)                       243,000          243

Common stock issued for
cash at $0.10 per share
(unaudited)                       250,000          250

Common stock issued for
services at $0.1875 per
share (unaudited)                 100,000          100

Common stock issued for
services at $0.125 per
share (unaudited)                 100,000          100

Common stock issued for
exercise of options at $1.00
per share (unaudited)              89,000           89

Balance Forward                18,269,037   $   18,269





                                Additional
                                paid in                Subscriptions
                                capital                receivable


Balance Forward                $5,513,823   $              -

Common stock issued for
exercise of options at $0.50
per share (unaudited)              74,850                  -

Common stock issued for
services at $0.10 per share
(unaudited)                        24,057                  -

Common stock issued for
cash at $0.10 per share
(unaudited)                        24,750                  -

Common stock issued for
services at $0.1875 per
share (unaudited)                  18,650                  -

Common stock issued for
services at $0.125 per
share (unaudited)                  12,400                  -

Common stock issued for
exercise of options at $1.00
per share (unaudited)              88,911                  -

Balance Forward                $5,757,441   $              -



                                          Other
                                  Comprehensive   Accumulated
                                        Loss       Deficit


Balance Forward            $             -    $(5,819,765)

Common stock issued for
exercise of options at $0.50
per share (unaudited)                    -              -

Common stock issued for
services at $0.10 per share
(unaudited)                              -              -

Common stock issued for
cash at $0.10 per share
(unaudited)                              -              -

Common stock issued for
services at $0.1875 per
share (unaudited)                        -              -

Common stock issued for
services at $0.125 per
share (unaudited)                        -              -

Common stock issued for
exercise of options at $1.00
per share (unaudited)                    -              -

Balance Forward
                           $             -    $(5,819,765)



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

                                                Preferred Stock
                                             Shares          Amount

Balance Forward                           2,000,000  $          2,000

Common stock issued for
 services at $0.125 per
 share (unaudited)                                -                 -

Common stock issued for
 services (unaudited)                             -                 -

Common stock issued for
 services at $0.22 per share
 (unaudited)                                      -                 -
Cancellation of common
 stock issued on March 23,
 2001 for services (unaudited)                    -                 -

Cancellation of common
 stock issued on March 15,
 2001 for options (unaudited)                     -                 -

Exercise of stock warrant
 at $0.25 per share (unaudited)                   -                 -

Common stock issued for
 cash at $0.085 per share
 (unaudited)                                      -                 -

Common stock issued for
 services at $0.155 per share
 (unaudited)                                      -                 -

Common stock issued for
 cash at $0.075 per share
 (unaudited)                                      -                 -

Balance Forward                           2,000,000  $          2,000



                                         Common Stock
                                       Shares          Amount

Balance Forward                   18,269,037    $    18,269
Common stock issued for
services at $0.125 per
share (unaudited)                     20,000             20

Common stock issued for
services (unaudited)                 300,000            300

Common stock issued for
services at $0.22 per share
(unaudited)                          850,000            850

Cancellation of common
stock issued on March 23,
2001 for services (unaudited)       (300,000)          (300)

Cancellation of common
stock issued on March 15,
2001 for options (unaudited)         (89,000)           (89)

Exercise of stock warrant
at $0.25 per share (unaudited)         5,000              5

Common stock issued for
cash at $0.085 per share
(unaudited)                        1,075,000          1,075

Common stock issued for
services at $0.155 per share
(unaudited)                          200,000            200

Common stock issued for
cash at $0.075 per share
(unaudited)                        1,200,000          1,200

Balance Forward                   21,530,037    $    21,530




                                  Additional
                                   Paid in                Subscriptions
                                  Capital                 receivable

Balance Forward                  $ 5,757,441    $              -

Common stock issued for
services at $0.125 per
share (unaudited)                      2,480                   -

Common stock issued for
services (unaudited)                       -                   -

Common stock issued for
services at $0.22 per share
(unaudited)                          186,150                   -

Cancellation of common
stock issued on March 23,
2001 for services (unaudited)              -                   -

Cancellation of common
stock issued on March 15,
2001 for options (unaudited)         (88,911)                  -

Exercise of stock warrant
at $0.25 per share (unaudited)         1,245                   -

Common stock issued for
cash at $0.085 per share
(unaudited)                           90,300                   -

Common stock issued for
services at $0.155 per share
(unaudited)                           30,800                   -

Common stock issued for
cash at $0.075 per share
(unaudited)                           88,800                   -

Balance Forward                  $ 6,068,305    $              -



                                                    Other
                                     Comprehensive     Accumulated
                                        Loss              Deficit

Balance Forward                  $             -   $(5,819,765)

Common stock issued for
services at $0.125 per
share (unaudited)                              -             -

Common stock issued for
services (unaudited)                           -             -

Common stock issued for
services at $0.22 per share
(unaudited)                                    -             -

Cancellation of common
stock issued on March 23,
2001 for services (unaudited)                  -             -

Cancellation of common
stock issued on March 15,
2001 for options (unaudited)                   -             -

Exercise of stock warrant
at $0.25 per share (unaudited)                 -             -

Common stock issued for
cash at $0.085 per share
(unaudited)                                    -             -

Common stock issued for
services at $0.155 per share
(unaudited)                                    -             -

Common stock issued for
cash at $0.075 per share
(unaudited)                                    -             -

Balance Forward                  $             -   $(5,819,765)



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

                                                   Preferred Stock
                                           Shares             Amount

Balance Forward                           2,000,000  $          2,000

Exercise of stock options
 at $0.50 per share (unaudited)                   -                 -

Exercise of stock options
 at $0.20 per share (unaudited)                   -                 -

Common stock issued for
 services at $0.155 per share
 (unaudited)                                      -                 -

Exercise of stock options
 at $0.50 per share (unaudited)                   -                 -

Exercise of stock options
 at $0.50 per share (unaudited)                   -                 -

Common stock issued for
 services at $0.28 per share
 (unaudited)                                      -                 -

Common stock issued for
 services at $0.23 per share
 (unaudited)                                      -                 -

Common stock issued for
 services at $0.185 per share
 (unaudited)                                      -                 -

Common stock issued for
 cash at $0.085 per share
 (unaudited)                                      -                 -

Exercise of stock options
 at $0.50 per share (unaudited)                   -                 -

Balance Forward                           2,000,000  $          2,000



                                     Common Stock
                                   Shares       Amount

Balance Forward                  21,530,037   $   21,530

Exercise of stock options
at $0.50 per share (unaudited)       15,000           15

Exercise of stock options
at $0.20 per share (unaudited)      250,000          250

Common stock issued for
services at $0.155 per share
(unaudited)                          80,000           80

Exercise of stock options
at $0.50 per share (unaudited)      200,000          200

Exercise of stock options
at $0.50 per share (unaudited)      167,500          167

Common stock issued for
services at $0.28 per share
(unaudited)                          25,000           25

Common stock issued for
services at $0.23 per share
(unaudited)                         100,000          100

Common stock issued for
services at $0.185 per share
(unaudited)                         100,000          100

Common stock issued for
cash at $0.085 per share
(unaudited)                         600,000          600

Exercise of stock options
at $0.50 per share (unaudited)       50,000           50

Balance Forward                  23,117,537   $   23,117



                                  Additional
                                    Paid in           Subscription
                                    Capital            Receivable

Balance Forward                  $6,068,305   $              -
Exercise of stock options
at $0.50 per share (unaudited)        7,485                  -

Exercise of stock options
at $0.20 per share (unaudited)       49,750                  -

Common stock issued for
services at $0.155 per share
(unaudited)                          12,320                  -

Exercise of stock options
at $0.50 per share (unaudited)       99,800                  -

Exercise of stock options
at $0.50 per share (unaudited)       83,583                  -

Common stock issued for
services at $0.28 per share
(unaudited)                           6,975                  -

Common stock issued for
services at $0.23 per share
(unaudited)                          22,900                  -

Common stock issued for
services at $0.185 per share
(unaudited)                          18,400                  -

Common stock issued for
cash at $0.085 per share
(unaudited)                          50,400                  -

Exercise of stock options
at $0.50 per share (unaudited)       24,950                  -

Balance Forward                  $6,444,868   $              -



                                           Other
                                      Comprehensive   Accumulated
                                         Loss             Deficit


Balance Forward                   $             -   $(5,819,765)

Exercise of stock options
at $0.50 per share (unaudited)                  -             -

Exercise of stock options
at $0.20 per share (unaudited)                  -             -

Common stock issued for
services at $0.155 per share
(unaudited)                                     -             -

Exercise of stock options
at $0.50 per share (unaudited)                  -             -

Exercise of stock options
at $0.50 per share (unaudited)                  -             -

Common stock issued for
services at $0.28 per share
(unaudited)                                     -             -

Common stock issued for
services at $0.23 per share
(unaudited)                                     -             -

Common stock issued for
services at $0.185 per share
(unaudited)                                     -             -

Common stock issued for
cash at $0.085 per share
(unaudited)                                     -             -

Exercise of stock options
at $0.50 per share (unaudited)                  -             -

Balance Forward                  $              -   $(5,819,765 )


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


                                    Preferred Stock
                                Shares       Amount

Balance Forward                2,000,000   $   2,000
Common stock issued for
services at $0.165 per share
(unaudited)                            -           -

Exercise of stock options at
$0.50 per share (unaudited)            -           -

Exercise of stock options at
$0.50 per share (unaudited)            -           -

Common stock issued for
services at $0.145 per share
(unaudited)                            -           -

Cancellation of common stock
issued on February 6, 2001
for services (unaudited)               -           -

Common stock issued for
services at $0.07 per share
(unaudited)                            -           -

Common stock issued for
services at $0.085 per share
(unaudited)                            -           -

Exercise of stock options at
$0.50 per share (unaudited)            -           -

Exercise of stock options at
$1.00 per share (unaudited)            -           -

Cancellation of common stock
issued for services at $0.50
per share (unaudited)                  -           -

Balance Forward                2,000,000   $   2,000

                                        Common stock
                                    Shares        Amount

Balance Forward                  23,117,537     $23,117

Common stock issued for
services at $0.165 per share
(unaudited)                      1,400,000          1,400

Exercise of stock options at
$0.50 per share (unaudited)        142,500            142

Exercise of stock options at
$0.50 per share (unaudited)        129,750            130

Common stock issued for
services at $0.145 per share
(unaudited)                      1,000,000          1,000

Cancellation of common stock
issued on February 6, 2001
for services (unaudited)           (50,000)           (50)

Common stock issued for
services at $0.07 per share
(unaudited)                        100,000            100

Common stock issued for
services at $0.085 per share
(unaudited)                        110,000            110

Exercise of stock options at
$0.50 per share (unaudited)          1,000              1

Exercise of stock options at
$1.00 per share (unaudited)        100,000            100

Cancellation of common stock
issued for services at $0.50
per share (unaudited)              (17,250)           (17)

Balance Forward                 26,033,537    $    26,033



                                Additional
                                Paid In              Subscription
                                Capital                Receivable


Balance Forward                $ 6,444,868    $              -

Common stock issued for
services at $0.165 per share
(unaudited)                        229,600                   -

Exercise of stock options at
$0.50 per share (unaudited)         71,107                   -

Exercise of stock options at
$0.50 per share (unaudited)         64,745                   -

Common stock issued for
services at $0.145 per share
(unaudited)                        144,000                   -

Cancellation of common stock
issued on February 6, 2001
for services (unaudited)            (4,950)                  -

Common stock issued for
services at $0.07 per share
(unaudited)                          6,900                   -

Common stock issued for
services at $0.085 per share
(unaudited)                          9,240                   -

Exercise of stock options at
$0.50 per share (unaudited)            499                   -

Exercise of stock options at
$1.00 per share (unaudited)         99,900                   -

Cancellation of common stock
issued for services at $0.50
per share (unaudited)               (8,608)                  -

Balance Forward                $ 7,057,301    $              -





                                Other
                                Comprehensive      Accumulated
                                Loss               Deficit


Balance Forward                $              -   $(5,819,765)

Common stock issued for
services at $0.165 per share
(unaudited)                                   -             -

Exercise of stock options at
$0.50 per share (unaudited)                   -             -

Exercise of stock options at
$0.50 per share (unaudited)                   -             -

Common stock issued for
services at $0.145 per share
(unaudited)                                   -             -

Cancellation of common stock
issued on February 6, 2001
for services (unaudited)                      -             -

Common stock issued for
services at $0.07 per share
(unaudited)                                   -             -

Common stock issued for
services at $0.085 per share
(unaudited)                                   -             -

Exercise of stock options at
$0.50 per share (unaudited)                   -             -

Exercise of stock options at
$1.00 per share (unaudited)                   -             -

Cancellation of common stock
issued for services at $0.50
per share (unaudited)                         -             -

Balance Forward                $              -   $(5,819,765)





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


                                                Preferred Stock
                                            Shares           Amount

Balance Forward                           2,000,000  $          2,000
Cancellation of common stock
 issued for services at $1.00
 per share (unaudited)                            -                 -

Exercise of stock options at
 $1.00 per share (unaudited)                      -                 -

Common stock issued for
 services at $0.11 per share
 (unaudited)                                      -                 -

Common stock issued for
 cash at $0.075 per share
 (unaudited)                                      -                 -

Exercise of stock options at
 $1.00 per share (unaudited)                      -                 -

Common stock issued for
 services at $0.09 per share
 (unaudited)                                      -                 -

Common stock issued for
 cash at $0.05 per share
 (unaudited)                                      -                 -

Cancellation of common stock
 issued on January 12, 2001
 for services (unaudited)                         -                 -

Balance Forward                           2,000,000  $          2,000






                                     Common Stock
                                  Shares        Amount

Balance Forward                 26,033,537    $    26,033

Cancellation of common stock
issued for services at $1.00
per share (unaudited)              (17,250)           (17)
Exercise of stock options at
$1.00 per share (unaudited)        253,000            253

Common stock issued for
services at $0.11 per share
(unaudited)                         50,000             50

Common stock issued for
cash at $0.075 per share
(unaudited)                      1,680,000          1,680

Exercise of stock options at
$1.00 per share (unaudited)         50,000             50

Common stock issued for
services at $0.09 per share
(unaudited)                      1,600,000          1,600

Common stock issued for
cash at $0.05 per share
(unaudited)                      1,000,000          1,000

Cancellation of common stock
issued on January 12, 2001
for services (unaudited)           (60,000)           (60)

Balance Forward                 30,589,287    $    30,589




                                Additional
                                Paid in                Subscriptions
                                Capital               Receivable

Balance Forward                $ 7,057,301    $              -
Cancellation of common stock
issued for services at $1.00
per share (unaudited)              (17,232)                  -

Exercise of stock options at
$1.00 per share (unaudited)        252,747                   -
Common stock issued for
services at $0.11 per share
(unaudited)                          5,450                   -

Common stock issued for
cash at $0.075 per share
(unaudited)                        124,320                   -

Exercise of stock options at
$1.00 per share (unaudited)         49,950                   -

Common stock issued for
services at $0.09 per share
(unaudited)                         42,400                   -

Common stock issued for
cash at $0.05 per share
(unaudited)                         49,000                   -

Cancellation of common stock
issued on January 12, 2001
for services (unaudited)           (14,940)                  -
Balance Forward                $ 7,648,996    $              -



                                        Other
                                Comprehensive        Accumulated
                                   Loss               Deficit

Balance Forward                $              -   $(5,819,765)

Cancellation of common stock
issued for services at $1.00
per share (unaudited)                         -             -

Exercise of stock options at
$1.00 per share (unaudited)                   -             -

Common stock issued for
services at $0.11 per share
(unaudited)                                   -             -

Common stock issued for
cash at $0.075 per share
(unaudited)                                   -             -

Exercise of stock options at
$1.00 per share (unaudited)                   -             -

Common stock issued for
services at $0.09 per share
(unaudited)                                   -             -

Common stock issued for
cash at $0.05 per share
(unaudited)                                   -             -

Cancellation of common stock
issued on January 12, 2001
for services (unaudited)                      -             -

Balance Forward                $              -   $(5,819,76)





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

                                                Preferred Stock
                                          Shares          Amount

Balance Forward                           2,000,000  $          2,000

Cancellation of common stock
 issued on September 25, 2001
 for services (unaudited)                         -                 -

Net loss for the nine
 months ended September 30,
 2001(unaudited)                                  -                 -
Balance, September 30, 2001
 (unaudited)                              2,000,000  $          2,000



                                     Common stock
                                  Shares          Amount


Balance Forward                 30,589,287    $    30,589
Cancellation of common stock
issued on September 25, 2001
for services (unaudited)           (50,000)           (50)

Net loss for the nine
months ended September 30,
                        2001(unaudited)  -              -
Balance, September 30, 2001
(unaudited)                     30,539,287    $    30,539





                                Additional
                                 paid in             Subscription
                                Capital               Receivable


Balance Forward                $ 7,648,996    $              -

Cancellation of common stock
issued on September 25, 2001
for services (unaudited)           (49,950)                -

Net loss for the nine
months ended September 30,
   2001(unaudited)                     -                  -
Balance, September 30, 2001
(unaudited)                    $ 7,599,046                    -





                                     Other
                                Comprehensive     Accumulated
                                   Loss             Deficit



Balance Forward                $              -   $(5,819,765)

Cancellation of common stock
issued on September 25, 2001
for services (unaudited)                      -             -

Net loss for the nine
months ended September 30,
          2001(unaudited)                     -    (3,102,176)

Balance, September 30, 2001
(unaudited)                    $              -   $(8,921,940)



                                 ALPHATRADE.COM
                            Statements of Cash Flows
                                   (Unaudited)



                                        For the Nine Months Ended
                                               September 30,
                                        2001                 2000




CASH FLOWS FROM OPERATING ACTIVITIES

Net loss                             $    (3,102,176) $   (2,130,888)
Adjustments to reconcile net
loss to net cash (used)
by operating activities:
Common stock issued
for services                             2,151,800        840,923
Compensation on warrants
issued below market value                        -          7,684
Depreciation expense                        35,979         29,547
Changes in operating
assets and liabilities:
(Increase) decrease in
accounts receivable                         (4,403)             -
(Increase) decrease in
prepaid expenses                            59,997        (57,031)
Increase (decrease) in
accounts payable and accrued              (252,240)       112,788
expenses
Increase (decrease) in
accounts payable -
related party                                    -        336,560
Increase (decrease) in
deferred revenue                            16,980       (288,775)

Net Cash Used by
Operating Activities                    (1,094,063)    (1,149,192)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of fixed assets                   (17,984)       (48,260)

Net Cash Used by
Investing Activities                       (17,984)       (48,260)

CASH FLOWS FROM FINANCING ACTIVITIES

Increase in
bank overdraft                               1,415         25,504
Receipt of
stock subscription                               -        389,245
Proceeds from
notes payable -
related parties                            679,061              -
Common stock
issued for cash                            433,375        689,710

Net Cash Provided
by Financing Activities                  1,113,851      1,104,459

NET CHANGE IN CASH                           1,763        (92,993)

CASH AND CASH
EQUIVALENTS AT
BEGINNING OF YEAR                            1,889         92,993

CASH AND CASH
EQUIVALENTS AT
END OF YEAR                            $     3,53     $        -

SUPPLEMENTAL
DISCLOSURE OF CASH FLOW
INFORMATION:

Interest paid                          $    28,0$               -
Income taxes paid                      $               $        -

SCHEDULE OF
NON-CASH FINANCING ACTIVITIES:

Common stock
issued for services                    $ 2,151,800    $   840,923
Preferred stock
issued for services                   $               $           -
Warrants issued
below market value                    $         -     $     7,684

0

                                 ALPHATRADE.COM
                        Notes to the Financial Statements
                    September 30, 2001 and December 31, 2000


NOTE 1 -      BASIS OF FINANCIAL STATEMENT PRESENTATION

The accompanying unaudited condensed consolidated financial statements have been
prepared by the Company  pursuant to the rules and regulations of the Securities
and Exchange  Commission.  Certain information and footnote disclosures normally
included in financial  statements prepared in accordance with generally accepted
accounting  principles  have been  condensed or omitted in accordance  with such
rules and  regulations.  The  information  furnished  in the  interim  condensed
consolidated  financial  statements  include normal  recurring  adjustments  and
reflects all adjustments, which, in the opinion of management, are necessary for
a fair presentation of such financial  statements.  Although management believes
the disclosures  and information  presented are adequate to make the information
not  misleading,  it is  suggested  that these  interim  condensed  consolidated
financial  statements  be read in  conjunction  with the  Companys  most recent
audited financial statements and notes thereto included in its December 31, 2000
Annual  Report on Form  10-KSB.  Operating  results  for the nine  months  ended
September  30, 2001 are not  necessarily  indicative  of the results that may be
expected for the year ending December 31, 2001.

NOTE 2 -      GOING CONCERN

The  Companys  financial   statements  are  prepared  using  generally  accepted
accounting  principles  applicable  to a going concern  which  contemplates  the
realization  of assets and  liquidation  of  liabilities in the normal course of
business.  The  Company  has  had  limited  activities  since  inception  and is
considered a development  stage company because it has no significant  operating
revenues and, planned principal  operations have not yet commenced.  The Company
has  incurred  losses  from  its  inception   through   September  30,  2001  of
approximately  $9,930,000.  The Company does not have an  established  source of
funds  sufficient  to cover  its  operating  costs  and,  accordingly,  there is
substantial doubt about its ability to continue as a going concern.

In order to develop a reliable  source of  revenues,  and  achieve a  profitable
level of  operations,  the Company  will need,  among other  things,  additional
capital  resources.  Managements  plans  include  concentrating  its efforts on
marketing  the Companys  services and  products and raising  additional  capital
through the sale of exclusive marketing territories,  or through the sale of its
common stock. The proceeds will be used to pay for general  operating  expenses,
pursue  acquisitions  and form  strategic  alliances  that  could  expedite  the
Companys growth. The Company expects that it will need $1,000,000 to $5,000,000
of additional  funds for operations and expansion in 2001.  However,  management
cannot  provide  any   assurances   that  the  Company  will  be  successful  in
accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent  upon its
ability to successfully accomplish the plan described in the preceding paragraph
and  eventually  attain  profitable   operations.   The  accompanying  financial
statements do not include any adjustments that might be necessary if the Company
is unable to continue as a going concern.


                                 ALPHATRADE.COM
                        Notes to the Financial Statements
                    September 30, 2001 and December 31, 2000


NOTE 3 -       SUBSEQUENT EVENTS

     During  October 2001, the Company issued 100,000 shares of common stock for
services at $0.135 per share.

     During  October 2001,  the Company issued 25,000 shares of common stock for
services at $0.11 per share.

     During  October 2001, the Company issued 294,000 stock options to employees
at $1.00 per share for services.

NOTE 4 -       OPTIONS

     At September 30, 2001,  the Company had  authorized  the following  options
pursuant to the 1999 stock  option plan:  Exercise  Number  Number  Number Price
Authorized Exercised Outstanding

$           1.00         1,200,000     235,000     959,000
$           3.50           800,000     330,000     470,000

                         2,000,000               1,554,000

At   September  30,  2001,  the Company had  authorized  the  following  options
     pursuant to the 2000 stock option plan:


                           Number   Number      Number      Exercise
                          Granted  Exercised   Outstanding   Price

Stock options              327,000   327,000         -   $   0.20
Stock options              803,000   785,750    17,250       0.50
Stock awards               590,000   590,000         -       -

At September 30, 2001, the Company had granted the following stock options:

   Grant       Exercise             Vesting        Number        Number
   Date         Price               Dates          Granted     Outstanding

1/6/99      $           1.00     20% each year      80,000      24,000
                                   2000-2004
1/6/99      $           1.00     Immediately     1,120,000     959,000
1/6/99      $           1.00     Immediately        60,000           -
9/1/99      $           3.50     20% each year     800,000     470,000

Total                                            2,000,000   1,554,000


                                 ALPHATRADE.COM
                        Notes to the Financial Statements
                    September 30, 2001 and December 31, 2000


NOTE 5 -      WARRANTS

     The Company had the following warrants outstanding at September 30, 2001:



                         Number of     Number of
 Grant       Exercise     Shares       Shares     Total        Expiration
 Date          Price     Granted       Exercised Remaining        Date

1/7/1999     $   0.25    1,000,000     300,000     700,000   1/7/2005
10/19/1999   $   0.25      600,000      10,000     590,000   10/19/2005
11/16/1999   $   6.25        5,000           -       5,000   11/10/2002
11/11/99     $   0.25      150,000           -     150,000   11/11/2005
4/7/2000     $   0.25        5,750       5,000         750   4/7/2005
5/1/2000     $   0.25      150,000           -     150,000   5/1/2005
7/27/2000    $   0.25    1,125,000           -   1,400,000   7/27/2005
1/3/2001     $   0.12      250,000           -     250,000   1/3/2005
4/11/2001    $   0.11    1,075,000           -   1,075,000   4/11/2006
7/15/2001    $   0.15       25,000           -


     All warrants granted through December 31, 1999 and on April 7, 2000 and May
1, 2000 were issued at prices  equal to or  exceeding  the trading  value of the
stock on the date of grant and were attached to common stock units. Accordingly,
no additional expense has been recorded.

     On November 21, 2000, the Company  amended the exercise price of all of the
warrants to better reflect the market value of the Companys common stock.
























Item 2.  Managements Discussion and Analysis or Plan of Operation.

Plan of Operation

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technology  internally in our company and have created an extensive portfolio of
versatile  applications  that we believe allow us to compete in the  marketplace
more  cost-effectively  than most of our  competition.  We also utilize external
developers  and  contractors  who  possess  specific  skills to  supplement  our
internal development efforts when management deems it cost effective.  Currently
revenues  consist  exclusively of revenues from the sale of subscriptions of our
E-Gate product and are sold and distributed by us either directly or through our
websites or our affiliate websites.  Research and development expenses relate to
the  development  of new products or the  enhancement  of existing  products and
consist  primarily  of direct and  indirect  salaries  and wages of  programming
research and development  personnel,  direct development  expenses,  and amounts
paid to outside developers.  Software development costs that are not capitalized
are  expensed as  incurred.  Technological  feasibility  is  established  by the
completion of a detailed program design,  or in its absence,  a working model of
the product.

Sales  and  marketing   expenses   consist   primarily  of  advertising,   sales
commissions,  sales and marketing  personnel costs and other costs.  General and
administration  expenses consist primarily of administrative expenses related to
finance, accounting, legal, operations, information technology, customer service
and  other  associated  costs.  We  expect  to  continue  to  incur  substantial
expenditures to develop our business in the future. We expect that our operating
results will  fluctuate as a result of a wide variety of factors,  including the
factors  described in "Risk  Factors."  This Form 10-Q contains  forward-looking
statements  that  involve  risks  and  uncertainties.   We  use  words  such  as
"anticipates,"  "believes,"  "plans,"  "expects,"  "future,"  "intends,"  "may,"
"will," "should," "estimates,"  "predicts,"  "potential," "continue" and similar
expressions to identify such forward-looking  statements.  These forward-looking
statements  include,  but are not limited  to,  statements  under  "Management's
Discussion  and  Analysis of  Financial  Condition  and Results of  Operations".
Forward-looking statements are subject to known and unknown risks, uncertainties
and other  factors  that may  cause  our  actual  results,  levels of  activity,
performance,  achievements  and prospects to be materially  different from those
expressed  or  implied  by  such   forward-looking   statements.   These  risks,
uncertainties  and other factors include,  among others,  those identified under
"Risk Factors" and elsewhere in this Form 10-Q. These forward-looking statements
apply only as of the date of this Form  10-Q.  We  undertake  no  obligation  to
publicly update or revise any forward-looking statements, whether as a result of
new  information,   future  events  or  otherwise.  In  light  of  these  risks,
uncertainties,  and assumptions,  the  forward-looking  events discussed in this
Form 10-Q might not occur. Our actual results could differ materially from those
anticipated in these forward-looking  statements for many reasons, including the
risks faced by us  described  above and  elsewhere in this Form 10-Q and readers
are cautioned not to place undue reliance on these forward  looking  statements,
which  reflect   management's   analysis  only  as  of  the  date  hereof.  Such
forward-looking  statements  include  statements  as to,  among  others:  1. our
ability  to  develop  our  products  on a global  basis;  2. the  timing  of the
introduction of our products in new markets;  3. our expectations  regarding the
number of new markets opened for fiscal 2002; 4. our expectations  regarding the
sufficiency  of any  cash  reserves  and of  future  cash  requirements;  5. our
expectations regarding cash flow from operations;  6. our expectations regarding
operating  expenses;  7. our  expectations  that as more  advanced  products are
introduced  such as  futures  and  options,  consumer  demand  for our  existing
products  may  decline;  and 8.  our  expectation  that we have  adequate  legal
defenses for legal  actions  arising out of the ordinary  course of business and
that the ultimate  outcome of these  actions will not have a material  effect on
our financial position.



                                       19
Results of Operation

Revenues:  Revenue in the third quarter was $62,736 which was an increase of 35%
over the previous  quarter.  This growth is expected to continue to expand based
on the number of new subscribers the company is getting in the early days of the
fourth  quarter.  The  Company  expects  that  revenues  will  increase  because
investors,  traders and people working in all sectors of the financial  industry
are seeking to reduce  costs and still have a stock quote  system that is suited
to their  needs.  Many of our new  customers  had been  receiving  a stock quote
system for free based on their trading patterns with certain brokerage firms but
now with the market conditions being very unstable,  they no longer receive this
free service and are seeking a cost effective alternative.  The company has also
received more customers  from people who had subscribed to competitors  that are
no longer in business  and from  competitors  who have chosen to increase  their
prices or reduce their  product line at this time.  Increasingly  we are getting
more professionals  using our system,  which the company attributes to the depth
of the  product  line,  the  flexibility  of  the  total  system  and  the  cost
effectiveness  of our E-Gate  product.  We expect  that our  existing  corporate
clients will add new  subscribers  on a regular  basis  because they are pleased
with the service and they are adding new  subscribers  regularly right now. This
will serve to increase our corporate  subscriber base. In addition,  many of the
E-Gate  subscribers are so pleased with the quality of the service for the price
point they refer the service to many  friends,  family and business  associates.
Part of our sales strategy to grow the business is to keep the cost of acquiring
new customers low. The company has  established an affiliate  marketing  program
which has been experiencing  considerable success in generating new subscribers.
This program  operates by providing  delayed data to websites,  businesses,  and
individuals  for the express  purpose of marketing our E-Gate  services to these
specific databases. There is no cost for AlphaTrade in making contact with these
databases  and  commissions  is only paid once the funds have been received from
the new subscribers.  We are just beginning to receive some  subscriptions  from
Germany  and we will be adding  real time  streaming  German  market  data as at
December 1, 2001. We expect that we will generate a fair amount of subscriptions
from Germany before the end of this fiscal year based on the general interest to
date.

Revenues were $62,736 in the third quarter of this year and $139,761 in the same
period of the prior year.  In the past year the  revenue was derived  from a few
large  customers  buying blocks of  subscriptions  for delayed market data. This
proved  to be a  limited  market  opportunity  and  therefore  we now  focus  on
generating  subscriptions  of real  time  market  data  from a wide  variety  of
sources.

Liquidity: As at September 30, 2001 Company had cash on hand of $3,653, accounts
receivable of $4,403 and prepaid  expenses of $879. The same period in the prior
year  had  larger  pre-paid  expenses  due to the  block  sales  of the  delayed
subscriptions  and we recognized that revenue as the service was used during the
entire twelve month period not just in the month the revenue was received.

During the  quarter  the Company  realized  revenues  of $62,736  with total net
comprehensive  losses to date of  $1,029,484.  On September 17, 2001 the Company
sold 1,680,000 share of common stock at $.075 per share and 1,000,000  shares of
common  stock at $.05 per share for total  proceeds  of  $125,000.  The  Company
issued 2,665,500 shares of common stock for services. The Company issued 676,250
common shares on exercise of stock options.

We estimate that existing sources of liquidity, forecasted funds from operations
and the  funds  provided  by  anticipated  capital  activity  will  satisfy  our
projected working capital requirements through the remainder of fiscal 2001. Our
ability to maintain  sufficient  liquidity  through fiscal 2002 is  particularly
dependent on us achieving our projected sales forecasts and opening new markets.
If we need to raise  additional  capital,  such  capital may not be available on
acceptable terms, if at all. Additional  financing may result in substantial and
immediate dilution to existing stockholders. If adequate funds are not available
to satisfy either short or long-term capital requirements, we may be required to
curtail our operations  significantly or to seek funds through arrangements with
strategic partners, existing investors or other parties.



                                       20


                            PART II OTHER INFORMATION

Item 1.       Legal Proceedings

     During the  quarter  the only  change in the  WebData law suit was that new
litigation counsel was retained to defend this case.

Item 2.        Changes in Securities

     During  the  quarter  ending  September  30,  2001 the  Company  issued the
following shares at the prices noted in the attached Financial Statements:

-               2,665,500 unregistered and restricted shares for service
-               676,250 on exercise of stock options;
-               2,680,000 unregistered and restricted shares issued for cash

None of the above noted shares involved a public offering.


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

                  None

              (b) Report on Form 8-K
                  None


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: November 14, 2001                  ____________________________________
                                                     By / s / Penny Perfect
                                                     President / 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:  November 14, 2001                   ____________________________________
                                                     By / s / Penny Perfect
                                                     President / Director


Date:  November 14, 2001                   ____________________________________
                                                     By / s / Gordon Muir
                                                     CEO/Director



Date: November 14, 2001                    ____________________________________
                                                     By / s / Victor Cardenas
                                                     COO/Secretary/Director


Date: November 14, 2001                    ____________________________________
                                                     By / s / Lisa McVeigh
                                                     Director


Date: November 14, 2001                    ____________________________________
                                                     By / s / Raymond Hatch
                                                     Director