| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

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

| AMERICA’S SUPPLIERS, INC.                        |
|--------------------------------------------------------|
| (Exact name of registrant as specified in its charter) |

| Delaware                                                      | 27-1445090                           |
|---------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporationor organization) | (I.R.S. Employer Identification No.) |
|                                                          |                                 |
| 7575 E. Redfield RoadSuite 201Scottsdale, AZ                  | 85260                                |
| (Address of principal executive offices)                      | (Zip Code)                           |

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| Large accelerated filer  ̈ | Accelerated filer  ̈               |
|--------------------------------|----------------------------------------|
| Non-accelerated filer  ̈   | Smaller reporting company  x |

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|                                                                                               |   | Page   |
|----------------------------------------------------------------------------------------------------|--------|--------|
|                                                                                               |   |   |
| PART I – FINANCIAL INFORMATION                                                               |   | 1      |
| Item 1. Financial Statements:                                                                      |   | 2      |
| Consolidated Balance Sheets (unaudited)                                                            |   | 2      |
| Consolidated Statements of Operations (unaudited)                                                  |   | 3      |
| Consolidated Statements of Cash Flows (unaudited)                                                  |   | 4      |
| Notes to Consolidated Financial Statements (unaudited)                                             |   | 5      |
| Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations |   | 10     |
| Item 3. Quantitative and Qualitative Disclosure About Market Risk                                  |   | 13     |
| Item 4. Controls and Procedures                                                                    |   | 13     |
| PART II – OTHER INFORMATION                                                                  |   | 14     |
| Item 1. Legal Proceedings                                                                          |   | 14     |
| Item 1A. Risk Factors                                                                              |   | 14     |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                |   | 14     |
| Item 3. Defaults Upon Senior Securities                                                            |   | 14     |
| Item 4. (Removed and Reserved)                                                                     |   | 14     |
| Item 5. Other Information                                                                          |   | 14     |
| Item 6. Exhibits                                                                                   |   | 15     |
| SIGNATURES                                                                                         |   | 16     |

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|                                                                                                                                                                                        |   | March 31,   |       |   | December 31, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|------------|--------|-------------------|--------|
|                                                                                                                                                                                        |   | 2011        |       |   | 2010              |   |
|                                                                                                                                                                                        |   | (unaudited) |       |   |              |   |
| Assets                                                                                                                                                                                      |   |
|                                                                                                                                                                                        |   |        |       |   |              |   |
| Cash and cash equivalents                                                                                                                                                                   |   | $           | 571,068    |   |              | $      | 397,209 |   |
| Certificates of deposit                                                                                                                                                                     |   |        | 400,000    |   |              |   | 900,000 |   |
| Accounts receivable, net                                                                                                                                                                    |   |        | 148,004    |   |              |   | 85,479 |   |
| Inventory                                                                                                                                                                                   |   |        | 1,118      |   |              |   | 1,318 |   |
| Prepaid expenses and other current assets                                                                                                                                                   |   |        | 74,693     |   |              |   | 71,273 |   |
| Total current assets                                                                                                                                                                        |   |        | 1,194,883  |   |              |   | 1,455,279 |   |
| Property and equipment, net                                                                                                                                                                 |   |        | 341,801    |   |              |   | 355,760 |   |
| Deferred financing costs                                                                                                                                                                    |   |        | -          |   |              |   | 40,000 |   |
| Deposits and other assets                                                                                                                                                                   |   |        | 98,025     |   |              |   | 57,264 |   |
| Total assets                                                                                                                                                                                |   | $           | 1,634,709  |   |              | $      | 1,908,303 |   |
|                                                                                                                                                                                        |   |        |       |   |              |   |   |   |
| Liabilities and Shareholders' Deficit                                                                                                                                                       |   |
|                                                                                                                                                                                        |   |        |       |   |              |   |   |   |
| Accounts payable                                                                                                                                                                            |   | $           | 1,485,623  |   |              | $      | 1,540,510 |   |
| Accrued expenses                                                                                                                                                                            |   |        | 399,330    |   |              |   | 504,902 |   |
| Deferred revenue                                                                                                                                                                            |   |        | -          |   |              |   | 8,569 |   |
| Other liabilities                                                                                                                                                                           |   |        | 4,342      |   |              |   | 4,487 |   |
| Total current liabilities                                                                                                                                                                   |   |        | 1,889,295  |   |              |   | 2,058,468 |   |
|                                                                                                                                                                                        |   |        |       |   |              |   |   |   |
| ASI shareholders' deficit:                                                                                                                                                                  |   |        |       |   |              |   |   |   |
| Preferred shares, $0.001 par value, 1,000,000 shares authorized, no shares outstanding at December 31, authorized, no shares outstanding at December 31, 2010 and 2009                      |   |        | -          |   |              |   | - |   |
| Common stock, $0.001 par value, 50,000,000 shares authorized, authorized, 12,925,348 shares outstanding at 14,255,857 shares issued and outstanding at March 31, 2011 and December 31, 2010 |   |        | 14,256     |   |              |   | 14,256 |   |
| Additional paid in capital                                                                                                                                                                  |   |        | 6,573,329  |   |              |   | 6,550,963 |   |
| Accumulated deficit                                                                                                                                                                         |   |        | (6,842,171 | )      |              |   | (6,715,384 | ) |
| Total shareholders' deficit                                                                                                                                                                 |   |        | (254,586   | )      |              |   | (150,165 | ) |
|                                                                                                                                                                                        |   |        |       |   |              |   |   |   |
| Total liabilities and shareholders' deficit                                                                                                                                                 |   | $           | 1,634,709  |   |              | $      | 1,908,303 |   |

----

|                                                              |   | Three Months Ended March 31, |       |
|-------------------------------------------------------------------|--------|------------------------------|------------|
|                                                              |   | 2011                         |       |   | 2010 |   |
|                                                              |   |                         |       |   |   |   |
| Net revenues                                                      |   | $                            | 3,293,427  |   |   | $ | 3,199,464 |   |
| Advertising revenue                                               |   |                         | 61,524     |   |   |   | 42,088 |   |
| Cost of goods sold                                                |   |                         | 2,195,198  |   |   |   | 2,149,600 |   |
| Gross profit                                                      |   |                         | 1,159,753  |   |   |   | 1,091,952 |   |
| Operating expenses:                                               |   |                         |       |   |   |   |   |   |
| Sales and marketing                                               |   |                         | 717,495    |   |   |   | 609,043 |   |
| General and administrative                                        |   |                         | 570,628    |   |   |   | 458,343 |   |
|                                                              |   |                         |       |   |   |   |   |   |
| Total operating expenses                                          |   |                         | 1,288,123  |   |   |   | 1,067,386 |   |
|                                                              |   |                         |       |   |   |   |   |   |
| Operating income (loss):                                          |   |                         | (128,370   | ) |   |   | 24,566 |   |
| Other income (expense):                                           |   |                         |       |   |   |   |   |   |
| Loss from equity investment                                       |   |                         | -          |   |   |   | (7,459 | ) |
| Other income (expense)                                            |   |                         | 1,583      |   |   |   | 1,353 |   |
|                                                              |   |                         |       |   |   |   |   |   |
| Total other expense                                               |   |                         | 1,583      |   |   |   | (6,106 | ) |
|                                                              |   |                         |       |   |   |   |   |   |
| Net income (loss)                                                 |   |                         | (126,787   | ) |   |   | 18,460 |   |
| Less:  net loss attributable to noncontrolling interest |   |                         | -          |   |   |   | (3,791 | ) |
|                                                              |   |                         |       |   |   |   |   |   |
| Net income (loss) attributable to America's Suppliers, Inc.       |   | $                            | (126,787   | ) |   | $ | 22,251 |   |
|                                                              |   |                         |       |   |   |   |   |   |
| Net income (loss) per share:                                      |   |                         |       |   |   |   |   |   |
| Basic                                                             |   | $                            | (0.01      | ) |   | $ | - |   |
| Diluted                                                           |   | $                            | (0.01      | ) |   | $ | - |   |
|                                                              |   |                         |       |   |   |   |   |   |
| Weighted average common shares outstanding                        |   |                         |       |   |   |   |   |   |
| Basic                                                             |   |                         | 13,075,348 |   |   |   | 12,925,348 |   |
| Diluted                                                           |   |                         | 13,075,348 |   |   |   | 12,925,348 |   |

----

|                                                                        |   | Three Months Ended March 31, |     |
|-----------------------------------------------------------------------------|--------|------------------------------|----------|
|                                                                        |   | 2011                         |     |   | 2010 |   |
| Cash flows from operating activities:                                       |   |                         |     |   |   |   |
|                                                                        |   |                         |     |   |   |   |
| Net income (loss)                                                           |   | $                            | (126,787 | ) |   | $ | 22,251 |   |
| Adjustments to reconcile net loss to net cash used in operating activities: |   |                         |     |   |   |   |   |   |
| Loss from equity investment                                                 |   |                         | -        |   |   |   | 7,459 |   |
| Loss attributable to noncontrolling interest                                |   |                         | -        |   |   |   | (3,791 | ) |
| Depreciation and amortization                                               |   |                         | 21,746   |   |   |   | 18,941 |   |
| Bad debt expense                                                            |   |                         | 7,319    |   |   |   | 16 |   |
| Stock-based compensation                                                    |   |                         | 22,366   |   |   |   | 2,828 |   |
| Write-off of deferred financing costs                                       |   |                         | 40,000   |   |   |   | - |   |
| Changes in assets and liabilities:                                          |   |                         |     |   |   |   |   |   |
| Accounts receivable                                                         |   |                         | (69,844  | ) |   |   | (56,921 | ) |
| Inventory                                                                   |   |                         | 200      |   |   |   | - |   |
| Prepaid and other current assets                                            |   |                         | (3,420   | ) |   |   | 15,006 |   |
| Deposits and other assets                                                   |   |                         | (10,761  | ) |   |   | (3 | ) |
| Accounts payable                                                            |   |                         | (54,887  | ) |   |   | 30,052 |   |
| Accrued expenses                                                            |   |                         | (105,572 | ) |   |   | (124,315 | ) |
| Deferred revenue                                                            |   |                         | (8,569   | ) |   |   | (5,411 | ) |
| Other liabilities                                                           |   |                         | (145     | ) |   |   | (349 | ) |
| Net cash used in operating activities                                       |   |                         | (288,354 | ) |   |   | (94,237 | ) |
|                                                                        |   |                         |     |   |   |   |   |   |
| Cash flows from investing activities:                                       |   |                         |     |   |   |   |   |   |
| Maturities of certificates of deposit                                       |   |                         | 500,000  |   |   |   | 285,000 |   |
| Investment in Business Calcium                                              |   |                         | -        |   |   |   | (67,817 | ) |
| Loans to Business Calcium                                                   |   |                         | (30,000  | ) |   |   | - |   |
| Purchases of property and equipment                                         |   |                         | (7,787   | ) |   |   | (50,521 | ) |
| Net cash provided by investing activities                                   |   |                         | 462,213  |   |   |   | 166,662 |   |
|                                                                        |   |                         |     |   |   |   |   |   |
| Change in cash and cash equivalents                                         |   |                         | 173,859  |   |   |   | 72,425 |   |
|                                                                        |   |                         |     |   |   |   |   |   |
| Cash and cash equivalents, beginning of period                              |   |                         | 397,209  |   |   |   | 78,095 |   |
|                                                                        |   |                         |     |   |   |   |   |   |
| Cash and cash equivalents, end of period                                    |   | $                            | 571,068  |   |   | $ | 150,520 |   |
|                                                                        |   |                         |     |   |   |   |   |   |
| Supplemental cash flow disclosures:                                         |   |                         |     |   |   |   |   |   |
| Cash paid for interest                                                      |   | $                            | -        |   |   | $ | - |   |

----

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|   | · | 20% vest immediately; |
|--------|--------|-----------------------|

|   | · | 20% of shares granted vest on or after February 25, 2010 if price per share equals or exceeds $0.60 and trading volume is at least 5,000 shares per day for 25 of 30 consecutive days in a trading period; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | 30% of shares granted vest on or after February 25, 2011 if price per share equals or exceeds $1.00 and trading volume is at least 5,000 shares per day for 25 of 30 consecutive days in a trading period; and |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | 30% of shares granted vest on or after February 25, 2012 if price per share equals or exceeds $1.50 and trading volume is at least 5,000 shares per day for 25 of 30 consecutive days in a trading period. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                             |   | Number ofUnits |      |   | Weighted-AverageExercise Price |   |   | Weighted-AverageRemainingContractual Term(in years) |   |
|----------------------------------|--------|----------------|-----------|--------|-------------------------------------|--------|--------|----------------------------------------------------------|--------|
|                             |   |           |      |   |                                |   |   |                                                     |   |
| Outstanding at December 31, 2010 |   |           | 886,176   |   |                                | $      | 1.03   |                                                     |   |   | 3.1 |   |
| Grants                           |   |           | 180,000   |   |                                |   | 0.20   |                                                     |   |   |   |   |
| Forfeitures                      |   |           | (31,226   | )      |                                |   | 3.19   |                                                     |   |   |   |   |
| Exercises                        |   |           | -         |   |                                |   | -      |                                                     |   |   |   |   |
| Outstanding at March 31, 2011    |   |           | 1,034,950 |   |                                | $      | 0.82   |                                                     |   |   | 3.3 |   |
|                             |   |           |      |   |                                |   |   |                                                     |   |   |   |   |
| Exerciseable at March 31, 2011   |   |           | 666,881   |   |                                | $      | 1.16   |                                                     |   |   | 2.7 |   |

| Exercise Price |   | Number ofShares |      |
|---------------------|--------|-----------------|-----------|
|                |   |            |      |
| $0.01 - $0.89       |   |            | 640,086   |   |
| $0.90 - $2.00       |   |            | 385,071   |   |
| $2.01 - $4.00       |   |            | 7,193     |   |
| $4.01 - $7.00       |   |            | -         |   |
| $7.01 - $10.00      |   |            | 1,000     |   |
| $10.01 +            |   |            | 1,600     |   |
|                |   |            | 1,034,950 |   |

|                             |   | Number ofUnits |      |   | Weighted-AverageExercise Price |   |   | Weighted-AverageRemainingContractual Term(in years) |   |   | Intrinsicvalue |   |
|----------------------------------|--------|----------------|-----------|--------|-------------------------------------|--------|--------|----------------------------------------------------------|--------|--------|----------------|--------|
|                             |   |           |      |   |                                |   |   |                                                     |   |   |           |   |
| Outstanding at December 31, 2010 |   |           | 1,572,628 |   |                                | $      | 0.44   |                                                     |   |   | 2.9            |   |   | $ | 68,412 |   |
| Grants                           |   |           | -         |   |                                |   | -      |                                                     |   |   |           |   |   |   |   |   |
| Forfeitures                      |   |           | -         |   |                                |   | -      |                                                     |   |   |           |   |   |   |   |   |
| Exercises                        |   |           | -         |   |                                |   | -      |                                                     |   |   |           |   |   |   |   |   |
| Outstanding at March 31, 2011    |   |           | 1,572,628 |   |                                | $      | 0.44   |                                                     |   |   | 2.7            |   |   | $ | 97,066 |   |
|                             |   |           |      |   |                                |   |   |                                                     |   |   |           |   |   |   |   |   |
| Exerciseable at March 31, 2011   |   |           | 1,572,628 |   |                                | $      | 0.44   |                                                     |   |   | 2.7            |   |   | $ | 97,066 |   |

----

| Exercise Price |   | Number ofShares |      |
|---------------------|--------|-----------------|-----------|
|                |   |            |      |
| $0.10               |   |            | 855,145   |   |
| $0.20               |   |            | 300,000   |   |
| $1.20 - $1.30       |   |            | 417,483   |   |
|                |   |            | 1,572,628 |   |

|                                                  |   | Three Months Ended March 31, |       |
|-------------------------------------------------------|--------|--------------------------------------------------|------------|
|                                                  |   | 2011                                             |       |   | 2010 |   |
|                                                  |   |                                             |       |   |   |   |
| Net income (loss) attributable to America's Suppliers |   | $                                                | (126,787   | ) |   | $ | 22,251 |   |
|                                                  |   |                                             |       |   |   |   |   |   |
| Basic weighted average common shares outstanding      |   |                                             | 13,075,348 |   |   |   | 12,925,348 |   |
| Add incremental shares for:                           |   |                                             |       |   |   |   |   |   |
| Stock options                                         |   |                                             | -          |   |   |   | - |   |
| Warrants                                              |   |                                             | -          |   |   |   | - |   |
| Diluted weighted average common shares outstanding    |   |                                             | 13,075,348 |   |   |   | 12,925,348 |   |
|                                                  |   |                                             |       |   |   |   |   |   |
| Net income (loss) per share:                          |   |                                             |       |   |   |   |   |   |
| Basic                                                 |   | $                                                | (0.01      | ) |   | $ | - |   |
| Diluted                                               |   | $                                                | (0.01      | ) |   | $ | - |   |

|          |   | Three Months Ended March 31, |      |
|---------------|--------|--------------------------------------------------|-----------|
|          |   | 2011                                             |      |   | 2010 |   |
|          |   |                                             |      |   |   |   |
| Stock options |   |                                             | 1,034,950 |   |   |   | 523,505 |   |
| Warrants      |   |                                             | 1,572,628 |   |   |   | 1,574,865 |   |

----

----

----

| Net Revenues            |   | 2011 |      |   | 2010   |   |      | Change fromPrior Year |   |   | Percent Change from Prior Year |   |
|------------------------------|--------|------|-----------|--------|--------|--------|-----------|---------------------------------|--------|--------|----------------------------------------------------|--------|
| Three months ended March 31, |   | $    | 3,293,427 |   |   | $      | 3,199,464 |                            |   | $      | 93,963                                             |   |   |   | 2.9 | % |

| Advertising Revenue     |   | 2011 |   |   | 2010   |   |   | Change fromPrior Year |   |   | Percent Change from Prior Year |   |
|------------------------------|--------|------|--------|--------|--------|--------|--------|---------------------------------|--------|--------|----------------------------------------------------|--------|
| Three months ended March 31, |   | $    | 61,524 |   |   | $      | 42,088 |                            |   | $      | 19,436                                             |   |   |   | 46.2 | % |

| Cost of Goods Sold |   | 2011 |      |   | 2010   |   |      | Change fromPrior Year |   |   | Percent Change from Prior Year |   |
|-----------------------------------|--------|------|-----------|--------|--------|--------|-----------|---------------------------------|--------|--------|----------------------------------------------------|--------|
| Three months ended March 31,      |   | $    | 2,195,198 |   |   | $      | 2,149,600 |                            |   | $      | 45,598                                             |   |   |   | 2.1 | % |

| Sales and Marketing |   | 2011 |    |   | 2010   |   |    | Change fromPrior Year |   |   | Percent Change from Prior Year |   |
|-------------------------------|--------|------|---------|--------|--------|--------|---------|---------------------------------|--------|--------|----------------------------------------------------|--------|
| Three months ended March 31,  |   | $    | 717,495 |   |   | $      | 609,043 |                            |   | $      | 108,452                                            |   |   |   | 17.8 | % |

----

| General and Administrative |   | 2011 |    |   | 2010   |   |    | Change fromPrior Year |   |   | Percent Change from Prior Year |   |
|--------------------------------------|--------|------|---------|--------|--------|--------|---------|---------------------------------|--------|--------|----------------------------------------------------|--------|
| Three months ended March 31,         |   | $    | 570,628 |   |   | $      | 458,343 |                            |   | $      | 112,285                                            |   |   |   | 24.5 | % |

| Other Expense           |   | 2011 |   |   | 2010   |   |   | Change fromPrior Year |   |   | Percent Change from Prior Year |   |
|------------------------------|--------|------|--------|--------|--------|--------|--------|---------------------------------|--------|--------|----------------------------------------------------|--------|
| Three months ended March 31, |   | $    | 1,583  |   |   | $      | (6,106 | )                               |   | $      | 7,689                                              |   |   |   | 125.9 | % |

| Net Income (Loss)  |   | 2011 |     |   | 2010   |   |   | Change fromPrior Year |   |   | Percent Change from Prior Year |   |
|------------------------------|--------|------|----------|--------|--------|--------|--------|---------------------------------|--------|--------|----------------------------------------------------|--------|
| Three months ended March 31, |   | $    | (126,787 | )      |   | $      | 22,251 |                            |   | $      | (149,038                                           | )      |   |   | (669.8 | )% |

----

----

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| ExhibitNumber |   | Description                                                                                                             |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------|
|          |   |                                                                                                                    |
| 31.1          |   | Certification of Principal Executive Officer Pursuant to Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934 |
|          |   |                                                                                                                    |
| 31.2          |   | Certification of Principal Financial Officer Pursuant to Rules 13a-14 and 15d-14 of the Securities Exchange Act of 1934 |
|          |   |                                                                                                                    |
| 32.1          |   | Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002  |
|          |   |                                                                                                                    |
| 32.2          |   | Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002  |

----

| AMERICA’S SUPPLIERS, INC. |
|---------------------------------|
|                            |   |
| By:                             | /s/  Marc Joseph |
|                            | Marc Joseph |
|                            | President |
|                            | (Principal Executive Officer) |
|                            |   |
| By:                             | /s/   Michael Moore |
|                            | Michael Moore |
|                            |  Treasurer and Secretary |
|                            |  (Principal Financial Officer) |

----