UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549



FORM 10-Q/A



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



For the quarterly period ended March 31,
2020



OR



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



For the transition period from ______ to
______.



Commission File Number: 001-34858





ALTERNATIVE
INVESTMENT CORPORATION

(Exact name of registrant as specified in its
charter)



|Nevada                                                         |  | 98-0568076                       
|-------------------------------------------------------------- |  | ---------------------------------
|(State or other jurisdiction of incorporation or organization) |  | (IRS Employee Identification No.)
|                                                               |  |                                  
|150 East 52ndStreet, Suite 1102    New York, NY                |  | 10022                            
|(Address of principal executive offices)                       |  | (Zip Code)                       



(917) 480-1169

(Registrant’s telephone number,
including area code)



Indicate
by check mark 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),
and (2) has been subject to such filing requirements for the past 90 days.YesxNoo



Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted
pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such
shorter period that the registrant was required to submit and post such files).YesxNoo



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



|Large accelerated filero | Accelerated filero        
|------------------------ | --------------------------
|Non-accelerated filero   | Smaller reporting companyx
|                         | Emerging growth companyo  



Indicate by check mark whether the registrant is a shell company
as defined in Rule 12b-2 of the Exchange Act. Yes  x  No  o



As of August 19, 2020, the registrant had 431,991
shares of its Common Stock, $0.001 par value, outstanding.



|Title of each class                      |  | Trading Symbol |  | Name of each exchange on which registered
|---------------------------------------- |  | -------------- |  | -----------------------------------------
|Common Stock, par value $0.001 per share |  | AIKO           |  | OTC Pink                                 









SPECIAL NOTE CONCERNING FORWARD-LOOKING STATEMENTS



Certain statements made in this Form 10-Q
are "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995) regarding
the plans and objectives of management for future operations. Such statements involve known and unknown risks, uncertainties and
other factors that may cause actual results, performance or achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements included
herein are based on current expectations that involve numerous risks and uncertainties. The Company's plans and objectives are
based, in part, on assumptions involving the continued expansion of business. Assumptions relating to the foregoing involve judgments
with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which
are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Although the Company
believes its assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate
and, therefore, there can be no assurance the forward-looking statements included in this report will prove to be accurate. In
light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information
should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will
be achieved.



The forward-looking statements included
in this Form 10-Q and referred to elsewhere are related to future events or our strategies or future financial performance. In
some cases, you can identify forward-looking statements by terminology such as "may," "should," "believe,"
"anticipate," "future," "potential," "estimate," "encourage," "opportunity,"
"growth," "leader," "expect," "intend," "plan," "expand," "focus,"
"through," "strategy," "provide," "offer," "allow," commitment," "implement,"
"result," "increase," "establish," "perform," "make," "continue," "can,"
"ongoing," "include" or the negative of such terms or comparable terminology. All forward-looking statements
included in this Form 10-Q are based on information available to us as of the filing date of this report, and the Company assumes
no obligation to update any such forward-looking statements, except as required by law. Our actual results could differ materially
from the forward-looking statements.



Important factors that might cause our actual
results to differ materially from the results contemplated by the forward-looking statements are contained in the “Risk Factors”
section of and elsewhere in our Annual Report on Form 10-K for the fiscal year ended September 30, 2019 and in our subsequent filings
with the Securities and Exchange Commission



The following Management’s Discussion
and Analysis of Financial Condition and Results of Operations describes the principal factors affecting the results of operations,
liquidity and capital resources of the Company and critical accounting estimates. This discussion should be read in conjunction
with the accompanying quarterly unaudited Condensed Financial Statements contained in this Form 10-Q and our Annual Report on Form
10-K, for the year ended September 30, 2019 (“Annual Report”). Our Annual Report includes additional information about
our significant accounting policies, practices and the transactions that underlie our financial results, as well as a detailed
discussion of the most significant risks and uncertainties associated with our financial and operating results.



EXPLANATORY
NOTE



Reason
for this Amendment



This
Amendment No. 1 on Form 10-Q/A (the “Amendment”) amends the Quarterly Report on Form 10-Q for the three months ended
March 31, 2020 (the “Quarterly Report”) of Alternative Investment Corporation (the “Company”), as originally
filed (the “Original Filing”) with the U.S. Securities and Exchange Commission (the “SEC”) on July 6, 2020
to add the following disclosure regarding reliance by the Company on the SEC Order issued March 25, 2020 pursuant to Section 36
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), granting exemptions from specified provisions
of the Exchange Act and certain rules thereunder (Release No. 34-88465) (the “Order”).



This
Amendment is being filed to include the disclosure below in accordance with the Order, which was inadvertently omitted from the
Original Filing.





2





Reliance
on SEC Relief from Filing Requirements



The
Company filed the Original Filing in reliance on the Order, permitting the delay in filing due to circumstances related to COVID-19.
The Company filed, on May 14, 2020, a Current Report on Form 8-K (the “Form 8-K”) indicating its intention to rely
on the Order. As stated in the Form 8-K,there has been a very real and tangible impact
on the Company’s ability to file on time. The Company’s office remains effectively closed and inaccessible due to New
York Governor Andrew Cuomo’s “New York on PAUSE” executive order (“Government Emergency Order”),
making use of the office as intended impossible as of March 22, 2020. The Company has been unable to maintain up to date banking,
bookkeeping and accounting operations. As a result, the Company was unable to gather all of the documents
it requires to timely file the Quarterly Report in an appropriate fashion which will adequately and accurately present the Company’s
financial position in a way protective of its shareholders and investors.



In
accordance with Rules 12b-15 and 13a-14 under the Exchange Act, the Company has also amended Part IV, Item 15 to include currently
dated certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 from the Company’s principal executive officer
and principal financial officer. Because no financial statements have been included in this Amendment, and this Amendment does
not contain or amend any disclosure with respect to Items 307 and 308 of Regulation S-K, paragraphs 3, 4 and 5 of the certifications
have been omitted. Similarly, because no financial statements have been included in this Amendment, certifications pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002 have been omitted.



Except
as described above, this Amendment does not amend, modify or update the information in, or exhibits to, the Original Filing, and
we have not updated disclosures included therein to reflect any subsequent developments or events. This Amendment should be read
in conjunction with the Original Filing and with our other filings made with the SEC subsequent to the filing of the Original Filing.





PART II - OTHER INFORMATION





Item 6.  Exhibits



|Exhibit 31.1 | Certification by the Principal Executive Officer of Registrant pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Rule 13a-14(a) or Rule 15d-14(a)).
|------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------
|Exhibit 31.2 | Certification by the Principal Financial Officer of Registrant pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Rule 13a-14(a) or Rule 15d-14(a)).





SIGNATURES



Pursuant to the requirements of Section 13 or 15(d) 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.



|Date: August 24, 2020 | By: | /s/ Antonio Treminio                                                                                       
|--------------------- | --- | -----------------------------------------------------------------------------------------------------------
|                      |     | Antonio Treminio                                                                                           
|                      |     | Chief Executive Officer
        Chief Financial Officer
        (Principal Executive and Financial Officer)







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