U.S.
SECURITIES AND EXCHANGE COMMISSION
 Washington,
D.C. 20549
 FORM
10-Q
 
 [x]
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
OF 1934
 
 For the
quarterly period ended: June
30, 2010
 
 [ ]
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 000-53139
  TRYON ALPHA,
INC.
 (Exact
name of registrant as specified in its charter)
  
 Nevada
                (State
      or other jurisdiction of incorporation or organization)
              26-1530805
                (I.R.S.
      Employer Identification No.)
 
 127 North Tryon Street,
Suite 312, Charlotte, North Carolina 28202
 (Address
of principal executive offices)
 
 (704)
372-7222
 Issuer’s
telephone number
  (Former
name, former address and former
 fiscal
year, if changed since last report)
 
 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. ý  Yes     No
 
 Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Web site, if any, 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).
  Yes   No
 
 Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act.
 
 Large
      accelerated filer   □
              Accelerated
      filer     □Non-accelerated
      filer     □  (Do not check if a smaller
      reporting company)
              Smaller
      reporting company     ý
 
 Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). ýYes No
 
 APPLICABLE
ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
 PROCEEDINGS
DURING THE PRECEDING FIVE YEARS
 
 Indicate
by check mark whether the registrant has filed all documents and reports
required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act
of 1934 subsequent to the distribution of securities under a plan confirmed by a
court.
 
Yes    No
 APPLICABLE
ONLY TO CORPORATE ISSUERS
 
 State the
number of shares outstanding of each of the issuer's classes of common equity,
as of the latest practicable date:  At August 20, 2010 there were
1,000,000 shares of common stock outstanding.
 
 1
 
 
 PART
I — FINANCIAL INFORMATION
 
 Item
1. Financial Statements.
 
 PageBalance
      Sheet – At June 30, 2010 (unaudited) and March 31, 2009
      (audited)
              
              
              F-3Statement
      of Operations for the three months ended June 30, 2010 and 2009
      (unaudited)
              
              
              F-4Statement
      of Stockholders Deficit
              
              
              F-5Statement
      of Cash Flows for the three months ended June 30, 2010 and 2009
      (unaudited)and
      for the period December 3, 2007 (inception) through June 30,
      2010
              
              
              F-6Notes
      to Financial Statements (unaudited)
              
              
              F-7
  2
  Tryon Alpha,
  Inc.(A
      Development Stage Company)Balance
      SheetAs
      of
                
                
                As
      ofJune
      30, 2010
                
                
                March
      31, 2009(unaudited)
                
                
                (audited)ASSETSCURRENT ASSETS:Cash
                
                $
                59
                
                
                $
                -TOTAL
      CURRENT ASSETS
                
                
                59
                
                
                
                -TOTAL
      ASSETS
                
                $
                59
                
                
                $
                -LIABILITIES
      AND STOCKHOLDERS' DEFICITCURRENT LIABILITIES:Note
      Payable to a Related Party
                
                
                18,279
                
                
                
                15,455Bank
      Overdraft
                
                
                -
                
                
                
                2Accrued
      Expenses
                
                
                5,248
                
                
                
                5,935TOTAL
      CURRENT LIABILITIES
                
                
                23,527
                
                
                
                21,392TOTAL
      LIABILITIES
                
                
                23,527
                
                
                
                21,392STOCKHOLDERS' DEFICITPreferred
      stock ($0.0001 par value; 10,000,000 shares authorized; no
      sharesissued
      and outstanding)
                
                
                -
                
                
                
                -Common
      stock ($0.0001 par value; 100,000,000 shares authorized:1,000,000
      issued and outstanding)
                
                
                100
                
                
                
                100Paid
      in Capital
                
                
                -
                
                
                
                -Retained
      Deficit
                
                
                (23,568
                )
                
                
                (21,492
                )TOTAL
      STOCKHOLDERS' DEFICIT
                
                
                (23,468
                )
                
                
                (21,392
                )TOTAL
      LIABILITIES AND STOCKHOLDERS' DEFICIT
                
                $
                59
                
                
                $
                -
 
 The
accompanying notes are an integral part of these financial
statements.
 
 3
  Tryon
      Alpha, Inc.(A
      Development Stage Company)Statement
      of OperationsCumulativeFor
      the three months ended
                
                
                Total
      Since InceptionJune
      30, 2010
                
                
                June
      30, 2009
                
                
                December 3, 2007REVENUES:Income
                
                $
                -
                
                
                $
                -
                
                
                $
                -Total
      Revenue
                
                
                -
                
                
                
                -
                
                
                
                -EXPENSES:Selling,
      General and Administrative
                
                
                1,563
                
                
                
                640
                
                
                
                3,308Professional
      Fees
                
                
                -
                
                
                
                -
                
                
                
                18,000Total
      Expenses
                
                
                1,563
                
                
                
                640
                
                
                
                21,308Loss
      from operations
                
                $
                (1,563
                )
                
                $
                (640
                )
                
                $
                (21,308
                )OTHER INCOME/(EXPENSE):Interest
      Expense
                
                
                (513
                )
                
                
                (71
                )
                
                
                (2,260
                )NET
      LOSS
                
                $
                (2,076
                )
                
                $
                (711
                )
                
                $
                (23,568
                )Basic
      and fully diluted net loss per common share:
                
                $
                (0.00
                )
                
                $
                (0.00
                )
                
                $
                (0.02
                )Weighted
      average common shares outstanding
                
                
                1,000,000
                
                
                
                1,000,000
                
                
                
                1,000,000
  The
accompanying notes are an integral part of these financial
statements.
 
 4
  Tryon Alpha,
  Inc.(A
      Development Stage Company)Statement
      of Stockholders' DeficitAdditionalCommon
      Stock
                
                
                Preferred
      stock
                
                
                Paid-in
                
                
                DeficitShares
                
                
                Amount
                
                
                Shares
                
                
                Amount
                
                
                Capital
                
                
                AccumulatedBalances,
      December 3, 2007 (inception)
                
                
                -
                
                
                $
                -
                
                
                
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                -Net
      loss
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (9,342
                )Issuance
      of common shares
                
                
                1,000,000
                
                
                
                100
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -Balances,
      March 31, 2008
                
                
                1,000,000
                
                
                $
                100
                
                
                
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                (9,342
                )Net
      loss
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (5,864
                )Balances,
      March 31, 2009
                
                
                1,000,000
                
                
                $
                100
                
                
                
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                (15,206
                )Net
      loss
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (6,286
                )Issuance
      of common shares
                
                
                1,000,000
                
                
                
                100
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -Balances,
      March 31, 2010
                
                
                2,000,000
                
                
                $
                200
                
                
                
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                (21,492
                )Net
      loss
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                (2,076
                )Balances,
      June 30, 2010
                
                
                2,000,000
                
                
                $
                200
                
                
                
                -
                
                
                $
                -
                
                
                $
                -
                
                
                $
                (23,568
                )
  The
accompanying notes are an integral part of these financial
statements.
 
 5
 
 Tryon Alpha,
  Inc.(A
      Development Stage Company)Statement
      of Cash FlowsCumulativeFor
      the three months ended
                
                
                Totals
      SinceJune 30,
                
                
                Inception2010
                
                
                2009
                
                
                December 3, 2007CASH FLOWS FROM OPERATING
      ACTIVITIES:Net
      loss
                
                $
                (2,076
                )
                
                $
                (711
                )
                
                $
                (23,568
                )Adjustments
      to reconcile net (loss) to net cash used in operations:Changes
      in Assets and Liabilities:Increase/(decrease)
      in Overdraft
                
                
                (2
                )
                
                
                18
                
                
                
                -Increase/(decrease)
      in Accrued Expenses
                
                
                (687
                )
                
                
                (2,929
                )
                
                
                5,248NET
      CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
                
                
                (2,765
                )
                
                
                (3,622
                )
                
                
                (18,320
                )CASH FLOWS FROM FINANCING
      ACTIVITIES:Issuance
      of Common Stock
                
                
                -
                
                
                
                -
                
                
                
                100Note
      Payable to Related Party
                
                
                2,824
                
                
                
                3,603
                
                
                
                18,279NET
      CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES
                
                
                2,824
                
                
                
                3,603
                
                
                
                18,379NET
      INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
                
                
                59
                
                
                
                (19
                )
                
                
                59BEGINNING
      BALANCE
                
                
                -
                
                
                
                19
                
                
                
                -ENDING
      BALANCE
                
                $
                59
                
                
                $
                -
                
                
                $
                59SUPPLEMENTAL
      DISCLOSURES OF CASH FLOW INFORMATION:CASH
      PAID DURING THE PERIOD FOR:Interest
                
                $
                -
                
                
                $
                -
                
                
                $
                -Taxes
                
                $
                -
                
                
                $
                -
                
                
                $
                -
  6
  The
accompanying notes are an integral part of these financial
statements.
  NOTE A—BUSINESS
ACTIVITY
 
 The Tryon
Alpha, Inc., Inc. (“The Company”) was organized under the laws of the State of
Nevada on December 3, 2007 as a corporation.  The Company’s objective
is to acquire or merge with a target business or company in a business
combination.
 
 NOTE B—GOING
CONCERN
 
 The
accompanying financial statements have been prepared on a going concern basis,
which assumes the Company will realize its assets and discharge its liabilities
in the normal course of business.  As reflected in the accompanying
financial statements, the Company has a deficit accumulated during the
development stage of $23,568, used cash from operations of $18,320 since its
inception, and has a negative working capital of $23,468 at June 30,
2010.
 
 The
Company’s ability to continue as a going concern is dependent upon its ability
to generate future profitable operations and/or to obtain the necessary
financing to meet its obligations and repay its liabilities arising from normal
business operations when they come due.  The Company’s ability to
continue as a going concern is also dependent on its ability to find a suitable
target company and enter into a possible reverse merger with such
company.  Management’s plan includes obtaining additional funds by
equity financing through a reverse merger transaction and/or related party
advances; however there is no assurance of additional funding being
available.  These circumstances raise substantial doubt about the
Company’s ability to continue as a going concern. The accompanying financial
statements do not include any adjustments that might arise as a result of this
uncertainty.
 
 NOTE C—SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES
 
 Basis of
Presentation- The financial statements included herein were prepared
under the accrual basis of accounting.
 
 Cash and Cash
Equivalents- For purposes of the Statement of Cash Flows, the Company
considers liquid investments with an original maturity of three months or less
to be cash equivalents.
 
 Management’s Use of
Estimates- The preparation of financial statements in conformity with
accounting principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosures of contingent assets and
liabilities at the date of financial statements and the reported amounts of
revenue and expenses during the reporting period. Actual results could differ
from those estimates. The financial statements above reflect all of the costs of
doing business.
 
 Revenue Recognition-
The Company applies paragraph 605-10-S99-1 of the FASB Accounting Standards
Codification for revenue recognition.  The Company recognizes revenue
when it is realized or realizable and earned less estimated future doubtful
accounts.  The Company considers revenue realized or realizable and
earned when all of the following criteria are met:
 
 (i)
                persuasive
      evidence of an arrangement exists,
 (ii)
                the
      services have been rendered and all required milestones
      achieved,
 (iii)
                the
      sales price is fixed or determinable,
and
 (iv)
                collectability
      is reasonably assured.
  Comprehensive Income (Loss)
- The Company reports Comprehensive income and its components following
guidance set forth by section 220-10 of the FASB Accounting Standards
Codification which establishes standards for the reporting and display of
comprehensive income and its components in the financial statements. There were
no items of comprehensive income (loss) applicable to the Company during the
years covered in the financial statements.
 
 Net Income per Common
Share- Net loss per common share is computed pursuant to section
260-10-45 of the FASB Accounting Standards Codification.  Basic net
loss per share is computed by dividing net loss by the weighted average number
of shares of common stock outstanding during the period.  Diluted net
loss per share is computed by dividing net loss by the weighted average number
of shares of common stock and potentially outstanding shares of common stock
during each period.  There were no potentially dilutive shares
outstanding as of June 30, 2010.
 
 Deferred Taxes- The
Company accounts for income taxes under Section 740-10-30 of the FASB Accounting
Standards Codification.  Deferred income tax assets and liabilities
are determined based upon differences between the financial reporting and tax
bases of assets and liabilities and are measured using the enacted tax rates and
laws that will be in effect when the differences are expected to
reverse.  Deferred tax assets are reduced by a valuation allowance to
the extent management concludes it is more likely than not that the assets will
not be realized.  Deferred tax assets and liabilities are measured
using enacted tax rates expected to apply to taxable income in the years in
which those temporary differences are expected to be recovered or settled. The
effect on deferred tax assets and liabilities of a change in tax rates is
recognized in the statements of operations in the period that includes the
enactment date.
 
 Fair Value of Financial
Instruments- The carrying amounts reported in the balance sheet for cash,
accounts receivable and payable approximate fair value based on the short-term
maturity of these instruments.
 
 Accounts Receivable-
Accounts deemed uncollectible are written off in the year they become
uncollectible. As of June 30, 2010 and 2009, the balance in Accounts Receivable
was $0 and $0, respectively.
 
 Impairment of Long-Lived
Assets- The Company evaluates the recoverability of its fixed assets and
other assets in accordance with section 360-10-15 of the FASB Accounting
Standards Codification for disclosures about Impairment or Disposal of
Long-Lived Assets.  Disclosure requires recognition of impairment of
long-lived assets in the event the net book value of such assets exceeds its
expected cash flows. If so, it is considered to be impaired and is written down
to fair value, which is determined based on either discounted future cash flows
or appraised values. The Company adopted the statement on inception. No
impairments of these types of assets were recognized during the two years ended
June 30, 2010.
 
 Stock-Based
Compensation- The Company accounts for stock-based compensation using the
fair value method following the guidance set forth in section 718-10 of the FASB
Accounting Standards Codification for disclosure about Stock-Based Compensation.
This section requires a public entity to measure the cost of employee services
received in exchange for an award of equity instruments based on the grant-date
fair value of the award (with limited exceptions). That cost will be recognized
over the period during which an employee is required to provide service in
exchange for the award- the requisite service period (usually the vesting
period). No compensation cost is recognized for equity instruments for which
employees do not render the requisite service.
  Fair Value for Financial
Assets and Financial Liabilities- The Company follows paragraph
825-10-50-10 of the FASB Accounting Standards Codification for disclosures about
fair value of its financial instruments and paragraph 820-10-35-37 of the FASB
Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair
value of its financial instruments.  Paragraph 820-10-35-37
establishes a framework for measuring fair value in accounting principles
generally accepted in the United States of America (U.S. GAAP), and expands
disclosures about fair value measurements. To increase consistency and
comparability in fair value measurements and related disclosures, Paragraph
820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to
valuation techniques used to measure fair value into three broad
levels.  The fair value hierarchy gives the highest priority to quoted
prices (unadjusted) in active markets for identical assets or liabilities and
the lowest priority to unobservable inputs.  The three levels of fair
value hierarchy defined by Paragraph 820-10-35-37 are described
below:
 
 Level
      1
                Quoted
      market prices available in active markets for identical assets or
      liabilities as of the reporting date.Level
      2
                Pricing
      inputs other than quoted prices in active markets included in Level 1,
      which are either directly or indirectly observable as of the reporting
      date.Level
      3
                Pricing
      inputs that are generally observable inputs and not corroborated by market
      data.
 
 The
carrying amounts of the Company’s financial assets and liabilities, such as cash
and accrued expenses, approximate their fair values because of the short
maturity of these instruments. The Company’s note payable approximates the fair
value of such instrument based upon management’s best estimate of interest rates
that would be available to the Company for similar financial arrangement at June
30, 2010.
 
 The
Company does not have any assets or liabilities measured at fair value on a
recurring or a non-recurring basis, consequently, the Company did not have any
fair value adjustments for assets and liabilities measured at fair value at June
30, 2010, nor gains or losses are reported in the statement of operations that
are attributable to the change in unrealized gains or losses relating to those
assets and liabilities still held at the reporting date for the interim year
ended June 30, 2010.
 
 Recent Accounting
Pronouncements
  In March
2010, the FASB issued Accounting Standard Update No. 2010-11 “Derivatives and
Hedging” (Topic 815). ASU No. 2010-11 update provides amendments to subtopic
815-15, Derivatives and hedging. The amendments clarify about the scope
exception in paragraph 815-10-15-11 and section 815-15-25 as applicable to the
embedded credit derivatives. The ASU is effective on the first day of the first
fiscal quarter beginning after June 15, 2010. Therefore, for a calendar-year-end
entity, the ASU becomes effective on July 1, 2010. Early application is
permitted at the beginning of the first fiscal quarter beginning after March 5,
2010
 
 In April
2010, the FASB issued Accounting Standard Update No. 2010-12. “Income Taxes”
(Topic 740). ASU No.2010-12 amends FASB Accounting Standard Codification
subtopic 740-10 Income Taxes to include paragraph 740-10-S99-4. On March 30,
2010 The President signed the Health Care & Education Affordable Care Act
reconciliation bill that amends its previous Act signed on March 23, 2010. FASB
Codification topic 740, Income Taxes, requires the measurement of current and
deferred tax liabilities and assets to be based on provisions of enacted tax
law. The effects of future changes in tax laws are not anticipated.” Therefore,
the different enactment dates of the Act and reconciliation measure may
affect
  7
  The accompanying notes are an
integral part of these financial statements.
  NOTE C—SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES—CONT’D
 
 Recent Accounting
Pronouncements (cont’d)
 
 registrants
with a period-end that falls between March 23, 2010 (enactment date of the Act),
and March
 30, 2010
(enactment date of the reconciliation measure). However, the announcement states
that the SEC would not object if such registrants were to account for the
enactment of both the Act and the reconciliation measure in a period ending on
or after March 23, 2010, but notes that the SEC staff “does not believe that it
would be appropriate for registrants to analogize to this view in any other fact
patterns.”
 
 In April
2010, the FASB issued Accounting Standard Update No. 2010-13 “Stock
Compensation” (Topic 718). ASU No.2010-13 provides amendments to Topic 718 to
clarify that an employee share-based payment award with an exercise price
denominated in the currency of a market in which a substantial portion of the
entity's equity securities trades should not be considered to contain a
condition that is not a market, performance, or service condition. Therefore, an
entity would not classify such an award as a liability if it otherwise qualifies
as equity. The amendments in this Update are effective for fiscal years, and
interim periods within those fiscal years, beginning on or after December 15,
2010. The amendments in this Update should be applied by recording a
cumulative-effect adjustment to the opening balance of retained earnings. The
cumulative-effect adjustment should be calculated for all awards outstanding as
of the beginning of the fiscal year in which the amendments are initially
applied, as if the amendments had been applied consistently since the inception
of the award. The cumulative-effect adjustment should be presented separately.
Earlier application is permitted.
 
 In April
2010, the FASB issued Accounting Standards Update No.2010-14, “Accounting for
Extractive Activities – Oil & Gas” (Topic 932). ASU No. 2010-14 amends FASB
accounting Standard paragraph 932-10-S99-1 due to SEC release no. 33-8995 [FR
78], Modernization of Oil and Gas Reporting and provides update as to amendments
to SEC Regulation S-X, Rule 4-10.
 
 In April
2010, the FASB issued Accounting Standard Update No. 2010-15. “Financial
Services-Insurance” (Topic 944) ASU No.2010-15 gives direction on how
investments through separate accounts affect an insurer’s consolidation analysis
of those investments. Under the ASU: an insurance entity should not consider any
separate account interests held for the benefit of policy holders in an
investment to be the insurer's interests and should not combine those interests
with its general account interest in the same investment when assessing the
investment for consolidation, unless the separate account interests are held for
the benefit of a related party policy holder as defined in the Variable Interest
Entities Subsections of Subtopic 810-10 and those Subsections require the
consideration of related parties. The amendments in this Update are effective
for fiscal years, and interim periods within those fiscal years, beginning
after
 December
15, 2010. Early adoption is permitted. The amendments in this Update should be
applied retrospectively to all prior periods upon the date of
adoption.
 
 In April
2010, the FASB issued Accounting Standard Update No. 2010-16.
“Entertainment-Casinos” (Topic 924). ASU No.2010-16 addresses diversity in
practice regarding whether an entity accrues liabilities for a base jackpot
before it is won because they could avoid the payment. The amendments in this
update clarify that an entity should not accrue jackpot liabilities (or portions
thereof) before a jackpot is won if the entity can avoid paying that jackpot.
Jackpots should be accrued and charged to revenue when an entity has the
obligation to pay the jackpot. This guidance applies to both base and
progressive jackpots. The ASU amendments are effective for fiscal years, and the
interim periods within those fiscal years, beginning on or after December 15,
2010.
  In April
2010, the FASB issued Accounting Standard Update No. 2010-17. “Revenue
Recognition-Milestone Method” (Topic 605) ASU No.2010-17 provides guidance on
defining a milestone and determining when it may be appropriate to apply the
milestone method of revenue recognition for research or development
transactions. An entity often recognizes these milestone payments as revenue in
their entirety upon achieving a specific result from the research or development
efforts. A vendor can recognize consideration that is contingent upon
achievement of a milestone in its entirety as revenue in the period in which the
milestone is achieved only if the milestone meets all criteria to be considered
substantive. Determining whether a milestone is substantive is a matter of
judgment made at the inception of the arrangement. The ASU is effective for
fiscal years and interim periods within those fiscal years beginning on or after
June 15, 2010. Early application is permitted. Entities can apply this guidance
prospectively to milestones achieved after adoption. However, retrospective
application to all prior periods is also permitted.
 
 In April
2010, the FASB issued Accounting Standard Update No. 2010-18. “Receivables”
(Topic 310). ASU No.2010-18 provides guidance on accounting for acquired loans
that have evidence of credit deterioration upon acquisition. Paragraph
310-30-15-6 allows acquired assets with common risk characteristics to be
accounted for in the aggregated as a pool. Upon establishment of the pool, the
pool becomes the unit of accounting. When loans are accounted for as a pool, the
purchase discount is not allocated to individual loans; thus all of the loans in
the pool accrete at a single pool rate (based on cash flow projections for the
pool). Under subtopic 310-30, the impairment analysis also is performed on the
pool as a whole as opposed to each individual loan. Paragraphs 310-40-15-4
through 15-12 establish the criteria for evaluating whether a loan modification
should be classified as a troubled debt restructuring. Specifically paragraph
310-40-15-5 states that “a restructuring of a debt constitutes a troubled debt
restructuring for purposes of this subtopic if the creditor for economic or
legal reasons related to the debtor’s financial difficulties grants a concession
to the debtor that it would not otherwise consider.” The ASU is effective for
modification of loans accounted for within pools under subtopic 310-30 occurring
in the first interim or annual period ending on or after July 15, 2010. The
amendments are to be applied prospectively. Early application is
permitted.
 
 In May
2010, the FASB issued Accounting Standard Update No. 2010-19 “Foreign Currency”.
(“ASU No. 2010-19”). ASU 2010-19, codifies the SEC staff announcement made at
the March 18, 2010, EITF meeting. The ASU “provides the SEC staff’s views on
certain foreign currency issues related to investments in Venezuela.” These
issues relate to Venezuela’s highly inflationary status. The ASU became
effective on March 18, 2010.
 Other
ASUs not effective until after June 30, 2010, are not expected to have a
significant effect on the Company’s consolidated financial position or results
of operations.
 
 NOTE D-SUPPLEMENTAL CASH
FLOW INFORMATION
 
 Supplemental
disclosures of cash flow information for the quarters ended June 30, 2010 and
2009 is summarized as follows:
 
 Cash paid
during the years ended June 30, 2010 and 2009 for interest and income
taxes:
 
 2010
                
                
                2009Interest
                
                $
                -
                
                
                $
                -Taxes
                
                $
                -
                
                
                $
                -
  8
  The accompanying notes are an
integral part of these financial statements.
  NOTE E-SEGMENT
REPORTING
 
 The
Company follows the guidance set forth by section 280-10 of the FASB Accounting
Standards Codification for reporting and disclosure on operating segments of the
Company. It also requires segment disclosures about products and services,
geographic areas, and major customers. The Company determined that it did not
have any separately reportable operating segments as of June 30,
2010.
 
 NOTE F—CAPITAL
STOCK
 
 The
Company is authorized to issue 100,000,000 common shares at $.0001 par value per
share.
 
 As of
June 30, 2010, the Company had the following common shares
outstanding:
  Number
      of shares
                
                
                Total
      Purchase PriceAnge
      Properties, LLC
                
                
                500,000
                
                
                $
                50Garvin
      Strategic Capitol, LLC
                
                
                250,000
                
                
                
                25Gideon
      Atlantic, LLC
                
                
                250,000
                
                
                
                251,000,000
                
                
                $
                100
  The
Company is authorized to issue 10,000,000 preferred shares at $.0001 par value
per share.
 
 As of
June 30, 2010, the Company has not issued any preferred shares of
stock.
 
 NOTE G – DEVELOPMENT STAGE
COMPANY
 
 The
Company is in the development stage as of June 30, 2010 and to date has had no
significant operations.  Recovery of the Company’s assets is dependent
on future events, the outcome of which is indeterminable. In addition,
successful completion of the Company’s development program and its transition,
ultimately, to attaining profitable operations is dependent upon obtaining
adequate financing to fulfill its development activities and achieving a level
of sales adequate to support the Company’s cost structure.
 
 NOTE H—SHAREHOLDER
LOAN/RELATED PARTY
 
 The
Company has an outstanding Note Payable with a related party.  The
amount of the loan is $18,279 and it is payable on demand, the annual interest
rate on the note is 8%.
 
 Accrued
interest not paid for the period from inception (December 3, 2007) through June
30, 2010 was $2,260.
  NOTE I—INCOME
TAXES
 
 Due to
the operating loss and the inability to recognize an income tax benefit, there
is no provision for current or deferred federal or state income taxes for the
period from inception through March 31, 2010.
 
 Deferred
income taxes reflect the net tax effects of temporary differences between the
carrying amounts of assets and liabilities for financial reporting purposes and
the amount used for federal and state income tax purposes.
 
 The
Company’s total deferred tax asset, calculated using federal and state effective
tax rates, as of March 31, 2010 is as follows:
 
 Total
      Deferred Tax Asset
                
                $
                (7,300
                )Valuation
      Allowance
                
                
                7,300Net
      Deferred Tax Asset
                
                $
                -
 
 The
reconciliation of income taxes computed at the federal statutory income tax rate
to total income taxes for the years ended March 31, 2010and 2009 is as
follows:
 
 2010
                
                
                2009Income
      tax computed at the federal statutory rate
                
                
                34.0
                %
                
                
                34.0
                %State
      income tax, net of federal tax benefit
                
                
                0.0
                %
                
                
                0.0
                %Total
                
                
                34.0
                %
                
                
                34.0
                %Valuation
      allowance
                
                
                -34.0
                %
                
                
                -34.0
                %Total
      deferred tax asset
                
                
                0.0
                %
                
                
                0.0
                %
  Because
of the Company’s lack of earnings history, the deferred tax asset has been fully
offset by a valuation allowance.  The valuation allowance increased
(decreased) by approximately $2,200 and $2,000 in the years ended March 31, 2010
and 2009, respectively.
 
 As of
March 31, 2010, the Company had a federal and state net operating loss carry
forward in the amount of approximately $21,492, which expires in the year
2030.
 9
  Item
2. Management’s Discussion and Analysis or Plan of Operation.
 
 Overview.
 
 Tryon Alpha,
Inc. (“we”, “us” or the “Company”) was organized in the State of Nevada on
December 3, 2007.  We are a developmental stage company and have not
generated any revenues to date.  We were organized to serve as a
vehicle to acquire, through a reverse acquisition, merger, capital stock
exchange, asset acquisition or other similar business combination (“Business
Combination”), an operating or development stage business ("Target Business")
which desires to utilize our status as a reporting corporation under the
Securities Exchange Act of 1934.  We are in the process of identifying
and evaluating Target Businesses.  We are not presently engaged in,
and will not engage in, any substantive commercial business operations unless
and until we consummate a Business Combination.
 
 Our
management has broad discretion with respect to identifying and selecting a
prospective Target Business.  We have not established any specific
attributes or criteria (financial or otherwise) for prospective Target
Businesses.  Our sole officer and director has never served as an
officer or director of a development stage public company with the business
purpose of entering into a transaction such as that contemplated by our
Company.  Accordingly, he may not successfully identify a Target
Business or conclude a Business Combination.   To the extent we
affect a Business Combination with a financially unstable company or an entity
in its early stage of development or growth, including entities without
established records of sales or earnings, we may be affected by numerous risks
inherent in the business and operations of financially unstable and early stage
or potential emerging growth companies.  If we consummate a Business
Combination with a foreign entity, we will be subject to all of the risks
attendant to foreign operations.  Although our management will
endeavor to evaluate the risks inherent in a particular Target Business, we
cannot assure you that we will properly ascertain or assess all significant risk
factors.
 
 We expect
that in connection with any Business Combination, we will issue a significant
number of shares of our common stock (equal to at least 80% of the total number
of shares outstanding after giving effect to the transaction and likely, a
significantly higher percentage) in order to ensure that the Business
Combination qualifies as a “tax free” transaction under federal tax
laws.  The issuance of additional shares of our capital stock
will:
 
 ·
              significantly
      reduce the equity interest of our stockholders as of the date of the
      transaction; and
 
 ·
              cause
      a change in likely result in the resignation or removal of our officers
      and directors as of the date of the
transaction.
 
 Our
management anticipates that the Company likely will affect only one Business
Combination, due primarily to our financial resources and the dilution of
interest for present and prospective stockholders, which is likely to occur as a
result of our management's plan to offer a controlling interest to a Target
Business in order to achieve a tax-free reorganization.  This lack of
diversification should be considered a substantial risk in investing in us
because it will not permit us to offset potential losses from one venture
against potential gains from another.
 
 Liquidity and Capital
Resources.
 
 At June 30,
2010, we had no
cashon
hand.  We do not expect that these funds will be
sufficient to cover our operating costs and expenses.  During the next
twelve months we anticipate that we will incur costs and expenses in connection
with the preparation and filing of reports under the Exchange Act, the
identification and evaluation of Target Businesses and, possibly, the
consummation of Business Combination.
 To date, we
have funded our operations through loans from our stockholders and, as of June
30, 2010, we had borrowed an aggregate of $ 18,279  from them,
including $ 2,824  during the three months then
ended.  Our stockholders have advised us that they expect to fund
additional costs and expenses that we will incur through loans or further
investment in the Company, as and when necessary.
 
 We cannot
provide investors with any assurance that we will have sufficient capital
resources to identify a suitable Target Business, to conduct effective due
diligence as to any Target Business or to consummate a Business
Combination.  As a result of our negative working capital, our losses
since inception, and failure to generate revenues from operations, our financial
statements include a note in which our auditor has expressed doubt about our
ability to continue as a "going concern."
 
 Results of
Operations.
 
 Since our
inception, we have not generated any revenues.  We reported a net loss
for the three month period ended June 30, 2010 of $2,135 and a net loss since
inception of $23,527.  The Company has used cash from operations of $
23,568  since its inception, consisting primarily of professional
fees, and has a negative working capital of $23,468 at June 30,
2010.
 
 We do not
expect to engage in any activities, other than seeking to identify a Target
Business, unless and until such time as we enter into a Business Combination
with a Target Business, if ever.  We cannot provide investors with any
assessment as to the nature of a Target Business’s operations or speculate as to
the status of its products or operations, whether at the time of the Business
Combination it will be generating revenues or its future
prospects.  As a result of our negative working capital, our losses
since inception, and failure to generate revenues from operations, our financial
statements include a note in which our auditor has expressed doubt about our
ability to continue as a going concern.
  Item
3. Quantitative and Qualitative Disclosures About Market Risk.
 
 Not applicable.
 
 Item
4(T). Controls and Procedures.
 
 Evaluation
of Disclosure Controls and Procedures
 
 As of June
30, 2010, the Company’s management carried out an evaluation, under the
supervision and with the participation of the Company’s Chief Executive Officer,
who is the Company’s principal executive officer and principal financial
officer, of the effectiveness of the design and operation of the Company’s
disclosure controls and procedures (as defined in Rules 13a-15 and 15d-15 under
the Exchange Act), pursuant to Exchange Act Rule 13a-15. Based on such
evaluation, the Company’s Chief Executive Officer has concluded that the
Company's disclosure controls and procedures were effective.
 
 Changes
in Internal Controls
 
 There have been no changes in the
Company’s internal control over financial reporting (as defined in Rules 13a-15
and 15d-15 under the Exchange Act) during the three months ended June 30, 2010
that have materially affected, or are reasonably likely to materially affect,
the Company’s internal control over financial reporting.
  10
  PART
II — OTHER INFORMATION
 
 Item
1. Legal Proceedings.
 
 The
Company is not a party to any legal proceeding or litigation.
 
 Item
1A. Risk Factors.
 
 Smaller
reporting companies are not required to provide the information required by this
item.
 
 Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
 
 (a) During the three months
      ended June 30, 2010, the Company did not issue any
    securities.(b) Not
      applicable.(c)
      During the three months ended June 30, 2010, neither the issuer nor any
      "affiliated purchaser," as defined in Rule 10b-18(a)(13), purchased any
      shares or other units of any class of the issuer's equity
      securities.
  Item
3. Defaults Upon Senior Securities.
 
 None.
 
 Item 4. (Removed and
Reserved)
 
 
 Item
5. Other Information.
 
 None.
 
 Item
6. Exhibits.
 
 Index to
Exhibits
 
 Exhibit
              
              Description31.1
              
              Certification of the Company’s Principal Executive
      Officer and Principal Financial Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002, with respect to the registrant’s Quarterly
      Report on Form 10-Q for the quarter ended June 30,
    2010.32.1
              
              Certification of the Company’s Principal Executive
      Officer and Principal Financial Officer pursuant to 18 U.S.C. Section
      1350, as adopted pursuant to Section 906 of the Sarbanes Oxley Act of
      2002.
 
 *  Pursuant
      to Commission Release No. 33-8238, this certification will be treated
      as “accompanying” this Quarterly Report on Form 10-Q and not “filed” as
      part of such reportfor
      purposes of Section 18 of the Securities Exchange Act of 1934, as
      amended, or otherwise subject to the liability of Section 18 of the
      Securities Exchange Act of 1934, as amended, and this certification will
      not be deemed to be incorporated by reference into any filing under the
      Securities Act of 1933, as amended, or the Securities Exchange Act of
      1934, as amended, except to the extent that the registrant specifically
      incorporates it by reference.
 
 11
 
 SIGNATURES
 
 Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused the Report to be signed on its behalf by the
undersigned
 thereunto
duly authorized.
 
 
 TRYON ALPHA,
      INC.Date:                      August
      23, 2010
              By:
              /s/ Mercer
      CauleyName:
              Mercer
      CauleyTitle:
              President
                (Principal
      Executive Officer and
                Principal
      Financial Officer)