-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, H87uUo0gAqOj/hWtkH4/gtPJfNHmwuq8dvrKde2e5yfDZKapOTr078fYFiI6A3cz p7tZ+dbzLEmPFzMJQnQZGw== 0001035449-03-000492.txt : 20031210 0001035449-03-000492.hdr.sgml : 20031210 20031210120528 ACCESSION NUMBER: 0001035449-03-000492 CONFORMED SUBMISSION TYPE: N-CSRS PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030930 FILED AS OF DATE: 20031210 EFFECTIVENESS DATE: 20031210 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERIPRIME FUNDS CENTRAL INDEX KEY: 0001000579 IRS NUMBER: 752616671 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CSRS SEC ACT: 1940 Act SEC FILE NUMBER: 811-09096 FILM NUMBER: 031046487 BUSINESS ADDRESS: STREET 1: 431 NORTH PENNSYLVANIA STREET 2: STREET CITY: INDIANAPOLIS STATE: IN ZIP: 46204 BUSINESS PHONE: 317-917-7000 MAIL ADDRESS: STREET 1: 431 NORTH PENNSYLVANIA STREET 2: STREET CITY: INDIANAPOLIS STATE: IN ZIP: 46204 N-CSRS 1 afncsrsemi0903.txt AMERIPRIME FUNDS united states securities and exchange commission washington, d.c. 20549 form n-csr certified shareholder report of registered management investment companies Investment Company Act file number 811-09096 Ameriprime Funds - ------------------------------------------------------- (Exact name of registrant as specified in charter) 431 N. Pennsylvania St. Indianapolis, IN 46204 - ------------------------------------------------------------- (Address of principal executive offices) (Zip code) Timothy Ashburn Unified Fund Services, Inc. 431 N. Pennsylvania St. Indianapolis, IN 46204 (Name and address of agent for service) Registrant's telephone number, including area code: 317-917-7000 Date of fiscal year end: 3/31 ---------- Date of reporting period: 09/30/03 ---------- Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection and policymaking roles. A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. Item 1. Reports to Stockholders. ======================================================= Columbia Partners Equity Fund ======================================================= Semi-Annual Report September 30, 2003 Fund Advisor: Columbia Partners, L.L.C. 1775 Pennsylvania Ave., N.W. Washington, D.C. 20006 Toll Free: (888) 696-2733 Columbia Partners Equity Fund Schedule of Investments in Securities September 30, 2003 (Unaudited) Number of Market COMMON STOCKS - 86.40% Shares Value ------------- ---------------- Air Transportation, Scheduled - 1.55% Northwest Airlines Co Class - A (a) 23,440 $ 227,368 ---------------- Beverages - 1.06% Coca-Cola Co. 3,610 155,086 ---------------- Cable & Other Pay Television Services - 1.28% TIVO, Inc. (a) 25,220 186,880 ---------------- Communication Equipment - 4.94% McDATA Corp. (a) 26,990 318,212 UTStarcom, Inc. (a) 12,755 405,736 ---------------- 723,948 ---------------- Communication Services - 1.51% XM Satellite Radio Holdings, Inc. - Class A (a) 14,050 220,866 ---------------- Computer Communication Equipment - 1.09% Enterasys Networks, Inc. (a) 40,020 160,080 ---------------- Computer Storage Devices - 3.30% Advanced Digital Information Corp. (a) 24,580 344,612 EMC Corp. (a) 11,040 139,435 ---------------- 484,047 ---------------- Computers & Office Equipment - 1.47% Hewlett-Packard Co. 5,935 114,902 International Business Machines Corp. 1,140 100,696 ---------------- 215,598 ---------------- Crude Petroleum & Natural Gas - 1.38% Ultra Petroleum Corp. (a) 14,445 201,508 ---------------- Drilling Oil & Gas Wells - 2.03% Nabors Industries, Inc. (a) 7,985 297,521 ---------------- Electronic & Other Electrical Equipment (No Computer Equipment) - 1.55% General Electric Co. 7,635 227,599 ---------------- Federal & Federally - Sponsored Credit Agencies - 0.81% Fannie Mae 1,685 118,287 ---------------- Food & Kindred Products - 0.63% Kraft Foods, Inc. 3,135 92,482 ----------------
See accompanying notes which are an integral part of the financial statements. Columbia Partners Equity Fund Schedule of Investments in Securities September 30, 2003 (Unaudited) Number of Market COMMON STOCKS - 86.40% - continued Shares Value ------------- ---------------- Hospital & Medical Service Plans - 2.22% Mid Atlantic Medical Services Inc (a) 6,335 325,809 ---------------- Laboratory Analytical Instruments - 2.10% Cytyc Corp. (a) 20,415 307,042 ---------------- Local & Suburban Transit & Interurban Hwy Passenger Trains - 1.75% Laidlaw International, Inc. (a) 26,075 256,839 ---------------- Miscellaneous Shopping Goods Stores - 1.70% Office Depot, Inc. 17,735 249,177 ---------------- Mortgage Bankers & Loan Correspondents - 1.56% E-Loan, Inc. (a) 62,855 228,164 ---------------- National Commercial Banks - 5.81% Citigroup, Inc. 3,369 153,323 Hibernia Corporation 12,415 251,528 MBNA Corp. 5,710 130,188 Providian Financial Corp. (a) 18,120 213,635 Wells Fargo & Co. 1,995 102,742 ---------------- 851,416 ---------------- Operative Builders - 1.96% Meritage Corp (a) 6,080 287,280 ---------------- Personal Credit Institutions - 0.72% SLM Corp. 2,720 105,971 ---------------- Petroleum Refining - 0.92% Exxon Mobil Corp. 3,705 135,603 ---------------- Pharmaceutical Preparations - 7.73% Abbott Laboratories, Inc. 2,375 101,056 Barr Laboratories, Inc. (a) 3,800 259,198 Columbia Laboratories, Inc. (a) 17,595 212,548 Johnson & Johnson 1,760 87,155 Pfizer, Inc. 3,895 118,330 SICOR, Inc. (a) 12,800 246,784 Wyeth 2,325 107,182 ---------------- 1,132,253 ---------------- Photographic Equipment & Supplies - 3.71% Avid Technology Inc (a) 5,890 311,228 Lexar Media, Inc. (a) 13,665 232,852 ---------------- 544,080 ----------------
See accompanying notes which are an integral part of the financial statements. Columbia Partners Equity Fund Schedule of Investments in Securities September 30, 2003 (Unaudited) Number of Market COMMON STOCKS - 86.40% - continued Shares Value ------------- ---------------- Primary Production of Aluminum - 0.76% Alcoa, Inc. 4,275 111,834 ---------------- Radiotelephone Communications - 2.08% NEXTEL Communications, Inc. - Class A (a) 15,455 304,309 ---------------- Retail - Apparel & Accessory Stores - 1.14% Pacific Sunware of California, Inc. (a) 8,057 166,458 ---------------- Retail - Family Clothing Stores - 1.75% Abercrombie & Fitch Co. - Class A (a) 9,275 257,010 ---------------- Retail - Lumber & Other Building Materials Dealers - 0.91% Home Depot Inc. 4,180 133,133 ---------------- Retail - Miscellaneous Shopping Goods Stores - 1.67% Barnes & Noble, Inc. (a) 9,630 244,698 ---------------- Retail - Variety Stores - 3.02% Costco Wholesale Corp. (a) 4,985 154,934 Target Corp. 3,750 141,112 Wal-Mart Stores, Inc. 2,625 146,606 ---------------- 442,652 ---------------- Savings Institution, Federally Chartered - 1.97% Sovereign Bancorp, Inc. 15,585 289,102 ---------------- Security Brokers, Dealers & Flotation Companies - 0.51% Merrill Lynch & Co., Inc. 1,390 74,407 ---------------- Semiconductors & Related Devices - 6.77% Intel Corp. 6,555 180,328 Marvell Technology Group Ltd. (a) 8,285 312,759 Silicon Storage Technology, Inc. (a) 21,560 188,650 Skyworks Solutions (a) 23,440 213,304 Texas Instruments, Inc. 4,275 97,470 ---------------- 992,511 ---------------- Services - Motion Picture & Video Tape Production - 0.87% AOL Time Warner, Inc. 8,410 127,075 ---------------- Services - Prepackaged Software - 1.35% Microsoft Corp. 7,145 198,559 ----------------
See accompanying notes which are an integral part of the financial statements. Columbia Partners Equity Fund Schedule of Investments in Securities September 30, 2003 (Unaudited) Number of Market COMMON STOCKS - 86.40% - continued Shares Value ------------- ---------------- Surgical & Medical Instruments & Apparatus - 0.95% Boston Scientific Corp. (a) 2,185 139,403 ---------------- Telephone & Telegraph Apparatus - 3.65% Polycom, Inc. (a) 19,640 326,220 Research, Inc. Motion Ltd.. (a) 5,445 207,999 ---------------- 534,219 ---------------- Telephone Communications (No Radiotelephone) - 0.69% SBC Communications, Inc. 4,515 100,459 ---------------- Transportation Services - 3.64% ebookers Plc. (c) 16,570 303,397 InteractiveCorp (a) 6,970 230,358 ---------------- 533,755 ---------------- Wholesale - Professional & Commercial Equipment & Supplies - 1.89% Advanced Medical Optics, Inc. (a) 15,385 276,315 ---------------- TOTAL COMMON STOCKS (Cost $12,098,467) 12,660,803 ---------------- Exchange Traded Funds - 10.14% iShares Russell 2000 Index Fund 8,410 815,518 S & P 500 Depository Receipts 6,710 670,462 ---------------- TOTAL EXCHANGE TRADED FUNDS (Cost $1,501,677) 1,485,980 ---------------- Money Market Securities - 14.88% Huntington Money Market Fund - Investment Shares, 0.25%, (Cost $2,180,320) (b) 2,180,320 2,180,320 ---------------- TOTAL INVESTMENTS (Cost $15,780,464) - 111.42% $ 16,327,103 ---------------- Liabilities in excess of cash and other assets - (11.42%) (1,673,066) ---------------- TOTAL NET ASSETS - 100.00% $ 14,654,037 ================
(a) Non-income producing. (b) Variable rate security; the coupon rate shown represents the rate at September 30, 2003. (c) American Depository Receipts. See accompanying notes which are an integral part of the financial statements. Columbia Partners Equity Fund Statement of Assets and Liabilities September 30, 2003 (Unaudited) ASSETS Investments in securities, at value (cost $15,780,464) (Note 2) $ 16,327,103 Dividends and interest receivable 3,578 Receivable for fund shares sold 34,460 Receivable for securities sold 441,398 ------------- Total Assets 16,806,539 ------------- LIABILITIES Payable for Securities purchased 2,137,145 Accrued advisory fees 13,885 Accrued expenses and other liabilities 1,472 ------------- Total Liabilities 2,152,502 ------------- NET ASSETS Net Assets for 1,689,159 shares $ 14,654,037 ============= Composition of net assets: Paid in capital $ 20,948,924 Accumulated net investment income (loss) (46,238) Accumulated net realized gain (loss) from investments (6,795,289) Net unrealized appreciation (depreciation) on investments 546,640 ------------- $ 14,654,037 ============= Offering price and redemption price per share ($14,654,037 / 1,689,159) $ 8.68 ============= See accompanying notes which are an integral part of the financial statements. Columbia Partners Equity Fund Statement of Operations For the Six Months Ended September 30, 2003 (Unaudited) Investment Income: Dividends $ 36,686 Interest 1,167 ----------- Total investment income 37,853 ----------- Expenses: Advisory fees (Note 3) 84,091 Trustee's fees 1,471 ----------- Total expenses 85,562 Reimbursed fees (Note 3) (1,471) ----------- Net Expenses 84,091 ----------- Investment income - net (46,238) ----------- Net Realized and Unrealized Losses on Investments: (Note 2) Net realized gain (loss) on securities transactions (28,562) Net change in unrealized appreciation (depreciation) on investments 3,276,070 ----------- Net realized and unrealized gain (loss) on investments 3,247,508 ----------- Net increase (decrease) in net assets resulting from operations $ 3,201,270 ============ See accompanying notes which are an integral part of the financial statements. Columbia Partners Equity Fund Statements of Changes in Net Assets Six Months Year Ended Ended September 30, March 31, 2003 2003 (Unaudited) ---------------- ---------------- Operations: Net investment income (loss) $ (46,238) $ (80,295) Net realized gain (loss) from investment transactions (28,562) (2,321,862) Net change in unrealized appreciation (depreciation) on investments 3,276,070 (2,369,790) Net increase (decrease) in net assets resulting ---------------- ---------------- from operations 3,201,270 (4,771,947) ---------------- ---------------- Fund Share Transactions: Proceeds from shares sold 329,698 830,252 Amount paid for shares repurchased (1,091,524) (1,737,167) ---------------- ---------------- Net increase (decrease) in net assets resulting from share transactions (Note 4) (761,826) (906,915) ---------------- ---------------- Net increase (decrease) in net assets 2,439,444 (5,678,862) Net Assets, Beginning of Period 12,214,593 17,893,455 ---------------- ---------------- Net Assets, End of Period $ 14,654,037 $ 12,214,593 ================ ================ Capital Share Transactions: Shares sold 40,717 109,968 Shares reinvested - Shares redeemed (134,734) (231,692) ---------------- ---------------- (94,017) (121,724) ================ ================
See accompanying notes which are an integral part of the financial statements. Columbia Partners Equity Fund FINANCIAL HIGHLIGHTS (For a share outstanding throughout each year) Six Months Year Year Year Year Ended Ended Ended Ended Ended ----------------------------------------------------------------- ------------ 2003 (Unaudited) 2003 2002 2001 2000 -------------------- -------------- --------------- ------------ ------------ Net asset value, beginning of year $ 6.85 $ 9.39 $ 9.39 $ 17.16 $ 10.00 Income (loss) from investment operations: Net investment income (loss) (0.02) (0.04) (0.05) (0.05) (0.04) Net gains or (losses) on securities (both realized and unrealized) 1.85 (2.50) 0.05 (5.41) 7.59 -------------------- -------------- --------------- ------------ ------------ Total from investment operations 1.83 (2.54) - (5.46) 7.55 -------------------- -------------- --------------- ------------ ------------ Less distributions Distributions (from capital gains) - - - (2.31) (0.39) -------------------- -------------- --------------- ------------ ------------ Total dividend and distributions - - - (2.31) (0.39) -------------------- -------------- --------------- ------------ ------------ Net asset value, end of year $ 8.68 $ 6.85 $ 9.39 $ 9.39 $ 17.16 ==================== ============== =============== ============ ============ Total return 26.72% (27.05)% 0.00% (33.94)% 76.56% Net assets, end of year (000) $ 14,654 $ 12,215 $ 17,893 $ 17,063 $ 24,040 Ratio of expenses to average net assets 1.20% 1.20% 1.20% 1.20% 1.20% Ratio of expenses to average net assets before waiver 1.22% 1.22% 1.21% 1.21% 1.22% Ratio of net income (loss) to average net assets (0.66)% (0.59)% (0.48)% (0.34)% (0.31)% Ratio of net income (loss) to average net assets before waiver (0.68)% (0.61)% (0.49)% (0.35)% (0.34)% Portfolio Turnover Rate 99.18% 61.29% 102.94% 67.93% 215.08%
See accompanying notes which are an integral part of the financial statements. Columbia Partners Equity Fund Notes to Financial Statements September 30, 2003 (Unaudited) NOTE 1. ORGANIZATION Columbia Partners Equity Fund (the "Fund") was organized as a diversified series of the AmeriPrime Funds, an Ohio business trust (the "Trust"), on February 2, 1999 and commenced operations on April 1, 1999. The Trust is an open-end investment company established under the laws of Ohio by an Agreement and Declaration of Trust dated August 8, 1995 (the "Trust Agreement"). The Trust Agreement permits the Board of Trustees of the Trust (the "Board") to issue an unlimited number of shares of beneficial interest of separate series without par value. The Fund is one of a series of funds currently authorized by the Board. The Fund's investment objective is to provide long-term capital growth. The investment advisor to the Fund is Columbia Partners, L.L.C. (the "Advisor"). NOTE 2. SIGNIFICANT ACCOUNTING POLICIES The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements. Securities Valuations- Securities that are traded on any exchange or on the NASDAQ over-the-counter market are valued at the last quoted sale price. Lacking a last sale price, a security is valued at its last bid price except when, in the Advisor's opinion, the last bid price does not accurately reflect the current value of the security. All other securities for which over-the-counter market quotations are readily available are valued at their last bid price. When market quotations are not readily available, when the Advisor determines the last bid price does not accurately reflect the current value or when restricted securities are being valued, such securities are valued as determined in good faith by the Advisor, in conformity with guidelines adopted by and subject to review of the Board. Fixed income securities generally are valued by using market quotations, but may be valued on the basis of prices furnished by a pricing service when the Advisor believes such prices accurately reflect the fair market value of such securities. A pricing service utilizes electronic data processing techniques based on yield spreads relating to securities with similar characteristics to determine prices for normal institutional-size trading units of debt securities without regard to sale or bid prices. If the Advisor decides that a price provided by the pricing service does not accurately reflect the fair market value of the securities, when prices are not readily available from a pricing service or when restricted or illiquid securities are being valued, securities are valued at fair value as determined in good faith by the Advisor, in conformity with guidelines adopted by and subject to review of the Board. Short-term investments in fixed income securities with maturities of less than 60 days when acquired, or which subsequently are within 60 days of maturity, are valued by using the amortized cost method of valuation, which the Board has determined will represent fair value. Federal Income Taxes- There is no provision for federal income tax. The Fund intends to qualify each year as a "regulated investment company" under Sub-Chapter M of the Internal Revenue Code of 1986, as amended, by distributing substantially all of its net investment income and net realized capital gains. Security Transactions and Related Income- The Fund follows industry practice and records security transactions on the trade date. The specific identification method is used for determining gains or losses for financial statements and income tax purposes. Dividend income is recorded on the ex-dividend date and interest income is recorded on an accrual basis. Discounts and premiums on securities purchased are amortized over the life of the respective securities. Columbia Partners Equity Fund Notes to Financial Statements September 30, 2003- continued (Unaudited) NOTE 2. SIGNIFICANT ACCOUNTING POLICIES - continued Dividends and Distributions- The Fund intends to distribute substantially all of its net investment income as dividends to its shareholders on at least an annual basis. The Fund intends to distribute its net realized long term capital gains and its net realized short term capital gains at least once a year. The treatment for financial reporting purposes of distributions made to shareholders during the year from net investment income or net realized capital gains may differ from their ultimate treatment for federal income tax purposes. These differences are caused by differences in the timing of the recognition of certain components of income, expense or realized capital gain for federal income tax purposes. Where such differences are permanent in nature, they are reclassified in the components of the net assets based on their ultimate characterization for federal income tax purposes. Any such reclassifications will have no effect on net assets, results of operations or net asset values per share of the Fund. NOTE 3. FEES AND OTHER TRANSACTIONS WITH AFFILIATES The Investment Advisor of the Fund is Columbia Partners, L.L.C. Under the terms of the management agreement, (the "Agreement"), the Advisor manages the Fund's investments subject to approval of the Board and pays all of the expenses of the Fund except brokerage fees and commissions, taxes, interest, fees and expenses of non-interested person trustees and extraordinary expenses. As compensation for its management services and agreement to pay the Fund's expenses, the Fund is obligated to pay the Advisor a fee of 1.20% of the average value of the daily net assets of the Fund. It should be noted that most investment companies pay their own operating expenses directly, while the Fund's expenses, except those specified above, are paid by the Advisor. For the six months ended September 30, 2003, the Advisor earned a fee of $84,091 from the Fund. The Advisor contractually has agreed to reimburse fees and expenses of the non-interested person trustees, but only to the extent necessary to maintain the Fund's total operating expenses at 1.20% of net assets. For the six months ended September 30, 2003, the Advisor reimbursed fees, except brokerage fees and commissions, taxes, interest, fees and expenses of non-interested person trustees and extraordinary expenses of $1,472. The Trust retains Unified Fund Services, Inc. ("Unified"), a wholly owned subsidiary of Unified Financial Services, Inc., to manage the Fund's business affairs and to provide the Fund with administrative services, fund accounting, and transfer agency services, including all regulatory reporting and necessary office equipment and personnel. The Advisor paid all administrative, transfer agency, and fund accounting fees on behalf of the Fund per the Agreement. Certain Trustees and the officers of the Trust are members of management and employees of Unified, and/or shareholders of Unified Financial Services, Inc. The Fund retains Unified Financial Securities, Inc. (the "Distributor"), to act as the principal distributor of shares. There were no payments made by the Fund to the Distributor during the six months ended September 30, 2003. The Advisor paid all fees of the Fund under the distribution agreement. A Trustee and officers of the Trust are a director and/or officer, respectively, of the Distributor and of Unified Financial Services, Inc. (the parent company of the Distributor and Unified), and may be deemed to be affiliates of the Distributor. Columbia Partners Equity Fund Notes to Financial Statements September 30, 2003- continued (Unaudited) NOTE 4. INVESTMENT TRANSACTIONS For the six months ended September 30, 2003, purchases and sales of investment securities, other than short-term investments and U.S. government obligations, aggregated $13,010,686 and $13,564,241, respectively. As of September 30, 2003, the gross unrealized appreciation for all securities totaled $1,581,065 and the gross unrealized depreciation for all securities totaled $1,034,425, for a net unrealized appreciation of $546,640. At September 30, 2003, the aggregate cost of securities for federal income tax purposes was $15,780,464. NOTE 5. ESTIMATES Preparation of financial statements in accordance 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 the reported amounts of revenues and expenses during the reporting fiscal year. Actual results could differ from those estimates. Item 2. Code of Ethics. N/A Item 3. Audit Committee Financial Expert. N/A Item 4. Principal Accountant Fees and Services. Not applicable Item 5. Audit Committee of Listed Companies. Not applicable. Item 6. Reserved. Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Funds. Not applicable. Item 8. Reserved. Item 9. Controls and Procedures. (a) Based on an evaluation of the registrant's disclosure controls and procedures as of September 30, 2003, the disclosure controls and procedures are reasonably designed to ensure that the information required in filings on Forms N-CSR is recorded, processed, summarized, and reported on a timely basis. (b) There were no significant changes in the registrant's internal control over financial reporting that occurred during the registrant's last fiscal half-year that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 10. Exhibits. (a)(1) N/A (a)(2) Certifications required by Item 10(a)(2) of Form N-CSR are filed herewith. (b) Certification required by Item 10(b) of Form N-CSR is filed herewith. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Ameriprime Funds By /s/ Timothy Ashburn Timothy Ashburn, President Date 12/1/03 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By /s/ Timothy Ashburn Timothy Ashburn, President Date 12/1/03 ------------------------------------- By /s/ Thomas G. Napurano Thomas Napurano, Treasurer and Chief Financial Officer Date 12/3/03 ------------------------------------- EX-32 3 ex99906cert.txt AMERIPRIME FUNDS EX-99.906CERT certification Timothy Ashburn, President, and Thomas Napurano, Treasurer and Chief Financial Officer of Ameriprime Funds (the "Registrant"), each certify to the best of his or her knowledge that: 1. The Registrant's periodic report on Form N-CSR for the period ended September 30, 2003 (the "Form N-CSR") fully complies with the requirements of Sections 15(d) of the Securities Exchange Act of 1934, as amended; and 2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. President Treasurer and Chief Financial Officer Ameriprime Funds Ameriprime Funds /s/ Timothy Ashburn /s/ Thomas Napurano Timothy Ashburn Thomas Napurano Date: 12/1/03 Date: 12/3/03 ----------------------------- ---------------------------- A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to Ameriprime Funds and will be retained by Ameriprime Funds and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request. This certification is being furnished to the Commission solely pursuant to 18 U.S.C. ss. 1350 and is not being filed as part of the Form N-CSR filed with the Commission. EX-31 4 ex99cert.txt AMERIPRIME FUNDS Exhibit 99.CERT CERTIFICATIONS I, Timothy Ashburn, certify that: 1. I have reviewed this report on Form N-CSR of Ameriprime Funds; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; c) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: 12/1/03 /s/ Timothy Ashburn -------------------------- Timothy Ashburn, President I, Thomas Napurano, certify that: 1. I have reviewed this report on Form N-CSR of Ameriprime Funds; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; c) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal half-year (the registrant's second fiscal half-year in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: 12/1/03 /s/ Thomas Napurano -------------------------- Thomas Napurano, Treasurer and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----