-----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, EteGOrjnUO894HEpyPwZf283dgEDLcLtO/aBJ6SeaLIT01YRgqvMLFbZyKdcfAfn q2pupHa64E1Y2AcIPVWISw== 0001035449-04-000639.txt : 20041228 0001035449-04-000639.hdr.sgml : 20041228 20041228092448 ACCESSION NUMBER: 0001035449-04-000639 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041031 FILED AS OF DATE: 20041228 DATE AS OF CHANGE: 20041228 EFFECTIVENESS DATE: 20041228 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-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-09096 FILM NUMBER: 041227476 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-Q 1 dobson103104nq.txt DOBSON UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-09096 --------- AmeriPrime Funds - ------------------------------------------------------------------------------ (Exact name of registrant as specified in charter) Unified Fund Services, Inc. 431 N. Pennsylvania Street Indianapolis, IN 46204 - ------------------------------------------------------------------------------ (Address of principal executive offices) (Zip code) Terry Gallagher - --------------------------- 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: 7/31 ------- Date of reporting period: 10/31/04 -------- Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q 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 the 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. Schedule of Investments. DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - (UNAUDITED) OCTOBER 31, 2004 COMMON STOCKS - 98.30% SHARES VALUE ----------- ------------------ AIR COURIER SERVICES - 1.41% FedEx Corp.(a) 1,000 $ 91,120 ------------------ AIRCRAFT - 3.09% Boeing Co. (a) 4,000 199,600 ------------------ BEVERAGES - 3.43% Coca-Cola Co. (a) 3,000 121,980 PepsiCo, Inc. (a) 2,000 99,160 ------------------ 221,140 ------------------ BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) - 1.76% Amgen, Inc. (a), (b) 2,000 113,600 ------------------ CABLE & OTHER PAY TELEVISION SERVICES - 3.22% Comcast Corp. Class A (a), (b) 3,323 98,029 Viacom, Inc. - Class B (a) 3,000 109,470 ------------------ 207,499 ------------------ CHEMICAL & ALLIED PRODUCTS - 1.39% Dow Chemical Co. (a) 2,000 89,880 ------------------ COMPUTER COMMUNICATION EQUIPMENT - 1.79% Cisco Systems, Inc. (a), (b) 6,000 115,260 ------------------ COMPUTERS & OFFICE EQUIPMENT - 2.78% International Business Machines Corp. (a) 2,000 179,500 ------------------ CONSTRUCTION MACHINERY & EQUIPMENT - 1.25% Caterpillar, Inc. (a) 1,000 80,540 ------------------ CONVERTED PAPER & PAPERBOARD PRODUCTS - 1.20% 3M Co. (a) 1,000 77,570 ------------------ CUTLERY, HANDTOOLS & GENERAL HARDWARE - 1.61% The Gillette Co. (a) 2,500 103,700 ------------------ DIVERSIFIED - 1.31% Honeywell International, Inc. (a) 2,500 84,200 ------------------ ELECTRIC SERVICES - 2.74% Dominion Resources, Inc. 1,000 64,320 Duke Energy, Inc. 2,000 49,060 The Southern Co. 2,000 63,180 ------------------ 176,560 ------------------ ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS - 1.58% Medtronic, Inc. (a) 2,000 102,220 ------------------ 1
DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS -CONTINUED OCTOBER 31, 2004 (UNAUDITED) COMMON STOCKS - 98.30% - CONTINUED SHARES VALUE ----------- ------------------ ELECTRONIC & OTHER ELECTRICAL EQUIPMENT - 2.65% General Electric Co. (a) 5,000 $ 170,600 ------------------ ELECTRONIC COMPUTERS - 2.17% Dell, Inc. (a), (b) 4,000 140,240 ------------------ FINANCE SERVICES - 5.97% American Express Co. (a) 3,000 159,210 First Data Corp. (a) 3,000 123,840 Morgan Stanley (a) 2,000 102,180 ------------------ 385,230 ------------------ FIRE, MARINE & CASUALTY INSURANCE - 1.88% American International Group, Inc. (a) 2,000 121,420 ------------------ MOTOR VEHICLES & PASSENGER CAR BODIES - 1.40% Ford Motor Co. 1,000 13,030 General Motors Corp. (a) 2,000 77,100 ------------------ 90,130 ------------------ NATIONAL COMMERCIAL BANKS - 10.46% Bank of America Corp. (a) 4,000 179,160 Citigroup, Inc. (a) 4,133 183,381 J.P. Morgan Chase & Co. (a) 4,980 192,228 Wells Fargo & Co. (a) 2,000 119,440 ------------------ 674,209 ------------------ OIL & GAS FIELD SERVICES - 1.95% Schlumberger Ltd. (a) 2,000 125,880 ------------------ PAPER MILLS - 1.19% International Paper Co. (a) 2,000 77,020 ------------------ PETROLEUM REFINING - 5.58% ChevronTexaco Corp. (a) 4,000 212,240 Exxon Mobil Corp. (a) 3,000 147,660 ------------------ 359,900 ------------------ PHARMACEUTICAL PREPARATIONS - 7.84% Bristol-Myers Squibb, Inc. (a) 3,000 70,290 Johnson & Johnson (a) 2,000 116,760 Merck & Co., Inc. (a) 3,000 93,930 Pfizer, Inc. (a) 4,400 127,380 Schering-Plough Corp. 1,000 18,110 Wyeth (a) 2,000 79,300 ------------------ 505,770 ------------------
2 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED OCTOBER 31, 2004 (UNAUDITED) COMMON STOCKS - 98.30% - CONTINUED SHARES VALUE ----------- ------------------ PHOTOGRAPHIC EQUIPMENT & SUPPLIES - 0.47% Eastman Kodak, Inc. (a) 1,000 $ 30,280 ------------------ RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT - 1.95% QUALCOMM, Inc. (a) 3,000 125,430 ------------------ RETAIL - DRUG STORES & PROPRIETARY STORES - 1.80% Medco Health Solutions, Inc. (a) 241 8,172 Walgreen Co. (a) 3,000 107,670 ------------------ 115,842 ------------------ RETAIL - EATING PLACES - 1.36% McDonald's Corp. (a) 3,000 87,450 ------------------ RETAIL - LUMBER & OTHER BUILDING MATERIALS DEALERS - 2.55% Home Depot, Inc. (a) 4,000 164,320 ------------------ RETAIL - VARIETY STORES - 4.84% Target Corp. (a) 3,000 150,060 Wal-Mart Stores, Inc. (a) 3,000 161,760 ------------------ 311,820 ------------------ SECURITY BROKERS, DEALERS & FLOTATION COMPANIES - 1.82% The Charles Schwab Corp. 1,000 9,150 Merrill Lynch & Co., Inc. (a) 2,000 107,880 ------------------ 117,030 ------------------ SEMICONDUCTORS & RELATED DEVICES - 3.21% Agere Systems, Inc. - Class B (a) 264 304 Intel Corp. (a) 6,000 133,560 Texas Instruments, Inc. (a) 3,000 73,350 ------------------ 207,214 ------------------ SERVICES - MISCELLANEOUS AMUSEMENT & RECREATION - 1.56% Walt Disney Co. (a) 4,000 100,880 ------------------ SERVICES - PREPACKAGED SOFTWARE - 3.00% Microsoft Corp. (a) 6,000 167,940 Oracle Corp. (b) 2,000 25,320 ------------------ 193,260 ------------------ SOAP, DETERGENT, CLEANING PREPARATIONS, PERFUMES, COSMETICS - 2.3 Procter & Gamble, Inc. (a) 3,000 153,540 ------------------ TELEPHONE & TELEGRAPH APPARATUS - 0.05% Lucent Technologies, Inc. (b) 1,000 3,550 ------------------
3 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED OCTOBER 31, 2004 (UNAUDITED) COMMON STOCKS - 98.30% - CONTINUED SHARES VALUE ----------- ------------------ TELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE) - 3.66% AT&T Corp. (a) 3,200 $ 54,752 BellSouth Corp. (a) 3,000 80,010 SBC Communications, Inc. (a) 4,000 101,040 ------------------ 235,802 ------------------ TOTAL COMMON STOCKS (COST $6,298,057) 6,339,206 ------------------ Money Market Securities - 5.82% Federal Prime Obligation Fund, 1.61% (c) 375,265 375,265 ------------------ TOTAL MONEY MARKET SECURITIES (COST $375,265) 375,265 ------------------ TOTAL INVESTMENTS (COST $6,673,322) - 104.12% $ 6,714,471 ------------------ LIABILITIES IN EXCESS OF CASH AND OTHER ASSETS - (4.12)% (265,842) ------------------ TOTAL NET ASSETS - 100.00% $ 6,448,629 ================== (a) Portion of the security is pledged as collateral for call options written. (b) Non-income producing. (c) Variable rate security; the coupon rate shown represents the rate at October 31, 2004.
4 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED OCTOBER 31, 2004 (UNAUDITED) OPTIONS WRITTEN OCTOBER 31, 2004 SHARES SUBJECT COMMON STOCKS / EXPIRATION DATE @ EXERCISE PRICE TO CALL VALUE - ------------------------------------------------ ----------- ------------------ American Express Co./ January 2005 @ 50 2,000 $ 7,200 American Express Co./ April 2005 @ 55 1,000 1,650 American International Group, Inc. / November 2004 @ 75 1,000 50 American International Group, Inc. / February 2005 @ 75 1,000 200 Amgen, Inc. / November 2004 @ 55 1,000 2,200 Amgen, Inc. / January 2005 @ 60 1,000 1,050 American Telephone & Telegraph Co. / January 2005 @ 15 1,600 3,840 Bank of America Corp. / February 2005 @ 45 2,000 2,800 Bank of America Corp. / November 2004 @ 45 2,000 1,200 BellSouth Corp. / January 2005 @ 27.5 1,500 750 BellSouth Corp. / April 2005 @ 30 1,500 375 Boeing Co. / November 2004 @ 42.5 2,000 14,800 Boeing Co. / February 2005 @ 50 2,000 4,900 Bristol-Myers Squibb Co. / December 2004 @ 27.5 1,500 75 Bristol-Myers Squibb Co. / March 2005 @ 25 1,500 825 Caterpillar, Inc. / November 2004 @ 75 1,000 6,100 ChevronTexaco Corp. / December 2004 @ 47.5 2,000 11,200 ChevronTexaco Corp. / March 2005 @ 50 2,000 8,200 Cisco Co. / December 2004 @ 20 2,000 1,340 Cisco Co. / January 2005 @ 20 2,000 1,900 Cisco Systems, Inc. / January 2005 @ 25 2,000 100 Citigroup, Inc. / December 2004 @ 47.5 2,300 460 Citigroup, Inc. / January 2005 @ 45 1,800 2,430 Coca-Cola Co. / November 2004 @ 55 1,500 75 Coca-Cola Co. / February 2005 @ 47.5 1,500 150 Comcast Corp. Class A / April 2005 @ 30 2,300 3,795 Comcast Corp. Class A / January 2005 @ 30 1,000 1,050 Dell, Inc. / February 2005 @ 37.5 2,000 1,300 Dell, Inc. / November 2004 @ 35 2,000 1,800 Disney Co. / November 2004 @ 25 2,000 1,400 Disney Co. / January 2005 @ 25 2,000 2,200 Dow Chemical / March 2005 @ 45 1,000 2,350 Dow Chemical / December 2004 @ 40 1,000 5,100 Eastman Kodak, Inc./ January 2005 @ 27.5 1,000 3,300 Exxon Mobil Corp./ April 2005 @ 50 2,000 3,800 Exxon Mobil Corp./ January 2005 @ 47.5 1,000 2,600 FedEx Corp. / January 2005 @ 85 1,000 7,700 First Data Corp./ February 2005 @ 42.5 1,000 1,500 First Data Corp./ November 2004 @ 45 2,000 200 General Electric Co. / March 2005 @ 32.5 2,000 1,800 General Electric Co. / December 2004 @ 35 1,500 600 General Electric Co. /December 2004 @ 32.5 1,500 3,000
5 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED OCTOBER 31, 2004 (UNAUDITED) OPTIONS WRITTEN OCTOBER 31, 2004 - CONTINUED SHARES SUBJECT COMMON STOCKS / EXPIRATION DATE @ EXERCISE PRICE TO CALL VALUE - ------------------------------------------------ ----------- ------------------ General Motors Corp. / November 2004 @ 42.5 1,000 $ 50 General Motors Corp. / December 2004 @ 50 1,000 50 Gillette Co./ March 2005 @ 45 1,500 1,125 Gillette Co./ December 2004 @ 45 1,000 150 Home Depot, Inc. / February 2005 @ 37.5 2,000 9,000 Home Depot, Inc. / November 2004 @ 35 2,000 12,600 Honeywell International, Inc. / March 2005 @ 37.5 1,000 600 Honeywell International, Inc. / December 2004 @ 37.5 1,500 150 IBM Corp./ January 2005 @ 90 1,000 2,800 IBM Corp./ April 2005 @ 90 1,000 3,900 Intel Corp. / January 2005 @ 25 2,000 700 Intel Corp. / April 2005 @ 25 2,000 1,500 Intel Corp. / January 2005 @ 22.5 2,000 2,300 International Paper Co./ December 2004 @ 40 1,000 300 International Paper Co./ January 2005 @ 45 1,000 50 J.P. Morgan Chase & Co. / December 2004 @ 40 1,900 1,045 J.P. Morgan Chase & Co. / March 2005 @ 40 1,500 1,650 J.P. Morgan Chase & Co. / January 2005 @ 40 1,500 1,200 Johnson & Johnson / April 2005 @ 60 1,000 1,600 Johnson & Johnson / January 2005 @ 60 1,000 850 McDonald's Corp. / March 2005 @ 30 1,500 1,350 McDonald's Corp. / December 2004 @ 27.5 1,500 2,175 Medtronic, Inc. / February 2005 @ 50 1,000 3,000 Medtronic, Inc. / November 2004 @ 50 1,000 1,650 Merck & Co., Inc. / April 2005 @ 47.5 1,000 50 Merrill Lynch & Co., Inc. / January 2005 @ 55 1,000 1,800 Merrill Lynch & Co., Inc. / April 2005 @ 55 1,000 2,850 Microsoft Corp. / April 2005 @ 30 2,000 1,000 Microsoft Corp. / November 2004 @ 27.5 2,000 1,400 Microsoft Corp. / January 2005 @ 30 2,000 400 3M Co. / October 2004 @ 80 1,000 950 Morgan Stanley / January 2005 @ 50 1,000 3,000 Morgan Stanley / April 2005 @ 55 1,000 1,750 PepsiCo, Inc. / December 2004 @ 50 2,000 1,500 Pfizer, Inc. / January 2005 @ 32.5 2,400 720 Pfizer, Inc. / December 2004 @ 35 2,000 100 Procter & Gamble Co. / April 2005 @ 55 1,500 1,575 Procter & Gamble Co. / January 2005 @ 55 1,500 900 QUALCOMM, Inc. / November 2004 @ 42.5 1,500 1,875 QUALCOMM, Inc. / January 2005 @ 45 1,500 2,025 SBC Communications, Inc./ April 2005 @ 27.5 2,000 900 SBC Communications, Inc./ January 2005 @ 25 2,000 2,400 Schlumberger Ltd. / February 2005 @ 60 1,000 5,300 Schlumberger Ltd. / November 2004 @ 60 1,000 3,500 Target Corp. / April 2005 @ 50 1,500 4,800 Target Corp. / January 2005 @ 45 1,500 8,250
6 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED OCTOBER 31, 2004 (UNAUDITED) OPTIONS WRITTEN OCTOBER 31, 2004 - CONTINUED SHARES SUBJECT COMMON STOCKS / EXPIRATION DATE @ EXERCISE PRICE TO CALL VALUE ----------- ------------------ Texas Instruments, Inc./ April 2005 @ 25 1,500 $ 3,225 Texas Instruments, Inc./ January 2005 @ 25 1,500 2,175 Viacom, Inc. / March 2005 @ 35 1,500 4,800 Viacom, Inc. / December 2004 @ 40 1,500 300 Wal-Mart Stores, Inc. / December 2004 @ 55 1,000 850 Wal-Mart Stores, Inc. / December 2004 @ 60 2,000 100 Walgreen Co. / April 2005 @ 37.5 1,500 1,950 Walgreen Co. / January 2005 @ 37.5 1,500 975 Wells Fargo & Co. / January 2005 @ 60 1,000 1,250 Wyeth / January 2005 @ 40 1,000 1,400 ----------- ------------------ Total (premiums received $221,250) 147,300 $ 231,230 =========== ================== TAX RELATED Unrealized appreciation $ 756,524 Unrealized depreciation (725,355) ------------------ Net unrealized appreciation $ 31,169 ================== Aggregate cost of securities for income tax purposes $ 6,673,322 ==================
RELATED FOOTNOTES TO THE SCHEDULE OF INVESTMENTS Securities Valuations - Equity 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. Securities that are traded on any stock exchange are generally valued by the pricing service at the last quoted sale price. Lacking a last sale price, an exchange traded security is generally valued by the pricing service at its last bid price. Securities traded in the NASDAQ over-the-counter market are generally valued by the pricing service at the NASDAQ Official Closing Price. When market quotations are not readily available, when the Advisor determines that the market quotation or the price provided by the pricing service does not accurately reflect the current market value or when restricted or illiquid 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 of Trustees of the Trust (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, 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. Other - 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. 7 Item 2. Controls and Procedures. (a) Based on an evaluation of the registrant's disclosure controls and procedures as of December 22, 2004, the disclosure controls and procedures are reasonably designed to ensure that the information required in filings on Forms N-Q 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 quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3. Exhibits. Certifications by the registrant's principal executive officer and principal financial officer, pursuant to the Sarbanes- Oxley Act of 2002 and required by Rule 30a-2a under the Investment Company Act of 1940 are 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/ Anthony J. Ghoston_________________________ Anthony J. Ghoston, President Date___December 23, 2004____________________________ 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/ Anthony J. Ghoston_____________________________ Anthony J. Ghoston, President Date_____December 23, 2004______________________________ By *___/s/ Thomas G. Napurano_ ____________________________ Thomas G. Napurano, Chief Financial Officer and Treasurer Date____December 23, 2004_________________________________ .. EX-99.CERT 2 ex99certs.txt FORM N-Q CERTIFICATION I, Anthony J. Ghoston, certify that: 1. I have reviewed this report on Form N-Q 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 schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 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; and (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 quarter 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: _December 23, 2004_ __/s/ Anthony J. Ghoston__________________ Anthony J. Ghoston, President FORM N-Q CERTIFICATION I, Thomas Napurano, certify that: 1. I have reviewed this report on Form N-Q 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 schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 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; and (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 quarter 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: December 23, 2004______ _/s/ Thomas G. Napurano___________________ Thomas G. Napurano, Chief Financial Officer and Treasurer -----END PRIVACY-ENHANCED MESSAGE-----