-----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, HMpQqsnuPYbrG9V9YuTluYkLzh5nNLZuLYcjWuAHDfUy6UUdBLV9WSSL8jav03kQ JrTV2lCod1kjj/O2jCLs9A== 0001035449-05-000383.txt : 20050623 0001035449-05-000383.hdr.sgml : 20050623 20050623100548 ACCESSION NUMBER: 0001035449-05-000383 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050430 FILED AS OF DATE: 20050623 DATE AS OF CHANGE: 20050623 EFFECTIVENESS DATE: 20050623 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: 05911491 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 dobson043005.txt 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) 431 North Pennsylvania Street, Indianapolis, IN 46204 (Address of principal executive offices) (Zip code) Terry Gallagher Unified Fund Services, Inc. 431 North Pennsylvania Street 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: 04/30/05 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. File the schedules as of the close of the reporting period as set forth in ss.ss. 210.12-12 - 12-14 of Regulation S-X [17 CFR 210.12-12 - 12-14]. The schedules need not be audited. Item 2. Controls and Procedures. (a) Disclose the conclusions of the registrant's principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a- 3(b)) and Rule 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)). (b) Disclose any change in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that has materially affected, or is 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. DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS APRIL 30, 2005 (UNAUDITED) COMMON STOCKS - 99.87% SHARES VALUE -------------- --------------------- AIR COURIER SERVICES - 1.34% FedEx Corp. (a) 1,000 $ 84,950 --------------------- AIRCRAFT - 2.82% Boeing Co. (a) 3,000 178,560 --------------------- BEVERAGES - 3.82% Coca-Cola Co. (a) 3,000 130,320 PepsiCo, Inc. (a) 2,000 111,280 --------------------- 241,600 --------------------- BIOLOGICAL PRODUCTS - 1.84% Amgen, Inc. (a) (b) 2,000 116,420 --------------------- CABLE & OTHER PAY TELEVISION SERVICES - 3.33% Comcast Corp. Class A (a) (b) 3,323 106,702 Viacom, Inc. - Class B (a) 3,000 103,860 --------------------- 210,562 --------------------- CHEMICAL & ALLIED PRODUCTS - 1.45% Dow Chemical Co. (a) 2,000 91,860 --------------------- COMPUTER COMMUNICATION EQUIPMENT - 1.64% Cisco Systems, Inc. (a) (b) 6,000 103,680 --------------------- COMPUTERS & OFFICE EQUIPMENT - 2.41% International Business Machines Corp. (a) 2,000 152,760 --------------------- CONSTRUCTION MACHINERY & EQUIPMENT - 1.39% Caterpillar, Inc. (a) 1,000 88,050 --------------------- CONVERTED PAPER & PAPERBOARD PRODUCTS - 1.21% 3M Co. (a) 1,000 76,470 --------------------- CUTLERY, HANDTOOLS & GENERAL HARDWARE - 1.96% The Gillette Co. (a) 2,400 123,936 --------------------- DIVERSIFIED - 0.84% Honeywell International, Inc. (a) 1,500 53,640 --------------------- ELECTRIC SERVICES - 3.16% Dominion Resources, Inc. 1,000 75,400 Duke Energy, Inc. 2,000 58,380 The Southern Co. 2,000 65,900 --------------------- 199,680 --------------------- ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS - 1.67% Medtronic, Inc. (a) 2,000 105,400 --------------------- See accompanying related notes which are an integral part of this financial statement. 1 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS -CONTINUED APRIL 30, 2005 (UNAUDITED) COMMON STOCKS - 99.87% - CONTINUED SHARES VALUE -------------- --------------------- ELECTRONIC & OTHER ELECTRICAL EQUIPMENT - 2.86% General Electric Co. (a) 5,000 $ 181,000 --------------------- ELECTRONIC COMPUTERS - 2.20% Dell, Inc. (a) (b) 4,000 139,320 --------------------- FINANCE SERVICES - 5.97% American Express Co. (a) 3,000 158,100 First Data Corp. (a) 3,000 114,090 Morgan Stanley (a) 2,000 105,240 --------------------- 377,430 --------------------- FIRE, MARINE & CASUALTY INSURANCE - 1.61% American International Group, Inc. (a) 2,000 101,700 --------------------- MOTOR VEHICLES & PASSENGER CAR BODIES - 0.99% Ford Motor Co. 1,000 9,110 General Motors Corp. (a) 2,000 53,360 --------------------- 62,470 --------------------- NATIONAL COMMERCIAL BANKS - 11.55% Bank of America Corp. (a) 4,000 180,160 Citigroup, Inc. (a) 4,133 194,086 J.P. Morgan Chase & Co.(a) 4,980 176,740 Wells Fargo & Co. (a) 3,000 179,820 --------------------- 730,806 --------------------- OIL & GAS FIELD SERVICES - 2.16% Schlumberger Ltd. (a) 2,000 136,820 --------------------- PAPER MILLS - 1.08% International Paper Co. (a) 2,000 68,580 --------------------- PETROLEUM REFINING - 5.99% ChevronTexaco Corp. (a) 4,000 208,000 Exxon Mobil Corp. (a) 3,000 171,090 --------------------- 379,090 --------------------- PHARMACEUTICAL PREPARATIONS - 8.65% Bristol-Myers Squibb, Inc. (a) 3,000 78,000 Johnson & Johnson (a) 2,000 137,260 Merck & Co., Inc. (a) 3,000 101,700 Pfizer, Inc. (a) 4,400 119,548 Schering-Plough Corp. 1,000 20,870 Wyeth (a) 2,000 89,880 --------------------- 547,258 --------------------- See accompanying related notes which are an integral part of this financial statement. 2 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED APRIL 30, 2005 (UNAUDITED) COMMON STOCKS - 99.87% - CONTINUED SHARES VALUE -------------- --------------------- PHOTOGRAPHIC EQUIPMENT & SUPPLIES - 0.40% Eastman Kodak, Inc. (a) 1,000 $ 25,000 --------------------- RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT - 1.65% QUALCOMM, Inc. (a) 3,000 104,670 --------------------- RETAIL - DRUG STORES & PROPRIETARY STORES - 2.24% Medco Health Solutions, Inc. (b) 241 12,284 Walgreen Co. (a) 3,000 129,180 --------------------- 141,464 --------------------- RETAIL - EATING PLACES - 1.39% McDonald's Corp. (a) 3,000 87,930 --------------------- RETAIL - LUMBER & OTHER BUILDING MATERIALS DEALERS - 2.24% Home Depot, Inc. (a) 4,000 141,480 --------------------- RETAIL - VARIETY STORES - 4.44% Target Corp. (a) 3,000 139,200 Wal-Mart Stores, Inc. (a) 3,000 141,420 --------------------- 280,620 --------------------- SECURITY BROKERS, DEALERS & FLOTATION COMPANIES - 1.87% The Charles Schwab Corp. 1,000 10,350 Merrill Lynch & Co., Inc. (a) 2,000 107,860 --------------------- 118,210 --------------------- SEMICONDUCTORS & RELATED DEVICES - 3.42% Agere Systems, Inc. - Class B (b) 264 311 Intel Corp. (a) 6,000 141,120 Texas Instruments, Inc. (a) 3,000 74,880 --------------------- 216,311 --------------------- SERVICES - MISCELLANEOUS AMUSEMENT & RECREATION - 1.67% Walt Disney Co. (a) 4,000 105,600 --------------------- SERVICES - PREPACKAGED SOFTWARE - 2.76% Microsoft Corp. (a) 6,000 151,800 Oracle Corp. (b) 2,000 23,120 --------------------- 174,920 --------------------- SOAP, DETERGENT, CLEANING PREPARATIONS, PERFUMES, COSMETICS - 2.57% Procter & Gamble, Inc. (a) 3,000 162,450 --------------------- TELEPHONE & TELEGRAPH APPARATUS - 0.04% Lucent Technologies, Inc. (b) 1,000 2,430 --------------------- See accompanying related notes which are an integral part of this financial statement. 3 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED APRIL 30, 2005 (UNAUDITED) COMMON STOCKS - 99.87% - CONTINUED SHARES VALUE -------------- --------------------- TELEPHONE COMMUNICATIONS - 3.24% AT&T Corp. 1,600 $ 30,608 BellSouth Corp. (a) 3,000 79,470 SBC Communications, Inc. (a) 4,000 95,200 --------------------- 205,278 --------------------- TOTAL COMMON STOCKS (COST $6,207,750) 6,318,405 --------------------- WARRANT SECURITIES - 0.00% Lucent Technologies, 12/10/07 443 213 --------------------- TOTAL WARRANT SECURITIES (COST $0) 213 --------------------- MONEY MARKET SECURITIES - 1.54% Federal Prime Obligation Fund, 2.70% (c) 97,319 97,319 --------------------- TOTAL MONEY MARKET SECURITIES (COST $97,319) 97,319 --------------------- TOTAL INVESTMENTS (COST $6,305,069) - 101.41% $ 6,415,937 --------------------- LIABILITIES IN EXCESS OF CASH AND OTHER ASSETS - (1.41)% (89,301) --------------------- TOTAL NET ASSETS - 100.00% $ 6,326,636 ===================== (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 April 30, 2005. See accompanying related notes which are an integral part of this financial statement. 4 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED APRIL 30, 2005 (UNAUDITED) OPTIONS WRITTEN JANUARY 31, 2005 SHARES SUBJECT COMMON STOCKS / EXPIRATION DATE @ EXERCISE PRICE TO CALL VALUE -------------- --------------------- American Express Co. / July 2005 @ $55 1,000 $ 1,100 American Express Co. / July 2005 @ $60 2,000 300 American International Group, Inc. / May 2005 @ $65 1,000 100 American International Group, Inc. / August 2005 @ $75 1,000 50 Amgen, Inc. / May 2005 @ $60 1,000 400 Amgen, Inc. / July 2005 @ $65 1,000 400 Bank of America Corp. / May 2005 @ $45 2,000 1,300 Bank of America Corp. / August 2005 @ $47.50 2,000 900 BellSouth Corp. / June 2005 @ $25 1,500 2,700 BellSouth Corp. / July 2005 @ $27.50 1,500 600 Boeing Co. / May 2005 @ $55 1,500 6,750 Boeing Co. / August 2005 @ $55 1,500 8,850 Bristol-Myers Squibb Co. / June 2005 @ $27.50 1,500 225 Bristol-Myers Squibb Co. / September 2005 @ $25 1,500 2,850 Caterpillar, Inc. / May 2005 @ $95 1,000 300 ChevronTexaco Corp. / June 2005 @ $55 2,000 1,300 ChevronTexaco Corp. / September 2005 @ $60 2,000 1,300 Cisco Systems, Inc. / June 2005 @ $17.50 2,000 1,200 Cisco Systems, Inc. / July 2005 @ $20 2,000 200 Citigroup, Inc. / September 2005 @ $47.50 2,300 4,140 Citigroup, Inc. / June 2005 @ $50 1,800 288 Coca-Cola Co. / August 2005 @ $45 1,500 1,125 Coca-Cola Co. / May 2005 @ $42.50 1,500 1,725 Comcast Corp. Class A / October 2005 @ $35 1,500 1,125 Comcast Corp. Class A / July 2005 @ $35 1,000 150 Dell, Inc. / August 2005 @ $42.50 2,000 200 Dell, Inc. / May 2005 @ $42 2,000 100 Dow Chemical / September 2005 @ $55 1,000 650 Dow Chemical / June 2005 @ $50 1,000 650 Eastman Kodak, Inc. / October 2005 @ $32.50 1,000 250 Exxon Mobil Corp. / July 2005 @ $55 1,000 3,500 Exxon Mobil Corp. / October 2005 @ $60 1,500 3,600 FedEx Corp. / July 2005 @ $85 1,000 3,800 First Data Corp. / August 2005 @ $42.50 1,000 450 First Data Corp. / May 2005 @ $45 2,000 100 General Electric Co. / September 2005 @ $37.50 2,000 2,000 General Electric Co. / June 2005 @ $35 1,500 2,475 General Electric Co. / June 2005 @ $37.50 1,500 525 See accompanying related notes which are an integral part of this financial statement. 5 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED APRIL 30, 2004 (UNAUDITED) OPTIONS WRITTEN JANUARY 31, 2005 - CONTINUED SHARES SUBJECT COMMON STOCKS / EXPIRATION DATE @ EXERCISE PRICE TO CALL VALUE -------------- --------------------- General Motors Corp. / June 2005 @ $30 1,000 $ 450 General Motors Corp. / June 2005 @ $40 1,000 50 Gillette Co. / June 2005 @ $50 2,400 5,280 Home Depot, Inc. / May 2005 @ $45 2,000 100 Home Depot, Inc. / August 2005 @ $42.50 2,000 200 Honeywell International, Inc. / June 2005 @ $37.50 1,500 675 Intel Corp. / July 2005 @ $25 2,000 800 Intel Corp. / October 2005 @ $25 2,000 2,100 Intel Corp. / May 2005 @ $22.50 2,000 2,200 IBM Corp. / July 2005 @ $95 1,000 150 International Paper Co. / October 2005 @ $37.50 1,000 1,050 Johnson & Johnson / July 2005 @ $65 1,000 3,900 Johnson & Johnson / October 2005 @ $70 1,000 2,250 J.P. Morgan Chase & Co. / September 2005 @ $37.50 1,500 1,125 J.P. Morgan Chase & Co. / May 2005 @ $35 1,500 1,350 J.P. Morgan Chase & Co. / June 2005 @ $40 1,900 95 McDonald's Corp. / June 2005 @ $32.50 1,500 150 McDonald's Corp. / September 2005 @ $32.50 1,500 600 Medtronic, Inc. / May 2005 @ $50 1,000 2,900 Medtronic, Inc. / August 2005 @ $55 1,000 1,100 Merck & Co., Inc. / July 2005 @ $35 1,500 1,275 Merck & Co., Inc. / October 2005 @ $37.50 1,500 1,050 Merrill Lynch & Co., Inc. / May 2005 @ $55 1,000 750 Merrill Lynch & Co., Inc. / July 2005 @ $60 1,000 450 Microsoft Corp. / July 2005 @ $25 2,000 1,800 3M Co. / July 2005 @ $85 1,000 350 Morgan Stanley / May 2005 @ $55 1,000 1,250 Morgan Stanley / July 2005 @ $60 1,000 1,050 PepsiCo, Inc. / July 2005 @ $55 2,000 3,700 Pfizer, Inc. / June 2005 @ $27.50 2,000 1,100 Pfizer, Inc. / September 2005 @ $27.50 2,400 2,880 Procter & Gamble Co. / July 2005 @ $60 1,500 225 Procter & Gamble Co. / October 2005 @ $55 1,500 3,075 QUALCOMM, Inc. / July 2005 @ $40 1,500 450 QUALCOMM, Inc. / October 2005 @ $37.50 1,500 3,000 SBC Communications, Inc. / July 2005 @ $25 2,000 520 SBC Communications, Inc. / June 2005 @ $22.50 2,000 2,900 Schlumberger Ltd. / May 2005 @ $70 1,000 1,100 Schlumberger Ltd. / May 2005 @ $75 1,000 150 Target Corp. / July 2005 @ $50 1,500 1,125 Target Corp. / October 2005 @ $50 1,500 2,625 See accompanying related notes which are an integral part of this financial statement. 6 DOBSON COVERED CALL FUND SCHEDULE OF INVESTMENTS - CONTINUED APRIL 30, 2005 (UNAUDITED) OPTIONS WRITTEN JANUARY 31, 2005 - CONTINUED SHARES SUBJECT COMMON STOCKS / EXPIRATION DATE @ EXERCISE PRICE TO CALL VALUE -------------- --------------------- Texas Instruments, Inc. / October 2005 @ $25 1,500 $ 3,225 Texas Instruments, Inc. / July 2005 @ $27.50 1,500 600 Viacom, Inc. / June 2005 @ $37.50 1,500 525 Viacom, Inc. / September 2005 @ $37.50 1,500 1,500 Walgreen Co. / July 2005 @ $45 1,500 1,350 Walgreen Co. / October 2005 @ $42.50 1,500 4,200 Wal-Mart Stores, Inc. / June 2005 @ $55 1,500 150 Wal-Mart Stores, Inc. / September 2005 @ $55 1,500 375 Walt Disney Co. / October 2005 @ $30 2,000 900 Walt Disney Co. / July 2005 @ $27.50 2,000 1,000 Wells Fargo & Co. / July 2005 @ $60 1,000 1,350 Wells Fargo & Co. / May 2005 @ $60 1,500 825 Wyeth / October 2005 @ $45 1,000 2,800 Wyeth / July 2005 @ $45 1,000 1,700 -------------- --------------------- Total (premiums received $203,624) 138,800 $ 135,528 ============== ===================== TAX RELATED Unrealized appreciation $ 887,522 Unrealized depreciation (708,558) --------------------- Net unrealized appreciation $ 178,964 ===================== Aggregate cost of securities for income tax purposes, net of proceeds received for call options written. $ 6,101,445 ===================== See accompanying related notes which are an integral part of this financial statement. 7
DOBSON COVERED CALL FUND RELATED FOOTNOTES TO THE SCHEDULE OF INVESTMENTS APRIL 30, 2005 (UNAUDITED) 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 cot method of valuation, which the Board has determined will represent fair value. Option writing - When the Fund writes an option, an amount equal to the premium received by the Fund is recorded as a liability and is subsequently adjusted to the current market value of the option written. Premiums received from writing options that expire unexercised are treated by the Fund on the expiration date as realized gains from investments. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security or currency in determining whether the Fund has realized a gain or loss. The Fund as writer of an option bears the market risk of an unfavorable change in the price of the security underlying the written option. 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 purchased are amortized over the respective securities. FORM N-Q 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. Unified Series Trust By ____/s/ Anthony J. Ghoston____________________________________ Anthony J. Ghoston, President Date___June 21, 2005_______________________________________________ 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_____June 21, 2005___________________________________________ By ______/s/ Thomas Napurano_______________________________________ Thomas Napurano, Chief Financial Officer and Treasurer Date____June 22, 2005_______________________________________________ EX-99.CERT 2 ex99certs.txt FORM N-Q CERTIFICATION I, Anthony 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: __June 21, 2005______ /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: ___June 22, 2005__________________ /s/ Thomas Napurano___________________ Thomas Napurano Chief Financial Officer and Treasurer -----END PRIVACY-ENHANCED MESSAGE-----