10-Q 1 g09432e10vq.htm ALPHA PETROLEUM EXPLORATION CORPORATION ALPHA PETROLEUM EXPLORATION CORPORATION
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-Q
     
þ   ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
For the quarterly period ended June 30, 2007.
OR
     
o   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)
Commission file number 0-9563
ALPHA PETROLEUM EXPLORATION CORPORATION
 
(Exact Name of Registrant as Specified in Its Charter)
     
New York   23-2090563
     
(State or Other Jurisdiction of
Incorporation or Organization) 		  (IRS Employer I.D. No.)
1211 North Westshore Blvd., Suite 511, Tampa, FL 33607
Address of Principal Executive Offices Including Zip Code
Registrant’s telephone number including area code: (813) 289-0500
Securities registered pursuant to Section 12(b) of the Exchange Act: None.
Securities registered pursuant to Section 12(g) of the Exchange Act: Common Stock.
     Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the 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. Yes o No þ
     Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer o Accelerated filer o Non-accelerated filer þ
     Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes þ No o
     As of June 30, 2007, 1,399,912 shares of Common Stock, $0.01 par value, were outstanding.
 
 

 

TABLE OF CONTENTS

PART ONE
ITEM 1. FINANCIAL STATEMENTS.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
PART TWO
ITEM 1. LEGAL PROCEEDINGS.
ITEM 2. CHANGES IN SECURITIES.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
ITEM 5. OTHER INFORMATION.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
SIGNATURES
EX-31.1 SECTION 302 CERTIFICATION OF THE CEO&CFO
EX-32.1 SECTION 906 CERTIFICATION OF THE CEO&CFO

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PART ONE
FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS.
     Reference is made to the quarterly Financial Statements attached hereto.
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
     Results of Operations
As the Company has been inactive since 1988, the Company has had no revenue or any other type of income since 1988. Similarly, the Company has had minimal general and administrative expenses since 1988. During the quarter ended December 31, 2006, the Company engaged in virtually no business activity.
Liquidity and Capital Resources
There are no known trends or known demands, commitments, events or uncertainties that will result in or that are reasonably likely to result in the Company’s liquidity increasing or decreasing in any material way.
The Company does not have any material commitments for capital expenditures.

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PART TWO
OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS.
     None.
ITEM 2. CHANGES IN SECURITIES.
     None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
     None.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
     None.
ITEM 5. OTHER INFORMATION.
     None.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
     (a) Financial Statements: Attached hereto
     (b) Reports on Form 8-K: None
     31.1 Certification pursuant to Rule 13a-14(a)
     32.1 Certification pursuant to 18 U.S.C. §1350

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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
         
  ALPHA PETROLEUM EXPLORATION
CORPORATION
 		  
  By:   /s/ Roland M. Jermyn, Jr.    
    Roland M. Jermyn, Jr., President   
       
 
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Company in the capacities and on the dates so indicated.
         
     
/s/ Roland M. Jermyn, Jr.    September 1, 2007. 
Roland M. Jermyn, Jr., Director     
Principal Executive Officer, and Principal Financial Officer     
 

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ALPHA PETROLEUM EXPLORATION CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
                 
    9 months ended
    30-Jun-07   30-Jun-06
 
Cash flows from operating activities
                
 
                
Net loss
   $ (14,702 )   $ (177 )
 
Adjustments to reconcile net loss to net cash provided by operating activities
                
Changes in operating assets and liabilities
                
Accounts payable
     14,500       —  
Increase in interest payable
     —       —  
Increase in tax liability
     202       177  
     
 
                
Net cash used in operating activities
     —       —  
 
                
Cash flows from financing activities
               
Loan from shareholders
     —       —  
     
 
                
Net cash provided by financing activities
     —       —  
     
 
                
Net increase in cash
     —       —  
Cash, beginning of period
     1,100       1,100  
     
Cash, end of period
   $ 1,100     $ 1,100  
     
 
                
Supplemental disclosures of cash flow information
                
 
                
Cash paid during the periods for
                
Interest
   $ —     $ —  
     
Taxes
   $ —     $ —  
     

 

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ALPHA PETROLEUM EXPLORATION CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
                                 
    9 months ended   Three months ended
    30-Jun-07   30-Jun-06   30-Jun-07   30-Jun-06
Revenue
   $ —     $ —     $ —     $ —  
 
General and administrative expenses
     14,500       —       14,500          
         
Loss from Operations
     (14,500 )     —       (14,500 )     —  
 
Other income (expense)
                               
Interest Expense
                                
Tax interest and penalties
     (202 )     (177 )     (32 )     (28 )
         
 
     (202 )     (177 )     (32 )     (28 )
         
NET LOSS
   $ (14,702 )   $ (177 )   $ (14,532 )   $ (28 )
         
 
                                
Weighted average number of shares outstanding
     1,399,912       1,399,912       1,399,912       1,399,912  
         
 
Loss per share
   $ (0.01 )   $ (0.00 )   $ (0.01 )   $ (0.00 )
         

 

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ALPHA PETROLEUM EXPLORATION CORPORATION
CONSOLIDATED BALANCE SHEETS
June 30, 2007
(UNAUDITED)
         
ASSETS
        
Current Assets
        
Cash
   $ 1,100  
 
      
Total Current Assets
     1,100  
 
        
 
      
 
   $ 1,100  
 
      
 
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY
        
Current Liabilities
        
Accounts Payable
   $ 44,576  
New York State Tax Liability
     1,082  
 
      
Total Current Liabilities
     45,658  
 
        
Stockholders’ Deficiency
        
Common stock, par value $.01 authorized, 40,000,000 shares; issued and outstanding, 1,399,912 shares
     13,999  
Additional paid-in-capital
     7,190,116  
Accumulated deficit
     (7,248,673 )
 
      
 
     (44,558 )
 
      
 
   $ 1,100