PINX:AEHI Alternate Energy Holdings, Inc. Quarterly Report 10-Q Filing - 3/31/2012

Effective Date 3/31/2012

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• FORM 10-Q • EXHIBIT 31.1 • EXHIBIT 31.2 • EXHIBIT 32 • XBRL INSTANCE • XBRL TAXONOMY EXTENSION SCHEMA • XBRL TAXONOMY EXTENSION CALCULATION • XBRL TAXONOMY EXTENSION DEFINITION • XBRL TAXONOMY EXTENSION LABELS • XBRL TAXONOMY EXTENSION PRESENTATION

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2012

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission file number: 000-53451

ALTERNATE ENERGY HOLDINGS, INC.

(Exact name of Registrant as specified in its charter)

	Nevada	20-5689191
	(State or other jurisdiction of	(I.R.S. Employer
	incorporation or organization)	Identification No.)

	911 E. Winding Creek Dr., Suite 150, Eagle, Idaho	83616
	(Address of principal executive offices)	(Zip Code)

(208) 939-9311

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ý No o

Indicate by check mark whether the registrant has submitted electronically and where posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ý No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one)

Large Accelerated Filer o Accelerated Filer o

Non- Accelerated Filer o Smaller reporting company ý

(Do not check if a smaller reporting company)

Indicate by checkmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yeso No ý

As of May 15, 2012, there were 326,562,791 shares of common stock, $0.001 par value per share, outstanding.

ALTERNATE ENERGY HOLDINGS, INC.

TABLE OF CONTENTS

		Page No.
PART I - FINANCIAL INFORMATION

Item 1.	Condensed Consolidated Financial Statements.	3
Item 2.	Management’s Discussion and Analysis of Financial Condition And Results of Operations.	19
Item 3.	Quantitative and Qualitative Disclosures About Market Risk.	23
Item 4.	Controls And Procedures.	24

PART II - OTHER INFORMATION
Item 1.	Legal Proceedings.	24

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	25
Item 3.	Defaults Upon Senior Securities.	25
Item 4.	Mine Safety Disclosures - Not Applicable	25
Item 5.	Other Information.	25
Item 6.	Exhibits.	25
SIGNATURES		26

the terms “we”, “us”, “our”, “Company” , “AEHI” and “Alternate Energy Holdings” refer to Alternate Energy Holdings, Inc. and our wholly owned subsidiaries.

- 2 -

PART I - FINANCIAL INFORMATION

ALTERNATE ENERGY HOLDINGS, INC.

(A Development Stage Company)

CONSOLIDATED BALANCE SHEETS

MARCH 31, 2012 (Unaudited) AND DECEMBER 31, 2011

ASSETS	March 31, 2012 Unaudited			December 31 2011
CURRENT ASSETS:
Cash and Cash Equivalents	$	571,078		$	268,691
Cash - Escrow		2,565,000			2,018,500
Prepaid Expenses		-			5,604
Short-Term Investments		-			1,540,655

Total Current Assets		3,136,078			3,833,450

PROPERTY AND EQUIPMENT - Net		57,789			61,099

OTHER ASSET
Payette County - Site Work		8,718			-

Total Other Asset		8,718			-


TOTAL ASSETS	$	3,202,585		$	3,894,549


LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
Accounts Payable	$	78,333		$	102,782
Due to Related Party		46,000			-

Total Current Liabilities		124,333			102,782

STOCKHOLDERS' EQUITY:
Common Stock, par value $.001, 500,000,000 shares authorized; 326,562,791 issued and 326,162,791 outstanding and 325,962,791 issued and 325,562,791 outstanding, respectively		326,563			325,963
Additional Paid in Capital		27,285,303			27,255,903
Accumulated Other Comprehensive Income(Loss)		1,303			(102,439	)
Treasury Stock (400,000 shares at cost)		(20,000	)		(20,000	)
Deficit Accumulated During Development Stage		(24,514,917	)		(23,667,660	)

Total Stockholders' Equity		3,078,252			3,791,767

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	3,202,585		$	3,894,549

The accompanying notes are an integral part of these consolidated financial statements.

- 3 -

ALTERNATE ENERGY HOLDINGS, INC.

(A Development Stage Company)

CONSOLIDATED COMPREHENSIVE LOSS STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2012 AND 2011

AND THE PERIOD FROM INCEPTION (AUGUST 29, 2005) THROUGH MARCH 31, 2012 (Unaudited)

	Three Months March 31 2012			Three Months March 31 2011			Inception to March 31 2012

REVENUES	$	-		$	169,000		$	923,650

COST OF SALES		-			161,588			929,237

GROSS PROFIT		-			7,412			(5,587	)

OPERATING EXPENSES:
General and Administrative Expenses		665,788			660,656			25,342,026

NET LOSS FROM OPERATIONS		(665,788	)		(653,244	)		(25,347,613	)

OTHER INCOME (EXPENSE)
Investment Income		24,844			77,249			466,461
Miscellaneous Income		-			-			9,186
Loss on Sales of Investments		(206,313	)		(90,985	)		(500,498	)
Impairment on Deposit		-			-			(100,000	)
Impairment on Asset Held for Sale		-			-			(38,419	)
Interest Expense		-			(41	)		(4,034	)
Total Other Income (Expense)		(181,469	)		(13,777	)		(167,304	)

Loss before Non-Controlling Interest in Variable Interest Entity		(847,257	)		(667,021	)		(25,514,917	)

Non-Controlling Interest in Variable Interest Entity		-			-			1,000,000

Net Loss Before Income Tax		(847,257	)		(667,021	)		(24,514,917	)

Income Tax Expense		-			-			-

NET LOSS	$	(847,257	)	$	(667,021	)	$	(24,514,917	)

OTHER COMPREHENSIVE INCOME, NET OF TAX
Unrealized Holding Gain Arising During the Period		103,742			44,743

COMPREHENSIVE LOSS	$	(743,515	)	$	(622,278	)



Earning Per Share:
Basic and Diluted Net Loss per Common Stock	$	(0.00	)	$	(0.00	)

WEIGHTED AVERAGE SHARES OUTSTANDING		326,436,791			325,087,791

The accompanying notes are an integral part of these consolidated financial statements.

- 4 -

ALTERNATE ENERGY HOLDINGS, INC.

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

AND THE PERIOD FROM INCEPTION (AUGUST 29, 2005) THROUGH MARCH 31, 2012 (Unaudited)

2005	Price per Share		Number of Common Shares Issued		Common Stock		Additional Paid in Capital			Treasury Stock			Accumulated Other Comprehensive Income		Net Loss			Total
Founder Shares issued August 29, 2005		-		14,800,000	$	14,800	$	(14,800	)	$	-		$	-	$	-		$	-
Issuance of Common Stock for Services
October		0.0176		3,249,999		3,250		54,250			-			-		-			57,500
Amortization of common stock for services
October				-		-		8,750			-			-		-			8,750
November				-		-		8,750			-			-		-			8,750
December				-		-		8,750			-			-		-			8,750
Issuance of Common Stock for Payables:
September		0.0417		600,000		600		24,400			-			-		-			25,000
November		0.0500		300,000		300		14,700			-			-		-			15,000
Net Loss				-		-		-			-			-		(100,692	)		(100,692	)
Balances, December 31, 2005				18,949,999		18,950		104,800			-			-		(100,692	)		23,058
2006
Nussential Holdings Inc. shareholders prior to merger		-		4,252,088		4,252		(4,252	)		-			-		-			-
Issuance of Common Stock for Services
September		1.0077		1,149,999		1,150		1,157,599			-			-		-			1,158,749
November		0.9000		100,000		100		89,900			-			-		-			90,000
Amortization of common stock for services
January				-		-		8,750			-			-		-			8,750
February				-		-		8,750			-			-		-			8,750
March				-		-		8,750			-			-		-			8,750
April				-		-		8,750			-			-		-			8,750
May				-		-		8,750			-			-		-			8,750
June				-		-		8,750			-			-		-			8,750
July				-		-		8,750			-			-		-			8,750
August				-		-		8,750			-			-		-			8,750
Issuance of Common Stock for Cash
March		0.0500		1,000,000		1,000		49,000			-			-		-			50,000
May		0.0500		400,000		400		19,600			-			-		-			20,000
June		0.0500		100,000		100		4,900			-			-		-			5,000
October		0.6465		273,000		273		176,227			-			-		-			176,500
November		0.3333		116,000		116		38,550			-			-		-			38,666
December		0.4244		75,000		75		31,758			-			-		-			31,833
Purchase of Treasury Stock				-		-		-			(20,000	)		-		-			(20,000	)
Net Loss				-		-		-			-			-		(1,394,711	)		(1,394,711	)
Balances, December 31, 2006				26,416,086		26,416		1,738,082			(20,000	)		-		(1,495,403	)		249,095
2007
Issuance of Common Stock for Services
February		0.5000		920,000		920		459,080			-			-		-			460,000
March		0.5000		300,000		300		149,700			-			-		-			150,000
April		0.2500		100,000		100		24,900			-			-		-			25,000
June		0.2500		550,000		550		136,950			-			-		-			137,500
August		0.4000		531,552		532		212,089			-			-		-			212,621
September		0.1055		4,583,200		4,583		478,697			-			-		-			483,280
October		0.4000		366,400		366		146,194			-			-		-			146,560
November		0.1453		457,000		457		65,943			-			-		-			66,400
December		0.1000		57,500		58		5,692			-			-		-			5,750
Issuance of Common Stock for Cash
January		0.5300		23,000		23		12,227			-			-		-			12,250
February		0.5000		55,000		55		27,445			-			-		-			27,500
March		0.5000		10,000		10		4,990			-			-		-			5,000
April		0.4000		25,000		25		9,975			-			-		-			10,000
May		0.2500		206,000		206		51,294			-			-		-			51,500
June		0.2389		180,000		180		42,820			-			-		-			43,000
July		0.2500		2,591,000		2,591		645,159			-			-		-			647,750
August		0.2494		2,521,036		2,521		626,238			-			-		-			628,759
September		0.2500		64,000		64		15,936			-			-		-			16,000
October		0.2500		20,000		20		4,980			-			-		-			5,000
November		0.2000		287,500		287		57,213			-			-		-			57,500
December		0.1000		2,451,000		2,451		242,649			-			-		-			245,100
Net Loss				-		-		-			-			-		(3,394,200	)		(3,394,200	)
Balances, December 31, 2007				42,715,274	$	42,715	$	5,158,253		$	(20,000	)	$	-	$	(4,889,603	)	$	291,365

The accompanying notes are an integral part of these consolidated financial statements.

- 5 -

ALTERNATE ENERGY HOLDINGS, INC.

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

AND THE PERIOD FROM INCEPTION (AUGUST 29, 2005) THROUGH MARCH 31, 2012 (Unaudited)

2008	Price per Share		Number of Common Shares Issued		Common Stock		Additional Paid in Capital		Treasury Stock			Accumulated Other Comprehensive Income		Net Loss			Total
Issuance of Common Stock for Services
January		0.1000		1,312,250		1,312		129,913		-			-		-			131,225
February		0.1000		70,000		70		6,930		-			-		-			7,000
March		0.1000		183,250		183		18,142		-			-		-			18,325
April		0.1000		20,000		20		1,980		-			-		-			2,000
May		0.1000		14,556,875		14,557		1,441,131		-			-		-			1,455,688
June		0.1000		4,365,342		4,365		432,169		-			-		-			436,534
July		0.2000		798,625		798		158,927		-			-		-			159,725
August		0.2000		71,500		72		14,228		-			-		-			14,300
September		0.2000		25,430		25		5,061		-			-		-			5,086
October		0.2000		207,147		207		41,222		-			-		-			41,429
November		0.2000		10,853		11		2,160		-			-					2,171
December		0.1000		3,140,777		3,141		310,934		-			-					314,075
Issuance of Common Stock for Cash
January		0.1000		7,720,000		7,720		764,280		-			-		-			772,000
February		0.1000		1,120,750		1,121		110,954		-			-		-			112,075
March		0.1000		225,000		225		22,275		-			-		-			22,500
April		0.1000		250,000		250		24,750		-			-		-			25,000
May		0.1000		50,000		50		4,950		-			-		-			5,000
June		0.1000		576,000		576		57,024		-			-		-			57,600
July		0.1021		307,301		308		31,072		-			-		-			31,380
August		0.1549		182,000		182		28,018		-			-		-			28,200
September		0.2609		153,666		154		39,946		-			-		-			40,100
December		0.1000		125,000		125		12,375		-			-		-			12,500
Net Loss				-		-		-		-			-		(3,820,601	)		(3,820,601	)
Balances, December 31, 2008				78,187,040		78,187		8,816,694		(20,000	)		-		(8,710,204	)		164,677
2009
Issuance of Common Stock for Services
January		0.1000		395,290		395		39,134		-			-		-			39,529
March		0.0500		138,065		138		6,765		-			-		-			6,903
April		0.0500		18,425,000		18,425		902,825		-			-		-			921,250
May		0.0500		945,400		945		46,325		-			-		-			47,270
June		0.0500		718,500		719		35,206		-			-		-			35,925
July		0.0500		755,000		755		36,995		-			-		-			37,750
August		0.0500		1,567,957		1,568		76,830		-			-		-			78,398
September		0.0500		1,431,340		1,431		70,136		-			-		-			71,567
October		0.0500		50,000		50		2,450		-			-		-			2,500
November		0.0500		441,580		442		21,637		-			-		-			22,079
December		0.0500		3,914,400		3,915		191,805		-			-		-			195,720
Issuance of Common Stock for Contract Option Fee
December		0.0500		500,000		500		24,500		-			-		-			25,000
Issuance of Common Stock for Cash
January		0.1000		25,000		25		2,475		-			-		-			2,500
February		0.0500		800,000		800		39,200		-			-		-			40,000
March		0.0500		330,600		330		16,200		-			-		-			16,530
April		0.0500		1,745,000		1,745		85,505		-			-		-			87,250
May		0.0500		700,000		700		34,300		-			-		-			35,000
June		0.0500		4,345,000		4,345		212,905		-			-		-			217,250
August		0.0500		440,000		440		21,560		-			-		-			22,000
September		0.0500		2,470,000		2,470		121,030		-			-		-			123,500
October		0.0500		3,509,000		3,509		171,941		-			-		-			175,450
November		0.0500		5,338,700		5,339		261,596		-			-		-			266,935
December		0.0500		8,977,236		8,977		439,933		-			-		-			448,910
Net Loss				-		-		-		-			-		(2,377,568	)		(2,377,568	)
Balances, December 31, 2009				136,150,108		136,150		11,677,947		(20,000	)		-		(11,087,772	)		706,325

The accompanying notes are an integral part of these consolidated financial statements.

- 6 -

ALTERNATE ENERGY HOLDINGS, INC.

(A Development Stage Company)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

AND THE PERIOD FROM INCEPTION (AUGUST 29, 2005) THROUGH MARCH 31, 2012 (Unaudited)

2010	Price per Share		Number of Common Shares Issued		Common Stock		Additional Paid in Capital		Treasury Stock		Accumulated Other Comprehensive Income		Net Loss		Total
Issuance of Common Stock for Services
January		0.0500		17,500,000		17,500		857,500		-		-		-		875,000
February		0.0500		20,475,200		20,475		1,003,285		-		-		-		1,023,760
March		0.0500		1,307,546		1,308		64,069		-		-		-		65,377
April		0.0500		735,800		735		36,055		-		-		-		36,790
May		0.1000		100,000		100		9,900		-		-		-		10,000
June		0.1000		5,500,000		5,500		544,500		-		-		-		550,000
July		0.1500		5,854,465		5,854		872,316		-		-		-		878,170
August		0.5000		462,000		462		230,538		-		-		-		231,000
October		0.7000		145,000		145		101,355		-		-		-		101,500
November		0.7365		2,056,030		2,056		1,512,124		-		-		-		1,514,180
Issuance of Common Stock for Contract Option Fee
August		0.4000		500,000		500		199,500		-		-		-		200,000
September		0.7000		250,000		250		174,750		-		-		-		175,000
Issuance of Common Stock for Cash
January		0.0500		4,691,240		4,691		229,871		-		-		-		234,562
February		0.0500		42,188,960		42,189		2,067,259		-		-		-		2,109,448
March		0.0500		30,048,710		30,049		1,472,387		-		-		-		1,502,436
April		0.0500		4,610,000		4,610		225,890		-		-		-		230,500
May		0.1000		44,028,600		44,029		4,358,831		-		-		-		4,402,860
June		0.1000		7,348,580		7,349		727,509		-		-		-		734,858
July		0.4000		65,000		65		25,935		-		-		-		26,000
August		0.5000		425,000		425