Replies to post #25432 on Alternative Energy Partners Inc (AEGY)

[QServus]

As reflected in the accompanying financial statements, the Company has a net loss of $664,016 for the nine months ended April 30, 2013; and an accumulated deficit during the development stage of $7,789,334 at April 30, 2013.

WOW, that looks like a major POS we got here!

[QServus]

**DILUTION WARNING**

Toilet paper being sold

During fiscal year ended July 31, 2010, the Company issued two promissory notes to a related party, McDowell, LLC, managed by a former officer and director of the Company, totaling $12,500. Each note bears interest at a rate of 8% per annum and due on demand. On December 3, 2010, the Company received written demand for payment of the notes and upon failure to fulfill the demand, subsequently filed suit for collection of all amounts owed resulting in a judgment being entered in favor of the holder. As of April 30, 2013 and July 31, 2012, the principal balance together with accrued interest totaled $15,675 and $14,661, respectively.


On December 31, 2012, the Company issued a convertible promissory note representing accrued liabilities in the amount of $164,547 to a former consultant to the Company for services rendered. The Company ’ s former controlling shareholder, Novation Holdings, Inc. ( “ Novation ” ) subsequently acquired the note as part of an unrelated transaction. The convertible note bears interest at a rate of 5% per annum, matures on December 31, 2014 and is convertible at a rate of $0.0005 per share. Subsequent to April 30, 2013, Novation transferred the note to an unrelated third party. As of April 30, 2013 and July 31, 2012, the principal balance together with accrued interest totaled $166,978 and $0, respectively.