UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 101, ~~2007~~2008

Commission File Number 000-51762

ALTERNATIVE ENERGY SOURCES, INC.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation

or organization)

74-3038728

(I.R.S. Employer

Identification Number)

~~1911~~310 ~~Central~~ W. 20th Street, KCMO ~~Kansas City, Missouri~~ 64108

(816) 842-3835

(Address of principal executive offices and telephone number)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))

Item 52.~~02 Departure~~06 Material ~~of Directors or Principal Officers; Election of Directors; Appointment of~~Impairments

~~Principal~~On ~~Officers;~~January ~~Compensatory~~1, ~~Arrangements~~2008, Alternative Energy Sources, Inc.’s (the “Company”) option to purchase land in Kankakee, Illinois expired. The option had been retained in order to provide land upon which an ethanol plant could be constructed. In connection with the lapse of ~~Certain~~the option, management concluded on January 1, ~~Officers~~2008 that material charges for impairment to certain assets are required as a result. The total estimated charge related to these impaired assets is approximately $1.7 million and is expected to be recorded in the Company’s fiscal 2007 financial results. These impaired assets include capitalized costs paid to maintain the option, pre-paid engineering and construction costs and permitting-related costs. The Company does not expect any future cash expenditures related to these estimated impairment charges.

OnItem ~~January 10, 2007, Mr~~5. ~~James L. Spigarelli was appointed to the Board of~~02 Departure ~~Directors (the “Board”)~~ of ~~Alternative~~Directors ~~Energy~~or ~~Sources,~~Principal ~~Inc.~~Officers; ~~(the~~Election ~~“Company”). Mr. Spigarelli has not been appointed to any committee~~ of ~~the~~Directors; ~~Board~~Appointment ~~at this time.~~of ~~The~~Principal ~~appointment~~Officers; ofCompensatory ~~Mr.~~Arrangements ~~Spigarelli~~of ~~as director was not pursuant to any agreement~~Certain ~~or understanding between Mr~~Officers. ~~Spigarelli and any third party.~~

~~Mr.~~On ~~Spigarelli~~January ~~was awarded a non-qualified stock option under the Company’s 2006 Equity Incentive Plan to purchase 75~~4,~~000~~ ~~shares of the Company’s common stock~~2008, ~~such~~ ~~option to vest in three equal annual installments beginning January 10, 2008~~Mr. InJames ~~addition, Mr~~L. Spigarelli ~~receives~~resigned ~~$1,500~~from ~~for~~the ~~each~~ Board ~~meeting~~of heDirectors ~~attends~~of the inCompany ~~person~~due ~~and~~to ~~$750~~time ~~for~~demands ~~each~~as ~~Board~~President ~~meeting~~and heCEO ~~attends~~of ~~via~~Midwest ~~telephone.~~Research ~~Mr. Spigarelli~~Institute islimiting ~~compensated~~his ~~for~~ability ~~services~~to ~~rendered~~participate ~~outside~~in ~~Board~~board ~~meetings~~responsibilities at ~~$225~~ ~~per hour not to exceed $1,800 per day~~the Company.

The Company announced Mr. Spigarelli’s appointment in a press release, which is attached as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d)

99.1 Press release of Alternative Energy Sources, Inc. dated January 16, 2007

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 16, 2007	ALTERNATIVE ENERGY SOURCES, INC.
Dated: January 7, 2008	ALTERNATIVE ENERGY SOURCES, INC.
	By:	/s/ Mark Beemer
		Name: Mark Beemer
		Title: Chief Executive Officer

Filing Compare · ALTERNATIVE ENERGY SOURCES INC