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    <title>Alternative Energy Development Corporation Form 8-K for April 23, 2009</title>
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D.C. 20549</font></div>
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8-K</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
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to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date of
Report (Date of earliest event reported)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">April
23, 2009</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">ALTERNATIVE
ENERGY DEVELOPMENT CORPORATION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Formerly
Terrasol Holdings Ltd.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(Exact
name of registrant as specified in its charter)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">(State
      or other jurisdiction of incorporation)</font></div>
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      File No.)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">101
California Street</font></div>
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2450</font></div>
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Francisco, California 94111</font></div>
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of principal executive offices and Zip Code)</font></div>
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telephone number, including area code)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>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 (see General Instruction
A.2. below):</font></div>
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      communications pursuant to Rule 425 under the Securities Act (17 CFR
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      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
      1.01</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ENTRY
      INTO A MATERIAL DEFINITIVE
AGREEMENT</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April
28, 2009 we entered into an assignment agreement with Smith, Young and
Associates and Morton Weisbrot as assignors wherein assignors agreed to sell all
of their right, title and interest in and to a certain Technology License and
Distribution Agreement dated August 1, 2008 in consideration of 2,000,000
restricted Series A Convertible Preferred Shares.&#160;&#160;In addition, we
will pay $10.00 on all sales. Smith Young and Associates, Inc. and Morton Weisbrot will pay to Fuel Concepts LLC a royalty of $40 from net receipts on all sales over and above 6,000 units per calendar year of products. This royalty shall be paid out of the net receipts from the sales of products and will be our responsibility under the assignment.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On April
28, 2009 we also entered into an assignment agree with Smith, Young and
Associates and Morton Weisbrot as assignors wherein assignors agreed to sell all
of their right, title and interest in and to a certain Exclusive Manufacturing
Agreement dated August 1, 2008.&#160;&#160;&#160;The assignment of this
agreement was part and parcel of the assignment of the assignment of the
Technology License and Distribution Agreement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On May 5, 2009, we entered into an
exclusive employment agreement with Jerry Alvarez as president and chief
executive officer. The agreement is for a term of two years beginning May 5,
2009 and ending May 4, 2011.&#160;&#160;Mr. Alvarez will be paid $120,000 per
annum; receive 1,000,0000 shares of common stock, 500,000 shares within 90 days
and 500,000 shares at the beginning of Mr. Alvarez&#8217;s second term.&#160;&#160;If
Mr. Alvarez terminates his employment within 12 months of the date of the
employment agreement, all shares granted to him will be
returned.&#160;&#160;Further, Mr. Alvarez will be entitled to earn a minimum
cash bonus of $120,000 per year.&#160;&#160;In addition, Mr. Alvarez will be
entitled to two weeks paid vacation a year and will be reimbursed for business
related expenses he incurs.&#160;&#160;In the event we establish a medical and
dental plan, Mr. Alvarez will be entitled to participate therein. A complete
copy of the employment agreement is filed with this report.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
3.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;UNREGISTERED
SALE OF EQUITY SECURITIES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On&#160;&#160;May 6, 2009 we issued
2,000,000 restricted Series A Convertible Preferred Shares to Morton Weisbrot as
consideration&#160;&#160;the Technology License and Distribution Agreement dated
August 1, 2008 referred to in Item 1 of this report.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ITEM
5.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;CHANGES
IN CONTROL OF THE REGISTRANT</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On&#160;&#160;May 6, 2009 we issued
2,000,000 restricted Series A Convertible Preferred Shares to Morton Weisbrot as
consideration&#160;&#160;the Technology License and Distribution Agreement dated
August 1, 2008 referred to in Item 1 of this report.&#160;&#160;Each share of
the Series A Convertible Preferred Shares has <font style="DISPLAY: inline; BACKGROUND-COLOR: #ffffff">one hundred (100)
votes.&#160;&#160;As a result, Mr. Wesibrot owns 95.51% voting
control.</font></font></div>
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      5.02</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DEPARTURE
      OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF
      CERTAIN OFFICERS; COMPENSATION ARRANGEMENTS OF CERTAIN
      OFFICERS</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On April 24, 2009, Jerry Alvarez was
appointed as a director and as our&#160;&#160;president, principal executive
officer, secretary, treasurer, principal financial officer and principal
accounting officer.&#160;&#160;On the same date, Juliet A. Morgan resigned as a
director and as our president, principal executive officer, secretary,
treasurer, principal financial officer and principal accounting
officer.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Since September 2008, Mr. Alvarez has
been retained by Driven Performance located in Surprise, Arizona to optimize the
performance and mileage for General Motors manufactured vehicles. <font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>Since May 2009, Mr.
Alvarez has been retained by ADEC located in Glendale, Arizona to assist with
the development of its e3 Fuel Saver product.&#160;&#160;From January 2007 to
January 2008, Mr. Alvarez was regional manager for Advanced Metal Forming
Technologies located in Ventura, California.&#160;&#160;Advanced Metal Forming
Technologies is engaged in the business of wheel manufacturing.&#160;&#160;From
May 2000 to December 2007, Mr. Alvarez served as chief engineering officer for
Lund Cadillac Performance located in Phoenix, Arizona.&#160;&#160;Lund Cadillac
Performance is engaged in the business of Customizing cars and developing new
accessories. From November 2002 to October 2005, Mr. Alvarez worked with Chip
Foose to develop specialty aftermarket products for the 2002 Cadillac DTS and in
2005 Mr. Alvarez custom designed two award winning vehicles for the SEMA car
show in Las Vegas, Nevada.&#160;&#160;Mr. Alvarez was featured on television&#8217;s
The Learning Channel series, &#8220;Rides&#8221;.</font></div>
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      5.03</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">AMENDMENTS
      TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL
    YEAR</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On May 5, 2009, we amended our articles
of incorporation and changed our name from Terrasol Holdings Ltd. to Alternative
Energy Development Corporation.&#160;&#160;We also increase our authorized
shares of common stock from 100,000,000 shares with a par value of $0.00001 per
share to 200,000,000 shares with a par value of $0.00001 per share.</font></div>
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      8.01</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">OTHER
      EVENTS.</font></div>
            </td>
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      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On April 23, 2009, Juliet Morgan
returned 1,000,000 shares of her common stock to the Company and the same were
cancelled.&#160;&#160;After the foregoing Juliet Morgan owned a total of
5,000,000 restricted shares of common stock which constituted 53.19% of our
outstanding shares of common stock.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On May 5, 2009, we split our
outstanding shares of common stock on the basis of 7 for 1, thereby increasing
the number of outstanding shares of common stock from 9,400,000 shares to
65,800,000 shares of common stock.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On May 5, 2009, we designated
20,000,000 shares of our preferred stock as Class A Preferred Stock with the
following characteristics:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Designation and
Amount</font>.&#160;&#160;The designation of this class of capital stock shall
be &#8220;Class A Convertible Preferred Stock,&#8221; par value $.00001 per share (the
&#8220;Class A Stock&#8221;).&#160;&#160;The number of shares, powers, terms, conditions,
designations, preferences and privileges, relative, participating, optional and
other special rights, and qualifications, limitations and restrictions, if any,
of the Class A Stock shall be as set forth herein.&#160;&#160;The number of
authorized shares of the Class A Stock is Twenty Million (20,000,000)
shares.&#160;&#160;The term &#8220;Preferred Stock&#8221; shall mean the Class A Stock and
any other class of preferred stock that the Board of Directors may establish in
accordance with the Certificate of Incorporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Ranking</font>.&#160;&#160;The
Corporation&#8217;s Class A Stock shall rank, as to dividends and upon Liquidation (as
defined in Section 4(b) hereof), senior and prior to the Corporation&#8217;s common
stock, par value $0.00001 per share (the &#8220;Common Stock&#8221;) and to all other
classes or class of stock issued by the Corporation, except as otherwise
approved by the affirmative vote or consent of the holders of a majority of the
shares of Class A Stock pursuant to Section 6(c) hereof.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Dividend
Provisions</font>.&#160;&#160;The holders of shares of Class A Stock have no
dividend rights except as may be declared by the Board of Directors of the
Corporation in its sole and absolute discretion, out of funds legally available
for that purpose.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Liquidation
Rights</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4(a) With
respect to rights on Liquidation (as defined in Section 4(b) hereof), the Class
A Stock shall rank senior and prior to the Corporation&#8217;s Common Stock and to all
other classes or series of stock issued by the Corporation, except as otherwise
approved by the affirmative vote or consent of the holders of at least a
majority of Class A Stock outstanding pursuant to Section&#160;6(a)
hereof.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4(b) In
the event of any liquidation, dissolution or winding-up of the affairs of the
Corporation (collectively, a &#8220;Liquidation&#8221;), the sole participation to which the
holders of shares of Class A Stock then outstanding (the &#8220;Class A Stockholders&#8221;)
shall be entitled, out of the assets of the Corporation legally available for
distribution to its stockholders, whether from capital, surplus or earnings, to
receive, before any payment shall be made to the holders of the Corporation&#8217;s
Common Stock or any other class or series of stock ranking on Liquidation junior
to such Class A Stock, an amount per share equal to $1.00.&#160;&#160;If upon
any such Liquidation of the Corporation, the remaining assets of the Corporation
available for distribution to its stockholders shall be insufficient to pay the
holders of shares of Class A Stock the full amount to which they shall be
entitled, the holders of shares of Class A Stock and any class or series of
stock ranking on liquidation on a parity with the Class A Stock shall share
<font style="DISPLAY: inline; TEXT-DECORATION: underline">pari</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">passu</font> in any
distribution of the remaining assets and funds of the Corporation in proportion
to the respective liquidation amounts of the Preferred Stock that would
otherwise be payable to the holders of Preferred Stock with respect to the
shares held by them upon such distribution if all amounts payable on or with
respect to such shares were paid in full.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Voting</font>.&#160;&#160;The
Class A Stockholders shall be entitled to vote on all matters requiring a
shareholder vote of the Corporation. Each shareholder of record of Terrasol
Holdings Ltd. Class A Stock shall have <font style="DISPLAY: inline; BACKGROUND-COLOR: #ffffff">o</font><font style="DISPLAY: inline; BACKGROUND-COLOR: #ffffff">ne hundred (100) votes for
each Class A Stock share outstanding in his or her name on the books of the
Corporation.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Conversion</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6(a)
<font style="DISPLAY: inline; BACKGROUND-COLOR: #ffffff">Any Class A Stockholder
shall have the right to convert any or all of its Class A Stock into 20 shares
of fully paid and nonassessable shares of Common Stock for each share of Class A
Stock so converted.&#160;&#160;In</font> any event, holders of Class A Stock
will have the right to convert as described in this Section 6 upon an initial or
secondary public offering of Common Stock by the Corporation or in the event of
a change in control as defined in the Rules and Regulations of the Securities
and Exchange Commission.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6(b)(i)
Any Class A Stockholder may exercise the right to convert such shares into
Common Stock pursuant to this Section 6 by delivering to the Corporation during
regular business hours, at the office of the Corporation or any transfer agent
of the Corporation or at such other place as may be designated by the
Corporation, the certificate or certificates for the shares to be converted (the
&#8220;Class A Preferred Certificate&#8221;), duly endorsed or assigned in blank to the
Corporation (if required by it).</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6(b)(ii)
Each Class A Preferred Certificate shall be accompanied by written notice
stating that such holder elects to convert such shares and stating the name or
names (with address) in which the certificate or certificates for the shares of
Common Stock (the &#8220;Common Certificate&#8221;) are to be issued.&#160;&#160;Such
conversion shall be deemed to have been effected on the date when such delivery
is made, and such date is referred to herein as the &#8220;Conversion
Date.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6(b)(iii)
As promptly as practicable thereafter, the Corporation shall issue and deliver
to or upon the written order of such holder, at the place designated by such
holder, a certificate or certificates for the number of shares of Common Stock
to which such holder is entitled.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6(b)(iv)
The person in whose name the certificate or certificates for Common Stock are to
be issued shall be deemed to have become a holder of record of Common Stock on
the applicable Conversion Date, unless the transfer books of the Corporation are
closed on such Conversion Date, in which event the holder shall be deemed to
have become the stockholder of record on the next succeeding date on which the
transfer books are open, provided that the Conversion Price shall be that
Conversion Price in effect on the Conversion Date.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6(b)(v)
Upon conversion of only a portion of the number of shares covered by a Class A
Preferred Certificate, the Corporation shall issue and deliver to or upon the
written order of the holder of such Class A Preferred Certificate, at the
expense of the Corporation, a new certificate covering the number of shares of
the Class A Stock representing the unconverted portion of the Class A Preferred
Certificate, which new certificate shall entitle the holder thereof to all the
rights, powers and privileges of a holder of such shares.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6(c) The
Corporation shall pay all documentary, stamp or other transactional taxes
(excluding income taxes) attributable to the issuance or delivery of shares of
capital stock of the Corporation upon conversion of any shares of Class A Stock;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">provided</font>, <font style="DISPLAY: inline; TEXT-DECORATION: underline">however</font>, that the
Corporation shall not be required to pay any taxes which may be payable in
respect of any transfer involved in the issuance or delivery of any certificate
for such shares in a name other than that of the Class A Stockholder in respect
of which such shares of Class A Stock are being issued.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6(d) Upon
receipt of Notice to Convert, The Corporation shall reserve out of its
authorized but unissued shares of Common Stock solely for the purpose of
effecting the conversion of the Class A Stock sufficient shares of Common Stock
to provide for the conversion of all outstanding shares of Class A
Stock.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 108pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6(e) All
shares of Common Stock which may be issued in connection with the conversion
provisions set forth herein will, upon issuance by the Corporation, be validly
issued, fully paid and nonassessable, not subject to any preemptive or similar
rights and free from all taxes, liens or charges with respect thereto created or
imposed by the Corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Certain Covenants</font>.
Any registered holder of Class A Stock may proceed to protect and enforce its
rights and the rights of such holders by any available remedy by proceeding at
law or in equity to protect and enforce any such rights, whether for the
specific enforcement of any provision in this Certificate of Designation or in
aid of the exercise of any power granted herein, or to enforce any other proper
remedy.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 63pt"></font>&#160;&#160;&#160; 8.&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Notice to the
Corporation</font>.&#160;&#160;All notices and other communications required or
permitted to be given to the Corporation hereunder shall be made by first-class
mail, postage prepaid, to the Corporation at its principal executive offices
(currently located on the date of the adoption of these resolutions at the
following address:&#160;&#160;101 California Street, Suite #2450, San Francisco,
CA 94111. Any notice to the stockholders shall be made to their address as set
forth on the books and records of the Corporation.</font></div>
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9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;FINANCIAL
STATEMENTS AND EXHIBITS</font></div>
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      </font></td>
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                </td>
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      Description</font></div>
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      Articles of Incorporation</font></td>
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              <tr>
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      Agreement</font></td>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>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.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated
this 14<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">th</font> day of
May 2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
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      Energy Development Corporation</font></div>
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      </font></td>
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      </font></td>
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      </font></td>
          </tr>
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      </font></td>
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            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline">JERRY ALVAREZ</font></font></div>
            </td>
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      Alvarez</font></div>
            </td>
          </tr>
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            <td valign="top" width="41%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
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            <td valign="top" width="5%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></td>
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      Principal Executive Officer, Principal Financial Officer and a member of
      the Board of Directors</font></div>
            </td>
          </tr>
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{"company-data": {"conformed-name": "Alternative Energy Development Corp", "cik": "0001446885", "assigned-sic": "1040", "irs-number": "000000000", "state-of-incorporation": "NV", "fiscal-year-end": "0731"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-153858", "film-number": "09826517"}, "business-address": {"street1": "101 CALIFORNIA STREET", "street2": "SUITE #2450", "city": "SAN FRANCISCO", "state": "CA", "zip": "94111", "phone": "415-946-8853"}, "mail-address": {"street1": "101 CALIFORNIA STREET", "street2": "SUITE #2450", "city": "SAN FRANCISCO", "state": "CA", "zip": "94111"}, "former-company": {"former-conformed-name": "Terrasol Holdings Ltd.", "date-changed": "20081002"}}
Alternative Energy Development Corporation Form 8-K for April 23, 2009
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)
April
23, 2009
ALTERNATIVE
ENERGY DEVELOPMENT CORPORATION
(Formerly
Terrasol Holdings Ltd.)
(Exact
name of registrant as specified in its charter)
NEVADA
333-153858
(State
      or other jurisdiction of incorporation)
(Commission
      File No.)
101
California Street
Suite
2450
San
Francisco, California 94111
(Address
of principal executive offices and Zip Code)
415-946-8853
(Registrant's
telephone number, including area code)
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 (see General Instruction
A.2. below):
[   ]
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
[   ]
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
[   ]
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
[   ]
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
ITEM
      1.01
ENTRY
      INTO A MATERIAL DEFINITIVE
AGREEMENT
On April
28, 2009 we entered into an assignment agreement with Smith, Young and
Associates and Morton Weisbrot as assignors wherein assignors agreed to sell all
of their right, title and interest in and to a certain Technology License and
Distribution Agreement dated August 1, 2008 in consideration of 2,000,000
restricted Series A Convertible Preferred Shares.  In addition, we
will pay $10.00 on all sales. Smith Young and Associates, Inc. and Morton Weisbrot will pay to Fuel Concepts LLC a royalty of $40 from net receipts on all sales over and above 6,000 units per calendar year of products. This royalty shall be paid out of the net receipts from the sales of products and will be our responsibility under the assignment.
On April
28, 2009 we also entered into an assignment agree with Smith, Young and
Associates and Morton Weisbrot as assignors wherein assignors agreed to sell all
of their right, title and interest in and to a certain Exclusive Manufacturing
Agreement dated August 1, 2008.   The assignment of this
agreement was part and parcel of the assignment of the assignment of the
Technology License and Distribution Agreement.
On May 5, 2009, we entered into an
exclusive employment agreement with Jerry Alvarez as president and chief
executive officer. The agreement is for a term of two years beginning May 5,
2009 and ending May 4, 2011.  Mr. Alvarez will be paid $120,000 per
annum; receive 1,000,0000 shares of common stock, 500,000 shares within 90 days
and 500,000 shares at the beginning of Mr. Alvarez's second term.  If
Mr. Alvarez terminates his employment within 12 months of the date of the
employment agreement, all shares granted to him will be
returned.  Further, Mr. Alvarez will be entitled to earn a minimum
cash bonus of $120,000 per year.  In addition, Mr. Alvarez will be
entitled to two weeks paid vacation a year and will be reimbursed for business
related expenses he incurs.  In the event we establish a medical and
dental plan, Mr. Alvarez will be entitled to participate therein. A complete
copy of the employment agreement is filed with this report.
ITEM
3.02                             UNREGISTERED
SALE OF EQUITY SECURITIES
On  May 6, 2009 we issued
2,000,000 restricted Series A Convertible Preferred Shares to Morton Weisbrot as
consideration  the Technology License and Distribution Agreement dated
August 1, 2008 referred to in Item 1 of this report.
ITEM
5.01                             CHANGES
IN CONTROL OF THE REGISTRANT
On  May 6, 2009 we issued
2,000,000 restricted Series A Convertible Preferred Shares to Morton Weisbrot as
consideration  the Technology License and Distribution Agreement dated
August 1, 2008 referred to in Item 1 of this report.  Each share of
the Series A Convertible Preferred Shares has
one hundred (100)
votes.  As a result, Mr. Wesibrot owns 95.51% voting
control.
ITEM
      5.02
DEPARTURE
      OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF
      CERTAIN OFFICERS; COMPENSATION ARRANGEMENTS OF CERTAIN
      OFFICERS
On April 24, 2009, Jerry Alvarez was
appointed as a director and as our  president, principal executive
officer, secretary, treasurer, principal financial officer and principal
accounting officer.  On the same date, Juliet A. Morgan resigned as a
director and as our president, principal executive officer, secretary,
treasurer, principal financial officer and principal accounting
officer.
Since September 2008, Mr. Alvarez has
been retained by Driven Performance located in Surprise, Arizona to optimize the
performance and mileage for General Motors manufactured vehicles.
Since May 2009, Mr.
Alvarez has been retained by ADEC located in Glendale, Arizona to assist with
the development of its e3 Fuel Saver product.  From January 2007 to
January 2008, Mr. Alvarez was regional manager for Advanced Metal Forming
Technologies located in Ventura, California.  Advanced Metal Forming
Technologies is engaged in the business of wheel manufacturing.  From
May 2000 to December 2007, Mr. Alvarez served as chief engineering officer for
Lund Cadillac Performance located in Phoenix, Arizona.  Lund Cadillac
Performance is engaged in the business of Customizing cars and developing new
accessories. From November 2002 to October 2005, Mr. Alvarez worked with Chip
Foose to develop specialty aftermarket products for the 2002 Cadillac DTS and in
2005 Mr. Alvarez custom designed two award winning vehicles for the SEMA car
show in Las Vegas, Nevada.  Mr. Alvarez was featured on television's
The Learning Channel series, "Rides".
ITEM
      5.03
AMENDMENTS
      TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL
    YEAR
On May 5, 2009, we amended our articles
of incorporation and changed our name from Terrasol Holdings Ltd. to Alternative
Energy Development Corporation.  We also increase our authorized
shares of common stock from 100,000,000 shares with a par value of $0.00001 per
share to 200,000,000 shares with a par value of $0.00001 per share.
ITEM
      8.01
OTHER
      EVENTS.
On April 23, 2009, Juliet Morgan
returned 1,000,000 shares of her common stock to the Company and the same were
cancelled.  After the foregoing Juliet Morgan owned a total of
5,000,000 restricted shares of common stock which constituted 53.19% of our
outstanding shares of common stock.
On May 5, 2009, we split our
outstanding shares of common stock on the basis of 7 for 1, thereby increasing
the number of outstanding shares of common stock from 9,400,000 shares to
65,800,000 shares of common stock.
On May 5, 2009, we designated
20,000,000 shares of our preferred stock as Class A Preferred Stock with the
following characteristics:
1.
Designation and
Amount
.  The designation of this class of capital stock shall
be "Class A Convertible Preferred Stock," par value $.00001 per share (the
"Class A Stock").  The number of shares, powers, terms, conditions,
designations, preferences and privileges, relative, participating, optional and
other special rights, and qualifications, limitations and restrictions, if any,
of the Class A Stock shall be as set forth herein.  The number of
authorized shares of the Class A Stock is Twenty Million (20,000,000)
shares.  The term "Preferred Stock" shall mean the Class A Stock and
any other class of preferred stock that the Board of Directors may establish in
accordance with the Certificate of Incorporation.
2.
Ranking
.  The
Corporation's Class A Stock shall rank, as to dividends and upon Liquidation (as
defined in Section 4(b) hereof), senior and prior to the Corporation's common
stock, par value $0.00001 per share (the "Common Stock") and to all other
classes or class of stock issued by the Corporation, except as otherwise
approved by the affirmative vote or consent of the holders of a majority of the
shares of Class A Stock pursuant to Section 6(c) hereof.
3.
Dividend
Provisions
.  The holders of shares of Class A Stock have no
dividend rights except as may be declared by the Board of Directors of the
Corporation in its sole and absolute discretion, out of funds legally available
for that purpose.
4.
Liquidation
Rights
.
4(a) With
respect to rights on Liquidation (as defined in Section 4(b) hereof), the Class
A Stock shall rank senior and prior to the Corporation's Common Stock and to all
other classes or series of stock issued by the Corporation, except as otherwise
approved by the affirmative vote or consent of the holders of at least a
majority of Class A Stock outstanding pursuant to Section 6(a)
hereof.
4(b) In
the event of any liquidation, dissolution or winding-up of the affairs of the
Corporation (collectively, a "Liquidation"), the sole participation to which the
holders of shares of Class A Stock then outstanding (the "Class A Stockholders")
shall be entitled, out of the assets of the Corporation legally available for
distribution to its stockholders, whether from capital, surplus or earnings, to
receive, before any payment shall be made to the holders of the Corporation's
Common Stock or any other class or series of stock ranking on Liquidation junior
to such Class A Stock, an amount per share equal to $1.00.  If upon
any such Liquidation of the Corporation, the remaining assets of the Corporation
available for distribution to its stockholders shall be insufficient to pay the
holders of shares of Class A Stock the full amount to which they shall be
entitled, the holders of shares of Class A Stock and any class or series of
stock ranking on liquidation on a parity with the Class A Stock shall share
pari
passu
in any
distribution of the remaining assets and funds of the Corporation in proportion
to the respective liquidation amounts of the Preferred Stock that would
otherwise be payable to the holders of Preferred Stock with respect to the
shares held by them upon such distribution if all amounts payable on or with
respect to such shares were paid in full.
5.
Voting
.  The
Class A Stockholders shall be entitled to vote on all matters requiring a
shareholder vote of the Corporation. Each shareholder of record of Terrasol
Holdings Ltd. Class A Stock shall have
o
ne hundred (100) votes for
each Class A Stock share outstanding in his or her name on the books of the
Corporation.
6.
Conversion
.
6(a)
Any Class A Stockholder
shall have the right to convert any or all of its Class A Stock into 20 shares
of fully paid and nonassessable shares of Common Stock for each share of Class A
Stock so converted.  In
any event, holders of Class A Stock
will have the right to convert as described in this Section 6 upon an initial or
secondary public offering of Common Stock by the Corporation or in the event of
a change in control as defined in the Rules and Regulations of the Securities
and Exchange Commission.
6(b)(i)
Any Class A Stockholder may exercise the right to convert such shares into
Common Stock pursuant to this Section 6 by delivering to the Corporation during
regular business hours, at the office of the Corporation or any transfer agent
of the Corporation or at such other place as may be designated by the
Corporation, the certificate or certificates for the shares to be converted (the
"Class A Preferred Certificate"), duly endorsed or assigned in blank to the
Corporation (if required by it).
6(b)(ii)
Each Class A Preferred Certificate shall be accompanied by written notice
stating that such holder elects to convert such shares and stating the name or
names (with address) in which the certificate or certificates for the shares of
Common Stock (the "Common Certificate") are to be issued.  Such
conversion shall be deemed to have been effected on the date when such delivery
is made, and such date is referred to herein as the "Conversion
Date."
6(b)(iii)
As promptly as practicable thereafter, the Corporation shall issue and deliver
to or upon the written order of such holder, at the place designated by such
holder, a certificate or certificates for the number of shares of Common Stock
to which such holder is entitled.
6(b)(iv)
The person in whose name the certificate or certificates for Common Stock are to
be issued shall be deemed to have become a holder of record of Common Stock on
the applicable Conversion Date, unless the transfer books of the Corporation are
closed on such Conversion Date, in which event the holder shall be deemed to
have become the stockholder of record on the next succeeding date on which the
transfer books are open, provided that the Conversion Price shall be that
Conversion Price in effect on the Conversion Date.
6(b)(v)
Upon conversion of only a portion of the number of shares covered by a Class A
Preferred Certificate, the Corporation shall issue and deliver to or upon the
written order of the holder of such Class A Preferred Certificate, at the
expense of the Corporation, a new certificate covering the number of shares of
the Class A Stock representing the unconverted portion of the Class A Preferred
Certificate, which new certificate shall entitle the holder thereof to all the
rights, powers and privileges of a holder of such shares.
6(c) The
Corporation shall pay all documentary, stamp or other transactional taxes
(excluding income taxes) attributable to the issuance or delivery of shares of
capital stock of the Corporation upon conversion of any shares of Class A Stock;
provided
,
however
, that the
Corporation shall not be required to pay any taxes which may be payable in
respect of any transfer involved in the issuance or delivery of any certificate
for such shares in a name other than that of the Class A Stockholder in respect
of which such shares of Class A Stock are being issued.
6(d) Upon
receipt of Notice to Convert, The Corporation shall reserve out of its
authorized but unissued shares of Common Stock solely for the purpose of
effecting the conversion of the Class A Stock sufficient shares of Common Stock
to provide for the conversion of all outstanding shares of Class A
Stock.
6(e) All
shares of Common Stock which may be issued in connection with the conversion
provisions set forth herein will, upon issuance by the Corporation, be validly
issued, fully paid and nonassessable, not subject to any preemptive or similar
rights and free from all taxes, liens or charges with respect thereto created or
imposed by the Corporation.
7.
Certain Covenants
.
Any registered holder of Class A Stock may proceed to protect and enforce its
rights and the rights of such holders by any available remedy by proceeding at
law or in equity to protect and enforce any such rights, whether for the
specific enforcement of any provision in this Certificate of Designation or in
aid of the exercise of any power granted herein, or to enforce any other proper
remedy.
8.
Notice to the
Corporation
.  All notices and other communications required or
permitted to be given to the Corporation hereunder shall be made by first-class
mail, postage prepaid, to the Corporation at its principal executive offices
(currently located on the date of the adoption of these resolutions at the
following address:  101 California Street, Suite #2450, San Francisco,
CA 94111. Any notice to the stockholders shall be made to their address as set
forth on the books and records of the Corporation.
ITEM
9.01                             FINANCIAL
STATEMENTS AND EXHIBITS
Exhibits
Document
      Description
3.1
Amended
      Articles of Incorporation
10.1
Employment
      Agreement
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
this 14
th
day of
May 2009.
Alternative
      Energy Development Corporation
BY:
JERRY ALVAREZ
Jerry
      Alvarez
President,
      Principal Executive Officer, Principal Financial Officer and a member of
      the Board of Directors