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): August 22, 2006
                 -----------------------------------------------

                        ALTERNATIVE ENERGY SOURCES, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    Delaware
                                -----------------
                 (State or Other Jurisdiction of Incorporation)

            000-51762                        74-3038728
      (Commission File Number)     (IRS Employer Identification No.)

          310 West 20th Street, 2nd Floor, Kansas City, Missouri 64108
     -----------------------------------------------------------------------
              (Address of principal executive offices and zip code)

                                 (816) 842-3835
               --------------------------------------------------
              (Registrant's telephone number, including area code)

           ----------------------------------------------------------
          (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 (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CF 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))


<PAGE>

Item 5.02 Departure of Directors or Principal  Officers;  Election of Directors;
Appointment of Principal Officers

On August  16,  2006,  the  Registrant  hired Mr.  John J.  Holland  to serve as
Executive Vice-President and Chief Financial Officer pursuant to the terms of an
employment  agreement  executed  between the  Registrant  and Mr.  Holland.  The
employment  agreement is attached hereto as Exhibit 10.1 and incorporated herein
by reference and described below.

Before joining  Alternative  Energy  Sources,  Inc., Mr. Holland was employed by
Butler Manufacturing Company from 1980 until his retirement in 2004. Mr. Holland
began his career at Butler  Manufacturing  in 1980 and quickly  advanced to Vice
President-Controller  for its Buildings  Division,  where he was responsible for
the financial  operations  for the company's  largest North  American  operating
division.  Within five  years,  Mr.  Holland was named  Vice-President-Corporate
Controller of Butler Manufacturing and assumed  responsibility for the company's
financial accounting,  control,  reporting, and compliance. In 1990, Mr. Holland
was named Vice  President-Finance and Chief Financial Officer. In this capacity,
Mr. Holland  directed the successful  negotiation  and funding of a $120 million
leveraged recapitalization, developed a valuable investor relations program, and
saved Butler Manufacturing  approximately $1 million annually by moving from the
NASDAQ to the New York Stock  Exchange.  In 1999,  Mr.  Holland was named Butler
Manufacturing's  President  and Chief  Executive  Officer  where he oversaw many
significant  corporate  developments,  including,  among others,  initiating and
directing a  comprehensive  redirection  of corporate  strategy;  instituting  a
rigorous  process for  strategic  leadership/succession  planning;  implementing
significant cultural changes; and introducing lean operating principles to drive
process  improvements in both factories and offices. In 2001, Mr. Holland served
as Chairman of the Board and Chief Executive Officer, overseeing 4,500 employees
and nearly $1 billion in revenues for the company, which had major operations in
both North America and China. Mr. Holland led the strategic  evaluation  process
that culminated in the sale of Butler Manufacturing  Company for $223 million to
BlueScope Steel, Australia's largest steel company.

Before  joining  Butler  Manufacturing  Company,  Mr.  Holland was employed with
Arthur Andersen LLP as a senior accountant and with Saint Luke's Hospital System
as Controller.

Mr.  Holland holds B.S. and M.B.A.  degrees from the  University of Kansas.  Mr.
Holland currently serves as a director for Cooper Tire and Rubber Co., Inc., SCS
Transportation,  Inc.,  and  Saint  Luke's  Health  System of  Kansas  City.  In
addition,  Mr. Holland serves as a consultant with Greentree Ventures, a venture
capital firm located in Olathe, Kansas.

There are no family relationships among Registrant's executive officers.

Mr.  Holland's  employment  agreement is for a four year term,  providing for an
annual base salary of $180,000,  with an opportunity to increase the base salary
up to  $260,000  upon the  occurrence  of certain  events,  and an annual  bonus
subject to the Company  achieving its target  performance  levels as approved by
the Compensation Committee of the Board. Mr. Holland is also entitled to receive
an option grant of 400,000 shares from the Company's 2006 Stock Option Plan, 25%
of which shall be exercisable on the first  anniversary of the grant, 25% of the
option shall be vested and become  exercisable on the second  anniversary of the
grant,  25% of the option  shall be vested and become  exercisable  on the third
anniversary  of the grant,  and the  remaining 25% of the option shall be vested
and become  exercisable  on the fourth  anniversary  of the grant of the option.
Under the agreement, Mr. Holland will be subject to traditional  non-competition
and employee  non-solicitation  restrictions while he is employed by the Company
and for one year thereafter.  Mr. Holland and his dependents will be entitled to
participate in the Company's benefit plans at the Company's expense.  Subject to
certain notice requirements,  either Mr. Holland or the Company will be entitled
to terminate the employment agreement at any time. If the Company terminates the
employment  agreement  without  Cause (as  defined in the  agreement)  or if Mr.
Holland terminates the employment agreement for a Good Reason (as defined in the
agreement),  then Mr.  Holland  is  entitled  to  receive  his base  salary  and
guaranteed bonus during the then-remaining term of the agreement plus a one time
severance  payment  equal to his  then-current  annual base  salary,  as well as
continuation  at the  Company's  expense  of Mr.  Holland  participation  in the
benefit programs described above.


<PAGE>

Item 9.01  Financial Statements and Exhibits.

(c)   Exhibits

The following  exhibits are furnished in accordance  with the provisions of Item
601 of Regulation S-B:

-----------     ----------------------------------------------------------------
Exhibit No.     Description
-----------     ----------------------------------------------------------------

10.1            Employment Agreement

99.1            Press Release dated August 17, 2006



<PAGE>

                                   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: August 22, 2006                  ALTERNATIVE ENERGY SOURCES, INC.


                                        By: /s/ Mark Beemer
                                           -------------------------------------
                                        Name: Mark Beemer
                                        Title: Chief Executive Officer


<PAGE>

Exhibit Index

-----------     ----------------------------------------------------------------
Exhibit No.     Description
-----------     ----------------------------------------------------------------

10.1            Employment Agreement

99.1            Press Release dated August 17, 2006
{"company-data": {"conformed-name": "ALTERNATIVE ENERGY SOURCES INC", "cik": "0001175867", "assigned-sic": "8742", "irs-number": "000000000"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51762", "film-number": "061048372"}, "business-address": {"street1": "310 WEST 20TH STREET", "street2": "2ND FLOOR", "city": "KANSAS CITY", "state": "MO", "zip": "64108-2005", "phone": "816-842-3835"}, "mail-address": {"street1": "310 WEST 20TH STREET", "street2": "2ND FLOOR", "city": "KANSAS CITY", "state": "MO", "zip": "64108-2005"}}
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): August 22, 2006
                 -----------------------------------------------

                        ALTERNATIVE ENERGY SOURCES, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                                    Delaware
                                -----------------
                 (State or Other Jurisdiction of Incorporation)

            000-51762                        74-3038728
      (Commission File Number)     (IRS Employer Identification No.)

          310 West 20th Street, 2nd Floor, Kansas City, Missouri 64108
     -----------------------------------------------------------------------
              (Address of principal executive offices and zip code)

                                 (816) 842-3835
               --------------------------------------------------
              (Registrant's telephone number, including area code)

           ----------------------------------------------------------
          (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 (see General Instruction A.2. below):

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CF 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 5.02 Departure of Directors or Principal  Officers;  Election of Directors;
Appointment of Principal Officers

On August  16,  2006,  the  Registrant  hired Mr.  John J.  Holland  to serve as
Executive Vice-President and Chief Financial Officer pursuant to the terms of an
employment  agreement  executed  between the  Registrant  and Mr.  Holland.  The
employment  agreement is attached hereto as Exhibit 10.1 and incorporated herein
by reference and described below.

Before joining  Alternative  Energy  Sources,  Inc., Mr. Holland was employed by
Butler Manufacturing Company from 1980 until his retirement in 2004. Mr. Holland
began his career at Butler  Manufacturing  in 1980 and quickly  advanced to Vice
President-Controller  for its Buildings  Division,  where he was responsible for
the financial  operations  for the company's  largest North  American  operating
division.  Within five  years,  Mr.  Holland was named  Vice-President-Corporate
Controller of Butler Manufacturing and assumed  responsibility for the company's
financial accounting,  control,  reporting, and compliance. In 1990, Mr. Holland
was named Vice  President-Finance and Chief Financial Officer. In this capacity,
Mr. Holland  directed the successful  negotiation  and funding of a $120 million
leveraged recapitalization, developed a valuable investor relations program, and
saved Butler Manufacturing  approximately $1 million annually by moving from the
NASDAQ to the New York Stock  Exchange.  In 1999,  Mr.  Holland was named Butler
Manufacturing's  President  and Chief  Executive  Officer  where he oversaw many
significant  corporate  developments,  including,  among others,  initiating and
directing a  comprehensive  redirection  of corporate  strategy;  instituting  a
rigorous  process for  strategic  leadership/succession  planning;  implementing
significant cultural changes; and introducing lean operating principles to drive
process  improvements in both factories and offices. In 2001, Mr. Holland served
as Chairman of the Board and Chief Executive Officer, overseeing 4,500 employees
and nearly $1 billion in revenues for the company, which had major operations in
both North America and China. Mr. Holland led the strategic  evaluation  process
that culminated in the sale of Butler Manufacturing  Company for $223 million to
BlueScope Steel, Australia's largest steel company.

Before  joining  Butler  Manufacturing  Company,  Mr.  Holland was employed with
Arthur Andersen LLP as a senior accountant and with Saint Luke's Hospital System
as Controller.

Mr.  Holland holds B.S. and M.B.A.  degrees from the  University of Kansas.  Mr.
Holland currently serves as a director for Cooper Tire and Rubber Co., Inc., SCS
Transportation,  Inc.,  and  Saint  Luke's  Health  System of  Kansas  City.  In
addition,  Mr. Holland serves as a consultant with Greentree Ventures, a venture
capital firm located in Olathe, Kansas.

There are no family relationships among Registrant's executive officers.

Mr.  Holland's  employment  agreement is for a four year term,  providing for an
annual base salary of $180,000,  with an opportunity to increase the base salary
up to  $260,000  upon the  occurrence  of certain  events,  and an annual  bonus
subject to the Company  achieving its target  performance  levels as approved by
the Compensation Committee of the Board. Mr. Holland is also entitled to receive
an option grant of 400,000 shares from the Company's 2006 Stock Option Plan, 25%
of which shall be exercisable on the first  anniversary of the grant, 25% of the
option shall be vested and become  exercisable on the second  anniversary of the
grant,  25% of the option  shall be vested and become  exercisable  on the third
anniversary  of the grant,  and the  remaining 25% of the option shall be vested
and become  exercisable  on the fourth  anniversary  of the grant of the option.
Under the agreement, Mr. Holland will be subject to traditional  non-competition
and employee  non-solicitation  restrictions while he is employed by the Company
and for one year thereafter.  Mr. Holland and his dependents will be entitled to
participate in the Company's benefit plans at the Company's expense.  Subject to
certain notice requirements,  either Mr. Holland or the Company will be entitled
to terminate the employment agreement at any time. If the Company terminates the
employment  agreement  without  Cause (as  defined in the  agreement)  or if Mr.
Holland terminates the employment agreement for a Good Reason (as defined in the
agreement),  then Mr.  Holland  is  entitled  to  receive  his base  salary  and
guaranteed bonus during the then-remaining term of the agreement plus a one time
severance  payment  equal to his  then-current  annual base  salary,  as well as
continuation  at the  Company's  expense  of Mr.  Holland  participation  in the
benefit programs described above.
Item 9.01  Financial Statements and Exhibits.

(c)   Exhibits

The following  exhibits are furnished in accordance  with the provisions of Item
601 of Regulation S-B:

-----------     ----------------------------------------------------------------
Exhibit No.     Description
-----------     ----------------------------------------------------------------

10.1            Employment Agreement

99.1            Press Release dated August 17, 2006
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: August 22, 2006                  ALTERNATIVE ENERGY SOURCES, INC.

                                        By: /s/ Mark Beemer
                                           -------------------------------------
                                        Name: Mark Beemer
                                        Title: Chief Executive Officer
Exhibit Index

-----------     ----------------------------------------------------------------
Exhibit No.     Description
-----------     ----------------------------------------------------------------

10.1            Employment Agreement

99.1            Press Release dated August 17, 2006