Two new Lycopodium alkaloids, (+)-cermizine D N-oxide (1) and (8β)-8-(acetyloxy)obscurumine A (2), along with five known compounds, were isolated from the crude alkaloid portion of Lycopodium obscurum. Their structures were elucidated on the basis of spectroscopic data and chemical correlation. All of these alkaloids were tested in an assay for acetylcholine esterase (AChE) inhibitory activity. Copyright © 2013 Verlag Helvetica Chimica Acta AG, Zürich.