Ableauctions.com Inc. reported earnings results for the second quarter and six months ended June 30, 2009. Revenues. During the three months ended June 30, 2009, the company had revenues of $550,787 compared to revenues of $849,859 during the same period in 2008, a decrease of $299,072 or 35%. The decrease in revenues is a result of a 14% decrease in revenues from the company's liquidation business and a 77% decrease in revenues from its Live Auction services. The company reported an operating loss of $291,253 or $0.05 per share for the three months ended June 30, 2009 as compared to a net loss of $457,151 or $0.10 per share for the three months ended June 30, 2008. For the six months ended June 30, 2009, the company had revenues of $1,192,134 compared to revenues of $1,647,747 during the same period in 2008, a decrease of $455,613 or 28%. The decrease in revenues is a result of a 47% decrease in revenues from the company's liquidation business and an 82% decrease in revenues from its Live Auction services. The company reported an operating loss of $459,043 or $0.08 per share for the six months ended June 30, 2009 as compared to a net loss of $651 202 or $0.13 per share for the six months ended June 30, 2008. Net cash used in operating activities was $489,853 compared to $787,898 in the previous year period. Cash invested in purchase of property and equipment was $4,005,519 compared to $1,369,893 in the previous year period.

Ableauctions.com Inc. announced today that it has entered into a License Agreement with Pacific Amber Technologies Inc. to subcontract its point of sale business which is currently carried out thru its subsidiary Rapidfusion Technologies Inc. The company stated that going forward; both parties will continue to look for a suitable buyer or partner for the Rapidfusion business. If the Company completes a sale or license of the Rapidfusion business, then PATI will receive a minimum of 25% of the consideration payable to the Company upon completion of the transaction. Pursuant to the strategic restructuring plan announced on August 14, 2008, the Company plans to enter into similar arrangements for its liquidation business in the coming quarter. The Company is also continuing its efforts to seek out a merger partner or acquire the assets of a privately held company. In the absence of a definitive transaction, the Company intends to continue managing its investment and real estate development portfolio.

Ableauctions.com Inc. is continuing its efforts to seek out a merger partner or acquire the assets of a privately held company. In the absence of a definitive transaction, the Company intends to continue managing its investment and real estate development portfolio.