ableauctions-8k_020310.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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): February 3,
2010
ABLEAUCTIONS.COM,
INC.
(Exact
name of Registrant as specified in charter)
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Florida
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000-28179
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59-3404233
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification
Number)
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Suite
454 – 4111 Hastings Street
Burnaby, British Columbia
Canada V5C 2J3
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: 604-293-3933
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).
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
CFR240.14a-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
240.13(e)-4(c))
Item
8.01. Other
Events
As we
disclosed in a Current Report on Form 8-K filed on July 17, 2009, on that date
we entered into a Share Exchange Agreement with Abdul Ladha and Hanifa Ladha,
Top Favour Limited (“Top Favour”) and the shareholders of Top
Favour.
We and
the other parties to the Share Exchange Agreement have agreed to conduct the
closing of the share exchange and related transactions, including the initial
closing of an equity financing in the gross amount of $7 million, on February 5,
2010 (the “Closing Date”).
Assuming
the closing takes place as scheduled, trading in our common stock will be
suspended by NYSE Amex prior to the opening of the market on February 8,
2010. We anticipate that our post-transaction common stock will be
quoted on the OTC Bulletin Board on February 8, 2010 or shortly
thereafter.
On February 3, 2010 we issued a press
release relating to the closing of the share exchange with Top Favour and the
shareholders of Top Favour. A copy of the press release is attached
as Exhibit 99.1 to this Current Report on Form 8-K.
Item
9.01. Financial
Statements and Exhibits
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.
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ABLEAUCTIONS.COM,
INC.
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Date:
February 3, 2010
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By:
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/s/ Abdul
Ladha
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Abdul
Ladha
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Chief
Executive Officer
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