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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>UNITED STATES</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>Washington, D.C. 20549</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:16pt" align=center><B>FORM 8-K</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>CURRENT REPORT</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center>Date of Report (Date of earliest event reported): &nbsp;<B>September 22, 2003</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:14pt" align=center><B>Commission File Number: 000-28179</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:18pt" align=center><B>ABLEAUCTIONS.COM, INC.</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:8pt" align=center>________________________________________________________________________________________________</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:12pt" align=center>1963 Lougheed Highway, Coquitlam, British Columbia, Canada</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center>604-521-3369</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:8pt" align=center>_________________________________________________________________________________________________</P>
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<TABLE style="margin-left:36pt"><TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=367.2><P style="margin:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><B>Florida</B></P>
</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=367.2><P style="margin:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center><B>59-3404233</B></P>
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</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=367.2><P style="margin:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center>(IRS Employer Number)</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify>This Form 8-K and other reports filed by the Registrant from time to time with the Securities and Exchange Commission (collectively the &#147;Filings&#148;) contain forward looking statements and information that are based upon beliefs of, and information currently available to, the Registrant&#146;s management as well as estimates and assumptions made by the Registrant&#146;s management. &nbsp;When used in the Filings the words &#147;anticipate&#148;, &#147;believe&#148;, &#147;estimate&#148;, &#147;expect&#148;, &#147;future&#148;, &#147;intend&#148;, &#147;plan&#148; or the negative of these terms and similar expressions as they relate to the Registrant or the Registrant&#146;s management identify forward looking statements. &nbsp;Such statements reflect the current view of the Registrant with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to the Registrant&#146;s industry, operations and results of operations and any businesses that may be acquired by the Registrant. &nbsp;Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt" align=justify><B>Item 5.</B></P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:54pt; line-height:10pt; font-size:10pt" align=justify><B>Other Events&#151;Private Placement of Common Stock.</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify><U>$1.05 MILLION FINANCING</U></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify>On September 22, 2003, the Registrant completed the sale of 2.4 million shares of its common stock to select institutional investors, raising a total of $1.05 million. &nbsp;The per share offering price was $0.4375. &nbsp;The investors and the placement agent will also receive warrants to purchase an aggregate of 720,000 shares of common stock at an exercise price of $.54 per share. &nbsp;HPC Capital Management served as placement agent for the transaction.</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify>The securities issued in the private placement have not been registered under the Securities Act of 1933, as amended, and until so registered the securities may not be offered or sold in the United States absent registration or availability of an applicable exemption from registration. The Registration Rights Agreement requires Ableauctions.com, Inc. to prepare and file with the Securities and Exchange Commission a registration statement for the purpose of registering under the Securities Act of 1933 all of the shares of the Company&#146;s common stock that were sold to the investors pursuant to the Purchase Agreement as well as the shares of common stock issuable upon exercise of the warrants. </P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify>This announcement is not an offer to sell securities of Ableauctions.com, Inc., and any opportunity to participate in the private placement was available to a very limited group of investors. </P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify>The foregoing description of the private placement does not purport to be complete and is qualified in its entirety by reference to the Securities Purchase Agreement, the Registration Rights Agreement and the form of Common Stock Purchase Warrant, which are filed as Exhibits to this report and are incorporated herein by reference. The press release describing the private placement is attached hereto as Exhibit 99.1 and is incorporated herein by reference. </P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:0pt; line-height:10pt; font-size:10pt" align=justify><B>Item 7.</B></P>
<B><P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:10pt; font-size:10pt" align=justify>Exhibits</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-10pt; padding-left:45.8pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:10pt" align=justify>10.1</P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding-left:45.8pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:45.8pt; line-height:10pt; font-size:10pt" align=justify>Securities Purchase Agreement, dated September xx, 2003, by and among Ableauctions.com, Inc. and the investors named therein, including the Registration Rights Agreement attached as Exhibit A thereto and a form of Common Stock Purchase Warrant attached as Exhibit C thereto</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:-10pt; padding:0pt; text-indent:36pt; line-height:10pt; font-size:10pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;99.1 </P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:72pt; line-height:10pt; font-size:10pt" align=justify>Press Release</P>
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<A NAME="node2"></A><P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=center>SIGNATURES</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify>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.</P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify><B>ABLEAUCTIONS.COM, INC.</B></P>
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<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify>Abdul Ladha, Chief Executive Officer </P>
<P style="margin-left:36pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt" align=justify>Dated: &nbsp;September 22, 2003</P>
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UNITED STATES
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):
September 22, 2003
Commission File Number: 000-28179
ABLEAUCTIONS.COM, INC.
________________________________________________________________________________________________
1963 Lougheed Highway, Coquitlam, British Columbia, Canada
604-521-3369
_________________________________________________________________________________________________
Florida
59-3404233
(State or other jurisdiction of incorporation)
(IRS Employer Number)
This Form 8-K and other reports filed by the Registrant from time to time with the Securities and Exchange Commission (collectively the "Filings") contain forward looking statements and information that are based upon beliefs of, and information currently available to, the Registrant's management as well as estimates and assumptions made by the Registrant's management.  When used in the Filings the words "anticipate", "believe", "estimate", "expect", "future", "intend", "plan" or the negative of these terms and similar expressions as they relate to the Registrant or the Registrant's management identify forward looking statements.  Such statements reflect the current view of the Registrant with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to the Registrant's industry, operations and results of operations and any businesses that may be acquired by the Registrant.  Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.
Item 5.
Other Events—Private Placement of Common Stock.
$1.05 MILLION FINANCING
On September 22, 2003, the Registrant completed the sale of 2.4 million shares of its common stock to select institutional investors, raising a total of $1.05 million.  The per share offering price was $0.4375.  The investors and the placement agent will also receive warrants to purchase an aggregate of 720,000 shares of common stock at an exercise price of $.54 per share.  HPC Capital Management served as placement agent for the transaction.
The securities issued in the private placement have not been registered under the Securities Act of 1933, as amended, and until so registered the securities may not be offered or sold in the United States absent registration or availability of an applicable exemption from registration. The Registration Rights Agreement requires Ableauctions.com, Inc. to prepare and file with the Securities and Exchange Commission a registration statement for the purpose of registering under the Securities Act of 1933 all of the shares of the Company's common stock that were sold to the investors pursuant to the Purchase Agreement as well as the shares of common stock issuable upon exercise of the warrants.
This announcement is not an offer to sell securities of Ableauctions.com, Inc., and any opportunity to participate in the private placement was available to a very limited group of investors.
The foregoing description of the private placement does not purport to be complete and is qualified in its entirety by reference to the Securities Purchase Agreement, the Registration Rights Agreement and the form of Common Stock Purchase Warrant, which are filed as Exhibits to this report and are incorporated herein by reference. The press release describing the private placement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 7.
Exhibits
10.1
Securities Purchase Agreement, dated September xx, 2003, by and among Ableauctions.com, Inc. and the investors named therein, including the Registration Rights Agreement attached as Exhibit A thereto and a form of Common Stock Purchase Warrant attached as Exhibit C thereto
99.1
Press Release
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.
ABLEAUCTIONS.COM, INC.
Abdul Ladha, Chief Executive Officer
Dated:  September 22, 2003