UNITED STATES
                     SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549

                             Amendment 2 to
                               FORM 10-K

 [X]  15, ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended: June 30, 2010
 OR
 [ ]  15, TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from     to

                  Commission file number:       000-51489

                        Earth Energy Reserves, Inc.
        (formerly Asian American Business Development Company)
                            (Exact name of registrant in its charter)

          Nevada                          75-3000774
  (State or other jurisdiction of                           (I.R.S. Employer
    incorporation or organization                          Identification No.)

          621 17TH Street #1640
            Denver, CO                        80293
        (Address of principal executive offices)                 (Zip Code)

Registrant's Telephone number, including area code:  (303) 297-0500

Securities registered pursuant to Section 12(b) of the Act:  None
Securities registered pursuant to Section 12(g) of the Act:  Common
Stock, $.0001 par value

Indicate by check mark if the registrant is a well-known seasoned
issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [x]

Indicate by check mark if the registrant is not required to file
reports pursuant to Section 13 or 15(d) of the Exchange act
Yes [ ] No [x]

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Website, if any, every
Interactive Data File required to be submitted and posted pursuant to
Rule 405 of Regulation S-T (section 232.406 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was
required to submit and post such files).  Yes [x] No [ ]

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act during the preceding 12 months (or such shorter period that Dale
the registrant was required to file such reports), and (2) has been
subject to such filing requirements for at least the part 90 days.
Yes [ ] No[x]



<PAGE>2

Indicate by check mark if disclosure of delinquent filers in response
to Item 405 of Regulation S-K is not contained hereof, and will not be
contained, to will be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K.  [ ]

Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company.  See definitions of "large accelerated filer,"
"accelerated file" and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.  (Check one):

Large accelerated filer [ ] Accelerated filer         [ ]
Non-accelerated filer   [ ] Smaller reporting company [x]

Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [x]

State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at
which the common equity was last sold, or the average bid and asked
price of such common equity, as of the last business day of the
registrant's most recently completed second fiscal quarter. The market
value of the registrant's voting $.0001 par value common stock held by
non-affiliates of the registrant was approximately $0.00.

Indicate the number of shares outstanding of each of the registrant's
classes of common stock, as of the latest practicable date. The number
of shares outstanding of the registrant's only class of common stock,
as of September 30, 2010 was 11,059,982 shares of its $.0001 par value
common stock.

No documents are incorporated into the text by reference.

                         Explanatory Note

This amendment is being filed solely to correct a typo in the
certification under Section 906 of the Sarbanes-Oxley made in the
edgarization process.



<PAGE>48

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, as amended, Earth Energy has duly caused this
Report to be signed on its behalf by the undersigned duly authorized
person.

Date:    February 17, 2011

Earth Energy Reserves, Inc.

/s/Steven A. Kranker
------------------------------
By: Steven A. Kranker, President

Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, this report has been signed below by the following persons on
behalf of Earth Energy and in the capacities and on the dates
indicated.
<TABLE>

                                                               <c>
/s/James E. Hogue            Chairman of the Board             2/17/11
------------------------
James E. Hogue(1)

/s/Steven A. Kranker        Chief Executive Officer            2/17/11
------------------------          Director
Steven A. Kranker(2)

/s/James R. Phillips, Jr.    Vice President, Secretary         2/17/11
------------------------        Treasurer and Director
James R. Phillips, Jr.

/s/Doyle Pennington          Interim Chief Financial           2/17/11
------------------------       V.P. of Administration
                             and Investor Relations
                                     Director
</TABLE>
 (1)Mr. Hogue was Chief Executive Officer and Chief Financial Officer
during this reporting period.
(2)Appointed officer of Earth Energy Reserves effective July 1, 2010
(3)Appointed interim chief financial officer of Earth Energy Reserves
effective November 2, 2010