SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C. 20549

                                FORM 10-Q

[x]     Quarterly Report Pursuant to Section 13 or 15(d) Securities
Exchange Act of 1934 for Quarterly Period Ended September 30, 2009
-OR-
 [ ]     Transition Report Pursuant to Section 13 or 15(d) of the
Securities And Exchange Act of 1934 for the transaction period from
_________ to________

Commission File Number             000-51489

                        Earth Energy Reserves, Inc.
              (formerly Asian American Business Development Company)
               (Exact name of Small Business Issuer 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

Indicate by check mark whether the issuer (1) filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
Yes  [x]      No [ ]

Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every
Interactive Data File required to be submitted and posted pursuant to
Rule 405 of Regulation S-T (section 232.405 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  [ ]      No [x]

Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerate filer, or a small
reporting company as defined by Rule 12b-2 of the Exchange Act):

Large accelerated filer [ ]      Non-accelerated filer [ ]
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]

The number of outstanding shares of the registrant's common stock,
September 23, 2010:

  Common Stock  -  11,059,982



<PAGE>2
Earth Energy Reserves, Inc.
FORM 10-Q
For the quarterly period ended September 30, 2009
INDEX

                                                             Page
                                                             ----

PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements (Unaudited)                      3
Item 2.  Management's Discussion and Analysis of
           Financial Condition and Results of Operations       8
Item 3.  Quantitative and Qualitative Disclosure About
           Market Risk                                        10
Item 4T. Controls and Procedures                              10

PART II - OTHER INFORMATION
Item 1.  Legal Proceedings                                    12
Item 1A. Risk Factors                                         12
Item 2.  Unregistered Sales of Equity Securities and Use
           of Proceeds                                        12
Item 3.  Defaults upon Senior Securities                      12
Item 4.  Submission of Matters to a Vote of Security
           Holders                                            12
Item 5.  Other Information                                    12
Item 6.  Exhibits                                             12

SIGNATURES



<PAGE>3
PART I
Item I - FINANCIAL STATEMENTS

EARTH ENERGY RESERVES, INC.
BALANCE SHEETS


ASSETS
<TABLE>
                                                       September 30,   December 31,
                                                           2009            2008
                                                       -----------      ---------
                                                        (Unaudited)     (Audited)

                                                         <c>             <c>
CURRENT ASSETS
  Cash                                                   $      990     $    8,394
                                                         ----------     ----------
      TOTAL CURRENT ASSETS                                      990          8,394
                                                         ----------     ----------
      TOTAL ASSETS                                       $      990     $    8,394
                                                         ==========     ==========

LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
  Compensation Payable                                   $   75,000     $   75,000
  Notes Payable to Related Party                             92,187         78,223
  Advances from Majority Shareholder                         32,450         32,450
  Accrued Expenses                                           30,893         30,893
  Accrued Interest                                           22,482         15,732
  Accrued Interest, Related Party                             4,538          2,596
                                                         ----------     ----------
      TOTAL CURRENT LIABILITIES                             257,550        234,894
                                                         ----------     ----------
STOCKHOLDERS' EQUITY
  Series A Preferred Stock $.0001 Par Value
    Authorized 10,000,000 Shares, None Issued                     -              -
  Common Stock, $.0001 Par Value,
    Authorized, 90,000,000 Shares, Issued and
    Outstanding 9,467,000 and 9,422,000 in 2009
    and 2008, respectively                                      947            942
  Additional Paid-In-Capital                              5,547,353      5,502,358
  Retained (Deficit)                                     (5,804,860)    (5,729,800)
                                                         ----------     ----------
      TOTAL STOCKHOLDERS' DEFICIT                          (256,560)      (226,500)
                                                         ----------     ----------
      TOTAL LIABILITIES AND
       STOCKHOLDERS' DEFICIT                             $      990     $    8,394
                                                         ==========     ==========
</TABLE>
The accompanying notes are an integral
part of these financial statements.

<PAGE>4
EARTH ENERGY RESERVES, INC.
STATEMENTS OF OPERATIONS
(UNAUDITED)
<TABLE>

                           Three Months Ended        Nine Months Ended
                              September 30,           September 30,
                         ----------------------    ----------------------
                            2009         2008         2009         2008
                         ----------   ---------    ----------   ---------

                         <c>          <c>          <c>          <c>
INCOME
  Oil and Gas Income    $        -    $       -      $       -    $   3,592
                        ----------    ---------      ---------    ---------
EXPENSES
  Production Taxes               -            -              -         (143)
  General and Admin
    Expenses               (14,875)     (17,015)       (61,406)     (94,164)
                        ----------    ---------      ---------    ---------
NET OPERATING LOSS         (14,875)     (17,015)       (61,406)     (90,715)
                        ----------    ---------      ---------    ---------
OTHER INCOME (EXPENSE)
  Loss on Sale of Proved
    Property                     -            -              -       (9,948)
  Interest Expense          (4,619)      (5,101)       (13,654)     (12,615)
                        ----------    ---------      ---------    ---------
TOTAL OTHER INCOME
  (EXPENSE)                 (4,619)      (5,101)       (13,654)     (22,563)
                        ----------    ---------      ---------    ---------
LOSS BEFORE INCOME
  TAXES                    (19,494)     (22,116)       (75,060)    (113,278)
                        ----------    ---------      ---------    ---------
INCOME TAXES                     -            -              -            -
                        ----------    ---------      ---------    ---------
NET LOSS FROM
  OPERATIONS            $  (19,494)   $ (22,116)     $ (75,060)   $(113,278)
                        ==========    =========      =========    =========

BASIC AND DILUTED LOSS
PER SHARE               $    (0.00)   $   (0.00)     $   (0.01)   $   (0.01)
                        ==========    =========      =========    =========
WEIGHTED AVERAGE NUMBER
 OF COMMON SHARES
 OUTSTANDING -
 BASIC AND DILUTED       9,467,000    9,922,000      9,453,000   10,224,000
                         =========   ==========     ==========   ==========
</TABLE>
The accompanying notes are an integral
part of these financial statements.

<PAGE>5
EARTH ENERGY RESERVES, INC.
STATEMENTS OF CASH FLOWS
(UNAUDITED)
<TABLE>
                                              Nine Months Ended
                                                September 30,
                                              ------------------
                                              2009         2008

                                            <c>           <c>
CASH FLOWS FROM OPERATING
  ACTIVITIES
Net Loss for the Period                    $  (75,060)     $ (113,278)
  Adjustment to Reconcile Net Loss
    to Net Cash Used By Operating
    Activities
    Interest Expense - Related Party            4,964           3,922
    Interest Expense - Compensation Payable     6,750           6,750
    Interest Expense - Majority Shareholder     1,942           1,949
    Loss on Sale of Proved Property                 -           9,948
Changes in Operating Assets and
  Liabilities
    Accounts Receivable                             -           2,204
    Accrued Expenses                                -           8,036
    Advanced from Related Party                 9,000           9,000
                                           ----------      ----------
      NET CASH (USED BY)
       OPERATING ACTIVITIES                   (52,404)        (71,469)
                                           ----------      ----------
CASH FLOWS FROM INVESTING ACTIVITIES
  Sale of Proved Property                           -          63,202
                                           ----------      ----------
      NET CASH PROVIDED BY
        INVESTING ACTIVITIES                        -          63,202
                                           ----------      ----------
CASH FLOWS FROM
  FINANCING ACTIVITIES
    Re-purchase of Common Stock for Cash            -          (5,000)
    Common Stock Sold for Cash                 45,000               -
                                           ----------      ----------
      NET CASH PROVIDED BY (USED BY)
        FINANCING ACTIVITIES                   45,000          (5,000)
                                           ----------      ----------
NET (DECREASE) IN CASH                         (7,404)        (13,267)
CASH AT BEGINNING OF PERIOD                     8,394          45,089
                                           ----------      ----------
CASH AT END PERIOD                         $      990      $   31,822
                                           ==========      ==========
SUPPLEMENTAL CASH FLOW DISCLOSURES
    Cash Paid During the Period for:
      Interest                             $        -      $        -
                                           ==========      ==========
      Income Taxes                         $        -      $        -
                                           ==========      ==========
</TABLE>
The accompanying notes are an integral
part of the financial statements.

<PAGE>6
EARTH ENERGY RESERVES, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2009

NOTE 1: ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization
------------
Earth Energy Reserves, Inc. (formerly Asian American Business
Development Company) ("Company") was incorporated in the State of
Nevada on February 12, 2002 as Wiltex First, Inc.  On March 10, 2005,
the Company filed a certificate of amendment with the State of Nevada
changing its name to Asian American Business Development Company and,
on March 13, 2006 the Company's name was changed to Earth Energy
Reserves, Inc.

Galaxy Partners, LTD. (a company owned by the majority shareholder of
the Company) and the majority shareholder have managed and partially
financed the Company since inception.

Basis of Presentation
---------------------
The accompanying financial statements have been prepared in accordance
with generally accepted accounting principles for interim financial
information and with the instructions to Form 10-Q and Article 10 of
Regulation S-X.  Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting
principles for complete financial statements.  In the opinion of
management, all adjustments considered necessary for a fair
presentation have been included.  All such adjustments are of a normal
and recurring nature.  These financial statements should be read in
conjunction with the audited financial statements at December 31, 2008.
Operating results for the nine months ended September 30, 2009 are not
necessarily indicative of the results that may be expected for the
fiscal year ending December 31, 2009.

NOTE 2:  SUBSEQUENT EVENTS

The Company has evaluated subsequent events through September 23, 2010,
the date which the financial statements were available to be issued.

<PAGE>7

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS.

Trends and Uncertainties.  We intend to be an independent oil and
natural gas company engaged in the acquisition, drilling and production
of oil and natural gas in the United States.  Our future operations may
be adversely affected by our competitors, fluctuating oil prices,
changing foreign political environments and any prolonged recessionary
periods.

Investing Activities.  For the nine months ended September 30, 2009,
Earth Energy did not pursue any investing activities.

For the nine months ended September 30, 2008, Earth Energy sold oil and
gas leases of $63,202 resulting in net cash flows provided by investing
activities of $63,202.

Financing Activities.  During the nine months ended September 30, 2009,
Earth Energy sold common stock for cash of $45,000.  As a result, Earth
Energy had net cash provided by financing activities of $45,000.

During the nine months ended September 30, 2008, Earth Energy
repurchased common stock for $5,000.  As a result, Earth Energy had net
cash used by financing activities of $5,000.

Results of Operations.  Earth Energy has not had any material revenue
since inception.  All expenses have been paid by the majority
shareholder or a related party owned by the majority shareholder.

For the three months ended September 30, 2009 and 2008, Earth Energy
did not earn any revenues.  General and administrative expenses
decreased from $17,015 for the three months ended September 30, 2008 to
$14,875 for the three months ended September 30, 2009.  The decrease in
general and administrative expenses was due mainly to a significant
reduction in business activities.

For the nine months ended September 30, 2009, Earth Energy did not earn
any revenues.  For the nine months ended September 30, 2008, Earth
Energy had revenues of $3,592.  General and administrative expenses
decreased from $94,164 for the nine months ended September 30, 2008
compared to $61,406 for the nine months ended September 30, 2009.

Interest expense increased from $12,621 for the nine months ended
September 30, 2008 to $13,655 for the nine months ended September 30,
2009.  The increase of $1,034 was due to interest expense payable to a
related party and majority shareholder.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

Earth Energy does not consider the effects of interest rate movements
to be a material risk to our financial condition; does not hold any
derivative instruments; and does not engage in any hedging activities.

<PAGE>8

Item 4T.  Controls and Procedures.

During the three months ended September 30, 2009, there were no changes
in our internal controls over financial reporting (as defined in Rule
13a-15(f) and 15d-15(f) under the Exchange Act) that have materially
affected, or are reasonably likely to materially affect, our internal
control over financial reporting.

Evaluation of Disclosure Controls and Procedures

James E. Hogue, chairman of the board, who was chief executive officer
and chief financial officer and, therefore, responsible for all
financial and accounting matters during this reporting period has
concluded that the disclosure controls and procedures were not
effective as of September 30, 2009.  These controls are meant to ensure
that information required to be disclosed by the issuer in the reports
that it files or submits under the Act is recorded, processed,
summarized and reported, within the time periods specified in the
Commission's rules and forms and to ensure that information required to
be disclosed by an issuer in the reports that it files or submits under
the Act is accumulated and communicated to the issuer's management,
including its principal executive and principal financial officers, or
persons performing similar functions, as appropriate to allow timely
decisions regarding required disclosure.

Earth Energy has been delinquent in its SEC filings since the third
quarter of 2008.  Management has only recently prepared the required
delinquent reports.  Management intends to implement internal controls
to ensure that similar situations do not occur in the future and that
required SEC filings will be timely.

<PAGE>9

PART II - OTHER INFORMATION

Item 1. Legal Proceedings. not applicable.

Item 1A. Risk Factors.  not applicable

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
          not applicable.

Item 3. Defaults Upon Senior Securities.
          not applicable.

Item 4. Submission of Matters to a Vote of Security Holders.
          not applicable.

Item 5. Other Information.
Earth Energy's website, www.earthenergyreserves.com, is
currently under reconstruction.  Upon completion, Earth Energy
will post every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T.

Item 6. Exhibits

       Exhibit 31 - Certifications pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
       Exhibit 32 - Certifications pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002

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 thereunto duly authorized.

Earth Energy Reserves, Inc.

/s/James E. Hogue             Chairman of the Board        9/23/10
------------------------
James E. Hogue(1)

/s/Steven A. Kranker         Chief Executive Officer       9/23/10
------------------------
Steven A. Kranker(2)

/s/W.A. Sikora               Chief Financial Officer       9/23/10
------------------------
W.A. Sikora(2)

(1)Mr. Hogue was Chief Executive Officer and Chief Financial Officer
during this reporting period.
(2)Appointed officers of Earth Energy Reserves effective July 1, 2010