**U.S.
      Securities And Exchange Commission**


**Washington,
      D.C. 20549**





**Form
      10-QSB**





(check
      one)





x QUARTERLY
      REPORT
      PURSUANT TO SECTION 13 OR 15(d) OF THE


SECURITIES
      EXCHANGE ACT OF 1934





For
      the
      Quarterly Period Ended September 30, 2007





o TRANSITION
      REPORT
      PURSUANT TO SECTION 13 OR 15(d) OF


THE
      EXCHANGE ACT OF 1934





Commission
      File Number 000-23737





**Clickable
      Enterprises, Inc.**


(Exact
        Name Of Small Business Issuer As Specified In Its Charter)





**Delaware**


(State
      Or
      Other Jurisdiction Of


Incorporation
      Or Organization)





**82-0290939**


(I.R.S.
      Employer Identification No.)





**Two
      Madison Avenue, Larchmont, NY 10538**


(Address
      Of Principal Executive Offices)





**(914)
      833-9125**


(Issuer's
      Telephone Number)





Check
      whether the registrant (1) filed all reports required to be filed by Section
      13
      or 15(d) of the Exchange Act during the past 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 o**





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





As
      of
      October 13, 2007, there were 481,194,033 shares of the registrant's common
      stock, par value $.001 per share, issued and outstanding and 1,200 shares of
      the
      registrant’s series a preferred stock, par value $.001 per share, issued and
      outstanding.





Transmittal
      Small Business Disclosure Format (Check One):


**Yes o
      No x**


















**Clickable
      Enterprises, Inc.**


**Index
      To Form 10-QSB**






**Part
                I-Financial
                Information**


**Item
                  1.**
              Condensed
                  Consolidated Financial Statements (Unaudited)
              1Condensed
                  Consolidated Balance Sheets as of September 30, 2007 (Unaudited)
                  and March
                  31, 2007
              1Condensed
                  Consolidated Statements of Operations for the Three and Six Months
                  Ended
                  September 30, 2007 and 2006 (Unaudited)
              2Condensed
                  Consolidated Statements of Cash Flows for the Six Months Ended
                  September
                  30, 2007 and 2006 (Unaudited)
              3Condensed
                  Consolidated Statement of Changes in Stockholders’ Deficiency for the Six
                  Months Ended September 30, 2007 (Unaudited)
              5Notes
                  to Condensed Consolidated Financial Statements as of September
                  30, 2007
                  (Unaudited)
              6**Item
                  2.**
              Management’s
                  Discussion and Analysis or Plan of Operation
              10**Item
                  3.**
              Controls
                  and Procedures
              17
  **Part
                  II-Other Information**
 
 **Item
                  1.**
              Legal
                  Proceedings
              18**Item
                  2.**
              Unregistered
                  Sales of Equity Securities and Use of Proceeds
              18**Item
                  3.**
              Defaults
                  Upon Senior Securities
              18**Item
                  4.**
              Submission
                  of Matters to a Vote of Security Holders
              18**Item
                  5.**
              Other
                  Information
              18**Item
                  6.**
              Exhibits
              18







i


*In
      this report, the terms the “Company”, “we”, “our” and “us” refer to Clickable
      Enterprises, Inc. and unless the context otherwise requires, the Company’s
      wholly-owned subsidiary, ClickableOil.com, Inc.
      (“ClickableOil.com”).*





Cautionary
      Statement Regarding Forward-Looking Statements





*Certain
      statements in the "Management’s Discussion and Analysis or Plan of Operation"
      and elsewhere in this quarterly report constitute "forward-looking statements"
      (within the meaning of the Private Securities Litigation Reform Act of 1995
      (the
      "Act")) relating to us and our business, which represent our current
      expectations or beliefs including, but not limited to, statements concerning
      our
      operations, performance, financial condition and growth. The Act may, in certain
      circumstances, limit our liability in any lawsuit based on forward-looking
      statements that we have made. All statements, other than statements of
      historical facts, included in this quarterly report that address activities,
      events or developments that we expect or anticipate will or may occur in the
      future, including such matters as our projections, future capital expenditures,
      business strategy, competitive strengths, goals, expansion, market and industry
      developments and the growth of our businesses and operations are forward-looking
      statements. Without limiting the generality of the foregoing, words such as
      "may,” “believes,” ”expects,” "anticipates,” "could,” "estimates,” “grow,”
“plan,” "continue," “will,” “seek,” “scheduled,” “goal” or “future” or the
      negative or other comparable terminology are intended to identify
      forward-looking statements. These statements by their nature involve substantial
      risks and uncertainties, such as credit losses, dependence on management and
      key
      personnel, variability of quarterly results, our ability to continue our growth
      strategy and competition, certain of which are beyond our control. Any or all
      of
      our forward-looking statements may turn out to be wrong. They may be affected
      by
      inaccurate assumptions that we might make or by known or unknown risks or
      uncertainties. Should one or more of these risks or uncertainties materialize
      or
      should the underlying assumptions prove incorrect, actual outcomes and results
      could differ materially from those indicated in the forward-looking
      statements.*




*Because
      of the risks and uncertainties associated with forward-looking statements,
      you
      should not place undo reliance on them. Further, any forward-looking statement
      speaks only as of the date on which it is made, and we undertake no obligation
      to update any forward-looking statement to reflect events or circumstances
      after
      the date on which the statement is made or to reflect the occurrence of
      unanticipated events.*








ii




**Clickable
        Enterprises, Inc. And Subsidiary**
 **Condensed
        Consolidated Balance Sheets**
 **(Unaudited)**


**September
                30,**
            
            
            **March
                31,****2007**
            
            
            **2007****ASSETS**Current
                AssetsCash
            
            $
            167,820
            
            $
            119,639Accounts
                receivable, net of allowance for doubtful accounts of $166,000 and
                $151,000 respectively
            
            
            180,251
            
            
            795,710Inventory
            
            
            53,875
            
            
            67,769Prepaid
                expenses
            
            
            4,829
            
            
            61,625Due
                from related parties
            
            
            4,901
            
            
            68,331Debt
                financing costs, net of accumulated amortization of $73,423 and $52,312
                respectively
            
            
            66,577
            
            
            47,688Other
                current assets
            
            
            0
            
            
            0Total
                Current Assets
            
            $
            478,254
            
            $
            1,160,762Property
                and equipment, net of accumulated depreciation of $77,589 and $64,298
                respectively
            
            
            59,319
            
            
            72,610Intangible
                asset, net of accumulated amortization of $191,831 and $132,537
                respectively
            
            
            738,877
            
            
            798,171Other
                assets
            
            
            80,608
            
            
            80,108**TOTAL
                ASSETS**
            
            $
            1,357,058
            
            $
            2,111,651**LIABILITIES
                & STOCKHOLDERS' DEFICIENCY****Current
                Liabilities**Accounts
                payable and other accrued expenses
            
            $
            384,959
            
            $
            1,137,451Credit
                Lines
            
            
            0
            
            
            129,950Deferred
                Revenue
            
            
            28,773
            
            
            35,531Notes
                payable
            
            
            31,073
            
            
            105,112Due
                to related parties
            
            
            0
            
            
            0Customer
                deposits
            
            
            163,151
            
            
            114,160Accrued
                interest
            
            
            204,910
            
            
            77,157Convertible
                debentures (current portion)
            
            
            1,392,547
            
            
            749,784Total
                Current Liabilities
            
            $
            2,205,412
            
            $
            2,349,145**Long
                Term Liabilities**Convertible
                debentures
            
            $
            1,761,834
            
            $
            1,659,826Derivative
                Instrument Liabilities - Convertible Notes
            
            
            4,747,296
            
            
            2,765,915Derivative
                Instrument Liabilities - Warrants
            
            
            12,000
            
            
            0Other
                Accrued Expenses
            
            
            0
            
            
            0Notes
                payable
            
            
            0
            
            
            23,316Total
                Long Term Liabilities
            
            $
            6,521,130
            
            $
            4,449,057**TOTAL
                LIABILITIES**
            
            $
            8,726,542
            
            $
            6,798,202COMMITMENTS
                AND CONTINGENCIES
            
            $
            0
            
            $
            0Series
                A 6% convertible Preferred stock, $.001 par value,1,200
                shares authorized, issued and outstanding having a Redemption Value
                of
                $1,200,000.
            
            $
            1,171,657
            
            $
            1,171,657**STOCKHOLDERS'
                DEFICIENCY**Common
                stock, $.001 par value, 500,000,000 shares authorized481,194,033
                and 481,194,033 shares issued and outstanding,
                respectively
            
            $
            481,194
            
            $
            481,194Additional
                paid-in capital
            
            
            3,198,731
            
            
            3,198,731Deferred
                compensation
            
            
            94,492
            
            
            94,492Accumulated
                deficit
            
            
            (12,315,558
            )
            
            (9,632,624
            )**TOTAL
                STOCKHOLDERS' DEFICIENCY**
            
            
            ($8,541,142
            )
            
            ($5,858,207
            )**TOTAL
                LIABILITIES AND STOCKHOLDERS' DEFICIENCY**
            
            $
            1,357,058
            
            $
            2,111,651




See
        accompanying notes to condensed consolidated financial statements
  1
 
  **Clickable
            Enterprises, Inc. And Subsidiary**
 **Condensed
            Consolidated Statements Of Operations**
 **(Unaudited)**


**Three
                Months Ended**
            **Six
                Months Ended****September
                30,**
            **September
                30,****2007**
            
            
            **2006**
            
            
            **2007**
            
            
            **2006**NET
                FUEL SALES (including related party sales
            
            $
            658,745
            
            $
            994,609
            
            $
            1,855,528
            
            $
            1,964,487of
                $4,073 and $19,799 respectively)COST
                OF SALES
            
            
            664,447
            
            
            986,760
            
            
            1,813,696
            
            
            1,937,650GROSS
                PROFIT
            
            
            ($5,703
            )
            $
            7,849
            
            $
            41,832
            
            $
            26,837OPERATING
                EXPENSESSelling,
                general and administrative
            
            $
            234,929
            
            $
            353,521
            
            $
            572,146
            
            $
            768,773Depreciation
                and amortization
            
            
            47,992
            
            
            29,307
            
            
            93,696
            
            
            62,023TOTAL
                OPERATING EXPENSES
            
            $
            282,921
            
            $
            382,828
            
            $
            665,843
            
            $
            830,795LOSS
                FROM OPERATIONS
            
            
            ($288,624
            )
            
            ($374,979
            )
            
            ($624,011
            )
            
            ($803,959
            )OTHER
                INCOME (EXPENSE)Derivative
                Instrument Income (Expense)
            
            $
            2,801,417
            
            $
            913,175
            
            
            ($1,938,152
            )
            $
            2,656,783Other
                income
            
            
            25,664
            
            
            8,015
            
            
            29,776
            
            
            17,888Interest
                expense
            
            
            (72,099
            )
            
            (61,819
            )
            
            (150,547
            )
            
            (133,968
            )TOTAL
                OTHER INCOME (EXPENSE)
            
            $
            2,754,982
            
            $
            859,370
            
            
            ($2,058,924
            )
            $
            2,540,703Income
                (Loss) before provision for income taxes
            
            $
            2,466,358
            
            $
            484,391
            
            
            ($2,682,934
            )
            $
            1,736,744Provision
                for income taxes
            
            
            -
            
            
            -
            
            
            -
            
            
            -Net
                Income (Loss)
            
            $
            2,466,358
            
            $
            484,391
            
            
            ($2,682,934
            )
            $
            1,736,744Net
                Income (Loss) available to common stockholders
            
            $
            2,466,358
            
            $
            484,391
            
            $
            (2,682,934
            )
            $
            1,736,744Net
                Income (Loss) per share, basic and diluted
            
            $
            0.0051
            
            $
            0.0013
            
            $
            (0.0056
            )
            $
            0.0052Weighted
                average number of common sharesoutstanding
                - basic and diluted
            
            
            481,194,033
            
            
            380,530,958
            
            
            481,194,033
            
            
            332,406,935





See
      accompanying notes to condensed consolidated
      financial statements





2




**Clickable
        Enterprises, Inc. And Subsidiary**
 **Condensed
        Consolidated Statement Of Cash Flows**
 **(Unaudited)**





For
                The Six Months EndedSeptember
                30,2007
            
            
            2006**CASH
                FLOWS FROM OPERATING ACTIVITIES:**Net
                Income (Loss)
            
            
            ($2,682,934
            )
            $
            1,736,744**Adjustments
                to reconcile net loss to net cash used in operating
                activities:**Depreciation
                and amortization
            
            
            93,696
            
            
            62,023Provision
                for bad debts
            
            
            794
            
            
            35,352Recognition
                of deferred compensation
            
            
            0
            
            
            100,873Derivative
                Instrument (Income) Expense
            
            
            1,938,152
            
            
            (2,656,783
            )**Changes
                in operating assets and liabilities:****(Increase)
                decrease in:**Accounts
                receivable
            
            
            614,666
            
            
            257,050Inventory
            
            
            13,894
            
            
            (145,436
            )Prepaid
                expenses
            
            
            56,795
            
            
            (818
            )Other
                assets
            
            
            0
            
            
            3,668**Increase
                (decrease) in:**Accounts
                payable and accrued expenses
            
            
            (752,491
            )
            
            (347,734
            )Deferred
                Revenue
            
            
            (6,758
            )
            
            18,485Accrued
                interest
            
            
            127,753
            
            
            128,341Customer
                deposits
            
            
            48,991
            
            
            87,415Net
                cash used in operating activities
            
            
            ($547,443
            )
            
            ($720,821
            )**CASH
                FLOWS FROM INVESTING ACTIVITIES:**Acquisition
                of property and equipment
            
            $
            0
            
            
            ($5,872
            )Acquisition
                of other current assets
            
            
            (500
            )
            
            (17,108
            )Acquisition
                of intangible assets
            
            
            0
            
            
            0Net
                cash used in investing activities
            
            
            ($500
            )
            
            ($22,980
            )**CASH
                FLOWS FROM FINANCING ACTIVITIES:**Increase
                (Decrease) in Credit Lines
            
            
            ($129,950
            )
            $
            0Increase
                (decrease) in Notes Payable
            
            
            (97,355
            )
            
            (19,105
            )Decrease
                (Increase) in due from related parties
            
            
            63,430
            
            
            28,661Proceeds
                from issuance of convertible debentures
            
            
            800,000
            
            
            0Finance
                Charge - Convertible Debentures
            
            
            (40,000
            )
            
            0Net
                cash provided by (used in) financing activities
            
            $
            596,125
            
            $
            9,557**NET
                INCREASE (DECREASE) IN CASH**
            
            $
            48,182
            
            
            ($734,245
            )**CASH
                AT BEGINNING OF PERIOD**
            
            
            119,639
            
            
            1,001,903**CASH
                AT END OF PERIOD**
            
            $
            167,820
            
            $
            267,658





See
        accompanying notes to condensed consolidated
        financial statements


3


SUPPLEMENTAL
      DISCLOSURE OF CASH FLOW INFORMATION:





Income
      taxes paid for the six months ended September 30, 2007 and September 30, 2006
      were $0 and $0, respectively.





Interest
      paid for the six months ended September 30, 2007 and September 30, 2006 were
      $8,002  and
      $139,555, respectively.





NON-CASH
      INVESTING AND FINANCING ACTIVITIES:





During
      the six months ended September 30, 2007, stock
      purchase warrants exercisable for 10,000,000 shares of common stock were issued
      in connection with closings on $800,000 of convertible debentures  had
      no
      effect on cash.


See
        accompanying notes to condensed consolidated financial statements


4





**Clickable
        Enterprises, Inc. And Subsidiary**
 **Condensed
        Consolidated Statement Of Changes In**
 **Stockholders’
        Deficiency**
 **For
        The Six Months Ended September 30, 2007**
 **(Unaudited)**


**Common
                Stock**
            
            **Additional**
            
            
            **Accumulated**
            
            
            **Deferred
                Equity****Shares**
            
            
            **Amount**
            
            
            **Paid
                in Capital**
            
            
            **Deficit**
            
            
            **Compensation**
            
            
            **Total**Balance,
                April 1, 2007
            
            
            481,194,033
            
            $
            481,194
            
            $
            3,198,731
            
            
            ($9,632,624)
            
            $
            94,492
            
            
            ($5,858,207)Net
                Income (Loss) for the period
            
            
            
            
            
            
            
            
            
            
            
            (2,682,934)
            
            
            
            
            
            ($2,682,934)Balance,
                September 30, 2007
            
            
            484,194,033
            
            $
            481,194
            
            $
            3,198,731
            
            
            ($12,315,558)
            
            $
            94,492
            
            
            ($8,541,142)




See
        accompanying notes to condensed consolidated financial
        statements





5





**NOTE
      1.**  **SUMMARY
      OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION**





**(A)
      Organization and Recent Company History**





Clickable
      Enterprises, Inc., through its wholly-owned subsidiary ClickableOil.com, Inc.
      ("ClickableOil.com") (incorporated in the State of Delaware on April 4, 2000),
      provides a low cost and highly efficient means of servicing the heating oil
      market through an Internet-based approach. Clickable Enterprises, Inc. and
      ClickableOil.com, Inc. (collectively, the "Company") streamline the process
      of
      heating oil ordering and delivering through providing a more accessible point
      of
      contact for the customer. The Company subcontracts with local delivery companies
      to deliver heating oil to its customers.





**(B)
      Principles of Consolidation**





The
      condensed consolidated financial statements include the accounts of Clickable
      Enterprises, Inc. and its wholly-owned subsidiary ClickableOil.com, Inc.
      (collectively, the "Company").





**(C)
      Use of Estimates**





In
      preparing condensed consolidated financial statements in conformity with
      accounting principles generally accepted in the United States, management is
      required to make estimates and assumptions that affect the reported amounts
      of
      assets and liabilities and the disclosure of contingent assets and liabilities
      at the date of the condensed consolidated financial statements and revenues
      and
      expenses during the reported period. Actual results could differ from those
      estimates.





**(D)
      Income (Loss) Per Share**





Basic
      and
      diluted net income (loss) per common share for the six months ended September
      30, 2007 and 2006 are computed based upon the weighted-average number of common
      shares outstanding. The assumed conversion of common stock equivalents was
      not
      included in the computation of diluted income (loss) per share because the
      assumed conversion and exercise would be anti-dilutive due to net loss incurred
      for the six months ended September 30, 2007. Based on the closing market price
      of the Company’s common stock on September 2007 and 2006, the conversion of its
      convertible debentures and Series A convertible preferred stock would have
      resulted in the issuance of additional common shares in the amount of
      4,990,442,972 and 907,192,442, respectively. Additionally, 27.000,000 and
      17,000,000 stock purchase warrants were exercisable at September 30, 2007 and
      September 30, 2006, respectively, and also were not included in the
      weighted-average number of common shares outstanding.







**(E)
      Interim Condensed Consolidated Financial Statements**





The
      condensed consolidated financial statements as of and for the six months ended
      September 30, 2007 and 2006 are unaudited. In the opinion of management, such
      condensed consolidated financial statements include all adjustments (consisting
      only of normal recurring accruals) necessary for the fair presentation of the
      consolidated financial position and the consolidated results of operations.
      The
      consolidated results of operations for the six months ended September 30, 2007
      and 2006 are not necessarily indicative of the results to be expected for the
      full year. The consolidated balance sheet information as of March 31, 2007
      was
      derived from the audited consolidated financial statements included in the
      Company's annual report Form 10-KSB for the year ended March 31, 2007. The
      interim condensed consolidated financial statements should be read in
      conjunction with that report.





**NOTE
      2.**  **RELATED
      PARTY TRANSACTIONS**





During
      the six months ended September 30, 2007, the Company's due from (due to) related
      parties for oil purchases and interest bearing cash advances to/from NRG Heat
      & Power, LLC (“NRG”), NexGen Energy, LLC (“NexGen”) and Flaw, Inc. (“Flaw”),
      oil companies that are owned and managed by Messrs. Cirillo and Pipolo, officers
      of the Company, changed by  $63,430,
      with a balance of $4,901 included in due from related parties in current assets
      on September 30, 2007 compared to a balance of $68,331 included in due from
      related parties in current assets on March 31, 2007. As of September 30, 2007,
      accrued interest due to/from related parties was $0.





During
      the six months ended September 30, 2007 and 2006, the Company purchased oil
      for
      resale from NRG and Flaw in the amount of $407,246 and $281,699, respectively,
      or 27.0% and 17.0%, respectively, of total heating oil purchased, and had fuel
      sales to NRG, Nexgen and Flaw in the amount of $4,073  and  $19,799 , respectively.




6




**NOTE
      3.**  **CONVERTIBLE
      DEBENTURES**





The
      Company has issued secured convertible debentures, and issued stock purchase
      warrants, in connection with a number of financing transactions. Each of these
      issuances contain a conversion feature which results in a formula calculation
      and issuing varying amount of shares upon conversion, as such, the conversion
      features are required to be accounted for as embedded derivative liabilities
      in
      accordance with EITF 00-19, Accounting for Derivative Financial Instruments
      Indexed to and Potentially Settled in a Company’s Own Stock and SFAS 133,
      Accounting for Derivative Instruments and Hedging Activities.





During
      the six months ended September 30, 2007, $127,753 has been charged to interest
      expense.





As
      of
      September 30, 2007, the balance of accrued interest on all of the convertible
      debentures is $204,910 which is included in current liabilities. The total
      amount of convertible debentures as of September 30, 2007 is
      $3,485,491.





On
      May
      31, 2007, Clickable Enterprises, Inc. (the “Company”) entered into Securities
      Purchase Agreement (the “Purchase Agreement”) for the sale of $800,000 in its
      Callable Secured Convertible Notes (“Notes”) in a private placement to AJW
      Partners, LLC, AJW Offshore, Ltd., AJW Qualified Partners, LLC and New
      Millennium Capital Partners II, LLC (collectively, the “Investors”). In addition
      to the Notes, the Company issued warrants (the “Warrants”) exercisable for
      10,000,000 shares of the Company’s common stock, par value $.001 per share (the
“Common Stock”). The Warrants are exercisable for a period of seven years from
      the closing date at an exercise price of $0.002, subject to certain adjustments,
      including, but not limited to, adjustments for stock splits, stock dividends,
      mergers, consolidations and distributions. Closing under the Purchase Agreement
      occurred on May 31, 2007.





The
      Notes
      are convertible into shares of Common Stock in whole or in part from time to
      time at the option of the Investors at the Conversion Price then in effect.
      The
“Conversion Price” is equal to 40% of the average of the lowest three trading
      prices for the Common Stock during the previous twenty trading days ending
      one
      trading day prior to the date of a holder’s notice of conversion. The Conversion
      Price is subject to certain adjustments, including, but not limited to,
      adjustments for stock splits, stock dividends, mergers, consolidations and
      distributions.





The
      Notes
      bear interest at the rate of 8% per annum, payable quarterly; if, however,
      in
      any month, the trading price of the Common Stock is $.028125 or more for each
      trading day of the month, no interest will be payable for such month. The
      principal amount of the Notes and all accrued interest, if not previously paid
      or converted, will be due and payable on May 31, 2010.





The
      Company has granted the Investors a security interest in substantially all
      of
      its assets to secure its obligations under the Notes. The Company is obligated
      to file a registration statement registering the resale of the shares issuable
      upon conversion of the Notes upon demand by the Investors. The registration
      statement is required to be filed within thirty (30) days following demand
      by
      the Investors and to become effective within ninety (90) days after filing.
      The
      Company paid a $40,000 fee to an affiliate of the Investors in connection with
      this transaction.





**NOTE
      4**   **DERIVATIVE
      FINANCIAL INSTRUMENT LIABILITIES**





We
      use
      the Black-Scholes option pricing model to value options and warrants, and the
      embedded conversion option components of any bifurcated embedded derivative
      instruments that are recorded as derivative liabilities In valuing the options
      in warrants and the embedded conversion option components of the bifurcated
      embedded derivative instruments, at the time they were issued and at September
      30, 2007, we used the market price of our common stock on the date of valuation,
      an expected dividend yield of 0% and the remaining period to the expiration
      date
      of the options or warrants or repayment date of the convertible debt instrument.
      All options, warrants and conversion options can be exercised by the holder
      at
      any time.





Because
      of the limited historical trading period of our common stock, the expected
      volatility of our common stock over the remaining life of the options and
      warrants has been estimated at 66% based on a review of the historical
      volatility. The risk-free rates of return used ranged from 3.43% to 4.38% based
      on constant maturity rates published by the U.S. Federal Reserve, applicable
      to
      the remaining life of the options or warrants.




7




**Clickable
        Enterprises, Inc. And Subsidiary**
 **Notes
        To Condensed Consolidated Financial Statements**
 **As
        Of September 30, 2007**
 **(Unaudited)**




At
      September 30, 2007, the following derivative liabilities related to common
      stock
      options and warrants and embedded derivative instruments were
      outstanding.





Issue
                Date
            Expiry
                Date
            No.
                of Warrants
            Issued
                To
            Exercise
                Price per Share
            Value
                Issue Date
            Value
                September 30, 200706/06/2003
            06/05/2008
            1,500,000
            AJW
                Partners
            Various
            $0
            $011/03/2003
            11/03/2008
            1,500,000
            AJW
                Partners
            Various
            0
            001/16/2004
            01/16/2009
            1,000,000
            AJW
                Partners
            Various
            0
            006/30/2005
            06/30/2010
            6,500,000
            AJW
                Partners
            Various
            585,000
            011/14/2005
            11/14/2010
            2,500,000
            AJW
                Partners
            Various
            69,982
            003/21/2006
            03/21/2011
            4,000,000
            AJW
                Partners
            Various
            76,000
            005/31/2007
            05/31/2014
            10,000,000
            AJW
                Partners
            Various
            20,000
            12,000Fair
                value of derivative instrument liabilities for warrants
            $750,982
            $12,000





Issue
                Date
            Due
                Date
            Note
                Amount
            Instrument
            Exercise
                Price per Share
            Value-Issue
                Date
            Value
                September 30, 20073/31/2003
            10/15/2007
            1,717,949
            Convertible
                Notes
            Various
            $3,435,898
            $006/06/2003
            10/15/2007
            300,000
            Convertible
                Notes
            Various
            $600,000
            349,64011/03/2003
            10/15/2007
            300,000
            Convertible
                Notes
            Various
            600,000
            367,42201/16/2004
            10/15/2007
            200,000
            Convertible
                Notes
            Various
            400,000
            244,94806/30/2005
            06/30/2008
            650,000
            Convertible
                Notes
            Various
            1,598,361
            597,06111/14/2005
            11/14/2008
            250,000
            Convertible
                Notes
            Various
            489,510
            229,63903/21/2006
            03/21/2009
            1,000,000
            Convertible
                Notes
            Various
            2,083,333
            1,020,61610/15/2004
            10/15/2007
            1,200,000
            Convertible
                Preferred Stock
            Various
            1,411,765
            345,80905/31/2007
            05/31/2010
            800,000
            Convertible
                Notes
            Various
            1,523,810
            1,592,162Fair
                value of bifurcated embedded derivative instrument
                liabilities
            $12,142,677
            $4,747,296Total
                derivative financial instruments
            
            $12,893,659
            $4,759,296








**NOTE
      5.**  **COMMITMENTS
      AND CONTINGENCIES**





(A)
      Sales
      Commitments





At
      September 30, 2007, the Company has an aggregate obligation to deliver at
      varying prices approximately 150,000 gallons of heating oil to customers under
      fixed price contracts.





(B)
      Purchase Commitments





At
      September 30, 2007, the Company has an aggregate obligation to purchase
      approximately zero gallons of heating oil at varying prices under fixed price
      contracts.





**NOTE
      6.**  **GOING
      CONCERN**





The
      accompanying consolidated financial statements have been prepared on a going
      concern basis, which contemplates the realization of assets and the settlement
      of liabilities and commitments in the normal course of business.




8




As
      reflected in the accompanying consolidated financial statements, the Company
      had
      a net loss of $2,682,934 and a  negative
      cash flow from operations of $547,443 . for
      the
      six months ended September 30, 2007, as well a stockholders' deficiency of
      $8,541,142 at September 30, 2007. The ability of the Company to continue as
      a
      going concern is dependent on the Company's ability to raise additional capital
      through private or public transactions and implement its business plan. The
      accompanying consolidated financial statements do not include any adjustments
      that might be necessary if the Company is unable to continue as a going concern.
      Management's business plan includes increasing revenues by the addition of
      customers through marketing and advertising as well as acquisitions of
      competitors’ businesses. ****








9


**Item
      2.**  **Management's
      Discussion And Analysis Or Plan Of Operation**





The
      following is management's discussion and analysis of certain significant factors
      that will or have affected our financial condition and results of operations.
      Certain statements under this section may constitute "forward-looking
      statements". The following discussion should be read in conjunction with the
      audited financial statements and notes thereto included in the Company's Form
      10-KSB for the year ended March 31, 2007.





**FINANCIAL
      CONDITION**





We
      had a
      net loss of $2,682,934 and a net income of $1,736,744 during the six months
      ended September 30, 2007 and 2006, respectively. As of September 30, 2007,
      we
      had a cash balance of $167,820 and current liabilities of $2,205,412 with
      obligations aggregating $384,959 for trade creditors and accrued expenses,
      $204,910 in interest payable, $31,073 in a note payable, and $1,392,547 due
      to
      convertible debenture holders. In addition, we had total long-term obligations
      in the amount of $1,761,834 to convertible debenture holders. We are not certain
      that our available cash will be sufficient for the next twelve-month period
      to
      meet our working capital needs, including funds needed to (a) attract additional
      customers through marketing and promotional efforts or (b) acquire customer
      lists.





Our
      independent auditors have added an explanatory paragraph to their audit opinions
      issued in connection with our consolidated financial statements for the fiscal
      years 2007 and 2006, which states that our ability to continue as a going
      concern depends upon our ability to resolve liquidity problems, principally
      by
      obtaining capital, increasing sales and generating sufficient revenues to become
      profitable. Our ability to obtain additional funding, as well as attracting
      additional customers as described above, will determine our ability to continue
      as a going concern. Our financial statements do not include any adjustments
      that
      might result from the outcome of this uncertainty.





**RELATED
      PARTY TRANSACTIONS**





During
      the six months ended September 30, 2007, the Company's due from (due to) related
      parties for oil purchases and interest bearing cash advances to/from NRG Heat
      & Power, LLC (“NRG”), NexGen Energy, LLC (“NexGen”) and Flaw, Inc. (“Flaw”),
      oil companies that are owned and managed by Messrs. Cirillo and Pipolo, officers
      of the Company, changed by  $63,430,
      with a balance of $4,901 included in due from related parties in current assets
      on September 30, 2007 compared to a balance of $68,331 included in due from
      related parties in current assets on March 31, 2007. As of September 30, 2007,
      accrued interest due to/from related parties was $0.





During
      the six months ended September 30, 2007 and 2006, the Company purchased oil
      for
      resale from NRG and Flaw in the amount of $407,246 and $281,699, respectively,
      or 27.0% and 17.0%, respectively, of total heating oil purchased, and had fuel
      sales to NRG, Nexgen and Flaw in the amount of $4,073  and  $19,799 , respectively.





**COMPARISON
      OF THE THREE MONTHS ENDED SEPTEMBER 30, 2007 TO THE THREE MONTHS ENDED SEPTEMBER
      30, 2006**





**Overall
      Results Of Operations**





For
      the
      three months ended September 30, 2007, we realized a net income of $2,466,358
      an
      increase of $1,981,967 from the net income of $484,391 for the comparable prior
      year period. These results included non-cash income of  $2,801,417
      and $913,175, respectively, for derivative instrument income  and
      non-cash charges of $0 and $46,270, respectively, for amortization of stock
      issued to consultants as deferred compensation.  This
      net
      increase is primarily attributable to the non-cash income derived from the
      valuation of the derivative instruments.





**Sales**





Total
      net
      sales for the three months ended September 30, 2007 were $658,745 compared
      to
      $994,609 for the three months ended September 30, 2006. The decrease of
      $335,864, or 33.8%,  can
      be
      attributed to a 37.9% decrease in gallons sold offset by a 6.7% increase in
      the
      average selling price per gallon of heating oil.  The
      decrease in gallons sold is attributable to  Management’s
      decision to discontinue sales to several large volume, low profit
      accounts .





10


**Gross
      Profit**





Gross
      profit decreased to ($5,703) for the three months ended September 30, 2007
      compared to $7,849 for the three months ended September 30, 2006, or
      $13,552 , with
      gross margin decreasing to (0.9%) from 0.8% for the period. This decrease is
      predominantly due to a sharp spike in transportation expenses for the three
      months ended September 30, 2007. This is further compounded by lower product
      margins. These margins are lower than historical levels and are principally
      due
      to the continued increase in product costs caused by world market
      conditions.  Heating
      oil retailers generally cannot raise selling prices as quickly as product costs
      increase in a rising market; conversely, selling prices generally do not fall
      as
      quickly as product costs decrease in a falling market.





**Operating
      Expenses**





Total
      operating expenses decreased to $282,921 for the three months ended September
      30, 2007, from $382,828 for the three months ended September 30, 2006, or
      $99,907, primarily attributable to decreased employee compensation of
      $13,905,  decreased
      insurance of $8,986,  decrease
      in bad debt of  $25,814 , and
      decreased professional fees of $12,145 and decreased advertising of $28,576
      offset by an increase of $16,685 in amortization costs.





**Other
      Income (Expense)**





Non-cash
      income  from
      the
      valuation of the  derivative  instruments
      in the amount of $2,801,417 was recognized for the three months ended September
      30, 2007 as compared to income of $913,175 for the three months ended September
      30, 2006.





**COMPARISON
      OF THE SIX MONTHS ENDED SEPTEMBER 30, 2007 TO THE SIX MONTHS ENDED SEPTEMBER
      30,
      2006**





**Overall
      Results Of Operations**





For
      the
      six months ended September 30, 2007, we realized a net loss of $2,682,934,
      a
      decrease of $4,419,678 from the net income of $1,736,744 for the comparable
      prior year period. These results included non-cash income (expense)
      of  ($1,938,152)
      and $2,656,783, respectively, for derivative instrument income
      (expense),  and
      non-cash charges of $0 and $100,873, respectively, for amortization of stock
      issued to consultants as deferred compensation.  This
      net
      decrease is primarily attributable to the non-cash expense derived from the
      valuation of the derivative instruments partially offset by a decrease in
      selling, general and administrative expenses and a decrease in non-cash
      charges.





**Sales**





Total
      net
      sales for the six months ended September 30, 2007 were $1,855,528 compared
      to
      $1,964,487 for the six months ended September 30, 2006. The decrease of
      $108,959, or 5.5%,  can
      be
      attributed to a 10.4% decrease in gallons sold offset by a 5.4% increase in
      the
      average selling price per gallon of heating oil.  The
      decrease in gallons sold is attributable to  Management’s
      decision to discontinue sales to several large volume, low profit
      accounts .





11


**Gross
      Profit**





Gross
      profit increased to $41,832 for the six months ended September 30, 2007 compared
      to $26,837 for the six months ended September 30, 2006, or $14,995 , with
      gross margin increasing to 2.3% from 1.4% for the period. Despite the increase,
      these margins are lower than historical levels and are principally due to the
      continued increase in product costs caused by world market conditions and rising
      transportation expenses.  Heating
      oil retailers generally cannot raise selling prices as quickly as product costs
      increase in a rising market; conversely, selling prices generally do not fall
      as
      quickly as product costs decrease in a falling market.





**Operating
      Expenses**





Total
      operating expenses decreased to $665,843 for the six months ended September
      30,
      2007, from $830,795 for the six months ended September 30, 2006, or $164,952,
      primarily attributable to decreased employee compensation of
      $28,637,  decreased
      insurance of $18,934,  decrease
      in bad debt of  $34,558 , and
      decreased professional fees of $65,141 offset by an increase of $31,673 in
      amortization costs.





**Other
      Income (Expense)**





Non-cash
      expense  from
      the
      valuation of the  derivative  instruments
      in the amount of $1,938,152 was recognized for the six months ended September
      30, 2007 as compared to income of $2,656,783 for the six months ended September
      30, 2006.





**Seasonality**





Profitability
      is negatively affected by the seasonality of our business whereby the first
      two
      quarters of our fiscal year are traditionally the slowest quarters for
      deliveries of fuel oil due to warmer weather conditions in our market, the
      northeastern United States. Demand increases substantially in the third quarter
      and peaks in the fourth quarter of each fiscal year.





**Off-Balance
      Sheet Arrangements**





The
      Company has no off-balance sheet arrangements that have or are reasonably likely
      to have a current or future effect on the Company’s financial condition, changes
      in financial condition, revenue or expenses, results of operations, liquidity,
      capital expenditures or capital resources that is material to investors, and
      the
      Company does not have any non-consolidated special purpose
      entities.





**LIQUIDITY
      AND CAPITAL RESOURCES**





As
      of
      September 30, 2007, we had a cash balance of $167,820 and a negative cash flow
      from operations of $547,443 for the six month period then ended. Since inception
      through the period ended September 30, 2007, we have financed our operations
      through private placements of debt and equity, as well as loans from related
      parties. Most recently, on May 31, 2007, the Company entered in a Securities
      Purchase Agreement for the sale of $800,000 of three-year secured convertible
      debentures and closed on the sale of convertible debentures of that amount,
      before expenses, on May 31, 2007. We are not certain that our cash balance
      at
      September 30, 2007 will be sufficient for the next twelve-month period to meet
      our working capital needs, including funds needed to (a) attract additional
      customers through marketing and promotional efforts or (b) acquire customer
      lists.





The
      holders of Series A Preferred Stock are entitled to receive cumulative cash
      dividends of six percent (6%) per annum, payable in arrears on March 31, June
      30, September 30 and December 31 of each year, commencing December 31, 2004,
      out
      of funds legally available thereof. As of September 30, 2007, dividend arrearage
      on the Series A Preferred Stock aggregated approximately $213,041. The Company
      had a stockholders’ deficiency of $8,541,142 at September 30, 2007; accordingly
      it did not have legally available funds available to declare and pay a dividend.
      Other provisions relating to the Series A Preferred Stock include:





The
      notes
      to our condensed consolidated financial statements as of September 30, 2007
      contain footnote disclosure regarding an uncertainty with respect to our ability
      to continue as a going concern. We have not generated sufficient revenues to
      cover our expenses, and we have an accumulated deficit of $12,315,558. However,
      we believe that by concentrating on our core business of selling home heating
      oil, as well as by continuing to seek acquisitions of profitable businesses
      and
      the addition of customers through marketing and promotional efforts and
      reserving a portion of the proceeds of the recent sale of convertible
      debentures, we will generate sufficient revenues and liquidity for the Company
      to operate for the next twelve months. However, as of September 30, 2007, we
      had
      $2,248,346 of current liabilities and there can be no assurances that the
      Company will be successful in developing its business and achieving a profitable
      level of operations sufficient to meet its ongoing cash needs.




12





The
      Company has total liabilities and contractual obligations of $4,298,346 as
      of
      September 30, 2007. These contractual obligations, along with the dates on
      which
      such payments are due, are described below:


**Contractual
                  Obligations**
                ****(as
                  of September 30, 2007)******Total**
              
              
              **1
                  Year or Less**
              
              
              **More
                  Than 1 Year**Convertible
                  Debentures
              
              $
              3,485,481
              
              $
              1,435,481
              
              $
              2,050,000Accounts
                  Payable and Accrued Expenses
              
              
              384,959
              
              
              384,959
              
              
              --Note
                  Payable
              
              
              31,073
              
              
              31,073
              
              
              --Accrued
                  Interest
              
              
              204,910
              
              
              204,910
              
              
              --Other
              
              
              191,923
              
              
              191,923
              
              
              --Total
                  Contractual Obligations
              
              $
              4,298,346
              
              $
              2,248,346
              
              $
              2,050,000


The
      Company’s failure to develop its business and achieve a sufficiently profitable
      level of operations will likely have a material, adverse effect on the Company’s
      business, results of operations and financial condition and the Company’s
      ability to continue as a going concern. As a consequence of such failure, we
      may
      be forced to seek protection under the bankruptcy laws. In that event, it is
      unclear whether we could successfully reorganize our capital structure and
      operations, or whether we could realize sufficient value for our assets to
      satisfy our creditors in full. Accordingly, should we be forced to file for
      bankruptcy protection, there is no assurance that our stockholders would receive
      any value.





Below
      is
      a discussion of our sources and uses of funds for the six months ended September
      30, 2007 and 2006.





**Net
      Cash Used In Operating Activities**





Net
      cash
      used in operating activities was $547,443  and
      $720,821 in the six months ended September 30, 2007 and 2006, respectively.
      The
      use of cash in operating activities for the six months ended September 30,
      2007
      was principally the result of a net loss of $2,682,934  and
      a
      seasonable decrease in accounts payable and accrued expenses of $752,491
      partially offset by non-cash charges of  $1,938,152  for
      derivative instrument expense, a seasonable decreases in accounts receivable
      of  $614,666 , non-cash
      charges of  $94,490  and
      an
      increase in accrued interest of  $127,753 . The
      use
      of cash in operating activities for the six months ended September 30, 2006
      was
      principally the result of a net  income
      of
      $1,736,744 reduced by non-cash income of $2,656,783 and seasonable decreases
      in
      accounts payable of $347,734. This was partially offset by a seasonable decrease
      in accounts receivable of $257,050, non-cash charges of $198,248 and an increase
      in accrued interest of $128,341.





**Net
      Cash Used In Investing Activities**





During
      the six months ended September 30, 2007 and 2006, respectively, we used $0
      and
      $5,872 for the acquisition of property and equipment and $500 and $17,108 for
      the acquisition of other assets.





**Net
      Cash Provided By Financing Activities**





Net
      cash
      provided by financing activities for the six months ended September 30, 2007
      amounted to $596,125, principally attributable to the proceeds from convertible
      debentures of $760,000, net of financing costs and a net decrease  in
      related party receivables of $63,430. This was reduced by  decreases
      in an acquisition-related note payable and credit line balances. Net cash
      provided by financing activities for the six months ended September 30, 2006
      amounted to $9,557, attributable to a net decrease  in
      related party receivables and a decrease in an acquisition-related note
      payable.





13


**RISK
      FACTORS**




*RISKS
      RELATED TO OUR BUSINESS:*




*WE
      HAVE HAD LOSSES SINCE OUR INCEPTION. WE EXPECT LOSSES TO CONTINUE IN THE FUTURE
      AND THERE IS A RISK WE MAY NEVER BECOME PROFITABLE.*





For
      the
      six months ended September 30, 2007 and 2006, we had a net income (loss) of
      ($2,682,934)  and
      $1,736,744, respectively. For the fiscal years ended March 31, 2007 and 2006,
      we
      had a net income (loss) of $3,389,153 and ($4,514,894), respectively. We expect
      to continue to incur significant operating losses until such time as the volume
      of heating oil sold increases and/or we add ancillary products or product lines
      to our business.





*OUR
      INDEPENDENT AUDITORS HAVE EXPRESSED DOUBT ABOUT OUR ABILITY TO CONTINUE AS
      A
      GOING CONCERN, WHICH MAY HINDER OUR ABILITY TO OBTAIN FUTURE FINANCING.*





In
      their
      report dated September 21, 2007 on our consolidated financial statements for
      the
      fiscal year ended March 31, 2007, our independent auditors have expressed doubt
      about our ability to continue as a going concern. Our ability to continue as
      a
      going concern is a result of recurring losses from operations, a stockholders'
      deficit, and requirement for a significant amount of capital financing to
      proceed with our business plan. Our ability to continue as a going concern
      is
      subject to our ability to generate a profit and/or obtain necessary funding
      from
      outside sources, including obtaining additional funding from the sale of our
      securities, increasing sales or obtaining loans where possible. The going
      concern qualification in the auditor's report increases the difficulty in
      meeting such goals and there can be no assurances that such methods will prove
      successful.





*OUR
      OPERATIONS ARE HAZARDOUS AND COULD EXPOSE US TO THE RISK OF MATERIAL
      LIABILITIES, LOST REVENUES OR INCREASED EXPENSES.*





There
      are
      risks associated with the handling of oil, such as operational hazards and
      unforeseen interruptions caused by events beyond our control. These include
      accidents, the breakdown or failure of equipment or processes, and catastrophic
      events. Liabilities incurred and interruptions in operations caused by the
      handling of oil, have the potential to materially impact our consolidated
      results of operations, financial position and liquidity.





*OUR
      OPERATIONS ARE HAZARDOUS AND COULD EXPOSE US TO THE RISK OF ENVIRONMENTAL
      LIABILITIES.*





There
      are
      environmental risks associated with the risks in the handling of oil mentioned
      above, which include injury or loss of life and extensive property or
      environmental damage. In addition, the general handling of oil has the potential
      for serious impact on human health and the environment.




*WE
      MAY HAVE TO CURTAIL OUR BUSINESS IF WE CANNOT FIND ADEQUATE FUNDING.*





While
      we
      are negotiating with the holders of our convertible debentures for additional
      financing, we currently have no legally binding commitments with any third
      parties to obtain any amount of additional equity or debt financing. Our
      principal stockholders have limited financial resources and may not be able
      to
      continue to lend funds to us. We may not be able to obtain any additional
      financing in the amounts or at the times that we may require the financing
      or,
      if we do obtain any financing, that it would be on acceptable terms because
      of
      the following:





·
            we
                have no additional assets to pledge as security for a loan;
                and




·
            we
                may be viewed as a high market
                risk.





As
      a
      result, we may not have adequate capital to implement future expansions, to
      maintain our current levels of operation or to pursue strategic acquisitions.
      Our failure to obtain sufficient additional financing could result in the delay
      or abandonment of some or all of our expansion and expenditures, which could
      harm our business and the value of our common stock.





*OUR
      BUSINESS OPERATIONS WILL BE HARMED IF WE ARE UNABLE TO OBTAIN ADDITIONAL
      FUNDING.*





Although
      we closed on $800,000 of convertible debentures on May 31, 2007, our business
      operations will be harmed if we are unable to obtain additional funding from
      related parties or from other investors or lenders. We do not know if additional
      financing will be available when needed, or if it is available, if it will
      be
      available on acceptable terms. Insufficient funds may prevent us from
      implementing our business strategy or may require us to delay, scale back or
      eliminate certain business opportunities for our product and services.





14




*RISKS
      RELATING TO OUR CURRENT FINANCING AGREEMENTS:*





*POSSIBILITY
      OF ANOTHER DEFAULT ON OUR CONVERTIBLE DEBENTURES*





Prior
      to
      a restructuring on October 15, 2004, convertible debentures issued in 2001,
      2002
      and September 2003 aggregating $2,517,949 had matured and were in
      default. **** There
      can
      be no assurance that we will be successful in generating the cash flow or
      raising the funds necessary to retire these debentures now with maturity dates
      of October 14, 2007 and the additional debentures issued during the fiscal
      years
      ended March 31, 2006 **** with
      maturity dates of September 30, 2008, November 14, 2008 and March 22, 2009
      along
      with the additional debentures issued on May 31, 2007. The debentures are
      collateralized by all of our assets and, in the event we are unable to repay
      or
      restructure these debentures, there is no assurance that the holders of the
      debentures will not institute legal proceedings to recover the amounts owed
      including foreclosure on our assets.





*THERE
      ARE A LARGE NUMBER OF SHARES UNDERLYING OUR CONVERTIBLE DEBENTURES, CONVERTIBLE
      PREFERRED STOCK AND WARRANTS THAT MAY BE AVAILABLE FOR FUTURE SALE AND THE
      SALE
      OF THESE SHARES MAY DEPRESS THE MARKET PRICE OF OUR COMMON STOCK.*





As
      of
      October 13, 2007, we had 481,194,033 shares of common stock issued and
      outstanding, outstanding convertible debentures and shares of convertible
      preferred stock that may be converted into an estimated 4,793,760,807 shares
      of
      common stock at current market prices, and outstanding warrants to purchase
      up
      to 27,000,000 shares of common stock. In addition, the number of shares of
      common stock issuable upon conversion of the outstanding convertible debentures
      may increase if the market price of our stock declines. The sale of these shares
      may adversely affect the market price of our common stock.





*THE
      CONTINUOUSLY ADJUSTABLE CONVERSION PRICE FEATURE OF OUR CONVERTIBLE DEBENTURES
      COULD REQUIRE US TO ISSUE A SUBSTANTIALLY GREATER NUMBER OF SHARES TO THE
      SELLING STOCKHOLDERS, WHICH WILL CAUSE DILUTION TO OUR EXISTING STOCKHOLDERS.*





Our
      obligation to issue shares upon conversion of our convertible securities is
      essentially limitless.





The
      following is an example of the number of shares of our common stock that is
      potentially issuable to the holders of our convertible debentures and
      convertible preferred stock, upon conversion of such securities and their
      subsequent exercise of warrants, based on market prices 25%, 50% and 75% below
      our current market price of $.0017 per share:





**Percentage
                Below Market**
            **Price
                Per Share**
            **Number
                of Shares Issuable**
            **Percentage
                of Outstanding Shares**25%
            $
                0.0013
            6,418,681,077
            9350%
            $
                0.0009
            9,614,521,615
            95%75%
            $
                0.0004
            19,202,043,230
            98





The
      issuance of shares upon conversion of the convertible debentures and convertible
      preferred stock and exercise of warrants may result in substantial dilution
      to
      the interests of other stockholders since the holders of such securities may
      ultimately convert and sell the full amount issuable on conversion. Although
      the
      holders of our convertible debentures, convertible preferred stock and warrants
      may not convert and/or exercise such securities if such conversion or exercise
      would cause them to own more than 4.99% of our outstanding common stock, this
      restriction does not prevent them from converting and/or exercising some of
      their holdings and then converting the rest of their holdings. In this way,
      the
      holders of our convertible debentures, convertible preferred stock and warrants
      could sell more than this limit while never holding more than this limit. There
      is no upper limit on the number of shares that may be issued which will have
      the
      effect of further diluting the proportionate equity interest and voting power
      of
      all holders of our common stock.





*IF
      WE
      ARE REQUIRED FOR ANY REASON TO REPAY OUR OUTSTANDING CONVERTIBLE DEBENTURES,
      WE
      WOULD BE REQUIRED TO DEPLETE OUR WORKING CAPITAL, IF AVAILABLE, OR RAISE
      ADDITIONAL FUNDS. OUR FAILURE TO REPAY THE CONVERTIBLE DEBENTURES, IF REQUIRED,
      COULD RESULT IN LEGAL ACTION AGAINST US, WHICH COULD REQUIRE THE SALE OF
      SUBSTANTIAL ASSETS.*




15




We
      entered into Securities Purchase Agreements for the sale of an aggregate of
      $3,500,000 of convertible debentures in fiscal years 2004, 2005, 2006 and 2008
      and assumed $1,717,949 of convertible debentures in the merger and
      recapitalization transaction with ClickableOil.com, Inc. that, less an aggregate
      reduction of $1,732,468 through September 30, 2007 due to conversions into
      shares of our common stock, are due and payable, with interest, on dates ranging
      from October 15, 2007 through May 31, 2010. Unless sooner converted into shares
      of our common stock, we are required to repay the convertible debentures. To
      do
      so, we would be required to use our working capital, if any at that time, and/or
      raise additional funds. If we were unable to repay the debentures when required,
      the debenture holders could commence legal action against us to recover the
      amounts due. Any such action may require us to curtail or cease operations.





*RISKS
      RELATING TO OUR COMMON STOCK:*





*OUR
      BOARD OF DIRECTORS CAN ISSUE PREFERRED STOCK WITHOUT STOCKHOLDER CONSENT AND
      DILUTE OR OTHERWISE SIGNIFICANTLY AFFECT THE RIGHTS OF EXISTING STOCKHOLDERS.*





Our
      certificate of incorporation provides that preferred stock may be issued from
      time to time in one or more series. Our Board of Directors is authorized to
      determine the rights, preferences, privileges and restrictions granted to and
      imposed upon any unissued series of preferred stock and the designation of
      any
      such shares, without any vote or action by our stockholders. The Board of
      Directors may authorize and issue preferred stock with voting power or other
      rights that could adversely affect the voting power or other rights of the
      holders of common stock. In addition, the issuance of preferred stock could
      have
      the effect of delaying, deferring or preventing a change in control, because
      the
      terms of preferred stock that might be issued could potentially prohibit the
      consummation of any merger, reorganization, sale of substantially all of our
      assets, liquidation or other extraordinary corporate transaction without the
      approval of the holders of the outstanding shares of the preferred stock.





*THE
      PRICE OF OUR COMMON STOCK MAY BE AFFECTED BY A LIMITED TRADING VOLUME AND MAY
      FLUCTUATE SIGNIFICANTLY.*





There
      is
      a limited public market for our common stock and there can be no assurance
      that
      an active trading market will develop. An absence of an active trading market
      could adversely affect our stockholders' ability to sell our common stock in
      short time periods, or possibly at all. Our common stock was only relisted
      by
      the NASD in March 2005, at which time trading resumed. In the foreseeable future
      our common stock is likely to experience significant price and volume
      fluctuations that could adversely affect its market price without regard to
      our
      operating performance. In addition, we believe that factors such as quarterly
      fluctuations in our financial results and changes in the overall economy or
      the
      condition of the financial markets could cause the price of our common stock
      to
      fluctuate substantially.





*OUR
      COMMON STOCK IS SUBJECT TO "PENNY STOCK" RULES.*





The
      Securities and Exchange Commission has adopted Rule 15g-9 which establishes
      the
      definition of a "penny stock," for the purposes relevant to us, as any equity
      security that has a market price of less than $5.00 per share or with an
      exercise price of less than $5.00 per share, subject to certain exceptions.
      For
      any transaction involving a penny stock, unless exempt, the rules require that:





Ÿ
            a
                broker or dealer approves a customer's account for transactions in
                penny
                stocks;





Ÿ
            the
                broker or dealer receive from the customer an agreement to the
                transaction, setting forth the identity and quantity of the penny
                stock to
                be purchased; and





Ÿ
            effective
                September 12, 2005, the broker or dealer wait for a period of not
                less
                than two business days after the broker or dealer sends such agreement
                before effecting a transaction in a penny stock by, for or with the
                account of the customer.





In
      order
      to approve a customer's account for transactions in penny stocks, the broker
      or
      dealer must





Ÿ
            obtain
                financial information and investment experience objectives of the
                customer;





Ÿ
            make
                a reasonable determination that the transactions in penny stocks
                are
                suitable for that customer and the customer has sufficient knowledge
                and
                experience in financial matters to be capable of evaluating the risks
                of
                transactions in penny stocks,





Ÿ
            provide
                a written statement to the customer which sets forth the basis on
                which
                the broker or dealer made the suitability determination,
                and





Ÿ
            receive
                the signed, written agreement from the customer prior to the transaction.





16




The
      broker or dealer must also deliver, prior to any transaction in a penny stock,
      a
      disclosure schedule prepared by the Securities and Exchange Commission relating
      to the penny stock market. Disclosures must include the risks of investing
      in
      penny stocks in both public offerings and in secondary trading, the commissions
      payable to both the broker-dealer and the registered representative, current
      quotations for the securities and the rights and remedies available to an
      investor in cases of fraud in penny stock transactions. Effective September
      12,
      2005, the broker or dealer must obtain from a customer a signed and dated
      acknowledgment of the customer’s receipt of the disclosure schedule before the
      broker or dealer may effect a transaction in a penny stock for such
      customer.








**Item
      3.**  **Controls
      And Procedures**





**(A)
      Evaluation Of Disclosure Controls And Procedures**





Prior
      to
      the filing of this Report on Form 10-QSB, an evaluation was performed under
      the
      supervision of and with the participation of the Company’s management, including
      the President and Chief Financial Officer, of the effectiveness of the Company’s
      disclosure controls and procedures. Based on the evaluation, the President
      and
      the Chief Financial Officer have concluded that, as of September 30, 2007,
      the
      Company’s disclosure controls and procedures were effective to ensure that
      information required to be disclosed by the Company in reports that it files
      or
      submits under the Securities Exchange Act of 1934, as amended, is recorded,
      processed, summarized and reported within the time periods specified in SEC
      rules and forms. It should be noted that the design of any system of controls
      is
      based in part upon certain assumptions about the likelihood of future events,
      and there can be no assurance that any design will succeed in achieving its
      stated goals under all potential future conditions, regardless of how remote.





**(B)
      Changes In Internal Controls**





During
      the six months ended September 30, 2007, there were no significant changes
      in
      the Company’s internal control over financial reporting that have materially
      affected, or are reasonably likely to materially affect, the Company’s internal
      control over financial reporting.


17




**Part
      II-Other Information**





**Item
      1.**  **Legal
      Proceedings**





None.





**Item
      2.**  **Unregistered
      Sales Of Equity Securities And Use Of Proceeds**





**None**




**Item
      3.**  **Defaults
      Upon Senior Securities**





None.





**Item
      4.****Submission
      Of Matters To A Vote Of Security Holders******





None.





**Item
      5.**  **Other
      Information**





None.





**Item
      6.**  **Exhibits**





**Exhibit
                No.**
            **Description****(1)**3(i)(a)
            Articles
                of Incorporation (Incorporated by reference to our Registration Statement
                on Form 10-SB filed February 6, 1998).3(i)(b)
            Certificate
                of Amendment (Incorporated by reference to our Registration statement
                on
                Form SB-2/A filed on May 14, 2004).3(i)(c)
            Certificate
                of Designations, Preferences, and Rights of Series A Convertible
                Preferred
                Stock of Clickable Enterprises, Inc. (Incorporated by reference to
                our
                Current Report on Form 8-K filed November 16, 2004)3(ii)
            Bylaws
                (Incorporated by reference to our Registration Statement on Form
                10-SB
                filed February 6, 1998).4.1
            Silver
                Ramona Mining, Inc. 10% Secured Convertible Debenture due September
                29,
                2003 in the principal sum of $794,119.79, issued to AJW Partners,
                LLC
                (Incorporated by reference to our Registration Statement on Form
                SB-2
                filed August 3, 2001).4.2
            Silver
                Ramona Mining, Inc. 10% Secured Convertible Debenture due September
                29,
                2003 in the principal sum of $398,829.30, issued to AJW Partners,
                LLC
                (Incorporated by reference to our Registration Statement on Form
                SB-2
                filed August 3, 2001).4.3
            Silver
                Ramona Mining, Inc. 10% Secured Convertible Debenture due August
                13, 2003
                in the principal sum of $125,000, issued to New Millennium Capital
                Partners II, LLC (Incorporated by reference to our Current Report
                on Form
                8-K, filed August 14,2001).4.4
            Silver
                Ramona Mining, Inc. 10% Secured Convertible Debenture due August
                13, 2003
                in the principal sum of $125,000, issued to AJW Partners, LLC
                (Incorporated by reference to our Current Report on Form 8-K, filed
                August
                14, 2001).4.5
            Security
                Agreement among the Company and the Initial Purchasers (Incorporated
                by
                reference to our Current Report on Form 8-K, filed July 17, 2001).4.6
            Intellectual
                Property Security Agreement among the Company and the Initial Purchasers
                (Incorporated by reference to our Current Report on Form 8-K, filed
                July
                17, 2001).






18




4.7
            Secured
                Convertible Debenture Purchase Agreement dated as of May 8, 2002
                among the
                Company and AJW Partners, LLC, New Millennium Capital Partners II,
                LLC,
                Pegasus Capital Partners, LLC and AJW/New Millennium Offshore Ltd.
                (the
                "Subsequent Purchasers") (Incorporated by reference to our Registration
                Statement on SB-2 filed September 21, 2002).4.8
            Registration
                Rights Agreement dated as of May 8, 2002, among the Company and the
                Subsequent Purchasers (Incorporated by reference to our Registration
                Statement on SB-2 filed September 21, 2002).4.9
            Achievement
                Tec Holdings, Inc. 10% Secured Convertible Debenture due May 8, 2003
                in
                the principal sum of $37,500, issued to New Millennium Capital Partners
                II, LLC (Incorporated by reference to our Registration Statement
                on SB-2
                filed September 21, 2002).4.10
            Achievement
                Tec Holdings, Inc. 10% Secured Convertible Debenture due May 8, 2003
                in
                the principal sum of $37,500, issued to AJW Partners, LLC (Incorporated
                by
                reference to our Registration Statement on SB-2 filed September 21,
                2002).4.11
            Achievement
                Tec Holdings, Inc. 10% Secured Convertible Debenture due May 8, 2003
                in
                the principal sum of $112,500, issued to Pegasus Capital Partners,
                LLC
                (Incorporated by reference to our Registration Statement on SB-2
                filed
                September 21, 2002).4.12
            Achievement
                Tec Holdings, Inc. 10% Secured Convertible Debenture due May 8, 2003
                in
                the principal sum of $112,500, issued to AJW/New Millennium Offshore
                Ltd.
                (Incorporated by reference to our Registration Statement on SB-2
                filed
                September 21, 2002).4.13
            Security
                Agreement among the Company and the Subsequent Purchasers (Incorporated
                by
                reference to our Registration Statement on SB-2 filed September 21,
                2002).4.14
            Intellectual
                Property Security Agreement among the Company and the Subsequent
                Purchasers (Incorporated by reference to our Registration Statement
                on
                SB-2 filed September 21, 2002).4.15
            Securities
                Purchase Agreement among the Company and AJW Partners, LLC, AJW Offshore,
                Ltd., AJW Qualified Partners, LLC and New Millennium Capital Partners
                II,
                LLC, dated September 30, 2006 (Incorporated by reference to our Form
                10-QSB for the period ended September 30, 2006 filed on August 24,
                2005).4.16
            Form
                of Callable Secured Convertible Note entered into in connection with
                Exhibit 4.15 (Incorporated by reference to our Form 10-QSB for the
                period
                ended September 30, 2006 filed on August 24, 2005).4.17
            Form
                of Stock Purchase Warrant entered into in connection with Exhibit
                4.15
                (Incorporated by reference to our Form 10-QSB for the period ended
                September 30, 2006 filed on August 24, 2005).4.18
            Security Agreement among the Company and AJW
                Partners,
                LLC, AJW Offshore, Ltd., AJW Qualified Partners, LLC and New Millennium
                Capital Partners II, LLC, dated September 30, 2006 (Incorporated
                by
                reference to our Form 10-QSB for the period ended September 30, 2006
                filed
                on August 24, 2005).4.19
            Securities Purchase Agreement among the Company
                and AJW
                Partners, LLC, AJW Offshore, Ltd., AJW Qualified Partners, LLC and
                New
                Millennium Capital Partners II, LLC, dated September 30, 2006 (filed
                herewith).4.20
            Form of Callable Secured Convertible Note entered
                into
                in connection with Exhibit 4.19 (filed herewith).4.21
            Form of Stock Purchase Warrant entered into in
                connection with Exhibit 4.15 (filed herewith).4.22
            Security
                Agreement dated May 31, 2007, entered into by and among Clickable
                Enterprises, Inc., AJW Partners, LLC, AJW Offshore, Ltd., AJW Qualified
                Partners, LLC and New Millennium Capital Partners II, LLC (filed
                herewith).31.1
            Rule
                13a-14(a) Certification of Nicholas Cirillo, Jr., Chief Executive
                Officer
                (filed herewith).31.2
            Rule
                13a-14(a) Certification of Guy Pipolo, Chief Financial Officer (filed
                herewith).32.1
            Certification
                Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section
                906 of
                the Sarbanes-Oxley Act of 2002 (filed herewith).32.2
            Certification
                Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section
                906 of
                the Sarbanes-Oxley Act of 2002 (filed
                herewith).





**(1)** In the
      case of incorporation by reference to documents filed by the registrant under
      the Securities Exchange Act of 1934, as amended, the registrant’s file number
      under the Exchange Act is 000-23737.




19


**S** **ignatures**





In
      accordance with the requirements of the Exchange Act, the registrant caused
      this
      report to be signed on its behalf by the undersigned, thereunto duly authorized.





**Clickable
      Enterprises, Inc.**





*By:
                /s/Nicholas Cirillo, Jr.*
              *---------------------------*
              *Name:
                Nicholas Cirillo, Jr.*
              *Title:
                President (Principal Executive Officer)*
              
              *Date:**November 2, 2007*
              
              *By:
                /s/Guy Pipolo*
              *------------------------*
              *Name:
                Guy Pipolo*
              *Title:
                Chief Financial Officer (Principal Accounting Officer)*
              
              *Date:* *November
                2, 2007*







20