================================================================================

                     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, 2005

            [ ] 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.)
                      ------------------------------------

                711 South Columbus Avenue, Mount Vernon, NY 10550
                -------------------------------------------------
                    (Address Of Principal Executive Offices)

                                 (914) 699-5190
                                 --------------
                           (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 [ ]

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

   As of November 11, 2005, there were 114,776,826 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 [ ] No [X]

================================================================================

<PAGE>

                           CLICKABLE ENTERPRISES, INC.
                              INDEX TO FORM 10-QSB


                          PART I-FINANCIAL INFORMATION

ITEM 1.   Condensed Consolidated Financial Statements (Unaudited)

          Condensed Consolidated Balance Sheets As Of September 30, 2005
           (Unaudited) And March 31, 2005

          Condensed Consolidated Statements Of Operations For The Three And
           Six Months Ended September 30, 2005 And 2004 (Unaudited)

          Condensed Consolidated Statements Of Cash Flows For The Six Months
           Ended September 30, 2005 And 2004 (Unaudited)

          Condensed Consolidated Statement Of Changes In Stockholders'
           Deficiency For The Six Months Ended September 30, 2005  (Unaudited)

          Notes To Condensed Consolidated Financial Statements As Of
           September 30, 2005 (Unaudited)

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

ITEM 3.   Controls And Procedures

                            Part II-Other Information

ITEM 1.   Legal Proceedings

ITEM 2.   Unregistered Sales Of Equity Securities And Use Of Proceeds

ITEM 3.   Defaults Upon Senior Securities

ITEM 4.   Submission Of Matters To A Vote Of Security Holders

ITEM 5.   Other Information

ITEM 6.   Exhibits


                                       i

<PAGE>


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
<PAGE>


                   CLICKABLE ENTERPRISES, INC. AND SUBSIDIARY
                      CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>
                                                                   September 30,       March 31,
                                                                       2005              2005
                                                                   -------------    -------------
                                                                    (Unaudited)
<S>                                                                <C>              <C>
ASSETS
Current Assets
      Cash                                                         $     180,576    $     372,909
      Accounts receivable, net of allowance for
        doubtful accounts of $26,430 and $8,379, respectively            122,931          311,858
      Inventory                                                           36,535           16,592
      Prepaid expenses                                                    60,188           23,276
      Due from related parties                                            16,626               --
      Debt financing costs, net of accumulated
        amortization of $6,250 and $0, respectively                       68,750               --
      Other current assets                                                58,477               --
                                                                   -------------    -------------
Total Current Assets                                                     544,084          724,635

Property and equipment, net                                               59,961           64,561
Intangible asset, net of accumulated
  amortization of $18,188 and $3,285, respectively                       700,302          192,465
Other assets                                                              68,575           69,260
                                                                   -------------    -------------
TOTAL ASSETS                                                       $   1,372,922    $   1,050,921
                                                                   =============    =============
LIABILITIES & STOCKHOLDERS' DEFICIENCY
Current Liabilities
      Accounts payable and other accrued expenses                  $     370,776    $     375,556
      Notes payable                                                       37,281          120,750
      Due to related parties                                                  --           14,711
      Customer deposits                                                  111,402           45,003
      Accrued interest                                                   552,054          437,382
                                                                   -------------    -------------
Total Current Liabilities                                              1,071,513          993,402
Long Term Liabilities
      Convertible debentures, net of discount of $595,833 and $0       2,370,161        2,517,949
      Other Accrued Expenses                                             100,000               --
      Notes payable                                                       86,684               --
                                                                   -------------    -------------
Total Long Term Liabilities                                            2,556,845        2,517,949
                                                                   -------------    -------------
TOTAL LIABILITIES                                                      3,628,358        3,511,351
                                                                   -------------    -------------

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' DEFICIENCY

      Series A 6% Cumulative Preferred stock, $.001 par value,
        1,200 shares authorized, issued and outstanding                        1                1
      Common stock, $.001 par value, 500,000,000
        shares authorized, 94,396,826 and 74,296,826 shares
        issued and outstanding, respectively                              94,397           74,297
      Additional paid-in capital                                       2,744,444        1,845,629
      Accumulated deficit                                             (5,094,278)      (4,380,357)
                                                                   -------------    -------------
TOTAL STOCKHOLDERS' DEFICIENCY                                        (2,255,436)      (2,460,430)
                                                                   -------------    -------------

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY                     $   1,372,922    $   1,050,921
                                                                   =============    =============
</TABLE>


      See accompanying notes to condensed consolidated financial statements
                                       1
<PAGE>


                   CLICKABLE ENTERPRISES, INC. AND SUBSIDIARY
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                 For The Three Months Ended       For The Six Months Ended
                                                        September 30,                  September 30,
                                                ----------------------------    ----------------------------
                                                    2005           2004             2005            2004
                                                ------------    ------------    ------------    ------------
<S>                                             <C>             <C>             <C>             <C>
NET FUEL SALES (including related party sales
   of $9,382 and $7,065, respectively)          $    375,505    $    119,135    $    782,391    $    350,230
COST OF SALES                                        352,447         117,510         743,159         324,132
                                                ------------    ------------    ------------    ------------
GROSS PROFIT                                          23,058           1,625          39,232          26,098
                                                ------------    ------------    ------------    ------------
OPERATING EXPENSES
  Selling, general and administrative                269,651         169,922         534,940         355,435
  Depreciation and amortization                       20,088          21,812          30,588          56,246
                                                ------------    ------------    ------------    ------------
TOTAL OPERATING EXPENSES                             289,739         191,734         565,528         411,681
                                                ------------    ------------    ------------    ------------
LOSS FROM OPERATIONS                                (266,681)       (190,109)       (526,296)       (385,583)

OTHER INCOME (EXPENSE)
  Other income                                        13,810               1          16,984              22
  Interest expense                                  (119,340)       (189,766)       (169,314)       (428,397)
                                                ------------    ------------    ------------    ------------
TOTAL OTHER (EXPENSE)                               (105,530)       (189,765)       (152,330)       (428,375)
                                                ------------    ------------    ------------    ------------

Loss before provision for income taxes              (372,211)       (379,874)       (678,626)       (813,958)

Provision for income taxes                                --              --              --              --
                                                ------------    ------------    ------------    ------------

NET LOSS                                            (372,211)       (379,874)       (678,626)       (813,958)

Amortization of beneficial conversion feature
   of Series A preferred stock                       (17,647)             --         (35,294)             --
                                                ------------    ------------    ------------    ------------

Net loss available to common stockholders       $   (389,858)   $  (379,874)    $  (713,920)    $   (813,958)
                                                ============    ============    ============    ============

Net loss per share, basic and diluted           $      (0.00)   $      (0.01)   $      (0.01)   $      (0.01)
                                                ============    ============    ============    ============

Weighted average number of common shares
   outstanding - basic and diluted                82,498,783      74,136,826      78,726,225      74,136,826
                                                ============    ============    ============    ============
</TABLE>


      See accompanying notes to condensed consolidated financial statements
                                       2
<PAGE>


                   CLICKABLE ENTERPRISES, INC. AND SUBSIDIARY
                 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                       For The Six Months Ended
                                                                             September 30,
                                                                      --------------------------
                                                                          2005           2004
                                                                      -----------    -----------
<S>                                                                   <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net loss                                                         $  (678,626)   $  (813,958)
     Adjustments to reconcile net loss to net cash used
      in operating activities:
        Depreciation and amortization                                      30,588         56,246
        Provision for bad debts                                            12,295         32,913
        Amortization of beneficial conversion debt discount expense        54,167        300,000

        Recognition of deferred compensation                                   --        118,750
     Changes in operating assets and liabilities:
     (Increase) decrease in:
        Accounts receivable                                               152,597         95,997
        Inventory                                                         (19,944)         1,234
        Prepaid expenses                                                   38,088         (2,595)
        Other assets                                                          685          6,078
     Increase (decrease) in:
        Accounts payable and accrued expenses                            (200,532)      (136,803)
        Accrued interest                                                  114,672        127,805
        Customer deposits                                                  66,399         40,576
                                                                      -----------    -----------
     Net cash used in operating activities                               (429,611)      (173,758)
                                                                      -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
     Acquisition of property and equipment                                 (4,835)        (9,155)
     Acquisition of other current assets                                  (34,442)            --
     Acquisition of intangible assets                                    (223,775)            --
                                                                      -----------    -----------
     Net cash used in investing activities                               (263,052)        (9,155)
                                                                      -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES:

     Payments of financing costs                                          (75,000)            --
     Increase (decrease) in due to related parties                        (31,337)        84,335
     Proceeds from issuance of convertible debentures                     606,667             --
                                                                      -----------    -----------
     Net cash provided by financing activities                            500,330         84,335
                                                                      -----------    -----------

NET INCREASE IN CASH                                                     (192,333)       (98,578)
CASH AT BEGINNING OF PERIOD                                               372,909        130,902
                                                                      -----------    -----------
CASH AT END OF PERIOD                                                 $   180,576    $    32,325
                                                                      ===========    ===========
</TABLE>


SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:

During the six months ended  September 30, 2005,  convertible  debentures in the
principal  amount of $201,955 were  converted into  18,600,000  shares of common
stock.

During  the six  months  ended  September  30,  2005,  stock  purchase  warrants
exercisable for 6,500,000  shares of common stock were issued in connection with
a closing on $650,000  of  convertible  debentures,  resulting  in an  aggregate
discount  on the  convertible  debentures  of  $606,667,  with  a  corresponding
increase in additional paid-in capital.

During the six months ended September 30, 2005, a supply agreement,  recorded as
an intangible asset, was purchased for $30,000, with a corresponding increase in
accounts payable of $25,000.

During the six months ended  September 30, 2005, in connection  with the pending
acquisition of a business, the entire $24,036 balance of accounts receivable due
from the seller was reclassified from accounts receivable to intangible assets.

During  the  six  months  ended  September  30,  2005,  in  connection  with  an
acquisition of a business,  $285,687 of the purchase price was recorded as notes
payable and accrued expenses,  $87,281 in current  liabilities,  and $198,406 in
long-term liabilities.


      See accompanying notes to condensed consolidated financial statements
                                       3
<PAGE>

                   CLICKABLE ENTERPRISES, INC. AND SUBSIDIARY
                 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN
                            STOCKHOLDERS' DEFICIENCY
                   FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2005
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                         Series A
                                      Preferred Stock          Common Stock           Additional
                                      ---------------   ---------------------------     Paid in       Accumulated
                                      Shares   Amount      Shares         Amount        Capital          Deficit         Total
                                      ------   ------   ------------   ------------   ------------    ------------   -------------
<S>                                    <C>     <C>      <C>                <C>         <C>             <C>           <C>
Balance, April 1, 2005                 1,200   $    1     74,296,826   $     74,297   $  1,845,629   ($ 4,380,357)   ($  2,460,430)

Conversion of Debentures                  --       --     18,600,000         18,600        183,355              --         201,955

Beneficial conversion feature of
  convertible debentures                  --       --             --             --         21,665              --          21,665

Warrants issued with convertible
  debentures                              --       --             --             --        585,000              --         585,000

Amortization of Series A Preferred
Stock beneficial conversion               --       --             --             --         35,295         (35,295)             --

Stock issued to consultants for
   services                               --       --      1,500,000          1,500         73,500              --          75,000

Amortization of Deferred Equity
Compensation                              --       --             --             --             --              --              --

Net loss for the period                   --       --             --             --             --        (678,626)       (678,626)
                                      ------   ------   ------------   ------------   ------------    ------------    ------------

Balance, September 30, 2005            1,200   $    1     94,396,826   $     94,397   $  2,744,444    ($ 5,094,278)   ($ 2,255,439)
                                      ======   ======   ============   ============   ============    ============    ============
</TABLE>


      See accompanying notes to condensed consolidated financial statements
                                       4
<PAGE>

                   CLICKABLE ENTERPRISES, INC. AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2005
                                   (UNAUDITED)


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) Loss Per Share

Basic and diluted net loss per common  share for the three and six months  ended
September 30, 2005 and 2004 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  loss per share  because  the
assumed  conversion  and  exercise  would  be  anti-dilutive  due to net  losses
incurred in all periods presented. The Company's common stock was not listed and
trading on September 30, 2004; however, based on the closing market price of the
Company's  common stock on September 30, 2005, 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  142,883,053  and
35,294,118, respectively.  Additionally, 10,500,000 and 4,500,000 stock purchase
warrants  were  exercisable  at  September  30,  2005 and  September  30,  2004,
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 three and six
months  ended  September  30,  2005 and 2004 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 three and
six months ended September 30, 2005 and 2004 are not  necessarily  indicative of
the results to be expected for the full year.  The  consolidated  balance  sheet
information  as of March 31,  2005 was  derived  from the  audited  consolidated
financial statements included in the Company's annual report Form 10-KSB for the
year  ended  March  31,  2005.  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, 2005, the Company's due from (due to)
related  parties for oil purchases and  non-interest  bearing cash advances from
NRG Heat & Power,  LLC ("NRG") and Flaw, Inc.  ("Flaw"),  oil suppliers that are
owned and  managed by Messrs.  Cirillo  and  Pipolo,  officers  of the  Company,
changed by $31,334, with a balance of $16,626 included in due to related parties
in  current  assets on  September  30,  2005  compared  to a balance  of $14,711
included in due from related  parties in current  liabilities  on September  30,
2005. As of September 30, 2005, accrued interest due to related parties was $ 0.

During the six months ended  September 30, 2005 and 2004, the Company  purchased
oil for  resale  from  NRG and  Flaw in the  amount  of  $256,759  and  $99,410,
respectively,  or 37.9% and 37%,  respectively,  of total heating oil purchased,
and had  fuel  sales  to NRG and  Flaw  in the  amount  of  $9,382  and  $7,065,
respectively.


                                       5
<PAGE>

                   CLICKABLE ENTERPRISES, INC. AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2005
                                   (UNAUDITED)

NOTE 3. CONVERTIBLE DEBENTURES

On June 30, 2005, the Company  entered in a Securities  Purchase  Agreement with
AJW  Partners,  LLC and its  related  entities  for the sale of  $900,000 of 10%
three-year  (due June 30, 2008)  secured  convertible  debentures  and for stock
purchase warrants exercisable for 9,000,000 shares of common stock expiring June
30, 2010. The debentures are convertible, at the holder's option, into shares of
common stock,  in whole or in part,  at any time after the original  issue date.
The  number of  shares  of common  stock  issuable  upon a  conversion  is to be
determined by dividing the outstanding  principal  amount of the debenture to be
converted,   plus  related  accrued  interest,  by  the  conversion  price.  The
conversion  price in effect on any conversion date will be 60% of the average of
the three day lowest bid prices  during  the  twenty  trading  days  immediately
preceding the applicable  conversion  date. The stock purchase  warrants have an
exercise price of $0.15 per share.

Also on June 30,  2005,  the  Company  closed on  $650,000  of the  $900,000  of
convertible  debentures  contemplated by the Securities  Purchase  Agreement and
issued stock purchase warrants  exercisable for 6,500,000 shares of common stock
in  connection  therewith.  The  Company  is  required  to  file a  registration
statement  within 60 days of the June 30, 2005  closing  registering  sufficient
underlying shares to be reserved for issuance upon conversion of the convertible
debentures  and  exercise of the stock  purchase  warrants.  The Company has not
filed such registration  statement and anticipates entering into an amendment to
the June 30, 2005 Securities  Purchase Agreement  eliminating the requirement to
have its registration  statement be declared  effective in order to close on the
remaining $250,000 of convertible debentures.

In  connection  with the  aforementioned  issuance of  $650,000  of  convertible
debentures,  of which the Company received net proceeds of $606,667, the Company
granted a first priority security interest in all the assets of the Company. The
issuance resulted in a beneficial  conversion  feature in the amount of $21,667,
(since it is limited to the amount  received  net of a discount  of $43,333  and
warrants having a fair market value of $585,000), which is treated as a discount
on the  debenture.  The  initial  beneficial  conversion  expense  of $21,667 is
deferred as of September  30, 2005 in additional  paid in capital.  In addition,
the debenture holders withheld $43,333 as prepaid interest (through February 28,
2006),  which is treated  as a discount  on the  debentures.  Additionally,  the
Company issued  warrants to purchase  6,500,000  shares of common stock having a
fair value of $585,000,  which is being  treated as a discount on the  debenture
and is recorded in additional  paid in capital.  Debt discount on the debentures
aggregating  $650,000 will be accreted over the 36-month term of the  debentures
commencing  July 1, 2005 as  interest  expense in  accordance  with EITF  00-27:
Application  of Issue No. 98-5,  "Accounting  for  Convertible  Securities  with
Beneficial  Conversion Features or Contingently  Adjustable Conversion Ratios to
Certain Convertible  Instruments".  $54,167 has been charged to interest expense
during the three months ended September 30, 2005. Debt discount  associated with
prior issuances of convertible  debentures has been accreted as interest expense
in full prior to March 31, 2005.

As of  September  30,  2005,  interest  of  $552,054  has  accrued on all of the
convertible debentures and is included in current liabilities.

During the six months ended  September 30, 2005,  convertible  debentures in the
principal  amount of $201,955 were  converted into  18,600,000  shares of common
stock at the election of the holder.

On May 13, 2005, the Company entered into a financial services agreement with an
unrelated third party to perform  financial  advisory  services,  principally in
connection with the $650,000 convertible debenture closing on June 30, 2005. The
term of the agreement was for a period of three months with automatic extensions
for successive  one-month  terms.  Payments for services in the six months ended
September 30, 2005 amounted to $50,000,  of which $25,000 was a success fee paid
upon the aforementioned convertible debenture closing.

NOTE 4. COMMITMENTS AND CONTINGENCIES

(A) Sales Commitments

At September  30, 2005,  the Company has an aggregate  obligation  to deliver at
varying prices  approximately  400,000 gallons of heating oil to customers under
fixed price contracts.

(B) Purchase Commitments

At September  30,  2005,  the Company has an  aggregate  obligation  to purchase
approximately 454,000 gallons of heating oil at varying prices under fixed price
contracts.


                                       6
<PAGE>

                   CLICKABLE ENTERPRISES, INC. AND SUBSIDIARY
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                            AS OF SEPTEMBER 30, 2005
                                   (UNAUDITED)

NOTE 5. INTANGIBLE ASSET

The Company  entered into an Agreement  dated September 20, 2005 under which the
Company  acquired  the  assets of a heating  oil  distributor,  principally  its
customer list.  The purchase price consists of a $70,000  payment at closing and
36 fixed monthly installment  payments of $4,000 each, and potential  additional
quarterly  payments  based on gallons  sold.  The purchase  price of $343,965 is
included in intangible assets in non-current  assets, is being amortized over an
eight  year  period.  The  additional  amount  payable  is  included  in accrued
expenses.


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.

As reflected in the accompanying consolidated financial statements,  the Company
had a net loss of $678,626 and a negative cash flow from  operations of $445,861
for the six  months  ended  September  30,  2005,  as  well as  working  capital
deficiency of $527,429 and a stockholders' deficiency of $2,255,436 at September
30, 2005. 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.

NOTE 7. SUBSEQUENT EVENT

On October 24, 2005,  Clickable  Enterprises,  Inc. (the "Company") closed on an
Asset  Purchase  Agreement  that it entered into on July 15, 2005, and Amendment
No. 1 to the Asset Purchase Agreement (the "Purchase  Agreement") with Allamuchy
Transport,  Inc.  for the  Company's  purchase  of certain  assets  relating  to
Allamuchy's  home  heating  oil  distribution   business.   Under  the  Purchase
Agreement,  the  Company  acquired  the  customer  lists  and  related  customer
information  of  Allamuchy's  home  heating  oil  business,  and  certain  other
intangible  assets.  The  purchase  price,  included  in  intangible  assets  in
non-current assets, consisted of a fixed payment of $124,943 that was payable at
closing,  and a potential  additional amount payable on the first anniversary of
closing based on a formula  utilizing a defined gross profit per gallon realized
on heating oil sold to the  purchased  customers in the 12-month  period  ending
October 24, 2006,  less the fixed  payment.  The  additional  amount  payable is
included in accrued expenses.

Allamuchy  currently also distributes diesel fuel and will retain that business.
In addition,  under the Purchase  Agreement  Allamuchy will provide oil delivery
services as the Company's  subcontractor  within  Allamuchy's former market area
for a five-year period.


                                       7
<PAGE>

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, 2005.

FINANCIAL CONDITION

We had net losses of $714,000 and $814,000 during the six months ended September
30, 2005 and 2004, respectively. As of September 30, 2005, we had a cash balance
of $181,000 and current  liabilities of $1,071,000 with obligations  aggregating
$371,000 for trade creditors and accrued expenses, $552,000 in interest payable,
$37,000 in a note payable, as well as total long-term  obligations in the amount
of $2,557,000 to convertible  debenture  holders.  As described in Note 3 to the
condensed  consolidated  financial  statements,  on June 30,  2005,  the Company
entered  in a  Securities  Purchase  Agreement  with AJW  Partners,  LLC and its
related entities for the sale of $900,000 of 10% three-year secured  convertible
debentures, and closed on the sale of $650,000 of convertible debentures on that
date. We believe that the proceeds from the sale of the  convertible  debentures
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 2005 and 2004, 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,  2005,  the  Company's  liability to
related  parties for oil purchases and  non-interest  bearing cash advances from
NRG Heat & Power,  LLC ("NRG") and Flaw, Inc.  ("Flaw"),  oil suppliers that are
owned and managed by Messrs.  Cirillo and Pipolo,  officers of the Company,  was
netted  against  other  payments by the Company  and,  accordingly,  $16,626 was
included in due from related  parties in current  assets.  As of  September  30,
2005, accrued interest due to related parties was $ 0.

COMPARISON  OF THE THREE  MONTHS  ENDED  SEPTEMBER  30, 2005 TO THE THREE MONTHS
ENDED SEPTEMBER 30, 2004

Overall Results Of Operations

For the three  months  ended  September  30,  2005,  we  incurred  a net loss of
$372,000,  or $(.00) per share,  which was a slight  decrease of $8,000 from the
net loss of $380,000 or $(.01) per share for the  comparable  prior year period.
The net loss for the three months ended  September  30, 2005 and  September  30,
2004 included non-cash charges of $54,000 and $125,000,  respectively,  for debt
discount  amortization  expense,  and $24,000  and  $59,000,  respectively,  for
amortization  of deferred  compensation.  The  decrease in net loss is primarily
attributable  to the  decrease  in these  expenses,  offset  by an  increase  in
selling, general and administrative expenses.

Sales

Total net sales for the three  months  ended  September  30,  2005 was  $376,000
compared to $119,000 for the three months ended September 30, 2004. The increase
of $257,000, or 215%, can be attributed principally to a substantial increase in
the average  selling  price per gallon of heating  oil to $2.28 from  $1.46,  or
56.3%, caused by world market conditions,  and a 101.7% increase in gallons sold
in the current period  compared to the earlier  period.  The increase in gallons
sold is  attributable  to a larger  customer  base  that  increased  through  an
acquisition in January 2005 and through marketing activities.


                                       8
<PAGE>

Gross Profit

Gross profit  increased to $23,000 for the three months ended September 30, 2005
compared to $2,000 for the three months ended  September  30, 2004,  or $21,000,
with gross  margin  increasing  to 6.1% 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.  In the recent  trend toward high prices that has
occurred for the past 18 months,  fewer customers elected fixed price contracts.
Such  contracts  allow the  related  purchase  requirements  to be  hedged  and,
therefore,  typically generate greater gross margins than selling and purchasing
on the spot market allow.  As prices  decrease to more  traditional  levels,  or
stabilize,  it is anticipated  that  customers will generally  elect fixed price
contracts in greater proportions.

Operating Expenses

Total  operating  expenses  increased  to $290,000  for the three  months  ended
September 30, 2005, from $192,000 for the three months ended September 30, 2004,
or  $98,000,   attributable  to  increased  employee  compensation  of  $90,000,
increased  insurance of $17,000 and increased  advertising of $19,000 for a home
show and direct mailings, offset by lower bad debt expense of $13,000.

Other Income (Expense)

Interest expense  decreased to $119,000 from $190,000 for the three months ended
September 30, 2005 as compared  with the three months ended  September 30, 2004,
or  $71,000,  due  principally  to a decrease  in the debt  discount  expense to
$54,000 from $125,000,  as well as the effect of a decrease in the interest rate
on  convertible  debentures  to 8%  from  10%  that  was  an  element  of a debt
restructuring on October 15, 2004.

COMPARISON  OF THE SIX MONTHS ENDED  SEPTEMBER  30, 2005 TO THE SIX MONTHS ENDED
SEPTEMBER 30, 2004

Overall Results Of Operations

For the six months ended September 30, 2005, we incurred a net loss of $679,000,
or $(.01)  per  share,  which was a decrease  of  $135,000  from the net loss of
$814,000 or $(.01) per share for the comparable prior year period.  The net loss
for the six months ended  September  30, 2005 and  September  30, 2004  included
non-cash  charges of  $54,000  and  $300,000,  respectively,  for debt  discount
amortization expense, and $23,000 and $119,000,  respectively,  for amortization
of deferred compensation.  The decrease in net loss is primarily attributable to
the  decrease  in these  expenses,  partially  offset by an increase in selling,
general and administrative expenses.

Sales

Total  net  sales for the six  months  ended  September  30,  2005 was  $782,000
compared to $350,000 for the six months ended  September 30, 2004.  The increase
of $432,000, or 123.4%, can be attributed  principally to a substantial increase
in the average  selling price per gallon of heating oil to $1.98 from $1.30,  or
52%, caused by world market conditions,  and a 46.5% increase in gallons sold in
the current period compared to the earlier period.  The increase in gallons sold
is attributable to a larger customer base that increased  through an acquisition
in January 2005 and through marketing activities.

Gross Profit

Gross profit  increased to $39,000 for the six months ended  September  30, 2005
compared to $26,000 for the six months ended  September  30,  2004,  or $13,000,
with gross margin decreasing to 5.0% from 7.5% for the period. 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.
In the recent trend toward high prices that has occurred for the past 18 months,
fewer customers elected fixed price contracts.  Such contracts allow the related
purchase  requirements to be hedged and,  therefore,  typically generate greater
gross margins than selling and  purchasing  on the spot market allow.  As prices
decrease to more  traditional  levels,  or  stabilize,  it is  anticipated  that
customers will generally elect fixed price contracts in greater proportions.


                                       9
<PAGE>

Operating Expenses

Total  operating  expenses  increased  to  $566,000  for  the six  months  ended
September 30, 2005,  from $412,000 for the six months ended  September 30, 2004,
or  $154,000,  attributable  to  increased  employee  compensation  of $152,000,
increased  insurance of $17,000 and increased  advertising of $24,000 for a home
show and  direct  mailings,  offset by lower bad debt  expense  of  $20,000  and
professional fees of $18,000.

Other Income (Expense)

Interest  expense  decreased to $169,000  from $428,000 for the six months ended
September 30, 2005 as compared with the six months ended  September 30, 2004, or
$259,000,  due principally to a decrease in the debt discount expense to $54,000
from  $300,000,  as well  as a  decrease  in the  interest  rate on  convertible
debentures to 8% from 10% that was an element of a debt restructuring on October
15, 2004.

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, 2005, we had a cash balance of $181,000 and a negative cash
flow from  operations  of $430,000  for the six month  period then ended.  Since
inception  through the period ended  September  30, 2005,  we have  financed our
operations  through loans from related parties and through private placements of
both debt and equity.  On June 30,  2005,  the Company  entered in a  Securities
Purchase Agreement with AJW Partners,  LLC and its related entities for the sale
of $900,000 of 10% three-year secured  convertible  debentures and closed on the
sale of $650,000, before expenses, of convertible debentures on that date. We do
not have any  available  lines of credit  and must file and have a  registration
statement declared effective before effecting the sale of the remaining $250,000
of convertible  debentures under the Securities Purchase  Agreement.  We believe
that the September 30, 2005 proceeds  from the  convertible  debentures  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, 2005, dividend arrearage
on the Series A Preferred Stock aggregated  approximately  $71,000.  The Company
had a  stockholders'  deficiency at September 30, 2005;  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:

      o     In the event  dividends  are  distributed  to  holders  of shares of
            common  stock,  the  holders of Series A  Preferred  Stock  shall be
            entitled to receive dividends on a pari passu basis.

      o     In the event of a Liquidation  Event,  as defined in the Certificate
            of  Designation,  Preferences,  and Rights of the Series A Preferred
            Stock (the  "Certificate of  Designation"),  the holders of Series A
            Preferred  Stock  shall  be  entitled  to a  Liquidation  Preference
            consisting of the Stated Value,  accrued and unpaid  dividends,  and
            any other amounts owed.

      o     Mandatory  redemption  provisions  are  effective  if and  when  the
            Company  fails to issue  shares of common  stock to  holders  of the
            Series A Preferred Stock upon exercise of conversion  rights, or the
            common  stock of the Company  fails,  after  having  been  initially
            listed,  to remain listed on the  Over-the-Counter  Bulletin  Board,
            NASDAQ  National  Market,  NASDAQ  SmallCap  Market,  New York Stock
            Exchange  or  American  Stock  Exchange,  for any reason  within the
            control of the Company.

      o     The  Company may elect to  optionally  redeem the Series A Preferred
            Stock in an amount  equal to 120% of the Stated Value of each share,
            accrued and unpaid dividends, and any other amounts owed.


                                       10
<PAGE>


      o     Each share of Series A Preferred  Stock is  convertible  into common
            shares at the Conversion  Price  generally set at 85% of the average
            of the lowest three Average Daily Prices, as defined the Certificate
            of  Designation,  for the  Company's  common stock during the 20-day
            trading  period  prior  to  the  date  of a  conversion  notice.  In
            connection  with this  discounted  conversion  feature,  the Company
            recorded a  discount  to Series A  Preferred  Stock in the amount of
            $211,765, which is being amortized over the 36-month period prior to
            the automatic  conversion date described  below,  unless  conversion
            occurs  prior to that date.  During  the  three-month  period  ended
            September  30,  2005,   amortization   of  $17,647  was  charged  to
            accumulated deficit.

      o     So long as  certain  conditions  are met,  all  shares  of  Series A
            Preferred Stock issued and outstanding on October 14, 2007, shall be
            automatically   converted   into  shares  of  common  stock  at  the
            Conversion Price.

The notes to our condensed consolidated financial statements as of September 30,
2005 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
$5,094,000.  However,  we believe that by  concentrating on our core business of
selling  home heating  oil, as well as by seeking the  possible  acquisition  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,  2005,  we  had  $1,071,000  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.

The Company has total  liabilities and contractual  obligations of $4,224,000 as
of September 30, 2005. These  contractual  obligations,  along with the dates on
which such payments are due, are described below:

                                           Contractual Obligations
                                          (as of September 30, 2005)
                                ------------------------------------------------
                                   Total      1 Year or Less    More Than 1 Year
                                ----------   ----------------   ----------------

Convertible Debentures          $2,966,000   $             --   $      2,966,000
Accounts Payable and Accrued
  Expenses                         371,000            371,000                 --
Note Payable (a)                   124,000             37,000             87,000
Accrued Interest                   552,000            552,000                 --
Other                              211,000            111,000            100,000
                                ----------   ----------------   ----------------
Total Contractual Obligations   $4,224,000   $      1,071,000   $      3,153,000
                                ==========   ================   ================

----------

(a)   During the six months ended  September 30, 2005,  the purchase  price of a
      customer  list  acquired  by the  Company  included a note  payable in the
      amount of $123,965, net of imputed interest.

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, 2005 and 2004.

Net Cash Used In Operating Activities

Net cash used in  operating  activities  was  $430,000  and  $174,000 in the six
months  ended  September  30,  2005 and 2004,  respectively.  The use of cash in
operating activities for the six months ended September 30, 2005 was principally
the result of a net loss of  $679,000  and a  seasonable  decrease  in  accounts
payable and accrued  expenses of $201,000 as heating oil purchasing  decrease in
the  slowest  selling  quarter,  partially  offset by a  seasonable  decrease in
accounts receivable of $153,000,  non-cash charges of $54,000 and an increase in
accrued  interest of $115,000.  The use of cash in operating  activities for the
six months ended  September 30, 2004 was principally the result of a net loss of
$814,000 and a seasonable  decrease in accounts  payable and accrued expenses of
$137,000,  offset by  non-cash  charges of $419,000,  a  seasonable  decrease in
accounts receivable of $96,000 and an increase in accrued interest of $128,000.



                                       11
<PAGE>

Net Cash Used In Investing Activities

We used  $258,000  during  the six  months  ended  September  30,  2005  for the
acquisition of intangible assets,  principally customer lists, $5,000 and $9,000
during the six months ended September 30, 2005 and 2004,  respectively,  for the
acquisition of property and equipment.

Net Cash Provided By Financing Activities

Net cash provided by financing activities for the six months ended September 30,
2005  amounted  to  $500,000,  principally  attributable  to  $607,000  of funds
received from the issuance of convertible  debentures  (net of prepaid  interest
withheld) offset by transaction costs of $75,000. Net cash provided by financing
activities  for the six months  ended  September  30, 2004 was $84,000  from the
increase in amounts payable to related parties.

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,  2005 and 2004,  we had net losses of
$678,000 and $814,000,  respectively.  For the fiscal years ended March 31, 2005
and 2004,  we had net losses of  $1,254,000  and  $1,319,000,  respectively.  We
expect to continue to incur  significant  operating  expenses 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 June 21, 2005 (except for Note 11 as to which the date is
July 5, 2005) on our consolidated financial statements for the fiscal year ended
March 31, 2005, 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.

WE HAVE A WORKING  CAPITAL  DEFICIT,  WHICH  MEANS  THAT OUR  CURRENT  ASSETS ON
SEPTEMBER  30, 2005 WERE NOT  SUFFICIENT TO SATISFY OUR CURRENT  LIABILITIES  ON
THAT DATE.

We had a working  capital  deficiency  of $527,000 at  September  30, 2005 which
means that our current  liabilities  exceeded  our current  assets by  $527,000.
Current assets are assets that are expected to be converted into cash within one
year and, therefore,  may be used to pay current liabilities as they become due.
Our working  capital  position was such that our current assets on September 30,
2005 were not sufficient to satisfy all of our current liabilities on that date.

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.


                                       12
<PAGE>


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

With the exception of a remaining  commitment  for the purchase of an additional
$250,000 of our  convertible  debentures,  we  currently  have no other  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:

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

      o     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 $650,000 of  convertible  debentures on June 30, 2005, 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.

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 June 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 on June 30, 2005
with a maturity date of June 30, 2008. 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 November 11, 2005,  we had  114,776,826  shares of common stock issued and
outstanding,  outstanding  convertible  debentures  and  shares  of  convertible
preferred  stock that may be converted into an estimated  254,538,816  shares of
common stock at current market prices,  and outstanding  warrants to purchase up
to  10,500,000  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.



                                       13
<PAGE>

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 $.028 per share:

                                     Number         Percentage of
  Percentage        Price           of Shares       Outstanding
 Below Market     Per Share         Issuable          Shares
 --------------------------------------------------------------
      25%          $ 0.0210        291,797,786          79%
      50%          $ 0.0140        435,696,679          85%
      75%          $ 0.0070        867,393,358          92%


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.

We entered into Securities  Purchase  Agreements for the sale of an aggregate of
$800,000 of  convertible  debentures  in fiscal 2004 and assumed  $1,717,949  of
convertible  debentures  in the merger  and  recapitalization  transaction  with
ClickableOil.com,  Inc. that,  less an aggregate  reduction of $412,000  through
November 11, 2005 due to  conversions  into shares of our common stock,  are due
and payable,  with 8% interest, on October 15, 2007. On June 30, 2005, we closed
on an additional  $650,000 of convertible  debentures  that are due and payable,
with 10% interest,  on June 30, 2008. 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.



                                       14
<PAGE>

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:

      o     a broker or dealer approve a customer's  account for transactions in
            penny stocks;

      o     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

      o     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

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

      o     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,

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

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

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, 2005, 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,  2005,  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.



                                       15
<PAGE>

PART II-OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Recent Sales Of Unregistered Securities

The  information  required by Item 701 of Regulation  S-B regarding our entering
into a Securities  Purchase  Agreement for the private  placement of $900,000 of
convertible  debentures and warrants to purchase  shares of common stock on June
30,  2005  and  our  closing  on  that  date on the  sale  of  $650,000  of such
convertible debentures and warrants to purchase 6,500,000 shares of common stock
is incorporated herein by reference to our Current Report on Form 8-K filed with
the Securities and Exchange Commission on July 7, 2005.

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 June 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 June 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).


                                       16
<PAGE>

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).

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 June 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 June 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 June 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 June 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 June 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 June 21,
                  2002).

4.13              Security  Agreement  among  the  Company  and  the  Subsequent
                  Purchasers  (Incorporated  by  reference  to our  Registration
                  Statement on SB-2 filed June 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 June 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 June 30,
                  2005  (Incorporated  by  reference  to our Form 10-QSB for the
                  period ended June 30, 2005 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 June 30, 2005 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 June 30, 2005 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 June 30,  2005
                  (Incorporated  by  reference to our Form 10-QSB for the period
                  ended June 30, 2005 filed on August 24, 2005).

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.



                                       17
<PAGE>

                                   SIGNATURES

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 18, 2005

By:    /s/Guy Pipolo
       ------------------------
Name:  Guy Pipolo
Title: Chief Financial Officer (Principal Accounting Officer)

Date: November 18, 2005