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

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes o No o

PART I— FINANCIAL INFORMATION		3

Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	12
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	15
Item 4.	Controls and Procedures	16

PART II— OTHER INFORMATION		16

Item 1.	Legal Proceedings	16
Item 1A.	Risk Factors	16
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	16
Item 3.	Defaults Upon Senior Securities	17
Item 4.	Submission of Matters to a Vote of Security Holders	17
Item 5.	Other Information	17
Item 6.	Exhibits	17

SIGNATURES		17

	June 30,			December 31,
	2009			2008
	(unaudited)
ASSETS
Current Assets:
Cash	$	512,606		$	934,118
Inventory (Note 4)		1,510,493			1,485,247
Accounts receivable		199,270			421,909
Total Current Assets		2,222,369			2,841,275

Equipment, net (Note 5)		18,974			21,698
Other assets (Note 6)		6,785			8,479

TOTAL ASSETS	$	2,248,128		$	2,871,452

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable	$	172,786		$	159,040
Note payable to bank (Note 7)		100,000			100,000
Credit line (Note 7)		125,599			198,006
Demand loans payable (Note 7)		795,346			904,246
Credit Card loan payable (Note 7)		-			-
Due to stockholders (Note 7)		1,234,346			1,746,269
Accrued expenses		123,470			133,946
Payroll taxes withheld and accrued		2,483			1,961
Total Current Liabilities		2,554,030			3,243,468

Stockholders' equity
Preferred stock, 0.0001 par value, 10,000,000 shares authorized, 10,000,000 issued and outstanding		1,000			1,000
Common stock, .001 par value, 300,000,000 shares authorized, 554,017 shares issued and outstanding June 30, 2009 and December 31, 2008		554			554
Capital Stock to be issued (500,000 Shares)		20,000			20,000
Additional Paid in Capital		3,957,424			3,957,424
Deficit		(4,283,704	)		(4,349,817	)
		(304,726	)		(370,839	)
Less: Treasury stock (200,000 common shares)		(1,176	)		(1,176	)
Total Stockholders' Equity		(305,902	)		(372,015	)

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	2,248,128		$	2,871,452

	Three		Three			Six		Six
	Months		Months			Months		Months
	Ended		Ended			Ended		Ended
	June 30,		June 30,			June 30,		June 30,
	2009		2008			2009		2008

Net sales	$	4,562,565		13,679,407			9,364,486		31,938,897

Cost of sales		4,292,413		13,625,613			8,783,234		31,434,719

Gross profit		270,152		53,794			581,252		504,178
Operating expenses:
Officers salaries		12,270		79,756			92,026		201,444
Interest expense		33,347		87,093			94,124		176,791
Selling, general and administrative		154,084		189,177			324,739		403,191
Total operating expenses		199,701		356,026			510,889		781,426

Profit (Loss) from operations		70,451		(302,232	)		70,363		(277,248	)

Income taxes		-		-			4,250		1,300

Net profit (loss)	$	70,451		(302,232	)		66,113		(278,548	)

Deem preferred dividend		-		401,061			-		401,061

Net profit (loss) available to common stockholders	$	70,451		(703,293	)		66,113		(679,609	)

Net profit (loss) per share, basic (Note 9)	$	0.13		(1.27	)		0.12		(1.23	)

Weighted average number of shares outstanding - Basic		554,017		554,017			554,017		554,017

Net profit (loss) per share, diluted (Note 9)	$	0.01		(1.27	)		0.01		(1.23	)

Weighted average number of shares outstanding - Diluted		11,054,017		554,017			11,054,017		554,017

	Six Months			Six Months
	Ended			Ended
	June 30, 2009			June 30, 2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net profit (loss)	$	66,113		$	(278,548	)
Adjustments to reconcile net profit to net cash used by operating activities:
Depreciation and amortization		2,724			2,556
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable		222,639			433,220
(Increase) decrease in inventory		(25,246	)		1,172,741
(Increase) decrease in other assets		1,694			9,642
Increase (decrease) in accounts payable		13,746			133,611
Increase (decrease) in accrued expenses		(10,400	)		(69,368	)
Increase (decrease) in payroll taxes		522			(141,166	)
Total adjustments		205,679			1,538,680

CASH PROVIDED (USED) BY OPERATING ACTIVITIES		271,792			1,262,688

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets		-			(3,347	)
CASH USED BY INVESTING ACTIVITIES		-			(3,347	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds of line of credit		1,397,167			3,586,106
Repayment of line of credit		(1,469,574	)		(4,155,727	)
Proceeds of stockholders loans		10,869			480,425
Repayment of stockholders loan		(522,866	)		(244,894	)
Proceeds of demand loans		-			257,214
Repayment of demand loans		(108,900	)		(200,000	)
Repayment on credit card loan		-			(138,299	)

CASH PROVIDED (USED)BY FINANCING ACTIVITIES		(693,304	)		(415,175	)

NET INCREASE (DECREASE) IN CASH		(421,512	)		844,166

CASH
Beginning of year		934,118			328,658

End of period	$	512,606		$	1,172,824

SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for:

Interest payments	$	94,124		$	176,791

The accompanying interim financial statements of Northeast Automotive Holdings, Inc. are unaudited. However, in the opinion of management, the interim data includes all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the results for the interim period. The results of operations for the period ended June 30, 2009 are not necessarily indicative of the operating results for the entire year.

The Board of Directors of Northeast Auto Acceptance Corp. (the “Company”) approved the Merger of the Company, a Florida Corporation with Northeast Automotive Holdings, Inc., a Nevada Corporation. Pursuant to an Information Statement filed on November 8, 2007 with the Securities and Exchange Commission, Northeast Automotive Holdings, Inc. executed an Agreement and Plan of merger with the Company, with Northeast Automotive Holdings, Inc. being the surviving entity. The purpose of this merger was to change the legal domicile of the Company from Florida to Nevada.

The financial statements have been prepared on the basis of a going concern which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has a working capital deficiency of $ 331,737 at June 30, 2009 and the Company has an accumulated deficit of $ 4,283,704 since inception.

While the Company is attempting to produce sufficient revenues, the Company's cash position may not be enough to support the Company's daily operations. Management believes that the actions presently being taken to further implement its business plan and generate sufficient revenues provide the opportunity for the Company to continue as a going concern. While the Company believes in the viability of its strategy to increase revenues and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company's ability to further implement its business plan and generate sufficient revenues. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

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

The Company accounts for income taxes under the asset and liability method as required by SFAS No. 109, "Accounting for Income Taxes", issued by the Financial Accounting Standards Board ("FASB"). Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial reporting and tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

In the first quarter of 2009, we adopted Statement of Financial Accounting Standards (SFAS) No. 141 (revised 2007), “Business Combinations” (SFAS No. 141(R)) as amended by FASB staff position FSP 141(R)-1, “Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies.” SFAS No. 141(R) generally requires an entity to recognize the assets acquired, liabilities assumed, contingencies, and contingent consideration at their fair value on the acquisition date. In circumstances where the acquisition-date fair value for a contingency cannot be determined during the measurement period and it is concluded that it is probable that an asset or liability exists as of the acquisition date and the amount can be reasonably estimated, a contingency is recognized as of the acquisition date based on the estimated amount. It further requires that acquisition-related costs be recognized separately from the acquisition and expensed as incurred, restructuring costs generally be expensed in periods subsequent to the acquisition date, and changes in accounting for deferred tax asset valuation allowances and acquired income tax uncertainties after the measurement period impact income tax expense. In addition, acquired in-process research and development is capitalized as an intangible asset and amortized over its estimated useful life. SFAS No 141(R) is applicable to business combinations on a prospective basis beginning in the first quarter of 2009. We did not complete any business combinations in the first quarter of 2009.

In February 2008, the FASB issued FSP 157-2, “Effective Date of FASB Statement No. 157” (FSP 157-2), which delayed the effective date of SFAS No. 157, “Fair Value Measurements” (SFAS No. 157) for all non-financial assets and non-financial liabilities, except for items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually), until the beginning of the first quarter of 2009. Therefore, in the first quarter of 2009, we adopted SFAS No. 157 for non-financial assets and non-financial liabilities. The adoption of SFAS No. 157 for non-financial assets and non-financial liabilities that are not measured and recorded at fair value on a recurring basis did not have a significant impact on our consolidated financial statements.

In December 2008, the FASB issued FSP 132(R)-1, “Employers’ Disclosures about Postretirement Benefit Plan Assets” (FSP 132(R)-1). FSP 132(R)-1 requires additional disclosures for plan assets of defined benefit pension or other postretirement plans. The required disclosures include a description of our investment policies and strategies, the fair value of each major category of plan assets, the inputs and valuation techniques used to measure the fair value of plan assets, the effect of fair value measurements using significant unobservable inputs on changes in plan assets, and the significant concentrations of risk within plan assets. FSP 132 (R)-1 does not change the accounting treatment for postretirement benefits plans. FSP 132(R)-1 is effective for us for fiscal year 2009.

In April 2009, the FASB issued FSP FAS 157-4, “Determining Fair Value When Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly” (FSP 157-4). FSP 157-4 provides guidance on how to determine the fair value of assets and liabilities when the volume and level of activity for the asset/liability has significantly decreased. FSP 157-4 also provides guidance on identifying circumstances that indicate a transaction is not orderly. In addition, FSP 157-4 requires disclosure in interim and annual periods of the inputs and valuation techniques used to measure fair value and a discussion of changes in valuation techniques. FSP 157-4 is effective for us beginning in the second quarter of fiscal year 2009. The adoption of FSP 157-4 is not expected to have a significant impact on our consolidated financial statements.

In April 2009, the FASB issued FSP FAS 115-2 and FAS 124-2, “Recognition and Presentation of Other-Than-Temporary Impairment” (FSP 115-2/124-2). FSP 115-2/124-2 amends the requirements for the recognition and measurement of other-than-temporary impairments for debt securities by modifying the pre-existing “intent and ability” indicator. Under FSP 115-2/124-2, an other-than-temporary impairment is triggered when there is an intent to sell the security, it is more likely than not that the security will be required to be sold before recovery, or the security is not expected to recover the entire amortized cost basis of the security. Additionally, FSP 115-2/124-2 changes the presentation of an other-than-temporary impairment in the income statement for those impairments involving credit losses. The credit loss component will be recognized in earnings and the remainder of the impairment will be recorded in other comprehensive income. FSP 115-2/124-2 is effective for us beginning in the second quarter of fiscal year 2009. Upon implementation at the beginning of the second quarter of 2009, FSP 115-2/124-2 is not expected to have a significant impact on our consolidated financial statements.

In April 2009, the FASB issued FSP FAS 107-1 and APB 28-1, “Interim Disclosure about Fair Value of Financial Instruments” (FSP 107-1/APB 28-1). FSP 107-1/APB 28-1 requires interim disclosures regarding the fair values of financial instruments that are within the scope of FAS 107, “Disclosures about the Fair Value of Financial Instruments.” Additionally, FSP 107-1/APB 28-1 requires disclosure of the methods and significant assumptions used to estimate the fair value of financial instruments on an interim basis as well as changes of the methods and significant assumptions from prior periods. FSP 107-1/APB 28-1 does not change the accounting treatment for these financial instruments and is effective for us beginning in the second quarter of fiscal year 2009.

	June 30,		December 31,
	2009		2008
Line of credit - On October 4, 2004, the Company was approved for a line of credit of $975,000, as an inventory financing ("Floor Plan") loan with interest set at 2% above the Wall Street Journal Prime rate. The agreement requires any advances to be repaid for a vehicle on the earliest of forty eight (48) hours from the time of sale or within twenty four (24) hours from the time the Company receives payment by or on behalf of the purchase of such vehicle or demand. The agreement is personally guaranteed by the officers and their respective spouses. The collateral for the loan is any vehicle owned by the Company.	$	125,599	$	198,006

Note payable bank - note payable to bank due February 2007, is an open line of credit interest payable monthly at 1% over the prime rate, secured by a lien on all of the Company's assets and personally guaranteed by the officers. Interest is paid monthly on account.	$	100,000	$	100,000

9% convertible demand notes -The 9% convertible demand notes in the amounts of $150,000, $250,000 and $300,000, issued September 15, 2004, December 19, 2005 and June 15, 2007 respectively, are convertible at $0.25 per share. Interest is payable monthly.	$	-	$	100,000

Unsecured demand notes payable. Interest is payable monthly at the rate of 6% through February 2009 and 5% thereafter..	$	795,346	$	804,246

Due to stockholders - The stockholder loans are unsecured, pay interest at 9% per annum, are subordinated to the bank loan and have no specific terms of repayment.	$	1,234,346	$	1,746,269

	Three Months ended					Six Months ended
	June 30,					June 30,
	2009		2008			2009		2008
Net profit (loss) available to common stockholders	$	70,451	$	(703,293	)	$	66,113	$	(679,609	)
Denominator:
Basic weighted-average shares outstanding		554,017		554,017			554,017		554,017
Effect of convertible preferred stock		10,000,000		10,000,000			10,000,000		10,000,000
Shares to be issued		500,000		500,000			500,000		500,000
Diluted weighted-average shares outstanding		11,054,017		554,017			11,054,017		554,017
Net income per share:
Basic	$	0.13	$	(1.27	)	$	0.12	$	(1.23	)
Diluted	$	0.01	$	(1.27	)	$	0.01	$	(1.23	)

Included in the accompanying balance sheet is inventory of used automobiles at a carrying value of $1,510,493 as of June 30, 2009, which represents management's estimate of its net realizable value which approximates market. Such value is based on forecasts for sales of used automobiles in the ensuing year. The used automobile industry is characterized by rapid price changes. Should demand for used automobiles prove to be significantly less than anticipated, the ultimate realizable value of such products could be substantially less than the amount shown in the balance sheet. This risk is increased by the Company's need to move inventory due to the lack of working capital.

The following discussion and analysis addresses material changes in the results of operations and financial condition of Northeast Automotive Holdings, Inc. and Subsidiaries (the “Company” or “we”) for the periods presented. This discussion and analysis should be read in conjunction with the Consolidated Financial Statements, the related Notes to Consolidated Financial Statements and Management’s Discussion and Analysis of Results of Operations and Financial Condition included in the Company’s Form 10-K for the fiscal year ended December 31, 2008, the unaudited interim Condensed Consolidated Financial Statements and related Notes included in Item 1 of this Report on Form 10-Q (“Form 10-Q”) and the Company’s other SEC filings and public disclosures.

This Form 10-Q may contain “forward-looking statements”. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include, without limitation, statements about the Company’s market opportunities, strategies, competition and expected activities and expenditures, and at times may be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “project”, “believe”, “anticipate”, “expect”, “plan”, “estimate”, “forecast”, “potential”, “intend”, “continue” and variations of these words or comparable words. Forward-looking statements inherently involve risks and uncertainties. Accordingly, actual results may differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the risks described below under “Risk Factors” in Part II, Item 1A. The Company undertakes no obligation to update any forward-looking statements for revisions or changes after the date of this Form 10-Q.

We are a wholesale automobile sales company which seeks to exploit the inefficiencies and geographic differences in the used vehicle market by purchasing high quality, late model used vehicles from dealers and institutional sellers in Northeastern states and transporting the vehicles for resale in the Pacific Northwest. We are involved only in the wholesale purchase and sale of vehicles acting as a middleman between various dealer and institutional sellers and dealer purchasers. We generally sell our vehicles only through established third-party auctions which act as a marketplace for used vehicles. We thus help align institutional used vehicle sellers and wholesale buyers over a wide geographic area.

In the second quarter of 2009, we adopted Statement of Financial Accounting Standards (SFAS) No. 141 (revised 2007), “Business Combinations” (SFAS No. 141(R)) as amended by FASB staff position FSP 141(R)-1, “Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies.” SFAS No. 141(R) generally requires an entity to recognize the assets acquired, liabilities assumed, contingencies, and contingent consideration at their fair value on the acquisition date. In circumstances where the acquisition-date fair value for a contingency cannot be determined during the measurement period and it is concluded that it is probable that an asset or liability exists as of the acquisition date and the amount can be reasonably estimated, a contingency is recognized as of the acquisition date based on the estimated amount. It further requires that acquisition-related costs be recognized separately from the acquisition and expensed as incurred, restructuring costs generally be expensed in periods subsequent to the acquisition date, and changes in accounting for deferred tax asset valuation allowances and acquired income tax uncertainties after the measurement period impact income tax expense. In addition, acquired in-process research and development is capitalized as an intangible asset and amortized over its estimated useful life. SFAS No 141(R) is applicable to business combinations on a prospective basis beginning in the second quarter of 2009. We did not complete any business combinations in the second quarter of 2009.

	Six months ended June 30,
	2009			2008
Percentage of net revenues:
Net revenues		100	%		100	%
Cost of revenues		93.8	%		98.4	%
Gross profit		6.2	%		1.6	%

Sales, general and administrative expenses		3.5	%		1.3	%
Other operating expenses		2.0	%		1.2	%
Total operating expenses		5.5	%		2.5	%
Profit (loss) from operations		0.8	%		(0.0	) %

Revenue for the six month periods ended June 30, 2009 were $9,364,485 a decrease of $ 22,574,411or 70.6% as compared to revenues for the six months period ended June 30, 2008 of $31,938,897. The decrease in revenue was a result of a decrease in the number of vehicles we sold in the six months period in 2009 over 2008. Specifically, in the six months period ended June 30, 2009 we sold 730 vehicles at an average sales price of $12,857 as compared to 2,211 vehicles at an average sales price of $14,446 during the comparable period in 2008.

The Company's cost of sales is composed primarily of the cost of purchasing vehicles for resale. Cost of revenues was $8,783,234or 93.8% of net revenues during the six months period ended June 30, 2009 as compared to $31,434,719 or 98.4% for the comparable period in 2008, a decrease of $22,651,485 or 72.0%. Thus, our gross margin was 6.2% for the six months period ended June 30, 2009 as compared to 1.6% for the comparable period in 2008. The decrease in our cost of revenue as a percent of revenue is attributable to a decrease in the cost of the vehicles sold during the six months period ended June 30, 2009 as compared to the comparable period in 2008.

Sale, general and administrative (“SGA”) expenses are composed principally of commission, salaries of administrative personnel, fees for professional services and facilities expenses. These expenses were $324,739 for the six months period ended June 30, 2009 or 3.5% of net revenue as compared to $403,191 or 1.3% of net revenue for the comparable period in 2008, a decrease in such expenses of $78,452 or 19.5% The decrease in the ratio of SGA expenses to net revenue was primarily due to a decrease in operating expenses.

Our combined expenses for officers salaries and interest was $186,150 for the six months period ended June 30, 2009 or 2.0% of net revenue compared to the comparable period in 2008 when such expenses were $378,235 or 1.2% of net revenue. The decrease in such expenses is attributable to decreased officers’ salaries in 2009 as well as a decrease in interest expense. The following table shows the changes in the components of these expenses during the comparable periods.

Operating gain or loss is calculated as our revenues less all of our operating expenses. Our operating gain for the six months period ended June 30, 2009 was $66,113 or 0.7 % of net revenue as compared to an operating (loss) of $(278,548) or (0.9%) of net revenue for comparable period in 2008, an increase of $344,661. This increase in operating gain was primarily as a result of an increase in gross profits as well as a decrease of operating expense.

Our liquidity is directly related to market trends and events, as well as our ability to interpret those trends and events and react accordingly. We are active in the used vehicle market daily, and we believe that while there will always be uncertainties and unusual events that may shape the market, we are highly capable of dissecting the data available to us, and both willing and able to make whatever changes are needed in a timely fashion to protect our liquidity. Unusual events may include the rise or fall of the cost of fuel, unforeseen economic changes in the geographic areas with which our company operates, or even acts of God. While we feel we are well capitalized at this time with the cash we have on hand, we do have a line of credit with Manheim Automotive Financial Services in the amount of $1,000,000 with which we typically have only 50% in use.

As of June 30, 2009, we had cash and cash equivalents of $512,606 invested in standard bank checking accounts and highly liquid money market instruments. Such investments are subject to interest rate and credit risk. Such risks and a change in market interest rates would not be expected to have a material impact on our financial condition and/or results of operations. As of June 30, 2009, we had an outstanding balance of $125,599 on our revolving credit facility with Manheim Auto Financial Services, Inc. Borrowings under such revolving credit facility would bear interest at a variable rate equal to prime plus 2.0%. In addition, as of June 30, 2009, we had an outstanding balance of $100,000 on a bank revolving credit facility which bears interest at a variable rate equal to prime plus 1.0%.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-14(c) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), within 90 days of the filing date of this report. In designing and evaluating the Company’s disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applied its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Based on this evaluation, the Company’s chief executive officer and chief financial officer concluded that as of June 30, 2009, the Company’s disclosure controls and procedures were (1) designed to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to the Company’s chief executive officer and chief financial officer by others within those entities, particularly during the period in which this report was being prepared and (2) effective, in that they provide reasonable assurance that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms.

Management does not expect that our disclosure controls and procedures or our internal control over financial reporting will necessarily prevent all fraud and material errors. An internal control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations on all internal control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. The design of any system of internal control is also 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. Over time, controls may become inadequate because of changes in circumstances, and/or the degree of compliance with the policies and procedures may deteriorate. Because of the inherent limitations in a cost effective internal control system, financial reporting misstatements due to error or fraud may occur and not be detected on a timely basis.

We are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of our company or any of our subsidiaries, threatened against or affecting our company, our common stock, any of our subsidiaries or of our companies or our subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect.

NEVADA	65-0637308

(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification Number)

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	x
(Do not check if a smaller reporting company)

The following is a summary of equipment:	June 30,			December 31,
	2009			2008
Equipment	$	4,243		$	4,243
Office equipment		7,673			7,673
Office furniture		25,148			25,148
Leasehold improvements		2,700			2,700
Total		39,764			39,764
Less: Accumulated depreciation		(20,790	)		(18,066	)
	$	18,974		$	21,698

Other assets consists of the following:	June 30,		December 31,
	2009		2008
Prepaid federal corporate taxes	$	-	$	-
Prepaid state corporate taxes		4,985		6,679
Security deposit		1,800		1,800
	$	6,785	$	8,479

	Six months Period Ended June 30 2009		Six months Period Ended June 30, 2008		Change		Percent Change
Officers Salaries	$	92,026	$	201,444	$	(109,418)		(54.3%)

Interest Expense	$	94,124	$	176,791	$	(82,667)		(46.8%)

Inventory consists of the following:	June 30,		December 31,
	2009		2008

Automobiles purchased for resale	$	1,510,493	$	1,485,247

	NORTHEAST AUTOMOTIVE HOLDINGS, INC.

Date: August 19, 2009	By:	/s/ William Solko
		William Solko, Chief Executive
		Officer and Chief Financial Officer