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

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

                Date of Report (Date of earliest event reported):
                        August 26, 2005 (August 23, 2005)

                          AMERICAN PALLET LEASING, INC.
             (Exact name of registrant as specified in its charter)

       Delaware                     000-29519                   33-0889194
(State of incorporation)        (Commission File No.)          (IRS Employer
                                                             Identification No.)

           425 Second Street, S.E. Suite 600, Cedar Rapids, Iowa 52401
          (Address, including Zip Code, of Principal Executive Offices)

       Registrant's telephone number, including area code: (319) 533-0361

                                 NOT APPLICABLE
          (Former Name or Former Address, If Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

Item 5.02. Departure of Directors or Principal Officers;  Election of Directors;
Appointment of Principal Officers.

On August 23, 2005, the Company  announced Timothy R. Bumgarner has tendered his
resignation  as  President  and Chief  Executive  Officer  (Principal  Executive
Officer)  effective August 23, 2005. Mr. Bumgarner will remain a director of the
Company and its Chairman.

The Company  concurrently  announced the  appointment of James F. Crigler to the
position of President and Chief Executive Officer (Principal  Executive Officer)
effective  August 23, 2005.  Mr. Crigler has served as a director of the Company
since April 2004. Mr. Crigler will remain a director of the Company.

Item 8.01. Other Events.

On June 9, 2005,  American Pallet Leasing,  Inc. (the "Company") filed a Current
Report  on Form 8-K to  report  that it had  temporarily  shutdown  its  sawmill
facility,  G&G/Cherokee Wood, Inc. ("G&G"). Although the Company has not resumed
operations  at G&G to date,  it is  still  attempting  to  secure  financing  to
complete  the  acquisition  of  G&G.   Pursuant  to  a  Contract  of  Deed  (the
"Agreement")  between  the  Company  and  former  owners  of G&G  Cherokee  (the
"Seller"),  the total purchase price for G&G was approximately  $3,300,000 to be
paid over a period of time with the balance due in February 2005.  Approximately
$960,000  has been paid to date.  The Company has been  treating G&G as a wholly
owned  subsidiary  since  August 13,  2004.  The  Company's  inability to secure
financing  to  complete  the  transaction  may be deemed to be a default  by the
Company  pursuant  to the  Agreement.  In the event that the  Company is in fact
deemed to be in default, the Seller's only remedy shall be to re-take possession
of the premises. During Fiscal 2005, total revenues of G&G were $2,624,751.

Although the Company has been working to secure financing it was recently served
with litigation  papers from the Sellers of G&G,  alleging,  among other things,
breach of contract and seeking,  among other things, damages to be determined at
trial.  Although  the  Company  believes  that the basis of this suit is without
merit,  there is no assurance that it will not ultimately incur costs related to
a permanent  shutdown of G&G. The Company is also weighing  causes of action and
counterclaims it believes it may have against the Seller.

      Forward-Looking Statements

This Form 8-K contains  forward-looking  statements as defined in the Securities
Exchange  Act of 1934 and  subject  to the safe  harbors  created  therein.  The
forward-looking statements contained herein include, but are not limited to, the
termination of activities in regard to the Company's G&G/Cherokee operations and
the Company's  expectations  with respect to its obligations upon termination of
its agreement with the Sellers of G&G/Cherokee.

These  forward-looking  statements  involve risks and  uncertainties  that could
cause the  Company's  results to differ  materially  from  management's  current
expectations. Such risks and uncertainties include, but are not limited to risks
associated  with the ultimate  consequences  associated  the  disposition of its
Subsidiary and risks associated with the development  generally of the Company's
overall strategic objectives.

<PAGE>

Item 9.01 Financial Statements and Exhibits.

      (c)   Exhibits.

      Exhibit No.      Description
      -----------      -----------

          10.1         Contract for Deed Between G&G Cherokee and American
                       Pallet  Leasing,  Inc. dated as of August 13, 2004.
          10.2         Buy-Sell Agreement dated February 17, 2005.
          99.1         Press Release dated August 23, 2005.

<PAGE>

                                   SIGNATURES

      Pursuant to the  requirements  of the Securities  Exchange Act of 1934, as
amended,  the  registrant  has duly caused this Current Report on Form 8-K to be
signed on its behalf by the undersigned thereunto duly authorized.

                                       AMERICAN PALLET LEASING, INC.

                                       By: /s/James Crigler
                                           -------------------------------------
                                           James Crigler,
                                           President and Chief Executive Officer

August 26, 2005
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UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

                Date of Report (Date of earliest event reported):
                        August 26, 2005 (August 23, 2005)

                          AMERICAN PALLET LEASING, INC.
             (Exact name of registrant as specified in its charter)

       Delaware                     000-29519                   33-0889194
(State of incorporation)        (Commission File No.)          (IRS Employer
                                                             Identification No.)

           425 Second Street, S.E. Suite 600, Cedar Rapids, Iowa 52401
          (Address, including Zip Code, of Principal Executive Offices)

       Registrant's telephone number, including area code: (319) 533-0361

                                 NOT APPLICABLE
          (Former Name or Former Address, If Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Principal Officers;  Election of Directors;
Appointment of Principal Officers.

On August 23, 2005, the Company  announced Timothy R. Bumgarner has tendered his
resignation  as  President  and Chief  Executive  Officer  (Principal  Executive
Officer)  effective August 23, 2005. Mr. Bumgarner will remain a director of the
Company and its Chairman.

The Company  concurrently  announced the  appointment of James F. Crigler to the
position of President and Chief Executive Officer (Principal  Executive Officer)
effective  August 23, 2005.  Mr. Crigler has served as a director of the Company
since April 2004. Mr. Crigler will remain a director of the Company.

Item 8.01. Other Events.

On June 9, 2005,  American Pallet Leasing,  Inc. (the "Company") filed a Current
Report  on Form 8-K to  report  that it had  temporarily  shutdown  its  sawmill
facility,  G&G/Cherokee Wood, Inc. ("G&G"). Although the Company has not resumed
operations  at G&G to date,  it is  still  attempting  to  secure  financing  to
complete  the  acquisition  of  G&G.   Pursuant  to  a  Contract  of  Deed  (the
"Agreement")  between  the  Company  and  former  owners  of G&G  Cherokee  (the
"Seller"),  the total purchase price for G&G was approximately  $3,300,000 to be
paid over a period of time with the balance due in February 2005.  Approximately
$960,000  has been paid to date.  The Company has been  treating G&G as a wholly
owned  subsidiary  since  August 13,  2004.  The  Company's  inability to secure
financing  to  complete  the  transaction  may be deemed to be a default  by the
Company  pursuant  to the  Agreement.  In the event that the  Company is in fact
deemed to be in default, the Seller's only remedy shall be to re-take possession
of the premises. During Fiscal 2005, total revenues of G&G were $2,624,751.

Although the Company has been working to secure financing it was recently served
with litigation  papers from the Sellers of G&G,  alleging,  among other things,
breach of contract and seeking,  among other things, damages to be determined at
trial.  Although  the  Company  believes  that the basis of this suit is without
merit,  there is no assurance that it will not ultimately incur costs related to
a permanent  shutdown of G&G. The Company is also weighing  causes of action and
counterclaims it believes it may have against the Seller.

      Forward-Looking Statements

This Form 8-K contains  forward-looking  statements as defined in the Securities
Exchange  Act of 1934 and  subject  to the safe  harbors  created  therein.  The
forward-looking statements contained herein include, but are not limited to, the
termination of activities in regard to the Company's G&G/Cherokee operations and
the Company's  expectations  with respect to its obligations upon termination of
its agreement with the Sellers of G&G/Cherokee.

These  forward-looking  statements  involve risks and  uncertainties  that could
cause the  Company's  results to differ  materially  from  management's  current
expectations. Such risks and uncertainties include, but are not limited to risks
associated  with the ultimate  consequences  associated  the  disposition of its
Subsidiary and risks associated with the development  generally of the Company's
overall strategic objectives.
Item 9.01 Financial Statements and Exhibits.

      (c)   Exhibits.

      Exhibit No.      Description
      -----------      -----------

          10.1         Contract for Deed Between G&G Cherokee and American
                       Pallet  Leasing,  Inc. dated as of August 13, 2004.
          10.2         Buy-Sell Agreement dated February 17, 2005.
          99.1         Press Release dated August 23, 2005.
SIGNATURES

      Pursuant to the  requirements  of the Securities  Exchange Act of 1934, as
amended,  the  registrant  has duly caused this Current Report on Form 8-K to be
signed on its behalf by the undersigned thereunto duly authorized.

                                       AMERICAN PALLET LEASING, INC.

                                       By: /s/James Crigler
                                           -------------------------------------
                                           James Crigler,
                                           President and Chief Executive Officer

August 26, 2005