UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
   Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934


           Date of Report (Date of earliest reported): August 22, 2006


                             THOMAS EQUIPMENT, INC.
               (Exact name of registrant as specified in charter)



         Delaware                    333-44586             58-3565680
         --------                    ---------             -----------
(State or other jurisdiction         (Commission           (IRS Employer
of incorporation)                     File Number)          Identification No.)




                 1818 North Farwell Avenue, Milwaukee, WI         53202
                 ----------------------------------------         ------
               (Address of principal executive offices)          (Zip Code)

       Registrant's telephone number, including area code: (312) 224-8812

                                   Copies to:
                             Gregory Sichenzia, Esq.
                              Thomas A. Rose, Esq.
                       Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                            New York, New York 10018
                              Phone: (212) 930-9700
                               Fax: (212) 930-9725

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 (see General Instructions A.2. below):

/_/ 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))

                                       1
<PAGE>

Item 3.01     Notice of Delisting or Failure to Satisfy a Continued Listing Rule
              or Standard; Transfer of Listing.

      On August 22, 2006,  Thomas  Equipment,  Inc. (the "Company"),  received a
letter from the American Stock Exchange  ("AMEX") that the Company does not meet
certain  continued  listing  standards and has therefore  become  subject to the
procedures and  requirements of Section 1009 of the AMEX Company Guide ("Company
Guide").

      Specifically,  the Company has been notified it is not in compliance  with
Section 1003(a)(i) of the Company Guide with  shareholders'  equity of less than
$2,000,000 and losses from continuing operations and/or net losses in two out of
its three most recent fiscal years; and Section 1003(a)(ii) of the Company Guide
with  shareholders'  equity of less than  $4,000,000 and losses from  continuing
operations  and/or net losses in three out of its four most recent fiscal years.
The Company is also not in compliance  with Section  1003(a)(iv)  of the Company
Guide in that it has sustained  losses which are so  substantial  in relation to
its overall  operations or its existing  financial  resources,  or its financial
condition has become so impaired that it appears questionable, in the opinion of
the AMEX, as to whether such company will be able to continue  operations and/or
meet its obligations as they mature.

      According to the AMEX notice,  the Company must submit a plan by September
21, 2006 advising of action it has taken, or will take, that would bring it into
compliance with Sections  1003(a)(i) and 1003(a)(ii) of the Company Guide within
a maximum of 18 months and Section  1003(a)(iv) of the Company Guide by November
30, 2006.

      If the plan is  accepted,  the Company may be able to continue its listing
during the plan period,  during which time it will be subject to periodic review
to determine  whether it is making  progress  consistent  with the plan.  If the
Company does not submit a plan, or if the plan is not accepted, the Company will
be subject to delisting proceedings.

      The  Company  intends  to  issue a formal  plan to the  AMEX on or  before
September 21, 2006 to address the issues raised by the AMEX.

                                       2
<PAGE>

                                   SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                                     THOMAS EQUIPMENT, INC.


Date:  August 23, 2006                               /s/ JAMES E. PATTY
                                                     ------------------
                                                     James E. Patty,
                                                     CEO


                                       3
{"company-data": {"conformed-name": "Thomas Equipment, Inc.", "cik": "0001122380", "assigned-sic": "3531", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32831", "film-number": "061050010"}, "business-address": {"street1": "1818 NORTH FARWELL AVENUE", "city": "MILWAUKEE", "state": "WI", "zip": "53202", "phone": "(312) 224-8812"}, "mail-address": {"street1": "1818 NORTH FARWELL AVENUE", "city": "MILWAUKEE", "state": "WI", "zip": "53202"}, "former-company": {"former-conformed-name": "MAXIM MORTGAGE CORP/", "date-changed": "20000822"}}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT
   Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934

           Date of Report (Date of earliest reported): August 22, 2006

                             THOMAS EQUIPMENT, INC.
               (Exact name of registrant as specified in charter)

         Delaware                    333-44586             58-3565680
         --------                    ---------             -----------
(State or other jurisdiction         (Commission           (IRS Employer
of incorporation)                     File Number)          Identification No.)

                 1818 North Farwell Avenue, Milwaukee, WI         53202
                 ----------------------------------------         ------
               (Address of principal executive offices)          (Zip Code)

       Registrant's telephone number, including area code: (312) 224-8812

                                   Copies to:
                             Gregory Sichenzia, Esq.
                              Thomas A. Rose, Esq.
                       Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                            New York, New York 10018
                              Phone: (212) 930-9700
                               Fax: (212) 930-9725

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 (see General Instructions A.2. below):

/_/ 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))

                                       1
Item 3.01     Notice of Delisting or Failure to Satisfy a Continued Listing Rule
              or Standard; Transfer of Listing.

      On August 22, 2006,  Thomas  Equipment,  Inc. (the "Company"),  received a
letter from the American Stock Exchange  ("AMEX") that the Company does not meet
certain  continued  listing  standards and has therefore  become  subject to the
procedures and  requirements of Section 1009 of the AMEX Company Guide ("Company
Guide").

      Specifically,  the Company has been notified it is not in compliance  with
Section 1003(a)(i) of the Company Guide with  shareholders'  equity of less than
$2,000,000 and losses from continuing operations and/or net losses in two out of
its three most recent fiscal years; and Section 1003(a)(ii) of the Company Guide
with  shareholders'  equity of less than  $4,000,000 and losses from  continuing
operations  and/or net losses in three out of its four most recent fiscal years.
The Company is also not in compliance  with Section  1003(a)(iv)  of the Company
Guide in that it has sustained  losses which are so  substantial  in relation to
its overall  operations or its existing  financial  resources,  or its financial
condition has become so impaired that it appears questionable, in the opinion of
the AMEX, as to whether such company will be able to continue  operations and/or
meet its obligations as they mature.

      According to the AMEX notice,  the Company must submit a plan by September
21, 2006 advising of action it has taken, or will take, that would bring it into
compliance with Sections  1003(a)(i) and 1003(a)(ii) of the Company Guide within
a maximum of 18 months and Section  1003(a)(iv) of the Company Guide by November
30, 2006.

      If the plan is  accepted,  the Company may be able to continue its listing
during the plan period,  during which time it will be subject to periodic review
to determine  whether it is making  progress  consistent  with the plan.  If the
Company does not submit a plan, or if the plan is not accepted, the Company will
be subject to delisting proceedings.

      The  Company  intends  to  issue a formal  plan to the  AMEX on or  before
September 21, 2006 to address the issues raised by the AMEX.

                                       2
SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                                     THOMAS EQUIPMENT, INC.

Date:  August 23, 2006                               /s/ JAMES E. PATTY
                                                     ------------------
                                                     James E. Patty,
                                                     CEO

                                       3