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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
        AND EXCHANGE COMMISSION </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
        D.C. 20549 </strong></font></div>
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        8-K </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PURSUANT
        TO SECTION 13 OR 15(d) OF THE </strong></font></div>
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        EXCHANGE ACT OF 1934 </strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Date
        of Report (Date of earliest event reported): September 20, 2006
</strong></font></div>
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        <div>
          <hr style="COLOR: black" align="center" noshade size="1" width="10%">
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        of principal executive offices) </strong></font></div>
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        telephone number, including area code: (252) 975-2000 </strong></font></div>
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        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: </font></div>
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                  communications pursuant to Rule 425 under the Securities Act (17
                  CFR
                  230.425) </font></div>
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                  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                  240.14a-12) </font></div>
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                  communications pursuant to Rule 13e-4(c) under the Exchange Act
                  (17 CFR
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div>
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        </div>&#160;&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <hr style="COLOR: black" align="left" noshade size="1" width="100%">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 54pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>In
        this report on Form 8-K, the words &#8220;we,&#8221; &#8220;our&#8221; and similar terms refer to the
        Registrant, Fountain Powerboat Industries, Inc.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
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        <div id="HDR">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        2.02. Results of Operations and Financial Condition </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        September 20, 2006, the Registrant issued a press release announcing the
        results
        of operations for the fiscal year ended June 30, 2006. A copy of our press
        release is furnished as Exhibit 99.1 to this Report. Also on September 20,
        2006
        the Registrant hosted a conference call during which the Registrant&#8217;s financial
        and operating performance during the fiscal year ending June 30, 2006 was
        discussed with analysts, investors and other interested parties.</font></div>
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              <td align="left" valign="bottom" width="3%">&#160;</td>
              <td align="left" valign="middle" width="61%">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" width="8%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>Exhibit&#160;No.</strong></font></div>
              </td>
              <td align="left" valign="bottom" width="3%" style="border-bottom: #ffffff thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
                  Description</strong></font></div>
              </td>
            </tr>
            <tr>
              <td valign="top" width="8%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
              </td>
              <td align="left" valign="bottom" width="3%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="61%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Copy
                  of our press release dated September 20,
                  2006</font></div>
              </td>
            </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Disclosures
        About Forward Looking Statements </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Statements
        in this Report and its exhibits relating to our plans, strategies, economic
        performance and trends, projections of results of specific activities or
        investments, expectations or beliefs about future events or results, and
        other
        statements that are not descriptions of historical facts, may be forward-looking
        statements within the meaning of the Private Securities Litigation Reform
        Act of
        1995, Section 27A of the Securities Act of 1933 and Section 21E of the
        Securities Exchange Act of 1934. Forward-looking information is inherently
        subject to risks and uncertainties, and actual results could differ materially
        from those currently anticipated, from our historical results, or from any
        results expressed or implied by the forward looking statements. Forward-looking
        statements may be identified by terms such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;could,&#8221;
&#8220;expects,&#8221; &#8220;attain,&#8221; &#8220;plans,&#8221; &#8220;intends,&#8221; &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221;
&#8220;predicts,&#8221; &#8220;forecasts,&#8221; &#8220;potential&#8221; or &#8220;continue,&#8221; or similar terms or the
        negative of these terms, or other statements concerning our goals or opinions
        or
        judgments of our management about future events. Factors that could influence
        the accuracy of those forward-looking statements include factors discussed
        in
        our Annual Report on Form 10-K and in other documents we file with the
        Securities and Exchange Commission from time to time. Copies of those reports
        are available through our Internet website at </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>www.fountainpowerboats.com</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        or
        directly through the Commission&#8217;s website at </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>www.sec.gov.
        </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
        factors that could influence the accuracy of those forward-looking statements
        include, but are not limited to: the financial success or changing strategies
        of
        our dealers and customers; effects of changes in the domestic and international
        economies on the marine industry and customer purchase decisions; our sales
        volume and our ability to meet our sales goals; customer acceptance of our
        products, services and price structure; the success of our brand development
        efforts; the volatile and competitive nature of the marine industry and our
        ability to compete effectively against other manufacturers of products similar
        to ours; market conditions; changes in foreign exchange rates; actions of
        government regulators; our ability to control costs; changes in interest
        rate
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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        to the requirements of the Securities Exchange Act of 1934, as amended, we
        have
        duly caused this Report to be signed on our behalf by the undersigned thereunto
        duly authorized. </font></div>
      <div align="left">
        <table border="0" cellpadding="0" cellspacing="0" width="100%">

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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <td align="left" valign="middle" width="3%">&#160;</td>
              <td align="left" valign="bottom" width="1%">&#160;</td>
              <td align="left" valign="middle" width="34%">&#160;</td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FOUNTAIN
                  POWERBOAT INDUSTRIES, INC.</strong></font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="34%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  &#160;&#160;&#160;(Registrant)</font></div>
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              <td align="left" colspan="2" valign="middle" width="4%">&#160;</td>
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              <td align="left" valign="top" width="34%" style="border-bottom: #ffffff solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Date:
                  September 22, 2006</strong></font></div>
              </td>
              <td align="left" valign="bottom" width="1%" style="border-bottom: #ffffff solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
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              </td>
              <td align="left" valign="bottom" width="1%" style="border-bottom: #ffffff solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="34%" style="border-bottom: black thin solid;">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                  Irving L. Smith</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="1%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              </td>
              <td align="left" valign="bottom" width="34%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Irving
                  L. Smith</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="34%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
                  Financial Officer</font></div>
              </td>
            </tr>

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{"company-data": {"conformed-name": "FOUNTAIN POWERBOAT INDUSTRIES INC", "cik": "0000764858", "assigned-sic": "3730", "irs-number": "561774895", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10316", "film-number": "061108445"}, "business-address": {"street1": "1653 WICHARDS BEACH ROAD", "city": "WASHINGTON", "state": "NC", "zip": "27889", "phone": "9199752000"}, "mail-address": {"street1": "P O BOX 457", "street2": "WHICHARDS BEACH RD", "city": "WASHINGTON", "state": "NC", "zip": "27889"}, "former-company": {"former-conformed-name": "TOV VENTURES LTD", "date-changed": "19860902"}}
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        D.C. 20549
FORM
        8-K
PURSUANT
        TO SECTION 13 OR 15(d) OF THE
SECURITIES
        EXCHANGE ACT OF 1934
Date
        of Report (Date of earliest event reported): September 20, 2006
FOUNTAIN
        POWERBOAT
INDUSTRIES,
        INC.
(Exact
        name of registrant as specified in its charter)
Nevada
000-14712
56-1774895
(State
                  or other jurisdiction
of
                  incorporation)
(Commission
                  File Number)
(IRS
                  Employer
Identification
                  No.)
Post
        Office Drawer 457
Washington,
        North Carolina 27889
(Address
        of principal executive offices)
Registrant's
        telephone number, including area code: (252) 975-2000
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))
In
        this report on Form 8-K, the words "we," "our" and similar terms refer to the
        Registrant, Fountain Powerboat Industries, Inc.
Item
        2.02. Results of Operations and Financial Condition
On
        September 20, 2006, the Registrant issued a press release announcing the
        results
        of operations for the fiscal year ended June 30, 2006. A copy of our press
        release is furnished as Exhibit 99.1 to this Report. Also on September 20,
        2006
        the Registrant hosted a conference call during which the Registrant's financial
        and operating performance during the fiscal year ending June 30, 2006 was
        discussed with analysts, investors and other interested parties.
Exhibit No.
Exhibit
                  Description
99.1
Copy
                  of our press release dated September 20,
                  2006
Disclosures
        About Forward Looking Statements
Statements
        in this Report and its exhibits relating to our plans, strategies, economic
        performance and trends, projections of results of specific activities or
        investments, expectations or beliefs about future events or results, and
        other
        statements that are not descriptions of historical facts, may be forward-looking
        statements within the meaning of the Private Securities Litigation Reform
        Act of
        1995, Section 27A of the Securities Act of 1933 and Section 21E of the
        Securities Exchange Act of 1934. Forward-looking information is inherently
        subject to risks and uncertainties, and actual results could differ materially
        from those currently anticipated, from our historical results, or from any
        results expressed or implied by the forward looking statements. Forward-looking
        statements may be identified by terms such as "may," "will," "should," "could,"
"expects," "attain," "plans," "intends," "anticipates," "believes," "estimates,"
"predicts," "forecasts," "potential" or "continue," or similar terms or the
        negative of these terms, or other statements concerning our goals or opinions
        or
        judgments of our management about future events. Factors that could influence
        the accuracy of those forward-looking statements include factors discussed
        in
        our Annual Report on Form 10-K and in other documents we file with the
        Securities and Exchange Commission from time to time. Copies of those reports
        are available through our Internet website at
www.fountainpowerboats.com
or
        directly through the Commission's website at
www.sec.gov.
Other
        factors that could influence the accuracy of those forward-looking statements
        include, but are not limited to: the financial success or changing strategies
        of
        our dealers and customers; effects of changes in the domestic and international
        economies on the marine industry and customer purchase decisions; our sales
        volume and our ability to meet our sales goals; customer acceptance of our
        products, services and price structure; the success of our brand development
        efforts; the volatile and competitive nature of the marine industry and our
        ability to compete effectively against other manufacturers of products similar
        to ours; market conditions; changes in foreign exchange rates; actions of
        government regulators; our ability to control costs; changes in interest
        rate
        levels; and other developments or changes in or that affect our business
        that we
        do not expect or that we cannot control. Although our management believes
        that
        the expectations reflected in the forward-looking statements are reasonable,
        we
        cannot guarantee future results, levels of activity, performance or
        achievements. We have no obligation to update these forward-looking statements.
2
SIGNATURES
Pursuant
        to the requirements of the Securities Exchange Act of 1934, as amended, we
        have
        duly caused this Report to be signed on our behalf by the undersigned thereunto
        duly authorized.
FOUNTAIN
                  POWERBOAT INDUSTRIES, INC.
(Registrant)
Date:
                  September 22, 2006
By:
/s/
                  Irving L. Smith
Irving
                  L. Smith
Chief
                  Financial Officer
3