`SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20459

                                   FORM 10-KSB

    (X) Annual Report Pursuant to Section 13 or 15(d) of the Securities and
                              Exchange Act of 1934.

                      For the Year Ended December 31, 2003

                        Commission File Number: 333-44586

                           Maxim Mortgage Corporation
             (Exact name of Registrant as specified in its Charter)

                                    DELAWARE
                       (State of or other jurisdiction of
                         incorporation or organization)

                                   58-2565680
                             (IRS Employer I.D. No.)


              7740 Roswell Road, Suite 400, Atlanta, Georgia 30350
                    (Address of Principal Executive Offices)

                                 (404) 591-0675
              (Registrant's telephone number, including area code)

                                      None
          (Securities registered pursuant to Section 12(b) of the Act)

                         Common Stock, $.0001 Par Value
          (Securities registered pursuant to Section 12(g) of the Act)

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 other shorter period that the registrant
was required to file such reports), and has been subject to such filing
requirements for the past 90 days. _X_ Yes ___No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-B is not contained herein and will not be contained, to the best
of registrant's knowledge, in definitive proxy or information statements
incorporated by referencing Part III of this Form 10-KSB or any amendment to
this Form 10-KSB. _X__

Issuer's revenues for the most recent fiscal year: $2,245,620

The aggregate market value of the voting stock held by non-affiliates of the
registrant at December 31, 2003 was $264,348. Shares of common stock held by
each officer and director and by each person who owns more that 5% of the
outstanding common stock have been excluded in that such persons may be deemed
to be affiliates. This determination of affiliate status is not necessarily a
conclusive determination for other purposes.




                                       1




Indicate the number of shares outstanding of each of the issuer's classes of
stock, as of the latest practicable date. As of March 31, 2004: 39,811,600
Common Shares

Documents Incorporated By Reference - NONE

Transitional small business disclosure format. __ Yes _X_No





                                        2




                           Maxim Mortgage Corporation

                                  FORM 10 - KSB

                                Table of Contents


PART I.
        ITEM 1. Description of Business                                    4
        ITEM 2. Description of Property                                    6
        ITEM 3. Legal Proceedings                                          6
        ITEM 4. Submission of Matters to a Vote of Security Holders        6
PART II
        ITEM 5. Market for the Common Equity and Related Stockholder
                Matters                                                    6
        ITEM 6. Plan of Operation                                          7
        ITEM 7. Financial Statements                                       9
        ITEM 8. Changes In and Disagreements With Accountants on
                Accounting and Financial Disclosures                       22
        ITEM 8a. Controls and Procedures                                   22
PART III
        ITEM 9  Directors, Executive Officers, Promoters and Control
                Persons; Compliance with Section 16(a) of the
                Exchange Act                                               22
        ITEM 10 Executive Compensation                                     23
        ITEM 11 Security Ownership of Certain Beneficial Owners and
                Management                                                 25
        ITEM 12 Certain Relationships and Related Transactions             25
        ITEM 13 Exhibits, Financial Statement Schedules and Reports
                on Form 8-K                                                25
        ITEM 14 Principal Accountant Fees and Services                     26

        Signatures                                                         26



                                       3





                                     PART I.

ITEM 1 - DESCRIPTION OF BUSINESS

General description:

We are a residential and commercial mortgage broker.

1. Principal products or services and their markets:

We offer a variety of conventional, non-conforming and government loan programs
to potential customers.

- Conventional loans are mortgages that are not backed by government insurance
programs. They may carry fixed or variable interest rates with repayment terms
as long as 40 years. In many cases, mortgages can be obtained with no down
payment, although mortgage insurance is generally required when less than 20% is
paid upfront.

- Non-conforming loans are mortgages to borrowers that have non-traditional
income, credit or property issues. Non-conforming mortgage loans are inherently
more risky than conventional mortgage loans. Because the non-conventional market
has no set standards, loan programs offered by various lenders may terminate
without notice.

- Government loans are mortgages that are insured or guaranteed by the United
States government.

2. Distribution methods of the products or services:

As of December 31, 2003, we employed approximately fifty mortgage loan
originators who market to individuals seeking to purchase or refinance
residential or commercial real estate.

3. Status of any publicly announced new product or service:

None.

4. Competitive business conditions and the small business issuer's competitive
position in the industry and methods of competition:

The National Association of Mortgage Brokers reports that there are more than
20,000 mortgage brokerage operations in the U.S., employing an estimated 200,000
people. The U.S. Department of Housing & Urban Development reported that 56% of
mortgage originations were made by mortgage companies in 1997 compared to only
22% in 1980.

The mortgage lending industry is highly fragmented with many players serving the
borrowing community. We will face competition on many fronts, both at the retail
sales level and in the area of retaining quality mortgage brokers. Borrowers
have a plethora of financing alternatives including: consumer finance companies,
mortgage banking companies, independent mortgage brokers, savings banks,
community banks, credit unions, thrift institutions, credit card issuers,
insurance companies, Federal Home Loan Mortgage Corporation and other entities
engaged in mortgage lending.

We will face the challenge of recruiting and retaining high quality loan
originators. We are an early stage company with limited capital resources. This
may make it difficult for us to successfully compete against larger, better
capitalized firms in the marketplace.

Competition among industry players can take the form of interest rates, loan
origination fees, term and amount of loan, marketing and distribution channels
(including on-line applications), customer services, and convenience of
obtaining a loan.




                                       4



We believe that the principal competitive factors in our market are product
knowledge, honesty, brand recognition, reliability, customer service and
pricing. Most of our current and potential competitors have longer operating
histories and significantly greater financial, technical, marketing and public
relations resources than we have. Competition of the type described above could
materially adversely affect our business, results of operations and financial
condition.

5. Sources and availability of raw materials and the names of principal
suppliers:

We are dependent on mortgage lending relationships to fund our mortgage loans
since we act as a broker. As of December 31, 2003, we had approximately three
hundred lenders that could fund our loans.

6. Dependence on one or a few major customers:

None.

7. Patents, trademarks, licenses, franchises, concessions, royalty agreements or
labor contracts, including duration:

None.

8. Need for any government approval of principal products or services:

We are licensed or exempt by each of the states we act as a mortgage broker. In
addition, we are licensed as an FHA and VA broker.

9. Effect of existing or probable governmental regulations on the business:

Our operations are subject to extensive regulation, supervision and licensing by
federal, state and local governmental authorities and are subject to various
laws and judicial and administrative decisions imposing requirements and
restrictions on part or all of our operations.

Our mortgage activities are subject to the Federal Truth-in-Lending Act and
Regulation Z (including the Home Ownership and Equity Protection Act of 1994),
the Federal Equal Credit Opportunity Act, as amended, and Regulation B, the Fair
Credit Reporting Act of 1970, as amended, the Federal Real Estate Settlement
Procedures Act and Regulation X, the Home Mortgage Disclosure Act, the Federal
Debt Collection Practices Act and the National Housing Act of 1934, the Georgia
Fair Lending Act, as well as other federal and state statutes and regulations
affecting our activities.

We are also subject to the rules and regulations of, and examinations by, state
and federal regulatory authorities with respect to originating and processing
loans. These rules and regulations, among other things, impose licensing
obligations on us, establish eligibility criteria for mortgage loans, prohibit
discrimination, govern inspections and appraisals of properties and credit
reports on loan applicants, regulate assessment, collection, foreclosure and
claims handling, investment and interest payments on escrow balances and payment
features, mandate certain disclosures and notices to borrowers and, in some
cases, fix maximum interest rates, fees and mortgage loan amounts. Failure to
comply with these requirements can lead to loss of approved status, certain
rights of rescission for mortgage loans, class action lawsuits and
administrative enforcement action.

There can be no assurance that we will maintain compliance with these
requirements in the future without additional expenses, or that more restrictive
local, state or federal laws, rules and regulations will not be adopted or that
existing laws and regulations will not be interpreted in a more restrictive
manner, which would make compliance more difficult and more expensive for us.

Violations of local laws may be alleged or charged by state or foreign
governments and we may unintentionally violate local laws. Local laws may be
modified or new laws enacted, in the future. Any of these developments could
have a material adverse effect on our business, results of operations and
financial condition.





                                       5




10. Estimate of the amount spent during each of the last two fiscal years on
research and development activities:

None.

11. Costs and effects of compliance with environmental laws (federal, state and
local):

None.

12. Number of total employees and number of full time employees:

As of December 31, 2003, we have approximately eight full time employees and
fifty part time employees. From time to time, we may employ independent
contractors to support our development, technical, marketing, sales, support and
administrative organizations. Competition for qualified personnel in the
industry in which we compete is intense. We believe that our future success will
depend in part on our continued ability to attract, hire or acquire and retain
qualified employees.

ITEM 2 - DESCRIPTION OF PROPERTY

We have our corporate headquarters in Atlanta, Georgia. Substantially all of our
operating activities are conducted from approximately 4,800 square feet of
office space at a monthly cost of $5,477. We believe that additional space will
be required as our business expands and believe that we can obtain suitable
space as needed. We do not own any real estate.

ITEM 3 - LEGAL PROCEEDINGS

NONE

ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

NONE

PART II.

ITEM 5 - MARKET FOR THE COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

a. Market information: Our common stock is traded on the over-the-counter
bulletin board ("OTCBB") under the symbol "MXMO". The following table sets forth
the range of high and low closing bid quotations of our common stock for each
fiscal quarter since we have been publicly traded:

BID OR TRADE PRICES

2002 FISCAL YEAR                       HIGH      LOW

Quarter Ending 03/31/02.............. $0.00     $0.00

Quarter Ending 06/30/02.............. $0.00     $0.00

Quarter Ending 09/30/02.............. $0.06     $0.31

Quarter Ending 12/31/02.............. $0.10     $0.28

Quarter Ending 03/31/03.............. $0.0625   $0.1875




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Quarter Ending 06/30/03.............. $0.015    $0.08

Quarter Ending 09/30/03.............. $0.025    $0.06

Quarter Ending 12/31/03.............. $0.02     $0.07

b. Holders: There are 87 holders of our common stock.
c. Dividends: We have not and do not anticipate that we will pay any dividends
for the foreseeable future.

ITEM 6 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND RESULTS OF
OPERATIONS

General discussion.

At December 31, 2001, we were a development stage enterprise. In January 2002,
we commenced our planned principal operations and are currently engaged in the
brokerage and origination of mortgage loans on behalf of various third party
lenders.

In 2003, we signed an agreement with NovaStar Home Mortgage, Inc. to open and
operate a NovaStar Home Mortgage, Inc. branch. NovaStar's parent was founded in
1996 as a nationwide wholesale organization of non-conforming mortgage loans. In
1999, NovaStar founded a retail branch organization that currently consists of
more than four hundred branches nationwide. Pursuant to the agreement, effective
April 23, 2003, we formed NovaStar/MXMO, a Delaware Limited Liability Company
("NovaStar"), under which all of our mortgage broker activities are currently
being conducted.

Readers are referred to the cautionary statement, which addresses
forward-looking statements made by us.

Results of operations

For the year-ended December 31, 2001, we did not generate any revenues other
than interest income of $3,105 and we incurred a net loss of approximately
$72,500. Our operating expenses consisted substantially of employee compensation
and benefits, and consulting and professional fees as we prepared to implement
our planned principal operations.

During the year ended December 31, 2002, we implemented our planned principal
operations and generated broker fee income of approximately $2,212,000. These
revenues were offset by expenses of approximately $2,304,100, which resulted in
a net loss of approximately $91,400. Approximately 80% of these expenses related
to employee compensation and benefits that to a large part fluctuate in relation
to revenues. This is because a significant portion of our payroll expenses are
commission based and are paid only after we receive the related fee income from
the origination of loans.





                                       7




Other expenses consisted substantially of professional and consulting fees of
approximately $125,000, selling and marketing expenses of approximately $127,100
and occupancy and equipment expenses of approximately $96,900. Professional and
consulting fees, and selling and marketing expenses increased substantially from
the preceding year as we were developing our business and infrastructure. With
respect to occupancy and equipment, these expenses increased from zero in 2001
to approximately $96,900 in 2002 primarily as a result of rent expense that we
began to incur in 2002. In 2001, these expenses were zero as our President
allowed us to use a portion of his home for office space in such year. In 2002,
rent expense increased to approximately $50,000. Other significant occupancy
expenses incurred in 2002 related to telephone expense of approximately $34,400
and depreciation expense of approximately $14,000.

During the year ended December 31, 2003, we implemented our planned principal
operations and generated broker fee income of approximately $2,245,600. These
revenues were offset by expenses of approximately $2,356,000, which resulted in
a net loss of approximately $110,400. Approximately 72% of these expenses
related to employee compensation and benefits that to a large part fluctuate in
relation to revenues. This is because a significant portion of our payroll
expenses are commission based that are paid only after we receive the related
fee income from the origination of loans.

Other expenses consisted substantially of professional and consulting fees of
approximately $138,000, selling and marketing expenses of approximately $287,000
and occupancy and equipment expenses of approximately $132,000. Professional and
consulting fees, and selling and marketing expenses increased from the preceding
year as we were developing our business and infrastructure. With respect to
occupancy and equipment, these expenses increased from zero in 2001 to
approximately $96,900 in 2002 to $132,000 in 2003, primarily as a result of
additional rent expense that we began to incur in 2002 and in 2003. In 2001,
these expenses were zero as our President allowed us to use a portion of his
home for office space in such year. In 2002, rent expense increased to
approximately $50,000. Other significant occupancy expenses incurred in 2003
related to office supplies of approximately $30,400 and depreciation expense of
approximately $21,000.

Our results of operations for the years ended December 31, 2003 and 2002, are
not necessarily indicative of the results that may occur for any future period.
We expect to expand our business and client base, which will result in
increasing expenses as we increase the number of sales and support personnel.

Liquidity and capital resources

During the year ended December 31, 2003, we used cash flow from operating
activities of approximately $124,300 as compared to cash generated for such
activities of approximately $12,400 in 2002. The use of cash resulted primarily
from the payment of certain liabilities we had outstanding as of December 31,
2002.

Cash used by investing activities decreased from approximately $52,900 in 2002
to approximately $13,000 in 2003. This decrease resulted from less required
purchases of furniture, fixtures and equipment. We do not plan to make any
significant additions to our plant, property or equipment in the next twelve
months.

Cash flows provided by financing activities decreased from approximately
$176,000 in 2002 to $15,400 in 2003. The cash flows in 2002 were generated
through sales of our common stock. The cash flows in 2003 were generated through
cash advances from our President.

In total, our cash decreased by approximately $121,800 during the year ended
December 31, 2003.

Our consolidated financial statements are prepared using accounting principles
generally accepted in the United States of America applicable to a going
concern, which contemplate the realization of assets and liquidation of
liabilities in the normal course of business. We have suffered recurring losses
from operations, and in 2003 used cash of approximately $124,200 to fund our
operating activities. We believe that we will generate positive results of
operations in 2004, and that any short term cash shortfalls resulting from
timing can be alleviated via short term borrowings from certain stockholders. In
addition, we expect to make expenditures from anticipated cash flows, of at
least $1,900,000 during the next twelve months. These funds will be primarily
used to advertise, hire, retain and support mortgage loan originators and
mortgage loan processors, and for general working capital. Because the majority
of these expenses are variable and dependent upon the receipt of actual revenues
(i.e. employee benefits and compensation), we currently believe we have enough
capital to finance our planned operations.




                                       8




Limited operating history

As a result of our limited operating history, we have limited meaningful
historical financial data upon which to predict future operating results.
Accordingly, we do not believe that you should rely on our current operating
results to predict our future performance. You must consider our prospects in
light of the risks, expenses and difficulties encountered by companies in new
and rapidly evolving markets. We may not be successful in addressing these risks
and difficulties. Revenues and operating results generally will depend on the
volume of, timing of and ability to complete transactions, which are difficult
to forecast. In addition, there can be no assurance that we will be able to
accurately predict our net revenue, particularly in light of the intense
competition for mortgage services, and the uncertainty as to the broad
acceptance of our products and service. We may be unable to adjust spending in a
timely manner to compensate for any unexpected revenue shortfall or other
unanticipated changes in our industry. Any failure by us to accurately make
predictions could have a material adverse effect on our business, results of
operations and financial condition.

Critical Accounting Policies

Our critical accounting policies, including the assumptions and judgments
underlying them, are disclosed in the Notes to the Consolidated Financial
Statements. We have consistently applied these policies in all material
respects. We do not believe that our operations to date have involved
uncertainty of accounting treatment, subjective judgment, or estimates, to any
significant degree.

CAUTIONARY STATEMENT

This Form 10-KSB, press releases and certain information provided periodically
in writing or orally by the Corporation's officers or its agents contain
statements which constitute forward-looking statements within the meaning of
Section 27A of the Securities Act, as amended and Section 21E of the Securities
Exchange Act of 1934. The words expect, anticipate, believe, goal, plan, intend,
estimate and similar expressions and variations thereof if used are intended to
specifically identify forward-looking statements. Those statements appear in a
number of places in this Form 10-KSB and in other places, particularly,
Management's Discussion and Analysis of Financial Condition and Results of
Operations, and include statements regarding the intent, belief or current
expectations of the Corporation, its directors or its officers with respect to,
among other things: (i) the Corporation's liquidity and capital resources; (ii)
its financing opportunities and plans and (iii) its future performance and
operating results. Investors and prospective investors are cautioned that any
such forward-looking statements are not guarantees of future performance and
involve risks and uncertainties, and that actual results may differ materially
from those projected in the forward-looking statements as a result of various
factors. The factors that might cause such differences include, among others:
(i) any material inability of the Corporation to successfully identify,
consummate and integrate the acquisition of finance receivables at reasonable
and anticipated costs, (ii) any material inability of the Corporation to
successfully develop its products; (iii) any adverse effect or limitations
caused by governmental regulations; (iv) any adverse effect on the Corporation's
continued positive cash flow and ability to obtain acceptable financing in
connection with its growth plans; (v) any increased competition in business;
(vi) any inability of the Corporation to successfully conduct its business in
new markets; and (vii) other risks including those identified in the
Corporation's filings with the SEC. The Corporation undertakes no obligation to
publicly update or revise the forward looking statements made in this Form
10-KSB, to reflect events or circumstances after the date of this Form 10-KSB or
to reflect the occurrence of unanticipated events.

ITEM 7 - FINANCIAL STATEMENTS






                           MAXIM MORTGAGE CORPORATION

                        Consolidated Financial Statements
                       as of December 31, 2003 and for the
                     Years Ended December 31, 2003 and 2002
                                       and
                          Independent Auditors' Report




                                       9




                           MAXIM MORTGAGE CORPORATION

                                TABLE OF CONTENTS
________________________________________________________________________________


                                                                      PAGE

Independent Auditors' Report                                           11

Consolidated financial statements:

   Consolidated Balance Sheet as of December 31, 2003                  12

   Consolidated  Statements of Operations for the years ended
       December 31, 2003 and 2002                                      13

   Consolidated Statements of Stockholders' Equity for the years
      ended December 31, 2003 and 2002                                 14

   Consolidated  Statements of Cash Flows for the years ended
       December 31, 2003 and 2002                                      15

  Notes to Consolidated Financial Statements                           16

________________________________________________________________________________




                                       10




INDEPENDENT AUDITORS' REPORT

To the Stockholders and the Board of Directors of Maxim Mortgage Corporation:

We have audited the  accompanying  consolidated  balance sheet of Maxim Mortgage
Corporation  and subsidiary  (the  "Company"),  as of December 31, 2003, and the
related  consolidated  statements of  operations,  stockholders  equity and cash
flows  for the years  ended  December  31,  2003 and  2002.  These  consolidated
financial  statements are the  responsibility of the Company's  management.  Our
responsibility  is  to  express  an  opinion  on  these  consolidated  financial
statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the  United  States of  America.  Those  standards  require  that we plan and
perform the audits to obtain reasonable assurance about whether the consolidated
financial  statements  are free of  material  misstatement.  An  audit  includes
examining on a test basis,  evidence  supporting the amounts and the disclosures
in the consolidated  financial statements.  An audit also includes assessing the
accounting principles used and the significant estimates made by management,  as
well as evaluating the overall consolidated financial statement presentation. We
believe our audits provide a reasonable basis for our opinion.

In our opinion, the consolidated  financial statements referred to above present
fairly, in all material  respects,  the financial  position of the Company as of
December 31, 2003,  and the results of its operations and its cash flows for the
years ended December 31, 2003 and 2002, in conformity with accounting principles
generally accepted in the United States of America.

                          Kingery, Crouse & Hohl, P.A.

April 12, 2004
Tampa, FL




                                       11




                           MAXIM MORTGAGE CORPORATION

               CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2003
________________________________________________________________________________

ASSETS

CURRENT ASSETS -
Cash and cash equivalents                                       $    83,762

Furniture, fixtures and equipment (net of accumulated
    depreciation of $35,865)                                         39,894

Other assets                                                         13,309 

TOTAL                                                           $   136,965
                                                                ============


LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Accrued and other liabilities                                 $    52,209
  Stockholder advances                                               15,449 
      Total current liabilities                                      67,658 

STOCKHOLDERS' EQUITY:
    Preferred stock - $0.0001 par value; 5,000,000 shares
        authorized; zero shares issued and outstanding                    -
    Common stock - $0.0001 par value; 200,000,000 shares
        authorized; 39,811,638 shares issued and outstanding          3,981
    Additional paid-in capital                                      374,251
    Deficit                                                        (308,925)
         Total stockholders' equity                                  69,307 

TOTAL                                                           $   136,965
                                                                ============
________________________________________________________________________________


See notes to consolidated financial statements.




                                       12




                           MAXIM MORTGAGE CORPORATION

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                 FOR THE YEARS ENDED DECEMBER 31, 2003 AND 2002
________________________________________________________________________________

                                               2003               2002

REVENUES:
  Broker fee income                        $ 2,245,257       $  2,212,074
  Interest income                                  363                611 
    Total revenues                           2,245,620          2,212,685 

EXPENSES:
  Employee compensation and benefits         1,705,173          1,840,015
  Professional and consulting fees             138,202            125,010
  Selling and marketing                        287,040            127,136
  Occupancy and equipment                      132,114             96,831
  Office supplies                               30,379             38,576
  Other                                         63,139             76,525 
     Total expenses                          2,356,047          2,304,093 

NET LOSS                                   $  (110,427)      $    (91,408)
                                           ============      ============

Net Loss Per Share - Basic and
   Diluted                                 $     (0.00)      $     (0.00)
                                           ============      ============

Weighted Average Shares
   Outstanding - Basic and Diluted          39,811,600        38,047,800
                                           ============      ============
________________________________________________________________________________

See notes to consolidated financial statements.




                                       13




                           MAXIM MORTGAGE CORPORATION

                           CONSOLIDATED STATEMENTS OF

                    STOCKHOLDERS' EQUITY FOR THE YEARS ENDED

                           DECEMBER 31, 2003 AND 2002
_________________________________________________________________________________________________________

                                                                     Additional
                                              Common Stock             Paid-In
                                          Shares        Amount         Capital    Deficit       Total

Balances, December 31, 2001             36,034,000    $   3,603     $  184,847   $(107,090)   $  81,360

Issuance of common stock for cash        3,519,550          352        175,626           -      175,978

Common stock issued to employees           208,088           21         11,283           -       11,304

Issuance of common stock for
   marketing services                       50,000            5          2,495           -        2,500

Net loss                                         -            -              -     (91,408)     (91,408)

Balances, December 31, 2002             39,811,638        3,981        374,251    (198,498)     179,734

Net loss                                         -            -              -    (110,427)    (110,427)

Balances, December 31, 2003             39,811,638    $   3,981     $  374,251   $(308,925)  $   69,307
                                       ============   ==========    ===========  ==========  ===========
_________________________________________________________________________________________________________

See notes to consolidated financial statements.




                                       14





                           MAXIM MORTGAGE CORPORATION

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                 FOR THE YEARS ENDED DECEMBER 31, 2003 AND 2002
_____________________________________________________________________________________

                                                              2003           2002
Cash Flows From Operating Activities:
Net loss                                                  $ (110,427)    $  (91,408)
Adjustments to reconcile net loss to net cash provided
 by (used in) operating activities:
   Depreciation                                               21,240         13,993
   Stock based compensation and consulting                         -         13,804
   Employee receivable                                         5,225         (5,225)
   Other current assets                                            -          3,500
   Other assets                                              (11,559)        (1,750)
   Accrued and other liabilities                             (28,746)        79,454 
Net Cash Provided By (Used in) Operating Activities         (124,267)        12,368 

Cash Used By Investing Activities -
  Purchases of furniture, fixtures and equipment             (13,013)       (52,882)

Cash Flows From Financing Activities:
  Advances from stockholder - net                             15,449              -
  Proceeds from issuance of common stock                           -        175,978 
Net Cash Provided By Financing Activities                     15,449        175,978 

Net increase (decrease) in cash and cash equivalents        (121,831)       135,464

Cash and cash equivalents at beginning of year               205,593         70,129 

Cash and cash equivalents at end of year                  $   83,762     $  205,593
                                                          ===========    ===========

Supplemental cash flow information:

Cash paid for:
         Interest                                         $        -     $        -
                                                          ===========    ===========
         Income taxes                                     $        -     $        -
                                                          ===========    ===========
_____________________________________________________________________________________

See notes to consolidated financial statements.





                                       15






                           MAXIM MORTGAGE CORPORATION

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
________________________________________________________________________________

NOTE A - FORMATION AND OPERATIONS OF THE COMPANY

Maxim Mortgage Corporation, formerly known as JAHB Holdings, Inc. ("Maxim") was
incorporated on January 5, 1999 under the laws of the state of Delaware. Maxim
commenced its planned principal operations in January 2002, and together with
its subsidiary (as discussed below) is engaged in the brokerage and origination
of mortgage loans on behalf of various third party lenders. Maxim's operations
are located in Atlanta, Georgia, and substantially all of the loans it
originates arise from residents of such state. As a result, it is at least
reasonably possible that Maxim could experience a severe impact on its
operations if the Georgia economy experienced a downturn.

In 2003, we signed an agreement with NovaStar Home Mortgage, Inc. to open and
operate a NovaStar Home Mortgage, Inc. branch. NovaStar's parent was founded in
1996 as a nationwide wholesale organization of non-conforming mortgage loans. In
1999, NovaStar founded a retail branch organization that currently consists of
more than four hundred branches nationwide. Pursuant to the agreement, effective
April 23, 2003, we formed NovaStar/MXMO, a Delaware Limited Liability Company
("NovaStar"), under which all of our mortgage broker activities are currently
being conducted.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts and
balances of Maxim and our 99.98% owned subsidiary, NovaStar (collectively "we",
"us", "our"). All significant inter-company accounts and balances have been
eliminated in consolidation.

Use of Estimates

The preparation of consolidated financial statements in accordance with
accounting principles generally accepted in the United States of America
requires us 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 financial statements. The reported amounts of
revenues and expenses during the reporting period may be affected by the
estimates we are required to make. Actual results could differ from our
estimates.

Concentration of Credit Risk

Financial instruments, which potentially subject us to significant
concentrations of credit risk, consist primarily of cash and cash equivalents.
At December 31, 2003 we maintain our cash and cash equivalents in deposit
accounts with high quality financial institutions, which deposit accounts at
times may exceed federally insured limits. We have not experienced any losses in
such accounts.




                                       16




Revenue Recognition

We recognize broker fee income when mortgage transactions are funded.

Statement of Cash Flows

For purposes of the statement of cash flows, we consider all highly liquid
investments purchased with an original maturity of three months or less to be
cash equivalents.

Financial Instruments

We believe the book value of our current assets and liabilities approximates
their fair values due to their short-term nature.

Advertising Expense

We expense advertising costs as they are incurred. Advertising costs incurred
during the years ended December 31, 2003 and 2002 approximated $500 and $0,
respectively.

Furniture, Fixtures and Equipment

Furniture, fixtures and equipment are stated at cost. Major additions are
capitalized, while minor additions and maintenance and repairs, which do not
extend the useful life of an asset, are expensed as incurred. Depreciation is
computed using an accelerated method over the estimated useful lives of the
assets, which range from 3 to 7 years.

Stock-Based Compensation

We account for equity instruments issued to employees for services based on the
fair value of the equity instruments issued and account for equity instruments
issued to those other than employees based on the fair value of the
consideration received or the fair value of the equity instruments, whichever is
more reliably measurable.

We have adopted Statement of Financial Accounting Standards No. 148 "Accounting
for Stock-Based Compensation - Transition and Disclosure" (SFAS No. 148). This
statement amends FASB statement No. 123, "Accounting for Stock Based
Compensation". It provides alternative methods of transition for an entity that
voluntarily changes to the fair value based method of accounting for employee
stock based compensation. It also amends the disclosure provision of FASB
statement No. 123 to require prominent disclosure about the effects on reported
net income of an entity's accounting policy decisions with respect to
stock-based employee compensation. As permitted by SFAS No. 123 and amended by
SFAS No. 148, we continue to apply the intrinsic value method under Accounting
Principles Board ("APB") Opinion No. 25, "Accounting for Stock Issued to
Employees," to account for our stock-based employee compensation arrangements.




                                       17




Income Taxes

We compute income taxes in accordance with Financial Accounting Standards
Statement No. 109 "Accounting for Income Taxes" ("SFAS 109"). As such, deferred
taxes are recognized for the tax consequences of temporary differences by
applying enacted statutory rates applicable to future years to differences
between the financial statement carrying amounts and the tax basis of existing
assets and liabilities, and the effect on deferred taxes of a change in tax
rates is recognized in income in the period that included the enactment date. No
significant temporary differences existed as of December 31, 2003 or 2002.

Long-Lived Assets

We periodically review our long-lived assets for indications of impairment. If
the value of an asset is considered impaired, an impairment loss is recognized.
At December 31, 2003, we believe all of our long-lived assets are recoverable.

Recent Pronouncements

We have reviewed all new accounting pronouncements issued through 2003 and have
determined that none of them would have a material impact on our consolidated
financial position or results of operations other than as described previously.

Liquidity

Our consolidated financial statements are prepared using accounting principles
generally accepted in the United States of America applicable to a going
concern, which contemplate the realization of assets and liquidation of
liabilities in the normal course of business. We have suffered recurring losses
from operations, and in 2003 used cash of approximately $124,200 to fund our
operating activities. We believe that we will generate positive results of
operations in 2004, and that any short term cash shortfalls resulting from
timing can be alleviated via short term borrowings from certain stockholders. In
addition, substantially all or our expenses are variable (e.g. employee
compensation and benefits) and as such, any shortfall in projected revenues will
be substantially mitigated by the reduction in expenses. Accordingly, and while
there can be no assurance that we will meet our projected results of operations,
we believe we will be able to continue as a going concern for a reasonable
period of time.

NOTE B - RELATED PARTY TRANSACTIONS

Our president and majority stockholder periodically advances funds to us. These
advances approximated $38,400 during the year ended December 31, 2003. Advances
outstanding as of December 31, 2003 and 2002 approximated $15,400 and $0,
respectively. The advances are unsecured, non-interest bearing and due on
demand.





                                       18




NOTE C - INCOME TAXES

We recognized losses for both financial and tax reporting purposes during each
of the years ended December 31, 2003 and 2002. Accordingly, no provision for
income taxes and/or deferred income taxes payable have been provided for in the
accompanying financial statements.

At December 31, 2003, we had a net operating loss carryforward of approximately
$281,900 for income tax purposes. The difference between such amount and our
deficit of approximately $308,900 arises primarily from certain non-cash
compensation we recognized in prior years that is considered to be a permanent
difference. The net operating loss carryforwards expire in various years through
the year ended December 31, 2023. The deferred income tax asset arising from
this net operating loss carryforward of approximately $112,800 is not recorded
in the accompanying balance sheet because we established a valuation allowance
to fully reserve such asset, as its realization did not meet the required asset
recognition standard established by SFAS 109. The valuation allowance increased
by approximately $41,400 during the year ended December 31, 2003.

NOTE D - NET LOSS PER SHARE

We compute net loss per share in accordance with SFAS No. 128 "Earnings per
Share" ("SFAS No. 128") and SEC Staff Accounting Bulletin No. 98 ("SAB 98").
Under the provisions of SFAS No. 128 and SAB 98, basic net loss per share is
computed by dividing the net loss available to common stockholders for the
period by the weighted average number of common shares outstanding during the
period. Diluted net loss per share is computed by dividing the net loss for the
period by the number of common and common equivalent shares outstanding during
the period. Common equivalent shares outstanding as of December 31, 2003, which
consist of employee stock options, have been excluded from diluted net loss per
common share calculations because they are anti-dilutive. Accordingly basic and
diluted net loss per share are identical for each of such years.

NOTE E - COMMON STOCK OFFERING

Effective December 11, 2001, we offered 10,000,000 shares of our common stock to
the public for $.05 per share. The offering, which was on best-efforts, no
minimum basis, was closed in July 2002. We issued 3,519,550 shares under this
offering.

NOTE F - COMMITMENTS

In July 2002, we entered a lease for our administrative facility that required
monthly payments of approximately $5,600 (including sales tax) through December
31, 2005. Effective April 1, 2004, our monthly rent was reduced to approximately
$2,500 when we reduced our office space. Our president and majority stockholder
has unconditionally guaranteed payment of the monthly lease payments through
July 12, 2004, at which time such guaranty will cease. Rent expense during the
years ended December 31, 2003 and 2002 approximated $67,000 and $48,000,
respectively.




                                       19




At December 31, 2003, we are obligated under an employment agreement with our
president and majority stockholder. The agreement, which expires on January 1,
2006, requires us to pay annual, base compensation of $72,000 and various fringe
benefits (as defined in the agreement). We have the right to terminate the
employment of our president for any reason; if we elect to do so without
reasonable cause, we will be required to pay him a maximum of one month's
severance.

NOTE G - STOCK OPTIONS

In October 2001, our stockholder adopted our 2001 Stock Option Plan, which,
prior to its discontinuance in June 2003, provided for the grant to employees,
officers, directors and consultants of options to purchase up to an aggregate of
10,000,000 shares of our common stock, consisting of both "incentive stock
options" and "non-qualified" options. Incentive stock options were issuable only
to employees, while non-qualified options could have been issued to non-employee
directors, consultants and others, as well as to employees. The plan is
administered by our board of directors, which determined those individuals who
were to receive options, the time period during which the options may be
partially or fully exercised, the number of shares of common stock that may be
purchased under each option, and the option price.

A summary of the Company's stock option activity and related information for the
years ended December 31, 2003 and 2002 are as follows:

                                                       2003                      2002
                                                            Weighted                   Weighted
                                                             Average                   Average
                                                             Exercise                  Exercise
                                                 Options      Price        Options      Price

    Outstanding, beginning of year              1,324,350    $   0.09             -    $    -

    Canceled                                     (469,350)       0.13      (795,000)     0.09

    Granted                                        55,000        0.10     2,119,350      0.09

    Exercised                                           -           -             -         - 

    Outstanding, end of year                      910,000    $   0.07     1,324,350    $ 0.09
                                               ===========   =========   ===========   =======

    Exercisable at the end of the  year           303,333    $   0.07             -    $ 0.09
                                               ===========   =========   ===========   =======

    Weighted-average fair value of options
    granted during the year                        55,000    $    .10     2,119,350    $  .09
                                               ===========   =========   ===========   =======

The following table summarizes information about the options outstanding at
December 31, 2003:




                                       20




                                          Weighted
                                           Average         Weighted
                                          Remaining        Average
      Exercise             Number        Contractual       Exercise
       Price            Outstanding         Life            Price

      $  .05               500,000            2           $    .005
      $  .05               225,000            2                .005
      $  .15               175,000            2                .015
      $  .10                10,000            3                .010

                           910,000                        $    .007
                           =======                        =========

The options expire on the earlier of the date specified in the option agreement,
or the tenth anniversary of the date of grant. Incentive options not subject to
this provision are designated as being non-statutory options. Whenever an
outstanding option is terminated (other than by exercise), the shares of common
stock relating to such option were to be restored to the Plan and be available
for the grant of other options under the Plan.

We account for our stock-based compensation using the intrinsic value method
prescribed by Accounting Principles Board Opinion No. 25, "Accounting for Stock
Issued to Employees". Because of this, and because all of the options above have
exercise prices equal to the fair market value of our stock at the date of
grant, no compensation expense for such options was recorded in 2003 or 2002.
Had our compensation expense for stock-based compensation plans been determined
based upon fair values at the grant dates for awards under this plan in
accordance with SFAS No. 123, "Accounting for Stock-Based Compensation," our
December 31, 2003 net loss and net loss per share would have increased by
approximately $1,400 and $ 0.00, respectively.

The weighted average minimum value of options granted during 2003, estimated on
the date of grant using the Black-Scholes option-pricing model, approximated
$0.10. The minimum value of options granted was estimated on the dates of the
grants using the following approximate assumptions: dividend yield of 0%,
expected volatility of 2.451%, risk-free interest rate of 1.98%, and an expected
life of 3 years.

________________________________________________________________________________




                                       21




ITEM 8 - CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURES

NONE

ITEM 8a - CONTROLS AND PROCEDURES

Within 90 days prior to the date of filing of this report, we carried out an
evaluation, under the supervision and with the participation of our management,
including the Chief Executive Officer (who also effectively serves as our
Principal Financial Officer), of the design and operation of our disclosure
controls and procedures. Based on this evaluation, our Chief Executive Officer
concluded that our disclosure controls and procedures are effective for the
gathering, analyzing and disclosing the information we are required to disclose
in the reports we file under the Securities Exchange Act of 1934, within the
time periods specified in the SEC's rules and forms. There have been no
significant changes in our internal controls or in other factors that could
significantly affect internal controls subsequent to the date of this
evaluation.


ITEM 9 - DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS.

The following table and subsequent discussion contains information concerning
our director and executive officer, who will serve in the same capacity with us
upon completion of the offering. Our executive officer was elected to his
position in July 2000.


Name                 Age     Title
Joel Arberman        31      President and Director


There are no other persons nominated or chosen to become directors or executive
officers nor do we have any employees other than above.

Mr. Arberman has served as president, chief executive officer and a member of
our board of directors since July 2000. His prior experiences are listed below:


Dates of Employment                Position/Company

March 2000 until January 2003      Independent corporate finance and business
                                   development consultant.
November 1999 until March 2000     Chief Technology Officer and a member of the
                                   board of directors of ConnectivCorp, Inc.,
                                   a publicly traded company.
May 1998 until November 1999       Founder, president, chief executive officer
                                   and director of CDbeat.com, Inc.
January 1997 until May 1998        Independent corporate finance and business
                                   development consultant.
August 1995 until January 1997     Internet Analyst of Yorkton Securities, Inc.,
November 1994 until August 1995    Equity Analyst at SunAmerica Asset Management
                                   Company.
July 1993 until November 1994      Junior Analyst at First Investors Management
                                   Corporation.

Mr. Arberman holds a B.S. degree in Business Administration with a concentration
in finance and marketing and a minor in economics from the State University of
New York, at Albany.

Mr. Arberman earned a Certified Mortgage Specialist designation from the
Capstone Institute in Atlanta, Georgia.

Our directors hold office until the next annual meeting of shareholders and the
election and qualification of their successors. Directors receive no
compensation for serving on the board of directors other than reimbursement of
reasonable expenses incurred in attending meetings. Officers are appointed by
the board of directors and serve at the discretion of the board.

CONFLICTS OF INTEREST




                                       22




Our directors and officers are or may become, in their individual capacity,
officers, directors, controlling shareholders and/or partners of other entities
engaged in a variety of businesses. There exist potential conflicts of interest
including allocation of time between us and their other business activities.

ITEM 10 - EXECUTIVE COMPENSATION.

There was no officer whose salary and bonus for the period exceeded $100,000.

Mr. Arberman is currently employed by us at an annual base salary of $72,000 per
annum according to a written employment agreement signed in October 2001. His
employment agreement provides for reimbursement of business related expenses,
two weeks of vacation per calendar year, medical and disability benefits,
additional benefits as offered by us and bonus entitlement. Until there is an
independent board member, Mr. Arberman has agreed not to receive any bonus from
us. The employment contract also contains standard non-compete, termination,
confidentiality and other clauses. In addition to Mr. Arberman's base salary, he
is entitled to receive commissions (in a similar manner to other employees) for
any loans that he is responsible for originating. Total commissions paid to Mr.
Arberman during the year ended December 31, 2003 approximated $32,745.

                           Summary Compensation Table

                                                                        Salary &
Name and Principal Capacity                              Year         Commissions

Joel Arberman                                            2003           $104,745
Chairman, Chief Executive Officer, Director              2002           $110,600
                                                         2001           $0

Stock option plan

In October 2001, our stockholders adopted our 2001 Stock Option Plan, which,
prior to its discontinuance in June 2003, provided for the grant to employees,
officers, directors and consultants of options to purchase up to an aggregate of
10,000,000 shares of common stock, consisting of both "incentive stock options"
and "non-qualified" options. Incentive stock options were issuable only to
employees, while non-qualified options could be issued to non-employee
directors, consultants and others, as well as to employees.

The Plan is administered by our board of directors, which determines those
individuals who are to receive options, the time period during which the options
may be partially or fully exercised, the number of shares of common stock that
may be purchased under each option, and the option price.

The per share exercise price of the common stock subject to an incentive stock
option or non-qualified option may not be less than the fair market value of the
common stock on the date the option is granted. The per share exercise price of
the common stock subject to a non-qualified option will be established by the
board of directors. The aggregate fair market value, determined as of the date
the option is granted, of the common stock that any employee may purchase in any
calendar year pursuant to the exercise of incentive stock options may not exceed
$1,000,000. No person who owns, directly or indirectly, at the time of the
granting of an incentive stock option to him, more than 10% of the total
combined voting power of all classes of our stock is eligible to receive any
incentive stock options under the Plan unless the option price is at least 110%
of the fair market value of the common stock subject to the option, determined
on the date of grant. Non-qualified options are not subject to this limitation.

Incentive stock options may not be transferred by an optionee other than by will
or the laws of descent and distribution, and during the lifetime of an optionee,
the option will be exercisable only by him or her. In the event of termination
of employment other than by death or disability, the optionee has three months
after such termination during which he or she can exercise the option. Upon
termination of employment of an optionee by reason of death or permanent total
disability, his or her option remains exercisable for one year thereafter to the
extent it was exercisable on the date of such termination. No similar
limitations apply to non-qualified options.





                                       23




Options under the Plan must be granted within ten years from the effective date
as amended of the Plan. The incentive stock options granted under the Plan
cannot be exercised more than ten years from the date of grant, and incentive
stock options issued to 10% or greater stockholders are limited to five-year
terms. Options granted under the Plan may provide for the payment of the
exercise price in cash or by delivery to us of shares of common stock already
owned by the optionee having a fair market value equal to the exercise price of
the options being exercised, or by a combination of such methods of payment.
Therefore, an optionee may be able to tender shares of common stock to purchase
additional shares of common stock and may possibly exercise all of his stock
options with no additional investment other than his original shares.

A summary of the Company's stock option activity and related information for the
years ended December 31, are as follows:

                                                 2003                    2002
                                                       Weighted               Weighted
                                                       Average                 Average
                                                       Exercise               Exercise
                                           Options      Price      Options     Price

Outstanding, beginning of year            1,324,350    $ 0.09             -   $    -

Canceled                                    469,350      0.13       795,000     0.09

Granted                                      55,000      0.10     2,119,350     0.09

Exercised                                         -         -             -        -

Outstanding, end of year                    910,000    $ 0.07     1,324,350   $ 0.09
                                          =========    ======    ==========   ======

Exercisable at the end of the  year         303,333    $ 0.07             -   $ 0.09
                                          =========    ======    ==========   ======

Weighted-average fair value of options
granted during the year                      55,000    $ 0.10     2,119,350   $ 0.09
                                          =========    ======    ==========   ======


The following table summarizes information about the options outstanding at
December 31, 2003:

                                  Weighted
                                   Average         Weighted
                                  Remaining         Average
    Exercise        Number       Contractual       Exercise
      Price       Outstanding       Life            Price

      $ .05         500,000           2            $ 0.05
      $ .05         225,000           2              0.05
      $ .15         175,000           2              0.15
      $ .10          10,000           3              0.10

                    910,000                        $ 0.07
                    =======                        ======

The options expire on the earlier of the date specified in the option agreement,
or the tenth anniversary of the date of grant. Incentive options not subject to
this provision are designated as being non-statutory options. Whenever an
outstanding option is terminated (other than by exercise), the shares of common
stock relating to such option are to be restored to the Plan and be available
for the grant of other options under the Plan.




                                       24




Effective June 30, 2003, we discontinued our Stock Option Plan.

ITEM 11 - SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

The following table sets forth information with respect to the beneficial
ownership of our common stock before and after giving effect to the sale of the
maximum number of shares of common stock offered. All shareholders have sole
voting and investment power over the shares beneficially owned. Included within
this table is information concerning each stockholder who owns more than 5% of
any class of our securities, including those shares subject to outstanding
options. Although our officer may purchase shares in this offering, the
following amounts assume that our officer does not purchase any additional
shares.



Beneficial ownership                      shares owned        Percentage of shares
class of common stock

Joel Arberman                              31,000,000          77.87
7740 Roswell Road, Suite 400
Atlanta, Georgia 30350

ITEM 12 - CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

Our president and majority stockholder periodically advances funds to us. These
advances totaled $15,449, which were unpaid as of December 31, 2003, are
unsecured, non-interest bearing and due on demand.

All future transactions between us and our officers, directors or 5%
shareholders, and their respective affiliates, will be on terms no less
favorable than could be obtained from unaffiliated third parties and will be
approved by a majority of any independent, disinterested directors.


ITEM 13-EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORMS 8-K

Exhibits - None.

Financial Statement Schedules - None.

Reports on Form 8-K - On May 16, 2003, we filed an 8-K to disclose the following
item:

"On April 30, 2003 Maxim Mortgage Corporation signed an agreement with NovaStar
Home Mortgage, Inc. to open and operate a NovaStar Home Mortgage, Inc. branch
office.

NovaStar's parent was founded in 1996 as a nationwide wholesale organization of
non-conforming mortgage loans. In 1999, NovaStar founded a retail branch
organization which currently consists of more than two hundred and sixty
branches nationwide.

Pursuant to the Agreement, Maxim Mortgage has agreed to open and operate a
NovaStar Home Mortgage, Inc. branch if and when certain regulatory approvals can
be obtained. Under the terms of the Agreement, Maxim Mortgage Corporation may be
required to pay up to 0.40% on all loan volume it generates upon opening of the
NovaStar branch.

In evaluating the formation of a NovaStar Home Mortgage, Inc. branch, Maxim
Mortgage Corporation considered criteria such as regulatory factors, revenue
opportunities, state and federal licensing and the cost of the business




                                       25



relationship and determined to enter into the Agreement.

There is no relationship between Maxim Mortgage Corporation and NovaStar
Mortgage, Inc. or any of its affiliates, officers, directors or shareholders."

ITEM 14 - Principal Accountant Fees and Services

(1) Audit Fees


The aggregate fees billed for each of the last two fiscal years for professional
services rendered by the principal accountant for our audit of annual financial
statements and review of financial statements included in our Form 10-KSBs or
services that are normally provided by the accountant in connection with
statutory and regulatory filings or engagements for those fiscal years was:


2003     $18,258   Kingery Crouse
2002     $15,806   Kingery Crouse


(2) Audit-Related Fees


The aggregate fees billed in each of the last two fiscal years for assurance and
related services by the principal accountants that are reasonably related to the
performance of the audit or review of our financial statements and are not
reported in the preceding paragraph:


2003     $0       Kingery Crouse
2002     $0       Kingery Crouse


(3) Tax Fees


The aggregate fees billed in each of the last two fiscal years for professional
services rendered by the principal accountant for tax compliance, tax advice,
and tax planning was:


2003     $0       Kingery Crouse
2002     $709     Kingery Crouse


(4) All Other Fees


The aggregate fees billed in each of the last two fiscal years for the products
and services provided by the principal accountant, other than the services
reported in paragraphs (1), (2), and (3) was:


2003     $0       Kingery Crouse
2002     $0       Kingery Crouse


(5) Our audit committee's pre-approval policies and procedures described in
paragraph (c)(7)(i) of Rule 2-01 of Regulation S-X were that the audit committee
pre-approve all accounting related activities prior to the performance of any
services by any accountant or auditor.


(6) The percentage of hours expended on the principal accountant's engagement to
audit our financial statements for the most recent fiscal year that were
attributed to work performed by persons other than the principal accountant's
full time, permanent employees was 0%.





                                       26




SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


MAXIM MORTGAGE CORPORATION

By: /s/ Joel Arberman

Chief Executive Officer

Dated: April 14, 2003

In accordance with Exchange Act, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dated indicated.


SIGNATURE                   TITLE                                   DATE

/s/ Joel Arberman           Director, Chief Accounting Officer      April 14, 2004`