UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB
       QUARTERLY REPORT FOR SMALL BUSINESS ISSUERS SUBJECT TO THE 1934 ACT
                             REPORTING REQUIREMENTS

[X]      QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
         ACT OF 1934 for the quarterly period ended  September 30, 2006

                           Commission File No. 0-50621


                              Maximum Awards, Inc.
                              --------------------
             (Exact name of registrant as specified in its charter)



        Nevada                                             86-0787790
-----------------------                     ------------------------------------
(State of organization)                     (I.R.S. Employer Identification No.)


          326 Old Cleveland Road, Coorparoo Queensland 4151, Australia
          ------------------------------------------------------------
                    (Address of principal executive offices)

                                  61 738 312316

               Registrant's telephone number, including area code



Check whether the issuer (1) filed all reports required to be file by Section 13
or 15(d) of the Exchange Act during the past 12 months and (2) has been subject
to such filing requirements for the past 90 days. Yes [X]

There are 32,451,900 shares of common stock and 1,000,000 series "A" preferred
stock outstanding, as of November 14, 2006.


<PAGE>

PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS


                      MAXIMUM AWARDS, INC. AND SUBSIDIARIES

                    CONSOLIDATED INTERIM FINANCIAL STATEMENTS

                      NINE MONTHS ENDED SEPTEMBER 30, 2006
                                    AND 2005

                                   (UNAUDITED)








                                    CONTENTS

Report of Independent Registered Public Accountant                            1

Consolidated Interim Balance Sheets                                           2

Consolidated Interim Statements of Operations and Comprehensive Loss          3

Consolidated Interim Statements of Cash Flows                                 4

Notes to Consolidated Interim Financial Statements                       5 - 20




<PAGE>


             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of
Maximum Awards, Inc. and Subsidiaries

         We have reviewed the accompanying consolidated interim balance sheets
of Maximum Awards, Inc. (a Nevada corporation) and subsidiaries, as of September
30, 2006 and the consolidated interim statements of operations and comprehensive
loss for the three-month and nine-month periods ended September 30, 2006 and
2005, and the consolidated interim statements of cash flows for the nine-month
periods ended September 30, 2006 and 2005. These consolidated interim financial
statements are the responsibility of the Company's management.

         We conducted our reviews in accordance with the standards of the Public
Company Accounting Oversight Board (United States). A review of consolidated
financial information consists principally of applying analytical procedures and
making inquiries of persons responsible for financial and accounting matters. It
is substantially less in scope than an audit conducted in accordance with the
standards of the Public Company Accounting Oversight Board, the objective of
which is the expression of an opinion regarding the financial statements taken
as a whole. Accordingly, we do not express such an opinion.

         Based on our review, we are not aware of any material modifications
that should be made to the consolidated interim financial statements referred to
above for them to be in conformity with accounting principles generally accepted
in the United States.

         We have previously audited, in accordance with the standards of the
Public Company Accounting Oversight Board (United States), the consolidated
interim balance sheet of Maximum Awards, Inc. and Subsidiaries as of December
31, 2005 and 2004, and the consolidated interim statements of operations and
comprehensive loss, stockholders' deficit, and cash flows for each of the two
years in the year ended December 31, 2005 [not presented herein], and in our
report dated March 31, 2006 we expressed an unqualified opinion on those
consolidated financial statements. In our opinion, the information set forth in
the accompanying consolidated balance sheet as of December 31, 2005, is fairly
stated, in all material respects, in relation to the consolidated balance sheet
from which it has been derived.

         The accompanying consolidated interim financial statements have been
prepared assuming that the Company will continue as a going concern. As
discussed in Note 2 to the financial statements, the Company has experienced
operating losses since inception, has raised minimal capital and has no
long-term contracts related to its business plan. These factors raise
substantial doubt about the Company's ability to continue as a going concern.
Management's plans regarding these matters are also described in Note 2. The
consolidated interim financial statements do not include any adjustments that
might result from the outcome of this uncertainty.




Toronto, Canada                          CHARTERED ACCOUNTANTS
November 20, 2006


                                       1
<PAGE>
<TABLE>
<CAPTION>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Consolidated Interim Balance Sheets
September 30, 2006 and December 31, 2005
                                                                                       Sept 30,           Dec 31,
                                                                                          2006              2005
                                                                                    (Unaudited)         (Audited)
<S>                                                                               <C>              <C>

                                     ASSETS

Current Assets
    Cash                                                                          $      38,973    $      42,206
    Accounts receivable, (less allowance for doubtful accounts of
     $2,101 Dec 31, 2005 - $2,090)                                                       80,873           43,766
    Inventory                                                                            12,954           10,662
    Prepaid expenses                                                                     18,443            9,509
                                                                                  -------------    -------------

Total Current Assets                                                                    151,243          106,143

Equipment, net (note 5)                                                                  22,418           21,285
                                                                                  -------------    -------------

Total Assets                                                                      $     173,661    $     127,428
                                                                                  =============    =============

                                   LIABILITIES

Current Liabilities
    Accounts payable and accrued liabilities                                      $     430,228    $     190,557
    Notes payable (note 6)                                                              395,811             --
    Liability for unredeemed points                                                      21,381           15,744
    Due to related party (note 7)                                                        55,400           39,000
    Advances from directors (note 8)                                                     78,490           82,362
                                                                                  -------------    -------------

Total Current Liabilities                                                               981,310          327,663
                                                                                  -------------    -------------

Total Liabilities                                                                       981,310          327,663
                                                                                  -------------    -------------

Commitments and Contingencies (note 12)

                             STOCKHOLDERS' (DEFICIT)

Capital Stock (note 9)
           10,000,000    preferred shares authorized, Series "A", par value of
                         $0.001 per share, non- participating, voting rights of
                         50 votes per share; issued and outstanding 1,000,000
                         (2005 - 1,000,000)
          100,000,000    common shares authorizd, par value of $0.001 per share;
                         issued and outstanding 32,451,900 (2005 - 32,051,900)
                                                                                         33,452           33,052

Additional Paid-in Capital                                                            1,186,451        1,106,850

Accumulated Other Comprehensive (Loss)                                                  (28,256)         (27,030)

Accumulated (Deficit)                                                                (1,999,296)      (1,313,107)
                                                                                  -------------    -------------

Total Stockholders' (Deficit)                                                          (807,649)        (200,235)
                                                                                  -------------    -------------

Total Liabilities and Stockholders' (Deficit)                                     $     173,661    $     127,428
                                                                                  =============    =============
</TABLE>

              (The accompanying notes are an integral part of these
                  consolidated interim financial statements.)

                                       2
<PAGE>
<TABLE>
<CAPTION>


MAXIMUM AWARDS, INC. AND SUBSIDIRIES
Consolidated Interim Statements of Operations and Comprehensive (Loss)
Three-Month and Nine-Month Periods Ended September 30, 2006,
 and September 30, 2005


                                                   Three           Three          Nine             Nine
                                                  Months          Months         Months           Months
                                                 Sept 30,        Sept 30,       Sept 30,         Sept 30,
                                              ------------    ------------    ------------    ------------
                                                  2006            2005           2006             2005
                                              ------------    ------------    ------------    ------------
                                               (Unaudited)     (Unaudited)    (Unaudited)      (Unaudited)
<S>                                           <C>             <C>             <C>             <C>

Revenues                                      $     75,816    $     57,973    $    360,108    $    197,752

Cost of Sales                                       15,643          30,811         121,022          86,583
                                              ------------    ------------    ------------    ------------

Gross Profit                                        60,173          27,162         239,086         111,169
                                              ------------    ------------    ------------    ------------

Expenditures
    General and administrative                     337,505         189,215         874,481         508,665
    Legal and professional fees                     (2,233)         52,509          22,607          72,509
    Depreciation                                     1,512             604           4,408           2,563
                                              ------------    ------------    ------------    ------------

Total Expense                                      336,784         242,328         901,496         583,737
                                              ------------    ------------    ------------    ------------

Loss from Operations                              (276,611)       (215,166)       (662,410)       (472,568)
                                              ------------    ------------    ------------    ------------

Other (Expense)
    Interest                                       (11,896)           (637)        (17,742)         (1,777)
    Provision for income tax                        (6,037)           --            (6,037)           --
                                              ------------    ------------    ------------    ------------

Total Other Expense                                (17,933)           (637)        (23,779)         (1,777)
                                              ------------    ------------    ------------    ------------

Net (Loss)                                        (294,544)       (215,803)       (686,189)       (474,345)
    Foreign currency translation adjustment
                                                   (13,494)         24,437         (16,195)         25,894
                                              ------------    ------------    ------------    ------------

Comprehensive (Loss)                          $   (308,038)   $   (191,366)   $   (702,384)   $   (448,451)
                                              ============    ============    ============    ============

Basic and Diluted
    (Loss) per share                          $      (0.01)   $      (0.01)   $      (0.02)   $      (0.02)
                                              ------------    ------------    ------------    ------------

Basic and Diluted Weighted Average
    Number of shares outstanding during the
       period                                   32,451,900      26,311,000      32,402,000      25,717,000
                                              ------------    ------------    ------------    ------------
</TABLE>


              (The accompanying notes are an integral part of these
                  consolidated interim financial statements.)

                                       3
<PAGE>

MAXIMUM AWARDS, INC. AND SUBSIDIRIES
Consolidated Interim Statements of Cash Flows
Nine-Month Periods Ended September 30, 2006, and September 30, 2005



                                                           2006          2005
                                                    (Unaudited)     (Audited)

Cash Flows from Operating Activities
    Net loss                                        $ (686,189)   $ (474,345)
    Adjustments to reconcile net loss to net cash
     used in operating activities:
       Depreciation                                      4,408         2,563
                                                    ----------    ----------
                                                      (681,781)     (471,782)
    Changes in non-cash working capital
       Accounts receivable                             (37,107)        5,357
       Inventory                                        (2,292)       (6,916)
       Prepaid expenses                                 (8,934)       12,051
       Liability for unredeemed points                   5,637        (1,497)
       Accounts payable and accrued  liabilities       239,671        79,283
                                                    ----------    ----------
    Net cash used in operating activities             (484,806)     (383,486)
                                                    ----------    ----------
Cash Flows from Investing Activities
       Purchases of equipment                           (5,541)       (8,221)
                                                    ----------    ----------
    Net cash used in investing activities               (5,541)       (8,221)
                                                    ----------    ----------

Cash Flows from Financing Activities
       Proceeds from (payments of) notes payable       395,812        (2,369)
       Advances from (payment to) directors             (3,872)      136,064
       Advances from related party                      16,400          --
       Proceeds from issuance of capital stock          80,000       352,499
                                                    ----------    ----------
    Net cash provided by financing activities          488,340       486,194
                                                    ----------    ----------

Net (Decrease) Increase in Cash                         (2,007)       94,487

Foreign Exchange on Cash Balances                       (1,226)       25,894

Cash - Beginning of period                              42,206        15,889
                                                    ----------    ----------

Cash - End of period                                $   38,973    $  136,270
                                                    ==========    ==========

Cash                                                $   38,973    $  136,020

Cash Held in Escrow (note 4)                              --             250
                                                    ----------    ----------

Total Cash                                          $   38,973    $  136,270
                                                    ----------    ----------

              (The accompanying notes are an integral part of these
                  consolidated interim financial statements.)

                                       4
<PAGE>


MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


1.    Operations and Business

      Maximum Awards, Inc., formerly known as Rising Fortune Incorporated (the
      "Company"), was incorporated in the State of Nevada on March 7, 1995. The
      Company was inactive between 1996 and 2000. In 2000, the Company entered
      into an agreement to distribute product, however, the agreement never
      materialized, and the Company continued to remain inactive until November
      18, 2003. On November 19, 2003, the Company amended its Articles of
      Incorporation to change its name to Maximum Awards, Inc.

      On December 9, 2003, the Company entered into a Share Exchange Agreement
      (the "Agreement") with Maximum Awards (Pty) Ltd., ("Subsidiary") an
      Australian corporation operating a consumer rewards program, whereby the
      Company acquired all of the issued and outstanding shares of the
      Subsidiary in exchange for 22,000,000 common shares and 1,000,000 Series
      "A" preferred shares of the Company in a reverse merger transaction. The
      Series "A" preferred shares are non-participating, but each share is
      entitled to 50 votes in a general meeting. In addition, the Company issued
      2,200,000 common shares as a finder's fee for assistance in the
      acquisition of the Subsidiary. As a result of the Agreement, the principal
      shareholder of the Subsidiary controls 96% of the Company. While the
      Company is the legal parent, as a result of the reverse takeover, the
      Subsidiary became the parent company for accounting purposes.

      On June 1, 2004, the Company acquired 100% of the issued and outstanding
      share capital of both Global Business Group Australia (Pty) Ltd. ("Global
      Business") and Travel Easy Holidays (Pty) Ltd. ("Travel Easy") from the
      directors of the respective companies for $1.00. Global Business and
      Travel Easy are controlled by the same shareholder who controls the
      Company and the Subsidiary. This transfer of equity interests between
      common controlled entities is accounted for as a recapitalization of the
      Company with the net assets of the Subsidiary and the Company brought
      forward at their historical basis.

      The Company operates a consumer rewards points program known as Maximum
      Awards ("Maximum Awards"). Under this program, consumers earn points by
      purchasing products and services from a range of products and services
      offered by the Company's subsidiaries, Global Business and Travel Easy, or
      program partners. Accumulated points then can be redeemed to acquire
      additional desired products or services from the same list of such items
      offered by the Company's subsidiaries.

      Global Business, maintains a catalogue of available goods and services
      which a member can purchase or acquire through the redemption of points.
      Travel Easy is a licensed travel agency which services the public and also
      allows members to purchase travel services or redeem points for airline
      tickets or travel packages.



                                       5
<PAGE>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


2.    Going Concern

      The accompanying consolidated interim financial statements have been
      prepared in accordance with accounting principles generally accepted in
      the United States of America with the assumption that the Company will be
      able to realize its assets and discharge its liabilities in the normal
      course of business.

      The Company has sustained operating losses since inception, has raised
      minimal capital and has no long-term contracts related to its business
      plan. The Company's continuation as a going concern is uncertain and
      dependant on successfully bringing its services to market, achieving
      future profitable operations and obtaining additional sources of financing
      to sustain its operations. Although the Company plans to pursue additional
      financing there can be no assurance that the Company will be able to
      secure financing when needed or obtain such on terms satisfactory to the
      Company, if at all. In the event the Company cannot obtain the necessary
      funds, it will be necessary to delay, curtail or cancel the further
      development of its products and services. Though the business plan
      indicates profitable operation in the coming year, these profits are
      contingent upon the completing and fulfillment of contracts with various
      providers of goods and services throughout the world to provide the
      Company with a cashflow to sustain operations.

      The consolidated interim financial statements do not include any
      adjustments to reflect the possible future effects on the recoverability
      and classification of assets or the amounts and classification of
      liabilities that may result from the possible inability of the Company to
      continue as a going concern.



3.    Summary of Significant Accounting Policies

      a)    Basis of Financial Statement Presentation

            These consolidated interim financial statements have been prepared
            in conformity with accounting principles generally accepted in the
            United States of America, under the accrual method of accounting,
            with the assumption that the Company will be able to realize its
            assets and discharge its liabilities in the normal course of
            business.

      b)    Consolidated Interim Financial Statement

            The accompanying unaudited consolidated interim financial statements
            have been prepared in accordance with accounting principles
            generally accepted in the United States of America for interim
            financial information and with the instructions to Form 10-QSB.
            Accordingly, they do not include all of the information and
            footnotes required by accounting principles generally accepted in
            the United States of America for complete financial statements. In
            the opinion of management, all adjustments (consisting of normal
            recurring accruals) considered necessary for a fair presentation
            have been included. Interim results are not necessarily indicative
            of the results that may be expected for a full year. These
            consolidated financial statements should be read in conjunction with
            the audited consolidated financial statements and notes thereto
            included in the Company's Annual Report to Stockholders on Form
            10-KSB for the fiscal year ended December 31, 2005, as filed with
            the Securities and Exchange Commission.


                                       6
<PAGE>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


3.    Summary of Significant Accounting Policies (cont'd)

      c)    Basis of Consolidation

            The reverse merger of the Company and its Subsidiary has been
            recorded as the recapitalization of the Company, with the net assets
            of the Subsidiary and the Company brought forward at their
            historical basis. The intention of the management of the Subsidiary
            was to acquire the Company as a shell company to be listed on the
            Over the Counter Bulletin Board. Management did not intend to pursue
            the business of the Company, as such, accounting for the merger as
            the recapitalization of the Company was deemed appropriate.

            As mentioned in Note 1, these consolidated interim financial
            statements include the financial position and results of operations
            of Global Business and Travel Easy.

            The weighted average and total number of shares outstanding have
            been retroactively restated for each period to reflect the number of
            shares issued to shareholders of the Subsidiary at acquisition.

      d)    Unit of Measurement

            The United States dollar is being used as the unit of measurement in
            the accompanying financial statements.

      e)    Use of Estimates

            In preparing the Company's consolidated interim financial
            statements, management is required to make estimates and assumptions
            that affect the reported amounts of assets and liabilities and the
            disclosures of contingent assets and liabilities at the dates of the
            consolidated interim financial statements and the reported amounts
            of revenues and expenses during the reporting periods. Actual
            results could differ from those estimates.

      f)    Inventory

            Inventory consists of goods purchased for resale. Inventory is
            stated at the lower of cost (first-in, first-out method) or market.



                                       7
<PAGE>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


3.    Summary of Significant Accounting Policies (cont'd)

      g)    Revenue Recognition

            Consumer Reward Points Program

            The Company recognizes commission income from a participating vendor
            when the participating vendor commits to purchasing points from the
            Company and collectibility is reasonably assured.

            Travel Agency

            The Company earns commission revenues from ticket sales and reports
            this revenue in accordance with Emerging Issues Task Force ("EITF")
            Issue No. 99-19, "Reporting Revenue Gross as a Principal versus Net
            as an Agent". The Company is an agent and not the primary obligor,
            and accordingly the amounts earned are determined using a fixed
            percentage, a fixed-payment schedule, or a combination of the two.

            Online Shopping

            The Company recognizes revenue from product sales or services
            rendered when the following four revenue recognition criteria are
            met: persuasive evidence of an arrangement exists, delivery has
            occurred or services have been rendered, the selling price is fixed
            or determinable, and collectibility is reasonably assured.
            Additionally, revenue arrangements with multiple deliverables are
            divided into separate units of accounting if the deliverables in the
            arrangement meets the following criteria:

            (1) the delivered item has value to the customer on a standalone
            basis; (2) there is objective and reliable evidence of the fair
            value of undelivered items; and (3) delivery of any undelivered item
            is probable.

            Product sales, net of promotional discounts, rebates, and return
            allowances, are recorded when the products are shipped and title
            passes to customers. Retail items sold to customers are made
            pursuant to a sales contract that provides for transfer of both
            title and risk of loss upon the Company's delivery to the carrier.
            The return policy allows customers to exchange product within 7
            days.



                                       8
<PAGE>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


3.    Summary of Significant Accounting Policies (cont'd)

      g)    Revenue Recognition (cont'd)

            Online Shopping (cont'd)

            The Company periodically provides incentive offers to its customers
            to encourage purchases. Such offers include current discount offers
            (such as percentage discounts off current purchases), inducement
            offers (such as offers for future discounts subject to a minimum
            current purchase) and other similar offers. Current discount offers,
            when accepted by the customers, are treated as a reduction to the
            purchase price of the related transaction, while inducement offers,
            when accepted by the customers, are treated as a reduction to
            purchase price based on estimated future redemption rates.
            Redemption rates are estimated using the Company's historical
            experience for similar inducement offers. Current discount offers
            and inducement offers are presented as a net amount in revenues.

            Outbound shipping charges to customers are included in revenues.

      h)    Foreign Currency Translation

            The Company accounts for foreign currency translation pursuant to
            Statement of Financial Accounting Standards ("SFAS") No. 52,
            "Foreign Currency Translation". The Company's functional currency is
            the Australian dollar. All assets and liabilities are translated
            into U.S. dollars using the current exchange rate at the end of the
            period. Revenues and expenses are translated using the average
            exchange rates prevailing throughout the periods. Translation
            adjustments are included in other comprehensive income (loss) for
            the periods.

      i)    Fair Value of Financial Instruments

            The estimated fair value of financial instruments has been
            determined by the Company using available market information and
            valuation methodologies. Considerable judgment is required in
            estimating fair value. Accordingly, the estimates may not be
            indicative of the amounts the Company could realize in a current
            market exchange. As of September 30, 2006, the carrying amounts of
            cash, accounts receivable, accounts payable and accrued liabilities,
            notes payable and advances from directors approximate their fair
            values due to the short-term maturities of these instruments.

      j)    Equipment, net

            Equipment is stated at cost. Depreciation, based on the estimated
            useful lives of the assets, is provided using the undernoted annual
            rates and methods:

                 Furniture and equipment         20%        Declining balance
                 Computer software               20%        Declining balance



                                       9
<PAGE>


MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


3.    Summary of Significant Accounting Policies (cont'd)

      k)    Impairment of Long-Lived Assets

            In accordance with SFAS No. 144, "Accounting for the Impairment or
            Disposal of Long-Lived Assets", long-lived assets to be held and
            used are analyzed for impairment whenever events or changes in
            circumstances indicate that the related carrying amounts may not be
            recoverable. If there are indications of impairment, the Company
            uses future undiscounted cash flows of the related asset or asset
            grouping over the remaining life in measuring whether the assets are
            recoverable. In the event such cash flows are not expected to be
            sufficient to recover the recorded asset values, the assets are
            written down to their estimated fair value. Long-lived assets to be
            disposed of are reported at the lower of carrying amount or fair
            value of asset less cost to sell. As described in Note 2 the
            long-lived assets have been valued on a going concern basis,
            however, substantial doubt exists as to the ability of the Company
            to continue as a going concern. If the Company ceases operations,
            the asset values may be materially impaired.

      l)    Income Taxes

            The Company accounts for income taxes pursuant to SFAS No. 109,
            "Accounting for Income Taxes". Deferred tax assets and liabilities
            are recorded for differences between the financial statement and tax
            basis of the assets and liabilities that will result in taxable or
            deductible amounts in the future based on enacted tax laws and rates
            applicable to the periods in which the differences are expected to
            affect taxable income. Valuation allowances are established when
            necessary to reduce deferred tax assets to the amount expected to be
            realized. Income tax expense is recorded for the amount of income
            tax payable or refundable for the period increased or decreased by
            the change in deferred tax assets and liabilities during the period.

      m)    Share-Based Payments

            In accordance with SFAS No. 123R "Share-Based Payment" ("SFAS No.
            123R"), the Company enters into transactions in which goods or
            services are the consideration received for the issuance of equity
            instruments. The value of these transactions are measured and
            accounted for, based on the fair value of the equity instrument
            issued or the value of the services, whichever is more reliably
            measurable. The services are expensed in the periods during which
            the services are rendered.


                                       10
<PAGE>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


3.    Summary of Significant Accounting Policies (cont'd)

      n)    Earnings (Loss) per Common Share

            The Company calculates net earnings (loss) per share based on SFAS
            No. 128, "Earnings Per Share". Basic earnings (loss) per share is
            computed by dividing the net earnings (loss) attributable to the
            common stockholders by the weighted average number of common shares
            outstanding. Diluted earnings (loss) per share is computed similar
            to basic earnings (loss) per share except that the denominator is
            increased to include the number of additional common shares that
            would have been outstanding if the potential common shares had been
            issued and if the additional common shares were dilutive.

      o)    Comprehensive Income (Loss)

            The Company adopted SFAS No. 130, "Reporting Comprehensive Income"
            ("SFAS No. 130"). SFAS No. 130 establishes standards for reporting
            and presentation of comprehensive income (loss) and its components
            in a full set of financial statements. Comprehensive income (loss)
            is presented in the consolidated interim statements of operations
            and comprehensive income (loss) and stockholders' deficit, and
            consists of net earnings (loss) and unrealized gains (losses) on
            available for sale marketable securities; foreign currency
            translation adjustments and changes in market value of future
            contracts that qualify as a hedge; and negative equity adjustments
            recognized in accordance with SFAS 87, "Employers' Accounting for
            Pensions". SFAS No. 130 requires only additional disclosures in the
            financial statements and does not affect the Company's financial
            position or results of operations.

      p)    Concentration of Credit Risk

            SFAS No. 105, "Disclosure of Information about Financial Instruments
            with Off-Balance-Sheet Risk and Concentration of Credit Risk,"
            requires disclosure of any significant off-balance-sheet risk and
            credit risk concentration. The Company does not have significant
            off-balance-sheet risk or credit concentration. The Company
            maintains cash with major Australian financial institutions.

            The Company provides credit to its clients in the normal course of
            its operations. It carries out, on a continuing basis, credit checks
            on its clients and maintains provisions for contingent credit losses
            which, once they materialize, are consistent with management's
            forecasts.

            For other debts, the Company determines, on a continuing basis, the
            probable losses and sets up a provision for losses based on the
            estimated realizable value.

            Concentration of credit risk arises when a group of clients having a
            similar characteristic such that their ability to meet their
            obligations is expected to be affected similarly by changes in
            economic conditions. The Company does not have any significant risk
            with respect to a single client.

      q)    Segment Reporting

            SFAS No. 131 "Disclosures about Segments of an Enterprise and
            Related Information" establishes standards for the manner in which
            public enterprises report segment information about operating
            segments.


                                       11
<PAGE>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


3.    Summary of Significant Accounting Policies (cont'd)

      q)     Segment Reporting (cont'd)

             The Company has determined that its operations primarily involve
             three reportable segments based on the companies being
             consolidated: Maximum Awards - a consumer rewards program; Travel
             Easy - a travel agency; and Global Business - an online shopping
             business.

      r)     Recent Accounting Pronouncements

             In February 2006, the Financial Accounting Standards Board ("FASB")
             issued SFAS No. 155, "Accounting for Certain Hybrid Financial
             Instruments--an amendment of FASB Statements No. 133 and 140"
             ("SFAS No. 155"). This Statement permits fair value of
             remeasurement for any hybrid financial instrument that contains an
             embedded derivative that otherwise would require bifurcation;
             clarifies which interest-only strips and principal-only strips are
             not subject to the requirements of SFAS No. 133, "Accounting for
             Derivative Instruments and Hedging Activities"; establishes a
             requirement to evaluate interests in securitized financial assets
             to identify interests that are freestanding derivatives or that are
             hybrid financial instruments that contain an embedded derivative
             requiring bifurcation; clarifies that concentrations of credit risk
             in the form of subordination are not embedded derivatives; and
             amended SFAS No. 140, "Accounting for Transfers and Servicing of
             Financial Assets and Extinguishments of Liabilities," to eliminate
             the prohibition on a qualifying special-purpose entity from holding
             a derivative financial instrument that pertains to a beneficial
             interest other than another derivative financial instrument. SFAS
             No. 155 is effective for all financial instruments acquired,
             issued, or subject to a remeasurement (new basis) event occurring
             after the beginning of an entity's first fiscal year that begins
             after September 15, 2006. The Company is currently reviewing the
             effect, if any, the proposed guidance will have on its consolidated
             financial statements.

             In March 2006, FASB issued Statement 156, "Accounting for Servicing
             of Financial Assets, which amends FAS 140, Accounting for Transfers
             and Servicing of Financial Assets and Extinguishments of
             Liabilities" ("SFAS No. 156"). In a significant change to current
             guidance, the SFAS No. 156 permits an entity to choose either of
             the following subsequent measurement methods for each class of
             separately recognized servicing assets and servicing liabilities:
             (1) Amortization Method or (2) Fair Value Measurement Method. SFAS
             No. 156 is effective as of the beginning of an entity's first
             fiscal year that begins after September 15, 2006. The Company is
             currently reviewing the effect, if any, the proposed guidance will
             have on its consolidated financial statements.

             In June 2006 FASB issued Financial Accounting Standards
             Interpretation No. 48 ("FIN 48"), "Accounting for Uncertainty in
             Income Taxes." FIN 48 clarifies the accounting for uncertainty in
             income taxes recognized in an enterprises' financial statements in
             accordance with FASB Statement No. 109, "Accounting for Income
             Taxes." FIN 48 prescribes a recognition threshold and measurement
             attributable for the financial statement recognition and
             measurement of a tax position taken or expected to be taken in a
             tax return. FIN 48 also provides guidance on derecognition,
             classification, interest and penalties, accounting in interim
             periods, disclosures and transitions. FIN 48 is effective for
             fiscal years beginning after December 15, 2006. The Company is
             currently reviewing the effect, if any, the proposed guidance will
             have on its consolidated financial position.


                                       12
<PAGE>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


3.    Summary of Significant Accounting Policies (cont'd)

      r)    Recent Accounting Pronouncements (cont'd)

            In September 2006, the FASB issued FAS No. 157, "Fair Value
            Measurements". This statement defines fair value, establishes a
            framework for measuring fair value in generally accepted accounting
            principles, and expands disclosure about fair value measurements.
            This statement applies under other accounting pronouncements that
            require or permit fair value measurement, FASB having previously
            concluded in those accounting pronouncements that fair value is the
            relevant measurement attribute. This statement does not require any
            new fair value measurements, however, for some entities, the
            application of the statement will change current practice. This
            statement is effective for financial statements issued for fiscal
            years beginning after November, 15 2007, and interim periods within
            those fiscal years. The Company is currently reviewing the effect,
            if any, the proposed guidance will have on its financial statements.

            In September 2006, the Securities and Exchange Commission ("SEC")
            issued Staff Accounting Bulletin No. 108 (Topic 1N), "Quantifying
            Misstatements in Current Year Financial Statements" ("SAB No. 108").
            SAB No. 108 addresses how the effect of prior year uncorrected
            misstatements should be considered when quantifying misstatements in
            current year financial statements. SAB No. 108 requires SEC
            registrants (i) to quantify misstatements using a combined approach
            which considers both the balance sheet and income statement
            approaches; (ii) to evaluate whether either approach results in
            quantifying an error that is material in light of relevant
            quantitative and qualitative factors; and (iii) to adjust their
            financial statements if the new combined approach results in a
            conclusion that an error is material. SAB No. 108 addresses the
            mechanics of correcting misstatements that include effects from
            prior years. It indicates that the current year correction of a
            material error that includes prior year effects may result in the
            need to correct prior year financial statements even if the
            misstatement in the prior year or years is considered immaterial.
            Any prior year financial statements found to be materially misstated
            in years subsequent to the issuance of SAB No. 108 would be restated
            in accordance with FAS No. 154, "Accounting Changes and Error
            Corrections." Because the combined approach represents a change in
            practice, the SEC staff will not require registrants that followed
            an acceptable approach in the past to restate prior years'
            historical financials statements. Rather, these registrants can
            report the cumulative effect of adopting the new approach as an
            adjustment to the current year's beginning balance of retained
            earnings. If the new approach is adopted in a quarter other than the
            first quarter, financial statements for prior interim periods within
            the year of adoption may need to be restated. SAB No. 108 is
            effective for fiscal years ending after November 15, 2006, which for
            the Company would be its fiscal year beginning January 1, 2007. The
            implementation of SAB No. 108 is not expected to have a material
            impact on the Company's results of operations and financial
            condition.


                                       13
<PAGE>
<TABLE>
<CAPTION>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


3.    Summary of Significant Accounting Policies (cont'd)

      r)    Recent Accounting Pronouncements (cont'd)

            In September 2006, the FASB issued FAS No. 158, "Employers'
            Accounting for Defined Benefit Pension and Other Postretirement
            Plans an amendment of FASB Statements No. 87, 88, 106 and 132(R)".
            This statement improves financial reporting by requiring an employer
            to recognize the overfunded or underfunded status of a defined
            benefit postretirement plan (other than a multi-employer plan) as an
            asset or liability in its statement of financial position and to
            recognize changes in that funded status in the year in which the
            changes occur through comprehensive income of a business entity or
            changes in unrestricted net assets for a not-for-profit
            organization. This statement also improves financial reporting by
            requiring an employer to measure the funded status of a plan as of
            the date of its year-end statement of financial position, with
            limited exceptions. The Company does not expect the adoption of this
            standard to have a material impact on the results of operations or
            financial position.

4.    Consumer Reward Points Program

      The Company operates a consumer rewards program, as described in Note 1,
      whereby, consumers earn points by purchasing goods and services with
      various vendors, whom are registered with the program. When a consumer
      purchases a good or service, the vendor remits a cash amount for the
      amount of points earned by the consumer to the Company. The Company no
      longer maintains an escrow account for funds collected.

5.    Equipment, net

                                            September 30,                 December 31,
                                                     2006                        2005
                                Unaudited     Accumulated                 Accumulated
                                     Cost    Depreciation        Cost    Depreciation
                                ---------   -------------   ---------   -------------
<S>                             <C>         <C>             <C>         <C>

      Furniture and equipment   $  29,270   $      10,675   $  23,147   $       6,521
      Computer software             4,595             772       5,177             518
                                ---------   -------------   ---------   -------------


                                $  33,865   $      11,447   $  28,324   $       7,039
                                ---------   -------------   ---------   -------------


      Net carrying amount                   $      22,418               $      21,285
                                            -------------               -------------
</TABLE>

                                       14
<PAGE>


MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


6.    Notes Payable

      A note payable, in the amount of $384,811 at the period end, is interest
      bearing at 10% per annum; is payable on demand after January, 31, 2007;
      can be converted at the note holders option into common shares at the
      lower of $0.10 or market price of the stock at the time of election and is
      secured over the Company's assets.

      The other note payable, in the amount of $11,000 at the period end, is
      non-interest bearing with no fixed terms of repayment.


7.    Related Party Balances and Transactions

      Due to related party is owed to a shareholder of the Company for
      accounting services provided. The amount is non-interest bearing and due
      on demand. The note holder has the option to convert the note to common
      stock at the market price less a discount of 50%.

      During the period, the Company accrued consulting fees to a consultant who
      is also the spouse of a shareholder of the company holding the convertible
      note payable referred to in note 6.

      Transactions were in the normal course of business and recorded at an
      exchange value established and agreed upon by the above mentioned parties.


8.    Advances from Directors

                                             September 30,    December 31,
                                                      2006            2005

         Maxwell Thomas                      $      67,660   $      42,336
         Michael Sullivan                           10,830          40,026
                                             -------------   -------------

                                             $      78,490   $      82,362
                                             -------------   -------------


      The advances are non-interest bearing, unsecured and have no specified
      terms of repayment.


                                       15
<PAGE>
<TABLE>
<CAPTION>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)



9.    Capital Stock

                                                                        September 30,    December 31,
                                                                                 2006            2005
<S>                                                                     <C>              <C>
        Issued
           1,000,000  preferred shares, Series "A"
                      (December 31, 2005 - 1,000,000)                   $       1,000   $       1,000
          32,451,900  common shares (December 31, 2005 - 32,051,900)           32,452          32,052
                                                                        -------------   -------------
                                                                        $      33,452   $      33,052
                                                                        =============   =============
</TABLE>

      The following transactions occurred during 2005 and the nine-month period
      end September 30, 2006:

      a) On June 21, 2005 the Company issued 5,000 common shares for a cash
         consideration of $2,500.

      b) On October 10, 2005 the Company issued 1,500,000 common shares for a
         cash consideration of $150,000.

      c) On November 1, 2005 the Company issued 3,000,000 common shares for a
         cash consideration of $300,000 and 500,000 common shares for services
         rendered, valued at $50,000.

      d) On November 21, 2005 the Company issued 575,000 common shares for a
         cash consideration of $57,500.

      e) On November 30, 2005 the Company issued 345,000 common shares for a
         cash consideration of $34,500.

      f) On December 12, 2005 the Company issued 550,000 common shares for a
         cash consideration of $55,000.

      g) On December 21, 2005 the Company issued 50,000 common shares for a cash
         consideration of $5,000.

      h) On January 19, 2006 the Company issued 300,000 common shares for a cash
         consideration of $30,000.

      i) On February 16, 2006 the Company issued 100,000 common shares for a
         cash consideration of $50,000.


                                       16
<PAGE>
<TABLE>
<CAPTION>

MAXIMUM AWARDS, INC. AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


10.   Segmented Information
                                              3 Months     3 Months     9 Months     9 Months
                                             Sept. 30,    Sept. 30,    Sept. 30,    Sept. 30,
                                                  2006         2005         2006         2005
                                             ---------    ---------    ---------    ---------
<S>                                          <C>          <C>          <C>          <C>
      Revenues by Segment

         Maximum Awards - rewards program    $   1,087    $   3,011    $   5,540    $  12,148
         Travel Easy - travel agency            40,695       24,815      214,550       93,422
         Global Business - online shopping      34,034       30,147      140,018       92,182
                                             ---------    ---------    ---------    ---------

         Consolidated revenues               $  75,816    $  57,973    $ 360,108    $ 197,752
                                             =========    =========    =========    =========


      Operating Earnings (Loss) by Segment

         Maximum Awards - rewards program    $(231,453)   $(165,968)   $(616,392)   $(387,363)
         Travel Easy - travel agency           (45,994)     (49,416)     (42,770)     (86,471)
         Global Business - online shopping     (17,097)        (419)     (27,027)        (511)
                                             ---------    ---------    ---------    ---------

         Consolidated operating loss         $(294,544)   $(215,803)   $(686,189)   $(474,345)
                                             =========    =========    =========    =========


            Total Assets by Segment          Sept. 30,     Dec. 31,
                                                2006           2005

         Maximum Awards - rewards program    $  23,291    $  27,674
         Travel Easy -travel agency            116,592       44,956
         Global Business - online shopping      33,778       54,798
                                             ---------    ---------

         Consolidated assets                 $ 173,661    $ 127,428
                                             =========    =========


      Total Liabilities by Segment

         Maximum Awards - rewards program    $ 699,148    $ 251,968
         Travel Easy -travel agency            224,725       41,800
         Global Business - online shopping      57,437       33,895
                                             ---------    ---------

         Consolidated liabilities            $ 981,310    $ 327,663
                                             =========    =========
</TABLE>


      Geographical information is not presented as the Company's consolidated
      operations are conducted in Australia.

      The Company does not earn any significant revenues from a single customer.


                                       17
<PAGE>
<TABLE>
<CAPTION>

MAXIMUM AWARDS, INC.AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)



11.      Income Taxes


      The Company accounts for income taxes pursuant to SFAS No. 109,
      "Accounting for Income Taxes" ("SFAS No. 109"). This standard prescribes
      the use of the liability method whereby deferred tax asset and liability
      account balances are determined based on differences between financial
      reporting and tax bases of assets and liabilities and are measured using
      the enacted tax rates.

      Under SFAS No. 109  income  taxes are  recognized  for the  following:  a)
      amount  of  tax  payable  for  the  current  year,  and  b)  deferred  tax
      liabilities  and assets for future tax  consequences  of events  that have
      been  recognized  differently  in the  financial  statements  than for tax
      purposes.

      The Company's current income taxes are as follows:

                                                                  Nine Months     Nine Months
                                                                        Ended           Ended
                                                                    Sept. 30,       Sept. 30,
                                                                         2006            2005
<S>                                                               <C>              <C>
      Current tax provision:
      Expected income tax recovery at statutory tax rate of 34%    $(232,000)      $(161,388)
      Australian income taxes                                          6,037            --
      Valuation allowance                                            232,000         161,388
                                                                   ---------       ---------




      Current income tax provision                                 $   6,037       $    --
                                                                   =========       =========


      Deferred tax provision:

      The Company has deferred income tax assets as follows:

                                                                   Sept. 30,        Dec. 31,
                                                                        2006            2005

      Deferred income tax assets                                   $ 601,000       $ 186,320
      Valuation allowance                                           (601,000)       (186,320)
                                                                   ---------       ---------

                                                                   $    --         $    --
                                                                   =========       =========
</TABLE>

                                       18
<PAGE>


MAXIMUM AWARDS, INC.AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)

11.   Income Taxes (cont'd)

      As of September 30, 2006, the Company had net operating loss carry
      forwards for income tax reporting purposes of approximately $1,875,000
      available to offset future taxable income indefinitely. Current tax laws
      limit the amount of loss available to be offset against future taxable
      income when a substantial change in ownership or a change in the nature of
      the business occurs, therefore, the amount available to offset future
      taxable income may be limited. No tax benefit has been reported in the
      financial statements, because the Company believes there is a 50% or
      greater chance the carry forwards will expire unused. Accordingly, the
      potential tax benefits of the loss carry forwards are offset by a
      valuation allowance of the same amount.


12.   Commitments and Contingencies

      The Company is committed to a premises lease obligation expiring in
      December 2006. Future minimum payments (exclusive of taxes, insurance and
      maintenance costs) under these leases are $7,251.

      The Company entered into a consulting agreement with a consultant, who is
      also the spouse of a shareholder of the company holding the convertible
      note payable referred to in note 6, for a period of six months starting
      from August 1, 2006. The Company will pay a monthly fee of $15,000. The
      consultant may opt, in lieu of cash, to receive payment of the fees into
      the company's common shares at a conversion price of $0.10 per share or
      market price which ever is lower.



13.   Supplemental Disclosure of Cash Flow Information

                                                 Nine Months     Nine months
                                                       Ended           Ended
                                                   Sept. 30,       Sept. 30,
                                                        2006            2005

       Cash paid during the period for:

       Interest paid                             $      --       $      --
                                                 ===========     ===========

       Income taxes paid                         $      --       $      --
                                                 ===========     ===========



                                       19
<PAGE>


MAXIMUM AWARDS, INC.AND SUBSIDIARIES
Notes to Consolidated Interim Financial Statements
September 30, 2006 and 2005
(Unaudited)


14.   Subsequent Events

      During October 2006, the Company reduced its number of authorized common
      shares from 500,000,000 shares to 33,333,333 shares in a 15:1 reverse
      stock split. The issued outstanding common shares were reduced from
      32,451,900 to 2,163,460, with an amended par value of $0.015 per common
      share.

      The conditions of the preferred shares, Series "A" were amended so that
      the special voting rights attached to each share was reduced by a ratio of
      15:1 so that the preferred shares, Series "A" were reduced from 50 to 3.33
      votes in a general meeting for each share held.

      On November 17, 2006, the Company entered into a consulting agreement with
      a shareholder of the Company. The terms of the agreement provide for an
      annual fee of $150,000 payable in advance to the consultant. As part of
      the consulting agreement, the consultant has the option to convert the
      fee, together with any current outstanding fees due and payable ($81,000
      as at November 17, 2006), into common stock at the prevailing market price
      at the time of the conversion, less a discount of 50%.



15.   Comparative Information

      Certain of the prior period balances have been reclassified to conform
      with the current period's consolidated financial statement presentation.






                                       20
<PAGE>

ITEM 2.  MANAGAMENT DISCUSSION AND ANALYSIS


         The company was incorporated on March 7, 1995 under the name Rising
Fortune Incorporated.

         On December 9, 2003, the company acquired 100% of the outstanding
shares of Maximum Awards Pty Ltd., an Australian company engaged in the business
of operating a consumer rewards program known as Maximum Awards. Under the
Maximum Awards program, consumers earn points by purchasing products and
services offered by the company and its program partners. Accumulated points
then can be redeemed in order to acquire additional desired products or services
from the same list of such items offered by the company. The company operates
its program in Australia and has done so since October 2002. In anticipation of
this transaction the company's articles of incorporation were amended on
November 19, 2003 to change the name of the company to Maximum Awards, Inc.

         The acquisition of Maximum Awards Pty Ltd resulted in a change of
control of the company and was accounted for as a recapitalization of Maximum
Awards Pty Limited. The business of Maximum Awards Pty Ltd is now the business
of the company.

On June 1, 2004, the company acquired 100% of the issued and outstanding shares
of Travel Easy Holidays Pty Ltd ("Travel Easy") and Global Business Group Pty
Ltd ("Global Business"). These corporations are involved in the travel industry
and mail order industries and were acquired to add to the company's rewards
program operations by providing an in-house travel agency and a consumer
products retailer.

         Travel Easy is an Australian proprietary limited corporation. Travel
Easy was organized under the law of the Province of Queensland, Australia on
July 19, 2002. Travel Easy is engaged in the business of providing travel agent
services and its operations are located in the company's offices in Brisbane,
Queensland, Australia. Prior June 1, 2004, Travel Easy was owned by Maxwell
Thomas, the company's chief executive officer, and Michael Sullivan, a director
of the company. Mr. Thomas owned 60% of Travel Easy and Mr. Sullivan owned 40%.
Under terms of the acquisition agreement between the company and Mr. Thomas, the
company acquired Travel Easy for $1.00 Australian. Travel Easy now is a
wholly-owned subsidiary of the company.

         Global Business also is an Australian proprietary limited corporation.
Global Business was organized under the law of the Province of Queensland,
Australia in June 2003. Global Business does business under the name Easy
Shopper Direct and is engaged in the business of selling consumer goods on-line
and through published catalogs and its operations are located in the company's
offices in Brisbane, Queensland, Australia. Prior to June 1, 2004, Global
Business was owned by Maxwell Thomas, the company's chief executive officer, and
Michael Sullivan, a director of the company. Mr. Thomas owned 60% of Global
Business and Mr. Sullivan owned 40%. Under terms of the acquisition agreement
between the company and Mr. Thomas, the company acquired Global Business for
$1.00 Australian. Global Business now is a wholly-owned subsidiary of the
company.

         Because both Travel Easy and Global Business were acquisitions under
common control, the financial statements have been prepared by including the
accounts of both Travel Easy and Global Business and have been accounted as a
business combination with the net assets of Maximum Awards (Pty) Ltd. and the
Company brought forward at their historical basis. . The financial statements,
including the comparatives, reflect the accounts of Maximum Awards, Travel Easy
and Global Business.


                                       21
<PAGE>


Results for the three months ended September 30, 2006.

         Revenues for the three months ended September 30, 2006 increased by
$17,843 from $57,973 for the three months ended September 30, 2005 to $75,816
for the three months ended September 30, 2006. The increase was due to an
increase in travel income of $15,880 and an increase in online shopping of
$3,887 offset by a decrease in reward program income of $1,924. The increase in
travel and online shopping income was a result of an increase in credit card
sales under the to HSBC and the Commonwealth Bank of Australia contracts. The
decrease in awards income was a result of limited advertising and promotion
during the quarter.

         Cost of sales decreased from 53.1% of sales for the three months ended
September 30, 2005 to 20.6% of sales for the three months ended September 30,
2006. Gross profit increased by $33,011 from $27,162 for the three months ended
September 30, 2005 to $60,173 for the three months ended September 30, 2006. The
improved gross profit was mainly due to an improvement in travel commission
income which has limited cost of sales expense, and has resulted in an improved
gross margin.

         Overhead  costs for the quarter  increased by $94,456 from $242,328 for
the quarter September 30, 2005 to $336,784 for the quarter ended September 30,
2006. General and administration costs increased by $40,494 due to the use of
contract consultants, legal and professional fees reduced by $54,742 due to
company filing costs, advertising costs increased by $16,060 due to bank
contract advertising, salaries increased by $93,536 due to a new COO and
additional directors salaries and premises costs reduced by $1,800 due to rent
reduction. Amortization increased by $908.

         Interest expense increased by $11,259 from $637 for the quarter ended
September 2005 to $11,896 for the quarter ended September 2006. The increase was
due to an increase in notes payable.

         We incurred a net loss of $294,544 or $(0.01) per share based on
32,451,900 weighted average shares outstanding for the quarter ended September
30 2006 compared to a loss of $215,803 or $(0.01) per share based on 26,311,000
weighted average shares outstanding for the quarter ended September 30,2005.

Results for the nine months ended September 30, 2006.

         Revenues for the nine months ended September 30, 2006 increased by
$162,356 from $197,752 for the nine months ended September 30, 2005 to $360,108
for the nine months ended September 30, 2006. The increase was due to a increase
in travel income of $121,128, an increase in online shopping income of $47,836
and a decrease in reward program income of $6,608. The increase in travel and
online shopper income was a result of the introduction of the HSBC and CBA
cardholder contracts, while the reduction in rewards income was a result in
reduced promotion activity due to financial limitations.

         Cost of sales reduced from 43.7% of sales for the nine months ended
September 30, 2005 to 33.6% of sales for the nine months ended September 30,
2006. Gross profit increased by $127,917 from $111,169 to $239,086 for the nine
months ended September 30, 2005 to $121,022 for the nine months ended September
30, 2006. The improved gross margin was due to an increase in travel commissions
which has a lower cost of sales component.

         Overhead costs for the nine months increased by $317,759 from $583,737
for the nine months ended September 30, 2005 to $901,496 for the nine months
ended September 30, 2006. General and administration costs increased by $124,225
mainly due to travel expense developing the European market, Legal and
professional fees reduced by $49,902 due to company filing costs incurred in the
previous year, advertising costs increased by $45,769 due to bank sales
contracts, salaries increased by $204,580 mainly due to a new COO and directors
salaries increase, while premises costs reduced by $8,758 due to rent reduction.
Depreciation increased by $1,845 due to fixed assets additions.


                                       22
<PAGE>


Interest expense increased by $15,965 due to an increase in notes payable.

         We incurred a net loss of $686,189 or $(0.01) per share based on
32,402,000 weighted average shares outstanding for the nine months ended
September 30, 2006 compared to a loss of $474,345 or $(0.01) per share based on
25,717,000 weighted average shares outstanding for the nine months ended
September 30,2005.

         Through the nine months ended September 30, 2006 we have relied on
advances of approximately $395,812 from our principal note holders, trade
payables of approximately $239,671, proceeds of $80,000 from the sale of common
stock to support our operations. As of September 30, 2006, the Company had
approximately $38,973 of its own cash and cash equivalents. We plan to seek
additional equity or debt financing of up to $3 million which we plan to use to
use for working capital and to implement a marketing program to increase
awareness of our business and to expand our operations into the US market.


LIQUIDITY AND CAPITAL RESERVES

      The Company has operated its loyalty and rewards program in Australia
since October 2002 and intends to expand its program and operate it in Europe in
2006. The company anticipates that this expansion will be funded principally
through the issuance of equity or debt securities or by entering into other
financial arrangements, including relationships with corporate and other
partners, in order to raise additional capital. Depending upon market
conditions, the company may not be successful in raising sufficient additional
capital for it to achieve its business objectives. In such event, the business,
prospects, financial condition, and results of operations could be materially
adversely affected.

      Initial expenses for the company will include acquiring a suitable travel
agency, leasing suitable facilities in Europe; purchasing or leasing sufficient
operating equipment, primarily computers and phone systems; hiring sufficient
staff for the company's European operations; and, producing sufficient
promotional materials.

      There is no guarantee that the company will be successful in expanding its
operations to non-Australian markets or that if it does that its marketing and
sales endeavors outside Australia will be successful.

      The company's operation in Brisbane, Queensland, Australia currently
employs approximately 7 people. While the operations in Australia have been
successful in attracting premium banking institutions as client, its has failed
to achieve profitability. The Company is currently evaluating the feasibility of
maintaining its Australian operations.

      If the Company is successful in raising capital, the company plans to
enter the more lucrative and growing European market in 2007, using the same
technology and format as that used in Australia. The Company plans to set up an
office and call center in the United Kingdom, and plans to duplicate the
structure already in place in Australia. Initial expenses for the European
operations will include acquiring a travel agency in the United Kingdom,;
purchasing or leasing sufficient operating equipment, primarily computers and
phone systems; hiring sufficient staff for the Company's European operations;
and producing sufficient promotional materials. The Company has budgeted to
spend $1.0 million dollars in developing the European market.

      In order to meet its cash requirements for the next twelve months, the
Company plans to raise capital through private placements and through working
capital generated from operations.


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<PAGE>


      There is no guarantee that the Company will be successful in its attempt
to raise capital sufficient to meet its cash requirements for the next twelve
months. If the company is not successful in its effort to raise sufficient
capital to meet its cash requirements, or if the note holders choose not to
support the Company, the business will fail and the company will cease to do
business. The note holder in the amount of $384, 811 listed in note 6 of the
financials statements has indicated that they will no longer be providing
additional cash to the Company. The Company anticipates that this note holder
will demand repayment of the note when it becomes due on January 31, 2007. The
Company is looking at various options to resolve this issue. If the Company is
unable to repay the note when due, then the note holder will be able to attach
the Company's assets under the provisions of the note. There is substantial
uncertainty regarding the Company's ability to raise sufficient funds to settle
the note.


Item 3. Controls and Procedures.

(a) Disclosure controls and procedures . Within 90 days before filing this
report, the Company evaluated the effectiveness of the design and operation of
its disclosure controls and procedures. The Company's disclosure controls and
procedures are the controls and other procedures that it designed to ensure that
it records, processes, summarizes and reports in a timely manner the information
it must disclose in reports that it files with or submits to the Securities and
Exchange Commission. Maxwell Thomas, the Company's Chief Executive Officer and
Michael Sullivan, its Director, supervised and participated in this evaluation.
Based on this evaluation, Messrs. Thomas and Sullivan concluded that, as of the
date of their evaluation, the Company's disclosure controls and procedures were
effective. (b) Internal controls. Since the date of the evaluation described
above, there have not been any significant changes in the Company's internal
accounting controls or in other factors that could significantly affect those
controls.

                           PART II - OTHER INFORMATION

ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

No stock was issued during the quarter ended September 30, 2006.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

(a) Exhibits: Exhibits required to be attached by Item 601 of Regulation S-B are
listed below:

31.1    Certification of Maxwell Thomas pursuant to Section 302 of the
        Sarbanes-Oxley Act of 2002.

32.1    Certification of Maxwell Thomas pursuant to Section 906 of the
        Sarbanes-Oxley Act of 2002.


(b) Reports on Form 8-K: No reports on Form 8-K were filed during the period
covered by this Form 10Q-SB.




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                                   SIGNATURES

         In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized, this 20th day of November, 2006.

                                                Maximum Awards Inc

                                                /s/ Maxwell Thomas
                                                -------------------------------
                                                Maxwell Thomas
                                                Chief Executive Officer and
                                                Chief Financial Officer







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