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Profile - Fortune Financial, Inc. (OTC BB:FORU.OB)
As of 31-Aug-2001
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More Info: News | Profile
Recent Events
Aug 31Price hit new 52-week low ($0.00)
Location
10475 Fortune Parkway, Suite 110
Jacksonville, FL 32256
Phone: (904) 363-6339
Fax: (904) 363-8338
Email: pcampanale@maig.com
Employees (last reported count): 179
Financial Links
 ·Raw SEC Filings at sec.gov
Competitors:
 ·Sector: Financial
 ·Industry: Insurance (Prop. & Casualty)
Company Website
 ·Home Page

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Ownership
·Insider and 5%+ Owners: 63%
·Institutional: 0% (1% of float)
(10 institutions)
·Net Inst. Selling: 3.27M shares
(prior quarter to latest quarter)
More From Market Guide
 ·Highlights
 ·Performance
 ·Ratio Comparisons
Business Summary
Fortune Financial, Inc., formerly known as Mobile America Corporation, is engaged primarily in the underwriting and marketing of minimum requirement automobile insurance in Florida. The Company has two principal wholly owned subsidiaries, Mobile America Insurance Group, Inc. (MAIG), a managing general agent for its insurance subsidiaries, and Fortune Insurance Company, a Florida-domiciled property and casualty insurance company. The Company's other wholly owned subsidiaries are business entities that offer different insurance-related products or services, and they include Fortune (automobile insurance), Pegasus (excess and surplus lines insurance), Fortune Financial (fee-for-service policy administration) and Fortune Premium Finance (premium financing). Mobile America's primary product is nonstandard, private passenger automobile insurance, sold primarily in the south Florida area.
More from Market Guide: Expanded Business Description

Financial Summary
Fortune Financial is engaged primarily in the underwriting and marketing of minimum requirement automobile insurance in Florida. For the nine months ended 9/30/00, revenues fell 33% to $20 million. Net loss rose 9% to $6.3 million. Results suffered from a decrease in net premiums earned due to the termination of the unprofitable portion of the Company's independent agency base. Higher losses also reflect increased operating expenses as a percent of sale.
More from Market Guide: Significant Developments

Officers
FY1999 Pay

Arthur Cahoon, 44
Chairman
$44K
J. Wortman, 59
Pres, CEO
139K
Duane Sanders, 43
VP-Operations
152K
Mark Brockelman, 45
VP, CFO
33K
Thomas McCorkle, 57
VP
146K
Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc..
More from Market Guide on Officers & Directors:
Expanded List, Bios, Compensation, Options
Statistics at a Glance -- OTC BB:FORU.OBAs of 31-Aug-2001
Price and Volume
52-Week Low
on 31-Aug-2001
$0.00 
Recent PriceN/A 
52-Week High
on 4-Oct-2000
$2.75 
Beta-0.45 
Daily Volume (3-month avg)182 
Daily Volume (10-day avg)0 
Stock Performance
52-Week Change-100.0%
52-Week Change
relative to S&P500
-100.0%
Share-Related Items
Market Capitalization$0 
Shares Outstanding7.47M
Float2.80M
Dividends & Splits
Annual Dividendnone 
Last Split: 23 for 20 on 19-June-1997
Per-Share Data
Book Value (mrq)$2.42 
Earnings (ttm)-$1.38 
Earnings (mrq)-$0.19 
Sales (ttm)$3.74 
Cash (mrq)$0.34 
Valuation Ratios
Price/Book (mrq)0 
Price/EarningsN/A 
Price/Sales (ttm)
Income Statements
Sales (ttm)$28.2M
EBITDAN/A 
Income available to common (ttm)-$10.4M
Profitability
Profit Margin (ttm)-37.0%
Operating Margin (ttm)-59.9%
Fiscal Year
Fiscal Year EndsDec 31
Most recent quarter30-Sep-2000
Management Effectiveness
Return on Assets (ttm)-12.48%
Return on Equity (ttm)-45.62%
Financial Strength
Current RatioN/A 
Debt/Equity (mrq)0.18 
Total Cash (mrq)$2.56M
Short Interest
As of 8-May-2001
Shares Short0 
Shares Short
(Prior Month)
0 
Daily Volume6,000 
See Profile Help for a description of each item above;   M = millions;   mrq = most-recent quarter;   ttm = trailing twelve months;   (as of 30-Sep-2000)

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