Alert: Success Magazine/HomeBuyers of America - Posted by John J,


Posted by John J, on February 21, 1999 at 01:07:08:

Several participants in this message board have complained about Home Buyers of America, Home Buyers Training Corp, Fortune 21, etc. These companies are all owned by Fortune Financial Systems, Inc. (FFSY). Several of the company?s shareholders are having an online discussion about the way they are being treated by the company (about the same as those who sign up for the training, etc,) The stock went down from $9.00 to 13 cents and is now trading at about 34 cents. The following is an entry into the discussion:

If you have had some issues with the company, you might want to start a dialogue with the shareholders, as they do not seem to have a clue about the company?s operating practices or businesses.

The following are some interesting postings:

From: Daniel Mott Monday, Jan 11 1999 10:52PM ET
Reply 242 of 279

Hopefully, no knife falling on you this time. I have some more info.

  1. FFSY’s auditors are the same firm that Success Magazine uses (Goldstein,etc.)
  2. Roger Royce, CEO, owns at least one million shares. He mentioned to me that he certainly has a vested interest in the organization thriving because he has viewed this price decline from $9 to .13 That swing is from $9 million to $130K. Talk about pain!

To: A. P. Farrow (199 )
From: ROY SENDELE Tuesday, Oct 13 1998 1:35PM ET
Reply # 200 of 279

Salt Lake City, Utah
October 13, 1998
Fortune Financial Systems, Inc. has agreed, in principal, for a 45 year co-brand license with Success Magazine. Potential multi-million dollar impact on company balance sheet. Fortune continues to seek acquisition candidates.
Fortune Financial Systems, Inc. and Success Magazine, a publication owned by Success Holdings, have agreed in
principal to expand their working relationship. This expanded strategic alliance with Success Holdings offers Fortune many new business opportunities. As one example, Success Holdings has agreed to expand the co-branding agreement in which Fortune will receive a license and continuing rights to the Success data base for “Success magazine” for a new term of 45 years. Independent intellectual property appraisers have preliminarily indicated to the company that the value of this long-term license has a multi-million dollar value and will have a very positive effect on the company?s balance
sheet. At this time discussions of consideration include both cash and stock options, however amounts are yet to be

To: Dave Johnson (0 ) From: ROY SENDELE Thursday, Oct 15 1998 12:50PM ETReply 202 of 279

  • Fortune explores expansion of co-branding of “SUCCESS”* Fortune has agreed in principal for a 25 year co-brand license with’Working at Home’* Fortune explores changing name to capitalize on Success Brand. SALT LAKE CITY, Oct. 15 /PRNewswire/ – Fortune Financial Systems, Inc.(BB: FFSY) has reached agreement in principal to join in acloser and more dynamic working relationship with one of its largest strategicpartners and shareholders, Success Holdings. Success Holdings is a privatecorporate conglomerate whose investment interests includes Fortune FinancialSystems. Success Media, Inc. a media publications group who is the owner of"Success" and “Working at Home” magazines, Success Financial Inc., aentrepreneurial investment company and Success Real Estate, Inc. which ownsand developments trophy real estate throughout the world. It is the presentintention of both companies to maximize the opportunity to explore theco-branding potential of using the name of "Success.“In addition, Fortune and Success Holdings have agreed in principal foradditional consideration in restricted stock to be determined, to furtherexpand the co-branding agreement in which Fortune will receive a 25 yearlicense with “Working at Home” magazine.Further, Success Holdings in a separate agreement has agreed to selladvertising to Fortune at “remnant pricing” in both its mainstream magazines"Success” and “Working at Home.” Under this arrangement, the additional valueto Fortune in advertising is in excess of $500,000 per year.Under the new proposed Success co-branded licensing agreement, the companyis exploring the use of “Success” in capitalizing on the strong identificationof its name, trademarks, and publications. The Board of Directors, havingreviewed the company’s name changes concept, has concluded that an alternativecompany name could make a better statement and better billboards the missionplan of the company.