Commission expense continues to rise in proportion to the increase in both investment sales fees
and mortgage banking fees.
stock fund, having seasoned portfolio managers, solid long-term performance and reasonable sales fees
and being open to average investors.
7 million, or 29%, for the 1995 quarter as a result of company owned learning center, franchise royalty and franchise sales fees
The ARK Advantage Annuity has no up-front sales fees
or administrative charges.
Franchise sales fees
and product and equipment revenue also showed strong gains for both periods.
The Company will pay all brokerage commissions and sales fees
relating to such open market purchases.
Franchise revenues increased 103% ($220,000), the net result of a decline in initial franchise sales fees
($17,000) and an increase in continuing royalties ($237,000) resulting primarily from the acquisition of Check-X-Change in the fourth quarter 1993 ($213,000).
Charles John Koch, president and chief executive officer, said, "We are offering this new product to provide our conservative customers and others, who may be considering investing in mutual funds or stocks, the opportunity to invest in a safe investment that is FDIC insured with no load or sales fees
and, when held to maturity, eliminates any possible loss of principal.