Fortsum Business Solutions Inc.

Fortsum Business Solutions Inc. is engaged in the development, marketing and support of accounting, commercial and banking data management software. The company was formed in October 1984 as Fortune 1000 Group Inc., became publicly traded in August 2004, and changed its name to Fortsum in January 2006. Operating primarily within the province of Québec, Fortsum intends to become the leader in accounting and the secure electronic exchange of financial information for Québec-based companies of all sizes.

Management believes that the company’s principal assets are its strategic position in the Québec small to medium sized business (SMB) market and its multi-platform accounting expertise. Fortsum is the largest accounting software developer in Québec and the company currently serves over 75,000 Canadian businesses.

Products & Services

Fortsum offers a wide variety of products and complementary services that can be adapted to the different needs of specific client types. One of the company’s key offerings is Acomba, a management system developed to handle accounting, commercial and banking data for SMBs. The Acomba suite of software products is known for its ease of use and conformity with accounting standards.

Accountant’s Tools is a suite of flexible applications designed to help clients meet continuously changing accounting regulations. The Accountant’s Tools product suite contains specialized communications, accounting data analysis and professional financial report production utilities. In addition, this product has the ability to import data from most of the current accounting software available on the market.

Another product offered by the company is called Auditor's Drill, a secure high-performance tool for extracting and analyzing company financial data.

Users of software programs developed by Fortsum benefit from a complete line of forms and storage systems such as envelopes and invoices which are specifically designed for the software. The company also offers a range of training courses taught by qualified instructors to help users work efficiently and effectively with their software.

Significant Acquisition

In April 2006, Fortsum completed the acquisition of Groupe Conseil LVMB Inc. for approximately $3 million. LVMB specializes in the integration of accounting management software for businesses of all sizes. As of September 30, 2005, LVMB’s annual sales totalled $5.7 million with associated EBITDA of about $525,000. Management stated that this acquisition positions Fortsum as a major player in the integration of financial information within the province of Québec and increases the company’s annualized revenues by approximately 40%.

The three months ending September 30, 2006, will mark Fortsum’s first complete quarter of operations incorporating the operations of LVMB.

Recent Developments

In late April 2006, the company signed a five-year agreement with Centria Commerce, an e-commerce business, regarding the development, implementation and technical support of an innovative solution for construction companies. By automating and integrating invoicing and payment processes, this solution will allow construction businesses to link their accounting systems to a mortgage payment management platform developed by Centria. On July 4, 2006, Fortsum announced that it had signed a contract with the Ministère des Ressources naturelles et de la Faune du Québec (MRNF) for the technical support of the Acte en Ligne software program for a 12-month period expiring on June 30, 2007. At the same time, the corporation also renewed its marketing agreement for this software for an additional 19 months until January 31, 2008. Acte en Ligne was specifically developed to allow notaries within Québec to electronically transfer their acts to the Registre foncier du Quebec. To date, approximately 160,000 acts have been registered with this technology, which is used by 220 public notaries throughout the province.

On July 10, 2006, Fortsum announced that an agreement was signed with the Ministere du Revenu du Québec for the period from April 1, 2006, through March 31, 2009, for the use of Fortsum’s Auditor's Drill software. The agreement provides for over 1,500 auditors, located throughout the province of Québec, to use the Fortsum technology to perform auditing engagements. This agreement includes complete technical support, continued development and training necessary for the efficient use of the product over the next three years.