8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    Form 8-K
                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


        Date of Report (Date of earliest event reported): April 30, 2003

                             FORTUNE FINANCIAL, INC.
                             -----------------------
             (Exact Name of registrant as Specified in its Charter)

Florida                               000-6764               59-1218935
- -------                               --------               ----------
(State or Other Jurisdiction          (Commission            (IRS Employer
 of Incorporation)                    File Number)           Identification No.)

                                200 Executive Way
                                    Suite 210
                        Ponte Vedra Beach, Florida 32082
                        --------------------------------
                    (Address of Principal Executive Offices)

                                 (904) 285-1747
                                 --------------
               Registrant's telephone number, including area code

                                       N/A
                                       ---
          (Former Name or Former Address, if Changed Since Last Report)

================================================================================

Item 5.  Other Events

     As  previously  reported  on a Form 8-K  filed on March 12,  2003,  Fortune
Financial, Inc. ("Fortune") filed a voluntary petition under Chapter 11 of Title
11 of the United  States Code (the  "Bankruptcy  Code")  with the United  States
Bankruptcy Court for the Middle District of Florida,  Jacksonville Division (the
"Court") on February 28, 2003.  The petition has been  designated as Case Number
03-2026-3F1. Fortune continues to operate its business and manage its properties
as debtor in  possession,  pursuant to sections 1107 and 1108 of the  Bankruptcy
Code.

     On April 30, 2003,  Fortune  submitted  to the Court its  required  Monthly
Financial  Report for the period from  February  28, 2003 to March 28, 2003 (the
"Report").  A copy of the Report as filed with the Court is  attached  hereto as
Exhibit 99.1 and is incorporated herein by reference.

     The data and  information  contained  in the Report is  presented in a form
prescribed  by the  Bankruptcy  Code  and  for a  period  shorter  or  otherwise
different than is required for reports filed pursuant to the Securities Exchange
Act of 1934.  Such  information  was not  audited  or  reviewed  by  independent
accountants and is subject to future adjustment and  reconciliation.  The Report
was not prepared for the purpose of providing a basis for an investment decision
in Fortune's common or preferred stock or debt.  Fortune cautions investors that
an investment in any of its securities is highly speculative.



     Fortune intends to file its Plan of  Reorganization  of Fortune  Financial,
Inc. (the  "Proposed  Plan") and related  disclosure  statement  with the Court.
Fortune  believes the  existing  equity  securities  of Fortune,  including  its
preferred and common stock,  have and will have no value and that any Chapter 11
reorganization  plan approved by the Court will not provide  Fortune's  existing
equity holders with any distributions, including any interest in the reorganized
debtor.  Accordingly,  Fortune does not  anticipate  providing  for any value or
distribution  to equity holders or any cash or debt  distribution  to holders of
general unsecured claims in the Proposed Plan.

     Due to material uncertainties,  it is not possible to predict the length of
time that Fortune will operate under Chapter 11 protection,  the outcome of such
case, the effect of the  proceedings on the business of Fortune or the potential
for recovery by its creditors.

     Complete  copies of  Fortune's  informational  filings made with the Court,
including  the Monthly  Financial  Report  attached as Exhibit 99.1 to this Form
8-K, are  available  to the public at the office of the Clerk of the  Bankruptcy
Court,  300 North Hogan Street,  Suite 3-350,  Jacksonville,  Florida 32202. The
main telephone  number for the Clerk's office in Jacksonville is (904) 232-2852.
The  complete  Monthly  Financial  Report can be  ordered  by  calling  Judicial
Research and Retrieval Services, Inc. at (904) 356-9110.

Item 7.  Financial Statements and Exhibits

     (c)  Exhibits

Exhibit Number           Description
- --------------           -----------

99.1           Monthly  Financial Report of the period from February 28, 2003 to
               March 28, 2003, as filed with the United States  Bankruptcy Court
               for the Middle  District of Florida,  Jacksonville  Division,  in
               Jacksonville, Florida on April 30, 2003, excluding exhibits.







                                    Signature

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                             FORTUNE FINANCIAL, INC.


Date:  May 14, 2003          By: /s/  J. JOHN WORTMAN
                                 -------------------------------
                                 J. John Wortman
                                 President and CEO






                                  EXHIBIT INDEX



Exhibit Number   Description
- --------------   -----------

     99.1      Monthly  Financial Report of the period from February 28, 2003 to
               March 28, 2003, as filed with the United States  Bankruptcy Court
               for the Middle  District of Florida,  Jacksonville  Division,  in
               Jacksonville, Florida on April 30, 2003, excluding exhibits.

EX-99