Integrity Mutual Funds, Inc. is engaged, through subsidiaries, in providing investment management, distribution, shareholder services, fund accounting and other related administrative services to the open-end investment companies known as Integrity Mutual Funds and Ranson Managed Portfolios. Integrity Mutual Funds consists of five open-end investment companies, including ND Tax-Free Fund, Inc., Montana Tax-Free Fund, Inc., South Dakota Tax-Free Fund, Inc., Integrity Fund of Funds, Inc. and Integrity Small-Cap Fund of Funds, Inc. Ranson Managed Portfolios consists of one open-end investment company containing four portfolios, including The Kansas Municipal Fund, The Kansas Insured Intermediate Fund, The Nebraska Municipal Fund and The Oklahoma Municipal Fund. In addition, the Company sells mutual funds and insurance products. It also became an Internet provider with the ownership of Magic Internet Services, Inc. In June 2003, the Company sold Magic Internet to SRT Communications, Inc.