- We protect over 150,000 people across North America
- Over 20 years experience in the industry
- One of the few alarm companies to manufacture our own technology
- You deal directly with AlarmForce at all times
- Lowest prices and best value in the business
Finacial Information
CONSOLIDATED BALANCE SHEET
| 2004 | 2003 | |
| $ | $ | |
| ASSETS | ||
| Current | ||
| Cash | 369,803 | 21,889 |
| Short term investments | 4,000,000 | - |
| Accounts receivable | 411,871 | 247,070 |
| Inventory | 1,151,291 | 1,238,684 |
| Prepaid expenses and deposits | 50,865 | 98,798 |
| 5,983,830 | 1,606,441 | |
| Deferred Charges (Note 4) | 5,915,040 | 4,285,922 |
| Property, Plant & Equipment (Note 5) | 9,822,109 | 8,889,192 |
| Intangible Assets (Note 6) | 3,175,803 | 1,941,474 |
| Other Assets | - | 284,302 |
| 24,896,782 | 17,007,331 | |
| LIABILITIES | ||
| Current | ||
| Accounts payable and accrued liabilities | 2,218,977 | 1,232,048 |
| Unearned revenue | 454,534 | 413,689 |
| Income taxes | 264,202 | 44,966 |
| Current portion of long-term debt (Note 8) | 1,241,549 | 2,076,133 |
| 4,179,262 | 3,766,836 | |
| Deferred Revenue | 1,353,411 | 978,307 |
| Long-term debt (Note 8) | 975,052 | 1,953,998 |
| Future Income Taxes | 1,950,000 | 1,247,000 |
| 8,457,725 | 7,946,141 | |
| SHAREHOLDERS’ EQUITY | ||
| Share capital (Note 9) | 11,708,770 | 5,809,029 |
| Paid-in capital - options (Note 9) | 202,140 | - |
| Retained earnings | 4,528,147 | 3,252,161 |
| 16,439,057 | 9,061,190 | |
| $ 24,896,782 | $ 17,007,331 |
See accompanying notes to financial statements.
Joel Matlin
Peter Silverberg
Director
Director
President & Chief Executive Officer