- 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
Financial Information
CONSOLIDATED STATEMENT OF CASH FLOWS
| 2004 | 2003 | |
| $ | $ | |
| Operating activities | ||
| Net income for the year | 1,275,986 | 1,301,509 |
| Items not involving cash | ||
| Amortizations: | ||
| Property, plant and equipment | 1,598,351 | 1,400,444 |
| Deferred charges | 2,135,928 | 1,612,350 |
| Intangible assets | 319,556 | 168,785 |
| Future income taxes | 879,020 | 527,000 |
| Stock Compensation | 105,281 | - |
| 6,314,122 | 5,010,088 | |
| Cash in non-cash components of working capital: | ||
| Accounts receivable | (164,801) | (41,758) |
| Inventory | 87,393 | 88,386 |
| Prepaid expenses and deposits | 47,933 | (10,679) |
| Accounts payable and accrued liabilities | 986,929 | (163,263) |
| Income taxes | 219,236 | 60,000 |
| Deferred Revenue | 375,104 | 279,071 |
| Unearned revenue | 40,845 | 30,085 |
| 1,592,639 | 241,842 | |
| 7,906,761 | 5,251,930 | |
| Investing activities | ||
| Additions to property, plant and equipment | (2,531,268) | (2,532,608) |
| Additions to intangible assets | ( 1,446,641) | (400,000) |
| Deferred charges | ( 3,668,187) | (2,638,307) |
| Increase in short term investments | (4,000,000) | - |
| Decrease in other assets | 284,302 | - |
| (11,361,794) | (5,570,915) | |
| Financing activities | ||
| Increase (decrease) in long-term debt | (1,813,530) | 154,494 |
| Proceeds from issue of share capital | 5,616,477 | 142,375 |
| 3,802,947 | 296,869 | |
| Change in cash | 347,914 | (22,116) |
| Cash, beginning of year | 21,889 | 44,005 |
| Cash, end of year | 369,803 | 21,889 |
| Supplemental cash flow information: | ||
| Interest paid | 146,739 | 211,465 |
| Income taxes paid | 142,848 | 51,862 |
| Supplemental schedule of non-cash financing & investing activities | ||
| Common shares issued for acquisition of intangible assets | 107,245 | 92,500 |
See accompanying notes to financial statements.