- 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 RETAINED EARNINGS
| 2005 | 2004 | |
| $ | $ | |
| (Note 3) | ||
| Retained Earnings, beginning of year: | ||
| As previously reported | 4,528,147 | 3,252,161 |
| Restatement of consolidated financial statements (Note 3) | (3,656,719) | (2,684,333) |
| As restated | 871,428 | 567,828 |
| Net income for the year | 810,214 | 303,600 |
| Retained earnings, end of year | $1,681,642 | $871,428 |
See accompanying notes to financial statements.
CONSOLIDATED STATEMENT OF RETAINED EARNINGS
| 2005 | 2004 | |
| (Note 3) | ||
| Revenue | 17,227,494 | 14,393,779 |
| Cost of Sales | 3,688,697 | 3,320,404 |
| Gross Profit | 13,538,797 | 11,073,375 |
| Expenses | ||
| Selling | 5,966,172 | 4,812,790 |
| General and administrative | 3,202,301 | 3,210,444 |
| 9,168,473 | 8,023,234 | |
| Income from operations | ||
| before other expenses: | 4,370,324 | 3,050,140 |
| Other expenses: | ||
| Amortization: | ||
| Property, Plant and Equipment | 2,185,598 | 1,598,352 |
| Deferred charges | 9,592 | 10,404 |
| Intangible assets | 752,577 | 490,412 |
| Interest (Note 9) | 96,850 | 146,740 |
| Foreign exchange loss | 35,145 | |
| 3,079,762 | 2,245,908 | |
| Income before income taxes | 1,290,563 | 804,232 |
| Income taxes (Note 10) | 480,349 | 500,632 |
| Net income for the year | $810,214 | $303,600 |
| Basic net income per common share, ( Note 13) | $ 0.07 | $ 0.03 |
| Diluted net income per common share, ( Note 13) | $ 0.07 | $ 0.03 |
See accompanying notes to financial statements.