- 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
3) Equity : In January 2005, the CICA issued Handbook Section 3251, “Equity,” which replaces Section 3250, “Surplus.” It establishes standards for the presentation of equity and changes in equity during reporting periods beginning on or after October 1, 2006. Financial statements of prior periods are required to be restated for certain specified adjustments. For other adjustments, the adjusted amount must be presented in the opening balance of accumulated other comprehensive income. The Company plans to adopt this Section on November 1, 2006. The effect on the Company’s consolidated financial statements is not expected to be material.
4) Hedges : CICA Handbook Section 3865, “Hedges,” was issued in January 2005 to clarify requirements for determining hedging relationships and applying hedge accounting. The Company plans to adopt this Section on November 1, 2006 and does not expect the adoption to have a material effect on its consolidated financial statements.
3. DEFERRED CHARGES
| 2006 $ |
2005 $ |
|
| Deferred stock compensation | 12,632 | 42,112 |
| Deferred development costs (net of accumulated amortization of $75,136; 2005 - $65,545) | 20,779 | 30,370 |
| 33,411 | 72,482 |
4. PROPERTY, PLANT AND EQUIPMENT
| 2006 | 2005 | |||
| Cost $ |
Accumulated Amortization $ |
Cost $ |
Accumulated Amortization $ |
|
| Land | 600,000 | – | – | – |
| Building | 2,191,007 | 54,775 | – | – |
| Rental equipment | 17,225,520 | 6,316,650 | 15,050,402 | 5,237,241 |
| Computer equipment | 600,204 | 465,909 | 548,457 | 419,443 |
| Computer software | 310,078 | 189,816 | 280,831 | 144,541 |
| Furniture and fixtures | 360,116 | 200,489 | 275,786 | 171,123 |
| Moulding equipment | 57,386 | 50,650 | 57,386 | 39,173 |
| 21,344,311 | 7,278,289 | 16,474,253 | 6,220,745 | |
| Net Book Value | 14,066,022 | 10,253,508 | ||
5. INTANGIBLE ASSETS
Intangible assets include the gross up of the future tax liability pertaining to these assets, and consist of the following:
| 2006 $ |
2005 $ |
|
| Franchise rights | 6,132,549 | 5,982,550 |
| Less: Accumulated amortization | 2,715,228 | 1,961,059 |
| 3,417,321 | 4,021,491 |