Financial Information

AlarmPlus, our exclusive line-cut technology does not require a functioning telephone line. In the event that a phone line is disabled, AlarmPlus immediately transmits a wireless signal to our central monitoring station and authorities are dispatched. This equipment opens a new market for people who use only cellular phones and do not have functional land lines at their premises. Now they can have an AlarmForce system installation. However, the primary application for the AlarmPlus technology in addressing the growing concern for telephone line tampering. Many police departments have voiced concerns about burglaries that occur after telephone lines to the premises have been cut, thereby making a traditional alarm system ineffective. To address this growing concern, AlarmPlus was developed to provide an add-on to any Alarmvoice system that would provide a low cost, dependable, high quality back-up in the event of telephone line tampering.

This added security feature provides an even higher level of protection to our customers, allowing for complete peace of mind..

We’re Growing!

While we continue to increase our marketing penetration within Canada, AlarmForce Residential Alarm Security is developing a new focus with the opening of the company’s first regional office in the United States. Our initial American location, in Charlotte, North Carolina will be the model for the United States expansion drive. With its 30 regional offices within Canada, AlarmForce has built a solid foundation for sustainable growth in the North American market. While we have invested in strengthening brand recognition in Canada it is now time to bring our innovative products to our neighbors to the south to provide them the opportunity to enjoy the feeling of wellbeing and the excellent customer care that Canadians have come to trust.

MANAGEMENT’S REPORT

These financial statements form the basis for all of the financial information that appears in this report. The financial statements and all the information in this report are the responsibility of the management of AlarmForce Industries Inc. and have been reviewed and approved by the Board of Directors. The Board of Directors is responsible for ensuring that management fulfills its financial reporting responsibilities. Kraft, Berger, Grill, Schwartz, Cohen & March LLP, the shareholders’ auditors have audited the financial statements.

Management has prepared the financial statements according to Canadian generally accepted accounting principles. Under these principles, management has made certain estimates and assumptions that are reflected in the financial statements and notes. Management believes that these financial statements fairly present AlarmForce Industries Inc. consolidated financial position, results of operation and cash flows.

In order to ensure the accuracy and objectivity of information included in the financial statements, management has designed and implemented a system of internal controls designed to provide reasonable assurance that the financial statements are accurate and complete in all material respects. Management is of the opinion that these internal controls provide reasonable assurance regarding complete and accurate maintenance of accounting records necessary for the preparation of the financial statements.

The Board of Directors exercises it responsibility over the financial statements through the Company’s Audit Committee. The audit committee reviews the financial statements and recommends their approval to the Board of Directors.

Anthony Pizzonia
Chief Financial Officer