Financial 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.
Approved on behalf of the Board:
Peter Silverberg Director
Director
President & Chief Executive Officer
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Testimonials
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I wanted to let you know what a nice person James Gipson is. He is so friendly and took his time and went beyond the call of duty explaining everything to me. It was not a rush job and I didn’t feel it was just taking my money. He is exceptional and I would like to make sure he knows he is appreciated.
-Inyang, GA -
Still the best value in the industry!
-Dave, ON -
We were victims of a home invasion in 2006. Wish we were AlarmForced then. Now we feel safe in our home. Thanks AlarmForce.
-Trina, BC -
Your technician was very professional. After he was finished, I knew I made the right choice.
-John, OH -
Install tech was very personable, professional and knowledgeable. If he's any representation of AlarmForce I look forward to working with your team.
-Darlene, OH -
We set the alarm off a couple of times by mistake but haven't had to use it otherwise. I am alone now and it's a good feeling to have the alarm system.
-Helen, AB -
I'm very pleased with the voice response system. I have set off my alarm a couple of times and the representatives are always very helpful and courteous.
-Paula, BC -
AlarmForce has given my family a sense of security and peace. With having a brand new baby girl to protect, AlarmForce keeps us sleeping safe in our beds. The staff has always been very helpful/knowledgeable when we have needed questions answered. We have recommended AlarmForce to many of our friends that are starting of in their new homes. Thank you AlarmForce, keep up the great work!
-Reydean R. - Airdrie, AB
