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.
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Testimonials
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As a child I remember being afraid of the dark. Even as an adult a scary movie or a bump in the night would set off that fear. I can avoid watching scary movies but i can not prevent a break in to my home...or can I? I have never felt so safe with an alarm system like AlarmForce. Not only do I arm my home during the day while at work, my home is armed while I am home alone and during the times where things go bump in the night. I sleep easy knowing that my home is armed. I would recommend Alarmforce to anyone the same way that got me on board with protecting my home. I have had alarm systems in past homes but nothing compares to having a live person monitoring your home when the alarm is triggered with a real threat or false alarm. I can honestly say I sleep better at night. Knowing that any intruder would see that my house is armed and know what they are up against is comfort in its own. I have no action packed glorified story...just a better nights sleep and a well secured protected home with AlarmForce. Thanks for everything.
-Laura T - Calgary, AB -
On my way home today around 12:15 p.m., I received a call from AlarmForce advising me that my alarm had alerted them to a possible break-in. Since no one should be at home at this time, they called the police. They told me that the police should arrive in approximately five minutes. Upon my arrival, I discovered the front door was open and AlarmForce advised it would be best not to go into the house until the police arrived. In about 20 minutes my cell phone rang and it was AlarmForce checking to see if all was okay. I advised them that the police had not arrived but that I would like to go into my house. They so kindly stayed on the phone with me during my entry and while I checked out the house. They also were kind enough to make the call back to the police advising them it was a false alarm. I just want to say thank you to the phone attendant and to AlarmForce. It would have been very frightening if I would have had to go into the house alone. It was a comfort just having someone on the phone with me. I truly appreciate the service you provide us.
-Sandy C. -
The installer (BJ) was very knowledgeable and courteous. I appreciate that very much.
-Randy, OH -
I was a bit hesitant about calling Alarmforce as I thought I would get the big sales pitch and have to commit my first born to get a system but I was connected to a salesperson named Terry who sounded more like he could have been my Dad than some high pitched sales guy. He just gave me the facts, told me that I could probably install the system myself and it all went off very well. We are always treated well when we call in for a test or even when we have accidentally set off the system. We feel great about our system, it is very sensitive and makes us feel a whole lot safer. Thanks Alarmforce!
-Ron B. - Sundre, AB -
Kenneth was professional, polite, patient. verbally skilled, helpful, i.e. excellent in every aspect.
-Caroly, Charlotte, NC -
We enjoy having AlarmForce in our home. It's a superior system that delivers on its promise of a much more affordable price than the other guys.
-Shane, AB -
The alarm allows me to sleep at night without worrying too much. I had a house that had several break-ins, hopefully the AlarmForce tags on my doors and windows will discourage thieves.
-Sandra, BC -
I feel very comfortable with your alarm system. When testing and the alarm has gone off, they phone right away. My other alarm company waited 2-3 minutes before they phoned. I'm alone a lot and lot at night and feel very secure with AlarmForce. Thank you.
-Rod, AB
