Consolidated Balance Sheet For the years ended Oct 31, 2006 and Oct. 31, 2005

  2006 2005
  $ $
ASSETS    
Current    
Cash and cash equivalents 3,909,309 4,087,074
Accounts receivable 274,405 244,136
Inventory 2,140,069 1,670,656
Prepaid expenses and deposits 40,013 39,936
  6,363,796 6,041,802
Deferred charges (Note 3) 33,411 72,482
Property, plant and equipment (Note 4) 14,066,022 10,253,508
Intangible assets (Note 5) 3,417,321 4,021,491
  $23,880,550 $20,389,283
LIABILITIES    
Current    
Accounts payable and accrued liabilities 2,964,706 2,378,375
Unearned revenue 575,152 439,712
Income taxes payable 646,631 445,753
Current portion of long-term debt (Note 6) 330,015 660,480
  4,516,504 3,924,320
Deferred revenue 2,161,296 1,679,811
Long-term debt (Note 6) 926,047 285,240
Future income taxes (Note 9) 755,000 821,000
  8,358,847 6,710,371
Contingent Liability (Note 10)  
SHAREHOLDERS’ EQUITY  
Share capital (Note 7) 12,145,585 11,795,130
Paid-in capital - options (Note 7) 202,140 202,140
Retained earnings 3,173,978 1,681,642
  15,521,703 13,678,912
  $23,880,550 $20,389,283

See accompanying notes to financial statements.

Approved on behalf of the Board:

Joel Matlin, Alarforce Director
Joel Matlin, Director
Peter Silverberg, Director
Peter Silverberg, Director



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Testimonials

  • 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
  • By, the way the alarm system is great - I feel much safer now especially when my husband is on the graveyard shift. The fellow that installed it for us too was very professional and helpful.
    -Debbie, BC
  • I want to thank you most sincerely for your response this morning when I apparently triggered a false alarm at our residence and left our back door unlocked.  I was having some difficulty with my wife when we left (she has Alzheimer's disease).  When I returned about an hour later I noticed the door was now locked and the telephone was ringing.  It was your office with notification of the alarm and your response. Our son also phoned shortly afterwards to advise that you had notified him also in response to the alarm.  I had also neglected to turn on my cell phone. Again, my sincere appreciation for your immediate response and corrective action; but then, that's why we subscribe to AlarmForce. But please accept my apology for causing the problem in the first place.
    -Norman, ON
  • We are very much satisfied with your service and we will definitely recommend to our friends and neighbors. Thank you for protecting us.
    -P. M
  • We really appreciated how they added us urgently to their schedule for installation because of our distress.  Great team.
    -Francois, AB
  • Very satisfied and sleep securely at night. Thank you.
    -F. W.
  • Neil was very helpful, friendly and professional.
    -Ana, ON
  • 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
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