Consolidated Statement of Cash Flows For the years ended Oct. 31, 2006 and Oct. 31 2005
| 2006 | 2005 | |
| $ | $ | |
| Operating activities | ||
| Net income for the year | 1,492,336 | 810,214 |
| Items not involving cash: | ||
| Amortization: | ||
| Property, plant and equipment | 1,821,279 | 2,185,597 |
| Deferred charges | 9,591 | 9,591 |
| Intangible assets | 754,173 | 752,577 |
| Future income taxes | (66,000) | (605,767) |
| Stock compensation | 29,480 | 54,747 |
| 4,040,859 | 3,206,959 | |
| Changes in non-cash components of working capital: | ||
| Accounts receivable | (30,269) | 167,736 |
| Inventory | (469,413) | (519,364) |
| Prepaid expenses and deposits | (77) | 10,929 |
| Accounts payable and accrued liabilities | 586,331 | 159,398 |
| Unearned revenue | 135,440 | (14,822) |
| Income taxes | 200,878 | 181,551 |
| Deferred Revenue | 481,485 | 326,400 |
| 904,373 | 311,828 | |
| Investing activities | ||
| Additions to property, plant and equipment | (4,633,796) | (2,616,996) |
| Additions to intangible assets | (150,000) | - |
| (4,783,796) | (2,616,996) | |
| Financing activities | ||
| Repayment of fixed rate term loan | (29,166) | - |
| Decrease in long-term debt | (660,492) | (1,270,880) |
| Proceeds from issue of share capital | 350,455 | 86,360 |
| (339,202) | (1,184,520) | |
| Change in cash and cash equivalents | (177,766) | (282,729) |
| Cash and cash equivalents, beginning of year | 4,087,074 | 4,369,803 |
| Cash and cash equivalents,end of year | $3,909,308 | $4,087,074 |
| Supplemental cash flow information: | ||
| Interest paid | $82,072 | $96,851 |
| Income taxes paid | $885,700 | $904,563 |
| Non–cash transaction: | ||
| Fixed rate term loan obtained to finance property | $1,000,000 | - |
See accompanying notes to financial statements.
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Testimonials
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I enjoyed the fact that when I called to notify of a vacation, your rep was actually cheery and didn't make me feel like I was wasting her time. A very nice woman.
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I am very happy with AlarmForce. It gives me a great sense of security. Thank you very much.
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Wonderful, informed, courteous staff - a credit to your company.
-Jago, ON -
Installer Trevor was excellent. A good representative of AlarmForce. Both knowledgeable and helpful. Answered all my questions. Thank you!
-Gerald, AB -
Not long ago our alarm went off for the first time in 2 years. We were very impressed by the way your team handled the call. Very prompt and professional. What a small amount to pay each month for peace of mind.
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Installer was very. very helpful. Made sure I knew how to operate system. Questions answered.
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We find the system very user friendly! We really like the simplicity.
-David, AB -
AlarmForce is the best choice to protect any home as it is an economical 24 hr monitored service. I never thankfully had to actually use the system for a incident but my family feels more secure knowing the system is there monitoring our home. I also would like to comment the staff as I had issues with low batteries the walked me through the maintenance of the system. Everyone I have dealt with was very friendly. I would and have recommended Alarm force to friends and co-workers. Thank You.
-Greg S. - Spruce Grove, AB
