Financial Information
6. LONG –TERM DEBT
| 2006 | 2005 | |
| $ | $ | |
| Fixed rate term loan | 970,834 | 42,112 |
| Revolving term loans | 285,228 | 30,370 |
| Less: Current portion | 330,015 | 660,480 |
| 926,047 | 285,240 |
The Company has credit facilities in the aggregate amount of approximately $5,800,000 (2005 -$5,800,000). Loans made under the respective facilities are repayable over various terms, in monthly installments of principal plus interest at the prime rate plus 0.75% per annum, pursuant to individual contract periods. In 2006, the Company also obtained a fixed rate term loan in the amount of $1,000,000 to finance the acquisition of property consisting of land and building, and is repayable (principal and interest) in monthly installments, with monthly principal repayments of $4,167 bearing an interest rate of 5.58% per annum, which is due March 2016. A general assignment of book debts, a general security agreement, and an assignment of the proceeds of a $300,000 life insurance policy have been pledged as collateral.
Future minimum payments are due as follows:
| Total $ | |
| 2007 | 330,015 |
| 2008 | 55,217 |
| 2009 | 50,004 |
| 2010 | 50,004 |
| 2011 | 50,004 |
| 2012 onwards | 720,818 |
| 1,256,062 |
7. SHARE CAPITAL
The Company is authorized to issue an unlimited number of common shares.
The changes in the issued common shares of the company during 2006 and 2005 are as follows:
| Number of Shares | Value $ |
|
| Balance, October 31, 2004 | 11,574,888 | 11,708,770 |
| Issued during 2005: | ||
| For cash pursuant to option plan | 101,600 | 86,360 |
| Balance, October 31, 2005 | 11,676,488 | 11,795,130 |
| Issued during the year: | ||
| For cash pursuant to option plan | 412,300 | 350,455 |
| Balance, October 31, 2006 | 12,088,788 | 12,145,585 |
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Testimonials
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I have been alone for 51/2 years, since my husband passed away. I am in the country - 15 acres - I probably would have had to go to town if I hadn't had AlarmForce. I feel safe and that's as good as it gets!
-Nancy D. -
Installation was excellent and very knowledgeable about questions and options.
-William, OH -
We've been customers for 8 years and our experience with AlarmForce has been very positive - thanks.
-Penny, BC -
It was five days before Christmas in 2009, when I was finally getting off of work, to come home and enjoy my holidays. I had been in Northern Alberta and British Columbia working for awhile and not getting the chance to come home very often. My landlord of the house, my spouse and I were renting, lived across the street and was able to watch our house while we were both out of town. It was 9:00pm the night before I flew home, when my landlord called to say our house had gotten broken into. I was very frustrated, upset and angry mainly because I come from a small town in Saskatchewan and not a lot of crime goes on. I did not know what to expect when I got home to see if all of our belongings were missing and the house destroyed. I remember coming home from the airport, very scared, not wanting to even stay at my house over night. When I got home, there was this feeling of someone there, but really there wasn't. Everything seemed to still be intact, and not missing, but I did not feel safe staying there by myself that night. I decided to stay with family. The next day, I called Alarm Force to have a system set up in our house. I was leaving for Saskatchewan within 72 hours, and no one from alarm force could come. This was very understandable since it was short timing. I explained to AlarmForce over the phone what had happened, how I did not feel safe, and I wanted to purchase a system. AlarmForce was very helpful. Their best intention was to get a system for me installed as soon as possible so I would feel safe in my own home. AlarmForce was very helpful and they worked with my landlord and me in installing a system in my house, even knowing me and my spouse were gone from Christmas. After Christmas I came home to find a wonderful, easy, accessible alarm to use that was very understanding to learn. The best part was how much room the alarm took up, which was not much! The amount of money I have to pay for having the alarm is well worth than having my belongings maybe gone one day, or myself in danger. I like how the payment system is set up on a monthly payment, and I can transfer my system to friends or family if need be. We still live in the house so it is definitely paying off. I also love that if we were to move, we can move our system to different locations. I am more home now, than I used to be but my spouse is still out of town lots. I sometimes get very nervous staying by myself which affects sometimes the way I sleep. Being paranoid about staying in a house by yourself is not a very good feeling. It bothers me a lot that for whoever broke in knows where I live and what belongings are in the house. Will they return? But when I put my alarm system on while I am in the house, and at night going to sleep- the system makes me feel very stress and paranoid free. I know if something was to happen and someone had gotten into my house- help would be around the corner. One time, my family was up visiting with our family dog, and we were going out for supper. I was not used to having a pet around, and I set the alarm not even thinking the dog was in the house. I had received a call from Alarm Force on our way to the restaurant but I missed the call. Next thing I knew, my landlord was calling me to state that he had received a call from AlarmForce. He knew most likely I set the alarm and the dog had been in the house. I was very shocked in how the phone call was sent out asking if everything was okay. This was the first time in over a year, AlarmForce had to call, and it was amazing how comforting the time was and how it did not take long for someone to contact me. This made me feel even better about the purchase we made of installing Alarm Force in our house. I would recommend Alarm Force to anyone who is insisting to have a system put into their house. I have told many people about my story of how Alarm Force was there for me, even if I was not able to be there. I explain to others how comforting it is to have someone “with” you even knowing no body physically is there. It is an affordable way to keep one or one's family safe.
-Sara G. - Edmonton, AB -
I am glad I have this service.
-Margaret, ON -
Mark was very helpful, Neil the installer was knowledgeable, patient and efficient with our needs.
-Rosanne, ON -
We have been with Alarm Force for two years now. When we were considering what type of protection we wanted, we asked different neighbors who had your security system, if they felt it was good coverage. They did reply that they felt very safe because of the “real” voice that comes on when someone has entered without the code. Now that we have purchased this system, we have had good success for far. There have been a couple of incidents where my family has come into my home and forgotten to shut off alarm, but very quickly the voice comes on, and rectifies the problem right away. So far, we haven’t been charged for this, and we thank you. We had one incident where we were away and our neighbors were watching our home for us. We didn’t know that my sister was going to come to our house, and she did not realize that we had put a security system in our home. So of course, the alarm went off, she panicked and our neighbor, Mike, came to her rescue. The AlarmForce staff was very co-operative and polite when she responded to the phone. I am not often at home by myself, but I do know that I would feel very safe in knowing the alarm is set and I can relax. I would definitely recommend your system to anyone looking for security.
-Omer D. - Alberta -
Thank you very much AlarmForce, we are very satisfied with your service.
-Danielle, ON






