Financial Information
8. LIQUIDITY AND CAPITAL RESOURCES (continued)
Financing activities
The Company is authorized to issue an unlimited number of common shares. The changes in the issued common shares of the Company during 2007 and 2006 were as follows:
| Number of shares | Value $ | |
| Balance, October 31, 2006 | 12,088,788 | $12,145,585 |
| Issued during the period | 10,000 | 37,800 |
| Balance, Oct. 31, 2007 and Jan. 12, 2008 | 12,098,788 | 12,183,385 |
The Company is committed to issuing 190,000 common shares under options that were outstanding at the end of the 2007 fiscal year (200,000 at the end of the 2006 fiscal year). Exercise prices under the options and the remaining life of options are summarized below.
| Expiry Date | Number of shares | Remaining contractual life (years) |
Exercise Price |
| July 17, 2009 | 190,000 | 1.75 | $3.78 |
Dividend policy
The Company does not currently have a policy of declaring or paying dividends on its common shares and intends to retain future earnings for use in its wireless alarm system business and does not anticipate paying dividends in the foreseeable future. Any determination to pay any future dividends will remain at the discretion of the Board of Directors of the Company and will be made based on the financial condition and other factors deemed relevant by the Board of the Directors. The Company has not paid any dividends since its incorporation.
The existing cash reserves, cash from home alarm security operations and credit facilities are believed to be adequate to finance growth as well as operating requirements in the foreseeable future. Debt and equity components for the years 2005-2007 are summarized below.
Long-term debt
| 2007 | 2006 | 2005 | |
| $ | $ | $ | |
| Building Loan | 920,834 | 970,834 | - |
| Revolving term loans | 838,535 | 285,228 | 945,721 |
| Total long-term debt | 1,759,369 | 1,256,062 | 945,721 |
| Equity (capital stock and retained earnings) | 16,839,675 | 15,521,703 | 13,678,912 |
| Ratio of Net debt to Equity | 0.10 | 0.08 | 0.07 |
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Testimonials
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"Why security systems? If we read the papers, local and otherwise, we unfortunately know the answer. Why AlarmForce? When I recently heard about my neighbor 6 doors down having THEIR door kicked in, I knew it was time for me to investigate security systems and providers. AlarmForce had been on my radar, as a friend had signed up with them. I happily joined "The Force" when I heard about the monthly price plus AlarmForce would work with my cell phone since I don't have a land line. My experience: Quick response a couple of times when my handman guy came by and was he surprised!!! When the day comes for real, whether at night sleeping or when I'm away from home, I know someone's watching my investment! Thanks!"
-Bob, Minneapolis, MN -
Hi my name is Maryanne, we have had AlarmForce in our home for around 5 years , a few years back my husband was out of town and it was my birthday and a few friends took me out on the town to celebrate and one girlfriend stayed the night with me in the house we turned the alarm on and went out after many glasses of wine we went back to my house my girlfriend and I walked in the house and never turned the alarm on ,Well, the alarm goes off and the operator says " AlarmForce identify yourself " I say ( very inebriated ) " It's Me!!" lol this went on till my friend intercepted and asked me "what's your password"!!! Thank God that gentleman operator was patient, kind and obviously had a sense of humor and shut the alarm off and enough compassion. Not to call the police and embarrass myself further was a blessing. Recently another alarm company wanted us to switch I said "No, they know me at AlarmForce"!!!
-Maryanne T - Okotoks, AB -
AlarmForce is a very good basic home system at a low price. The price is lower than the previous provider I was using. I do not get the same coverage in the house. The house remains wired for that coverage, but AlarmForce is not capable to use the existing wiring. I am happy with the service I am getting. The installation went very well and the tech was very helpful in allowing us to decide on where to mount motion detectors and which doors to alarm. I will continue to use AlarmForce. It was my brother that recommended AlarmForce to me.
-Scott E. - Okotoks, AB -
Fantastic in all ways. I tell everyone about you.
-Deb, BC -
I was sceptical at first but I am relieved to have this system in my home. I feel safe when I'm away that you're on the job. I feel safe when at home alone and any boo boo I make you're right there. No matter how stupid I've been the person that comes through the box is my life line and is always professional. I highly recommend this to everyone I talk to.
-Denise, AB -
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 -
We were having trouble with our door alarm and it was going off without reason. In one way it was annoying as Alarmforce kept calling us, but it was good to know they were protecting our home. Alarmforce corrected the problem and the problem stopped. I have accidentally set of the alarm myself, but the Alarm Force personnel were extremely patient with me and I am glad that they were there. Thanks Alarm Force, your staff is amazing and I have already recommended you to other people including my sister-in-law who lives alone and feels very secure now knowing she has the two-way voice in case of emergency.
-Brenda M.- Edmonton, AB -
We have had your service for more than 15 years and are more than pleased. Your service technicians in the Barrie area have been great.
-G & M, ON
