Financial Information
Consolidated Balance Sheets As At October 31, 2008 and 2007
| 2008 | 2007 | |
| ASSETS | ||
| Current | ||
| Cash and cash equivalents | $5,408,362 | $2,480,014 |
| Accounts receivable | 427,342 | 349,068 |
| Income taxes recoverable | - | 37,081 |
| Inventory | 3,064,025 | 2,904,970 |
| Prepaid expenses and other assets | 21,796 | 23,878 |
| 8,921,525 | 5,795,011 | |
| Deferred charges (Note 3) | 2,730 | 11,187 |
| Future income taxes (note 9) | 464,000 | - |
| Property, plant and equipment (Note 4) | 16,844,560 | 15,500,818 |
| ntangible assets (Note 5) | 3,078,234 | 3,944,555 |
| $29,311,049 | $25,251,571 | |
| LIABILITIES | ||
| Current | ||
| Accounts payable and accrued liabilities | $3,763,078 | $3,099,503 |
| Unearned revenue | 706,569 | 666,295 |
| Income taxes payable | 491,332 | - |
| Current portion of long-term debt (Note 6) | 300,000 | 305,202 |
| 5,260,979 | 4,071,000 | |
| Deferred revenue | 3,313,343 | 2,673,729 |
| Long-term debt (Note 6) | 1,154,167 | 1,454,167 |
| Future income taxes (Note 9) | 213,000 | 213,000 |
| 9,728,489 | 8,411,896 | |
| SHAREHOLDERS’ EQUITY | ||
| Share capital (Note 7) | 12,315,685 | 12,183,385 |
| Contributed Surplus | 202,140 | 202,140 |
| Retained earnings | 7,064,735 | 4,454,150 |
| 19,582,560 | 16,839,675 | |
| $29,311,049 | $25,251,571 | |
See accompanying notes to consolidated financial statements.
Approved on behalf of the Board:
Joel Matlin, Director
Peter Silverberg, Director
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Testimonials
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First time in my life I feel safer!
-Joe, NC -
I needed help after install but help was great.
-Jerry, OH -
I am very pleased with the alarm system. Thieves broke in through a smashed in back door. The two way voice must have scared them off because they only took one thing and left a laptop sitting right on a table. Thanks to the system my valuables were saved.
-John, GA -
I have had alarm Force for well over a year. I have been lucky that nothing bad has happened. But it's the peace of mind knowing I am protected. My payment is reasonable and well worth it. and the nice thing is that my payment is deducted right out of the bank monthly. This saves me the hassle of remembering to send it every month. Thank You Alarm Force for giving a sense of security. which we all need these days
-Jane, MN -
I have recommended AlarmForce to all my friends - very happy with it.
-Nancy, BC -
I was very pleased with the courtesy extended to me.
-William. QC -
The Tech that was sent was great in not only setting up our system, but he answered every question that we had for him. Not too many companies left out there that really know all about their product, but Alarm Force certainly does. He made us feel not as though we were just a sale, but rather a member of the Alarm Force Family. We are a family of four, Mom, Dad and two children. Both children are special needs as they both have Autism. Not only do we feel safer with the Alarm Force running at night or when we are away, but with the chime on the door alerts us when anyone goes out, and this is a VERY GOOD thing because we can now keep track of both of our children, and they cannot run off. Thank you again Alarm Force. We love the service that you provide, and the price is the best in the business.
-Doug, NC -
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
