Financial Information
Consolidated Statements of Cash Flows For The Years Ended October 31, 2008 and 2007
| 2008 | 2007 | |
| Operating activities | ||
| Net income for the year | $2,610,585 | $1,280,172 |
| Items not involving cash: | ||
| Amortization: | ||
| Property, plant and equipment | 2,367,729 | 1,922,644 |
| Deferred charges | 8,457 | 9,591 |
| Intangible assets | 866,315 | 822,767 |
| Future income taxes | (677,000) | (542,000) |
| Stock compensation | - | 12,632 |
| 5,176,086 | 3,505,806 | |
| Changes in non-cash components of working capital: | ||
| Accounts receivable | (78,274) | (74,663) |
| Inventory | (159,055) | (764,901) |
| Prepaid expenses and deposits | 2,082 | 16,135 |
| Accounts payable and accrued liabilities | 663,575 | 134,797 |
| Unearned revenue | 40,274 | 91,143 |
| Income taxes | 528,413 | (683,712) |
| Deferred Revenue | 639,614 | 512,433 |
| 1,636,629 | (768,768) | |
| 6,812,715 | 2,737,038 | |
| Investing activities | ||
| Additions to property, plant and equipment | (3,711,467) | (3,357,440) |
| Additions to intangible assets | - | (1,350,001) |
| (3,711,467) | (4,707,441) | |
| Financing activities | ||
| Repayment of fixed rate term loan | (50,000) | (50,000) |
| Decrease in long-term debt | (255,200) | 553,308 |
| Proceeds from issue of share capital | 132,300 | 37,800 |
| (172,900) | 541,108 | |
| Change in cash and cash equivalents | 2,928,348 | (1,429,295) |
| Cash and cash equivalents, beginning of year | 2,480,014 | 3,909,309 |
| Cash and cash equivalents,end of year | $5,408,362 | $2,480,014 |
| Cash and cash equivalents for the Company are as follows: | ||
| Cash | 1,817,174 | 475,303 |
| Cash equivalents | 3,591,188 | 2,004,711 |
| Supplemental cash flow information: | ||
| Interest paid | $90,131 | $102,258 |
| Income taxes paid | $1,456,908 | $2,084,647 |
See accompanying notes to consolidated financial statements.
Ask a Question
Testimonials
-
First time in my life I feel safer!
-Joe, NC -
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 -
We really appreciated how they added us urgently to their schedule for installation because of our distress. Great team.
-Francois, AB -
We find the system very user friendly! We really like the simplicity.
-David, AB -
The alarm allows me to sleep at night without worrying too much. I had a house that had several break-ins, hopefully the AlarmForce tags on my doors and windows will discourage thieves.
-Sandra, BC -
I don't know why anyone would use a different company - excellent product, excellent customer service, excellent price!
-Frank, BC -
Every person I have talked to has been very nice and helpful.
-Matthew, OH -
Wonderful, informed, courteous staff - a credit to your company.
-Jago, ON
