Financial Information
Consolidated Balance Sheets As At October 31, 2009 and 2008
| 2009 | 2008 | |
| ASSETS | ||
| Current | ||
| Cash and cash equivalents | $8,315,792 | $5,408,362 |
| Accounts receivable | 263,291 | 427,342 |
| Inventory (note 4 ) | 3,339,103 | 3,064,025 |
| Prepaid expenses and other assets | 37,612 | 21,796 |
| 11,955,798 | 8,921,525 | |
| Deferred charges (Note 5) | - | 2,730 |
| Future income taxes (note 11) | 840,000 | 464,000 |
| Property, plant and equipment (Note 6) | 17,966,742 | 16,844,560 |
| ntangible assets (Note 7) | 2,310,018 | 3,078,234 |
| $33,072,558 | $29,311,049 | |
| LIABILITIES | ||
| Current | ||
| Accounts payable and accrued liabilities | $3,399,410 | $3,763,078 |
| Unearned revenue | 780,493 | 706,569 |
| Income taxes payable | 897,907 | 491,332 |
| Current portion of long-term debt (Note 8) | 404,167 | 633,333 |
| 5,481,977 | 5,594,312 | |
| Deferred revenue | 3,072,499 | 3,313,343 |
| Long-term debt (Note 8) | 775,001 | 820,834 |
| 9,329,477 | 9,728,489 | |
| SHAREHOLDERS’ EQUITY | ||
| Share capital (Note9) | 12,769,584 | 12,315,685 |
| Contributed Surplus | 128,701 | 202,140 |
| Retained earnings | 10,844,796 | 7,064,735 |
| 23,743,081 | 19,582,560 | |
| $33,072,558 | $29,311,049 | |
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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I am extremely pleased with your service. When I did not notify you that I would be on holiday, you called my son to inform him that I had not turned my alarm off after day 2 and that he should check on me. As a senior, I really appreciate what I refer to as service beyond the call of duty. Thank you.
-Lanadale, ON -
"My 40 year old husband died unexpectedly leaving me alone with my twin 5 year old boys. I was scared to be alone in my house, especially at night. I heard about AlarmForce on the radio and after talking to the friendly and knowledgeable representative I knew this was the company for me. The installer answered all my questions and installation was quick and easy. Thanks AlarmForce for giving me my sense of security back."
-Julie, Blaine MN -
Fantastic in all ways. I tell everyone about you.
-Deb, BC -
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. -
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 -
We enjoy having AlarmForce in our home. It's a superior system that delivers on its promise of a much more affordable price than the other guys.
-Shane, AB -
Thank you very much AlarmForce, we are very satisfied with your service.
-Danielle, ON -
Everyone was courteous and professional. Will recommend your services.
-Diane, OH
