Financial Information
Consolidated Statements of Cash Flows 13 For The Years Ended October 31, 2009 and 2008
| 2009 | 2008 | |
| Operating activities | ||
| Net income for the year | $ 3,780,061 | $ 2,610,585 |
| Items not involving cash: | ||
| Amortization: | ||
| Property, plant and equipment | 2,425,581 | 2,367,729 |
| Deferred charges | 2,730 | 8,457 |
| Intangible assets | 885,936 | 866,315 |
| Future income taxes | (376,000) | (677,000) |
| 6,718,308 | 5,176,086 | |
| Changes in non-cash components of working capital: | ||
| Accounts receivable | 164,051 | (78,274) |
| Inventory | (275,078) | (159,055) |
| Prepaid expenses and other assets | (15,816) | 2,082 |
| Accounts payable and accrued liabilities | (363,668) | 663,575 |
| Unearned revenue | 73,924 | 40,274 |
| Income taxes | 406,575 | 528,413 |
| Deferred Revenue | (240,844) | 639,614 |
| (250,856) | 1,636,629 | |
| 6,467,452 | 6,812,715 | |
| Investing activities | ||
| Additions to property, plant and equipment | (3,547,763) | (3,711,467) |
| Additions to intangible assets | (117,720) | - |
| (3,665,483) | (3,711,467) | |
| Financing activities | ||
| Repayment of fixed rate term loan | (45,832) | (50,000) |
| Repayment of revolving demand loan | (229,167) | (255,200) |
| Proceeds from issue of share capital | 491,400 | 132,300 |
| Purchase of shares for cancellation | (110,940) | - |
| 105,461 | (172,900) | |
| Change in cash and cash equivalents | 2,907,430 | 2,928,348 |
| Cash and cash equivalents, beginning of year | 5,408,362 | 2,480,014 |
| Cash and cash equivalents,end of year | $8,315,792 | $5,408,362 |
| Cash and cash equivalents for the Company are as follows: | ||
| Cash | 4,615,635 | 1,817,174 |
| Cash equivalents | 3,700,157 | 3,591,188 |
| $8,315,792 | $ 5,408,362 | |
| Supplemental cash flow information: | ||
| Interest paid | $70,103 | $90,131 |
| Income taxes paid | $ 1,878,168 | $ 1,456,908 |
See accompanying notes to consolidated financial statements.
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Testimonials
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On my way home today around 12:15 p.m., I received a call from AlarmForce advising me that my alarm had alerted them to a possible break-in. Since no one should be at home at this time, they called the police. They told me that the police should arrive in approximately five minutes. Upon my arrival, I discovered the front door was open and AlarmForce advised it would be best not to go into the house until the police arrived. In about 20 minutes my cell phone rang and it was AlarmForce checking to see if all was okay. I advised them that the police had not arrived but that I would like to go into my house. They so kindly stayed on the phone with me during my entry and while I checked out the house. They also were kind enough to make the call back to the police advising them it was a false alarm. I just want to say thank you to the phone attendant and to AlarmForce. It would have been very frightening if I would have had to go into the house alone. It was a comfort just having someone on the phone with me. I truly appreciate the service you provide us.
-Sandy C. -
Very satisfied and sleep securely at night. Thank you.
-F. W. -
Very happy from first call to install. The people in the call department very helpful. New installer very good. Nothing but impressed.
-Bill, AB -
We have had our alarm system for many years now and have not had any problems. When we have set off the alarm, the reps I have dealt with have been wonderful.
-Bob, BC -
I enjoyed the fact that when I called to notify of a vacation, your rep was actually cheery and didn't make me feel like I was wasting her time. A very nice woman.
-Corenna, BC -
We have only set our alarm off once by accident. Rep was great. As far as we know we have not had any attempted break-ins and have not been broken into since AlarmForce was installed.
-Ivan & Mary F. -
I am more than satisfied with your product, service, technical support and feel safe - that is the most important fact. P.S. I love your television advertising too!
-Brenda, AB -
Neil was very helpful, friendly and professional.
-Ana, ON
