December 16, 2016 / 12:10 PM / in 2 years

BRIEF-AlarmForce to restate certain historical financial statements

Dec 16 (Reuters) - AlarmForce Industries Inc

* Intends to restate its financial statements for year ended October 31, 2015 and first and second quarters of 2016

* AlarmForce Industries Inc says aggregate amount of revenue that was incorrectly earned is not expected to exceed $3.5m for those periods

* AlarmForce Industries - believes that its current liquidity and cash flow is sufficient to fund cost of the ongoing review and its expansion plans

* AlarmForce Industries-historical financial statements,related MD&A for years ended October 31, 2013, 2014, 2015 & Q1, Q2 2016 should not be relied upon

* AlarmForce Industries -will be required to cancel up to 3,400 subscribers as at Q3 2016 for subscribers who should have been cancelled in prior periods

* AlarmForce - expects to be able to provide details of number of affected residential contracts, amount of restated revenue and expenses when it reports

* Company does not anticipate any change in dividend policy at this time

* AlarmForce announces decision to restate certain historical financial statements and provides update on status of Q3 filings Source text for Eikon: Further company coverage:

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