December 16, 2016 / 12:45 PM / in a year

BRIEF-AlarmForce announces decision to restate certain historical financial statements

Dec 16 (Reuters) - Alarmforce Industries Inc

* Alarmforce - to provide details of affected residential contracts,amount of restated revenue,expenses in 2016 financial statements

* Alarmforce announces decision to restate certain historical financial statements and provides update on status of Q3 filings

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

* Company does not anticipate any change in dividend policy at this time Source text for Eikon: Further company coverage:

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