including the expected volatility. Extreme CCTV uses expected volatility rates, which are
Expiry
0.0%
Warrants
Company does not hold or issue financial instruments for trading purposes.
September 12, 2004
400,000
EXTREME CCTV INC.
0.50
400,000
672,250
Price
Foreign currency risk
Expected Volatility
1,102,250
1.50
The
British Pound. No forward contracts were outstanding as at December 31, 2001.
30,000
The Black-Scholes option-pricing model was developed for use in estimating the fair value of
the United Kingdom and are denominated in U.S. dollars and British pounds.
Unrealized gains and losses on outstanding forward contracts and options are not recorded in the
financial statements until completion of the underlying transactions.
Shares
3.25%
approximately $1,424,220.
traded options. The option-pricing models require the input of highly subjective assumptions
(Unaudited)
0.50
The following summarizes outstanding warrants as at December 31, 2002
Expected Option Life in Years
Risk Free Interest Rate
SHARE CAPITAL (Continued)
Number of
April 11, 2004
assumptions can materially affect the fair value estimate, and therefore the existing models
For the three months ended December 31, 2002
10.
Exercise
January 28, 2004
Number of
30,000
(e)
9.
:
Notes to the Interim Consolidated Financial Statements
The Company enters into forward exchange contracts to protect its future Canadian dollar revenues
FINANCIAL INSTRUMENTS
Warrants
Weighted Average Assumptions
options.
$
Date
exchange rates, they also reduce the benefit of favourable changes in exchange rates.
The Company's revenues are primarily generated from customers based in the United States and
do not necessarily provide a reliable single measure of the fair value of Extreme CCTV stock
As at December 31, 2002, the Company had entered into a foreign currency contract expiring June
contractual derivative instruments to reduce its exposure of foreign currency risk related to the
30, 2003 to sell US$900,000. The Company is required to sell US$150,000 per month at various
based on historical volatility rates trended into future years. Changes in the subjective input
rates ranging from 1.5795 to 1.5855. The fair value of the contract as at December 31, 2002 was
The Company has not used foreign exchange futures or other
2.12
672,250
1,102,250
into Canadian dollars. While forward contracts reduce the risk of exposure to adverse change in
and cash flows from the potential adverse impact of unfavourable rates of exchange of U.S. dollars
Expected Dividends
21.19%
<< < [Pag.13]
Esta version es la html del arhivo pdf 03Q1, genearada por domotica.name desde www.extremecctv.com
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