04Q1 14 | Biblioteca seguridad extremecctv

foreign currency risk related to the British Pound. Subsequent to the quarter end, the Company

the United Kingdom and are denominated in U.S. dollars and British pounds.

EXTREME CCTV INC.

of exchange of U.S. dollars into Canadian dollars. While forward contracts reduce the risk of

at $1.36. The fair value of the contracts as at December 31, 2003 was approximately $1,224,000.

For the three months ended December 31, 2003

(Unaudited)

purposes.

Canadian dollar revenues and cash flows from the potential adverse impact of unfavourable rates

in exchange rates. The Company does not hold or issue financial instruments for trading

exposure to adverse change in exchange rates, they also reduce the benefit of favourable changes

FINANCIAL INSTRUMENTS

Ł75,000 at $2.30 at the end of each quarter, ending at December 31, 2004.

Unrealized gains and losses on outstanding forward contracts and options are not recorded in the

From time to time, the Company enters into forward exchange contracts to protect its future

As at December 31, 2003, the Company had entered into foreign currency contracts expiring

The Company's revenues are primarily generated from customers based in the United States and

Foreign currency risk

Notes to the Interim Consolidated Financial Statements

As at December 31, 2003 and December 31, 2002, the Company did not have any outstanding

financial statements until completion of the underlying transactions.

foreign exchange futures or other contractual derivative instruments to reduce its exposure of

entered into forward currency contracts to sell Ł300,000. The Company is required to sell

September 30, 2004 to sell US$900,000. The Company is required to sell US$100,000 per month