05Q1 18 | Biblioteca seguridad extremecctv

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

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

Notes to the Interim Consolidated Financial Statements

Foreign currency risk

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

31, 2005 to sell $1,860,000 US. The Company is required to sell $175,000 US per month at

purposes.

FINANCIAL INSTRUMENTS

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

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

(Unaudited)

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

$1.23 from January until June and $135,000 US per month at $1.23 from July until December of

On December 23, 2004, the Company entered into foreign currency contracts expiring December

EXTREME CCTV INC.

For the three months ended December 31, 2004

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

2005. The fair value of the contracts as at December 31, 2004 was approximately $2,287,800.