Disclosure Policy
Forward Looking Statements
This website may contain forward-looking statements. All statements other than those of historical fact contained on this website are forward-looking statements. Unitholders can identify many of these statements by looking for words such as "believe", "expects", "will", "intends", "projects", "anticipates", "estimates", "would", "could", "likely", "plans", "forecasts", "continues" or similar words or the negative thereof.There can be no assurance that the plans or expectations on which these forward-looking statements are based will occur. Forward-looking statements are subject to risks, uncertainties and assumptions. Although First National AlarmCap believes that the expectations represented in forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. Various risks could affect future results and could cause results to differ materially from those expressed in the forward-looking statements.
Supplemental Disclosure
The term "EBITDA" in this document is an acronym for "Earnings Before Interest, Taxes, Depreciation and Amortization". EBITDA is not a defined term under Canadian "Generally Accepted Accounting Principles" (GAAP) but the Fund believes that presentation of EBITDA enhances an understanding of financial condition, results of operations and cash flows because EBITDA is used by the Fund to satisfy its debt service obligations, its capital expenditures and other operational needs, as well as to provide funds for customer account growth. In addition, EBITDA is used by lenders and the investment community to determine the current borrowing capacity and to estimate the long-term value of companies with recurring cash flows from operations.Distributable Cash is not a defined term under Canadian GAAP but is determined by the Fund as EBITDA less subscriber replacement costs, interest on debt and sustaining capital expenditures. Management believes that Distributable Cash is a useful measure of performance as it provides investors with an indication of the amount of cash available for distribution to Unitholders. Investors are cautioned, however, that Distributable Cash should not be construed as an alternate to using net earnings as a measure of profitability or the statement of cash flows.
Furthermore, the Fund’s method of calculating Distributable Cash may not be comparable to other similarly named calculations.