XPEL Technologies Corp.

Annual Report:

Income Statement: As of Dec. 31 Thou. US Dollar	2007	2006
Revenues	5,857	3,393
Cost & exps.	6,422	4,607
Depr. & amort.	231	96
Fgn. currency transl.	7
Write-off of intangible assets		100
Interest exp.	34	40
Income tax	(19)
Net income	(824)	(1,451)
Share earns. basic	($0.03)	($0.07)
Share earns. diluted	($0.03)	($0.07)

Balance Sheet: As of Dec. 31 Thou. US Dollar	2007	2006
Assets:
Cash	735	31
Accts. rec., net	769	316
Inventories	448	170
Other curr. assets	178	50
Tot. curr assets	2,131	567
Net property	558	406
Intangibles	962
Goodwill	3,293
Deposits	53	70
Total assets	6,997	1,043
Liabilities:
Bank indebtedness	21
Accts. pay. & accruals	1,429	593
Loans pay.		250
Defr. revenue	70	103
Curr debt. mat.	370	70
Tot. curr. liabs.	1,899	1,016
Long-term debt	206	194
Com. stk. p.$0.001	6,487	2,261
Paid-in cap.	722	474
Other stkhldrs equity	1,125
Retained earns.	(3,725)	(2,901)
Total liabs.	6,997	1,043