Image Sensing Systems, Inc. (ISNS) 2019年年度报告「NASDAQ」.pdf

1、ANNUALREPORT2019IN ALL SUCCESSFUL BUSINESSES THE KEY TO SUCCESS RELIES ON MANAGEMENTS ABILITY TO MASTER THREE FUNDAMENTALS:COMMITMENT TO CUSTOMERCLEAR VISION OF GOALSCORRECT TIMING OF ACTIONSOUR SENIOR MANAGEMENT TEAM KNOWS,UNDERSTANDS AND LIVES BY THESE BUSINESS FUNDAMENTALS.MANAGEMENT DISCUSSION A

2、ND ANALYSIS Annual Report December 31,2019 1 PREFACE This Management Discussion and Analysis(MD&A)comments on Imaflex Inc.s(the“Parent Company”)operations,financial performance,financial condition,future outlook and other matters for the three-month periods and years ended December 31,2019 and 2018.

3、Unless otherwise indicated,the terms“Imaflex”,“Company”,“Corporation”,“we”,“our”,and“us”all refer to Imaflex Inc.,together with its divisions Canguard Packaging and Canslit,along with its wholly owned subsidiary,Imaflex USA Inc.All intercompany balances and transactions have been eliminated on conso

4、lidation.This MD&A also provides information to improve the readers understanding of the accompanying audited consolidated financial statements and related notes.It should be read together with our audited consolidated financial statements for the years ended December 31,2019 and 2018.Unless otherwi

5、se indicated,all financial data in this document was prepared in accordance with International Financial Reporting Standards(“IFRS”),as issued by the International Accounting Standards Board(“IASB”)and all amounts in tables are expressed in thousands of Canadian dollars unless otherwise indicated.Di

6、fferences may occur due to rounding of amounts.We also use financial measures that are not defined by IFRS.Please refer to the section entitled“Non-IFRS Financial Measures”for a complete description of these measures.This MD&A was reviewed by Imaflexs Audit Committee and approved by the Board of Dir