Exhibit 21

SUBSIDIARIES OF THE REGISTRANT

Colt Defense’s subsidiaries as of December 31, 2011 are listed below. Colt Finance Corp. does not have any subsidiaries.

SUBSIDIARIES

	Percent Owned Directly or Indirectly		State or Country of Organization or Incorporation
Colt Canada Corporation	100	%	Canada
Colt Finance Corp.	100	%	Delaware