TORONTO, Dec. 18, 2013 /CNW/ - 01 Communique Laboratory
Inc. (TSX: ONE) today announced results for its fourth quarter 2013
which ended October 31, 2013. The
loss for the fourth quarter 2013 was $357,631 compared to $505,399 in 2012 a decrease of $147,768. Excluding non-cash expenses for
stock-based compensation and depreciation the adjusted loss for the
fourth quarter 2013 was $271,899
compared to $295,991 in 2012. The
Company completed the year with $3,072,281 of cash and cash equivalents.
"The cash operating expenses to run our
business, excluding the costs associated with intellectual
property, were $403,456 for the
fourth quarter 2013 and we expect them to continue at approximately
this level for the first quarter 2014 at which time they will be
re-evaluated," said Andrew Cheung,
President and CEO for 01 Communique. "With expenses at this level
we believe we will be able to continue with development of a
competitive product offering while carrying on with our patent
lawsuits against LogMeIn Inc. ("LogMeIn") and Citrix Systems Inc.
("Citrix")."
Citrix Litigation Update -
On October 29, 2013 the Patent Trial
and Appeals Board ("PTAB") rendered their decision affirming the
Examiner's finding of validity of our patent number 6928479 (the
"'479 Patent") in respect of Citrix's appeal of the results of the
inter partes reexamination of the '479 Patent. The appeal process
is now complete at the United States Patent and Trademark Office
("USPTO") and we have written to the Court requesting that the stay
be lifted so that we can proceed to trial.
Background on the Citrix litigation:
On February 2, 2006, a lawsuit was
filed by the Company in the United States District Court, Northern
District of Ohio, Eastern
Division, against Citrix alleging infringement of the '479 Patent.
As part of the litigation Citrix requested an inter partes
reexamination of the '479 Patent by the USPTO, and also requested a
stay in the Court proceedings. The stay was granted by the Judge in
the case. The Company proceeded with the reexamination process and
in July 2010 received a Right of
Appeal Notice ("RAN") from the USPTO confirming the patentability
of the claims that were part of the inter partes reexamination.
Citrix appealed that decision to the USPTO's PTAB. The PTAB has now
rendered their decision affirming the validity of the '479 Patent.
Citrix has appealed that decision to the
United States Court of Appeal for the Federal Circuit and
that appeal is now in process. We are confident that we will
prevail in this appeal as well.
LogMeIn Appeal Update -
We disagree with the jury's finding of non-infringement in the
LogMeIn case and, as previously announced, on June 26, 2013 we filed a notice of appeal with
the United States Court of Appeal
for the Federal Circuit (Appeal Nos. 2013-1479). LogMeIn has filed
a cross appeal, (Case No. 2013-1525) in respect of the Court Order
concluding that our patent was valid and enforceable. Their cross
appeal has been consolidated with our appeal. To date all briefs
that are due at this point in time have been filed by both parties.
The appeal is in process and we remain confident in the merits of
our appeal.
The Toronto Stock Exchange has not reviewed and
does not accept responsibility for the adequacy or the accuracy of
this release.
About 01 Communique
Established in 1992, 01 Communique Laboratory Inc. (TSX: ONE)
offers a suite of remote access services designed for small-medium
sized business, mobile professionals and IT service providers. 01's
software as a service offerings are deployed on-demand and include
functionality enabling on-line meetings, remote computing and IT
support. 01's suite of products includes its remote access offering
I'm InTouch (www.imintouch.com), its online meeting offering
(www.imintouchmeeting.com) and its remote support offering I'm
OnCall (www.imoncall.com) products are protected in the
U.S.A. by its patents #6928479 /
#6938076 / #8234701 and in Canada by its patents #2309398 / #2309398 and
Japan by its patent #4,875,094.
For more information, visit www.01com.com or call (905) 795-888 or
(800) 668-2185 (North America
only).
Cautionary Note Regarding Forward-looking
Statements.
Certain statements in this news release may constitute
"forward-looking" statements which involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the company, or industry results, to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. When used in this news release, such statements use
such words as "may", "will", "expect", "believe", "plan", "intend",
"are confident" and other similar terminology. These statements
reflect current expectations regarding future events and operating
performance and speak only as of the date of this news
release. Forward-looking statements involve significant risks
and uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved.
A number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including, but not limited to, the factors discussed under "Risk
Factors" in the company's Annual Information Form filed on SEDAR.
Although the forward-looking statements contained in this news
release are based upon what management of the Company believes are
reasonable assumptions, the company cannot assure investors that
actual results will be consistent with these forward looking
statements. These forward-looking statements are made as of the
date of this news release, and the company assumes no obligation to
update or revise them to reflect new events or circumstances.
01 Communique Laboratory Inc.
SELECTED FINANCIAL INFORMATION
Consolidated Statements of Financial Position
|
|
|
|
|
|
|
|
|
|
31-Oct-13 |
|
|
31-Oct-12 |
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
3,072,281 |
|
$ |
4,547,375 |
|
Accounts receivable |
|
|
225,007 |
|
|
282,981 |
|
Prepaid expenses and other assets |
|
|
36,073 |
|
|
35,676 |
|
|
|
3,333,361 |
|
|
4,866,032 |
|
|
|
|
|
|
|
Property and equipment |
|
|
17,816 |
|
|
17,261 |
|
|
$ |
3,351,177 |
|
$ |
4,883,293 |
|
|
|
|
|
|
|
Liabilities and Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
$ |
1,048,164 |
|
$ |
407,770 |
|
Deferred revenue |
|
|
24,582 |
|
|
34,596 |
|
|
|
1,072,746 |
|
|
442,366 |
|
|
|
|
|
|
|
Shareholders' equity: |
|
|
|
|
|
|
|
Share capital |
|
|
39,997,277 |
|
|
39,566,407 |
|
Contributed surplus |
|
|
4,468,044 |
|
|
3,752,710 |
|
Agent options |
|
|
111,780 |
|
|
248,400 |
|
Deficit |
|
|
(42,298,670) |
|
|
(39,126,590) |
|
|
|
2,278,431 |
|
|
4,440,927 |
|
|
$ |
3,351,177 |
|
$ |
4,883,293 |
01 Communique Laboratory Inc.
SELECTED FINANCIAL INFORMATION
Consolidated Statements of Operations and Comprehensive
Income
For the 3 and 12 month periods ended October 31, 2013 and 2012
|
|
|
|
|
|
|
for the 3 months ending |
|
for the 12 months ending |
|
|
|
31-Oct-13 |
|
|
31-Oct-12 |
|
|
31-Oct-13 |
|
|
31-Oct-12 |
Revenue |
|
$ |
161,810 |
|
$ |
179,702 |
|
$ |
1,258,109 |
|
$ |
933,514 |
Cost of revenue |
|
|
7,502 |
|
|
11 |
|
|
7,502 |
|
|
272 |
|
|
|
154,308 |
|
|
179,691 |
|
|
1,250,607 |
|
|
933,242 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses (income) |
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative |
|
|
353,425 |
|
|
509,760 |
|
|
1,659,834 |
|
|
2,131,905 |
Patent enforcement & re-examination
expenses |
|
|
39,039 |
|
|
45,031 |
|
|
2,004,581 |
|
|
470,031 |
Research and development |
|
|
135,763 |
|
|
137,602 |
|
|
793,627 |
|
|
875,169 |
Interest |
|
|
(16,288) |
|
|
(7,303) |
|
|
(35,355) |
|
|
(19,524) |
|
|
|
511,939 |
|
|
685,090 |
|
|
4,422,687 |
|
|
3,457,581 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period and comprehensive loss |
|
$ |
(357,631) |
|
$ |
(505,399) |
|
$ |
(3,172,080)) |
|
$ |
(2,524,339) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss per common share |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
$ (0.01) |
|
|
$ (0.01) |
|
|
$ (0.05) |
|
|
$ (0.04) |
Diluted |
|
|
$ (0.01) |
|
|
$ (0.01) |
|
|
$ (0.05) |
|
|
$ (0.04) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
65,203,807 |
|
|
63,393,415 |
|
|
65,112,751 |
|
|
61,095,941 |
Diluted |
|
|
65,203,807 |
|
|
63,393,415 |
|
|
65,112,751 |
|
|
61,095,941 |
01 Communique Laboratory Inc.
SELECTED FINANCIAL INFORMATION
Consolidated Statements of Cash Flows
For the 3 and 12 month periods ended October 31, 2013 and 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
for the 3 months
ending |
|
for the 12
months ending |
|
|
|
31-Oct-13 |
|
|
31-Oct-12 |
|
|
31-Oct-13 |
|
|
31-Oct-12 |
Cash provided by (used in): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period |
|
$ |
(357,631) |
|
$ |
(505,399) |
|
$ |
(3,172,080) |
|
$ |
(2,524,339) |
Adjustments to reconcile the
loss
for the period to net cash flows from |
|
|
|
|
|
|
|
|
|
|
|
|
operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
1,754 |
|
|
1,631 |
|
|
7,411 |
|
|
8,730 |
Stock-based compensation |
|
|
83,978 |
|
|
207,777 |
|
|
715,334 |
|
|
1,133,284 |
Interest income |
|
|
(16,288) |
|
|
(7,303) |
|
|
(35,355) |
|
|
(19,524) |
Change in non-cash working
capital |
|
|
(220,361) |
|
|
(428,290) |
|
|
687,957 |
|
|
(646,188) |
|
|
|
(508,548) |
|
|
(731,584) |
|
|
(1,796,733) |
|
|
(2,048,037) |
Interest income received |
|
|
16,288 |
|
|
7,303 |
|
|
35,355 |
|
|
19,524 |
|
|
|
(492,260) |
|
|
(724,281) |
|
|
(1,761,378) |
|
|
(2,028,513) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
Issue of common shares |
|
|
- |
|
|
3,083,688 |
|
|
294,250 |
|
|
3,459,139 |
Investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of capital assets |
|
|
(1,609) |
|
|
(3,212) |
|
|
(7,966) |
|
|
(4,668) |
Increase (decrease) in cash |
|
|
(493,869) |
|
|
2,356,195 |
|
|
(1,475,094) |
|
|
1,425,958 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents,
beginning of period |
|
|
3,566,150 |
|
|
2,191,180 |
|
|
4,547,375 |
|
|
3,121,417 |
Cash and cash equivalents, end of
period |
|
$ |
3,072,281 |
|
$ |
4,547,375 |
|
$ |
3,072,281 |
|
$ |
4,547,375 |
|
|
|
|
SOURCE 01 Communique Laboratory Inc.