Industry News

TMCNet:  01 Communique Announces its First Quarter Fiscal 2019 Results

[March 07, 2019]

01 Communique Announces its First Quarter Fiscal 2019 Results

TORONTO, March 7, 2019 /CNW/ - 01 Communique Laboratory Inc. (ONE:TSX-V) today announced results for its first quarter fiscal 2019, which ended January 31, 2019. The Company's loss for the first quarter 2019 was $187,309 (2018 - $38,179) an increase of $142,772 which is a result of the investment we are making in transitioning our business and development of our new Post-Quantum Cryptography ("PQ-Crypto") technologies. We completed the period with $612,294 of cash and cash equivalents and guaranteed investment certificate.

"During the first quarter we continued and made significant inroads in the development of our PQ-Crypto technologies," said Andrew Cheung, President and CEO for 01 Communique. "We are on track to release the first beta product incorporating our patent-pending cryptographic system this summer followed by a commercial launch in the fall. We are extremely excited about the prospects for our first new product which is an email/file encryption and digital signing system targeted at consumers as well as businesses of all sizes. Unlike other secure email offering in the market that store their users' email and require recipients to read the messages from their servers, our offering delivers end-to-end encrypted messages to the recipients that only they can decrypt and read. This eliminates a central target point of cyber attack. We believe this will be the world's first secure quantum-safe email system powered by our PQ-Crypto technology,"

About our PQ-Crypto technologies:

Our invention, as described in our previously announced United States patent application Nos. 16/268,098 of January 2019, relates generally to cryptographic systems and methods.  It is a unique cryptographic system that is not only safe from malicious attacks from Quantum Computers in the future but it can also be implemented on today's classical computer systems to safeguard them from malicious attacks that are present in today`s environment. Its application is very broad. Solution vendors of many industries such as email encryption, file encryption, digital signature, blockchain implementation, remote access / VPN, credit card security, cloud storage, password management, etc can easily transform their solutions to safeguard against the threat in the post-quantum world of computing.  The email/file encryption and digital signature product described above is one of these vertical applications that we are implementing and offering as a commercial product by ourselves.

A new branding and web site will be announced at our Annual General Meeting coming soon on April 24, 2019 with a preview of the new product.

Neither TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About 01 Communique

Established in 1992, 01 Communique Laboratory Inc. (TSX-V: ONE) has always been at the forefront of technology. The Company's legacy business provides its customers with a suite of secure remote access services and products. In early 2018 the Company began transitioning its business focusing on cybersecurity with the development and implementation of Post-Quantum Cryptography and Post-Quantum Blockchain technologies, which can be implemented on classical computer systems as we know them today while at the same time secure enough to safeguard against potential Quantum Computer attacks. The Company's legacy products are protected in the U.S.A. by its patents #6,928,479 / #6,938,076 / #8,234,701; in Canada by its patents #2,309,398 / #2,524,039 and in Japan by its patent #4,875,094. For more information visit the Company's web site at www.01com.com

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 and Uncertainties" in the company's Management`s Discussion and Analysis document 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

Interim Consolidated Statements of Financial Position

(Unaudited)

As at January 31, 2019 and December 31, 2018







31-Jan-19


31-Oct-18





Assets




Current assets




Cash and cash equivalents

$

62,294


$

113,760

Guaranteed investment certificate

550,000


700,000

Accounts receivable

81,599


62,696

Prepaid expenses and other assets

6,946


6,275


700,839


882,731





Plant and equipment

16,083


16,085


$

716,922


$

898,816





Liabilities & Shareholders' Deficit








Current liabilities




Accounts payable and accrued liabilities

$

546,538


$

584,552

Deferred revenue

8,403


8,455

Liability component of debenture

395,268


390,733


950,209


983,740





Shareholders' equity




Share capital

41,186,529


41,186,529

Contributed surplus

5,503,667


5,464,721

Share purchase warrants

400,000


400,000

Agent compensation options

99,200


99,200

Equity portion of Debenture

64,811


64,811

Deficit

(47,487,494)


(47,300,185)


(233,287)


(84,924)

Total liabilities and shareholders' deficit

$

716,922


$

898,816

 

01 Communique Laboratory Inc.

SELECTED FINANCIAL INFORMATION

Interim Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

For the 3 month periods ended January 31, 2019 and 2018





three months ending



31-Jan-19


31-Jan-18





 Revenue

$

50,035


$

34,844





Expenses (income):




Selling, general and administrative

130,013


34,475

Research and development

84,249


23,774

Interest

(797)


(8)


213,464


58,241

Loss before interest and accretion on




liability component of debenture and taxes

$

(163,429)


$

(23,397)





Interest on debenture

15,000


10,000

Accretion on liability portion of debenture

4,535


8,420

(Loss) before taxes

$

(182,964)


$

(41,817)





Withholding taxes

4,345


2,720

(Loss) for the period and comprehensive loss

$

(187,309)


$

(44,537)

 

Earnings per common share




Basic

$

(0.00)


$

(0.00)

Diluted

$

(0.00)


$

(0.00)





Weighted average number of common shares




Basic

76,543,807


66,543,807

Diluted

76,543,807


66,543,807

 

01 Communique Laboratory Inc.
SELECTED FINANCIAL INFORMATION
Interim Consolidated Statements of Cash Flows
(Unaudited)
For the 3 month periods ended January 31, 2019 and 2018





three months ending




31-Jan-19


31-Jan-18

Cash provided by (used in):








Operating activities:




Income (Loss) for the period

$

(187,309)


$

(44,537)

Adjustments to reconcile the loss for the period




 to net cash flows from operating activities




Depreciation

1,402


443

Stock-based compensation

38,946


5,915

Accretion on liability portion of debenture

4,535


8,420

Interest income

(797)


(8)

Change in non-cash working capital 

(57,640)


(31,738)


(200,863)


(61,505)

Interest income received

797


8


(200,066)


(61,497)





Financing activities:




Proceeds from guaranteed investment
certificate

150,000


-

Investing activities:




Purchase of capital assets

(1,400)


(1,760)

Increase (decrease) in cash

(51,466)


(63,257)





Cash and cash equivalents, beginning of period

113,760


238,576

Cash and cash equivalents, end of period

$

62,294


$

175,319

 

SOURCE 01 Communique Laboratory Inc.


[ Back To The Blockchain Domain's Homepage ]


FEATURED RESOURCE


Social media is impacting the value of your cryptocurrency. This cross-platform audit will show how to improve consumer and influencer sentiment.

CONTACT US