01 Communique Reports Results for Second Quarter Fiscal 2013

TORONTO, June 5, 2013 /CNW/ - 01 Communique Laboratory Inc. (ONE:TSX) today announced results for its second quarter 2013 which ended April 30, 2013. The loss for the second quarter 2013 was $1,169,030 compared to $615,312 in 2012 an increase of $553,718 due primarily to the costs incurred for the LogMeIn Inc. ("LogMeIn") patent lawsuit of $688,000. Excluding non-cash expenses for stock-based compensation and depreciation, and the costs of the LogMeIn lawsuit the loss for the second quarter 2013 becomes $378,701 compared to $395,040 in 2012. The Company completed the quarter with $3,803,212 of cash and cash equivalents.

"During the second quarter our patent litigation against LogMeIn concluded with a jury verdict finding our patent was valid but that LogMeIn did not infringe," said Andrew Cheung, President and CEO for 01 Communique. "We disagree with the jury finding of non-infringement and are seeking to have their finding overturned by the district court where the case was heard. We are waiting for the judge to render his decision. Should our efforts in this regard be unsuccessful then we plan to appeal to the United States Court of Appeals for the Federal Circuit. We believe in the merits of our appeal."

"Going forward, our plan is to continue development of our suite of products as we strive to maintain our competitiveness," said Andrew Cheung. "We will also continue to vigorously defend our intellectual property rights as we have been doing against LogMeIn and Citrix Systems Inc. ("Citrix"). We have reduced our operating expenses to conserve our cash resources and at the same time allow us to carry on with these two objectives."

Citrix Litigation Update -
On May 8, 2013 a hearing took place in front of the United States Patent and Trademark Office's ("USPTO") Patent Trial and Appeal Board ("PTAB") in respect of the Citrix appeal of the results of the inter partes re-examination of our United States patent number 6,928,479 ("'479 Patent") which Citrix had requested. The hearing is the last step in the appeal process at the PTAB and we are now waiting for them to render their written report, which we expect to receive within the next few months. We are confident in the merits of our case and believe the PTAB will uphold the validity of the '479 Patent just as the jury did in the LogMeIn lawsuit and the USPTO patent examiner did in the Right of Appeal Notice ("RAN") and the Examiner's Report filed last year as part of the appeal process.

Financial Highlights -

  • Operating expenses for the second quarter 2013 were $1,369,785 compared to $722,733 in 2012 an increase of $647,032.
  • Cash operating expenses which exclude stock-based compensation and depreciation were $1,267,436 for 2013 compared to $502,461 in 2012 an increase of $764,975. Excluding patent enforcement and re-examination costs, the cash operating expenses for the second quarter 2013 were $449,043 compared to 2012 of $502,461 a reduction of $53,418.
  • Cash operating expenses have been further reduced and net of patent enforcement and re-examination costs are expected to be approximately $400,000 for the third quarter 2013.

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 patent #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.
Consolidated Statements of Financial Position
  30-Apr-13 31-Oct-12
Current assets:    
    Cash and cash equivalents $    3,803,212 $  4,547,375
    Accounts receivable                                    283,836                                   282,981
    Prepaid expenses and other assets                                     94,590                                      35,676
                                 4,181,638                                4,866,032
Property and equipment                                      19,143                                      17,261
  $    4,200,781 $  4,883,293
Liabilities and Shareholders' Equity    
Current liabilities:    
    Accounts payable and accrued liabilities $    1,384,597 $     407,770
    Deferred revenue                                      27,159                                      34,596
                                  1,411,756                                   442,366
Shareholders' equity:    
   Share capital                              39,997,277                              39,566,407
   Contributed surplus                                4,036,066                                3,752,710
   Agent options                                   111,780                                   248,400
   Deficit                            (41,356,098)                            (39,126,590)
                                 2,789,025                                4,440,927
  $    4,200,781 $  4,883,293

01 Communique Laboratory Inc.
Consolidated Statements of Operations and Comprehensive Income
For the 3 and 6 month periods ended April 30, 2013 and 2012
  for the 3 months ending   for the 6 months ending
  30-Apr-13 30-Apr-12   30-Apr-13 30-Apr-12
Revenue $  191,964 $  103,284   $  366,439 $  171,372
Cost of revenue                        -                        82                         -                      223
              191,964             103,202               366,439              171,149
Expenses (income):          
Selling, general and administrative             343,236             474,932               776,015           1,007,714
Patent litigation and re-examination              818,393                        -              1,397,100                        -  
Research and development              208,136              247,802               441,692              493,476
Interest                 (8,771)                 (4,219)                (18,860)                 (8,894)
            1,360,994             718,514            2,595,947           1,492,296
Loss for the period and comprehensive loss         (1,169,030)            (615,312)           (2,229,508)         (1,321,147)
Loss per common share          
Basic $   (0.018)           $   (0.010)          $   (0.034)          $   (0.022)
Diluted $   (0.018)           $   (0.010)         $   (0.034)      $   (0.022)
Weighted average number of common shares          
Basic        65,012,745        60,216,489          65,019,357         60,163,712
Diluted       65,012,745       60,216,489          65,019,357         60,163,712

01 Communique Laboratory Inc.
Consolidated Statements of Cash Flows
For the 3 and 6 month periods ended April 30, 2013 and 2012
  three months ending     six months ending  
  30-Apr-13 30-Apr-12   30-Apr-13 30-Apr-12
Cash provided by (used in):          
Operating activities:          
   Loss for the period $    (1,169,030) $   (615,312)   $   (2,229,508) $  (1,321,147)
  Adjustments to reconcile the loss for          
the period to net cash flows from operating activities          
     Depreciation                  1,829                  2,206                3,903                  5,561
     Stock-based compensation                    100,500             218,066           283,356              500,708
     Interest income                       (8,771)               (4,218)            (18,860)                 (8,893)
   Change in non-cash working capital                                                                    564,366          (227,484)            909,621              (305,531)
               (511,106)          (626,742)        (1,051,488)         (1,129,302)
Interest income received                        8,771                4,218              18,860                   8,893
                (502,335)           (622,524)        (1,032,628)           (1,120,409)
Financing activities:          
    Issue of common shares                    189,750            100,000            294,250              100,000
Investing activities:          
    Purchase of capital assets                         (452)                 (649)              (5,785)                   (790)
Increase (decrease) in cash              (313,037)          (523,173)           (744,163)           (1,021,199)
Cash and cash equivalents, beginning of period                 4,116,249         2,623,391          4,547,375           3,121,417
Cash and cash equivalents, end of period $    3,803,212 $  2,100,218   $   3,803,212 $    2,100,218





SOURCE: 01 Communique Laboratory Inc.

For further information:

Brian Stringer
Chief Financial Officer
01 Communique
(905) 795-2888 x204


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