01 Communique Reports Fourth Quarter 2009 Results
"During fiscal 2009 we continued with our three part plan to build our company," said
Patent Litigation Update -
All submissions have been made in response to the
The background of our case against Citrix is as follows. In February, 2006 we commenced legal action against Citrix for infringement of our patent. A copy of the court pleading is on our web site. A claim construction hearing, commonly referred to as a Markman Hearing, was held in
On
Direct Sales Update -
Our products continue to win awards. For the third year in a row we were awarded the TMC Communications Solutions - Product of the Year Award.
We are building new products based on our patented technology and are on time to announce a new on-line meeting product in our second quarter of fiscal 2010. This new offering will allow users the ability to conduct on-line meetings anywhere in the world. This represents new markets for us and provides us the opportunity to increase our subscriber base and revenue.
Hitachi Update -
A new version has been launched and we are now waiting for the results of Hitachi's sales and marketing initiatives.
During the year we completed a new version of DoMobile (DoMobile CSE Ver.207) which was released in
Financial Highlights -
Operating expenses for the year were
Operating expenses for the fourth quarter were
We completed the year with cash and cash equivalents of
In the fourth quarter fiscal 2009 cash decreased by
Subsequent Event -
On
The
About 01 Communique
Established in 1992, 01 Communique (TSX: ONE) is an innovative force in the development and delivery of remote access and support products and integrated communications software. 01's suite of products includes its remote access product line I'm InTouch (www.imintouch.net) and its remote support product I'm OnCall (www.imoncall.com). For more information on its products, visit www.01com.com or call (905) 795-2888 or (800) 668-2185 (
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 Balance Sheets October 31, 2009 and October 31, 2008 31-Oct-09 31-Oct-08 -------------- -------------- Assets Current assets Cash and cash equivalents $ 922,091 $ 1,974,658 Accounts receivable 77,148 65,363 Prepaid expenses and other assets 34,552 42,695 -------------- -------------- 1,033,791 2,082,716 Capital assets 31,672 41,099 -------------- -------------- $ 1,065,463 $ 2,123,815 -------------- -------------- -------------- -------------- Liabilities & Shareholders' Equity Current liabilities Accounts payable & accruals $ 535,515 $ 334,392 Deferred revenue 86,896 86,251 -------------- -------------- 622,411 420,643 Shareholders' equity Share capital 30,326,144 30,514,944 Contributed surplus 1,364,035 669,453 Share purchase warrants 37,556 113,751 Agent options 18,874 371,288 Shareholder loans - (57,600) Deficit (31,303,558) (29,908,664) -------------- -------------- 443,052 1,703,172 -------------- -------------- $ 1,065,463 $ 2,123,815 -------------- -------------- -------------- -------------- 01 Communique Laboratory Inc. SELECTED FINANCIAL INFORMATION Consolidated Statements of Operations and Comprehensive Income For the 3 and 12 month periods ended October 31, 2009 and 2008 For the three months ended For the years ended 31-Oct-09 31-Oct-08 31-Oct-09 31-Oct-08 -------------------------- -------------------------- Revenue $ 70,632 $ 70,449 $ 414,350 $ 414,294 Cost of revenue 783 2,213 5,150 5,891 -------------------------- -------------------------- 69,849 68,236 409,200 408,403 Expenses (income) Selling, general and administrative 266,212 195,061 888,204 779,591 Patent litigation & re-examination expenses 174,782 72,704 191,324 161,620 Research and development 100,397 128,325 683,963 721,518 Interest (3,258) (6,654) (7,849) (81,073) Depreciation and amortization 3,113 1,389 12,451 5,598 -------------------------- -------------------------- 541,246 390,826 1,768,093 1,587,254 -------------------------- -------------------------- Loss for the period and comprehensive loss (471,397) (322,590) (1,358,893) (1,178,851) -------------------------- -------------------------- Loss per common share Basic $ (0.01) $ (0.01) $ (0.03) $ (0.03) Diluted $ (0.01) $ (0.01) $ (0.03) $ (0.03) Weighted average number of common shares Basic 51,403,507 51,720,207 51,556,840 51,476,130 Diluted 51,403,507 51,720,207 51,556,840 51,476,130 01 Communique Laboratory Inc. Consolidated Statements of Cash Flows For the 3 and 12 month periods ended October 31, 2009 and 2008 For the three months ended For the years ended 31-Oct-09 31-Oct-08 31-Oct-09 31-Oct-08 -------------------------- -------------------------- Cash provided by (used in): Operating activities: Loss for the period $ (471,397) (322,590) $(1,358,893) $(1,178,851) Items not involving cash: Depreciation and amortization 3,113 1,389 12,451 5,598 Stock-based compensation 10,439 14,875 98,773 24,000 Change in non-cash working capital 290,550 60,074 198,126 142,673 -------------------------- -------------------------- (167,295) (246,252) (1,049,543) 1,006,580 Financing activities: Issue of common shares - - - 117,961 Investing activities: Purchase of capital assets - (6,060) (3,024) (22,993) -------------------------- -------------------------- Increase (decrease) in cash (167,295) (252,312) (1,052,567) (911,612) -------------------------- -------------------------- Cash and cash equivalents, beginning of period 1,089,387 2,226,970 1,974,658 2,886,270 -------------------------- -------------------------- Cash and cash equivalents, end of period $ 922,092 $ 1,974,658 $ 922,091 $ 1,974,658 -------------------------- -------------------------- -------------------------- --------------------------
For further information: INVESTOR CONTACT: Brian Stringer, Chief Financial Officer, 01 Communique, (905) 795-2888 x204, [email protected]
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