ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

ONE 01 Communique Laboratory Inc

0.32
0.05 (18.52%)
24 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
01 Communique Laboratory Inc TSXV:ONE TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.05 18.52% 0.32 0.315 0.34 0.34 0.285 0.295 598,284 18:01:01

01 Communique Provides a Corporate Update and Announces its Third Quarter Fiscal 2019 Results

30/09/2019 9:10pm

PR Newswire (Canada)


01 Communique Laboratory (TSXV:ONE)
Historical Stock Chart


From Dec 2019 to Dec 2024

Click Here for more 01 Communique Laboratory Charts.

TORONTO, Sept. 30, 2019 /CNW/ - 01 Communique Laboratory Inc. (the "Company") (ONE:TSX-V) today reported results for its third quarter of fiscal 2019, which ended July 31, 2019. The loss for the quarter was $168,899 (2018 - $78,948) an increase of $89,951. This is a result of the investment the Company made in developing its Post-Quantum Cryptography ("PQ-Crypto") technology, completing the IronCAP Application Program Interface ("API") allowing vendors the opportunity to incorporate this technology in their products as well as getting ready for the commercial launch of the first of many end user products incorporating this technology, IronCAP X later this year. The Company has completed the period with $698,038 of cash and cash equivalents and a guaranteed investment certificate.  

"I am pleased with the significant progress we made over the past several months," said Andrew Cheung, President and CEO for 01 Communique. "We have completed the IronCAP API and started making it available to vendors. We were recognized by the CIOReview Magazine as editor's choice for the most promising quantum computing solution provider. Looking forward to Q4, we plan on conducting an independent security assessment of our PQ-Crypto technology followed with the hosting of a bounty contest challenging the world to see if anyone can break our technology. We are also planning the commercial launch of IronCAP X, which we believe is the world`s first quantum-safe email encryption system."

Highlights:

  • Major achievements over the past several months:
    • IronCAP was selected as the Editor's Choice Award in a special "Quantum Computing" edition of the CIOReview magazine. CIO Review profiled the "10 Most Promising Quantum Computing Solution Providers" of 2019, and selected IronCAP as the Editor's choice. The editor's choice highlights IronCAP just as the market prepares for quantum computing's arrival known as "quantum advantage".

    • In August we made the IronCAP API available to vendors allowing them the ability to incorporate our technology with their products to build highly secure "post-quantum" systems for blockchain, 5G/IoT, data storage, remote access/VPN, encryption, digital signing etc. using the standard PKCS#11 and OpenPGP formats.

    • We are on schedule for commercial release of IronCAP X later this year. Incorporating the IronCAP post-quantum cryptographic system it is believed to be the world's first quantum-safe email encryption system. The system was demonstrated earlier this year at the Company's shareholder meeting showing how easy it is to send and receive an email that encapsulates IronCAP quantum-safe encryption and digital signing system, providing an end-to-end encrypted message that only the recipient can decrypt and read. 

    • We launched a new web site to showcase our IronCAP technology (www.ironcap.ca). The redesigned web site offers quick and intuitive access to critical information regarding the IronCAP technology and family of products including IronCAP X and offers a significantly improved user experience. The new web site provides IronCAP X beta users the ability to register for a trial of IronCAP X when it is available.

    • The Company engaged the services of an experienced marketing person to lead the roll out of the IronCAP products and services and is in advanced stages of discussion with an experienced business development person to forge alliances to derive revenue from these products and services.

    • Business development meetings are progressing with several leading technology firms with respect to licensing IronCAP Crypto (ICC) and IronCAP X.

    • Assembled the basis of a world class development team and developed an impressive product road map that encompasses a number of new products incorporating the Company's PQ-Crypto technology planned for development after the release of IronCAP X. 

    • Moving forward with the memorandum of understanding signed with Hitachi Solutions Create, Ltd. to undertake a market feasibility study in Japan with respect to the Company's new technology.
  • Strengthening the balance sheet:
    • As previously announced on July 29th, to complete development and effectively launch the IronCAP API and IronCAP X as well as bring on board experienced sales and marketing personnel, the Company completed a private placement raising gross proceeds of $437,000. Pursuant to the offering the Company issued 3,641,665 units ("Units") at a per Unit price of $0.12, with each Unit consisting of one common share in the capital of the Company and one-half of one common share purchase warrant, with each whole warrant exercisable for the purchase of one common share of the Company at a per share price of $0.15 for a period of 24 months from the date of closing of the private placement.

    • The Company's Debenture contains an expiry acceleration clause which was amended to extend the expiration date of the associated warrants such that the exercise period of the warrants after the amendment is now April 24, 2020 (prior to the amendment it was September 10, 2019).

  • Grant of stock options:
    • On September 30, 2019 pursuant to its stock option plan the Company granted stock options to certain directors and executives of the Company to purchase up to an aggregate of 790,000 common shares in the Company. The options were granted on September 30, 2019 and are exercisable at a price of $0.10 per share for a period of four years from the date of grant. The options vest over a period of one year, with 50% vesting on March 31, 2020 and 50% vesting on September 30, 2020. The options, and the shares issuable upon exercise, will be subject to applicable securities and regulatory laws.

About IronCAP:

IronCAP at the forefront of the cyber security market is designed to protect our customers from cyber-attacks. IronCAP's patent-pending cryptographic system is designed to protect users and enterprises against the ever-evolving illegitimate and malicious means of gaining access to their data today as well as in the future with the introduction of powerful quantum computers. Based on improved code-based encryption it is designed to be faster and more secure than current standards. It operates on conventional computer systems so users are protected today while being secure enough to safeguard against future attacks from the world of quantum computers. An IronCAP API, recently released, allows vendors of a wide variety of vertical applications to easily transform their products to ensure their customers are safe from cyber-attacks today and in the future from quantum computers.

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 intended to be 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. Such statements include statements regarding the timing of the release of IronCAP X, the future of quantum computers and their impact on the Company's product offering, the functionality of the Company's products and the intended product lines for the Company's technology, the execution of a memorandum of understanding signed with Hitachi Solutions Create, Ltd., the potential licensing of the Company's technology and the ability to close the proposed financing. 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.

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.

01 Communique Laboratory Inc.
SELECTED FINANCIAL INFORMATION
Interim Consolidated Statements of Financial Position
(Unaudited)
As at July 31, 2019 and December 31, 2018






31-July-19


31-Oct-18





Assets




Current assets




Cash and cash equivalents

$

498,038


$

113,760

Guaranteed investment certificate

200,000


700,000

Accounts receivable

88,707


62,696

Prepaid expenses and other assets

16,480


6,275


803,225


882,731





Plant and equipment

17,393


16,085


$

820,618


$

898,816





Liabilities & Shareholders' Deficit








Current liabilities




Accounts payable and accrued liabilities

$

523,117


$

584,552

Deferred revenue

10,334


8,455

Liability component of debenture

388,031


390,733


921,482


983,740





Shareholders' equity




Share capital

41,403,310


41,186,529

Contributed surplus

5,642,523


5,511,832

Share purchase warrants

581,575


417,700

Agent compensation options

124,164


99,200

Deficit

(47,852,436)


(47,300,185)


(100,864)


(84,924)





Total liabilities and shareholders' deficit

$

820,618


$

898,816

 

01 Communique Laboratory Inc.

SELECTED FINANCIAL INFORMATION

Interim Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

 For the 3 and 9 month periods ended July 31, 2019 and 2018






 for the 3 months ending



for the 9 months ending



31-Jul-19

31-Jul-18


31-Jul-19

31-Jul-18







 Revenue

$

77,555

$

45,439


$

202,275

$

154,092







Expenses (income):






Selling, general and administrative

122,520

77,893


403,669

167,935

Research and development

99,862

23,580


279,040

82,522

Interest

(2,184)

(23)


(4,894)

(41)


220,197

101,450


677,814

250,415

Loss before interest and accretion on






liability component of debenture and taxes

$

(142,642)

$

(56,011)


$

(475,539)

$

(96,323)







Interest on debenture

15,000

15,000


45,000

35,295

Accretion on liability portion of debenture

4,114

4,114


13,411

12,534

(Loss) before taxes

$

(161,756)

$

(75,125)


$

(533,950)

$

(144,152)







Withholding taxes

7,143

3,823


18,301

14,377

(Loss) for the period and comprehensive
loss

$

(168,899)

$

(78,948)


$

(552,251)

$

(158,529)







Basic

$

(0.00)

$

(0.00)


$

(0.01)

$

(0.00)

Diluted

$

(0.00)

$

(0.00)


$

(0.01)

$

(0.00)







Weighted average number of common
shares






Basic

76,624,733

66,543,807


76,563,386

66,543,807

Diluted

76,624,733

66,543,807


76,563,386

66,543,807

 

01 Communique Laboratory Inc.
SELECTED FINANCIAL INFORMATION
Interim Consolidated Statements of Cash Flows
(Unaudited)
For the 3 and 9 month periods ended July 31, 2019 and 2018







three months ending



nine months ending



31-Jul-19

31-Jul-18


31-Jul-19

31-Jul-18

Cash provided by (used in):












Operating activities:






Income (Loss) for the period

$

(168,899)

$

(78,948)


$

(552,251)

$

(158,529)

Adjustments to reconcile the loss for






the period to net cash flows from






operating activities






Depreciation

1,241

282


3,937

1,065

Stock-based compensation

31,082

11,884


114,578

22,799

Accretion on liability portion of debenture

4,114

4,114


13,411

12,534

Interest income

(2,184)

(23)


(4,894)

(41)

Change in non-cash working capital

(37,146)

(4,847)


(95,772)

(39,366)


(171,792)

(67,538)


(520,991)

(161,538)

Interest income received

2,184

23


4,894

41


(169,608)

(67,515)


(516,097)

(161,497)







Financing activities:






Proceeds from guaranteed investment
certificate

150,000



500,000


Private placement

405,620



405,620

-

Investing activities:






Purchase of capital assets

-

(692)


(5,245)

(3,087)

Increase (decrease) in cash

386,012

(68,207)


384,278

(164,584)







Cash and cash equivalents, beginning of period

112,026

142,199


113,760

238,576

Cash and cash equivalents, end of period

$

498,038

$

73,992


$

498,038

$

73,992













 Cash and cash equivalents comprise:






 Demand deposits

$

200,000

$

-




 Cash

298,038

73,992





$

498,038

$

73,992




 

SOURCE 01 Communique Laboratory Inc.

Copyright 2019 Canada NewsWire

1 Year 01 Communique Laboratory Chart

1 Year 01 Communique Laboratory Chart

1 Month 01 Communique Laboratory Chart

1 Month 01 Communique Laboratory Chart

Your Recent History

Delayed Upgrade Clock