/01 Communique Provides a Corporate Update and Announces its Third Quarter Fiscal 2019 Results (via Qpute.com)

01 Communique Provides a Corporate Update and Announces its Third Quarter Fiscal 2019 Results (via Qpute.com)


“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.”

  • Major achievements over the past several months:
    • Strengthening the balance sheet:
    • Grant of stock options:

    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.

    ONE.V) 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” data-reactid=”23″>Established in 1992, 01 Communique Laboratory Inc. (ONE.V) 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

    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.

    ” data-reactid=”30″>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.

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