TORONTO, Jan. 30, 2013 /CNW/ - 01 Communique Ltd. (the "Company") (TSX:ONE)
announced today that it has re-filed its annual certifications and
Management's Discussion and Analysis ("MD&A") for the year ended October 31,
2012. In the original MD&A and certificates the Company had stated that the
Company's management had evaluated the effectiveness of the design and
operation of its disclosure controls and procedures and internal control over
financial reporting and, based on their evaluation, had concluded that the
disclosure controls and procedures and internal controls over financial
reporting are effective. Following an Ontario Securities Commission
continuous disclosure review and a review of applicable securities laws the
Company has amended this conclusion and made a determination that such
controls and procedures and internal controls over financial reporting are not
effective due to the fact that, given the Company's limited staff level,
certain duties within the accounting and finance department cannot be properly
segregated. The Company notes that this deficiency has not resulted in a
material misstatement to the consolidated financial statements. The Company
relies on certain mitigating controls, including periodic substantive review
of the consolidated financial statements by the Chief Executive Officer, Audit
Committee and Board of Directors, however, these mitigating controls do not
eliminate the existence of the material weakness.
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) 795-2888 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, which include the risks associated with its litigation
against Citrix and LogMeIn. 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.
INVESTOR CONTACT: Brian Stringer Chief Financial Officer 01 Communique (905)
795-2888 x204 firstname.lastname@example.org
SOURCE: 01 Communique Laboratory Inc.
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CO: 01 Communique Laboratory Inc.
NI: CPR ELE SOF
-0- Jan/30/2013 22:00 GMT
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