01 Communique Re-Files Annual MD&A and Associated Certifications
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. ST: Ontario NI: CPR ELE SOF
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