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01 Communique Reports Results for Third Quarter Fiscal 2013

TORONTO, Sept. 5, 2013 /CNW/ - 01 Communique Laboratory Inc. (ONE:TSX) today 
announced results for its third quarter 2013 which ended July 31, 2013. The 
loss for the third quarter 2013 was $584,941 compared to $697,693 in 2012 a 
decrease of $112,852. Excluding non-cash expenses for stock-based compensation 
and depreciation the adjusted loss for the third quarter 2013 was $235,187 
compared to $271,456 in 2012. The Company completed the quarter with 
$3,566,150 of cash and cash equivalents. 
"The cash operating expenses to run our business, excluding the costs 
associated with intellectual property revenue, were reduced for the third 
quarter to approximately $400,000," said Andrew Cheung, President and CEO for 
01 Communique. "Reducing expenses to this level still allowed us to continue 
with development of a competitive product offering and continue to vigorously 
defend our intellectual property rights against LogMeIn Inc. and Citrix 
Systems Inc. Going forward, we will continue with these two main objectives." 
Citrix Litigation Update - 
On May 8, 2013 a hearing took place in front of the United States Patent and 
Trademark Office's ("USPTO") Patent Trial and Appeal Board ("PTAB") in respect 
of the Citrix Systems Inc. ("Citrix") appeal of the results of the inter 
partes re-examination of our United States patent number 6,928,479 ("'479 
Patent") which Citrix had requested. We are now waiting for the PTAB to 
render their written report. We are confident in the merits of our case and 
believe the PTAB will uphold the validity of the '479 Patent. Previously the 
jury in the LogMeIn lawsuit upheld the validity of the 479 Patent as did the 
USPTO patent examiner in the Right of Appeal Notice ("RAN") and the Examiner's 
Report filed last year as part of the appeal process. 
LogMeIn Appeal Update - 
We disagree with the jury's finding of non-infringement in the LogMeIn Inc. 
("LogMeIn") case and, as previously announced, on June 26, 2013 we filed a 
notice of appeal with the United States Court of Appeal for the Federal 
Circuit (Appeal Nos. 2013-1479). LogMeIn has filed a cross appeal, (Case No. 
2013-1525) in respect of the Court Order concluding that our patent was valid 
and enforceable. Their cross appeal has been consolidated with our appeal. As 
part of the appeal process we filed our Appeal Brief with the Federal Circuit 
on August 26, 2013. We are confident in the merits of our appeal. 
Financial Highlights - 


    --  Revenue for the third quarter 2013 was $729,860 compared to
        $582,440 for the same period in 2012, an increase of $147,420
        primarily a result of increased revenue from licensing
        intellectual property. Revenue from intellectual property for
        the third quarter 2013 was $669,500 (2012 - $500,000).
    --  Cash operating expenses which exclude stock-based compensation
        and depreciation were $965,254 for the third quarter 2013
        compared to $857,185 in 2012 an increase of $108,069 primarily
        a result of an increase in expenses relating to intellectual
        property revenue.
    --  Excluding expenses related to intellectual property revenue of
        $568,442 (2012 - $425,000), cash operating expenses for the
        third quarter 2013 were $396,812 compared to 2012 of $432,185 a
        reduction of $35,373.

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) 795-888 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. 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 Statements of Financial Position
                                                                     
                                                          31-Jul-13                            31-Oct-12
                                                                                                        

Assets                                                                                                  

Current assets:                                                                                         
    Cash and cash equivalents                        $    3,566,150                         $  4,547,375
    Accounts receivable                                                                          282,981
                                                             41,837
    Prepaid expenses and other                                                                    35,676
    assets                                                   69,080
                                                                                               4,866,032
                                                          3,677,067
                                                                                                        

Property and equipment                                                                            17,261
                                                             17,961
                                                     $    3,695,028                         $  4,883,293
                                                                                                        

Liabilities and Shareholders'                                                                           
Equity
                                                                                                        

Current liabilities:                                                                                    
    Accounts payable and                             $    1,117,028                        $     407,770
    accrued liabilities
    Deferred revenue                                                                                    
                                                             25,916                               34,596
                                                                                                        
                                                          1,142,944                              442,366
                                                                                                        

Shareholders' equity:                                                                                   
    Share capital                                                                                       
                                                         39,997,277                           39,566,407
    Contributed surplus                                                                                 
                                                          4,384,066                            3,752,710
    Agent options                                                                                       
                                                            111,780                              248,400
    Deficit                                                                                            
                                                       (41,941,039)                         (39,126,590)
                                                          2,552,084                                     
                                                                                               4,440,927
                                                     $    3,695,028                         $  4,883,293
                                                       01 Communique Laboratory Inc.
                                                  SELECTED FINANCIAL INFORMATION
                          Consolidated Statements of Operations and Comprehensive Income
                             For the 3 and 9 month periods ended July 31, 2013 and 2012
                                 for the 3 months ending                  for the 9 months ending
                             31-Jul-13            31-Jul-12               31-Jul-13     31-Jul-12

Revenue                       $729,860             $582,440              $1,096,299      $753,812

Cost of                                                                                          
revenue                            -                     38                     -             261
                               729,860              582,402               1,096,299              
                                                                                          753,551
                                                                                                 

Expenses                                                                                         
(income)

Selling,                       530,394              614,430               1,306,409              
general and                                                                             1,622,145
administrative

Patent                         568,442              425,000               1,965,542              
enforcement &                                                                             425,000
re-examination
expenses

Research and                   216,172              244,092                 657,864              
development                                                                               737,567

Interest                         (207)                                     (19,067)              
                                                    (3,327)                              (12,221)
                             1,314,801            1,280,195               3,910,748              
                                                                                        2,772,491
                                                                                                 

Loss for the                 (584,941)            (697,793)             (2,814,449)             
period and                                                                            (2,018,940)
comprehensive
loss
                                                                                                 

Loss per                                                                                         
common share

Basic                        $ (0.009)                  $                $  (0.043)            $ 
                                                    (0.012)                               (0.033)

Diluted                      $ (0.009)                  $                       $              $ 
                                                    (0.012)                 (0.043)       (0.033)
                                                                                                 

Weighted                                                                                         
average number
of common
shares

Basic                       65,203,807           60,636,502              65,080,948              
                                                                                       60,428,803

Diluted                     65,203,807           60,636,502              65,080,948              
                                                                                       60,428,803
                                                      01 Communique Laboratory Inc.
                                                 SELECTED FINANCIAL INFORMATION
                                            Consolidated Statements of Cash Flows
                            For the 3 and 9 month periods ended July 31, 2013 and 2012
                                                                          
               three months ending                           nine months                        
                                                                  ending
                         31-Jul-13          31-Jul-12          31-Jul-13               31-Jul-12

Cash                                                                                            
provided by
(used in):
                                                                                                

Operating                                                                                       
activities:

Loss for the       $     (584,941)   $      (697,793)   $    (2,814,449)        $    (2,018,940)
period

Adjustments                                                                                     
to reconcile
the loss

for the
period to
net cash
flows from

operating                                                                                       
activities:

Depreciation                                    1,538                                           
                             1,754                                 5,657                   7,099

Stock-based                348,000                                                       925,507
compensation                                  424,799            631,356

Interest                                                                                       
income                       (207)            (3,327)           (19,067)                (12,221)

Change in                                                                              (217,898)
non-cash                   (1,303)             87,633            908,318
working
capital 
                                                                                     (1,316,453)
                         (236,697)          (187,150)        (1,288,185)

Interest                                                                                  12,221
income                         207              3,327             19,067
received
                                                                                     (1,304,232)
                         (236,490)          (183,823)        (1,269,118)
                                                                                                

Financing                                                                                       
activities:

Issue of                                                                                 375,450
common                         -              275,450            294,250
shares

Investing                                                                                       
activities:

Purchase of                                                                                    
capital                      (572)              (665)            (6,357)                 (1,455)
assets

Increase                                       90,962                                  (930,237)
(decrease)               (237,062)                             (981,225)
in cash
                                                                                                

Cash and                                                                               3,121,417
cash                     3,803,212          2,100,218          4,547,375
equivalents,
beginning of
period

Cash and           $     3,566,150     $    2,191,180     $    3,566,150         $     2,191,180
cash
equivalents,
end of
period
                                                                          
                                                                          
                                                                          







SOURCE  01 Communique Laboratory Inc. 
INVESTOR CONTACT: Brian Stringer Chief Financial Officer 01 Communique (905) 
795-2888 x204 brian.stringer@01com.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/September2013/05/c4440.html 
CO: 01 Communique Laboratory Inc.
ST: Ontario
NI: CPR ELE SOF ERN  
-0- Sep/05/2013 11:30 GMT
 
 
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