TORONTO, March 31, 2017 /CNW/ - 01 Communique Laboratory Inc. (ONE:TSX-V) today announced results for its first quarter fiscal 2017, which ended January 31, 2017. The loss and comprehensive loss for the quarter was $97,763 (2016 - $455,506). The adjusted loss, which excludes non-cash expenses for stock-based compensation and depreciation, was $46,352 (2016 - $314,171). The Company completed the period with $116,477 of cash and cash equivalents.   

"We remain committed to our plan of continuing operations as well as pursuing the matter with Citrix Systems Inc. ("Citrix") until its conclusion," said Andrew Cheung, President and CEO for 01 Communique. "With respect to the lawsuit with Citrix, on March 21, 2017 the District Court presiding over the proceedings issued its order denying our motion for judgment as a matter of law and for a new trial. On March 30, 2017 we filed a Notice to Appeal this order with the United States Court of Appeals for the Federal Circuit. We remain confident in the merits of our appeal."  

An Update on the Company's Operations follows:

In addition to moving forward with the appeal process in its patent lawsuit against Citrix the Company plans to continue and work with Hitachi Solutions Create Ltd. to maximize potential revenue from the Japanese market. The Company reduced operating expenses significantly last year while still maintaining sufficient resources to meet these objectives. To assist in achieving this expense reduction the Company's executive management and board of directors continue to not draw a salary.

Operating expenses for first quarter 2017 were $91,359 (2016 - $452,214). Excluding non cash expenses for stock based compensation and depreciation the cash operating expenses for first quarter 2017 were $37,770 (2016 - $307,769) a reduction of $269,999. In addition the Company paid $10,000 (2016 - $10,000) interest on its debenture.

Background on the Company's patent lawsuit against Citrix:

In February 2006, the Company commenced a lawsuit in the United States District Court, Northern District of Ohio, Eastern Division, against Citrix alleging infringement by their GoToMyPC product line of the '479 Patent. On January 11, 2016 a jury trial commenced in the lawsuit with the jury reaching and returning a unanimous verdict on January 19, 2016. The Court entered Judgment as follows:

1. Defendants Citrix have not infringed claims 24 or 45 of 01 Communique's patent (United States Patent No. 6,928,479);
2. Claims 24 and 45 of United States Patent No. 6,928,479 are not invalid;
3. Plaintiff 01 Communique takes no damages from Citrix;
4. Except as set forth above or adjudicated through Summary Judgment, all other claims and counterclaims in this matter were dismissed;
5. On March 7, 2016 the Company filed post-trial motions with the District Court that presided over the trial. These included motions for renewed judgment as a matter of law and for a new trial.
6. On March 21, 2017 the District Court issued its order denying the Company's motion for judgment as a matter of law and for a new trial.
7. On March 30, 2017 the Company filed a Notice to Appeal the District Court's Order with the United States Court of Appeals for the Federal Circuit. The Company is now working through this process and while the Company is confident in the merits of its appeal there can be no assurance that the Company will be successful in its appeal.

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.

About 01 Communique

Established in 1992, 01 Communique Laboratory Inc. (TSX-V: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 #6,928,479 / #6,938,076 / #8,234,701 and in  Canada by its patents #2,309,398 / #2,524,039 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.
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Consolidated Statements of Financial Position
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01 Communique Laboratory Inc.
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Consolidated Statements of Operations and Comprehensive Income
For the 3 month periods ended January 31, 2017 and 2016
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01 Communique Laboratory Inc.
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Consolidated Statements of Cash Flows
For the 3 month periods ended January 31, 2017 and 2016
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SOURCE 01 Communique Laboratory Inc.

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