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01 Communique Laboratory : Announces its First Quarter Fiscal 2018 Results

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03/19/2018 | 03:23pm CET

TORONTO - 01 Communique Laboratory Inc. (ONE: TSX-V) today announced results for its first quarter fiscal 2018, which ended January 31, 2018.

The Company's loss for the quarter was $44,537 (2017 - $97,763). The adjusted loss for the first quarter, which excludes non-cash expenses for stock-based compensation and depreciation, was $38,179 (2017 - $44,174). The Company completed the quarter with $175,319 of cash and cash equivalents. 'We remain committed to our plan of continuing operations while we pursue our appeal of the Citrix Systems Inc. ('Citrix') lawsuit until its conclusion,' said Andrew Cheung, President and CEO for 01 Communique. 'With respect to the appeal with Citrix, a hearing took place at the United States Court of Appeals for the Federal Circuit on February 8, 2018. We are now waiting for the Court of Appeals to render their decision on our request for a new trial.'

An Update on the Company's Operations follows

The Company reduced its operating expenses significantly in January 2016 as it prepared to work through the appeal process in its patent litigation against Citrix. In addition to moving forward with the appeal process the Company continued to work with Hitachi Solutions Create, Ltd. as well as make its products available from its web site. Substantially all development work had been completed on the products that the Company licenses and with respect to the appeal process the Company relies on its lawyers and hence minimal internal resources are required. Accordingly the Company was able to significantly reduce its expenses. The Company makes use of third party contractors for the development and support of its products as required. Revenue for the first quarter 2018 was $34,844 (2017 - $7,631) an increase of $27,213. The majority of this increase is due to an increase in royalty revenue received for the Company's share of revenue received from third parties for the sale of DoMobile in Japan by Hitachi Solutions Create, Ltd. Cash operating expenses, which exclude stock based compensation and depreciation, for the first quarter 2018 were $51,883 which is fairly consistent with first quarter 2017 of $37,762 an increase of $14,121. There were no patent enforcement and re-examination expenses for the first quarter 2018 (2017 - nil). Patent enforcement and re-examination expenses have fluctuated in prior years with the level of activity in respect of the Company's patent litigation and the re-examination requested by Citrix. With respect to the Citrix litigation, expenses have reached a cap and the Company's lawyers are now responsible for such expenses for which they are to be reimbursed out of proceeds of settlement or an award of damages, if any. As previously announced, on January 31, 2018 the Company entered into an agreement to amend the terms of its $400,000 principal amount of debentures (the 'Debentures') and 800,000 common share purchase warrants (the 'Warrants') that were issued on April 24, 2015. Before the amendment the Debentures bore interest at a rate of 10% per annum, had a term of 36 months expiring on April 24, 2018 and the Warrants were exercisable into one common share in the capital of 01 Communique at any time until April 24, 2018 at an exercise price of $0.21 per Common Share. Under the terms of the amendment the rate of interest on the Debentures increased to 15% effective April 25, 2018 and the maturity date is extended to April 24, 2019. Furthermore, effective January 31, 2018 the Warrant exercise price is decreased to $0.10 and the expiry date is extended to April 24, 2019.

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.

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 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.


Tel: (905) 795-2888

(C) 2018 Electronic News Publishing, source ENP Newswire

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Financials ($)
Sales 2018 2 871 M
EBIT 2018 856 M
Net income 2018 480 M
Finance 2018 231 M
Yield 2018 -
P/E ratio 2018 28,91
P/E ratio 2019 25,40
EV / Sales 2018 4,43x
EV / Sales 2019 4,25x
Capitalization 12 952 M
Duration : Period :
Citrix Systems Technical Analysis Chart | CTXS | US1773761002 | 4-Traders
Technical analysis trends CITRIX SYSTEMS
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 21
Average target price 92,6 $
Spread / Average Target -2,7%
EPS Revisions
David James Henshall President, Chief Executive Officer & Director
Robert M. Calderoni Executive Chairman
Andrew H. Del Matto Chief Financial Officer & Executive Vice President
Godfrey R. Sullivan Lead Independent Director
Murray J. Demo Independent Director
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