(Source: Canada Newswire)
TORONTO, Sept. 10 /CNW/ - 01 Communique Laboratory Inc. (TSX:ONE) today announced results for its third quarter fiscal 2009, which ended July 31st. Revenue for the quarter was $120,617 with an operating loss of $250,983 or $0.005 per share compared to revenue of $84,116 with an operating loss of $346,835 or $0.007 per share for the same period in 2008. On a year to date basis revenue was $343,718 with a loss of $887,496 or $0.017 per share compared to revenue of $343,845 with a loss of $856,261 or $0.017 per share for 2008. We completed the quarter with $1,089,387 of cash and cash equivalents.
"During the third quarter we were able to reduce our operating expenses and as a result reduce our operating loss," said Andrew Cheung, President and CEO for 01 Communique. "In addition, we made progress with our patent re-examination process as part of our patent litigation against Citrix Systems Inc. On August 19th we received a non-final Office Action Closing Prosecution from the United States Patent and Trademark Office ("USPTO") in which 4 claims were found to be patentable. All we need is one claim to be found valid and infringed. Progress was also made during the quarter towards building revenue from our direct sales efforts. Subsequent to the end of the quarter, on September 1st, Hitachi in Japan announced the release of the latest version of DoMobile. Updates are provided below."
Hitachi Update:
On September 1st, Hitachi Business Solution announced that the new version of DoMobile CSE Ver.2.7 will be released in Japan on September 25th. The new version incorporates Intel Corporation's vPro technology thereby enhancing DoMobile's remote wake-up functionality, which utilizes our patent-pending remote wake up technology. This improves the remote power management of their office PC's, most importantly allowing remote resetting of any PC or Server even if it is "frozen" i.e. blue screen. DoMobile is marketed in Japan, under a license agreement with the Company, as a secure remote access solution for businesses to support their mobile computing needs, as well as a continuity solution for the possibility of a flu pandemic, and as part of the infrastructure required for cloud-computing.
Patent Re-examination Update:
On August 19th, the USPTO issued an Office Action Closing Prosecution (non-final) in which 4 claims were found to be patentable. The company is confident that the outcome of the re- examination process will be the affirmation of the validity of asserted claims of the '479 patent as originally issued. A copy of the Office Action is available from the USPTO's web site at http:// portal.uspto.gov/external/portal/pair. The application number is 95/ 001018.
The background of our case against Citrix is as follows. In February, 2006 we commenced legal action against Citrix for infringement of our patent. A copy of the court pleading is on our web site. A claim construction hearing, commonly referred to as a Markman Hearing, was held in November 2006. The claim construction order establishes the meaning of the patent claims terms in dispute between the parties. In the Order, the judge adopted the construction asserted by the Company for 19 of the 20 disputed terms. In March 2008, approximately one month before the trial was scheduled to commence, the judge issued a memorandum and order staying the case pending re-examination of the patent by the USPTO.
Financial Highlights:
Operating expenses for third quarter 2009 were $370,591 compared to $429,263 for the same period in 2008. The majority of the decrease is due to expenses incurred in the third quarter 2008 for the patent re-examination process. The cash operating expenses to run our business for the fourth quarter 2009 are expected to be approximately $400,000.
