Business
01 Communique Provides Update on Business Developments and Fourth Quarter and Fiscal 2024 Results
Balance Sheet Strengthened with Post Year-End Financing TORONTO, ON / ACCESS Newswire / Ja...
About this update from 01 Quantum Inc.
[{"type":"text","content":"01 Communique Provides Update on Business Developments and Fourth Quarter and Fiscal 2024 ResultsBalance Sheet Strengthened with Post Year-End Financing TORONTO, ON / ACCESS Newswire / January 23, 2025 / 01 Communique Laboratory Inc. (the \"Company\") (TSXV:ONE)(OTC PINK:OONEF), one of the first-to-market, enterprise level cybersecurity providers for the quantum computing era, is pleased to report the Company's fourth quarter and fiscal 2024 results for the period ended October 31, 2024.Andrew Cheung, CEO of the Company, commented, \"Fiscal 2024 has been a transformative year for 01 Communique. We successfully completed several key development projects and recently secured a strategic financing that sets a strong foundation for 2025. Our recent virtual presentation highlighted our commitment to advancing Post Quantum Cryptography (\"PQC\") compliant quantum-safe technologies and expanding our product lineup targeting the end user. In 2025 we expect to see commercialization from our PQC technology, via key partnerships. With our robust roadmap and working capital, we are working to accelerate our growth and bring innovative solutions to the market.\"Andrew Cheung further commented, \"Recently there has been significant interest and advancement in quantum computing. While Google's \"Willow\" processor announcement has drawn significant attention to the power of quantum computers, heralding in the era of quantum superiority \"Q-Day\", we note that other large corporations, government institutions and university research departments are diligently working on their own quantum computing technologies. We believe it would be naive to not expect malevolent actors to turn this power toward cracking current encryption techniques and blockchains. As Q-Day looms, it is still vitally important to be reminded of the immediate threat of \"harvest now, decrypt later\", which underscores the importance of preparing for \"Q-Day\" in advance. We believe that 2025 is the year that corporations and governments need to start preparing for this event. Our IronCAP™ technology and products are ready to go, have been rigorously tested by industry leading corporations as well as successfully coming through two Company sponsored hackathons. We believe that IronCAP™ is up to the task of protecting your data from the power of quantum computers....