Business
01 Communique Provides Update on Business Developments and Third Quarter Fiscal 2022 Results
TORONTO, ON / ACCESSWIRE / September 15, 2022 / 01 Communique Laboratory Inc. (the "Company"...
About this update from 01 Quantum Inc.
[{"type":"text","content":"01 Communique Provides Update on Business Developments and Third Quarter Fiscal 2022 ResultsTORONTO, ON / ACCESSWIRE / September 15, 2022 / 01 Communique Laboratory Inc. (the \"Company\") (TSXV:ONE)(OTCQB:OONEF), one of the first-to-market, enterprise level cybersecurity providers for the quantum computing era, is pleased to report the Company's third quarter fiscal 2022 results, which ended July 31, 2022.Andrew Cheung, CEO of 01 Communique, stated, \"I am pleased with the progress we made to date and look forward to the rest of the year. We have had a very busy year and coincidently many major projects are coming together at the same time. We completed the working Proof-of-Concept (\"PoC\") for what we believe to be the World's First Quantum-Safe Blockchain. We plan on having it ready to demonstrate to our partner for use as a Quantum-Safe Wallet as well as filing a patent application related to the invention by the end of September of this year. We also moved closer to completing our IronCAP X™ business edition. We plan to have it ready for commercial use by the end of October of this year. Last but not least, the integration with one of our partner's military-grade Hardware Security Module (HSM) announced in February earlier this year is also in its completion stage. We will keep our investors posted on the progress of these developments.\"Highlights:Revenue for the quarter was $236,002 (2021 - $211,831) and year to date $782,637 (2021 - $722,324). The trend of working from home continues to be popular in Asia-Pacific which is contributing to the acceptance of the Company's remote access business in that market. The Company receives recurring royalties from the Company's Asia-Pacific remote access business whereby DoMobile, a secure remote access solution, is exclusively marketed by the Company's partner in Japan. In addition, development fees were recognized in 2022 for the completed portion of the Quantum-Safe Blockchain project.The loss for the quarter was $190,242 (2021 - $228,762) and year to date $480,762 (2021 - $406,278). The Company is continuing with its investment in the development and commercialization of its IronCAP™ technology.The adjusted loss for the quarter was $135,374 (2021 - $156,135) and year to date $334,044 (2021 - $264,233). The adjusted loss excludes stock-based compensation and depreci...