01 Communique Reports Results for Second Quarter Fiscal 2014 and Provides an Update on its Patent Litigation

About this update from 01 Quantum Inc.

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, June 9, 2014 /CNW/ - 01 Communique Laboratory Inc. (ONE:TSX) today announced results for its second quarter 2014 which ended April 30, 2014. The loss for the second quarter 2014 was $369,632 compared to a loss of $1,169,030 for the same period in 2013, a decrease of $799,398. Excluding non-cash expenses for stock-based compensation and depreciation the adjusted loss for the second quarter 2014 was $324,559 (2013 - $1,066,559) a decrease of $674,625. The Company completed the quarter with $2,101,469 of cash and cash equivalents.   \n\n\"As we move forward our plan is to continue to monitor our expenses closely and adjust them as we see necessary with the primary goal of continuing in the defense of our intellectual property and then to accelerate our product development,\" said Andrew Cheung, President and CEO for 01 Communique. \"In respect of our patent litigation against Citrix and LogMeIn there have been several recent developments which are highlighted below.\"     \n\n\"In the LogMein case the Federal Circuit affirmed the district court's finding of non-infringement as well as affirming the validity of our patent. We are disappointed with the finding of non-infringement but believe that decision is limited to that case,\" said Andrew Cheung, President and CEO of 01 Communique. \"As we move forward with our lawsuit against Citrix we do so with a patent that has had its validity confirmed by the Federal Circuit.\"   \n\n\"On May 30, 2014 Citrix filed a patent infringement case in the central district of California alleging infringement of one of their patents by our I'm InTouch Meeting product and as well requested a declaratory judgment against us alleging that their GoToMeeting product offering does not infringe the \"479 Patent\". Shortly thereafter on June 3, 2014 the Judge presiding over the litigation in the Northern District of Ohio issued an Opinion and Order granting our motion to amend our original complaint to include alleged infringement of the \"479 Patent\" by their GoToMeeting product offering, which we did on June 6, 2014, as well as their GoToMyPC product offering,\" said Andrew Cheung. \"We believe their patent infringement allegation is without merit and we will defend ourselves against it. In respect of the declaratory judgment issue, we feel con...

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