Business
01 Communique Reports Results for Third Quarter Fiscal 2014 and Provides an Update on its Patent Litigation
TORONTO , Sept. 29, 2014 /CNW/ - 01 Communique Laboratory Inc. (ONE:TSX-V) today announce...
About this update from 01 Quantum Inc.
[{"type":"text","content":"\n\nTORONTO, Sept. 29, 2014 /CNW/ - 01 Communique Laboratory Inc. (ONE:TSX-V) today announced results for its third quarter 2014 which ended July 31, 2014. The loss for the quarter was $629,744 compared to a loss of $584,941 for the same period in 2013. Excluding non-cash expenses for stock-based compensation and depreciation the adjusted loss for the quarter was $438,470 (2013 - $235,187) an increase of $203,283. The Company completed the quarter with $1,607,879 of cash and cash equivalents.   \n\n\"Our adjusted loss from operations was $438,470 for the third quarter. We have implemented a number of cost savings initiatives, outlined below, which we expect will reduce our expenses and adjusted loss by $75,000 per quarter or $300,000 per year. We will continue to monitor our expenses closely with the goal to continue 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 there have been several recent developments which are highlighted below.\"     \n\nAn update on the Company's patent lawsuit against Citrix Systems Inc. (\"Citrix\") follows.  \n\nThe Company alleges infringement of its U.S. patent number 6,928,479 (\"'479 Patent\") by Citrix's GoToMeeting and GoToMyPC product offerings. The Company is seeking past damages going back to August 9, 2005; being the date the '479 Patent was issued, as well as a permanent injunction prohibiting infringement. The case is taking place in the Northern District of Ohio. After receiving a positive decision from the USPTO's Patent Trial and Appeals Board (\"PTAB\") the Company requested and on February 14, 2014 the Court granted the request that the case be re-opened so that the stay can be lifted and the case proceed to trial. A claim construction tutorial and hearing is scheduled for November 12 and 13, 2014. Expert discovery is scheduled to be completed by January 16, 2015 following which a scheduling conference is expected to take place to set dates regarding filing and/or renewing dispositive motions, trial preparation and trial. \n\nOn May 30, 2014 Citrix filed a complaint in the United States District Court Central District of California alleging infringement of their U.S. Patent No. 7,219,233  by...