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01 Communique Reports Second Quarter 2010 Results

^{Published on 2010-06-07 04:41:06 - Market Wire}
 

 01 Communique Laboratory Inc. SELECTED FINANCIAL INFORMATION Consolidated Balance Sheets April 30, 2010 and October 31, 2009 30-April-10 31-Oct-09 -------------- -------------- Assets Current assets Cash and cash equivalents $ 1,418,887 $ 922,091 Accounts receivable 60,246 77,148 Prepaid expenses and other assets 60,176 34,552 -------------- -------------- 1,564,884 1,033,791 Capital assets 25,575 31,672 -------------- -------------- $ 1,564,884 $ 1,065,463 -------------- -------------- -------------- -------------- Liabilities & Shareholders' Equity Current liabilities Accounts payable & accruals $ 422,288 $ 535,515 Deferred revenue 103,751 86,896 -------------- -------------- 526,039 622,411 Liability portion of debenture 1,068,773 - Contractual obligations and contingencies Shareholders' equity Share capital 30,327,044 30,326,144 Contributed surplus 1,543,107 1,364,035 Equity portion of debenture 140,982 - Share purchase warrants - 37,556 Agent options - 18,874 Deficit (32,041,061) (31,303,557) -------------- -------------- (29,928) 443,052 -------------- -------------- $ 1,564,884 $ 1,065,463 -------------- -------------- -------------- -------------- 01 Communique Laboratory Inc. SELECTED FINANCIAL INFORMATION Consolidated Statements of Operations and Comprehensive Income (Unaudited) For the 3 and 6 month periods ended April 30, 2010 and 2009 3 months ending 6 months ending 30-Apr-10 30-Apr-09 30-Apr-10 30-Apr-09 -------------------------- -------------------------- Revenue $ 108,127 $ 156,838 $ 183,162 $ 223,101 Cost of revenue 576 1,363 1,268 3,358 -------------------------- -------------------------- 107,551 155,475 181,894 219,743 Expenses (income) Selling, general and administrative 206,092 264,849 504,308 437,543 Patent litigation & re-examination expenses - 16,542 - 16,542 Research and development 170,010 200,072 351,596 400,321 Interest 2,457 2,401 2,273 (4,375) Depreciation and amortization 3,127 3,113 6,466 6,225 -------------------------- -------------------------- 381,686 486,977 864,643 856,256 -------------------------- -------------------------- Loss before interest and accretion on liability component of debenture (274,135) (331,502) (682,749) (636,513) Interest on debenture 38,581 - 45,000 - Accretion on liability component of debenture 8,037 - 9,755 - -------------------------- -------------------------- Loss for the period and comprehensive loss (320,753) (331,502) (737,504) (636,513) -------------------------- -------------------------- Loss per common share Basic $ (0.006) $ (0.006) $ (0.014) $ (0.012) Diluted $ (0.006) $ (0.006) $ (0.014) $ (0.012) Weighted average number of common shares Basic 51,406,007 51,586,878 51,404,757 51,656,325 Diluted 53,531,840 51,586,878 53,014,590 51,656,325 01 Communique Laboratory Inc. SELECTED FINANCIAL INFORMATION Consolidated Statements of Cash Flows (Unaudited) For the 3 and 6 month periods ended April 30, 2010 and 2009 3 months ending 6 months ending 30-Apr-10 30-Apr-09 30-Apr-10 30-Apr-09 -------------------------- -------------------------- Cash provided by (used in): Operating activities: Loss for the period $ (320,753) $ (331,502) $ (737,504) $ (636,513) Items not involving cash: Depreciation and amortization 3,127 3,113 6,466 6,225 Accretion of liability portion of debenture 8,037 - 9,755 - Stock-based compensation 37,821 84,851 122,642 85,736 Change in non-cash working capital (82,436) (100,340) (105,094) (97,869) -------------------------- -------------------------- (354,204) (343,878) (703,735) (642,421) Financing activities: Issue of debenture - - 1,200,000 - Issue of common shares 900 - 900 - Investing activities: Purchase of capital assets (369) (1,740) (369) (2,125) Increase (decrease) in cash (353,673) (345,618) 496,796 (644,546) Cash and cash equivalents, beginning of period 1,772,560 1,675,730 922,091 1,974,658 -------------------------- -------------------------- Cash and cash equivalents, end of period $ 1,418,887 $ 1,330,112 $ 1,418,887 $ 1,330,112 -------------------------- --------------------------