(Yahoo.Finance) 01 Communique Laboratory Inc. recently reported results for its second quarter of fiscal 2019, ended April 30, 2019 . The loss for the quarter was $196,043 (2018 – $35,044 ) an increase of $160,999 a direct result of the investment the Company has made in developing its Post-Quantum Cryptography (“PQ-Crypto”) technology and getting ready for the commercial launch of the first of many products incorporating IronCAP X this coming September. The Company has completed the period with $462,026 of cash and cash equivalents and a guaranteed investment certificate.
“We have come a long way over the past several months as we get ready for the commercial launch of IronCAP X in September,” said Andrew Cheung , President and CEO for 01 Communique. “We filed a patent application in the United States relating to our cryptographic systems and methods in January. We added several new members to our development team with expertise in security. We demonstrated our new product at our shareholders’ meeting in April. We completed a new web site, which will be up and running shorty. We initiated discussion with a number of key partners in the security space. We are in the midst of putting together a sales and marketing team. With all of this on the go and more to come we have enlisted a leading investment firm to complete a non-brokered private placement.”