01 Communique Reports Promising First Quarter Fiscal 2024 Results Amidst Quantum Computing Security Enhancements

TORONTO, ON, March 21, 2024 - 01 Communique Laboratory Inc. (TSXV:ONE)(OTC PINK:OONEF), a pioneering enterprise in the cybersecurity landscape for the quantum computing era, unveiled its first quarter fiscal 2024 outcomes. The company showcased progress in its operational and financial facets, emphasizing the growing importance of quantum-safety across technology sectors.

CEO Andrew Cheung highlighted the escalating attention towards quantum safety in modern technological areas such as AI and cryptocurrencies. He pointed out significant developments like Apple's announcement of a quantum-safe iMessage and discussions within the Ethereum community about protecting its cryptocurrency against quantum computers. Cheung underscored the company’s Post-Quantum Cryptography (PQC) integrated in IronCAP™ as a pivotal solution for quantum safety.

Financially, the company reported a notable reduction in its quarterly loss to $112,281 from the previous year's $247,508, attributing this improvement to a decrease in stock-based compensation, depreciation, and operational expenses. Cash operating expenses saw a significant decrease, aligning with the company’s strategy to reduce development expenses after completing several projects. This strategic adjustment aims to correlate ongoing expenses with recurring revenue levels, hinting at an efficient operational model moving into the future.

Nonetheless, revenue for the quarter slightly dipped to $98,470 from $106,803, partly influenced by currency fluctuations. Despite this, the firm’s achievements in product development and strategic partner collaboration are poised to fortify its position in the cybersecurity domain.

01 Communique also announced a teleconference to discuss its quarterly results and provide updates on its business prospects concerning its IronCAP™ and IronCAP X™ products.