Shares of 01 Communique (TSX:ONE) were halted this morning, pending news.
The company subsequently announced that the Patent Trial and Appeals Board has rendered their decision affirming the Examiner’s finding of validity of the Company’s patent number 6928479 (the “479 Patent”).
On March 26th, 01 Communique was slammed after a federal jury in Eastern District of Virginia found that LogMeIn products do not infringe on 01 Communique’s ’479 patent. The news sent shares of the Canadian junior reeling, from a high of $1.38 in the weeks preceding the case, to roughly the twenty cent mark, where it has spent most of its time since.
CEO Andrew Cheung said the Ontario company will now focus on getting back in the courtroom.
“We are pleased that the PTAB has re-affirmed the validity of our patent,” he said. “We will now focus our attention on requesting the judge to lift the stay in the Citrix case so that we can proceed to trial.”
Mississauga-based 01 Communique was founded 1992, when it released a a fax program called 01 Fax. 01 began developing remote access software in the late 1990′s, and filed for patents related to this technologies in 2000. 01 Communique was subsequently granted two patents in August, 2005.
Shares of 01 Communique will resume at 9:30am PST.
Disclosure: Cantech Letter’s Nick Waddell purchased 35,000 shares of 01 Communique at $.235 on March 28th.