01 Quantum (ONE) Q1 2025 earnings summary

Executive summary

• Focuses on cybersecurity (IronCAP cryptographic system) and remote access (I'm InTouch suite) solutions, with primary markets in the US, Asia/Pacific, and Canada.

• Substantial losses and negative cash flows from operations in recent years; ability to continue as a going concern depends on future profitability or additional financing.

Financial highlights

• Revenue for the quarter ended January 31, 2025 was $86,505, down from $98,470 for the same quarter last year.

• Net loss for the quarter was $135,439, compared to a net loss of $112,281 in the prior year quarter.

• Cash at January 31, 2025 was $211,066, up from $139,126 at October 31, 2024, mainly due to financing activities.

• Total assets increased to $1,241,614 from $240,483 at October 31, 2024, primarily from a new $800,000 GIC and lease asset additions.

• Weighted average shares outstanding for the quarter were 97,470,532 (basic and diluted).

Capital allocation and financing

• Completed a non-brokered private placement of 4,000,000 units at $0.23 per unit for gross proceeds of $920,000; each unit included a share and a warrant exercisable at $0.75 until January 2028.

• 250,000 stock options exercised, raising $58,500 in cash.

• $800,000 invested in a one-year cashable GIC at 3.22% per annum, maturing January 2026.

• Repaid $40,000 CEBA government loan in the quarter.