Cortex Business Solutions Inc.
TSX VENTURE : CBX
OTCQX : CTPNF

Cortex Business Solutions Inc.

March 13, 2015 19:11 ET

Cortex Reports Fiscal Second Quarter 2015 Network Statistics

CALGARY, ALBERTA--(Marketwired - March 13, 2015) - Cortex Business Solutions Inc. (TSX VENTURE:CBX)(OTCQX:CTPNF), an enterprise e-Procurement solutions company, reported network statistics for its fiscal second quarter ended January 31, 2015.

Fiscal Q2 2015 Network Statistics Summary

  • Signed 2 new 100% e-Billing solution customers.
  • Signed 4 new buying organizations in Canada, and 1 new buying organization signed in the United States
  • Added 496 new suppliers to the Cortex Network, a decrease of 30% from Q1 2015.
  • Active buying organizations on the Cortex Network remained flat from Q1 2015, totaling 78.
  • Active suppliers on the Cortex Network increased 1% to 8,752 compared to Q1 2015.
  • Billable transactions decreased 3% to 1,423,818 compared to Q1 2015.
  • Total transactions decreased 3% to 3,915,442 compared to Q1 2015.

Network Statistics

To view accompanying graph, visit the following link: http://media3.marketwire.com/docs/NetworkStatistics.jpg

Please see the following tables for a more detailed look at current and histrocial network statistics.

Quarter Over Quarter
Q2 FY15 Q1 FY15 Change
Total Transactions 3,915,442 4,021,739 -3 %
Billable Transactions 1,423,818 1,474,650 -3 %
Active Suppliers 8,752 8,630 1 %
New Suppliers Added 496 706 -30 %
Active Buying Organizations 78 78 0 %
e-Billing Destinations 2,131 1,856 15 %
Year Over Year
Q2 FY15 Q2 FY14 Change
Total Transactions 3,915,442 3,039,967 29 %
Billable Transactions1 1,423,818 1,082,9821 31 %
Active Suppliers 8,752 6,584 33 %
New Suppliers Added 496 342 45 %
Active Buying Organizations 78 62 26 %
e-Billing Destinations 2,131 88 2,322 %
1 Cortex now reports on Billable Transactions in the quarter as a more accurate reflection of revenue generating activity across the Cortex Trading Partner Network

About Cortex Business Solutions

Cortex Business Solutions Inc. (TSX VENTURE:CBX)(OTCQX:CTPNF) is an enterprise e-Procurement solutions company that improves efficiencies, reduces costs and streamlines procurement and supply chain processes for its customers. Accessing the Cortex Network enhances the exchange of business critical documents, such as purchase orders, receipts and invoices, resulting in improved cash flow management and business controls, while reducing day's outstanding and administrative costs. Cortex is a low cost, low risk solution that can be implemented quickly by leveraging clients' existing business environment. For more information, please visit www.cortex.net.

Forward-Looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information

  • Investor Relations Contacts:
    Cortex Business Solutions Inc.
    Jim Barker, Interim CEO and President
    1-403-219-1503
    jbarker@cortex.net

    Cortex Business Solutions Inc.
    Sandra Weiler, CFO
    1-403-219-1500
    sweiler@cortex.net