Cortex Business Solutions Inc.

Cortex Business Solutions Inc.

May 09, 2013 10:00 ET

Cortex Reports Network Statistics for the Month of April 2013

CALGARY, ALBERTA--(Marketwired - May 9, 2013) - Cortex Business Solutions Inc. (TSX VENTURE:CBX) reports the following network statistic updates for the month of April 2013. This report is issued by the second Thursday of each month.


  • Since our last report, 4 new buying organizations have been signed:
    • Callon Petroleum Company
    • I-Dent
    • Rock Energy
    • West Valley Energy Corp.
  • Year over year, transactions on the network increased 38% from 695,886 in April 2012 to 958,997 in April 2013.
  • Total Customer Contracts increased 25% from 7,339 in April 2012 to 9,147 in April 2013.
  • 114 new suppliers were added to the Cortex Network in April 2013.
  • 51 Hubs are now live on the Trading Partner Network, an increase of 200% year-over-year.

Network Statistics

April-13 April-12 % Change
Total Transactions 958,997 695,886 38 %
Supplier Initiated Transactions 277,991 210,215 32 %
Total Active Contracts 9,147 7,339 25 %
New Customers Added 114 160 -29 %
Total Hubs Active 51 17 200 %

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About Cortex Business Solutions

Cortex Business Solutions Inc. is an Enterprise eProcurement 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.

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.

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