Cortex Business Solutions Inc.
TSX VENTURE : CBX

Cortex Business Solutions Inc.

March 14, 2013 10:00 ET

Cortex Reports Network Statistics for the Month of February 2013

CALGARY, ALBERTA--(Marketwire - March 14, 2013) - Cortex Business Solutions Inc. (TSX VENTURE:CBX) reports the following network statistic updates for the month of February 2013. This report is issued the second Thursday of each month.

Summary

  • Since our last report, one new buying organization, Arena Energy signed.
  • Cortex signed our first 100% e-billing customer. This initiative has the potential to add 1000's of new buying organizations to the Cortex network over the next 12 months and expand the network into multiple new industries.
  • The company launched online sign up which allows new customers to join the network through a simple, streamlined process.
  • Year over year, transactions on the network increased 26% from 703,217 in February 2012 to 889,341 in February 2013.
  • Total Customer Contracts increased 27% from 7,005 in February 2012 to 8,906 in February 2013.
  • 126 new suppliers were added to the Cortex Network in February 2013.
  • 47 Hubs are now live on the Trading Partner Network, an increase of 194% year over year.
Network Statistics
February-13 February-12 % Change
Total Transactions 889,341 703,217 26 %
Supplier Initiated Transactions 267,883 222,285 21 %
Total Active Contracts 8906 7,005 27 %
New Customers Added 126 204 -38 %
Total Hubs Active 47 16 194 %

For a full version of this press release, including the graphs and charts, please visit: http://www.cortex.net/s/NetworkStats.asp

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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