Cortex Business Solutions Inc.

Cortex Business Solutions Inc.

February 09, 2012 10:00 ET

Cortex Reports Network Statistics for the Month of January 2012

CALGARY, ALBERTA--(Marketwire - Feb. 9, 2012) - Cortex Business Solutions Inc. (TSX VENTURE:CBX), reports the following network statistic updates for the month of January 2012. This report is issued the second Thursday of each month.


  • Since our last report, there was one new buying organization signed, Pinecrest Energy. This brings the total new buying organizations signed from August 1 to January 31, 2012 to seven.
    • Arsenal Energy Inc.
    • Canadian Utility Construction Corp.
    • Compton Petroleum Corp.
    • Regent Resources Ltd
    • Sure Energy Inc.
    • Twin Butte Energy Inc.
  • The volume of transactions on the Cortex Network in January was 683,808, an increase over December's 668,107 transaction count.
  • 356 new suppliers were added to the Cortex Network in January 2012, for a total of 941 for the fiscal quarter.
  • Total Customer Contracts increased 2% to 6,798.
  • Since our last report, three new customers (Canadian Utility Construction, Regent Resources, and Hilcorp Energy) went live on the trading partner network.

To view the Details graph associated with this release, click the following link:

Network Statistics:

January-12 December-11 Change % Change
Total Transactions 683,808 668,107 15,701 2%
Supplier Initiated Transactions 214,122 216,121 -1,999 -1%
Total Active Contracts 6,798 6,442* 356 5%
New Customers Added 356 366 -10 -3%
Total Hubs Active 16 13 3 19%

* Note: The Total Active Contracts listed in the December Network Stats release was incorrect. The correct number should have been 6,442.

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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