Cortex Business Solutions Inc.

Cortex Business Solutions Inc.

July 12, 2012 10:00 ET

Cortex Reports Network Statistics for the Month of June 2012

CALGARY, ALBERTA--(Marketwire - July 12, 2012) - Cortex Business Solutions Inc. (TSX VENTURE:CBX) reports the following network statistic updates for the month of June 2012. This report is issued the second Thursday of each month.


  • Since our last report, there were seven new buying organizations that signed: Tamarack Valley Energy, Rife Resources Ltd, Torc Oil and Gas Ltd, Vermilion Resources Ltd, Osum Oilsands Corp. Vantage Energy, and Grand Isle Shipyard. This brings the total new buying organizations signed from August 1, 2011 to July 12, 2012 to twenty-five. The signing of Vantage Energy in Denver, Colorado and Grand Isle Shipyard in Galliano, Louisiana represents the momentum Cortex continues to experience in the US marketplace. Grand Isle Shipyard is the fifth oil and gas service company to become a Hub on the Cortex Network.
- Arsenal Energy Inc. - Atikwa Resources
- Canadian Utility Construction Corp. - Renegade Petroleum Inc.
- Compton Petroleum Corp. - Alberta Tubular Products
- Regent Resources Ltd - Southern Pacific Resource Corp.
- Sure Energy Inc. - Velvet Energy
- Twin Butte Energy Inc. - Just Freehold Energy
- Pinecrest Energy - United Safety
- Insignia Energy Ltd. - Pajak Engineering
- Trident Exploration Corp. - Titus Tools
  • The June transaction count of 747,921 represents 8% month over month growth compared to May's transaction count of 693,921
  • Year over year, June transactions on the network increased 63% from 459,941 to 747,921
  • 187 new suppliers were added to the Cortex Network in June 2012
  • Total Customer Contracts increased 2% to 7,724 in June
  • Since our last report, two new Hubs went live on the trading partner network, which were Sure Energy and Trident Exploration

Network Statistics

June-12 May-12 % Change
Total Transactions 747,921 693,921 8%
Supplier Initiated Transactions 213,724 217,115 -2%
Total Active Contracts 7,724 7,537 2%
New Customers Added 187 198 -6%
Total Hubs Active 21 19 11%

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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.

For more information please visit our website at

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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