Cortex Business Solutions Inc.

TSX VENTURE : CBX


Cortex Business Solutions Inc.

October 11, 2012 10:00 ET

Cortex Reports Network Statistics for the Month of September 2012

CALGARY, ALBERTA--(Marketwire - Oct. 11, 2012) - Cortex Business Solutions Inc. (TSX VENTURE:CBX) reports the following network statistic updates for the month of September 2012. This report is issued the second Thursday of each month.

Summary

  • Since our last report, there were two new buying organizations that signed, which included: Doran Stewart Oilfield Services Ltd. and Fesco Ltd.
  • Year over year, transactions on the network increased 29% from 589,885 in September 2011 to 759,954 in September 2012.
  • Total Customer Contracts increased 46% from 5,648 in September 2011 to 8,248 in September 2012.
  • 175 new suppliers were added to the Cortex Network in September 2012.
  • 30 Hubs are now live on the Trading Partner Network, an increase of 200% year over year.
    • Now active this month: Atikwa Resources Inc, Ken X Energy, K-Kenn Industries Ltd, Just Freehold Energy Corporation and CWC Well Services

Network Statistics

September-12 September-11 % Change
Total Transactions 759,954 589,885 29%
Supplier Initiated Transactions 229,995 197,409 17%
Active Contracts 8,248 5,648 46%
Total Hubs Active 30 10 200%

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.

Contact Information