NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

May 21, 2010 14:40 ET

NexgenRx Announces 2010 First Quarter Results

TORONTO, ONTARIO--(Marketwire - May 21, 2010) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to announce its 2010 first quarter results.

Revenue from transaction fees for the three months ended March 31, 2010, of $826,289, represented a 7% increase of over the prior year.

The net loss for the three months ended March 31, 2010 was $211,899 ($0.005 per common share), compared with a loss of $457,688 ($0.01 per common share) represented a decrease of $245,789 over the prior year.

During the quarter, NexgenRx was focused on the implementation of a large corporate initiative and continued to identify new revenue opportunities with existing and new and existing clients. The launch of NexAdmin, a new state of the art benefits administration system, opens many new doors of opportunity for NexgenRx Inc. The Company's major focus is to continue actively marketing NexAdmin to a target audience of corporate clients, multi-employer groups, and Third Party Administrators who are looking for innovative and more cost effective ways of providing group benefits.

The Corporation's unaudited Interim Financial Statements and Notes, Management's Discussion and Analysis, and all additional pertinent financial disclosure in respect of the period ended March 31, 2010, is available at www.sedar.com.

About NexgenRx
NexgenRx is a growing health benefits management company engaged in the design, management and administration of health benefit plans offered by employers and other plan sponsors for the benefit of their employees and plan members. More information on NexgenRx can be found at www.nexgenrx.com.

Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Corporation. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • NexgenRx Inc.
    Ronald C. Loucks
    President and CEO
    (416) 695-3393 x 801
    (647) 722-2920 (FAX)
    or
    NexgenRx Inc.
    Taba Merrikh
    Director of Finance
    (416) 695-3393 x 502
    (647) 722-7335 (FAX)
    www.nexgenrx.com