NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

March 27, 2015 16:11 ET

NexgenRx Announces 2014 Annual Results

TORONTO, ONTARIO--(Marketwired - March 27, 2015) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to announce its 2014 annual results.

Revenue for the year ended December 31, 2014 was $4,216,404 with cost of sales $883,859 and gross profit of $3,332,545. The net loss for the year was $477,616 resulting in negative $0.01 per common share.

"We recognized the full impact of the loss of one of our major clients, with revenue for the year totaling $4,216,404. This client loss has been offset by over 50% due to new sales revenue. We are very confident in our ability to recover the remaining lost revenue in the next twelve months." stated Ron Loucks, President and CEO.

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.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release."

Contact Information

  • Ronald C. Loucks
    NexgenRx Inc.
    President and CEO
    416.695.3393 x801

    Taba Merrikh
    NexgenRx Inc.
    Director of Finance
    416-695-3393x803