NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

November 21, 2013 18:07 ET

NexgenRx Announces Its 2013 Third Quarter Results

TORONTO, ONTARIO--(Marketwired - Nov. 21, 2013) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to report financial results for its second quarter, ended September 30, 2013.

Revenue from transaction fees for the quarter ended September 30, 2013 was $1,224,648 representing an increase of 16% over the same period in 2012. Cost of sales decreased by 12%, generating a gross profit increase of 24.8%. The Company generated positive net income of $129,671. The gross profit for the period was $1,001,285, an increase of 24.8% compared to the same quarter in 2012.

"Year to date, our net income is $622,496. Cash on hand at the end of the period is $837,674, which will enable us to continue to dedicate the necessary funds to accelerate our new sales strategy and continue our growth," 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

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

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