NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

November 25, 2010 15:09 ET

NexgenRx Announces Q3 2010 Results

TORONTO, ONTARIO--(Marketwire - Nov. 25, 2010) - NEXGENRX INC . ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to announce its 2010 third quarter results.

Revenue from transaction fees for the three months ended September 30, 2010, was $897,874 representing an increase of 32% over the same quarter last year.

The net loss for the three months ended September 30, 2010 was $195,472 ($0.004 per common share), compared with a loss of $537,200 ($0.01 per common share) representing an improvement of $341,728over the same quarter last year.

"Although Q3 is traditionally our lowest revenue qu arter due to the slower summer months, revenue for Q3 2010 was the strongest quarter in our history recording a 32% increase over 2009. Comparing the first 3 quarters of 2010 to 2009, we have increased our revenue by over 20%. This has resulted in generating positive operating income (transaction revenue minus direct and indirect expenses minus SG&A) for the second consecutive quarter." stated R on Loucks, President & CEO.

The Corporation's unaudited Interim Financial Statements and Notes, the Corporation's Management's Discussion and Analysis, and all additional required financial disclosure in respect of the period ended September 30, 2010, are 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