NexgenRx Inc.
TSX VENTURE : NXG

NexgenRx Inc.

August 26, 2014 14:08 ET

NexgenRx Announces Second Quarter of 2014 Results

TORONTO, ONTARIO--(Marketwired - Aug. 26, 2014) - NEXGENRX INC. ("NexgenRx" or the "Corporation") (TSX VENTURE:NXG) is pleased to announce its Q2 of 2014 results.

For the second quarter ended June 30, 2014 transaction and administration revenue was $1,074,973, generating gross profit of $856,626 and a net loss of $114,531.

"Although historically our second quarter suffers from a seasonality effect which typically lowers revenue, the revenue increased by 4% in comparison to the first quarter of 2014, resulting in an overall increase of 4.6% in gross margin over the same period," stated Ron Loucks, President and CEO. "Our new sales efforts have already resulted in replacing over $350,000 of annual revenue in the first six months," he added.

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
    416-695-3393 x803
    www.nexgenrx.com