Cortex Reports Fiscal Third Quarter 2014 Network Statistics
May 08 2014 - 9:01AM
Marketwired Canada
Cortex Business Solutions Inc. (TSX VENTURE:CBX)(OTCQX:CTPNF), an enterprise
e-Procurement solutions company, reported network statistics for its fiscal
third quarter ended April 30, 2014.
Fiscal Q3 2014 Network Statistics Summary
-- Four new 100% e-Billing solution customers were signed.
-- One new buying organization was signed in Canada, with two signed in the
United States.
-- 410 new suppliers were added to the Cortex Network.
-- Active buying organizations on the Network increased by 44% for a total
of 69, compared to 48 in the year-ago quarter.
-- Total suppliers transacting on the Network increased 33% to 7,774,
compared to 5,849 in the year-ago quarter.
-- Supplier initiated transactions increased 43% to 1,179,089, compared to
823,440 in the year-ago quarter.
-- Total transactions increased 15% to 3,231,611, compared to 2,821,534 in
the year-ago quarter.
Network Statistics
To view the bar graph accompanying this press release, please visit the
following link: http://media3.marketwire.com/docs/944449.png
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Q3 FY14 Q3 FY13 Change
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Total Transactions 3,231,611 2,821,534 15%
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Supplier Initiated Transactions 1,179,089 823,440 43%
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Active Suppliers 7,774 5,849 33%
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New Customers Added (In FYQ3-14) 410 367 12%
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Active Buying Organizations 69 48 44%
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e-Billing Destinations (First reported FYQ2-
14) 249 N/A N/A
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About Cortex Business Solutions
Cortex Business Solutions Inc. (TSX VENTURE:CBX)(OTCQX:CTPNF) is an enterprise
e-Procurement solutions company that improves efficiencies, reduces costs and
streamlines procurement and supply chain processes for its customers. Accessing
the Cortex Network enhances the exchange of business critical documents, such as
purchase orders, receipts and invoices, resulting in improved cash flow
management and business controls, while reducing day's outstanding and
administrative costs. Cortex is a low cost, low risk solution that can be
implemented quickly by leveraging clients' existing business environment. For
more information, please visit www.cortex.net.
Forward-Looking Statements
Statements in this release that are forward-looking statements are subject to
various risks and uncertainties concerning the specific factors disclosed under
the heading "Risk Factors" and elsewhere in the Company's periodic filings with
Canadian securities regulators. Such information contained herein represents
management's best judgment as of the date hereof based on information currently
available. The Company does not assume the obligation to update any
forward-looking statement.
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of this news release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations Contacts:
Liolios Group, Inc.
Cody Slach or Greg Falesnik
Tel 1-949-574-3860
CBX@Liolios.com
Brisco Capital Partners
Scott Koyich
Tel 1-403-215-5979
skoyich@briscocapital.com
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