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 April 12, 2012
Cortex Reports Network Statistics for the Month of March 2012

 CALGARY, ALBERTA, April 12, 2012 -- Cortex Business Solutions Inc. (TSX VENTURE: CBX), reports the following network statistic updates for the month of March 2012. This report is issued the second Thursday of each month.

Summary:
  • Since our last report, there were four new buying organizations signed: Trident Exploration Corp, Atikwa Resources, Renegade Petroleum Inc. and Alberta Tubular Products Ltd. This brings the total new buying organizations signed from August 1 to April 12, 2012 to twelve. Alberta Tubular Products represents the first oil and gas service company on the Cortex Network to become a Hub.
    • Arsenal Energy Inc.
    • Canadian Utility Construction Corp.
    • Compton Petroleum Corp.
    • Regent Resources Ltd
    • Sure Energy Inc.
    • Twin Butte Energy Inc.
    • Pinecrest Energy
    • Insignia
  • The March transaction count of 821,893 on the Cortex Network was a 17% increase over February's transaction count of 703,217
  • 177 new suppliers were added to the Cortex Network in March 2012
  • Total Customer Contracts increased 3% to 7179
  • Since our last report, one new customer, Compton Petroleum Corp, went live on the trading partner network

Network Statistics:

March-12

February-12

% Change

Total Transactions

821,893

703,217

17%

Supplier Initiated Transactions

255,357

222,285

15%

Total Active Contracts

7,179

7,002

3%

New Customers Added

177

204

-13%

Total Hubs Active

17

16

6%


About Cortex Business Solutions
Cortex Business Solutions Inc. is an Enterprise eProcurement 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 our website at www.cortex.net or contact:
Brisco Capital Partners
Scott Koyich
Tel: (403) 215-5979
Email: skoyich@briscocapital.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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.
 
 

You can view the Next News Releases item: Thu May 10, 2012, Cortex Reports Network Statistics for the Month of April 2012

You can view the Previous News Releases item: Mon Apr 2, 2012, Cortex Business Solutions Inc. Announces the Addition of Bill Evelyn to the Advisory Committee

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