Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Cortex Reports February Network Stats

|Includes:Cortex Business Solutions Inc. (CTPNF)

My stock of the year Cortes Business Solutions reported, as it does every second Thursday of each month, network statistics for February 2013. Growth continues on a year over year basis. However it has slowed to the 20%+ range. I attribute this to a slow down in oil and gas drilling which is where most of their customers operate currently. This is changing though as they branch out into other industries. In addition it looks like the nat gas price is moving a bit higher which might stimulate some more drilling.

From the Cortex website:

  • Since our last report, one new buying organization, Arena Energy signed.
  • Cortex signed our first 100% e-billing customer. This initiative has the potential to add 1000's of new buying organizations to the Cortex network over the next 12 months and expand the network into multiple new industries.
  • The company launched online sign up which allows new customers to join the network through a simple, streamlined process.
  • Year over year, transactions on the network increased 26% from 703,217 in February 2012 to 889,341 in February 2013.
  • Total Customer Contracts increased 27% from 7,005 in February 2012 to 8,906 in February 2013.
  • 126 new suppliers were added to the Cortex Network in February 2013.
  • 47 Hubs are now live on the Trading Partner Network, an increase of 194% year over year.

Disclosure: I am long CTXZF.PK.

Stocks: CTPNF