Phoenix, AZ -- (ReleaseWire) -- 07/25/2017 --Cortex Business Solutions, (OTCQB:CTPNF; TSXV:CBX) (the "Company") has released the Q3 financial report and has posted a cash-flow positive quarter for the first time in the company's history. President & CEO Joe Leetzow has guided the company since 2015 and has led the company from a $7 million per year loss to financial stability in less than two years. The Company will make the final rebate payment on a $2.4 million dollar debt and has seen an increase of new customers and now serves 8,500 customers.
Most recently, the company is reporting growth at 22%. In 2015 the Company posted $8.5 million is recurring revenue and is currently reporting $11.2 million in recurring revenue. The President & CEO anticipates $20 million in recurring revenue by 2020.
Recently the Company built Small System Integration, which it anticipates will help small businesses to leverage the Cortex platform. Additionally, Mr. Leetzow estimates a savings of 10:1 for customers utilizing the Cortex Network and claims that experts have determined the Company's stock to be undervalued.
About Cortex Business Solutions Inc.
Cortex Business Solutions Inc. (TSX VENTURE:CBX) is a business-to-business network that enables electronic invoicing for buying and suppyling organizations. The Cortex network offers flexible connection methods to reduce the time required to process invoices and tools that leverage existing customer technologies and processes. Access to the Cortex Network enhances the exchange of documents allowing companies to connect and interact with each other to grow their businesses.
For more information, please visit http://www.cortex.net.
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Forward Looking/Cautionary/Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company's identity protection software products into various channels and market sectors, the issuance of the company's pending patent application, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
Cortex Business Solutions, Inc. Reports First Cash-Flow Positive Quarter in Company History