Spine Pain Management (OTCBB: SPIN) has a real solution for spinal pain treatment by pro-actively supporting an ever expanding market of spine surgeons, orthopedic surgeons, other health care providers and injured victims with the highest quality spine pain management care.
Breaking News: SPIN Q1 Record Revenues Double - Looks at Aggressive Expansion of Clinics Over the Next 12 Months!
Spine Pain Management, Inc. (OTCBB: SPIN) issued a press release announcing financial results for the first quarter ending March 31, 2010. Spine Pain Management, Inc. began operations of its first clinic in Houston, Texas in late August, 2009. Revenues for Q1 ending, Mar. 31, 2010 almost doubled to $1.45Million over the prior quarter posting net income of $355K or $.02 per fully diluted share. In the same quarter last year the company reported no revenues and a loss of $656K.
William F. Donovan, M.D., the company's Chief Executive Officer, stated, "We are very pleased with the company's progress for the first three months of 2010 which far exceeded our original business plan's top line by over a half million dollars with all revenues coming from our home office clinic. We anticipate opening a second clinic before the end of this second quarter. Details are being finalized and will be reported as soon as completed. The company anticipates adding at least two additional spine treatment clinics in Q3, 2010 and 4 to 6 additional clinics in the next 12 months." Dr. Donovan went on to say, "I am also happy to add that in April, 2010, we agreed to the settlement of a pending lawsuit, which will result in the return of 625,000 shares of common stock to the company.
No comments:
Post a Comment