Monthly Archives

August 2017

Nationally Recognized Spine Injury Expert, Jeffrey A. Cronk, DC, JD Accepts Chief Operating Officer Position At Spine Injury Solutions, Inc. (SPIN)

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HOUSTON, Aug. 14, 2017 (GLOBE NEWSWIRE) — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, and healthcare solution and financing company servicing the multi-billion dollar spine injury sector, through its Chairman/CEO, Dr. William Donovan, today announced the  appointment of Jeffrey A. Cronk, DC, JD, to its position of Chief Operating Officer (COO). Dr. Cronk has been a Director of SPIN since October, 2015 and will retain his seat on the BOD.

William Donovan, M.D., Chairman/CEO of Spine Injury Solutions, Inc., stated, “Jeff Cronk and I first became acquainted some two years ago when he discovered that we were working on a Video Transparency Device, our Quad Video HALO™, a development we both realized could revolutionize the Spine Injury sector. From his bio below, Jeff is not only a co-developer and marketing director of a very successful software program on pinpointing Spinal Ligament damage in injury cases but his extensive knowledge and understanding of the Spine Injury sector made me feel he would be a strong addition to SPIN’s executive team.

Donovan continued, “Last year, I started to realize that a qualified candidate was already on the BOD.  As Jeff became more knowledgeable about SPIN and QVH, he has been slowing down his other commitments to avail him more time to spend with SPIN. Over the past several months he has rapidly become the force behind the Company’s decision to expand SPIN’s local Affiliate Program, nationwide. Aside from his Industry knowledge and extensive contacts, his organizational and marketing skills make him the perfect leader to assist me in taking SPIN to its next level and beyond.”

Dr. Jeffrey Cronk stated, “For the last 29 years I have dedicated my professional life to helping people overcome their physical difficulties, especially as it has related to the spine. Since 1996 my passion has been in the area of spinal injury work, more specifically the injuries to the spinal ligaments.  At the time and even now today, we know that spinal injuries are the number one cause of pain and disability in the market.  Since that time, I have specialized in developing and marketing diagnostic procedures and protocols that can help aid any doctor in determining the severity and location of this condition.  I have done this with the end user or the patient in mind as we know that early detection and better understanding of these injuries by all parties, will lead to a reduction in chronic pain rates, a reduction in disability rates and a reduction in costs to all parties involved.  All my company involvements throughout my career have had this same goal.

Two years ago, an associate in an existing client, Spinal Kinetics, introduced me to SPIN and Dr. Donovan.  In this meeting, I was introduced to the Quad Video Halo (QVH) video medical records technology.  It was very clear that Dr. Donovan’s goals with this technology were to help reduce medical errors in pain management procedures or surgical procedures.  These attributes were easy to see with this technology, additionally, technologies like the QVH are needed in both the injury and non-injury related services sector as they will improve outcomes.

After a quick review of his work and meeting Dr. Donovan, I was convinced that SPIN’s goals and mission aligned with the purpose and mission that I was trying to achieve in other aspects of the injury market.

Cronk went on to say, “For a year, I watched SPIN management attempt to make the leap from development to commercial practical application of the QVH. At year end, I volunteered to assist the company in this critical step. After starting to review the whole Company, I realized what Dr. Donovan had already accomplished in developing and using the QVH cases over the past few years. In my opinion, the QVH has the ability to increase the end benefits to the injured patient over the status quo.  With such a scalable, clinic friendly model, there was an opportunity to be able to establish affiliate locations that could bring value to any local injury ecosystem.  When you can bring value to the patients, value to the referring providers, value to the insurer’s, value to the legal representation on both sides, you are literally bringing value to the whole local injury ecosystem and that is a real win-win situation and precisely what we intend to do.  There was no question in my mind that this is a project worth investing time and resources into and a project that we can easily build a profitable business.

Several months ago, Dr. Donovan approached me with an invitation to become more directly involved in the Company, but the timing was not right.  During these few months, my thoughts and ideas for the Company only multiplied, so when offered the position of Chief Operating Officer, I accepted with sincere enthusiasm. What I particularly appreciate is Dr. Donovan’s understanding of the value and synergism my own existing longer term projects bring to the SPIN Affiliate Model and his desire that I continue to dedicate a portion of my time to continue in those efforts for the overall good of SPIN.

With the business model foundation that Dr. Donovan and his team have delivered to date, I now look forward to building on the advances the Company has made and that Dr. Donovan’s perseverance and the QVH deserve.  I also look forward to meeting you all on the Q2, 2017 Investors Conference Call this afternoon. I am very eager to get started and to help SPIN do some great things in this $250 billion market.”

About Dr. Jeffrey A. Cronk: Dr. Jeffrey A. Cronk, DC, JD – age 54, received a Bachelor’s Degree in General Sciences and a Doctorate Chiropractic in 1988. That same year he became a Licensed Doctor of Chiropractic and has maintained his license. In 2013 he completed his Law Degree with a special emphasis on personal injury law. Dr. Cronk’s main passion is in the area of Spine Injury, both ligament and bone and the importance of proper diagnosis and treatment. There is no other Doctor in the country that has provided more educational Webinars and Seminars on these topics.

He has participated in the co-development of an online web based system that will allow a radiologist to log in from anywhere in the world and perform a study. He was integral in assisting with the development of the program that trains these highly educated medical professionals. He has delivered well over 350 webinar programs, along with many seminars, published a number of articles and has traveled the country delivering CE and CLE programs on these injuries. He has delivered his programs to Doctors of Chiropractic, Doctors of Osteopathic, Medical Doctors, Plaintiff Attorneys, Defense Attorneys, Medical Specialists, Physical Therapists, Nurse Practitioners, Insurance Adjusters, Case Managers, Utilization Reviewers, Independent Medical/Chiropractic Examiners and the general public.

Dr. Cronk has also delivered educational materials to professionals via his online educational programs.  These programs focus on better educating professionals so that they can improve their results with the patients or clients that they serve.  Dr. Cronk has been an extreme advocated for improving injury clinical objectivity through better diagnostic protocols, improving patient treatment results through better understanding of the patient’s actual condition, standardizing documentation procedures so that the injury environment is less adversarial in nature, and reducing the costs to all parties involved.  His philosophy has also been to bring forward technologies and training that benefits all parties involved: injured patients, treating doctors, plaintiff attorneys, defense attorneys, insurers, and the employers and the public that they serve.

About Spine Injury Solutions, Inc.:

We are a medical services and technology company facilitating diagnostic services for patients who have sustained spine injuries resulting from traumatic accidents. We deliver turnkey solutions to spine surgeons, orthopedic surgeons, DOs and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our management and funding services help reduce the financial burden on healthcare providers that provide patients with early-stage diagnostic testing and non-invasive surgical care, preventing many patients from being unnecessarily delayed or inhibited from obtaining needed treatment.

Additional information about the company, along with a video can be found at its website at www.spineinjurysolutions.com.

Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the “SEC”). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, healthcare services demands, changes in healthcare practices, government regulation, and other factors over which the company has little or no control. The company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the company’s recent filings with the SEC.

Company Contact

Dr. William F. Donovan

Chairman, President & CEO

Spine Injury Solutions, Inc.

713-521-4220

Spine Injury Solutions reports Q2 2017 financial results. updates, new COO and reminds for interactive video conference call 4:20 ET today

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HOUSTON, Aug. 14, 2017 (GLOBE NEWSWIRE) — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, and healthcare solution and financing company servicing the multi-billion dollar spine injury sector, today announces Financial Results for Q2, 2017. In addition it has scheduled an interactive video Investor webinar conference call for today, Monday August 14, 2017 at 4:20 p.m. (EDT) to discuss the company’s financial results for Q2, 2017, meet its new Chief Operating Officer (COO) and discuss plans for its nationwide affiliate expansion Roll-out for its core Personal Injury Case funding. Shareholders Question & Answers will follow.

Dr. William Donovan, Chairman/CEO Commented; “Earlier this year, the company made the decision to expand our core business model of funding spinal injury medical procedures through our own affiliates. This model has generated approximately 9,000 procedures in seven years, with collection of approximately $17 million. These collections were accomplished with an average of three to four affiliates.   This expansion decision will require a branded, standardized and scalable program for replication nationally and additional funding will be necessary to accomplish this goal. I devoted additional resources in time and travel to explore new centers. With the announcement earlier today of a successful end to our search to fill the position of Chief Operating Officer (COO) promised last quarter, with more of my time released to tend to existing affiliates and new affiliates developing, I anticipate a sustainable turn towards profitability.”

Donovan went on to say, “As you can see from a press release issued earlier today, Jeffrey Cronk, DC, JD, formerly an independent member of SPIN’s Board of Directors for the past two years, has now been appointed to the executive position of Chief Operating Officer.  Jeff’s primary responsibilities will be to review organizational operations as well as to develop the national expansion of our affiliate program.

I invite all interested parties to attend our Q2 2017 interactive video conference call where you will meet our new COO, or view its replay which will be out by tomorrow morning.”

Results of Operations

For the Quarter ended June 30, 2017.

Comparison of the three month period ended June 30, 2017 with the three month period ended June 30, 2016.

We recorded $730,894 in gross revenue for the three months ended June 30, 2017, offset by $304,830 of the settlement discount resulting in net revenue of $426,064.  For the same period in 2016, gross revenue was $892,926, offset by $358,142 of settlement discount, resulting in net revenue of $534,784.  Revenue was negatively affected by the reduced case volume of the Tyler affiliate who saw revenue drop $105,674 from 2016. For the three months ended June 30, 2017, we worked with three spine injury diagnostic centers: Houston, Texas; Tyler, Texas and Odessa, Texas. West Texas/Lubbock, Texas will become active in the third quarter of 2017. Service cost was $140,583 for the three months ended June 30, 2017 compared to $184,789 for the same period in 2016. The decrease in service cost is attributable to the lower case volume in Houston and the reduced revenue of the Tyler affiliate.

During the three months ended June 30, 2017, we incurred $417,467 of operating, general and administrative expenses compared to $414,419 for the same period in 2016.  Operating, general and administrative expenses were flat for the 2017 quarter compared to 2016. There was research and development costs of $12,203 during the quarter ended June 30, 2017 as compared to $13,698 in 2016.

As a result of the foregoing, we had a net loss of $155,529 for the three months ended June 30, 2017, compared to a net loss of $91,987 for the three months ended June 30, 2016.

Liquidity and Capital Resources

For the six months ended June 30, 2017, cash used in operations was $196,584 which primarily included increases in accounts receivable of $105,149 and increases in prepaid expenses of $18,500, related party payables of $35,877 and accounts payable of $30,019.  For the same period in 2016 we had a increase in accounts receivable of 122,019, inventories of $12,175, prepaid expenses of $24,250, and a decrease in accounts payable of $29,488, partially offset by net loss of $38,828 and an decrease of $29,400 in due to related party.  We used no cash in investing activities for the six months ended June 30, 2017 and 2016.

Cash used in financing activities for the six months ended June 30, 2017 and 2016 consisted of repayments on our notes payable in the amount of $50,000 and $0, respectively, and net draws (repayments) on our line of credit of $75,000 and $20,000, respectively.

Conference Call Details

Conference Call: An investor’s conference call with management will be held on Monday, August 14, at 4:20 p.m. (EDT). The call will be video WebCast with a short live Power Point presentation followed by Q & A.  The call may be accessed either by phone alone, which will not allow asking questions, or by phone and/or VOIP with headset after internet log-in with an on screen provided Audio Pin # which will allow verbally asking questions.  Questions can also be typed into an online chat screen at any time during the presentation or Q & A period.

Access to the Call:  To use the internet link, you must register prior to access. So we suggest you complete the registration and get your log-in information in advance of the start of the presentation.  You can register at any time. As mentioned above, the call is Monday August 14, at 4:20 p.m. (EDT).

Click or paste the link below in your browser for registration and web access to the presentation and follow the online instructions:

https://attendee.gotowebinar.com/register/5599367802524727555

or if the above link doesn’t work, please try the following:

http://www.joinwebinar.com     Webinar ID: 615-551-691

Telephone Dial-in and/or VOIP which provides Q&A: To ask a question using your telephone, you must be online at the presentation website during the internet presentation where a unique Audio PIN # will be provided to you on screen after you log-in to the presentation console.  You must use the pin to hear the call on the phone. During the presentation, all will be muted until the Q&A portion. Questions can be asked by typing in the question in the provided questions link on the provided console at any time during the presentation and will be answered during the Q&A.

The Q & A will be moderated, but without an operator, and will be open to all questions after the formal presentations.  Review this short YouTube tutorial video for pointers on how to use the Webinar Features. (This is just a demo. Do not use the numbers or codes on this demo. Use what is provided above.)

YouTube webinar instructions: https://www.youtube.com/watch?v=61o5cMOhYls

If you use the telephone, but are NOT also online, you will be able to hear the presentation plus Q & A, but will remain in “listen only” mode for the duration of the call.

Conference Dial-in Number:  +1 (415) 930-5321 
Participant Access Code:   658-980-303

Conference Play Back:  A video replay of the conference call presentation will be available several hours after the completion of the call at the company website:

http://www.spineinjurysolutions.com

About Spine Injury Solutions, Inc:

We are a medical services and technology company facilitating diagnostic services for patients who have sustained spine injuries resulting from traumatic accidents. We deliver turnkey solutions to spine surgeons, orthopedic surgeons DO’s and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our management and funding services help reduce the financial burden on healthcare providers that provide patients with early-stage diagnostic testing and non-invasive surgical care, preventing many patients from being unnecessarily delayed or inhibited from obtaining needed treatment.

Additional information about the company, along with a video replay of most recent Investor Conference Call can be found at its website at www.spineinjurysolutions.com.

About Quad Video HALO, Inc.:

A wholly owned subsidiary of Spine Injury Solutions, Inc. Quad Video HALO, Inc. brings surgeons and interventional pain doctors the technology to provide Transparency of their surgical procedures.  The Quad Video Technology V3.0 and HALO Rx creates a digital turnkey video and audio documentation solutions that integrates multiple views from other OR/treatment imagining sources with several other viewpoints just outside the sterile field.

Additional information about QVH, can be found at its website at www.QuadVideoHalo.com

Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the “SEC”). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, healthcare services demands, changes in healthcare practices, government regulation, and other factors over which the company has little or no control. The company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the company’s recent filings with the SEC.

Company Contact
Dr. William F. Donovan
Chairman, President & CEO
Spine Injury Solutions, Inc.
713-521-4220

Spine Injury Solutions Schedules Interactive Conference Call to Present 2nd Quarter 2017 Financial Results, Provide Business Development Update

By | News Releases | No Comments

HOUSTON, Aug. 07, 2017 (GLOBE NEWSWIRE) — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, and healthcare solution company servicing the multi-billion dollar spine injury sector, through its Chairman/CEO today announced that it has scheduled an interactive video Investor conference call for Monday August 14, 2017, at 4:20 p.m. (ET) to discuss the Company’s financial results for Q2 2017, business initiatives, corporate development and provide an update on expansion plans for its core Personal Injury Case funding along with the current marketing status of its patented Quad Video HALO™ v.3.0 (QVH3) and HALO Rx™.

Spine Injury Solutions intends to issue its Q2 2017 financial results on Monday, August 14, 2017 prior to the Conference Call. Dr. William Donovan, Chief Executive officer, and Mr. John Bergeron, chief financial officer will deliver prepared remarks about corporate development to be followed questions and answers.

Conference Call Details

An investor’s conference call with management will be held on Monday, August 14, at 4:20 p.m. (EDT). The call will be video WebCast with a short live Power Point Presentation followed by Q & A.  The call may be accessed either by phone alone, which will not allow asking questions, or by phone and/or VOIP with headset after internet log-in with an on screen provided Audio Pin # which will allow verbally asking questions.  Questions can also be typed into an online chat screen at any time during the presentation or Q & A period.

Access:  To use the internet link, you must register prior to access. So we suggest you complete the registration and get your log-in information in advance of the start of the presentation.  You can register at any time. As mentioned above, the call is Monday August 14, at 4:20 p.m. (EDT).

Click or paste the link below in your browser for registration and web access to the presentation and follow the online instructions:

https://attendee.gotowebinar.com/register/5599367802524727555

or if the above link doesn’t work, please try the following:

http://www.joinwebinar.com     Webinar ID: 615-551-691

Telephone Dial-in and/or VOIP which provides Q&A: To ask a question using your telephone, you must be online at the presentation website during the internet presentation where a unique Audio PIN # will be provided to you on screen after you log-in to the presentation console.  You must use the pin to hear the call on the phone. During the presentation, all will be muted until the Q&A portion. Questions can be asked by typing in the question in the provided questions link on the provided console at any time during the presentation and will be answered during the Q&A.

The Q & A will be moderated, but without an operator, and will be open to all questions after the formal presentations.  Review this short YouTube tutorial video for pointers on how to use the Webinar Features. (This is just a demo. Do not use the numbers or codes on this demo. Use what is provided above.)

YouTube webinar instructions: https://www.youtube.com/watch?v=61o5cMOhYls

If you use the telephone, but are NOT also online, you will be able to hear the presentation plus Q & A, but will remain in “listen only” mode for the duration of the call.

Conference Dial-in Number:  +1 (415) 930-5321 
Participant Access Code:  658-980-303

Conference Play Back:  A video replay of the conference call presentation will be available several hours after the completion of the call at the company website:

http://www.spineinjurysolutions.com

About Spine Injury Solutions, Inc:

We are a medical services and technology company facilitating diagnostic services for patients who have sustained spine injuries resulting from traumatic accidents. We deliver turnkey solutions to spine surgeons, orthopedic surgeons DC’s and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our management and funding services help reduce the financial burden on healthcare providers that provide patients with early-stage diagnostic testing and non-invasive surgical care, preventing many patients from being unnecessarily delayed or inhibited from obtaining needed treatment. We believe that our services and technology brings strong transparency and impartiality to all parties involved in the settlement of patient cases.

Additional information about the company, along with a video replay of most recent Investor Conference Call can be found at its website at www.spineinjurysolutions.com.

About Quad Video HALO, Inc.:

A wholly owned subsidiary of Spine Injury Solutions, Inc. Quad Video HALO, Inc. brings surgeons and interventional pain doctors the technology to provide Transparency of their surgical procedures.  The Quad Video Technology V3.0 and HALO Rx creates a digital turnkey video and audio documentation solutions that integrates multiple views from other OR/treatment imagining sources with several other viewpoints just outside the sterile field.

Additional information about QVH, can be found at its website at www.QuadVideoHalo.com

Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the “SEC”). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, healthcare services demands, changes in healthcare practices, government regulation, and other factors over which the company has little or no control. The company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the company’s recent filings with the SEC.

Company Contact

Dr. William F. Donovan
Chairman, President & CEO
Spine Injury Solutions, Inc.
713-521-4220