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Spine Injury Solutions, Inc. Reports Q3 2016 Financial Results and Reminds for Conference Call at 4:20 EST Today

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  • Q3 Loss of $178,401 decreased 19% from $219,674 in Q3 15 –fourth consecutive quarterly decrease in loss.
  • Q3 Collections of $575,000 are highest of the year, passing the $15 million milestone since inception.
  • Q3 Gross Margins of 68%, a new record level.
  • Nationwide Marketing Initiative for QVH launched in November.

HOUSTON, Nov. 14, 2016 — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, financing and healthcare solution company servicing the multi-billion dollar spine injury sector, reports Q3 2016 financial results and will hold an interactive video Investor conference call today Monday, November, 14, 2016, at 4:20 p.m. EST to discuss the Company’s financial results for third quarter 2016 and provide an update on its current and future business initiatives.

Dr. Donovan, Chairman CEO stated, “While I am somewhat disappointed that no QVH sales were completed in Q3, our marketing team has made strides in formulating a strategic marketing plan which vastly increases the scope and size of our QVH product line. During the quarter, the Company presented its QVH v.3 and QVH Rx at several trade shows and workshops attracting some qualified leads. The biggest takeaway was feedback confirming that our new unique video documentation transparency QVH Rx system, which had its first operating room tests done earlier in the year, is engendering interest from administrators at hospitals, teaching hospitals/cadaver labs and ambulatory surgical centers for both its risk management aspects as well as education. Because of what we have learned, we feel we now have evidence of need for the Company to leverage our marketing efforts through national and regional commission only medical product rep firms.”

Donovan went on to say, “While net revenues may have declined a bit in Q3, net loss has also declined to its lowest level of the year, and our gross margin has increased to 68%, its best level ever. Additionally, Q3 cash collections of $575,000 was the highest of the year, bringing total cash received from our legacy business to over $15 million from inception.”

Results of Operations

Comparison of the three month period ended September 30, 2016 with the three month period ended September 30, 2015.

We recorded $782,276 in gross revenue for the three months ended September 30, 2016, offset by $323,318 of the expected settlement discount resulting in net revenue of $458,958. For the same period in 2015, gross revenue was $1,110,533, offset by $597,770 of the expected settlement discount, resulting in net revenue of $512,763. We ceased providing collection services to the San Antonio diagnostic center during the first quarter of 2016, and accordingly had no revenue in San Antonio for the three months ended September 30, 2016 versus the same quarter in 2015. This is the primary reason for the above decline in gross revenue between those two periods. Net revenue as a percentage of gross revenue increased to 58.7% for the three months ended September 30, 2016 from 46.2% for the three months ended September 30, 2015 due to a higher collection percentage in the 2016 quarter. We are currently providing technology and funding services to five spine injury diagnostic centers in the United States, which are located in Houston, Texas; Odessa, Texas; Tyler, Texas; El Paso, Texas; and Dallas, Texas.

Service cost was $146,314 for the three months ended September 30, 2016 compared to $221,557 for the same period in 2015. The decrease is due mainly to lower volume.

During the three months ended September 30, 2016, we incurred $459,126 of operating, general and administrative expenses compared with the $409,532 for the same period in 2015. The increase is attributable to increases in (i) travel costs of approximately $19,000, (ii) marketing costs of approximately $29,000, (iii) depreciation and amortization expense of approximately $3,000, (iv) payroll and benefit costs of approximately $10,000, (v) legal expenses of approximately $3,000 and (vi) office and operating expenses of $9,000, coupled with a decreases of (i) approximately $18,000 in consulting costs, and (ii) approximately $5,000 in subscriptions costs.

During the three months ended September 30, 2016, we incurred $18,862 of research and development expenses compared with $89,512 for the same period in 2015. The decrease is attributable to costs incurred during the three months ended September 30, 2015 for engineering and testing fees to verify the Quad Video Halo (“QVH”) meets certain standards. Our patented (Patent No. 9,084,577) technology meets UL compliance with specific immunity and emissions standards required by IEC 60601-1-2-2007.

As a result of the aforementioned, we had a net loss of $178,401 for the three months ended September 30, 2016, compared to a net loss of $219,674 for the three months ended September 30, 2015.

Conference Call Details

Conference Call: An investor conference call with management will be held on Monday, November 14, at 4:20 p.m. EST. 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.

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/4102389312293044484 or if the above link doesn’t work, please try the following:

http://www.joinwebinar.com Webinar ID: 374-886-779

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: http://youtu.be/n7b1VHDwwD4
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 (631) 992-3221
Participant Access Code: 421-404-045

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://SpineInjurySolutions.com

About Spine Injury Solutions, Inc:

We are a technology, marketing, billing, and collection company facilitating diagnostic services for patients who have sustained spine injuries. In addition, we are developing QVH programs to assist surgeons and other healthcare providers with treatment documentation in specialized areas, such as spine injuries and regenerative medicine. We deliver turnkey solutions to spine surgeons, orthopedic surgeons and other healthcare providers who treat spine injuries. Our goal is to become a leader in providing technology and monetizing services to spine and orthopedic surgeons and other healthcare providers. By monetizing the providers’ accounts receivable, patients are not unnecessarily delayed or prevented from obtaining needed treatment. After a patient is billed for the procedures performed we oversee collection.

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.:

In addition, we are the owners and developers of the patented and CE Certified Quad Video HALO™ and HALO Rx™, a highly scalable video integrated operating room technology that meets the demands of medical practices and major hospital systems using our latest VideoTeleShare hardware/software advancement in providing video transparency to both invasive and minimally invasive medical procedures.

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 on 3rd Quarter Financial Results

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Spine Injury Solutions Schedules Interactive Conference Call to Present 3nd Quarter 2016 Financial Results and Provide Business Development Update

HOUSTON, November 8, 2016 — Spine Injury Solutions, Inc. (OTCQB-SPIN), a technology-driven, medical service, finance and healthcare solution company servicing the multi-billion dollar spine injury sector, today announced that it has scheduled an interactive video Investor conference call for Monday November 14, at 4:20 p.m. (EST) to discuss the Company’s financial results for Q3 2016, business initiatives and provide an update on expansion plans for its core  Injury Case funding along with the current marketing status of its patented Quad Video HALO™ v.3.0 (QVH3). Shareholders Question & Answers will follow.

Spine Injury Solutions intends to issue its Q3 2016 financial results on Monday, November 14, 2016 prior to the Conference Call.

Conference Call Details

Conference Call: An investor’s conference call with management will be held on Monday, November 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 November 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/4102389312293044484 or if the above link doesn’t work, please try the following:

http://www.joinwebinar.com     Webinar ID: 374-886-779

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: http://youtu.be/n7b1VHDwwD4

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 (631) 992-3221
Participant Access Code:  421-404-045

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.spinepaininc.com/investor-information.php

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 and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our care management 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.:

In addition, we are the owners and developers of the Patented and CE Certified Quad Video HALO™ and HALO Rx™, a Highly Scalable Video Integrated Operating Room Technology that Meets the Demands of Medical Practices and Major Hospital Systems using our latest VideoTeleShare hardware/software advancement in providing video transparency to both Invasive and Minimally Invasive medical procedures.

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 Gives Quad Video HALO™ Update

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HOUSTON, Sept. 09, 2016 (GLOBE NEWSWIRE) — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, device and healthcare solution company servicing the multi-billion dollar spine injury sector, through its Chairman/CEO Dr. William Donovan, MD is pleased to announce SPIN/QVH attendance and sponsorship at the Boston Bio Life (BBL) “Hands-On Stem Cell Therapies & Biologics for the Clinical Application of Pain Management, Chicago IL, September 10 & 11. The Workshop is being held at the Chicago Marriott Downtown Magnificent Mile Hotel.

Boston Bio life Workshop – Quad Video HALO will be a participating sponsor at this workshop. This two-day course allows the participants to experience a comprehensive and intensive learning opportunity focusing on regenerative medicine techniques and their clinical applications in pain management. Attendees are primarily interventional pain management specialists, orthopedic physicians, rehabilitation specialists, sports medicine physicians, and osteopathic doctors. Aside from presenting QVH in the forum setting before attendees, SPIN’s QVH v.3 will be featured as an integral part of the “hands on” workshops involving stem cell/spine injection procedures utilizing Quad Video Halo/ISP technologies. Each attending physician will receive a QVH recording of the cadaver procedure. Representing QVH will be SPIN CEO Dr. Donovan, QVH President, David Spencer, Matt DeGaetno, VP Sales and Marketing and Tim Donovan, VP of Business Development.

Dr. Donovan stated; “This will be the second leg of the Boston Bio Life tour QVH has sponsored. In July of this year, the QVH v.3 was introduced for the first time at the BBL, Boston Workshop to interested physicians. Of the estimated 80 Doctors in attendance at the Boston venue, we have entered into many NDA’s for possible QVH sales. As of last week, the Company now has the ability to facilitate third party financing for prospective purchasers, both loan and lease.

Donovan went on to say: “The boutique BBL Workshops around the country have a broad following of innovative doctors who grasp the need for continuously updating of new technologies. BBL’s target market is that of fast growing regenerative medicine, particularly for pain, which in most cases require a fluoroscopic C-Arm for accurate delivery. After our presentation in front of attendees, each attendee will have an opportunity to see the QVH ‘in action’ creating real time video documentation at their hands working with human cadavers.”

About Boston Bio Life

Boston BioLife is an organization that provides workshops that specialize in educational programs in the life sciences technologies for physicians and scientists interested in learning regenerative medicine. Our mission is to offer a “boutique style” forum, in which, we facilitate the understanding of emerging life sciences technologies by scientists and healthcare providers in a position to make an impact on people’s lives. Boston BioLife is proud to introduce companies and innovations that may not otherwise be recognized and to provide scientific studies and background that ensures validation.

More information on Boston Bio Life Workshops can be found at their website. www.bostonbiolife.com/

About Spine Injury Solutions, Inc:

We are a medical finance and technology company facilitating diagnostic services for patients who have sustained spine injuries. We deliver turnkey solutions to spine surgeons, orthopedic surgeons and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries. Our 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.

Additional information about the company, along with a video 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 management providers the ability to bring modern video documentation technology into the operating/treatment rooms. 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 imaging sources with several other viewpoints just outside the sterile field.

Additional information about QVH can be found at its website: 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 service 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 Increases Management Staff With Appointment of Dr. Matthew J. DeGaetano To New Position Of Sr. VP Sales & Marketing of Quad Video Halo Inc.

By | News Releases, Uncategorized | No Comments

HOUSTON, Aug. 11, 2016 (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 Dr. William Donovan, MD is pleased to announce the appointment of Dr. Matthew J. DeGaetano DC, to the newly formed position of Senior Vice President of Sales & Marketing. In this position, Dr. DeGaetano will also oversee all aspects of Sales and Marketing in SPIN’s wholly owned Subsidiary, Quad Video HALO™, Inc.

Dr. Matthew (Matt) J. DeGaetano’s Background.

A graduate of Parker Chiropractic College with an additional 300 hours of postgraduate training in the American Chiropractic Rehabilitation Association Diplomate Program, Dr. Matthew J. DeGaetano has accumulated postgraduate training in neurology, whiplash and brain traumatology, and is certified in Colossus claim evaluation software. He is a member of the American Academy of Disability Evaluating Physicians, and is also a Peer Review Medical Evaluator in the state of Texas.

Dr. DeGaetano’s areas of expertise include whiplash and brain trauma, the biomechanics of spine trauma, soft tissue injury and repair, pain and proprioceptive neurology, and the management of spine and spine-related disorders.

In the course of his 19-year professional career, Dr. DeGaetano has focused on improving communications between medical doctors and chiropractors. He has developed a series of programs with courses, seminars and training modules to educate medical professionals on the evaluation and treatment of musculo-skeletal injuries. Over the past eight years through his own consulting company, he has provided on-line and one-on-one case handling, marketing, and management to over 600 primary clients.

Dr. DeGaetano has worked with major corporations such as Federal Express, Photocircuits Corporation and Xerox on ergonomics, risk management and similar topics. He has worked with medical doctors and chiropractors all over the United States to help professionals work together across disciplinary lines for the benefit of the patients they serve. His services for professionals include training on trauma, the biomechanics of vehicular crash injuries, clinical trauma case management, and damages claim documentation issues and strategies.

Dr. Donovan stated; “One of our board members introduced us to Dr. DeGaetano as we were developing our Quad Video HALO. It didn’t take him long to share our excitement in this medical video technology and data mining device as a “hole-filling” solution for many of his 600+ consulting clients. He is respected in the medical community for his ability to bring in complex anatomical and physiological factors in the perspective of case management, decision-making and documentation in injury cases.” Donovan went on to say; “While we knew we had developed a unique transparency device in the QVH, we needed to expand our selling and marketing efforts. Since becoming an independent sales representative, Dr. DeGaetano was able to sell our first third party QVH 3.0. I cannot tell you how excited we are that Matt, realizing what upside potential we had in SPIN/QVH once additional specialized Marketing was put in place, has joined the company as Sr. VP Sales & Marketing.”

Dr. DeGaetano said; “Based on my almost two decades of providing consulting services to thousands of individuals in the Medical sector, there is no question in my mind that what SPIN/QVH has developed is a tool that can help patients receive appropriate, necessary and reasonable treatment. Having worked only for myself since entering the work force, I never thought I would see the day I would be employed by someone else. However, when Dr. Donovan approached me with the opportunity to apply my own expertise, which has been specifically in the same market as SPIN and QVH, in developing and executing the marketing plan of QVH products, I could not turn down the opportunity.”

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 and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our care management 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 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 management providers the ability to bring modern video documentation technology into the operating/treatment rooms. 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 imaging sources with several other viewpoints just outside the sterile field.

Additional information about QVH can be found at its website: 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, Inc. Reports Q2 2016 Financial Results and Reminds for Conference Call at 4:20 EDT Today

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  • New Sr. VP of Sales & Marketing Appointed
  • Q2 First Third Party Direct Sale of New QVH v.3.0
  • Q2 YoY Net Loss Reduced, -$91,987 or -$.005 PS from vs Loss of -$250,184 or -$.013 PS
  • Q2 YoY Gross Margin Increased to 66% from 59%
  • Conference Call Dial-in info provided below

HOUSTON, Aug. 11, 2016 (GLOBE NEWSWIRE) — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, and healthcare solution company servicing the multi-billiondollar spine injury sector, reports Q2 2016 financial results and will hold an interactive video Investor conference call today Thursday, August, 11, 2016, at 4:20 p.m. (EDT) to discuss the Company’s financial results for second quarter 2016 and provide an update on its current and future business initiatives. In addition, new Sr. VP of Sales & Marketing Dr. Matthew DeGaetano will be introduced.

Dr. Donovan, Chairman CEO stated, “Q2 was a busy quarter in transitioning SPIN’s wholly owned subsidiary Quad Video HALO, from a development company, to now include sales. I am happy to say by quarter’s end,we were successful in placing one QVH v.3.0 unit into service. This unit was recorded as a purchase, with an option to buy additional units in the Dallas/Ft. Worth metroplex.  This unit was placed with a seven doctor interventional pain management group.  This group has a total of four centers in the metroplex area.  A second unit was placed at a test site to explore the use of “per click” charges for QVH technology.

Donovan went on to say, “Also during the quarter, Management attended the Boston Bio Life Stem Cells / Regenerative Medicine Workshop in Boston as an exhibitor and cadaver lab participant. At the workshop, each of the attendees had the opportunity to work with the QVH 3.0 in real time on cadavers. Many of the attendees were representatives of multi-location practices.  The real-time feedback was positive with many leads now being followed up by our sales department.”

Results of Operations

Comparison of the three month period ended June 30, 2016 with the three month period ended June 30, 2015.

We recorded $892,926 in gross revenue for the three months ended June 30, 2016, offset by $358,142 of the expected settlement discount resulting in net revenue of $534,784.  For the same period in 2015, gross revenue was $1,083,138, offset by $514,965 of the expected settlement discount, resulting in net revenue of $568,173.  The decrease in revenue is attributed to lower sales volume during the quarter, primarily in the San Antonio market. We are currently providing technology and funding services with five spine injury diagnostic centers in the United States, which are located in Houston, Texas; Odessa, Texas; Tyler, Texas; Dallas, Texas and El Paso,, Texas.  Additionally, we recorded our first sale of a Quad Video Halo unit for $60,000,

Service cost was $184,789 for the three months ended June 30, 2016 compared to $232,541 for the same period in 2015.  The decrease is due mainly to lower volume.

During the three months ended June 30, 2016, we incurred $414,419 of operating, general and administrative expenses compared to $479,236 for the same period in 2015. The decrease is attributable to decreases in (i) consulting expenses of approximately $34,000, (ii) marketing costs of approximately $10,000, (iii) legal costs of approximately $14,000, (iv) travel expenses of approximately $17,000 (v) amortization costs of $5,000, coupled with an increase of approximately $12,000 in bad debt costs and other net general and administrative expenses of approximately $3,000.

During the three months ended June 30, 2016, we incurred $13,698 of research and development expenses compared with the $93,530 for the same period in 2015.  The higher cost in 2015 is attributable to the engineering and testing fees paid to verify the Quad Video Halo (“QVH”) meets the professional testing requirements for medical equipment to be used in hospitals, surgery centers, and other healthcare facilities. Similar testing was not required in 2016. We continually improve and refine the QVH resulting in additional expense.

As a result of the foregoing, we had net loss of $91,987 for the three months ended June 30, 2016, compared to a net loss of $250,184 for the three months ended June 30, 2015.

Conference Call Details

Conference Call: An investor’s conference call with management will be held on Thursday, August 11, 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 Thursday, August 11, 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/836574793530103042 Or if the above link doesn’t work, please try the following:

http://www.joinwebinar.com  Webinar ID: 152-482-787

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: http://youtu.be/n7b1VHDwwD4

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 (562) 247-8422 
Participant Access Code: 913-582-427

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.spinepaininc.com/investor-information.php

About Spine Injury Solutions, Inc:

We are a medical services and technology company facilitating diagnostic services for patients who have sustained spine injuries. We deliver turnkey solutions to spine surgeons, orthopedic surgeons and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries. Our technology and financial 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.

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.:

In addition, we are the owners and developers of the Patented and CE Certified Quad Video HALO™ and HALO Rx™, a Highly Scalable Video Integrated Operating Room Technology that Meets the Demands of Medical Practices and Major Hospital Systems using our latest VideoTeleShare hardware/software advancement in providing video transparency to both Invasive and Minimally Invasive medical procedures.

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

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Houston, Aug. 05, 2016 (GLOBE NEWSWIRE) —

Spine Injury Solutions Schedules Interactive Conference Call to Present 2nd Quarter 2016 Financial Results and Provide Business Development Update

HOUSTON, August 5, 2016 — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, device and healthcare solution company servicing the multi-billion dollar spine injury sector, today announced that it has scheduled an interactive video Investor conference call for August 11, at 4:20 p.m. (EST) to discuss the Company’s financial results for Q2 2016, business initiatives and provide an update on expansion plans for its Injury Case funding along with the current marketing status of its patented Quad Video HALO™ v.3.0 (QVH3) and HALO Rx™. Shareholders Question & Answers will follow.

Spine Injury Solutions intends to issue its Q2 2016 financial results on Thursday, August 11, 2016 prior to the Conference Call.

Conference Call Details

Conference Call: An investor’s conference call with management will be held on Thursday, August 11, 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 Thursday, August 11, 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/836574793530103042 Or if the above link doesn’t work, please try the following:

http://www.joinwebinar.com Webinar ID: 152-482-787

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: http://youtu.be/n7b1VHDwwD4

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 (562) 247-8422
Participant Access Code: 913-582-427

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.spinepaininc.com/investor-information.php

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 and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our technology and financial 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.:

In addition, we are the owners and developers of the Patented and CE Certified Quad Video HALO™ and HALO Rx™, a Highly Scalable Video Integrated Operating Room Technology that Meets the Demands of Medical Practices and Major Hospital Systems using our latest VideoTeleShare hardware/software advancement in providing video transparency to both Invasive and Minimally Invasive medical procedures.

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 Gives Quad Video HALO™ Update

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HOUSTON, July 07, 2016 (GLOBE NEWSWIRE) — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, device and healthcare solution company servicing the multi-billion dollar spine injury sector, through its Chairman/CEO Dr. William Donovan, MD is pleased to announce the 3rd party placement of two of its Quad Video HALO (QVH) units in the Dallas-Ft Worth Metroplex and El Paso TX. The Dallas area QVH v.3 was an outright sale and the El Paso is a trial of an additional new “per Use” business model. Additionally, QVH Inc., a division of Spine Injury Solutions Inc., will be presenting and demonstrating at Boston Bio Life workshop, July 16-17.
The Dallas-Ft Worth  Metroplex sale was for one QVH v.3 with an option to buy two additional units. It was placed with a seven doctor Interventional Pain Management Group who have a total of four Centers in the Metroplex area. While this group is currently doing a minimal amount of Personal Injury cases with the intention of growing the area, their main interest as of now is for Documentation and Education. This latter area also spreads to their sharing affiliation with an adjoining independent cadaver lab.

The El Paso placement is to an Ambulatory Surgery Center (ASC) which is also beginning to add personal injury cases, but primarily is adding the unit for transparency though documentation, risk reduction and education. This placement, rather than an outright sale at this time, is being looked at by the Company as a trial for an additional outlet for QVH v.3 and QVH Rx placements whereby SPIN effectively “leases” a unit to the facility and is compensated on a “per use” basis. They are also considering the addition of QVH Rx unit. Both the QVH v.3 and QVH Rx are well suited for this new business model in that both products are connected and monitored in real time to home office servers 24/7 creating instant validation when in use.

Boston Bio life Workshop – Quad Video HALO will be a participating sponsor at the “Hands–On Stem Cell Therapies and Biologics for the Clinical Application of Pain Management”, July 16-17 at the Hyatt Regency Boston Harbor Hotel. Attendees are primarily pain management specialist, orthopedic physicians, rehabilitation specialists, sports medicine physicians, osteopathic specialists and physical medicine specialists. Aside from presenting QVH in the forum setting before all attendees, SPIN’s QVH v.3 will be featured as an integral part of the “hands on” workshops involving “cutting edge” injection procedures. Representing QVH will be SPIN CEO Dr. Donovan, QVH President, David Spencer and QVH NE Director of Marketing, James Schwartz.

Dr. Donovan commented: “All new innovative products look forward to that commercial ‘first sale’, but not all achieve it. What made this first outright QVH v.3 sale to the Dallas group even more exciting was its opening the QVH v.3 to a much larger potential market then we first envisioned. While the QVH v.3 was developed to be ‘plug and play’ for the vast majority of newer generation all digital fluoroscopic C-arms, we were able to create a flawless adaptation to an earlier generation Siemens analog unit. The significance of this is a vast expansion of the potential market world-wide. I am equally excited about the El Paso ‘per use’ QVH v.3 placement in that it lowers the entry level for early adopters who are given the option to purchase the unit at any time. The innate nature of QVH being linked 24/7 to QVH home office servers and the ‘cloud’ made this a logical option for us to offer. These two placements are the early fruits of our Q1 Joint Marketing Agreement with Personal Injury Institute and Dr. DeGaeatano. I might add that Dr. DeGaeatano has also developed strong interest in QVH with several other groups, some with double digit unit potential.”

Donovan went on to say: “We are looking forward to the Boston Bio Life (BBL) Workshop late next week.  BBL Workshops around the country have a broad following of innovative doctors who grasp the need for continuously updating their grasp of new technologies. BBL’s target market is that of fast growing regenerative medicine, particularly for pain, which in most cases require a fluoroscopic C-Arm for accurate delivery. After our formal presentation in front of all attendees, each attendee will have an opportunity to see the QVH ‘in action’ creating real time video documentation at their hands working with human cadavers.”

About Boston Bio Life

Boston BioLife is an organization that provides cutting edge workshops that specialize in educational programs in the life sciences technologies for physicians and scientists interested in learning regenerative medicine. Our mission is to offer a “boutique style” forum, in which, we facilitate the understanding of emerging life sciences technologies by scientists and healthcare providers in a position to make an impact on people’s lives. Boston BioLife is proud to introduce companies and innovations that may not otherwise be recognized and to provide scientific studies and background that ensures validation.

More information on Boston Bio Life Workshops can be found at their website. www.bostonbiolife.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 and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our care management 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 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 management providers the ability to bring modern video documentation technology into the operating/treatment rooms. 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 imaging sources with several other viewpoints just outside the sterile field.

Additional information about QVH can be found at its website: 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, Inc. Reports Year Over Year 60% Revenue Increase And Return to Profit In Q1 2016 And Reminds Investors of Conference Call at 4:20 EDT Today

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  • Q1 Net Revenues Increased 60% YoY to $667,294 from $416,298 
  • Q1 YoY Net Income $53,139 or $.003 from vs Loss of $ (354,866) or ($.018) 
  • Gross Margin Increased to 66% from 52% 
  • All Revenues and Income Derived from Legacy Personal Injury Funding 
  • New Fully US and EU Certified QVH™ v.3.0 and QVH CARE™ VideoTeleShare installed in SPIN Affiliate Centers 
  • Strategic Sales & Marketing Agreement Signed with Personal Injury Institute (PII) & Northeast. Director of QVH Sales & Marketing Retained

HOUSTON, May 12, 2016 (GLOBE NEWSWIRE) — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, device and healthcare solution company servicing the multi-billion dollar spine injury sector, reports Q1 2016 financial results and will hold an interactive video Investor conference call today Thursday, May, 12 2016, at 4:20 p.m. (EDT) to discuss the Company’s financial results for first quarter 2016 and provide an update on its current and future business initiatives.

Additional Q1 2016 Highlights and Subsequent Events.

  • Completed All QVH v.3 Certification Testing Receives CE Mark for EU Sales
  • Awaiting EU Patent Pending for the sales representation of 1st EU QVH in Germany
  • Successfully Develops New Product HALO Rx™ For Full Operating Room use.
  • Developed two new leasing programs for QVH, both Affiliate & 3rd Party Sales.
  • Ended Q1 2016 with Strong Cash & Available Credit facilities in spite of QVH R&D costs
  • Significantly increased operational efficiency of Core business as seen by Improved top and bottom line, lower SG&A and strong increase in Gross Margins.
  • Signed Strategic Marketing Agreement with Certified Colossus Expert Dr. Matthew DeGaetano and his Personal Injury Institute (PII) to both expand marketing reach of QVH and “Value Add” PII training to SPIN & QVH clients to accelerate and Increase PI Settlements.
  • Added James Schwartz, experienced Sales & Marketing Rep as QVH North East Manager of Sales & Marketing.

Dr. Donovan, Chairman CEO stated; “After eight consecutive quarters of losses which coincide with Management’s decision to cease doing business in Florida and McAllen TX, causing the loss of over 70% of SPIN’s revenue base at the time, along with the beginning of upgrading & certifying QVH for 3rd party sales. Management is pleased to report positive earnings for Q1 2016. This turning to profitability is particularly noteworthy in that it was accomplished before the first sales of any 3rd Party QVH programs, proving that the core Business Model of Financing Personal Injury cases, particularly when paired with the internal Affiliate QVH 3.0, is the excellent business model we envisioned. We expect cash from QVH sales will now be the driver to fulfil and accelerate our long awaited vision of SPIN delivering exceptional growth to its shareholders.” Donovan went on to say; “I strongly suggest shareholders and other interested parties, particularly Personal Injury Attorneys and Doctors, to participate in our Conference Call, or if not possible, view the video replay on our website after the fact. Aside from meeting our new N.E. Manager of Sales & Marketing , the highlight of our call is our special guest, long time Houston based SPIN client and advocate, PI Attorney, Larry Tylka. We have provided additional information on the two below:

About James Schwartz– Jim, who joined the Company in April is based in the SE Pennsylvania and will initially be servicing the US NE Corridor. He is a Temple University Graduate with over 20 years as a Sales & Marketing Rep. He has an extensive background in External Sales of Products & Programs specifically addressing areas of interest to SPIN and QVH, to include: Personal Injury and Liability insurers as a top rep for Judicate Inc., an Arbitration & Mediation Services Company in the 1990’s working in Southern California. In early 2000’s he Joined CardioReady setting up its PA, NY and NJ territory selling Defibrillators. Moving on in the late 2000’s where he became PA Territory Sales Manager for Align Tech’s Invisalign brand where he reached “Presidents Club” status, selling and training Doctors and Staff. Most recently he was Territory Sales Manager for Transformation Enzymes, Inc. for Mid-Atlantic Region Educating and selling their Enzyme Products specifically to Chiropractors.

Jim, who with his family are long time significant shareholders of SPIN, came to us once the QVH received its final certification.  His excitement for our QVH, long sales and training experience mainly in and to our Specific Markets along with historical knowledge of our products made him a “natural” to “kick-off” our National Sales Effort. You will get to meet Jim on the Conference Call today.

About Larry Tylka Esq. -Additionally on the Conference Call, we are extremely happy to have Larry Tylka, a well-known Houston area Personal Injury Attorney who has been a long time attorney client of SPIN and strong advocate for our QVH and the Colossus™ software education and training we provide our medical and legal clients. He will address how the addition of SPIN’s Products and Services can increase settlements and judgements.  What makes Larry’s perspective even more compelling is that he started his legal profession as a Defense Attorney specifically representing PI Liability Insurance carriers before switching to the Plaintiff side.

Results of Operations

Comparison of the three month period ended March 31, 2016 with the three month period ended March 31, 2015.

We recorded $1,162,621, in gross revenue for the three months ended March 31, 2016, offset by $495,357 of the expected settlement discount resulting in net revenue of $667,264.  For the same period in 2015, gross revenue was $877,231, offset by $460,933 of standard allowance for discount, resulting in net revenue of $416,298.  Revenue was positively affected by higher revenue collection percentage of 52% vs 48% last year and more volume in 2016 due to the Tyler location not being open in the first quarter of 2015. For the three months ended March 31, 2016, we managed four spine injury diagnostic centers: Houston, Texas; San Antonio, Texas; Tyler, Texas and Odessa, Texas.  Service cost was $228,310 for the three months ended March 31, 2016 compared to $180,966 for the same period in 2015. The increase in service cost is attributable to the higher case volume since we added the Tyler location in 2016.

During the three months ended March 31, 2016, we incurred $366,513 of operating, general and administrative expenses compared with the $482,013 for the same period in 2015.  Operating, general and administrative expenses were lower for the 2016 quarter compared to 2015 primarily because of a reduction in legal expenses, payroll expenses, consulting fees, and marketing expenses totaling approximately $122,000. The higher costs for the quarter ended March 31, 2015 were mostly incurred in connection with the commercialization of the QVH. We also spent $6,149 in research and development costs as compared to $82,468 in 2015.  Overall, we had $110,519 in non-cash operating charges in 2016 compared to $132,222 in non-cash operating expenses for the three months ended March 31, 2015.

As a result of the foregoing, we had net income of $53,159 for the three months ended March 31, 2016, compared to $345,866 of net loss for the three months ended March 31, 2015.

Conference Call Details

Conference Call: An investor’s conference call with management will be held on Thursday, May 12, 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 Thursday, May 12, 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/4929194564563296769 

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

http://www.joinwebinar.com     Webinar ID: 103-330-835

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: http://youtu.be/n7b1VHDwwD4
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) 655-0060 
Participant Access Code:  775-920-041

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:

www.spinepaininc.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 and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our care management 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.:

In addition, we are the owners and developers of the Patented and CE Certified Quad Video HALO™ and HALO Rx™, a Highly Scalable Video Integrated Operating Room Technology that Meets the Demands of Medical Practices and Major Hospital Systems using our latest VideoTeleShare hardware/software advancement in providing video transparency to both Invasive and Minimally Invasive medical procedures.

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, Inc. Reports Marked Improvement in both Q4 and Year End 2015 Financial Results over 2014 and Reminds for Conference Call at 4:20 EST Today

By | News Releases | No Comments

– Q4 Net Revenues Increased 123% YoY to $694,947 from $311,910
– Q4 YoY Net Loss/Per Share Decreased from $ 665,096 (-$.036), to $ 239,693 (-$.012)
– Full Year Revenue Increase from $2,046,977 to $2,192,182 YoY
– 2015 Gross Margin Increased to 61% from 52% 2014
– Full year Net Loss YoY Decreased from -$1,692,658 in 2014 to -$1,057,604 in 2015
– Full year YoY net loss decreased from $.09 to $.05 EPS

HOUSTON, March 29, 2016 — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, device and healthcare solution company servicing the multi-billion dollar spine injury sector, reports 2015 financial results and will hold an Investor conference call on Tuesday, March, 29 2016, at 4:20 p.m. (EST) to discuss the Company’s financial results for 2015 and provide an update on its current and future business initiatives.

2015 Highlights and Subsequent Events.

  • New Funding Diagnostic Facility Added in Tyler TX
  • Quad Video HALO™ V3.0 receives final Patent
  • Completed All QVH v.3 Certification Testing Receives CE Mark for EU Sales
  • Negotiating the opening of 1st EU QVH office in Germany
  • Successfully Develops New Product HALO Rx™ For Full Operating Room use.
  • Developed two new leasing programs for QVH, both Affiliate & 3rd Party Sales.
  • Added Jeffrey Cronk DC J.D. Nationally Recognized Spine Injury Specialist to Board
  • Completed Name Change to more properly reflect current business models.
  • Ended 2015 with Strong Cash & Available Credit facilities in spite of QVH R& D costs
  • Significantly increased operational efficiency of Core business as seen by Improved top and bottom line, lower SG&A and strong increase in Gross Margins.
  • Signed Strategic Marketing Agreement with Renown Certified Colossus Expert Dr. Matthew DeGaetano and his Personal Injury Institute (PII) to both expand marketing reach of QVH and “Value Add” PII training to SPIN & QVH clients to accelerate and Increase PI Settlements.

Results of Operations

For the year ended December 31, 2015 versus 2014:

We recorded $2,192,182 in net revenues with $849,756 in costs of services and gross profit of $1,342,426 for the year ended December 31, 2015. For the year ended December 31, 2014, we recorded $2,046,977 in net revenues with $980,811 in costs of services and gross profit of $1,066,166. Revenue for 2015 was up due to a higher collection percentage experienced for our Texas affiliates.

We recognize revenue by reference to “net revenue,” which is gross amounts billed using CPT codes less account discounts that are expected to result when individual cases are ultimately settled. A discount rate of a 48% and 52%, based on settled patient cases, was used to determine net revenue during 2015 and 2014, respectively. Accordingly, we had gross revenues of $4,384,362 with net revenues of $2,192,182 for the year ended December 31, 2015, versus gross revenues of $4,239,164 with net revenues of $2,046,977 for the year ended December 31, 2014.

Expenses

For the year ended December 31, 2015 versus 2014:

Operating, general and administrative expenses for the year ended December 31, 2015 were $2,085,986 as compared to $2,443,386 for the year ended December 31, 2014. The decrease in operating expenses was primarily the result of fewer legal costs, consulting costs, and marketing costs.

Bad debt expense, included in operating, general and administrative expenses, totaled $467,600 and $300,000, respectively, for the years ended December 31, 2015 and 2014. The increase in bad debt expense is primarily attributable to our decision to discontinue doing business in Florida in 2014, which has resulted in limited personnel and affiliates in the region to assist in collection efforts. We increased the allowance related to Florida to reflect collection trends in Florida.

Other income (expense) for the year ended December 31, 2015 was an expense of $52,267 as compared to expense of $265,269 for the year ended December 31, 2014. For the twelve months ended December 31, 2015, other income of $10,234 offset by interest expenses of $62,501 resulting in the $52,267 expense. For the year ended December 31, 2014, other income was $23,219 offset by expenses of $288,488 totaling the expense of. $265,269. Included in the 2014 expenses was a non-cash charge of $56,078 for the restructuring charge of certain debt. The decrease in expense 2015 versus 2014, other than the noncash charges, is primarily attributable to the restructuring of our debt from high interest notes to our line of credit with Wells Fargo which bears interest at the 30 day London Interbank Offered Rate (“LIBOR”) plus 2%, resulting in an effective rate of 2.42% at December 31, 2015.

Net Income or Loss

For the year ended December 31, 2015 versus 2014:

Net loss for the year ended December 31, 2015 was $1,057,603 compared to net loss of $1,692,658 for the year ended December 31, 2014. Higher revenues, lower operating expenses, coupled with reduced interest costs, and lower personnel costs to develop and market the Quad Video Halo, resulted in net loss decreasing in 2015 from 2014.

(The full SEC Filing form 10K 2015 can be found at: http://www.sec.gov/cgi-bin/browse-edgar?company=Spine+Injury+Sol&owner=exclude&action=getcompany)

Spine Injury Solutions Inc. CEO, Dr. William Donovan stated, “It has been an extremely busy year for SPIN and particularly its wholly owned QVH Subsidiary. In spite of numerous unexpected delays and costs paired with the decision to expand the reach of QVH Internationally, Management is proud to have delivered a vast financial improvement over recent years in both top and bottom line. Combining our 2015 Financial Results along with the addition of two nationally renowned Personal Injury Experts to the SPIN family, Dr. Jeffery Cronk JD to our Board and Dr. Matthew DeGaetano to our Sales and Marketing effort, can only be credited to our time proven core Affiliate business model and impressive and unique Quad Video HALO product line.

2015 is the first year where our Diagnostic Affiliates were using the enhanced QVH. Though we may have handled some 20% fewer cases (due to terminating our several Florida Affiliates in early 2014) we still managed to beat the prior year top and bottom line, the later significantly; and dramatically increase our Gross Margin Year over year by some 26%. This is tangible proof of our prior belief that by using the QVH, cases would settle quicker and for higher amounts.

Secondly, further validation to the perceived efficacy and need for our unique QVH system was achieved by attracting Jeff Cronk and Matt DeGaetano, both successful expert visionaries and true victim advocates in PI field, to the SPIN Family.”

Donovan went on to say; “While everyone, including management, would like to think that such a revolutionary and needed product such as QVH, ‘should be flying off the shelf’ if it is so good, certain important points should be considered. It is a unique product being delivered by a new company in the medical diagnostics field at a time of considerable belt tightening by medical facilities. The company has taken steps to strengthen its sales and marketing efforts dealing with the QVH. With our own internal evidence based on 2015 results and the addition of Cronk and DeGaetano, we now feel we are positioned for a stronger year ahead. I encourage all interested parties to join us on our Interactive video conference call today where in addition to Management, Dr. DeGaetano and Dr. Cronk will be available for Q&A.”

Conference Call Details

Conference Call: An investor’s conference call with management will be held on Tuesday, March 29, 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 Tuesday, March 29, 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/9027192048125140484

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

http://www.joinwebinar.com Webinar ID: 118-913-691

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: http://youtu.be/n7b1VHDwwD4

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 (562) 247-8422
Participant Access Code: 790-720-725

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 and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our care management 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.:

In addition, we are the owners and developers of the Patented Quad Video HALO™, a Highly Scalable Video Integrated Operating Room Technology that Meets the Demands of Medical Practices and Major Hospital Systems using the latest Tele-Medicine hardware/software advancement in providing video transparency to both Invasive and Minimally Invasive medical procedures.

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