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

Spine Injury Solutions Reports Q1 2017 Financial Results And Updates And Reminds For Interactive Video Conference Call 4:20 ET Today

By | News Releases | No Comments

HOUSTON, May 15, 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 Q1 2017. The company has also scheduled an interactive video Investor conference call for Today, Monday May 25, 2017 at 4:20 p.m. (EST) to discuss the Company’s financial results for Q1, 2017. We plan to discuss the new Nationwide Affiliate Expansion Roll-out for its core Personal Injury Case funding along with the current marketing status of its patented Quad Video HALO™ v.3.0, Shareholders Question & Answers will follow.

Dr. William Donovan, Chairman/CEO Commented; “Earlier this year, management made the decision to focus this year on expanding our  profitable core business model of funding Spinal Injury medical procedures through our  affiliates. This model that has generated over 8,500 procedures over seven years, a gross return of some $16.5 million cash collected while awaiting additional settlement, in total creating a favorable return of approximately 150%.  This strategy  requires a branded, standardized and scalable program for expansion. As reported on YE 16 call, such a major step was not going to happen overnight. Since that time, a lot has been accomplished, both from standardizing documentation to include compiling  Affiliate Operations Manual and legal affiliate agreements. Donovan went on to say, “Around the time of the last conference call, the Company announced the soon opening of a new Affiliate Center in Lubbock Texas at the suggestion of one of Texas’ largest personal injury law firms. Though the announcement was preliminary and had little detail, the local Lubbock newspaper picked up on the announcement attracting other Doctors and  local law firms who had heard of SPIN and its Quad Video HALO™ and already are referring patients. Though such a short time, more than a dozen Lubbock patients have already been referred. With response such as we have witnessed in Lubbock, the Company has set a target to add as many as ten to twelve Affiliates over the next 18 months. It is not unrealistic to assume that a goal of 25 Spinal Procedures a month after six to twelve months is achievable. Now with the groundwork laid for this expansion, we think  the time is right to consider adding a top level executive as Chief Operating Officer position to assist in development. I invite all interested parties to attend our Q1 2017 Interactive Video Conference Call or view its replay which will be out by tomorrow morning.”

Results of Operations

For the Quarter ended March 31, 2017.

Comparison of the three month period ended March 31, 2017 with the three month period ended March 31, 2016.

We recorded $831,320, in gross revenue for the three months ended March 31, 2017, offset by $330,157 of the expected settlement discount resulting in net revenue of $501,163.  For the same period in 2016, gross revenue was $1,162,621, offset by $495,357 of expected settlement discount, resulting in net revenue of $667,264.  Revenue was negatively affected by the closing of the San Antonio affiliate in 2016. For the three months ended March 31, 2017, we managed three spine injury diagnostic centers: Houston, Texas; Tyler, Texas and Odessa, Texas. Lubbock, Texas will become active in the second quarter of 2017. Service cost was $156,804 for the three months ended March 31, 2017 compared to $228,310 for the same period in 2016.

During the three months ended March 31, 2017, we incurred $382,028 of operating, general and administrative expenses compared to $366,513 for the same period in 2016.  Operating, general and administrative expenses were higher for the 2017 quarter compared to 2016 primarily because of an increase in consulting fees, payroll expenses, website planning fees, and traveling expenses totaling approximately $77,000, coupled with reductions in bad debt expense, legal fees, rent, and other expenses of $61,000. The higher consulting costs for the quarter ended March 31, 2017 were mostly incurred in connection with the expansion of our Affiliate Program and marketing of the QVH. There were no research and development costs during the quarter ended March 31, 2017 as compared to $6,149 in 2016.  We also experienced a decrease of $63,692 in non-cash operating charges from $110,519 for the three months ended March 31, 2016 to $46,827 for the three months ended March 31, 2017.

As a result of the foregoing, we had net loss of $49,389 or $.002 per share for the three months ended March 31, 2017, compared to $53,159, $.002 of net income for the three months ended March 31, 2016.

Liquidity and Capital Resources

For the three months ended March 31, 2017, cash used in operations was $93,553 which primarily included decreases in accounts receivable of $4,080 and increases in prepaid expenses of $27,750, related party payables of $44,066 and accounts payable of $23,255.  For the same period in 2016, cash used in operations was $26,595, which primarily included increases in accounts receivable of $154,533, inventories of $2,916, prepaid expenses of $27,750, and a decrease in accounts payable of $33,010, partially offset by net income of $53,159 and an increase of $27,936 in due to related party.  We used no cash in investing activities for the three months ended March 31, 2017 and 2016.

Cash used in financing activities for the three months ended March 31, 2017 and 2016 consisted of repayments on our notes payable in the amount of $50,000 and $20,000, respectively. We collected $419,086 and $512,729 in settlements during the three months ended March 31, 2017 and 2016, respectively.

Conference Call Details 

Conference Call: An investor’s conference call with management will be held on Monday, May 15, 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 May 15, 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/1432887234380451075

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

http://www.joinwebinar.com     Webinar ID: 449-873-123

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 (914) 614-3221 
Participant Access Code:   255-540-580

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. 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

Spine Injury Solutions, Inc. (SPIN) Schedules Interactive Conference Call to Present 1st Quarter 2017 Financial Results and Provide Business Development Update

By | News Releases | No Comments

HOUSTON, May 09, 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, today announced that it has scheduled an interactive video Investor conference call for Monday May 15, at 4:20 p.m. (EST) to discuss the Company’s financial results for Q1 2017, business initiatives and provide an update on expansion plans for its core Personal Injury Case funding Affiliate Program 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 Q1 2017 financial results on Monday, May 15, 2017 prior to the Conference Call.

Conference Call Details

Conference Call: An investor’s conference call with management will be held on Monday, May 15, 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 May 15, 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/1432887234380451075

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

http://www.joinwebinar.com Webinar ID: 449-873-123

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 (914) 614-3221
Participant Access Code: 255-540-580

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 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. 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

Spine Injury Solutions reports YE 2016 financial results and reminds for conference call 4:20 ET Today

By | News Releases | No Comments

March 28, 2017 16:05 ET | Source: Spine Injury Solutions, Inc.

HOUSTON, March 28, 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 year ending December 31, 2016 and that it has scheduled an interactive video investor conference call for today, Tuesday, March 28, 2017 at 4:20 p.m. (EDT) to discuss the company’s financial results for YE 2016, its new nationwide affiliate expansion roll-out for its case funding along with the current marketing status of its patented Quad Video HALO™ v.3.0, shareholders Question & Answers will follow.

2016 Highlights and Subsequent Events

  • New National Affiliate expansion program initiated targeting 6-8 affiliates over next 12-18 month
  • Affiliate added in Lubbock, TX
  • SVP of Sales & Marketing, Dr. Matthew DeGaetano appointed
  • Quad Video HALO™ V3.0 EU Patent Pending
  • $15 Million collections milestone passed, ending with $16.1 Million
  • Developed two new leasing programs for QVH 3rd Party Sales.
  • Ended 2016 with strong cash & available credit facilities
  • Increased operational efficiency of core business as seen by improved top and bottom line, lower SG&A and strong increase in Gross Margins.

2016 Financial Highlights

  • YoY Cash Provided from Operations provided to $202,616 as compared to $429,297
  • 2016 Gross Margin Increased to Record 68% from 61% 2015
  • Full year net loss YoY decreased from 2015 of  $1,057,604  to  this  year of  $745,945
  • Full year YoY net loss per share decreased 42% from -$.054 to -$.038 PS
  • 2016 Non-cash charges of $789,135 exceeded the 2016 $745,945 loss.

Dr. William Donovan, Chairman/CEO Commented; “While revenues were flat year over year mainly due to ending of a legacy affiliate relationship in San Antonio in 2016, overall results had several bright spots, despite the fact we are not happy with the financial results for 2016.  Our full year 2016 loss consisted  mainly of noncash charges.  Our loss per share   was reduced by some 40% in 2016. The reduction would have been greater had we not reserved an additional $500,000 in bad debt reserves to account for the decreased collections in Florida.  Cashflow had   $202,000 provided from operations compared to $429,000 use in 2015.  The best indicator for the future growth for SPIN is using  the QVH on cases and continuing as done in 2016 increasing in gross margin to 68% from 61%. The percentages of settlements we collected was higher than we originally booked which boosted our gross margin percentage.  Donovan went on to say, “While we spent a good part of last year investigating third party sales for the QVH, a near term costly endeavor, our increasing margins made us realize that our immediate plan should be to expand our case funding affiliate model. This model will be covered extensively on our conference call today.  While there is no limiting factor to affiliate growth other than cash available to fund cases, our hope for the next 12 to 18 months is to add 6 to 8 affiliates.

Results of Operations

For the year ended December 31, 2016 versus 2015:

We recorded $2,117,078 in net revenues with $689,101 in costs of services and gross profit of $1,427,977 for the year ended December 31, 2016.  For the year ended December 31, 2015, we recorded $2,192,181 in net revenues with $849,756 in costs of services and gross profit of $1,342,425.  Revenue for 2016 was down due to our center in San Antonio electing not to continue the business relationship.

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 48% based on settled patient cases, was used to determine net revenue during 2016 and 2015. Accordingly, we had gross revenues of $3,537,791 with net revenues of $2,117,078 for the year ended December 31, 2016, versus gross revenues of $4,384,362 with net revenues of $2,192,181 for the year ended December 31, 2015.  The Company realized better than expected collections during 2016 related to its outstanding accounts receivable.

Expenses

For the year ended December 31, 2016 versus 2015:

Operating, general and administrative expenses for the year ended December 31, 2016 were $2,087,266 as compared to $2,085,986 for the year ended December 31, 2015.   Operating expenses were flat primarily the result of an increase to bad debt expense offset by a decrease in legal costs, consulting costs, and marketing costs.

Bad debt expense, included in operating, general and administrative expenses, totaled $683,338 and $467,600, respectively, for the years ended December 31, 2016 and 2015. 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. While we continue to pursue all amounts owed, we increased the allowance for bad debt related to Florida accounts to reflect collection trends in Florida.

Other income (expense) for the year ended December 31, 2016 was an expense of $50,995 as compared to expense of $52,267 for the year ended December 31, 2015. For the twelve months ended December 31, 2016, other income of $7,057 offset by expenses of $58,052.  For the year ended December 31, 2015, other income was $10,234 offset by expenses of $62,501. The small decrease in expense 2016 versus 2015 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 2.77% at December 31, 2016.

Net Income or Loss

For the year ended December 31, 2016 versus 2015:

Net loss for the year ended December 31, 2016 was $755,945 compared to net loss of $1,057,604 for the year ended December 31, 2015.  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 2016 from 2015.

Liquidity and Capital Resources

For the year ended December 31, 2016 versus 2015:

During 2016, cash provided in operating activities was $202,616 as compared to $429,297 of cash used in 2015.  The increase in cash generated in operations was mainly due to an increase in collections from our spine injury diagnostic centers, especially Odessa, coupled with higher noncash charges. These provisions were offset by uses of cash for increased inventory of Quad Video Halo units.  Our settlement collections totaled $2,378,793 in 2016 compared to $2,193,094 in 2015.

During the year ended December 31, 2016, we did not purchase any Quad Video Halo equipment versus a purchase of similar equipment of $50,108 in 2015, resulting in cash used in investing activities.

Cash flows used in financing activities totaled $120,000 for the year ended December 31, 2016, consisting of a payment of current debt of $250,000, and $130,000 of draws on our line of credit. For the year ended December 31, 2015, cash flows provided from financing activities totaled $295,000, consisting of a payment of long-term debt of $350,000, draws of $645,000 on the line of credit.

Conference Call Details

Conference Call: An investor’s conference call with management will be held Today, Tuesday, March 28, 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 Today, March 28, 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/2875421200234286337

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

http://www.joinwebinar.com     Webinar ID: 512-328-211

Telephone Dial-in and/or VOIP which provides Q&A: To ask a question using your telephone, you must be logged in 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 new 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 and not allowed to ask questions.

Conference Dial-in Number:  1 (415) 655-0052
Participant Access Code:  274-192-784

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.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. 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

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

By | News Releases | No Comments

March 24, 2017 11:40 ET | Source: Spine Injury Solutions, Inc.

HOUSTON, March 24, 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 announced that it has scheduled an interactive video Investor conference call for Tuesday, March 28, 2017 at 4:20 p.m. (EDT) to discuss the Company’s financial results for YE 2016, its new Nationwide Affiliate Expansion Roll-out for its core Personal Injury Case funding along with the current marketing status of its patented Quad Video HALO™ v.3.0, Shareholders Question & Answers will follow.

Spine Injury Solutions intends to issue its YE 2016 financial results on Tuesday, March 28, 2017 prior to the Conference Call.

Dr. William Donovan, Chairman/CEO stated; “I wholeheartedly recommend all shareholders and interested parties to join our Webinar Conference Call. As you may already have noticed by recent announcements, website updates, team additions and improved performance of our share price, major advances are now underway. The new initiatives will be presented along with Introduction of new active team members on this CC.”

Conference Call Details

Conference Call: An investor’s conference call with management will be held on Tuesday, March 28, 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 28, 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/2875421200234286337
or if the above link doesn’t work, please try the following:

http://www.joinwebinar.com     Webinar ID: 512-328-211

Telephone Dial-in and/or VOIP which provides Q&A: To ask a question using your telephone, you must be logged in 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 new 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 and not allowed to ask questions.

Conference Dial-in Number:  1 (415) 655-0052
Participant Access Code:  274-192-784

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 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. 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 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 imaging 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 Inc. announces new Lubbock, TX affiliate location

By | News Releases | No Comments

Houston, March 20, 2017 (GLOBE NEWSWIRE) — Spine Injury Solutions, Inc. announces Lubbock TX affiliate location under its new affiliate expansion program.

HOUSTON, March 20, 2017 — Spine Injury Solutions, Inc., Inc. (OTCQB:SPIN), a technology-driven, medical service, and healthcare solution company servicing the multi-billion dollar spine injury sector, today announced the addition of a new affiliate program to be located in Lubbock, TX.

Seven years ago, SPIN initiated its first affiliate program in Houston TX whereby SPIN would provide funding assistance to independent healthcare providers who provide diagnostic and treatment procedures for patients with spine injury accidents. In many cases the reimbursements for these medical treatments took several years, depending on the settlement timing of the case. For these reasons, SPIN developed programs to fund the affilates case billings after the procedure is completed at a discount and assume risk of future collection. During these seven years, while averaging three affiliates, over 8,300 procedures have been funded generating some $25 million in reported net revenues for SPIN. Actual cash collections to date from SPIN funded cases have exceeded $16 million.

Why SPIN Is Now Expanding Its Affiliate Program Nationally

In early 2014, SPIN began beta testing of a unique video transparency and documenting device called Quad Video HALO™ (QVH). In 2015 it received its US Patent on the QVH and began Medical Safety Certification Testing. In 2016, 3rd Party Testing was successfully completed and the QVH became certified for Medical use in both the US and EU. Since adding the QVH to its affiliate program, almost 2,500 cases have been funded. Included in the new affiliate Program is training based on SPIN’s business model. In many cases, there is minimal cash outlay to the independent healthcare providers other than a monthly cloud storage for all procedures involving the QVH. The independent healthcare provider may offer SPIN the option to fund all cases which used the QVH. SPIN has been advised by some attorneys that the use of the QVH helps expedite the settlement of the case.

William F. Donovan, M.D., Chairman CEO of Spine Injury Solutions, Inc., said, “Costs associated with accident victims total in the hundreds of millions of dollars annually. Much of this cost is attributable to delayed or improper early diagnosis of the injury causing unnecessary, long term problems and costs. With over 40 years’ experience as a Board Certified Orthopedic surgeon, I have evaluated many cases that would not have required unnecessary treatments if early diagnosis would have been made. I came to the conclusion that lack of proper ‘tools’ rather than medical incompetency was the cause in the delay for patients to receive appropriate, necessary, and reasonable treatment. This led to the development of the SPIN affiliate program with its appropriate protocols and most importantly, the QVH.”

.Having been one of the first surgeons in the country to use video in arthroscopic surgery, I felt there was a need to provide video documentation for accident victim procedures. For this reason, SPIN has invested some $2.5 million in developing and putting into service its proprietary QVH v.3. To date the QVH has been used on some 2,500 cases providing transparency for procedures performed.

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. 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 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 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. Initiates Advisory Board

By | News Releases | No Comments

HOUSTON, March 6, 2017 — 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 formation of Advisory Board with Texas based Personal Injury (PI) Law Specialist, Lawrence M. Tylka as Chairman. Additional members are expected to be empaneled over the next several weeks.

Tylka, founder of the Tylka Law Firm, has practiced in the Houston TX area for over 34 years having begun his PI career as a defense attorney representing major liability insurance companies. Tylka left the defense firm to join a very successful personal injury law firm in 1987. He eventually became the managing attorney of that firm on Galveston Island. In August of 1998, Larry started his own law firm on Galveston Island. While the office may be located on Galveston Island, he has been able to enjoy a statewide practice and handle cases in other states and participate in the handling of cases in other countries such as Mexico and Honduras.

The decision by SPIN to form the Advisory Board with Tylka as head was made by management based on Tylka’ strong passion for, and highly successful use of SPIN’s Quad Video HALO (QVH) over the past two years from the beginning of Beta testing. As a former Personal Injury defense attorney and subsequently multi-year member of the “Million Dollar Advocates Forum” representing injury victims, Tylka is a strong advocate willing to publically share his strong endorsement of QVH. He is openly willing to share that QVH is the tool that has significantly increased his victim’s settlements and considerably reduced time to resolution. But even more important, he feels that with the use of QVH, comfort is being provided victims that “Best Practices of Medicine” are being observed and documented though SPIN’s proprietary QVH Video protocol. To quote Tylka at a recent meeting; “Once made aware of it, I can’t see why any Personal Injury attorney would not want to use QVH.”

Dr. Donovan stated; “I have known and worked with Larry for many years. With his vast experience in personal injury law, from both initially as an Insurance Industry advocate and now an advocate for the victim, his advice, guidance and perspective contributed in the development of the QVH has been invaluable. Investors first heard from Larry as guest panelist on our Q1, 2016 Investors Conference Call heaping accolades on SPIN based on his own successful use of the QVH video in expediting case settlements at considerably higher levels than before. Since that time, his selfless willingness to help ‘spread the word’ of his success to the legal community has given us confidence that the time was now right to expand our very successful local ‘Affiliate’ program nationally. His willingness to ‘attach’ his name and reputation, directly to SPIN and QVH, by “chairing” our new Advisory Board, is solid testimony to the quality and potential of SPIN’s new Affiliate program as it rolls out.”

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 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

CONTACT: William Donovan
713 521-4220

Spine Injury Solutions Inc. unveils well received Affiliate Expansion Program at Personal injury Seminar in Atlanta

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Houston, Feb. 17, 2017 (GLOBE NEWSWIRE) —

Spine Injury Solutions, Inc. (SPIN) unveils well-received Affiliate Expansion Program at seminar in Atlanta.

After three years in development, SPIN’s patented Quad Video HALO™ (QVH) Video Medical Records Technology (VMRT), paired with its successful seven year history of injury case financing delivered through three contracted “Affiliates”, the stage has now been set for a nationwide expansion of its unique new Affiliate Program adding a high-tech advantage to injured accident victims. 

HOUSTON, Feb. 16, 2017 (GLOBE NEWSWIRE) — Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, finance,  and healthcare solution company servicing the multi-billion dollar spine injury sector, through its Chairman/CEO Dr. William Donovan, MD is pleased to report that the Company’s attendance and speaker participation at the pre-announced James J. Mathis “Personal Injury: Understanding Colossus Seminar” in Atlanta, GA, February 11, 2017 was a success in several aspects.

The Seminar attendees, primarily made up of healthcare providers and attorneys servicing the  Personal Injury (PI) industry were introduced (most for the first time), to SPIN’s proprietary, patented, Quad Video HALO™ v3.0 and its success in facilitating patient confidence, “Best Medical Practices” and higher case settlements in shorter time for cases involving diagnostic and treatment injections. The original beta QVH first began clinic testing and trials in 2014 in Houston TX with Northshore Orthopedics (NSO), SPIN’s first “Affiliate” owned by SPIN Founder/Chairman. NSO along with several satellite locations, using SPIN’s Medical Lien financing program since 2010, had, up until the first use of QVH in 2014, financed over 6,000 diagnostic injection procedures in the conventional non-technical way similar to what the rest of the country uses today. While under continuing testing and development, the QVH received its US Patent in 2015 and its successful completion of compliance testing of the Quad Video HALO System to meet EN 60601-1 safety standard for medical equipment along with its EU approval to carry the CE Mark, in 2016.

SPIN has internally invested approximately $2.5 million in developing the QVH which has now been used and proven successful in an additional 2,400 case procedures. Early on in the testing of the QVH, second and third SPIN Affiliates were added in Midland/Odessa and Tyler, TX who contributed to the latter 2,400 procedures.

Armed with data and both medical and attorney testimonials giving clear “Proof of Concept” to the conjoining of the QVH v3.0 with conventional spine injection procedures, SPIN management made the decision in late 2016, to develop a new  Nationwide all-encompassing affiliate program to be introduced for the first time at the Atlanta seminar. New SPIN affiliates once qualified and accepted, will be trained to provide best practices, be referred cases generated by SPIN paid-for marketing, and trained in the use of SPIN’s QVH, all provided at no additional cost to their existing practices.  Once the procedures are completed, SPIN will early monetize the affiliates case billing leaving no further collection risk.

The new affiliate program capitalizes on SPIN’s unique position in having exclusive access to its patented QVH. When the decision was made in December to expand its affiliate program, the targets were to add a minimum of four affiliates, with two in Atlanta and maximum of 10 affiliates over the following year.  The company is pleased to report significant interest in the program by over 20 attendees, mostly from Atlanta, but also from four additional States making the high end of the target range appear very achievable.

Additionally –though the QVH was originally developed for internal SPIN affiliate use, while under continuing development, it was  realized that a large additional market existed. A market for instantly transportable High Definition video providing transparency could be much broader.  For example, there is a need for  a Hybrid Video Integration Platform for general surgery, not only for QVH’s own four camera video showing internal x-ray real-time view along with three external cameras, but also to piggy-back additional video devices. QVH also has built-in capabilities to plug-in any digital or analog video medical device with “video out” capabilities. Devices used in robotic, arthroscopic, microscopic, etc. surgical procedures both for risk management, or use in hospitals and cadaver labs for global education can work with the QVH. Though direct sales were not the primary target at the Atlanta seminar, management also reports significant third party, non-PI interest, in the QVH such as described above from three attendees.

Dr. Donovan stated; “On behalf of the SPIN and QVH Management, Directors and Development team, I cannot overstate how pleased we were with the reception we received from not just the attendees, but even the Sponsors and other Presenters at Atlanta. We anticipate adding and announcing new team members shortly. “

Donovan added; “For those not familiar with SPIN’s history, it should be noted that since inception some seven years ago, SPIN’s business advances to include the QVH development have been financed through its own organic revenues, sporadic third party straight debt paid off on time and some early loans by me later exchanged for shares. SPIN has never asked for, or received any outside equity financing, public or private. While I am the largest shareholder of the Company, the vast majority of my shares were either purchased in the open market or early loans I made to the Company which I converted to restricted shares at market value. The majority by far of my share purchases and/or debt conversions were at prices higher than the current share price.”

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 financing 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

CONTACT: William Donovan
713 521-4220