HOUSTON, May 15, 2019 (GLOBE NEWSWIRE) -- Spine Injury Solutions, Inc. (OTCQB:SPIN) today announced financial results for its Fiscal 2019 first quarter ended March 31, 2019.
Financial Highlights
- Revenues for the quarter ended March 31, 2019 were $56,700, as compared to $634,426 during the same period the prior year.
- Gross Profit was $30,952, as compared to $440,781 during the same period the prior year.
- Net loss was $387,500, as compared to net income of $90,305 for same period the prior year.
Dr. William Donovan, Chairman and Chief Executive Officer, commented, "The decrease in revenues over the last two reported quarter has forced us to make some decisions that we believe are in the best interest of shareholders and the company moving forward. At this time we have discontinued the quarterly conference call. Moreover, we are working with a number of financial institutions and banking professionals to explore options, including but not limited to alternative financings, mergers & acquisitions, and new market opportunities.”
Dr. Donovan concluded, "We filed our first quarter results on form 10Q with the Securities and Exchange Commission today. We are giving serious consideration to all the options that are currently being presented to us, and we will review all the proposals that we expect to be presented to us in the future.”
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 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.
Investor Relations Contact:
Andrew Barwicki
Phone: 516-662-9461
Email: Andrew@barwicki.com