SOURCE: Spine Pain Management, Inc.

January 27, 2010 10:57 ET

Spine Pain Management, Inc. Gives Fourth Quarter and Full Year Guidance

HOUSTON, TX--(Marketwire - January 27, 2010) - Spine Pain Management, Inc. (OTCBB: SPIN), through its Chairman/CEO Dr. William Donovan, today issued revenue guidance for the fourth quarter and year ending Dec. 31, 2009. Spine Pain Management, Inc. began operations of its first clinic in Houston, TX late September 2009. Revenues for the three months ending Dec. 31, 2009 were approximately $730,000. This, added to the third quarter revenues of $230,000 covering five weeks of operations, will bring total year's revenues to approximately $960,000. After year end adjustments and non-cash charges, it is anticipated that fourth quarter will be profitable; however, full year will still show a loss. SEC form 10K is expected to be filed late February or early March with actual numbers.

Dr. Donovan, CEO, stated, "It has been a very productive first five months for the Company to include this current month, the first of the new year. I fully expect first quarter's numbers in our Houston clinic to exceed fourth quarter. In addition, we expect to begin receiving revenues from our expansion phase into other cities."

About Spine Pain Management:

Spine Pain Management is a medical marketing, management, billing and collection company facilitating treatment for patients who have sustained Spine Injuries resulting from traumatic injuries. Our mission is to deliver turnkey solutions to spine surgeons, orthopedic surgeons and other health care providers for necessary and appropriate treatment for musculo-skeletal spine injuries resulting from automobile and work-related accidents. The goal of the Company is to become a leader in providing care management services to spine surgeons and orthopedic surgeons to facilitate proper treatment of their injured clients. By providing early treatment, the Company believes that spine injuries can be managed, and injured victims can be quickly placed on the road to recovery. The Company believes its advocacy will be rewarding to patients who obtain needed relief from painful conditions. The Company provides a care management program that advocates for the injured victims by moving treatment forward to conclusion without the delay and hindrance of the legal process.

Additional information about the Company, along with a video can be found at its website at http://www.spinepaininc.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 and other factors over which the Company has little or no control. The Company does not intent (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.

Contact Information

  • Contact:
    Spine Pain Management, Inc.
    William F. Donovan, M.D.
    CEO and Director
    713-453-8551
    info@spinepaininc.com