Spine Pain Management, Inc. Delivers Positive Net Income in Its Third Quarter.
November 23 2009 - 12:18PM
PR Newswire (US)
HOUSTON, Nov. 23 /PRNewswire-FirstCall/ -- Versa Card, Inc. (OTC
Bulletin Board: IGLB), doing business as Spine Pain Management,
Inc. (the "Company"), reported that its revenues for the quarter
ended September 30, 2009 were $230,000. The Company derived these
revenues entirely from procedures performed at its first spine
treatment center, opened in Houston, Texas at the end of August,
2009. These third quarter revenues delivered net income of $119,642
or approximately $.01 a share for the quarter. With the opening of
its first treatment center, the Company now provides medical
diagnostic services for evaluation and treatment of patients with
spine injuries. The Company is currently evaluating the development
of additional spine injury treatment centers in Texas. The Company
intends to continue developing or acquiring businesses that will
focus on the management of musculo-skeletal injuries, including
pain management, medical imaging, and surgical evaluation. The
Company's 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 health conditions can be
prevented from escalating, 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.
William F. Donovan, M.D., the Company's Chief Executive Officer,
stated: "Obviously, we could not be happier that the company was
able to deliver significant early revenues and profits after only a
few weeks of operations of its first spine treatment center.
Further, we believe that this initial success can potentially be
replicated and expanded elsewhere." Dr. Donovan went on to say:
"Additionally, we believe the company will generate increased
revenues in the fourth quarter." Full financial results for the
Company's quarter ended September 30, 2009, as reported to the U.S.
Securities and Exchange Commission, can be accessed through the
Company's website, http://www.spinepaininc.com/ or at
http://www.sec.gov/ 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. Contacts: Spine Pain Management, Inc. William F.
Donovan, M.D. CEO and Director 713-453-8851 DATASOURCE: Versa Card,
Inc. CONTACT: William F. Donovan, M.D., CEO and Director of Spine
Pain Management, Inc., +1-713-453-8851, Web Site:
http://www.versacard.net/ http://www.spinepaininc.com/
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