SEC 8-K filings with transcript text
Nov 13, 2018
8-K 1 spineinj20181113_8k.htm
spineinj20181113_8k.htm
United States
Securities and Exchange Commission
Washington, D.C. 20549
Current Report
Pursuant To Section 13 or 15(d) Of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 13, 2018
Spine Injury Solutions, Inc.
(Exact name of registrant as specified in its charter)
Delaware
000-27407
98-0187705
(State Or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
5225 Katy Freeway
Suite 600
Houston, Texas 77007
(Address of principal executive office) (Postal Code)
(713) 521-4220
(Registrant's telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 13, 2018, we issued a press release announcing results for the fiscal quarter ended September 30, 2018. Also on November 13, 2018, we held a conference call to discuss these results and related matters at 11:00 a.m. Eastern Time. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
No.
Exhibit
99.1
Press release dated November 13, 2018
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
/s/ William Donovan, M.D.
By: William Donovan, M.D.
Date: November 13, 2018
Chief Executive Officer
Aug 17, 2018
8-K 1 spineinj20180817_8k.htm
spineinj20180817_8k.htm
Washington, D.C. 20549
Current Report
Pursuant To Section 13 or 15(d) Of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 15, 2018
Spine Injury Solutions, Inc.
(Exact name of registrant as specified in its charter)
Delaware
000-27407
98-0187705
(State Or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
5225 Katy Freeway
Suite 600
Houston, Texas 77007
(Address of principal executive office) (Postal Code)
(713) 521-4220
(Registrant’s telephone number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On August 15, 2018, we issued a press release announcing results for the fiscal quarter ended June 30, 2018. Also on August 15, 2018, we held a conference call to discuss these results and related matters at 10:30 a.m. Eastern Time. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
No.
Exhibit
99.1
Press release dated August 15, 2018
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
/s/ William Donovan, M.D.
By: William Donovan, M.D.
Date: August 16, 2018
Chief Executive Officer
May 15, 2018
2 ex99-1.htm
Exhibit 99.1
Spine Injury Solutions Announces Results for the Fiscal First Quarter Ended March 31, 2018
HOUSTON, May 14, 2018 (GLOBE NEWSWIRE) -- Spine Injury Solutions, Inc. (OTCQB:SPIN), today announced financial results for its Fiscal 2018 first quarter ended March 31, 2018.
Financial Highlights
Ø
Revenues for the quarter ended March 31, 2018 increased 26% to $634,426, as compared to $501,163 during the same period the prior year.
Ø
Gross Profit increased 28% to $440,781, as compared to $344,359 during the same period the prior year.
Ø
Net income was $90,305, as compared to a loss of $49,389 for same period the prior year.
Dr. William Donovan, Chairman and Chief Executive Officer commented, “I am pleased to announce the first quarter was a period filled with opportunities for us due to our aggressive sales and marketing efforts we implemented in 2017. Throughout the quarter our affiliate programs continued to garner what we believe is increasing interest from our unique services. We continued to introduce our Quad Video Halo to our target markets and through these efforts we’ve been focusing on numerous applications to enhance our knowledge of the challenges encountered in these markets that require innovative solutions where the Quad Video Halo can play a central role. We continue to incorporate this input to ensure that we are meeting the specific needs of market applications in the most flexible manner.”
Results of Operations
For the Quarter ended March 31, 2018.
Comparison of the three month period ended March 31, 2018 with the three month period ended March 31, 2017.
We recorded $1,058,124 in gross revenue for the three months ended March 31, 2018, offset by $423,698 of the variable consideration discount resulting in net revenue of $634,426. For the same period in 2017, gross revenue was $831,320, offset by $330,157 of the variable consideration discount, resulting in net revenue of $501,163. For the three months ended March 31, 2018, we worked with four spine injury diagnostic centers: Houston, Texas; Tyler, Texas; Odessa, Texas and Las Cruces New Mexico. Service cost was $193,645 for the three months ended March 31, 2018 compared to $156,804 for the same period in 2017. The increase in service cost is attributable to the higher case volume in Odessa, coupled with our Las Cruces affiliate recording revenue for the first time in the first quarter of 2018.
During the three months ended March 31, 2018, we incurred $349,273 of operating, general and administrative expenses compared to $382,028 for the same period in 2017. Operating, general and administrative expenses were lower or the 2018 quarter compared to 2017 primarily because of a decrease in consulting fees, website planning expense and payroll expenses, website planning fees, and traveling expenses totaling approximately $48,000, coupled with increases in bad debt expense, travel expense, rent, legal expenses and other expenses of $15,000. The higher consulting costs for the quarter ended March 31, 2017 were mostly incurred in connection with the marketing of the QVH. There were no research and development costs during the quarter ended March 31, 201 2017. We also experienced an increase of $8,081 in non-cash operating charges from $46,827 for the three months ended March 31, 2017 to $54,908 for the three months ended March 31, 2018.
As a result of the foregoing, we had net profit of $90,305 for the three months ended March 31, 2018, compared to a net loss of $49,389 for the three months ended March 31, 2017.
Liquidity and Capital Resources
For the three months ended March 31, 2018, cash provided in operations was $5,068 which primarily included increases in accounts receivable of $74,201, increase of inventory of $15,782 and increases in prepaid expenses of $27,750, related party payables of $18,222 and accounts payable of $4,190. For the same period in 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. We used no cash in investing activities for the three months ended March 31, 2018 and 2017.
Cash used in financing activities for the three months ended March 31, 2018 and 2017 consisted of repayments on our notes payable in the amount of $25,000 and $50,000, to two separate parties respectively. We collected $560,343 and $419,086 in settlements during the three months ended March 31, 2018 and 2017, respectively.
Conclusion
Dr. Donovan concluded, “We remain committed to developing long-term partnerships, increasing revenues, generating positive cash flow and remaining profitable. We are focused on establishing new strategic relationships, as well as pursuing unique opportunities with our current partners and potential affiliates. Our emphasis for the remainder of the fiscal year will be on maximizing our sales and marketin
This page provides Bimergen Energy Corporation Common Stock (BESS) earnings call transcripts from SEC 8-K filings along with AI-powered predictions for post-earnings price movements. Our machine learning models analyze historical earnings data, pre-earnings price patterns, volume changes, and volatility to predict 1-day, 5-day, and 20-day returns after each earnings release.
Earnings transcripts are sourced directly from SEC EDGAR filings. Predictions are generated using gradient boosting models trained on BESS's historical earnings reactions. All predicted returns are shown as percentages, and predicted prices are calculated from the closing price at the time of prediction. Past performance does not guarantee future results.