Navigation Links
Spine Pain Management, Inc. Completes $500,000 Private Placement
Date:6/29/2012

HOUSTON, June 29, 2012 /PRNewswire/ -- Spine Pain Management, Inc. (OTC QB:SPIN), a medical services and technology company, today announced that it closed on the non-brokered private placement of a 12% Convertible Promissory Note generating proceeds of $500,000.  The promissory note provides for quarterly payments of interest only with a final balloon payment of principal and interest due on March 27, 2014.  Up to half the principal amount of the promissory note may be converted after 12 months, and the remaining balance after 15 months, from the date of issue at $1.50 per share. The note holder also received two-year warrants that are exercisable into a total of 69,445 shares of the company's common stock at $1.80 per share.

The company anticipates that proceeds from the private placement will be used to add and operate an additional two affiliated diagnostic centers scheduled to open during the third quarter 2012 and for working capital.  The company currently has six affiliate centers located in Texas and Florida, the first of which was opened in September 2009.  Since inception, Spine Pain Management has managed over 3,900 diagnostic procedures.

About Spine Pain Management, 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 care 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 bring 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.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, 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 Contact:
Yvonne L. Zappulla
Managing Director
Grannus Financial Advisors, Inc.
212-681-4108
Yvonne@grannusfinancial.com

Company Contact:
John Bergeron
Chief Financial Officer
Spine Pain Management, Inc.
713-521-4220
investorinfo@spinepaininc.com


'/>"/>
SOURCE Spine Pain Management, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Zimmer Introduces First Porous Metal Interbody Implant for Lumbar Spine in the United States
2. joimax® at the Early Summer Congresses: SpineWeek Amsterdam and DGNC Leipzig
3. Midwest Orthopaedics at Rush Minimally Invasive Spine Institute Opens Today
4. Total Therapeutic Management, Inc. invites directors of quality improvement to learn secrets of provider engagement strategies
5. Quantum OPS Completes $1.05M In Series A Financing To Advance Surgical Devices
6. Ablative Solutions Completes $5.3M Series A Financing
7. Amgen Completes Acquisition of Mustafa Nevzat Pharmaceuticals
8. Jazz Pharmaceuticals Completes EUSA Pharma Acquisition
9. Savara Pharmaceuticals Completes Phase I Clinical Study of AeroVanc in Cystic Fibrosis Patients
10. Bausch + Lomb Completes the Acquisition of ISTA Pharmaceuticals
11. CryoLife Completes Acquisition of Hemosphere
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... , Feb. 5, 2016 ... the addition of the "Global Musculoskeletal ... company profile to their offering. ... the addition of the "Global Musculoskeletal ... company profile to their offering. ...
(Date:2/5/2016)... New York , February 5, 2016 ... new Transparency Market Research report states that the global ... in 2014 and is predicted to reach US$185.9 bn ... CAGR of 6.50% from 2014 to 2020. The title ... (Branded/Generic/Over-the-counter, Chemical/Biological, Captive/Contract Manufactured, by Geography, and by Therapeutic ...
(Date:2/5/2016)... , February 5, 2016 ... new market research report "Fetal (Labor & Delivery) and ... Antepartum), Warmer, Incubator, Pulse Oximeter, Phototherapy/Jaundice Management Devices, CPAP, ... by MarketsandMarkets, This report studies the global market over ... is estimated at USD 6.28 Billion in 2015 and ...
Breaking Medicine Technology:
(Date:2/5/2016)... Falls, NY & Salt Lake City, UT (PRWEB) , ... February ... ... Davis, Founder of Activz Whole-Food Nutrition , announced that the much-anticipated feature with ... on the New Really Cool Humans Amateur TV Network. , Each week, on his ...
(Date:2/5/2016)... York, New York (PRWEB) , ... February 05, 2016 , ... ... life? The answer may be at the tips of your toes. Foot massage, whether ... as well as pure comfort and relaxation. The American Board of Multiple Specialties ...
(Date:2/5/2016)... Chicago, Illinois (PRWEB) , ... February 05, 2016 ... ... advisors and independent PROSHRED franchises from across the country gathered at the La ... to recognize top performers. PROSHRED Chicago was named the year’s most outstanding ...
(Date:2/5/2016)... ... February 05, 2016 , ... Pivot Point ... Best in KLAS: Software & Services for HIT Implementation Support & Staffing report ... independently ranks vendor performance by healthcare executives, managers and clinicians representing over 4,500 ...
(Date:2/5/2016)... Viejo, CA (PRWEB) , ... February 05, 2016 , ... ... X. Move from on one drop zone to the next using Colorize's dynamic moving ... complements any project. This package includes a 3D slideshow environment with 1 to 5 ...
Breaking Medicine News(10 mins):