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SPIN.. $0.6128... Reports Record Q1 2010 Financial Results

Spine Pain Management, Inc. Reports Record Q1 2010 Financial Results

Market Wire - May 12 at 20:55

Company Symbols: NASDAQ-OTCBB:SPIN

Q1 Revenues, $1,452,133 vs. Nil, Q1 2009, Q1 Net Income $355,123 vs. Loss of $656,874, Q1 2009; Q1 Quarter Revenues Almost Doubled Prior Quarter's $753,436


HOUSTON, TX -- (MARKET WIRE) -- 05/12/10 -- Spine Pain Management, Inc. (OTCBB: SPIN) is pleased to report financial results for the first quarter ending March 31, 2010. Spine Pain Management, Inc. began operations of its first clinic in Houston, Texas in late August, 2009. Revenues for Q1 ending, Mar. 31, 2010 almost doubled to $1,452,133 over the prior quarter posting net income of $355,123 or $.02 per fully diluted share. In the same quarter last year the company reported no revenues and a loss of $656,874.

William F. Donovan, M.D., the company's Chief Executive Officer, stated, "We are very pleased with the company's progress for the first three months of 2010 which far exceeded our original business plan's top line by over a half million dollars with all revenues coming from our home office clinic. We anticipate opening a second clinic before the end of this second quarter. Details are being finalized and will be reported as soon as completed. The company anticipates adding at least two additional spine treatment clinics in Q3, 2010 and 4 to 6 additional clinics in the next 12 months." Dr. Donovan went on to say, "I am also happy to add that in April, 2010, we agreed to the settlement of a pending lawsuit, which will result in the return of 625,000 shares of common stock to the company."

Details of our financial results can be found on our Q1 Form 10-Q filed with the SEC at http://www.sec.gov.

About Spine Pain Management, Inc.:

Spine Pain Management, Inc. is a medical marketing, management, billing and collection company facilitating treatment for patients who have sustained spine injuries resulting from traumatic accidents. 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 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.

Contact:

Spine Pain Management, Inc.
William F. Donovan, M.D.
CEO and Director
713-521-4220
[e-mail]