Bimergen Energy Corp (BESS)

[10 bagger]

SPIN.. $0.70 YE earnings.. Hit out of the park.. I-Box updated..

4'th Qtr. shows profit of 208,304 on Rev's of $843,841...(24.68% PM)...

Net income for the year ended December 31, 2010 was $1,101,550 compared to a net loss of $720,526 for the year ended December 31, 2009 a change of $381,024 or 252.6%.

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ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with the audited financial statements and the related notes to the financial statements included in this Form 10-K.

Management Overview

At the end of 2008, the Company launched its new business concept of delivering turnkey solutions to spine surgeons, orthopedic surgeons and other healthcare providers for necessary, reasonable and appropriate treatment for musculo-skeletal spine injuries. Moving forward, the Company’s main focus will be on the expansion and development of spine testing centers and/or business relationships with subcontractors who own such facilities as needed by spine surgeons, orthopedic surgeons and other healthcare providers across the nation.

Results of Operations

The Company recorded $3,389,581 in net revenues with $1,425,399 in costs of services and gross profit of $1,964,182 for the year ended December 31, 2010. For the same period in 2009, the Company recorded $540,505 in net revenues with $349,400 in costs of services and gross profit of $191,105. These increases are directly attributable to revenues generated from the Company’s spine injury diagnostic centers in Houston and McAllen, Texas.

The Company recognizes revenue by reference to “net revenue,” which is gross amounts billed using CPT (Current Procedural Terminology) codes less account discounts that are expected to result when individual cases are ultimately settled. During 2009, a 45% discount rate was used, based on historical experience of similar businesses. However, in 2010, the expected collection experience was refined, based on settled patient cases, and the discount rate was increased to 48%. Accordingly, the Company had gross revenues of $6,528,194 with net revenues of $3,389,581 for the year ended December 31, 2010, versus gross revenues of $982,736 with net revenues of $540,505 for the year ended December 31, 2009.

During the twelve month period ended December 31, 2010, the Company’s operations focused on continued development of its spine injury diagnostic business in the Houston area and opening its second spine injury diagnostic center in McAllen, Texas in June 2010. During the twelve month period ended December 31, 2009, the Company’s operations focused on developing its spine injury diagnostic business and opening its first spine injury diagnostic center in Houston, Texas in August 2009.

Expenses

Operating, general and administrative expenses for the year ended December 31, 2010, were $863,399 as compared to $1,287,699 for the year ended December 31, 2009. The decrease in operating expenses was primarily the result of management’s focus on reducing operating expenses. For the year ended December 31, 2009, the Company incurred greater filing costs greater, legal and professional fees and incurred a $230,697 asset impairment loss.

Other income and expenses: Other income for the year ended December 31, 2010, was $767 as compared to $376,068 for the year ended December 31, 2009. For the year ended December 31, 2010, other income of $9,346 was offset by $8,579 of interest expense. For the same period in 2009, there was a gain from forgiveness of debt of $376,709, as well as interest expense of $641.

Net Income or Loss

Net income for the year ended December 31, 2010 was $1,101,550 compared to a net loss of $720,526 for the year ended December 31, 2009 a change of $381,024 or 252.6%.
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SPINE PAIN MANAGEMENT, INC.
STATEMENTS OF OPERATIONS
For the Years Ended December 31, 2010 and 2009

2010 2009

Net revenue $ 3,389,581 $ 540,505

Cost of providing services, including amounts paid to a related party of $1,143,699 and $349,400 during the years ended December 31, 2010 and 2009, Respectively 1,425,399 349,400

Gross profit 1,964,182 191,105

Operating expenses:
General and administrative 839,399 1,057,002
Asset impairment loss - 230,697

Total operating expenses 839,399 1,287,699

Income (loss) from operations 1,100,783 (1,096,594 )

Other income and (expenses):
Other income 9,346 376,709
Interest expense (8,579 ) (641 )

Other income 767 376,068

Net income (loss) $ 1,101,550 $ (720,526 )

Net income (loss) per common share
Basic and fully-diluted $ 0.06 $ (0.05 )

Weighted average number of common shares outstanding:
Basic and fully-diluted 17,128,690 15,849,463

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Spine Pain Management, Inc. Reports Q3 and Nine Months 2010 Financial Results

PR Newswire - Nov 16 at 09:10

Company Symbols: NASDAQ-OTCBB:SPIN

Q3 Net Revenue of $856,097 and Net Income of $267,891 or $.02 per share.
Nine Months Net Revenue of $2,545,740 and Net Income of $893,246 or $.05 per share.

HOUSTON, Nov. 16, 2010 /PRNewswire-FirstCall/ -- Spine Pain Management, Inc. (OTC Bulletin Board: SPIN), through its Chief Executive Officer, William F. Donovan, M.D., is pleased to report financial results for the third quarter ended September 30, 2010. Gross service revenues for Q3 were $1,606,757, offset in part by $750,660 of standard allowance for discount, resulting in net revenue of $856,097. Net income for Q3 was $267,891 or $.02 per share. Gross service revenues for the nine months ended September 30, 2010 were $4,791,016, offset in part by $ 2,245,276 of standard allowance for discount, resulting in net revenue of $2,545,740. Net income for the nine month period was $893,246 or $.05 per share.

Dr. Donovan stated: &;Since the operational opening of our first clinic in August of 2009, we have completed four profitable quarters. This is certainly an uncommon event for a new business that has been operating for such a short time.&; Dr. Donovan went on to say: &;We feel that we have honed our procedures and operations to a point that enables further growth. We are now in the process of expanding outside of Texas.&;

Details of Spine Pain Management, Inc.&;s financial results can be found on its Form 10-Q filed with the SEC at www.sec.gov. The Form 10-Q can also be found on the company&;s website at www.spinepaininc.com (go to the &;Investor Information&; tab and click on the &;EDGAR Filings&; link under the &;Corporate SEC Filings&; heading).

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 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 www.spinepaininc.com.