Spine Injury Solutions posted $56,700 in first quarter 2019 revenues, down 91 percent year over year.
What you should know:
1. SIS posted revenues of $634,426 last year.
2. Profits also fell significantly from $440,781 to $30,952, a 92 percent year-over-year decrease.
3. SIS posted a net loss of $387,500 for the quarter. Last year the company posted a net income of $90,305.
4. SIS's revenues decreased over the last two quarters. CEO William Donovan, MD, said the company would discontinue its quarterly conference call with investors and would begin exploring several strategies. Those strategies include seeking out alternative financing, a potential merger or new market opportunities.
Dr. Donovan said, "We are giving serious consideration to all the options that are currently being presented to us, and we will review all the proposals that we expect to be presented to us in the future."
5. SIS provides surgeons with turnkey solutions to provide treatment to patients who sustained spine injuries through automobile and work-related accidents.