Versa Card is now Spine Pain Management

Spine Pain Management, Inc.Dec 1 2009

Spine Pain Management, Inc. (OTC Bulletin Board: SPIN) (the "Company") has officially changed its name from "Versa Card, Inc." to "Spine Pain Management, Inc." and has changed its trading symbol from "IGLB" to "SPIN." The name change was effected legally with the Delaware Secretary of State on November 12, 2009 and was effected in the market on November 27, 2009. William F. Donovan, M.D., the Company's Chief Executive Officer, stated: "We believe the new name better reflects the Company's current business model within the healthcare industry." The Company's Board of Directors and a majority of its stockholders approved the name change, as disclosed in a definitive Information Statement filed with the Securities and Exchange Commission ("SEC") on October 14, 2009.

Additionally, the Company has reported that its revenues for the quarter ended September 30, 2009 were $230,000. The Company derived these revenues entirely from procedures performed at its first spine treatment center, opened in Houston, Texas at the end of August, 2009. These third quarter revenues delivered net income of $119,642 or approximately $.01 a share for the quarter. With the opening of its first treatment center, the Company provides medical diagnostic services for evaluation and treatment of patients with spine injuries. The Company is currently evaluating the development of additional spine injury treatment centers in other cities. The Company intends to continue developing or acquiring businesses that will focus on the management of musculo-skeletal injuries, including pain management, medical imaging, and surgical evaluation.

Dr. Donovan stated: "Obviously, we could not be happier that the company was able to deliver significant early revenues and profits after only a few weeks of operations of its first spine treatment center. Further, we believe that this initial success can be replicated and expanded elsewhere." Dr. Donovan went on to say: "Additionally, we believe the company will generate increased revenues in the fourth quarter."