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While there was a decrease in patient visits and revenue, our implementation of advanced telemedicine therapy, acceleration of expense synergies, and utilization of government-sponsored aid helped us avoid a catastrophic reduction in business. These forward-looking statements, and terms such as “anticipate,” “expect,” “believe,” “may,” “will,” “should” or other comparable terms, are based largely on IMAC's expectations and are subject to a number of risks and uncertainties, certain of which are beyond IMAC's control. Your #1 finance destination to track the markets and the economy. IMAC owns or manages 16 outpatient clinics that provide regenerative, orthopedic and minimally invasive procedures and therapies. Apple's still-in-beta operating systems will automatically redirect News+ subscribers to the Apple News app when they click on links from a News+ publisher. IMAC’s outpatient medical clinics emphasize its focus around treating sports and orthopedic injuries without surgery or opioids. Its services include medical treatments, regenerative medicine, physical medicine, physical therapy, spinal decompression and chiropractic manipulation. U.S. consumer sentiment index edges up to 72.8 in August from 72.5 We have already witnessed a recovery in business as evidenced in same-store visit growth of 7% in June 2020 as compared to June 2019,” noted Jeffrey Ervin, IMAC’s Chief Executive Officer.“In addition, we received clearance to initiate a Phase 1 clinical trial of our umbilical cord-derived allogenic mesenchymal stem cells to improve movement for Parkinson’s disease patients. We would like to thank the FDA for the collaborative process and the partners who helped us achieve this milestone, including patient advocate, Doug Oliver and his team at Regenerative Outcomes.”The Phase 1 trial will consist of three treatment protocols: five patients with bradykinesia due to Parkinson’s will receive a low dose intravenous infusion of stem cells, five patients will receive a medium dose intravenous infusion of stem cells and five patients will receive a high dose intravenous infusion of stem cells. This decrease was primarily due to the impact of COVID-19. This has the potential to not only expand proprietary service options for neurological patients, but also advance the way physically debilitating inflammatory conditions are managed as a whole. The Company’s new study is designed to confirm this belief and support the Company’s long-term strategy for the use of regenerative medicine in combination with physical rehabilitation to reduce the effect of movement-restricting diseases.“Our regenerative rehabilitation centers have long focused on the importance of finding and applying non-opioid, non-surgical solutions to physical ailments in orthopedics.
Access real-time stock information and investment updates to stay on top of the market. Want to help an unemployed bartender during the pandemic? IMAC HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) Common Stock Additional Non- Number of Shares Par Paid-In- Capital Controlling Interest Accumulated Deficit Total Balance, December 31, 2018 4,553,623 $4,534 $1,233,966 $(1,625,840) $(3,544,820) $(3,932,160) Common stock issued for initial public offering proceeds, net of related fees 850,000 850 3,503,314 - - 3,504,164 Issuance of common stock in connection with convertible notes 449,217 449 2,245,636 - - 2,246,085 Issuance of common stock in connection with acquisitions 1,410,183 1,410 7,247,798 - - 7,249,208 Exercise of warrants 9,900 10 49,490 - - 49,500 Net loss - - - (431,223) (1,599,187) (2,030,410) Balance, March 31, 2019 7,252,923 7,253 14,280,204 (2,057,063) (5,144,007) 7,086,387 Issuance of common stock in connection with acquisitions 1,002,306 1,002 4,072,436 - - 4,073,438 Exercise of warrants 61,569 62 307,783 - - 307,845 Issuance of employee stock options - - 16,216 - - 16,216 Net loss - - - (295,733) (1,900,768) (2,351,875) Balance, June 30, 2019 8,316,798 $8,317 $18,676,639 $(2,352,796) $(7,044,775) $9,287,385 Common Stock Additional Non- Number of Shares Par Paid-In- Capital Controlling Interest Accumulated Deficit Total Balance, December 31, 2019 8,913,258 $8,907 $20,050,634 $(2,080,199) $(10,042,050) $7,937,292 Issuance of common stock 1,095,840 1,096 1,376,122 - - 1,377,218 Issuance of employee stock options - - 38,359 - - 38,359 Net loss - - - (336,604) (1,733,545) (2,070,149) Balance, March 31, 2020 10,009,098 10,003 21,465,115 (2,416,803) (11,775,595) 7,282,720 Issuance of common stock 1,830,875 1,831 2,576,820 - - 2,578,651 Issuance of employee stock options - - 37,569 - - 37,569 Net income (loss) - - - 55,576 (2,030,688) (1,975,112) Balance, June 30, 2020 11,839,973 $11,834 $24,079,504 $(2,361,227) $(13,806,283) $7,923,828 See accompanying notes to unaudited condensed consolidated financial statements. In 2017, our neurosurgeon researched opportunities to apply stem cells to treating Parkinson’s, and we put a team together to design a treatment for our neurological patients that simply could not achieve maximum benefit from physical therapy alone,” commented Jeffrey Ervin, IMAC’s Chief Executive Officer. But as of 1st resistance point, this stock is sitting at 2.3020 and at 2.9840 for 2nd resistance point. Find the latest IMAC Holdings, Inc. (IMAC) stock quote, history, news and other vital information to help you with your stock trading and investing. Its services include medical treatments, regenerative medicine, physical medicine, physical therapy, spinal decompression and chiropractic manipulation.
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