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IMAC Holdings Reports Year End 2022 Financial Results and Corporate Update

Retrieved on:

Saturday, April 1, 2023

BRENTWOOD, Tenn., March 31, 2023 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC” or the “Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, today reported its financial results for the year ended December 31, 2022.

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BRENTWOOD, Tenn., March 31, 2023 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC” or the “Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, today reported its financial results for the year ended December 31, 2022.
Sold one clinic and closed four small clinics while reducing corporate salaries and headcount.
Executed a Letter of Intent to merge with Brain Scientific, Inc.
“We ended 2022 and started 2023 by taking steps to right-size the company in anticipation of executing a strategic merger.
For the year ended December 31, 2022, the Company reported cash and cash equivalents of $0.8 million, compared with approximately $7.1 million as of December 31, 2021.

IMAC Holdings, Inc announces the sale of The BackSpace

Retrieved on:

Wednesday, March 1, 2023

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BRENTWOOD, Tenn., March 01, 2023 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC” or the “Company”), announces today it has completed the sale of The BackSpace for an undisclosed price to Curis Functional Health.

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BRENTWOOD, Tenn., March 01, 2023 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC” or the “Company”), announces today it has completed the sale of The BackSpace for an undisclosed price to Curis Functional Health.
The BackSpace offers convenient and affordable spinal health and wellness services in select Walmart locations.
In addition to the sale of The BackSpace, the Company’s Chief Operating Officer, Dr. Ben Lerner, announced his resignation to pursue other interests.
The Company will not replace the COO position and Dr. Matt Wallis, President of IMAC, will continue to manage operating responsibilities for the Company’s medical clinic division.

IMAC Holdings Announces Third Quarter Results

Retrieved on:

Tuesday, November 15, 2022

BRENTWOOD, Tenn., Nov. 15, 2022 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC” “BACK” or the “Company”), today reported its preliminary financial results for the third quarter ended September 30, 2022.

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BRENTWOOD, Tenn., Nov. 15, 2022 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc.(Nasdaq:BACK) (IMAC BACK or the Company), today reported its preliminary financial results for the third quarter endedSeptember 30, 2022.
Financial and Corporate Highlights from Q3 2022:
Total Revenue increased 9% to $3.78 million, compared with $3.48 million in the third quarter 2021
The BackSpace grew visits 1,818% and 28% for the comparable and sequential quarter, respectively
The entire IMAC team worked hard to produce a solid quarter and achieved our sixth consecutive comparable quarter of revenue growth.
Additionally, we were able to reduce liabilities by $1 million during the quarter and finish the quarter with immaterial note payable balances, said Jeffrey Ervin, CEO of BACK.
As a result, we implemented a medical weight loss and hormone optimization service during the quarter which we anticipate generating material revenue during the first quarter, 2023.

IMAC Holdings Reports Record Revenue of $5M in Second Quarter

Retrieved on:

Monday, August 15, 2022

BRENTWOOD, Tenn., Aug. 15, 2022 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC” “BACK” or the “Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic and neurological treatments, today reported its preliminary financial results for the second quarter ended June 30, 2022.

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BRENTWOOD, Tenn., Aug. 15, 2022 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc.(Nasdaq:BACK) (IMAC BACK or the Company), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic and neurological treatments, today reported its preliminary financial results for the second quarter endedJune 30, 2022.
The IMAC medical clinics continued price improvements as revenue per visit increased substantially from the comparable quarter in 2021.
The BackSpace experienced over 200% sequential quarter growth, and over 1,000% same store growth from the comparable quarter.
IMAC is comprised of three business segments: outpatient medical centers, The Back Space, and a clinical research division.

IMAC Holdings, Inc. Adds Stretch Services at The BackSpace

Retrieved on:

Wednesday, August 10, 2022

BRENTWOOD, Tenn., Aug. 10, 2022 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: BACK) (“IMAC” or the “Company”), announces today the addition of stretching services at The BackSpace. The BackSpace locations now offer chiropractic care, percussion therapy, and stretching services to consumers on arrival, with scheduled appointments, or queuing their position through the BACK.co mobile app.

Key Points:

BRENTWOOD, Tenn., Aug. 10, 2022 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc.(Nasdaq:BACK) (IMAC or the Company), announces today the addition of stretching services at The BackSpace.
The BackSpace locations now offer chiropractic care, percussion therapy, and stretching services to consumers on arrival, with scheduled appointments, or queuing their position through the BACK.co mobile app.
The BackSpace medical, chiropractic, and physical therapy advisors created a series of stretches critical to motion and fighting the degenerative effects of gravity, injury, and age.
By combining the powerful effects of passive and active stretch, massage, and chiropractic, The BackSpace Performance Zones are taking a comprehensive approach to restoring musculoskeletal health.

IMAC Holdings, Inc. Announces NASDAQ Ticker Symbol Change from “IMAC” to “BACK”

Retrieved on:

Wednesday, August 3, 2022

BRENTWOOD, Tenn., Aug. 03, 2022 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc.(Nasdaq:IMAC) (IMAC or the Company), will change its ticker symbol on the NASDAQ Stock Exchange from IMAC to BACK at the open of market trading on Monday, August 8, 2022.

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BRENTWOOD, Tenn., Aug. 03, 2022 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc.(Nasdaq:IMAC) (IMAC or the Company), will change its ticker symbol on the NASDAQ Stock Exchange from IMAC to BACK at the open of market trading on Monday, August 8, 2022.
The spine is your bodys central support structure and we recognize its importance for your overall health.
We believe that changing our symbol to BACK provides greater recognition of our services and vision for assisting with optimal spinal health and whole-body wellness.
No action by the company's shareholders is required with respect to the symbol change.

IMAC Holdings, Inc. Announces Initiation of Third and Final Cohort of its Phase 1 Clinical Study of Umbilical Cord-Derived Mesenchymal Stem Cells for the Treatment of Bradykinesia Due to Parkinson’s Disease

Retrieved on:

Thursday, March 24, 2022

Slow movement, IMAC, Therapy, Backspace, Nasdaq, B cell, GLOBE, Securities and Exchange Commission (Philippines), Movement, Sport, Patient, Pharmaceutical industry, Hypokinesia

The Phase 1 clinical trial, consisting of a 15-patient dose escalation safety and tolerability study, is being conducted at IMAC Regeneration Centers inChesterfield, Missouri,Paducah, Kentucky, andBrentwood, Tennessee.

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The Phase 1 clinical trial, consisting of a 15-patient dose escalation safety and tolerability study, is being conducted at IMAC Regeneration Centers inChesterfield, Missouri,Paducah, Kentucky, andBrentwood, Tennessee.
Parkinsons disease is the typical culprit of bradykinesia, and as it progresses through its stages, a persons ability to move and respond declines.
According toZion Market Research, the global Parkinsons disease therapeutics market was$2.61 billionin 2018 and is expected to grow to$5.28 billionby 2025.
The ParkinsonsDisease Foundationestimates that nearly 10 million people are suffering from Parkinsons disease, and almost 60,000 new cases are reported annually in theU.S.

IMAC Holdings, Inc. Enters 2022 with Improved Balance Sheet

Retrieved on:

Wednesday, January 19, 2022

Hypokinesia, Rehabilitation, Population, IMAC, Ageing, Growth, Sports medicine, GLOBE, Movement, Health, Nasdaq, Company, Backspace, Bank, Hospital, Walmart

BRENTWOOD, Tenn., Jan. 19, 2022 (GLOBE NEWSWIRE) -- IMAC Holdings, Inc. (Nasdaq: IMAC) (“IMAC” or the “Company”), a provider of innovative medical advancements and care specializing in regenerative rehabilitation orthopedic treatments without the use of surgery or opioids, has announced the repayment of three loans representing more than 95% of its debt in accordance with scheduled debt service over the past 10 months.

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Reconstructing our balance sheet over the past year will improve our earnings per share and cash flow for 2022.
IMAC will maintain remaining loans at roughly a 5% interest rate, which currently total around $200,000.
From March 28, 2021, to January 18, 2022, IMAC Holdings paid significant loan balances to retire over $4.35 million in loans payable.
The Company has approximately $200,000 of debt remaining on the balance sheet related to equipment and construction loans.

RepresentUs Launches Gerry's Partisan Pizza Shop In Texas' New Gerrymandered 37th Congressional District

Retrieved on:

Friday, October 22, 2021

House, Report card, City, Map, Travel, RepresentUs, Demography, Cheese, Hatred, GOP, Awareness, Backspace (Portland, Oregon), Backspace, United States House of Representatives, Democracy, Fast food, Online gambling, Drug

For residents of Texas' new 37th congressional district, Gerry's Partisan Pizza will offer free pizza at its brick-and-mortar location at The Backspace on 507 San Jacinto Blvd in Downtown Austin and deliver within a zone that exists exclusively within the district's manipulated electoral boundaries--not one house further away. Customers that qualify for Gerry's Partisan Pizza can choose from pizza types that include Mandered Margherita, Choosing Voters Cheese, and Politicians' Pick Pepperoni, and will also receive information about how their right to vote is being suppressed and how they can fight back. This delicious activation comes as corrupt politicians nationwide are preparing to slice their districts to their political benefit, regardless of what voters want and brings awareness to how gerrymandering undermines our democracy.

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You can see if you qualify for Gerry's Partisan Pizza here or text "Pizza" to 505-405-9505 to talk to Gerry himself.
"By rigging the delivery zone of Gerry's Partisan Pizza, RepresentUs is showing voters how politicians manipulate voting districts to rig elections and giving voters a way to do something about it."
Gerry's Partisan Pizza Truck will offer free pizza and information to Americans in gerrymandered districts to show how the practice limits voting rights across the country.
Gerry's Partisan Pizza builds upon the critical work RepresentUs has done during the 2021 redistricting cycle to promote gerrymandering reform.