IMAC Holdings CEO Jeff Ervin Provides Corporate Update in Letter to Shareholders
To Our Valued Shareholders:
I am excited about the progress we made since completing our equity offering one month ago. While there hasn’t been a singular event to trigger material disclosures,
The Back Space, our new retail spine and neck care venture, now has a foundational platform for the business to grow into a national brand. Our technology infrastructure is complete and expandable to capitalize on future developments of our http://www.back.co/ digital presence. As for the physical store presence, we have faced minor slowdowns in the launch of the initial store. However, the buildout process is proving to be replicable and future buildouts are expected to take less than ten weeks from acquisition of premises to occupancy.
We are increasing the Back Space test market to ten stores. Implementing the first store allowed us to gain comfort in our supply chain and resources needed to open for business. We are using current
We created a discount program for our strategic partner. Their employees and customers will have access to the Back Space’s inaugural location when it opens during a “soft” opening the first week of May.
Next, IMAC’s core business is experiencing fewer COVID-related disruptions related to patient cancellations and employee quarantines over the past month. Additionally, our recent Regeneration Center acquisitions are advancing our
Finally, IMAC’s balance sheet is as strong as it has ever been. We retired
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Safe Harbor Statement
This press release contains forward-looking statements. 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. Actual results could differ materially from these forward-looking statements as a result of, among other factors, risks and uncertainties associated with its ability to grow its business nationwide, its ability to enhance its brand to consumers, its development and introduction of new healthcare products and services, its successful integration of acquired chiropractic and other companies, technologies and assets, its ongoing marketing and other business development initiatives, competition in the rehabilitation and regenerative industry, new and changing healthcare government regulation, its ability to protect its intellectual property, and its ability to attract, hire and retain personnel who possess the skills and experience necessary to meet customers’ requirements.
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Source: IMAC Holdings, Inc.