Banyan Reports 760% Increase in Chiropractic USA Revenues for 2004.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- Banyan banyan (băn`yən), species of fig (Ficus bengalensis) of the family Moraceae (mulberry family), native to India, where it is venerated. Its seeds usually germinate in the branches of some tree where they have been dropped by birds. Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: BANY) said today that its 10-KSB filing for fiscal 2004 reported a 760 per cent increase in revenues from its nationwide chain of Chiropractic chiropractic (kīrəprăk`tĭk) [Gr.,=doing by hand], medical practice based on the theory that all disease results from a disruption of the functions of the nerves. USA franchised clinics. Michael Gelmon, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Banyan, said the company's 10-KSB filing reported revenues of $465,729 from franchised clinics for 2004, a nearly eight-fold increase of $411,591 from the $54,138 reported for fiscal 2003, when Banyan introduced and began marketing Chiropractic USA franchises. "In 2004, Banyan began seeing positive results from our Chiropractic USA franchise concept and marketing efforts," Mr. Gelmon said. "The revenue increase in 2004 does not reflect a large number of clinics who will begin paying royalties the first part of 2005." Information about Banyan Corporation, Chiropractic USA and other Banyan companies is available at www.chiropracticUSA.net. About Banyan Corporation Banyan Corporation (OTC BB: BANY) is a publicly-traded holding company focused on investing in and building a network of operating subsidiaries engaged in various innovative businesses. Banyan's Chiropractic USA subsidiary focuses on the development of branded chiropractic clinics throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. by franchising chiropractic clinics under its brand, and its new Diagnostic USA subsidiary focuses on the rapidly growing diagnostic imaging arena. Banyan's other subsidiary, Banyan Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Inc., provides practice finance solutions to the chiropractic, medical, dental and healthcare communities. This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. Chiropractic USA and Diagnostic USA are trademarks of Banyan Corporation. |
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