SOURCE: Axis Technologies Group, Inc.

December 02, 2008 07:46 ET

Axis Technologies Announces Filing of Form 211 by Company's Sponsoring Market Maker for Move to OTCBB

Filing With Financial Industry Regulatory Authority (FINRA)

LINCOLN, NE--(Marketwire - December 2, 2008) - Axis Technologies Group, Inc. (PINKSHEETS: AXTG), a green technology designer, manufacturer and marketer of a proprietary line of energy saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry, announced today that the company's sponsoring market maker, Spartan Securites, has filed the Form 211 with FINRA for a listing on the OTCBB exchange. Spartan will initially act as the primary market maker and assist the company with trading after receiving clearance. In addition, Spartan Securities has agreed to work with the company as an advisor in any future market related activities or broker/dealer services.

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About the Axis Ballast:

Axis Technologies Group, Inc. has developed an innovative new ballast (a ballast regulates voltage) with the aim of expanding daylight harvesting into mainstream lighting applications. The patented Axis Dimming/Daylight Harvesting Ballast is a new technology that transforms the standard ballast into a dynamic energy saving system that offers lighting energy cost reduction of up to 70%. The Axis Ballast utilizes an individual photo sensor to automatically adjust the amount of electrical current flowing to the light fixture which results in the dimming or increasing the lighting depending upon the amount of available sunlight below the fixtures. The Axis Ballast avoids "over-lit" conditions that increase energy costs by harvesting and utilizing free daylight from windows or skylights. As the amount of available daylight fluctuates, the Axis Ballast automatically keeps lighting "tuned" to the desired level in a designated area.

About Axis Technologies Group, Inc. (www.axistechnologyinc.com)

Axis Technologies Group, Inc. conducts its business through this wholly owned subsidiary Axis Technologies, Inc., a Delaware corporation headquartered in Lincoln, Nebraska. Axis Technologies, Inc. designs, manufactures and markets a proprietary line of energy-saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry. The company's target market is small to large commercial users of fluorescent lighting including office buildings, wholesale and retail buildings, hospitals, schools, and government buildings. In 2002, Underwriters Laboratory (UL) approved Axis products for sale in both the United States and Canada. The Axis ballast is priced competitively and is the only daylight harvesting ballast system that can be marketed as a replacement for a standard ballast. Many public utilities offer rebates for the purchase of the Axis ballast to their corporate clients.

About the Financial Industry Regulatory Authority (FINRA)

The Financial Industry Regulatory Authority (FINRA) is the largest non-governmental regulator for all securities firms conducting business in the United States. FINRA oversees nearly 5,000 brokerage firms representing 174,000 branch offices and approximately 677,500 registered securities representatives. Through the consolidation in July 2007 of NASD and the member regulation, enforcement and arbitration functions of the New York Stock Exchange, FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA is involved in every aspect of the financial industry-from registering and educating industry participants to examining securities firms; writing rules; enforcing those rules and the federal securities laws; informing and educating the investing public; providing trade reporting and other industry utilities; and administering the largest dispute resolution forum for investors and registered firms. It also performs market regulation under contract for The NASDAQ Stock Market, the American Stock Exchange, the International Securities Exchange and the Chicago Climate Exchange. FINRA has approximately 3,000 employees and operates from Washington, DC, and New York, NY, with 15 District Offices around the country.

Safe Harbor

Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.

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