SOURCE: PureSpectrum, Inc.

PureSpectrum, Inc.

August 04, 2009 13:12 ET

PureSpectrum, Inc. Receives Approvals From Boards of Directors to Proceed With Corporate Transaction With IMSG

Sales Team Distributing Product Samples as Company Works to Complete Transaction to Become Fully Reporting

SAVANNAH, GA--(Marketwire - August 4, 2009) - PureSpectrum, Inc. (PINKSHEETS: PSPM) has received approval from its board of directors and the board of directors of International Medical Staffing, Inc. (IMSG) to proceed with a proposed corporate transaction that will further PureSpectrum's efforts to become a fully reporting company.

Having received approval from both its directors and shareholders, International Medical Staffing intends to file an S-4 Registration Statement to register its shares with the Securities and Exchange Commission (SEC) and intends to subsequently effectuate a corporate transaction involving PureSpectrum pending approval by PureSpectrum's shareholders. PureSpectrum's board of directors has approved the proposed transaction which will fundamentally change the company's corporate structure and will facilitate the fulfillment of the company's objective to elevate PureSpectrum's stock from the Pink Sheets to a more senior stock exchange.

"Once we receive approval from the majority of our shareholders to proceed with this transaction which will restructure the company, we will be able to continue the company's efforts to join a higher stock exchange," said PureSpectrum Executive Vice President William R. Norton. "This transaction with International Medical Staffing was a critical and necessary component of the original strategy to move the stock to a more established, more stable stock exchange."

This action takes place during a period of heightened activity for PureSpectrum as the company's sales efforts continue to gain momentum. The company received product samples of its 20-watt dimmable Compact Fluorescent Bulb (CFL) last week, and PureSpectrum's sales team is calling on interested prospective buyers to distribute the product samples and generate purchase orders.

"The interest in our products remains very high from the utilities industry and electrical distributors, and the product samples allow us to continue the sales process and take advantage of opportunities to generate bulk volume sales," said PureSpectrum Vice President of Sales Garth Kullman. "Through our marketing efforts and persistent pursuit of sales leads in multiple sectors of the market, we have numerous prospective buyers who will make purchases pending successful testing of the product samples. We also will conduct meetings with the large number of utility companies, Energy Service Companies and distributors that have given us verbal commitments to purchase our products pending an evaluation of product samples."

As the company continues to make progress toward becoming a fully reporting company and capitalizing on the demonstrated interest in its dimmable energy efficient lighting products, independent directors Dominic C. Mazzone and David M. Betsill resigned from the board of directors last week without citing specific reasons. Robert E. James, II will remain on the board of directors as an independent director and the company will initiate a search for additional independent directors to occupy the seats vacated by Mazzone and Betsill.

Call (912) 484-9743 for more information about PSPM or contact Shareholder Development Group at (770) 518-3449 or info@shareholderdg.com for investment information.

ABOUT PURESPECTRUM

PureSpectrum, Inc. is a technology-driven lighting company headquartered in Savannah, Ga., that has developed technology solutions for energy efficient lighting and superior energy efficient lighting products in multiple categories. The company's mission is grounded in the quest to preserve natural resources and a belief that energy efficient lighting can only truly be embraced through improved performance. Through intuitive engineering, PureSpectrum designed innovative technology that enables maximum energy efficiency and optimal performance without increased cost or confusion for the consumer. PureSpectrum continues its commitment to researching and developing technologies and products that satisfy consumer demand and advance the cause of energy conservation. For more information on PureSpectrum, please call (912) 961-4980 or visit www.purespectrumlighting.com.

Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to continued market acceptance for PureSpectrum's products and services, its ability to succeed in growing revenue, the effect of new competitors in its market, integration of acquired businesses, and other risk factors identified from time to time by PureSpectrum.

Contact Information