SOURCE: PureSpectrum, Inc.

October 14, 2008 12:00 ET

PureSpectrum, Inc. Releases Second Quarter Financial Statement for 2008

Company Plans to Release Third Quarter Financial Statement by the End of October

SAVANNAH, GA--(Marketwire - October 14, 2008) - PureSpectrum, Inc. (PINKSHEETS: PSPM) allotted extra time to review the company's fiscal health to ensure accuracy for its shareholders and released second quarter financial data this morning.

PureSpectrum president and CEO Lee Vanatta said the company plans to release financial statements for the third quarter of 2008 by the end of the month.

"We realize that the release of this documentation comes a little later than expected, but we feel we are on the verge of becoming a much larger entity and we believe that a more thorough review was warranted in order to be able to fully divulge the health of the company to our shareholders and prospective shareholders," said PureSpectrum president and CEO Lee Vanatta, who will travel to Dubai later this month for the United Arab Emirates Global Investment Forum. "Because of the global need for green technology products and particularly lighting innovations which make energy efficient lighting more user-friendly, we are receiving considerable interest globally from the lighting industry and the investment community. As the pace of our development continues to accelerate, we are working diligently as an organization to retain the commitment to corporate responsibility and scientific integrity which has propelled us into this position."

As the stock market experienced extreme turmoil during the past few months, PureSpectrum remained steady by concurrently narrowing the company's focus while also expanding the company's scope of business. PureSpectrum substantially improved its ability to begin generating both immediate and long-term revenue by initiating contract manufacturing arrangements for the company's line of innovative dimmable Compact Fluorescent Lamps and dimmable linear fluorescent fixtures that offer unprecedented performance and ballast design features. The company also improved its position within the lighting industry by filing additional patent applications, strengthening relationships with prospective licensing partners and expanding both its internal personnel and external resources.

As the company continues its preparations to elevate its stock from the National Quotation Bureau Exchange or Pink Sheets to the American Stock Exchange (AMEX), the financial statements released this morning reflect the commitment to accountability and transparency among the members of PureSpectrum's executive staff and board of directors.

Go to www.purespectrumlighting.com or www.pinksheets.com to view PureSpectrum's full financial documentation through June 30, 2008. Call Jeff Clark at (912) 961-4980 for more information about PureSpectrum, Inc. or contact Shareholder Development Group at (770) 518-3449 or info@shareholderdg.com for investment information.

ABOUT PURESPECTRUM

PureSpectrum, Inc. is a technology company founded and headquartered in Savannah, Ga., that has developed breakthrough patent-pending ballast and dimming technology for artificial lighting. The company's mission stems from an awareness of the increasing urgency to encourage the adoption of energy efficient lighting solutions through superior performance. PureSpectrum continues its commitment to researching and developing technologies and products that satisfy consumer demand and meet energy conservation standards. 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

  • Media Contact
    Stephen Weeks
    (912) 356-5770