July 2nd, 2007
SAVANNAH, GA – PureSpectrum, Inc. (Pink Sheets: PSPM) elected a Board of Directors and ratified the appointment of Hancock Askew & Co. LLP as auditors for the company during the company’s annual shareholder meeting on Tuesday in Savannah, Ga. PureSpectrum president and CEO Lee Vanatta, executive vice president William Norton and vice president of sales Garth Kullman were unanimously elected to positions on the company’s Board of Directors. Following the conclusion of the two votes, Vanatta delivered a brief summary of the company’s progress during the past year: The past year was highlighted by new patent filings during the first two quarters of 2007 and face-to-face meetings with major lighting manufacturers which took place in May at LightFair International in
New York. Engineering developments made to improve PureSpectrum Technology have created a buzz within the lighting industry that should provide momentum for the company in the coming months. Based on the progress being made in research and development and initial discussions with domestic and global lighting manufacturers, Vanatta projected that the company will begin earning revenue from licensing agreements during the next fiscal year.
Vanatta said the company will continue to espouse a fiscally conservative spending plan while continuing attempts to generate interest in the benefits manufacturers can gain by licensing the technology. PureSpectrum engineers recently identified a circuitry modification which drastically reduces ignition delays for Compact Fluorescent Lighting bulbs without sacrificing energy efficiency. “I believe that PureSpectrum, Inc. is in a better position than most companies of like size would be because we have been extremely thorough in all of our endeavors during the past 12 months,” Vanatta said. “The technology is sound, the patent work being done to protect the technology is sound and our objectives remain founded in a commitment to develop this technology to its fullest potential.We are building this enterprise the right way, and we want to build a company that will impact the lighting industry and provide a maximum return for our investors.” ABOUT PURESPECTRUM PureSpectrum (Pink Sheets: PSPM) is a publicly traded technology company founded and headquartered in
Savannah,
Ga. The company’s values are grounded in an awareness of the increasing urgency to identify more efficient energy solutions. PureSpectrum currently holds the rights to multiple patents and patent applications related to an electronic ballast design which would produce a soft switching environment during power conversion for artificial lighting. PureSpectrum will continue its commitment to researching, developing and refining ideas that will provide the most energy efficient, cost effective methods for powering artificial light. 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.