SAVANNAH, GA -- (Marketwire) -- 06/27/11 -- PureSpectrum, Inc. (OTCBB: PSRU) announced an update on its corporate direction and business model. PureSpectrum will operate as a diversified holding company that will seek to bring management resources and economies of scale to various acquisition opportunities that management is interested in pursuing on behalf of its shareholders.
It is management's intent to identify potential acquisition candidates. We will not limit our search to any business or industry. Upon completion of any acquisition, we intend to develop these businesses under the PureSpectrum umbrella. Management believes that this model will allow the various acquisitions to grow independent of other non-related operations and maximize the value and return to the current shareholders.
As previously announced, PureSpectrum has formed a wholly-owned subsidiary, Tomorrow's Lighting, and has transferred all patents and technology rights to this new subsidiary. Additionally, management has elected to transfer all of its lighting assets to Tomorrow's Lighting in keeping with its current plans for the future of PureSpectrum. With the transfer of all lighting assets to the subsidiary and operating PureSpectrum as a holding company, management will have more flexibility with respect to its ongoing operations.
CEO Gregory Clements stated, 'I am extremely excited about the direction we are about to embark on with PureSpectrum. There are a number of acquisitions that we feel we can bring valuable resources to PureSpectrum. With these acquisitions, PureSpectrum will allow these companies to grow and maximize potential while preparing to operate as a majority-owned subsidiary of a publicly traded subsidiary.'
Shareholders will be able to follow updates regarding Tomorrow's Lighting at www.tomorrowslighting.com.
ABOUT PURESPECTRUM PureSpectrum, Inc. is a company focused on sales of lighting products headquartered in New York, NY. The company's mission is grounded in the quest to preserve natural resources and a belief that energy efficient lighting will be embraced and absorbed through improved performance. PureSpectrum is introducing products and identifying technologies that enable energy conservation and improved performance without increased cost or confusion for the consumer. Please call (912) 318-9148 or visit www.purespectrumlighting.com for more information.
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. For additional information concerning risk factors, please refer to the securities filings at http://www.otcbb.com/asp/Info_Center.asp.