August 21 - Six month financials for PureSpectrum, Inc. show investment into research and development
August 21st, 2007SAVANNAH, GA – According to recently released six-month financials, PureSpectrum, Inc. (Pink Sheets: PSPM) is carrying very little debt for a young technology company and the company allocated about 25 percent of investments received in 2007 for research and development. The company filed disclosure information through
The financials indicate that PureSpectrum’s external debt is less than $150,000 and that the company spent a quarter of the investments it has received on research and development costs. PureSpectrum president and CEO Lee Vanatta said the financial information reflects company’s commitment to serving its shareholders by ensuring a return on investment soon after the company begins generating revenue through licensing partnerships with lighting manufacturers. “We want our shareholders to be confident that they are our first priority,” Vanatta said. “We have worked diligently to hold down our debt, and we have spent investment funds deliberately and conservatively. We believe the best place to spend was in engineering to refine our technology to suit the needs of lighting manufacturers so we can continue working toward our goal of identifying a licensing partner in the fourth quarter of this year.”
Go to www.purespectrumlighting.com or www.pinksheets.com to view PureSpectrum’s full financial documentation through June 30, 2007. Call (912) 961-2980 with inquiries regarding PureSpectrum or PureSpectrum Technology. END ABOUT PURESPECTRUM PureSpectrum (Pink Sheets: PSPM) is a publicly traded technology company founded and headquartered in
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.