NEWS - Manufacturing

Savannah’s PureSpectrum, Inc. (Pink Sheets: PSPM), a technology-driven lighting company, will host an informational meeting to discuss the company’s progress during the past year on Nov. 12 at 9 a.m. at the Ralph Mark Gilbert Civil Rights Museum at 460 Martin Luther King Jr. Blvd. in Savannah.
“Growth has brought many changes for the company during the past year, and we have positioned the company to take advantage of opportunities in the United States and abroad,” according to President and CEO Lee Vanatta.
In addition to ongoing product development, domestic and international marketing and sales efforts and solidifying relationships with manufacturing partners and distributors, PureSpectrum is in the process of a reorganization involving a corporate transaction with its majority owned subsidiary, International Medical Staffing Group, Inc. (IMSG). “Given the impending change in corporate structure, the company’s management and board of directors believe hosting a meeting in a town-hall format is advisable in lieu of conducting a formal annual meeting,” according to a company press release issued this week. 
Concerning the reorganization, on June 3, 2009, PureSpectrum acquired a controlling interest in IMSG, a fully reporting company admitted for trading on the OTC Bulletin Board. PureSpectrum and IMSG have entered into an Agreement of Purchase and Sale and Plan and Reorganization that will combine the two companies, resulting in a reorganization of PureSpectrum.
Among other actions, IMSG will acquire all of the assets and liabilities of PureSpectrum, and in exchange IMSG will issue one share of IMSG common stock for each share of PureSpectrum common stock outstanding and will replace outstanding PSPM warrants with IMSG warrants with terms identical to the warrants being replaced, explained Vanatta.
IMSG filed a Form S-4 registration statement with the Securities and Exchange Commission (SEC) on Sept. 3. Pending review by the SEC, the IMSG shares and warrants received by PureSpectrum shareholders will be registered with the SEC and restricted shares could be sold freely on the open market. The S-4 filing can be viewed in its entirety at http://www.otcbb.com/asp/Info_Center.asp. 
The company intends to complete the corporate reorganizational activities and conduct a formal annual meeting of shareholders in 2010 following the completion of the 2009 audit of the company’s financials.
The invitation to attend PureSpectrum’s informational meeting will be mailed to the company’s shareholders during the first week of October. Shareholders interested in attending the meeting may contact Stephen Weeks at 912-484-9743 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it to obtain more details

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