June 2008 Interview with: PureSpectrum, Inc. (PSPM-OTCPK), President and CEO, Lee L. Vanatta - featuring: their electronic ballast technologies designed to make energy efficient lighting products more popular among consumers through improved performance.
|PureSpectrum, Inc. (PSPM-OTCPK)|
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PureSpectrum Is Focused On Developing New
Energy-Efficient Lighting Products That Meet The Performance Demand Of
Lee Vanatta brings more than two decades of sales, marketing and business experience to PureSpectrum. A blend of expertise in strategic planning, bringing products to market, building sales and distribution systems have allowed Mr. Vanatta Vanatta to enjoy phenomenal successes as a marketing executive. Keen insight and a commitment to integrity enable him to be a strong leader and trusted decision maker in any organization.
During a decorated career spent
serving a wide ranging client base and embracing the role of entrepreneur,
Mr. Vanatta has composed and executed long range business and marketing
plans for national entities such as The Home Depot, Milliken, Mrs. Smith’s
and Marriott Vacation Clubs. Additionally, he has employed his
resourcefulness and savvy to successfully found, buy, build and sell several
businesses of his own. In keeping with his character and management style,
his growth strategies for his own enterprises and his clients have always
been founded on sound business principles that stress high quality and
commensurate rewards for excellent performance.
PureSpectrum (PINKSHEETS: 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 energy efficient lighting technologies which also meet consumer
standards. PureSpectrum currently holds the rights to multiple patents,
patent applications and patents pending related to electronic ballast
technologies designed to make energy efficient lighting products more
popular among consumers through improved performance. PureSpectrum is
committed to researching, developing and refining ideas that will provide
the most energy efficient, cost effective and consumer friendly methods to
deliver artificial light.
Mr. Vanatta: “PureSpectrum was founded with the intent of developing technology to make a new lighting product, a new energy-efficient lighting product that would meet the performance paradigm that consumers are used to. If you look at our biggest competitor in lighting, it is Thomas Edison, because he created an ease-of-form, ease-of-function, inexpensive product 130 years ago. The new products coming out today are more complicated, and they are not hitting the same performance paradigm. We know the technology can be developed to meet consumer expectations and so we have pushed the company that way. All of our patents have been developed with that in mind and now we are at the point of talking with the major lighting manufactures about licensing our technology and bringing it to store shelves.”
CEOCFO: Please tell us about what the technology covers.
Mr. Vanatta: “Our technology covers electronic ballasts primarily in the florescent market, both compact florescent and linear florescent lighting. What our technology does is, in a very energy efficient manner, meaning meeting or exceeding all government standards, it allows for compact florescent lights, florescent lights, florescent fixtures in a building, and in high bays in an industrial setting to maintain energy efficiency, while giving the consumer full dimming control, allowing our product to be hooked up to occupancy sensors, daylight sensors, or dimming control devices, so that they will look and perform like the light bulbs everyone is used to, that consumers haven’t been able to get with the new energy-efficient technologies.”
CEOCFO: What is the competitive landscape for you?
Mr. Vanatta: “Right now everyone is being forced into this with the new energy bill that will begin to be implemented in 2012, and everyone will have to meet the new energy standards. To date, I believe ours is the only technology that allows for full functionality, especially in the area of dimming, just like an incandescent bulb, the way American consumers are used to. There are products that are coming out, that not only don’t have a full dimming function, but they are also much more micro-processor driven, and ours is circuitry driven because the thing that people are used to in a light bulb is that it is a relatively inexpensive commodity. You are used to grabbing a handful and throwing them in the grocery basket and not having to look at 10, 12, $15.00 a piece for a dimmable bulb vs. a standard bulb. Ours is a circuitry-driven technology therefore much less expensive to manufacture. So competitively there are some (competing products) out there but they only touch on a few of our salient points which are very important as far as why we feel our technology is the best available.”
CEOCFO: How do you get your products in use; what are the steps going forward?
Mr. Vanatta: “We are following what I would consider to be a pretty standard process. We have taken all of our technologies and had them tested at independent testing laboratories. We don’t release any numbers from our own labs. We have all of our technology tested at independent government certified labs. Those tests have been released to the public and released to the industry. The industry is calling us in, we are being courted right now, that is the best way to say it. We are in discussions with companies from all over the world and in various stages of agreements with certain ones as far as testing and disclosures about licensing our technology and putting it on store shelves under varying brands. I feel good about the process, I guess the reason I feel good about the process is all the numbers that are confirming our technologies are numbers that are generated by others.”
CEOCFO: You have more than one technology, and several patents; will you tell us about the industry?
Mr. Vanatta: “The lighting industry, people don’t think about how large it is. It is all built in and a standard that we are used to. We have everything from patents on dimmer switches for use in the wall, to compact florescent ballast for those curly new lamps (CFLs) that everybody is pushing. We have the electronics for those that make them instant start, dimmable, everything that people are looking for. We have patents on ballasts for your two- and four-tube fixtures in an office building or an industrial setting. We also have some of our early technologies for under-cabinet lighting. We have some early patents on high intensity discharge lighting. We have, in this development cycle, gone through the full range of light products and have patents or patent applications that prove the transferability from one platform to another, from compact florescent to florescent ballast, as well as the scalability from top to bottom in electrical wattage, proving that this technology is extremely viable and will meet all possible applications.
CEOCFO: You mentioned talking to people worldwide; are there areas of the world that are more ready than the US to embrace your technology?
Mr. Vanatta: "The rest of the world has been facing this energy issue for a very long time and has been standing up looking at it for a very long time. The US was not the fastest to adopt the energy conservation issue, although it is good that we are. This is a global issue that needs to be addressed. There is more legislation in effect in other areas of the world, in the EU and Canada, Australia and Japan. I think they will adopt quickly. The US consumer wanted the lighting companies to do the best by them and not throw something on the market that wasn’t totally developed for what the US consumer had in mind. The US consumer wants, when they flip the light on, for it to come on. They don’t want it to slowly warm up. Those are some of the issues that we have addressed in our technology and circuitry, when they put the light in they want to be able to use it with a dimmer so they can dim it up and down, they don’t want it to only dim down to 60% or 50%, they want it to dim all the way. People are used to these things; they have a paradigm for what they want in their household. Our technology was taking today’s standard energy-efficient technologies and enhancing them so they can meet the paradigms of what the American consumer wants in a cost-effective matter.”
CEOCFO: Do you see that when one or two companies fall in line they all will?
Mr. Vanatta: “Yes.”
CEOCFO: What is the financial picture for PureSpectrum?
Mr. Vanatta: “The financial picture right now is good, we have been extremely conservative in growing this company they way it is today. There is extremely low debt on the books; people would be surprised at how low the debt picture is. Once the first deal is signed, it is nothing but roses; there is not a big pay back.”
CEOCFO: Why should potential investors be interested now and what might people miss that they should understand about the company?
Mr. Vanatta: “If an investor was looking at PureSpectrum they need to look at the overall picture, the energy bills, the political scene in this country as far as where energy efficient technologies, products, investments, are going to go because that is the big push; you stop at the gas station everyday and you see what is happening. This technology will be adopted strongly, quickly, and right now we are in the waning time of the pre-adoption phase. Just like anything else, once everything gets going it takes off. Everybody is making their decisions on the technology to adopt now because everything as far as lighting goes according to today’s laws has to fit under the efficiency standards set in the new energy bill which will be fully in force in 2014.”
CEOCFO: What should readers remember most about PureSpectrum?
“It is just a light bulb. Everybody is making it really complex right now.
This is what we have done: it is just a light bulb. It should turn on like a
like bulb, it should dim like a light bulb, it should have the color of
light like you are used to. That is what we have developed. We are trying to
take the confusion out of the marketplace. We feel very strongly that we
have done that.”
“PureSpectrum was founded with the intent of developing technology to make a new lighting product, a new energy-efficient lighting product that would meet the performance paradigm that consumers are used to.” - Lee L. Vanatta
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