SPO Secures Equity Line Facility of US$5 Million

NEW YORK, July 14, 2011 /PRNewswire/ --

SPO (SPOM.OB), a leading developer of biosensor and microprocessor technologies for consumer wellness applications, today announced that it has entered into an Investment Agreement with Dutchess Opportunity Fund II, LP for a US$5 Million equity line facility.

Under the terms of the signed agreement, for a period of 36 months the Company has the option to sell and Dutchess the obligation to purchase common stock at a 6% discount to a calculated volume weighted average market price. In connection with establishing the equity line, the Company has agreed to file a registration statement with the U.S. Securities and Exchange Commission to register the resale by Dutchess of any shares issued to it under the equity line. Subject to the effectiveness of the registration statement and the satisfaction of other customary conditions, the Company may draw on the finance facility on a needed basis.

Michael Braunold, President and Chief Executive Officer of SPO commented, "We are pleased to enter into this financing agreement offering SPO a flexible infusion of cash with a well-established firm such as Dutchess. It is one of several financing strategies that will be pursued as we launch our innovative wellness products into the consumer mass-market environment. Dutchess has the track record and experience in the industry and has been a leader in providing equity lines for over 10 years which contributed significantly to selecting them as our partner."

Chris Quin, Vice President of Business Development of Dutchess, stated; "After reviewing the Company, we believe in Management's efforts to grow SPO and this facility provides inexpensive and flexible access capital. Regardless of the ever-tightening capital markets, we believe that SPO represents a compelling investment for our fund based on its exciting wellness product line. The line will allow Management the flexibility of raising capital when and as needed in order to continue the growth efforts already achieved."

SPO is developing a series of consumer wellness devices that includes the world's first performance monitoring wristband, known as the Wellness 10k, designed for both children and adults and featuring a display function to continuously measure the number of daily activities against preset recommended goals. A heart-rate monitor sports watch has also been developed to measure continuous heart-rate without the need to wear a conventional chest strap, unlike many other heart-rate monitor watches that are on the market.

Both SPO products are currently at an advanced stage of development and SPO expects the Wellness 10k wristband to be launched later this year following a recent successful test marketing program. Braunold continued; "Securing this equity line with Dutchess is an important milestone for the Company and its shareholders; we can now focus on bringing our wellness product line to the consumer market."

A more detailed description of the Dutchess agreement is set forth in the Company's Form 8k recently filed with the SEC.

AboutDutchess

Dutchess Capital is an investment manager which provides creative financing for promising, growth-stage companies. Founded in 2000, funds managed by Dutchess have made over $200 million in direct investments in companies throughout North America, Europe and Asia. For almost a decade, Dutchess has been a global leader in Equity Line Facilities ("ELF") and has transacted in excess of $1.8 billion in such financings. The ELF is a flexible financing structure by which publicly traded companies can raise capital quickly and more efficiently than most traditional offerings.

About SPO

SPO (SPOM) is a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices to capture life-enhancing information within four key markets: medical care; sports and wellness; homecare monitoring and security. Its patented technology uses information gathered from the reflectance of light on the human body, in a noninvasive manner, to monitor key vital signs. The company manufactures its products in addition to licensing its technologies to appropriate client corporations for commercialization and distribution. For more information, visit http://www.spoglobal.com.

Forward Looking Statements

This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, market acceptance of our products and new product applications, timing of new product launches,success of the Company's rebranding program,product performance, size of prospective markets, success of our restructured operations and plans, our ability to generate fees or raise capital to support our business operations and plan, the sufficiency and availability of working capital, changes in economic conditions generally and in more specifically, the introduction of competing products, changes in our operating strategy or development plans patent protection for our products and technologies, changes in economic conditions generally and in more specifically, in the markets we operate, changes in technology, legislative or regulatory changes that affect us and the risks and uncertainties discussed under the heading "Risk Factors" in Item 1 of our Annual Report on Form 10-K for the fiscal year ended December 31,2010. We undertake no obligation to revise or update any forward-looking statement for any reason.

Websites: http://www.spoglobal.com; http://www.spowellness.com;

Twitter: http://www.twitter.com/spowellness

Facebook: http://www.facebook.com/spowellness

Contact regarding this release:

SPO:
investors@spoglobal.com
+1-866-991-7766

Dutchess:
cquin@dutchesscapital.com
+1-617-301-4709

SOURCE SPO Global