New Labwire Product Ready for Sale
15 5월 2009 - 10:00PM
Marketwired
Labwire, Inc. (PINKSHEETS: LBWR), a leading provider of employee
screening solutions and canine security and surveillance services,
is pleased to release the following informational updates.
"We are excited to announce that our newest product line, PII
(Personally Identifiable Information), Compliance is now ready for
sale. Recently, the Federal Trade Commission and the other federal
agencies responsible for enforcement of the 'Red Flag Rules'
delayed the mandatory enforcement date from May 1, 2009 to August
1, 2009, in order to allow organizations additional time to upgrade
their compliance systems. We hope that having a projected
compliance date will have a positive effect on the sales process,"
says Dexter Morris, CEO.
Labwire (the Company) is pleased to announce they have engaged
Whitley Law Group, P.C. of Houston, Texas as its securities
counsel. The Company has been working with Whitley Law Group and
attorney Samuel E. Whitley for several months now. Certain
shareholders recommended Mr. Whitley to the Company. Whitley Law
Group represents several smaller reporting companies in their
securities matters. The Company looks forward to working with
Whitley Law Group and Mr. Whitley to satisfy the Company's
compliance with the federal securities laws.
Mr. Morris states, "As you may know, the Company filed its
annual report on Form 10-K with the SEC on May 8, 2009. This report
covered our 2008 fiscal year. In fiscal year 2008, our revenue
exceeded the $4 million level, even with loss of a major account
worth $1.7 million in annual billings. We attribute reaching the $4
million level to the hard work and dedication of the Company's
personnel and the efficient operation of the Labwire platform. In
addition, the Company added revenue with a Seattle based aviation
client and the revenue of Occupational Testing, Inc., which we
acquired in 2007, rose from $850,000 in 2007 to $1,000,000 + in
2008. The Company's current clients also expanded their business
with the Company, which helped offset the account loss discussed
above."
The Company's newest account (February 26, 2009 Release) has
placed its first order with Labwire, and these revenues should
appear in the Company's financial statements for the second
quarter.
Labwire Security Services is now providing security for an
offshore platform project in the Gulf of Mexico. They are providing
4 officers for a projected period of nine to twelve months to
provide security for approximately 250 workers on a daily
basis.
Today, the Company submitted an extension to the SEC for filing
their quarterly report for the first quarter. They are in the
process of gathering additional financial information to be
included in this quarterly report.
"We will keep you advised as to additional material
developments, and as always, we thank our shareholders for their
continued support of Labwire," says Mr. Morris.
About Labwire
Labwire Inc., Headquartered in Brookshire, TX, provides secure
and compliant employee drug screening, background checking
services, and other required employee screening services to Fortune
500 corporations via the Labwire(TM) Platform. Labwire(TM) is a
proprietary, web-based application that streamlines the complex
regulatory and record management activities associated with
employee screening, delivering accurate timely results while
eliminating service calls and paper trails. This comprehensive
solution to managing employee screening services is the most
efficient and cost-effective platform in the industry. For more
information, visit http://www.labwire.com.
Safe Harbor Provisions:
Certain oral statements made by management from time to time and
certain statements contained in press releases and periodic reports
issued by Labwire, Inc., (the "Company"), as well as those
contained herein, that are not historical facts are
"forward-looking statements" within the meaning of Section 21E of
the Securities and Exchange Act of 1934 and, because such
statements involve risks and uncertainties, actual results may
differ materially from those expressed or implied by such
forward-looking statements. Forward-looking statements, including
those in Management's Discussion and Analysis, are statements
regarding the intent, belief or current expectations, estimates or
projections of the Company, its Directors or its Officers about the
Company and the industry in which it operates, and are based on
assumptions made by management. Forward-looking statements include
without limitation statements regarding: (a) the Company's
strategies regarding growth and business expansion, including
future acquisitions; (b) the Company's financing plans; (c) trends
affecting the Company's financial condition or results of
operations; (d) the Company's ability to continue to control costs
and to meet its liquidity and other financing needs; (e) the
declaration and payment of dividends; and (f) the Company's ability
to respond to changes in customer demand and regulations. Although
the Company believes that its expectations are based on reasonable
assumptions, it can give no assurance that the anticipated results
will occur. When issued in this report, the words "expects,"
"anticipates," "intends," "plans," "believes," "seeks,"
"estimates," and similar expressions are generally intended to
identify forward-looking statements.
Important factors that could cause the actual results to differ
materially from those in the forward-looking statements include,
among other items, (i) changes in the regulatory and general
economic environment; (ii) conditions in the capital markets,
including the interest rate environment and the availability of
capital; (iii) changes in the competitive marketplace that could
affect the Company's revenue and/or cost and expenses, such as
increased competition, lack of qualified marketing, management or
other personnel, and increased labor and inventory costs; (iv)
changes in technology or customer requirements, which could render
the Company's technologies noncompetitive or obsolete; (v) new
product introductions, product sales mix and the geographic mix of
sales.
The Company disclaims any intention or obligation to update or
revise forward-looking statements, whether as a result of new
information, future events or otherwise. Safe Harbor Statement
under the Private Securities Litigation Reform Act of 1995: The
statements which are not historical facts contained in this
advertisement are forward-looking statements that involve certain
risks and uncertainties including but not limited to risks
associated with the uncertainty of future financial results,
additional financing requirements, development of new products,
governmental approval processes, the impact of competitive products
or pricing, technological changes, and the effect of economic
conditions.
Contact: Investors & Public Relations Dexter Morris email:
dexter@labwire.com phone: (281) 934-3153
Labwire (CE) (USOTC:LBWR)
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Labwire (CE) (USOTC:LBWR)
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