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)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Labwire (CE) Charts.
Labwire (CE) (USOTC:LBWR)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Labwire (CE) Charts.