Labwire Announces Corrections, Clarification, and Management Direction
07 Août 2008 - 3:00PM
Marketwired
Labwire Inc. (PINKSHEETS: LBWR), a leading provider of employee
screening solutions and canine security and surveillance services,
announced today the following items of clarification concerning
previous press releases and the recent 8K year-end audit
informational publication:
1) There were some issues (technical and copy-wise) with the edgarization
of the audit results. This has been corrected with a subsequent
publication of an 8-K A.
2) Section 9 of the audit footnotes "Subsequent Events" referred to the
authorization of a preferred class of stock. Management has never
solicited or intended to authorize such a class and the proper steps
have been taken to correct this footnote in the final report. The
increase in common stock is correct and has been requested to provide
for capital acquisition to meet business growth, business development
and acquisition needs.
3) Upon the completion of the second quarter auditor review, Randy
Moseley will have completed his sub-contractor assignments related to
the Company. Effective August 15, his involvement is finalized and
complete.
4) Labwire is no longer involved with Capnet Risk or any Capnet Company
in any capacity.
"At Labwire, we have always strived to provide the markets and
our shareholders with the best visibility and clarity into our
corporate intentions and management direction and decisions,"
commented Mr. Dexter Morris, Chairman and Chief Executive Officer
of Labwire Inc. "The Company is ready to embark on growth to the
next level of business development and market presence. We have
achieved record results in revenue and financial performance. We
thought this was a good time to answer some questions that have
come to us through our shareholder base. We are planning a
shareholder conference and will be announcing plans for that in the
near future. We appreciate our shareholder support and look forward
to the future with much excitement."
About Labwire:
Labwire Inc., Headquartered in Houston, TX, provides secure and
compliant employee drug screening and background checking 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.
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.
Investor and Public Relations Contact: Marlin R. Williford Jr.
email: marlinwilliford@aol.com Phone: (832) 277-4818
Labwire (CE) (USOTC:LBWR)
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