HOUSTON , Dec. 11 /PRNewswire-FirstCall/ -- Labwire, Inc.
(Pink Sheets: LBWR), a leading provider of employee screening solutions and
canine security and surveillance services, announced today that it has
completed the acquisition of Occupational Testing, Inc., an established
provider of occupational substance abuse services located in Gillette Wyoming.
The business is already profitable and will add approximately
"I am excited to have completed the acquisition of Occupational Testing,
Inc.," commented Mr. Dexter Morris , Chief Executive Officer, of Labwire Inc.
"We were able to buy a business on '06 numbers that has already shown a 33%
increase in sales and profits for '07. This opens up an additional marketplace
and expands the use of our Labwire platform to another industry segment valued
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.