HOUSTON, June 8, 2005 (PRIMEZONE) -- Labwire Inc. (Pink Sheets:LBWR) announces that the Company has begun trading under the ticker symbol "LBWR" on the Over-the-Counter market. The Company's Labwire(tm) Platform is a leading edge information technology solution that gathers, stores, retrieves and manages sensitive security and compliance data primarily for the oil & gas and transportation industries. Labwire's wholly-owned subsidiary, Workplace Screening Services, is a provider of comprehensive and secure employment screening management to mid-size and large corporations, specializing in drug testing and background checks.
The Labwire(tm) Platform required a capital investment of over $1 million and is a proprietary, web-based application that creates a virtual employment screening chain streamlining all aspects of the screening process in a secure and cost-efficient solution. The platform provides compliance with DOT (Department of Transportation) and DEA (Drug Enforcement Agency) regulations and adheres to strict Health Insurance Portability and Accountability Act (HIPAA) based protocols. Through industry partnerships, the Company provides security plans and equipment, in addition to canine surveillance programs (drugs/explosives) manageable via the Labwire(tm) Platform.
"We are very excited to become a publicly traded company. Having greater access to capital can assist the Company in ramping up sales and marketing efforts as well as fund potential acquisitions that will add value to Labwire's existing suite of employee screening services," commented Dexter Morris, President of Labwire Inc. "Our Labwire(tm) Platform positions the Company to raise industry standards by delivering the highest value and the lowest operational cost per transaction. Additionally, we are pleased to report that the Company achieved its first quarter of profitability in Q1 2005."
About Labwire Inc.
Labwire Inc., headquartered in Houston, TX, provides secure and compliant employee drug screening and background checking services to Fortune 500 corporations. The Company offers a comprehensive set of solutions to manage all aspects of employee screening services including drug testing program development and policy analysis, medical review services, supervisor training and secure real-time online data management via the Labwire(tm) Platform. Labwire(tm) is a proprietary, real-time web-based application that streamlines the complex regulatory and record management activities associated with employee screening, delivering accurate timely results.
For corporate and product information, please visit www.labwire.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.