December 10, 2009 13:08 ET
Labwire Files Voluntary Deregistration Statement With the SEC
BROOKSHIRE, TX--(Marketwire - December 10, 2009) - Labwire, Inc. (PINKSHEETS: LBWR) ("Labwire"
or the "Company"), a leading provider of employee screening solutions and
canine security and surveillance services, announced the voluntary
deregistration of its stock with the Securities and Exchange Commission
("SEC").
Dexter Morris, Chairman and Chief Executive Officer of Labwire, stated: "In
these difficult economic times, we believe that precious corporate
resources are better spent on growing the Company rather than on the
compliance obligations required of public companies. This decision was made
consistent with other cost-cutting measures that we have taken, including
staff reductions and reduced pay for certain employees." Mr. Morris left
open the possibility for a future public company strategy, stating, "We
will revisit the public company listing issue in the future."
Earlier today, Labwire filed a Form 15 with the SEC deregistering Labwire's
common stock with the SEC. The filing will be effective immediately unless
Labwire is notified that the SEC objects to the filing.
About Labwire Inc.
Labwire, Inc., headquartered in Brookshire, Texas, provides secure and
compliant employee drug screening and background checking services to
Fortune 500 corporations via the Labwire™ Platform. Labwire™ 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. Labwire feels 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., 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.