SOURCE: Labwire, Inc.

January 11, 2007 09:00 ET

Labwire Announces Agreements With Vermont Transit and Texas, New Mexico & Oklahoma Coaches

HOUSTON, TX -- (MARKET WIRE) -- January 11, 2007 -- Labwire, Inc. (PINKSHEETS: LBWR), a leading provider of employee screening solutions and canine security and surveillance services, is pleased to announce that it has entered into agreements with Vermont Transit Co., Inc. ("Vermont Transit"), operating in the Northeast United States and with Texas, New Mexico & Oklahoma Coaches, Inc. ("TNM&O"), operating in the South Plains Region of the United States. Vermont Transit and TNM&O, both of which are subsidiaries of the largest provider of bus transportation in North America, are regional providers of bus transportation, including passenger, charter, and package delivery services. Under the terms of the agreement, Labwire will provide comprehensive employee screening solutions to Vermont Transit and TNM&O, including: (i) secure and compliant drug testing; (ii) secure employee background screening; and (iii) secure and compliant, real time online data management. The agreements are for an initial term of three years, with two one-year extensions.

"2007 is beginning exactly as I hoped it would," commented Mr. Dexter Morris, Chief Executive Officer of Labwire, Inc. "Our team worked extremely hard throughout 2006, some of the results of which are the contract with Carolina Trailways announced on December 7, 2006 and the contracts with Vermont Transit and TNM&O announced today. In addition to sales and marketing, our general corporate efforts are underway as well with the engagement of Moore & Associates, chartered to conduct an audit of Labwire's December 2005 and 2006 financial statements. We look forward to continued growth and success in 2007."

About Labwire, Inc.

Labwire, Inc. is headquartered in Houston, Texas and 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. This comprehensive solution to managing employee screening services is the most efficient and cost-effective platform in the industry. For additional information about Labwire, Inc., please visit www.labwire.com.

Forward-Looking Statements

This press release contains "forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.

Contact Information

  • Contact:
    S.D. Torrey Hills Capital, Inc.
    James Macdonald
    Investor Relations
    (858) 456-7300