Should be a good day today.
Labwire Signs Alliance Agreement With USIS
Thursday May 15, 9:00 am ET
HOUSTON, TX--(MARKET WIRE)--May 15, 2008 -- Labwire, Inc. (Other OTC:LBWR.PK - News), a leading provider of employee screening solutions, security, and compliance surveillance services, is pleased to report that on April 30, 2008 Labwire signed an Alliance Agreement with USIS, a large national commercial services group. Under the terms of the Alliance Agreement, Labwire will perform drug/alcohol testing services and pre-employment background screening products and services for certain USIS clients: in turn, USIS will offer their products for sale by Labwire to its clients. The agreement is for an initial term of two (2) years and provides for both firms to pay referral fees based on a percent of business delivered. The initial clients referred by USIS will begin transitioning to Labwire on June 2, 2008 and will continue through year's end and will include several large operating units in commercial transportation industries.
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"Mr. Morris and the sales team are to be congratulated for securing this substantial relationship agreement," stated Marlin Williford, CFO. "As this agreement is implemented, it should provide good revenue growth for the 3rd and 4th quarters of this year."
Dexter Morris, Labwire Chairman and CEO, offers the following business insight: "We are excited about our technology gaining the acceptance of a company such as USIS. We see this as a first step in expanding our client base through alliances as well as direct sales and acquisition opportunities. Labwire will continue to seek this type of alliance agreement with other major companies offering various services. We believe that these alliance arrangements will allow Labwire to grow more rapidly utilizing the strength and effectiveness of its operating platform to grow its revenue at a faster rate than conventional sales would allow."
Steve
