Labwire like all companies accents the positive and attempts to eliminate the negatives from public sight. This is and has always been SOP for businesses of all stripes.
It seems likely to me the time between the loss of Laidlaw revenues and OTI plus other revenues coming on line might have been as much as 7 or 8 months. If so, this probably created a sizable enough hole in Labwire's income that loans were taken until the Company could catch up. If my evaluation of what happened is in the ball park Mr. Morris can't be blamed for not announcing what the use of good logic should have suggested to every shareholder during this time that Labwire would encounter a period of rough sailing.
Since Laidlaw was acquired by First Group in Feb. '07 Labwire has accomplished much:
(1) Acquisition of Occupational Testing, Inc. (2) Alliance agreement with USIS (3) "Red Flags" Identity Theft software service (4) Implemented 140 additional service units in 20 states (5) Evergreen International acquired as new client (6) Introduction of New Product (Form I-9 line with Kroll, Inc. Labwire's revenue-income gap from the loss of Laidlaw has basically been closed.
What Labwire needs and which appears to be in the making is continued revenue-earnings growth. Just two examples: (1) It's been learned that only a small portion of total revenues expected from Evergreen International has been realized this year and that because its business is seasonal the major portion of testing results/Labwire revenues will be later in the year. (2) It's been announced that the Company will approach 500 hospitals with Labwire's Identity Theft and Restoration product this fall. While no doubt we'll be reading the posts of those who have no LBWR shares who will be pointing out every imaginable Company problem and flaw my bet is on Labwire to continue increasing its revenues-profits, retire its loans and emerge as a healthy and aggressive player in its market.
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