"The BSA was earned by our company as a result of our experience and expertise in providing similar services to certain of Petrochemical Company's land-based facilities and to one of its oil and gas operating platforms located in the Gulf of Mexico following Hurricanes Katrina and Rita."
Dexter, ROTFLMBO! He did everything but say Shell.
Mars Tension-leg Platform (Shell RBS.A - NYSE)
Bob, I understand you cynicism, but let's not forget that we are talking about a pinksheet company that keeps expanding itself with deals with Fortune 500 companies. It's another example of Dexter seeing a need in the world, and filling it. Before 911 there was almost no demand for K-9 units. Now he believes that it is going to be just as big as the drug testing and background screening....which we are obviously doing along with the K-9's. The K-9's are a perfect fit with the business model.
Bob; I do like your posts because you offer some very good analysis but.... are you a pessimist at heart? It seems that everything that happens has a negative twist in your opinion. Just giving you a hard time :) I like seeing the contracts and want more. I also prefer the drug testing contracts since our overhead on that is low and we can make a lot with very little manpower. I think we will see more drug contracts soon. Is that a pump?
BTW; I see you on the YPNT board. I am in, are you?
RE Lbwr.pk new contract announcement. I'm not so sure. This is not all new money. This is the first big K-9 contract they got during hurricane season last year.
Hey, is this what you are talking about?
Labwire Announces Contract Extension with Major Oil, Gas and Chemical Company Tuesday October 25, 2005 8:30 am ET Deploys Canine Security Units to Port Arthur Refineries
HOUSTON, Oct. 25, 2005 (PRIMEZONE) -- Labwire Inc. (Pink Sheets:LBWR), a leading Employee Screening Solutions Provider, today announced that the Company has deployed additional canine units for security and bomb detection to their Port Arthur refinery client located in Port Arthur, TX. The deployment will last through November 4th and fall under the Company's existing agreement with one of the world's largest oil, gas and chemical companies. ADVERTISEMENT
``Our ability to quickly and effectively react to Norco's and Port Arthur's needs in the wake of two devastating hurricanes demonstrates our commitment to providing professional and timely customer service, resulting in an expansion of our agreement. In addition to successfully providing employee screening services via our leading edge Labwire Platform, we will continue to offer canine surveillance and security services to power plants and refineries through strategic partnerships,'' commented Dexter Morris, President of Labwire.
The Port Arthur Refinery is comprised of 3,500 acres with approximately 2,000 acres of operations and is considered to be one of the preeminent Gulf Coast refineries. The Port Arthur Refinery manufactures motor gasoline, aviation fuel, diesel, industrial fuel oil, lubricating oils and petrochemical feedstock.
Labwire Inc., headquartered in Houston, TX, provides secure and compliant employee drug screening and background checking services to Fortune 500 corporations via the Labwire Platform. Labwire's wholly owned subsidiary, Workplace Screening Services, provides security services to the chemical facilities and oil and gas refineries in Norco, Louisiana, that consists of canine bomb detection and canine surveillance. The first canine team was successfully deployed on June 1, 2005, through an affiliate partnership with American K-9 Bomb Search Inc., Houston, Texas.
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.
Contact: ZA Consulting Inc. Investors & Public Relations David Zazoff (800) 596-8388 (212)505-5976
-------------------------------------------------------------------------------- Source: Labwire Inc.
I agree. This PR has major holes in it. A careful reading of the PR indicates that the possibility exists for no new business. It's up to each individual site as to whether to use LBWR's services. To generate $2.5 million annually from this client is highly unlikely.
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