[LBWR]: Labwire, Inc. issues False and Misleading Press Release
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self-explanatory
http://snipurl.com/false_and_misleading
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self-explanatory
http://snipurl.com/false_and_misleading
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posted by the_worm06 | 5/03/2008 05:56:00 PM
2 Comments:
Why do you choose to ignore the good stuff? Are you really that biased?
April 14, 2008 - 10:00 AM EDT
Labwire Management Announces Financial Accomplishments for 2007
Labwire, Inc. (PINKSHEETS: LBWR), a leading provider of employee screening solutions and canine security and surveillance services, announced that management has completed its review of the unaudited financial statements for 2007 and is pleased to report the following results:
1) RECORD ANNUAL SALES in excess of $4,700,000 as
previously announced.
2) PRE-TAX PROFIT of $382,000. The company should have little or no tax
liability due to a net operating loss carry forward benefit from the
Company Startup in prior years.
3) THE ACQUISITION OF OCCUPATIONAL TESTING, INC (OTI) on October 31, 2007
produces substantial current year and future benefit to Labwire.
A) Total Income for Labwire financial statements of $154,000 with a
Gross Profit of $106,000 and net income of $9,000 (after the
inclusion of all acquisition costs) for the two-month period of
November 1 thru December 31, 2007.
B) Total 2007 Annual Sales for OTI exceeded $860,000 with a gross
profit of $639,000 and net income of $148,000. Total revenue
exceeded the purchase basis of $600,000 by $260,000 or 43%.
C) Based on operating efficiencies and projected sales growth,
management projects this unit has the potential to produce
$1,000,000 in revenue and $225,000 in net income for Labwire
Creede,
Are you kidding?
No amount of press releases will make up for the fraudlulent false and misleading press release issued by LBWR that is the subject of discussion in this blog entry.
There is no explanation for the fraudulent deception made by LBWR whereby $11.25 million in revenues that were stated in the press release really are only about $0.5 million revenues for LBWR.
No explanation.
This is what CEO's of companies get charged for by the SEC.
This is what CEO's of companies get indicted for by the U.S. Attorneys Office.
pathetic
good luck to you
regards,
the_worm06
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