Toolbuilders Laboratories Announces Merger Cancellation

Spokane based software company continues to seek funding.

Spokane WA (PRWEB) April 10, 2005 -- Today the Board of Directors of Toolbuilders Laboratories Inc. announced that the Companys intended merger with Temporary Financial Services, Inc. (TPFS), a public company, has been terminated.

Sandy Wheeler, CEO of Toolbuilders, noted," The cost of due diligence, particularly in light of the increased provisions of the Sarbanes-Oxley Act made the benefits of combining the companies prohibitive." He further stated,"TFS has a great group of people and it is unfortunate we couldnt make this work."

Toolbuilders will continue seeking additional funding requirements from private sources.

Toolbuilders Laboratories Inc. is the leading innovator and provider of 'Continuous Software Lifecycle Improvement solutions. They provide effective, affordable and intuitive products for enhancing software professionals productivity, comprehension and oversight throughout the software lifecycle. Toolbuilders solutions continuously improve the way software professionals and management work and the ultimate quality of the software they produce, deploy and maintain.

Toolbuilders Laboratories (www.toolbuilders.com) is located at 505 N. Argonne, Bldg A, Suite 1, Spokane Valley, WA 99212. Contact by phone at (800) 837-9712, or by e-mail through info@toolbuilders.com

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