AUSTIN, Texas, Dec. 3, 2012 /PRNewswire/ -- eDoorways
International Corporation (Pink Sheets: EDWY) announced today that
the Company is anticipating a very exciting end to Q4 of 2012. "We
have been working tirelessly the past couple of months, trying to
end our final quarter on a strong note," stated Chris Mitchell, CFO of eDoorways. "We're excited
to announce that many of these items are coming to fruition, and in
line with our transparency initiative, we're happy to continue to
inform our shareholders."
The primary initiative of eDoorways has been to raise capital in
a non-dilutionary method, to continue expansion of the Company's
business plan. "The first item we're happy to announce is the
finalization of funding to remove long standing debt from our
balance sheet and replace it with equity funding supplied by
long-term holders; therefore, minimizing any near term negative
effect on our securities," continued Mitchell. "We are in the final
stages of securing this capital, in addition to a substantial round
of financing currently in the works. We anticipate not only this
deal adding a healthy valuation to Smart1Systems (S1S), but also
supplying eDoorways with the funding necessary to bring many of our
projects to completion. It's important to note that all of these
investments are being made as long-term holdings into our
companies, payable primarily in restricted notes and
securities."
The other item coming to completion is the long awaited audit,
currently being finalized by the Company's auditing firm. With the
removal of eDoorway's long standing debt, Company insiders expect
the audit's completion before the end of the fiscal quarter. "We
expect to make formal announcements throughout the next couple of
weeks, and we're eager to keep our shareholders up-to-date on the
exciting things happening behind the scenes," concluded
Mitchell.
For more information on eDoorways International Corporation
please visit our website at www.eDoorways.com or follow us on
Twitter (http://twitter.com/edoorways).
Safe Harbor for Forward-Looking Statements:
Except for historical information contained herein, the statements
in this press release are forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Reform Act of 1995. Forward-looking statements involve known and
unknown risks and uncertainties, which may cause the company's
actual results in future periods to differ materially from
forecasted results. These risks and uncertainties include, among
other things, product price volatility, product demand, market
competition, risk inherent in the company's domestic and
international operations, imprecision in estimating product
reserves and the company's ability to replace and expand its
holdings.
Contact:
Heritage IR
(561) 210-5675
info@HeritageIR.com
SOURCE eDoorways International Corporation