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eDoorways Anticipates Strong Conclusion of the 4th Quarter
By: PR Newswire
Dec. 3, 2012 08:56 AM
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.
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SOURCE eDoorways International Corporation
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