AUSTIN, Texas, March 15, 2011 /PRNewswire/ -- eDoorways International Corporation (Pink Sheets: EDWY) announced today that the Company is eyeing possible revenue generating acquisitions in the software development sector. eDoorways has initiated dialogue with several software engineering companies that will contribute to both the development of the eDoorways platform as well as its profitability via their acquisition.
"We have established relationships with several profitable development companies that have a preliminary interest in joining our team," stated Gary Kimmons, CEO of eDoorways International Corporation. Contemporaneous with this effort, the Company increased its share authorization to 4.7 billion common shares and is beginning work to complete its audit.
A continuing goal for the Company is to launch its first revenue stream. It is anticipated that first revenues will come via implementation of recently-licensed Voucher Hound technology from Paddington Media, whom has been retained to make the installation. An eDoorways version of the coupon generation software is expected soon and revenues may shortly follow.
Meanwhile, the Company is aggressively working to clear debt from its books as a prerequisite for an institutional funding. "Progress is definitely being made. With a more attractive balance sheet, audited financials, a significant institutional placement, and a return to the OTCBB, the Company believes it will enhance its value in the marketplace. The remaining factor would be revenue generation, and we have that squarely in our target as well," concluded Kimmons.
Should eDoorways' current activities prove successful, the Company will have proven it can do something that most social media companies have difficulty accomplishing - creating a globally-scalable business model that is also profitable.
For more information on eDoorways International Corporation and/or the "eDoorways" (http://www.eDoorways.com) initiative, e-mail a package request to info@eDoorwaysCorp.com. Visit the corporate Web site at eDoorwaysCorp.com (http://www.eDoorwaysCorp.com), make comments via the corporate blog (http://www.eDoorways.wordpress.com), or follow the company 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 forecast 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.
SOURCE eDoorways International Corporation