AUSTIN, Texas, March 8, 2011 /PRNewswire/ -- eDoorways International Corporation (Pink Sheets: EDWY) is pleased to announce that the Company has come to an agreement with a New York-based independent funding institution to take a leading role in positioning the Company for a significant institutional placement. The placement will be sufficient to support the Company's growth plan for 2011. A condition precedent to the funding is the elimination of all outstanding debt on EDWY's balance sheet. The Company must also bring its financial reports current.
"We are excited to have credible firms lend their hand as we position ourselves in the global marketplace," stated Gary Kimmons, CEO of eDoorways International Corporation. "We now have the opportunity to obtain the funding required to advance to the next level of expansion, as we continue to grow internationally with such organizations as ISTEC, IFEES, and SPEED, to name a few."
"It is also our goal to have eDoorways International Corporation completely free of all outstanding debt as we move forward with the implementation of our business plan. This assistance comes at a vital time to our company as we prepare to excel to the next level; partnering with global entities, expanding our current capabilities, and our anticipated audit to further our transparency efforts," concluded Kimmons.
For more information on eDoorways International Corporation and/or the "eDoorways" (www.eDoorways.com) initiative, please e-mail a package request to info@eDoorwaysCorp.com. You can also visit our corporate website at www.eDoorwaysCorp.com, make comments via the corporate blog (www.eDoorways.wordpress.com), follow us on Twitter (http://twitter.com/edoorways), or visit our Facebook Fan Page (http://facebook.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.
SOURCE eDoorways International Corporation