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eDoorways Corporation: eDoorways Signs Letter of Intent to Purchase Mobile Video Transceiver Technology and Expertise of Ian Mi

^{Published on 2009-10-14 07:12:48 - Market Wire}
 

AUSTIN, TX--(Marketwire - October 14, 2009) - [ eDoorways Corporation ] (PINKSHEETS: [ EDWY ]) increases the prospect of its service offering reaching an even broader audience through a letter of intent the company has signed to purchase the mobile device technology and services of a development team from Ian Mitchell of Universal Design Technologies, Inc. eDoorways will operate its acquisition as a wholly owned subsidiary.

The technology to be purchased supports what eDoorways calls the "eC Device." Mr. Mitchell describes the "eC Device" (the first conceptual iteration of the device was displayed at the unveiling) as a first-person perspective, video transceiver resembling an earpiece with a video display lens that goes over the eye, projecting images to the user. The eDoorways subsidiary plans to develop the eC Device for market consumption as well as provide platform integration of smartphones for the iPhone OS, Android OS, and RIM Blackberry OS. The eC Device is intended to augment a user's experience on a mobile handset -- providing "Performance Support."

An Austin-based entrepreneur, Ian Mitchell's accomplishments stem from a successful real estate career borne from construction, architecture and engineering. However, his genius is firmly planted in biomedical and interface technologies. Aside from his co-founding role at m&m Biomedical Corporation, Mr. Mitchell is the President of Universal Design Technologies, Inc. Through Universal Design Technologies, Inc., Mitchell has contributed to the type of human interactive devices and motion control systems in the market today.

Gary Kimmons, Chairman & CEO of eDoorways Corporation, said, "The addition of Ian's technology to eDoorways enhances our ability to bring the web to the user regardless of where that user is. The eC Device complements our various doorway offerings by making the real-time web options eDoorways provides accessible to anyone anywhere."

In exchange for eDoorways' preferred stock, Ian Mitchell will deliver to eDoorways $240,000 in cash. This exchange will allow eDoorways to own and produce the "eC Device," operate the subsidiary with an unlimited exclusive right to license its [subsidiary] patents. In addition, the Company will get 80% of the proceeds received by Mr. Mitchell for the next 3 years as a result of patents and devices related to motion control systems as it pertains to a pending European license with a developer of medical devices. Also, Mr. Mitchell will join the eDoorways Board of Directors.

Ian Mitchell said, "I believe that the eC Device and the vision of eDoorways will create a synergy capable of making person-to-person interactions via the web more powerful, more useful, more human and available in 'real-time.' Currently, the computing world is undergoing a significant shift toward mobile computing. In Latin America, for example, the ratio is roughly 5 mobile device users for every desktop, fixed-point user. The future of the web is mobile, and eDoorways plans to take full advantage of this paradigm shift. The eC Device will play a significant role in our future strategy."

Gary Kimmons adds, "By adding Ian to our board, we are also acquiring a technological expertise that will prove invaluable to our future growth. He has the wide range of understanding you'd expect from someone who studied both music and chemistry in college. He has been an architectural consultant, worked in conjunction with NASA and was a core innovator in diagnostic devices focusing on chromatographic spectroscopy. He is one of those people who knows where technology is going because he is one of the people taking it there."

People close to the company welcome this acquisition as it will support worldwide acceptance and use of the eDoorways service offering, regardless of which doorway is accessed, increasing and diversifying the company's revenue streams.

About eDoorways Corporation

For more information on eDoorways Corporation and/or the "eDoorways" 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 call toll free at (866) 482-3829.

Safe Harbor

Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission.