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eDoorways Files Form 15, Focuses on Securing Additional Revenue Opportunities

^{Published on 2010-05-12 05:10:35 - Market Wire}
 

AUSTIN, TX--(Marketwire - May 12, 2010) - [ eDoorways Corporation ] (PINKSHEETS: [ EDWY ]) recently filed Form 15 with the SEC. This means that eDoorways is not formally required by the SEC to submit filings. This is a compliance strategy that the company can change simply by making their filings; it does not constitute a change from their current operational status. Daily trading will continue as usual and eDoorways has absolutely no plans to take a voluntary de-listing (i.e., stop trading) or to go private.

The decision to elect non-reporting status for the time being is due in part to the fact that completing the corporate audit will be a considerable expense due to the derivative issues associated with the company's debt. It is also designed to give eDoorways more freedom to focus on getting their eDoorways service ([ www.eDoorways.com ]) into the marketplace and to generate revenue. The company is currently experiencing a very favorable response to their website and to the new PowerKey channels. Therefore, they believe that there is a unique opportunity to make significant inroads in a short amount of time. Opportunities like CorkSport, their first PowerKey Channel client, are going to create significant short term revenue for the company.

Gary Kimmons, Chairman and CEO of eDoorways Corporation, stated, "We currently have several PowerKey Channel opportunities similar to CorkSport which will bring in a significant number of users. We believe it's imperative to spend our capital on getting the product out and attaining profitability. We believe that building traffic and generating revenue are the most important things we can be doing. When those are achieved, all good things are possible."

In the near future the company believes that focusing on preserving cash, continuing to enhancing their product, and focusing on building the business is where they should direct their focus. When they achieve those objectives, they will then shift the emphasis to include getting their financial reports filed with the SEC. At that time, the company's financials and corporate valuation could earn them entry into one of the higher markets such as Nasdaq.

About eDoorways Corporation

For more information on eDoorways 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 ]), our Facebook Fan Page ([ http://facebook.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.