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Houston, TX, United States, 2010/08/03 - eDoorways has signed an agreement with Ajene Watson, LLC that calls for the New York-based financial services firm to convert a portion of its outstanding EDWY debt holdings.
eDoorways has signed an agreement with Ajene Watson, LLC to convert a portion of its outstanding EDWY debt holdings to assure that eDoorways will have sufficient capital in hand for the rollout of its new web-based service called “PowerChannels.” While the exact amount of the funding will depend on the near-term financial requirements of eDoorways, it is expected that the total financing made available will be in the range of $1 million to $3 million dollars.
“We are moving closer to becoming a revenue generating company,” stated Gary Kimmons, CEO of eDoorways. “We should start seeing revenue as our clients become more fully engaged with our platform and services. That process is happening now. In the meantime, we will continue to draw from available resources to underwrite our effort. Ajene Watson LLC has been a strong supporter of our company and is continuing to show their support by helping us access short-term financing. Our strategy has always been to take only that which we need to get the job done. In this case, Ajene Watson LLC is taking steps to assure that we have several million dollars available. The exact amount of the financing will depend on the cost of rolling out PowerChannels.”
eDoorways is positioning itself for near-term self-sufficiency. With the expected success of PowerChannels, the company plans to generate revenue by billing for e-commerce transactions, charging for PowerKey notification, and charging fees for educational accreditation. It is expected that the funds it receives through the current agreement with Ajene Watson LLC will assure that the company successfully reaches its goal.
About eDoorways Corporation
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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 Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
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