SOURCE: eDOORWAYS Corporation

eDOORWAYS Corporation

August 31, 2009 07:30 ET

eDOORWAYS 10K Audit Ready for Filing

Audit Has Been Posted for Public Review as the Company Takes Final Steps for SEC Filing

AUSTIN, TX--(Marketwire - August 31, 2009) - eDOORWAYS Corporation (PINKSHEETS: EDWY) is moving forward on a positive note as it completes its 2008 10K audit. The company, which aggressively steamed forward to meet its expected completion date, has posted the 10K audit to the company's new site, www.edoorwayscorp.com, for public review.

"We have met our self-imposed deadline of completing the 10K audit by today and we determined it would be best to afford shareholders the ability to acknowledge this as we enter into the filing process," said Gary Kimmons, Chairman and CEO of eDOORWAYS Corp.

Typically, once a final draft of the 10K audit is submitted, it goes through a filing process that can take up to 72 hours to complete. This includes Edgarizing a 50 plus page document and committing to one final review by auditors of the Edgarized version of the 10K audit before it's filed. While this process should be of no consequence, for smaller companies like eDOORWAYS which strive to secure shareholder confidence, these logistics aren't usually understood by shareholders. To that end, Mr. Kimmons felt it appropriate to make evident to investors the company's completion of the 10K audit.

The company's post of its 10K for the year ended December 31, 2008 will act as information for shareholders and will be superseded by the actual filing of the 10K. The financial statements included in the posted 10K have been prepared by management and the company's independent auditors who are finalizing their review along with the overall review of the final draft by legal counsel -- both with no assurance that adjustments or modifications will not be required. However, the company, along with its Senior Financial & Accounting Specialist, Mr. Dan Bensimon, have committed to the filing process, which includes these final reviews, strongly believing that such modifications are not likely or if required would likely result in non-material adjustments.

The move for the company to post its 10K prior to its filing (that can still occur today) may be considered a bit unorthodox. However, people close to the company consider this action appropriate as a means to reaffirm shareholder confidence.

"The company is marching toward an important day in the weeks to come and we'd like our house to be in absolute order for that moment," said Kimmons. "I cannot state enough that the work Mr. Dan Bensimon has conducted here is unquestionably top notch and greatly beneficial to the company and our shareholders regardless of the time it has taken. We are pleased that we have the ability to post the 10K audit today and look forward to an expeditious filing of this final draft. Should all things continue as well as they've been so far, the outstanding Q's should be completed within short order and the company could see its soft launch date of October 1st, 2009, as being 'current' on its financials."

For more news and information on eDOORWAYS Corporation, please visit http://www.IRGnews.com/coi/EDWY where you can find a fact sheet on the company, investor presentations, and more.

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 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.

Contact Information

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    For further information, contact:
    At The Company:
    eDOORWAYS Corporation
    Investor Relations
    (866) 482-3829
    Email Contact

    For public relations queries, contact
    The Investor Relations Group
    212-825-3210
    Steven Melfi