SOURCE: eDOORWAYS Corporation

eDoorways Corporation

February 24, 2010 07:00 ET

eDoorways Becomes a Member of Prominent International Organization -- Signing Deal to Bring 20 Million Online Users to Platform

Deal Between eDoorways and ISTEC Is Expected to Generate High Monthly Revenue Through International Introductions and Sale of Power Keys to New User Base

AUSTIN, TX--(Marketwire - February 24, 2010) -  The eDoorways Corporation (PINKSHEETS: EDWY) announced that it has recently signed an Agreement with Ibero American Science and Technology Education Consortium (ISTEC), facilitating the company's access to approximately 20 million online users as well as other strategic introductions globally. 

"This deal truly gives eDoorways immediate access to online users in a big way," said Mr. Gary Kimmons, Chairman & CEO of the eDoorways Corporation. "With this relationship, we expect to significantly increase our visibility as we gain an international user base as well as see our initial revenues in the second quarter become dramatically greater than anticipated. With the high expectation for our PowerKeys, now to be purchased and used by a much larger audience, it is conceivable that by late in the 2nd quarter, we could possibly begin generating a couple of million dollars monthly from this relationship alone. That would be the power of ISTEC and this marriage."

ISTEC, founded in 1990 as a spinoff of University of New Mexico (UNM), has become one of the largest non-profit consortia in the Americas dedicated to improving the quality of life through education throughout Latin America, Spain and Portugal. Harnessing the strength of its faculty and staff members, ISTEC members develop content in science, technology, engineering, math, R&D and entrepreneurship for the estimated 20 million university student population throughout Latin America and other parts of the world.

Sources close to the deal believe that the potential exists for at least a 5% penetration of the 20 million student population within 12 months effectively beginning in the second quarter. This would result in 1 million additional users not factored into any of the company's original revenue models. 

The agreement between the two groups called for eDoorways to become a member of the consortia, which has been effectuated. eDoorways is expected to provide a comprehensive web-based service offering featuring intelligent performance support for such lifestyle areas as problem solving, learning, innovation and creativity, and leisure/entertainment to ISTEC members and affiliates. eDoorways will also interface and coordinate with ISTEC to insure the operations are consistent with pre-determined ISTEC requirements and needs. The company will provide ISTEC with client maintenance and support as required per contract and offer customer care, client billing and financial management of the operations.

ISTEC will be responsible for providing and managing prospect introductions. The organization will assist eDoorways with securing clients and advising on client activity as mutually agreed between the two groups while providing assistance in the client operating areas as required. ISTEC will also assist eDoorways with securing the necessary rights/authorizations for connectivity/services to ISTEC client facilities, as necessary.

Dr. Ramiro Jordan said, "We have always seen eDoorways as a powerful way to utilize the Internet in pursuit of our objectives. It was just a matter of time as we needed to be confident that the developing company could accomplish its own objectives and stay the course. Today, in our opinion, eDoorways has done so and is continuing to propel itself forward. We look for alliances with not only successful organizations, but those organizations demonstrating the will and tenacity to strive for something extraordinary. eDoorways is that company, and we wish to be on the ground floor of their vision. The platform they offer uses social networking in two areas of great interest to ISTEC and we wish to make these products and service offerings available to our growing international concern in a financially benefiting way."

Both parties will participate in co-marketing and co-branding of eDoorways' products and services provided under the Strategic Alliance Agreement. This will allow eDoorways a greater reach with reduced marketing cost. While ISTEC is ultimately interested in supporting the entire eDoorways platform suite of products and services, the initial emphasis will be placed on eDoorways' first service offering, "SOLVE." ISTEC will also be very active in the marketing and branding of the second much-anticipated doorway "LEARN," which is expected to have its first demonstrable working concept version of the doorway by the end of the first quarter.

With the upcoming event in March where eDoorways is expected to make a splash on a major technology stage; v2.0, which is expected out this week and v2.5 (ETA -- end of 1st QT), will only add to the company's ability to potentially compete with major technology firms while receiving global acceptance due to ISTEC's reach to a captive audience of millions worldwide.

About ISTEC

ISTEC is a non-profit organization comprised of educational, research, industrial, and multilateral organizations throughout the Americas and the Iberian Peninsula. The Consortium has been established to foster scientific, engineering, and technology education, joint international research and development efforts among its members, and to provide a cost-effective vehicle for the application and transfer of technology.

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.

Contact Information

  • For further information, contact:

    At The Company:
    eDoorways Corporation
    Investor Relations
    (866) 482-3829