eDoorways Corporation

December 22, 2009 15:03 ET

eDoorways Completes Requirements to Resolve Caveat Emptor

Company Awaits Review From Pinksheets in Hopes of Meeting Review Requirements -- Company Affirms That Such Status Will Have No Effect on Holiday Release of "SOLVE" Beta v1.0

AUSTIN, TX--(Marketwire - December 22, 2009) - eDoorways Corporation (PINKSHEETS: EDWY) Director of Operations, Lance Kimmons, announced today that the company has just completed filing all of what appears to be the required documents for OTC/Pinksheets and its website.

"The information required for the Pinksheets is rather extensive and exhaustive," stated Lance Kimmons. "Much like the SEC audit, the information requested was in depth and in some instances very specific to Pinksheets."

"As I reported last week, initially we immediately reapplied to the Pinksheet website via the OTC Disclosure and News Service. We then executed the OTC I.Q. Agreement for and paid the $500 application fee along with the $3,000 annual fee. From that point, we updated all of the required information, provided the Initial Company Information and Disclosure Statement, and waited for approval prior to having an opinion letter rendered.

"Keep in mind that compliance with any of these securities organizations implies extreme detail on their end, which imparts a series of comments that must be answered by public companies. To this, there is no pre-determined time expected to be met in order to complete the given task. Over this past weekend and up through today, I, along with our special counsel and accounting specialist, worked diligently to once again comply with We are extremely confident that from our view, we have contemplated and completed all items requested of us. We now simply await either further comments or a change to our status."

Sources close to the company indicate that compliance with in some cases is unique to the organization and oftentimes as difficult to get all review items perfect on the first few go rounds as with a full SEC audit. Should there be any further comments, Pinksheets will not provide eDoorways with another review until December, 31st, 2009; possibly leaving the Caveat Emptor on the status until that time. Otherwise however, it is anticipated that if the company has met with the review requirements, the Caveat Emptor would be removed shortly.

Lance Kimmons concluded, "While we do not wish carry this status any longer than necessary, we can assure our shareholders that nothing is going to prevent eDoorways from releasing its "SOLVE" Beta v1.0 this holiday season."

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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 customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission.

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