HOUSTON, TX, United States, via ETELIGIS INC., 02/24/2015 – – eDoorways International Corporation (OTC Pink: EDWY) (PINKSHEETS: EDWY), today announced that it is taking immediate steps to reduce the number of authorized common shares (AS) as well as the number of outstanding shares (OS).
An EDWY affiliate shareholder has indicated its interest in relinquishing 1 billion common shares for immediate return to the company’s treasury. Steps are now being taken to effectuate the decision. Upon completion of this action EDWY’s Board of Directors will provide its consent to reduce the company’s authorized shares from 2,500,370,900 shares to 1,500,370,900 shares.
EDWY anticipates that the steps to reduce its AS and OS will be completed within thirty business days or less. Arne M Ray, Director Tempore explains, “We are taking positive steps to increase EDWY’s value in the marketplace. It should be noted that the reduction in our OS is being made at the recommendation of our majority shareholder. The shareholder has already relinquished its voting control. Now our majority holder is taking the unprecedented step of surrendering a large portion of its common holdings to move EDWY in a positive direction. We appreciate this action and anticipate significant progress in other areas as we move forward.”
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Safe Harbor for Forward-Looking Statements:
Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company’s actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company’s domestic and international operations, imprecision in estimating product reserves and the company’s ability to replace and expand its holdings.
Arne M Ray, Director Tempore
SOURCE: eDoorways International Corporation