eDoorways Corp.’s Director of Operations, Lance Kimmons, announced today that the company completed filing all of what appears to be required 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 OTCIQ.com 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 Pinksheets.com. 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.”
Those close to the company have indicated that compliance with Pinksheets.com can oftentimes be as difficult to get all review items perfect on the first few go rounds as with a full SEC audit. If there are any further comments, Pinksheets will not provide eDoorways with another review until December, 31st, 2009, which means the Caveat Emptor may stay until that time. Otherwise, it is anticipated that if the company has completed 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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