eDoorways International Corp. EDWY
We like eDoorways, a well-diversified company that we feel is moving in a positive direction, with some exciting things going on just under the surface.
Fitness guru Mike Torchia (trainer of such big-name celebrities as Al Pacino and Matt Damon) is in league with EDWY working on a health & fitness app, the production of which is being aided along by Hollywood special effects wizard, Alison Savitch.
In August, EDWY subsidiary Smart 1 Systems, Inc. added Savitch as VP of New Media Technology. Savitch is better known as a digital effects producer for major motion pictures such as Avatar, Dogma, Terminator 2, Arachnophobia, and more.
It will be exciting to see the app once it is finished, so we’ll certainly be on the lookout for further updates in that regard.
The company has also been focused on getting its books in order, the efforts of which are outlined in the PR found below, but first, take a look at the ripening chart:
As we can see, the Accum./Dist. is rising sharply as momentum and volume has increased over the past few trading sessions. The stock closed at the high of day yesterday, at .03, up another 20% We’ve been tracking this thing since a low of .0153 last week, and we are up 96% from that point, at current levels. We can also see a PPO and Slow STO which have superseded the 50MA, and the PPO in particular looks ready for a bullish cross any time now. The RSI has also broke the 50MA and is rising toward the power zone. Passing by the 200DMA of .031 would be hug- the last time the stock breached that point, there was a run to .05.
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PR out yesterday:
AUSTIN, Texas, Dec. 3, 2012 /PRNewswire via COMTEX/ — eDoorways International Corporation (Pink Sheets: EDWY) announced today that the Company is anticipating a very exciting end to Q4 of 2012. “We have been working tirelessly the past couple of months, trying to end our final quarter on a strong note,” stated Chris Mitchell, CFO of eDoorways. “We’re excited to announce that many of these items are coming to fruition, and in line with our transparency initiative, we’re happy to continue to inform our shareholders.”
The primary initiative of eDoorways has been to raise capital in a non-dilutionary method, to continue expansion of the Company’s business plan. “The first item we’re happy to announce is the finalization of funding to remove long standing debt from our balance sheet and replace it with equity funding supplied by long-term holders; therefore, minimizing any near term negative effect on our securities,” continued Mitchell. “We are in the final stages of securing this capital, in addition to a substantial round of financing currently in the works. We anticipate not only this deal adding a healthy valuation to Smart1Systems (S1S), but also supplying eDoorways with the funding necessary to bring many of our projects to completion. It’s important to note that all of these investments are being made as long-term holdings into our companies, payable primarily in restricted notes and securities.”
The other item coming to completion is the long awaited audit, currently being finalized by the Company’s auditing firm. With the removal of eDoorway’s long standing debt, Company insiders expect the audit’s completion before the end of the fiscal quarter.
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More Info at: http://www.edoorways.com
Extended Watchlist:
GSPT, PPHM, PRPM, MMMW, CPPD,