AUSTIN, Texas, June 12, 2013 (GLOBE NEWSWIRE) -- eDoorways International Corporation (OTC Pink:EDWY) has engaged Simon Kogan, Esq of New York City to serve as specialized legal counsel. Mr. Kogan will represent the Company in dialogue with the Depository Trust Company ("DTC") to resolve its DTC chill matter.
On August 11th, 2011 EDWY was issued a deposit chill by DTC. A deposit chill is issued by DTC when a company has one or more transactions that it wishes to have clarified. At that time DTC ceased accepting deposits of the Company's issue for depository and book-entry transfer services. Since then, brokerages with clients trading EDWY securities have been clearing the stock under the "old" X transfer manual system. This severely limits the Company's ability to conduct its business.
The Company's objective is for Kogan to help EDWY resolve any outstanding issue that may exist to have the chill removed by DTC as quickly as possible. EDWY elected to engage Kogan based on his demonstrated success in helping companies get their chills removed. Other companies that have successfully teamed with Kogan in DTC-related negotiations are Mindpix Corporation (MPIX), Alliance Creative Group Inc (ACGX), and GDT Tek Inc (GDTK).
"I am pleased to represent EDWY on this issue and am confident we can achieve the desired outcome," stated Simon Kogan.
For more information on eDoorways International Corporation please visit our website at www.eDoorways.com.
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.