eDoorways announces plans for "significant institutional placement"

Proceeds expected to be sufficient to fund company's 2011 growth plans

By Devika Patel

Knoxville, Tenn., March 8 - eDoorways Corp. said it has arranged a "significant institutional placement," which is expected to raise the proceeds needed to support the company's growth plans for this year.

The offer is conditional upon the company eliminating all of its debt from its balance sheet. It also must bring its financial reports up to date.

The Houston company provides businesses and consumers with a platform for exchanging ideas, services and products within a social networking environment.

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