In a press release today, eDOORWAYS Corporation and Mr. Dan Bensimon, the company’s Senior Financial & Accounting Specialist, gave investors a general idea of when to expect completion of the company’s filings. Mr. Bensimon has spent a considerable amount of time getting familiar with eDOORWAYS’ policies, procedures and accounting activity and has conversed with the company’s auditor and SEC counsel.
If the company continues to stay on track, Mr. Bensimon expects the 10K, along with the 1st and 2nd Quarter Q’s, will all be completed by the end of August. This would put the company on course with its Q3 filing for ’09 and set the pace for timely filings. Although he believes the 10K will likely be completed by July 31st, Q1 by August 15th and Q2 by August 31st, Mr. Bensimon said that he would rather set a manageable date for all of the filings.
Mr. Bensimon commented, “I know for some this may appear as too much time for the completion of a few filings. However, what is important for shareholders to understand, the goal is not simply to complete an audit, but to see a company reach its fullest potential. This means becoming current, remaining current and confidently moving onto a better exchange. This can only occur when a company’s management and its accounting professionals take the time to ensure the messages being sent to the public are absolutely reflected and proven by their books.”
“To accomplish this first requires that I acquire a full understanding of the company’s policies, procedures and accounting activity,” he continued. “We must confirm that transactions originally posted do not conflict with the company’s accounting policies — then properly post accounting entries. Finally, we must minimize possible tax liabilities. This means curbing any foreseeable tax exposure and expunging any negative precedence that would fly in the face of proper record keeping.”
Mr. Bensimon concluded saying, “This is all very important for a company that could very well end up on a major exchange very quickly due to its October launch.”
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