eDOORWAYS announced after the bell that it has been discussing with its primary creditor, The NIR Group, LLC, regarding the possibility of restructuring the company’s debt. Through strategically restructuring the debt, eDOORWAYS hopes to increase its financial flexibility.
Managing Director of Envision Capital LLC, Eric Noveshen, said, “The negotiations are progressing rapidly which should be a win/win for both companies. NIR’s flexibility afforded to eDOORWAYS could result in higher overall returns to the fund; while providing eDOORWAYS multiple avenues to raise additional capital and expand their business.”
eDOORWAYS received the opportunity to develop its brand after receiving financial support from NIR. The platform, currently being designed by top award winning Microsoft partner speakTECH, will be used to link businesses and consumers to solve lifestyle problems for consumers while driving traffic to goods and service providers. The company is primarily targeting the 45+ million young, Internet-savvy adults and small businesses which presently occupy about 97 percent of the American business scene. This focus covers a large and diverse demographic, making the potential of eDOORWAYS immeasurable.
Both eDOORWAYS and NIR understand the need for restructuring as the brand nears its launch date. Those who have been close to the discussions believe the negotiations have been ongoing for some time now and could conclude with desirable results. Gary Kimmons, CEO of eDOORWAYS, stated, “The fact that NIR has made this consideration is good gesture and testament to their interest in assisting emerging companies like ours. It seems all is going well thanks to NIR’s generosity and the capabilities of Envision Capital.”
Let us hear your thoughts: eDOORWAYS Corp. Message Board
