eWorldMedia reports Business Plans on Track
LOS ANGELES, April 10 /PRNewswire-FirstCall/ -- Henning Morales, CEO and President of eWorldCompanies, Inc. (OTC: EWDC), affirmed today that all the company's business plans are on track and ahead of schedule and that company executives are very optimistic about the company's near and long term prospects. eWorldCompanies, Inc. has not yet released any official financial projections. However, the company has previously announced that two of its major goals are (1) to acquire at least 1 million Boomerang downloads by the end of this year, and (2) to be profitable by the 4th quarter of 2007. These goals were reaffirmed in today's announcement.
According to Mr. Morales, today's statement was released partially in response to this week's unusually large increase in trading volume. Mr. Morales commented, "In lieu of this week's extraordinary market activity, we feel it is important to address a few issues from a company standpoint. We are obviously pleased that there is an active market in our stock, but we cannot explain why there has been such a rapid increase in volume. Nor do we believe that the current price of our stock is an adequate reflection of its value. The company did begin a stock-selling program to raise capital a few days ago, but this began only after the huge increase in volume was well underway. Another factor might be the market's awareness that eWorldCompanies, Inc. just became publicly traded through a reverse merger about six weeks ago. We are still in the process of gathering all the company's past public records from the previous shell owners, including the final numbers of any preferred shares that might be converting to common and the total amount of any debt conversions. And it's also possible that some naked short selling may be taking place, something we intend to investigate. If this is occurring, the company will aggressively pursue all available avenues to pursue the issue. Meanwhile and on a very positive note, everyone at eWorldCompanies, Inc. is working diligently to create a strong company, our developmental plans remain solid and on track, and we remain excited and optimistic about both our short and long-term financial future. Our operating subsidiary, eWorld Entertainment, Inc. is aggressively moving toward its goal of becoming a major player in Network Marketing, Affiliate Marketing and Online Advertising. We have already issued several press releases informing the investment community of its ongoing activities, and we intend to issue many more of them in the coming weeks and months."
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eWorldMedia reports Business Plans on Track
eWorldCompanies, Inc. Reports That Business Plans Are 'On Track and Ahead of Schedule' and Addresses Issues Concerning Recent Market Activity LOS ANGELES, April 10 /PRNewswire-FirstCall/ -- Henning Morales, CEO and President of eWorldCompanies, Inc. (OTC: EWDC), affirmed today that all the compan... Read More...
