EarthSearch Enters a $5 Million+ Multi-Year Master Distributor Agreement with Komtelecom, Russia
EarthSearch to implement Russian Glonass GPS Receivers into Devices
ATLANTA, May 29, 2012 /PRNewswire/ -- East Coast Diversified Corporation (OTC.BB:ECDC), through its subsidiary EarthSearch Communications, Inc., announces a $5 million+, Five Year Master Distributor agreement with Komtelecom in Russia.
The agreement would allow Komtelecom to be our exclusive representative in Russia with non exclusive representation in 10 other former Soviet Republics. Komtelecom will be able to host our software under a special licensing agreement, secure its own local distributors and partners in the region to offer advance and complex logistics solution provided by EarthSearch.
Under the terms of the agreement, EarthSearch will modify its hardware to utilize the Russian made Glonass GPS receivers which works exclusively within the Russian territory and former Soviet republics. EarthSearch will also for the first time, host its proprietary GATIS application outside the US, in Russia. Minimum annual purchases under the agreement over the 5 years will average $1,000,000 plus per year including other development and service costs.
"We have been working to establish presence in this region for some time now. It is a vibrant and fast growing market with significant need for advanced cargo and asset security technology. EarthSearch offers complex logistics application well suited to the needs in Russia. I am looking forward to working with Boris Kunin, CEO and all the other executives at Komtelecom," said Kayode Aladesuyi, CEO of ECDC
Komtelecom has been testing and piloting the EarthSearch LogiBoxx device and RFID solutions over the last 6 months. We are therefore able to enter this agreement with a number of projects already in the pipeline. Aladesuyi further stated, "We expect to create several custom solutions to meet the demand for asset and business management, we are looking forward to the opportunities."
"There is a significant need for EarthSearch technology and the solutions it offers in the region, the movement of cargo within Russia and some of the other Soviet Republic is very significant and the technology to track, monitor and secure these assets and cargo are very much needed," said Rob Bohorad, Director Business Development of EarthSearch.
About East Coast Diversified Corporation
East Coast Diversified Corporation (OTC.BB: ECDC.OB) is a holding corporation with a diversified group of technology companies. Its business portfolio includes businesses offering technology for logistics and asset management, media entertainment technology, transportation safety and class attendance monitoring system and social media applications.
EarthSearch offers solutions using the world's first wireless communication between GPS and RFID. EarthSearch delivers solutions relevant to the operations of businesses and governments across the globe, providing efficiency, cost saving, continuous visibility of assets and cargo in transit, with real time visibility across the entire supply chain. Solutions delivered include warehouse operation, movement of secured cargo, oil tankers, pipeline and other fixed assets management solutions. EarthSearch solutions integrate sensor technology for fuel monitoring, temperature sensor, weight sensors, door sensor and a variety of other custom applications.
StudentConnect also utilizes our proprietary wireless communication between GPS and RFID to provide transportation safety and class attendance monitoring solutions to schools, alerting parents and schools of safe departure and arrival of students riding on school buses and providing an automated class attendance monitoring system that engages parents with information about student behavior at school, including providing real time notification regarding truancy and skip class behavior. StudentConnect uses wireless technology integrated with GPS/RFID to gather and combine parental behavior, student behavior at school and academic data to create predictive analytics for school administrators that help with improving education.
Rogue Paper's award-winning social media technology. TV Tune-In, developed by Rogue Paper, is a real-time, companion viewing and mobile app development platform for media companies to help drive viewership, conversation and interactions for television shows and content. TV Tune-In's CMS allows media companies to develop branded iPhone and iPad apps for television shows and channels. Powering such category leading applications as MTV's WatchWith and VH1's Co-Star iPhone and iPad applications, users can actively comment along with their favorite show (live or time-shifted).
WetWinds, a new social media division scheduled to launch in summer 2012 will deliver interactive social media experience to audiences and users across the globe. Register to be part of the first one million global beta users at: www.wetwinds.us
For more information on East Coast Diversified Corporation and its group of companies please visit the company's website at www.eastcoastdiversified.com.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.
East Coast Diversified Corporation
SOURCE East Coast Diversified Corporation
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