ATLANTA, Oct. 03, 2011 /PRNewswire/ -- East Coast Diversified Corporation (the "Company") (OTC.BB:ECDC), through its subsidiary EarthSearch Communications, Inc., announced the execution of a term sheet for the acquisition of mobile development company Rogue Paper.
EarthSearch has announced it has signed a term sheet agreement with California based Rogue Paper, a developer of media mobile and branded applications for major media companies.
Under the terms of the agreement the acquisition will consist of the issuance of preferred shares, which should have minimal effect on the company's current share structure. A final definitive agreement between both parties is expected to be filed in a form 8K with the SEC within the next 30 days.
About Rogue Paper
Based in California's 'Silicon Valley', Rogue Paper is a developer of TV Tune-In Application
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. The apps aims to attract fans around live viewing of their favorite show, event, or sports team. Users can actively comment, Tweet and Like their favorite show, chat with friends, play trivia games, watch exclusive video content, photos and more. www.tvtunein.com www.roguepaper.com
Current TV Tune-In (Rogue Paper) Clients
The Company has partnerships with MTV to use their TV Tune-In platform, and VH1 for the launch of their VH1 Co-Star app, which allows users and viewers to interact, in real-time, with other fans during live TV shows.
Stephanie Boyle, CEO of Rogue Paper, Inc.
Stephanie has worked at the intersection between mobile, entertainment, user experience, design and media since the birth of the mobile Internet in early 2000, and brings a variety of product and business skills to Rogue Paper. Stephanie was a founding member of Ericsson's digital media innovation center, Ericsson Mobility Word (née Ericsson Cyberlab a joint venture between the NYC Investment Fund & Ericsson) that ultimately had 30 centers covering 140 countries. During her nearly 10 year tenure at Ericsson, Stephanie was the Director of Innovation & User Experience where among many products and services, she conceptualized TV 2.0 for mobile, Internet, and IPTV.
Kayode Aladesuyi, the CEO of EarthSearch Communications commented, "EarthSearch is very pleased to welcome Rogue Paper, and Stephanie Boyle to the EarthSearch Communications family, I am looking forward to working closely with her so we may align our business goals and objectives. Rogue Paper will be instrumental in developing our new mobile division through their years of expertise within the mobile industry, and also help expand our reach into the social media space with some of our current products."
About EarthSearch Communications
EarthSearch Communications, an ECDC Company (OTC.BB:ECDC.ob), is a US-based business whose flagship product, LogiBoxx™, integrates GPS and RFID at the hardware level. When combined with its proprietary Global Asset Tracking and Identification System (GATIS) middleware, LogiBoxx and GATIS become the centerpieces of a LogiBoxx Certified Solution. An unprecedented business decision-making tool, a LogiBoxx Certified Solution offers continuous visibility within the Supply Chain, Logistics, and Asset Management and Control industries. Along with its integrated, patent-pending GPS and RFID technologies, EarthSearch also offers a complete line of innovative RFID solutions. Its expertise with GPS and RFID technologies, combined with exceptional support and service facilities, distinguishes EarthSearch as a leading manufacturer and supplier of real-time location solutions in the marketplace. For more information on EarthSearch, visit www.earthsearch.us.
"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.
EarthSearch Communications, an ECDC Company
SOURCE EarthSearch Communications