East Coast Diversified Corporation Issues Year End Report as Revenues Increased 480% Company revenues increased through successful pilot projects and acquisitions around the world
ATLANTA, Dec. 15, 2011 /PRNewswire/ -- East Coast Diversified Corporation (OTCBB: ECDC) ("ECDC" or "The Company") today announced its 2011 year end report and 2012 growth strategy. Through pilot programs testing of ECDC's RFID/GPS technology and its acquisition of Rogue Paper, ECDC was able to increase revenues from $129K in 2010 to $617k in 2011 while establishing a global network of distributors and business partners to help further the Company's growth strategy.
ECDC's management is currently focusing on deploying its RFID/GPS technology for logistics operations where cargo content management is the critical objective, oil tanker monitoring, waste management operations, and school transportation and attendance solutions. Management is also engaging in business diversification as seen with its acquisition of social media company Rogue Paper.
- The Company completed its StudentConnect product in August 2011 and is intending to have a full market launch in early 2012. ECDC integrated the Twitter API with its system as a global and emergency messaging platform for schools and has engaged several school districts for the utilization of StudentConnect in 2012.
- ECDC has trained and equipped partners in 18 countries around the world with its RFID/GPS software platform. These partners, who will be marketing and selling the Company's products and technology beginning in January 2012, are located in countries such as the U.S., Britain, Russia, Australia, Sweden, Malaysia and Nigeria.
- ECDC's acquisition of media entertainment technology developer, Rogue Paper has helped lead the Company into the social media universe. Rogue Paper, which boasts clients such as VH1 and MTV, is ECDC's own TV Tune In App and acts as a communication interface for posting and sharing messages about individual's favorite TV shows. Rogue Paper is currently in negotiations with several networks regarding the deployment of its product in 2012. Rogue Paper won the AdAge award for best network second screen application with the MTV WatchWith in 2011. The Company also acquired "aNOTEfor," a social media site currently in development with a focus on improving socialization on the web.
- ECDC is currently streamlining its operations as the Company continues to execute its growth strategy. Stephanie Boyle will remain CEO of Rogue Paper, a role in which she has served since founding the company in early 2010. ECDC is also performing an executive search for a new CEO of its EarthSearch operations. This reorganization and restructuring of management will allow ECDC to operate more efficiently with a greater focus on its respective product offerings and increased revenue generation.
In 2011, the Company added senior managers to its subsidiary operations with a focus on increasing revenues throughout 2012 and beyond. Rob Bohorad joined the Company as Director of Business development for EarthSearch Communications and Cheryl Botchick was hired as Vice President of Client Services for Rogue Paper. ECDC has also retained KCSA, a public relations and investor relations management firm to guide and advise the Company in all aspects of marketing both ECDC and its products.
"ECDC reached several milestones in 2011 as the Company developed a solid structure through diversified businesses that helped drive growth," commented Kayode Aladesuyi, Chairman and CEO of East Coast Diversified Corporation. "We look forward to 2012 as we have laid the foundation for significant future revenue generation by adding experienced members to our management team and expanding the Company's distribution network for our products and services offerings."
About East Coast Diversified Corporation
EarthSearch Solutions and technologies are touching lives by changing the way businesses and governments operate or manage assets and security. East Coast Diversified Corporation (OTCBB: ECDC) connects owners and their asset in ways unimaginable just a few years ago. The Company challenges the imagination for desired solutions using GPS, RFID and other sensor technologies. The Company delivers solutions relevant to operations of businesses and governments. East Coast Diversified delivers innovative technology powered by alternative energy sources. The Company believes in and is contributing to the green evolution.
East Coast Diversified's technology provides continuous visibility of assets and cargo in transit, provides the visibility of thousands of kilometers of oil pipeline and other fixed assets, creates education resources for parents and teachers, provides efficiency in dispatching first responders in an emergency, and advances democracy though our ballot box monitoring technology. For more than half a decade now the Company has focused on and continues to innovate in the areas of RFID, GPS, and Sensor and Biometric technologies. East Coast Diversified's customers and partners globally are responding to the Company's innovation and is delivering practical solutions to solve their everyday business issues. For more information on East Coast Diversified Corporation, 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.
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