ATLANTA, May 26, 2011 /PRNewswire/ -- East Coast
Diversified Corporation (OTC.BB: ECDC), through its subsidiary
EarthSearch Communications, Inc., announced that it has signed a
Letter of Intent with Chinese GPS service company ZST Digital
Networks (NasdaqGM: ZSTN) to offer its LogiBoxx integrated GPS and
RFID solution in the Greater China
market.
In the agreement executed at ZSTN headquarters on May 25th, the LOI will allow ZSTN exclusive
distribution rights to EarthSearch technology. ZSTN will be able to
offer services with wireless communication between GPS and RFID
interrogators. The technology offers various industry applications
including oil tanker and oil pipeline monitoring in addition to
real time item level tracking and real-time visibility of numerous
logistic operations. Both Companies agree to a six months
development period for implementation and training of ZSTN staff
before launching operations. EarthSearch engineers will also assist
in the development of a new General User Interface (GUI) to fit the
local Chinese market as well as training on understanding how the
hardware is implemented for different applications.
As part of the agreement, ZSTN will commit to minimum quarterly
purchases that should meet an annual delivery of $5ml US dollars
worth of products and services from EarthSearch.
"We are very pleased with our discussions with ZSTN and the
direction of the relationship. We are not ready for either a merger
or acquisition at this time as we feel our company has yet to reach
its full potential valuation, so this agreement gives us what we
feel is appropriate at the moment. Access to the fastest growing
market in the world and with a partner that has the necessary
contact within the government, in a market where having those
contacts is critical to success or failure," said ECDC Chairman and
CEO, Kayode Aladesuyi,
"I had the opportunity to meet with some Chinese officials in
the Henan Province, introduced to
us by ZSTN executives. I had the opportunity to describe our
technology, how it works and how it can change the way they manage
services, operation and staff. The reaction and comments were quite
encouraging for our relationship with ZSTN. We expect ZSTN will
begin the process of expanding its distribution network beyond the
Henan Province," Mr. Aladesuyi
further stated.
EarthSearch's CEO continues his visits to other Southeast Asian
countries visiting Malaysia and
Singapore in an effort to continue
expansion of its product and technology sale into the region.
For partners, system analysts, or supply chain managers wishing
to see how Logiboxx may assist you in optimizing your supply chain
management, or critical infrastructure monitoring, please
email us for a brochure at businesssolutions@earthsearch.us
About EarthSearch Communications
EarthSearch Communications, an ECDC Company (OTC.BB: ECDC), 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 East Coast Diversified, visit
www.eastcoastdiversified.com or EarthSearch at:
www.earthsearch.us
About ZST Digital Networks, Inc.
ZST Digital Networks, Inc. (Nasdaq:ZSTN) is a China-based company, principally engaged in
(1) supplying digital and optical network equipment and providing
installation services to cable system operators in China and (2) providing GPS location and
tracking services to local logistics and transportation companies
in China. The Company has
developed a line of IPTV devices that are used to provide bundled
cable television, Internet and telephone services to residential
and commercial customers. The Company has assisted in the
installation and construction of over 400 local cable networks in
more than 90 municipal districts, counties, townships, and
enterprises. The Company has also launched a commercial line of
vehicle tracking devices utilizing our GPS tracking technologies
and support services for transport-related enterprises to track,
monitor and optimize their businesses. For more information
about ZST Digital Networks, Inc., please visit
www.zstdigital.com/english.
"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.
Editorial Contacts
Glenn Davis
EarthSearch Communications, an ECDC Company
+1 770-953-4184
+866-503-9316
investorrelations@earthsearch.us
SOURCE East Coast Diversified Corporation