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.
Editorial Contact
Glenn Davis
East Coast Diversified Corporation
+1 770-953-4184
866-503-9316
investorrelations@eastcoastdiversified.com
SOURCE East Coast Diversified Corporation