East Coast Diversified Corporation (ECDC) stock leaps on current financial news and 2011 projections

Posted on: Thursday, April 21st, 2011
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East Coast Diversified Corporation (OTCBB: ECDC) gained 150% in price Thursday to two cents, after releasing a statement on current operations, and 2011 financial projections. The price’s 52-week high of nine cents was achieved last summer. Volume for the stock Thursday was 4.7 million shares.

The board and management of the Atlanta-based ECDC last year made the decision to change the business focus from simply offering GPS devices, and began the development of wireless communication between GPS and RFID devices.

ECDC officially launched its new business and product portfolio in the fourth quarter, which accounted for 60% of its 2010 revenues.

For 2011, the Company is projecting total revenues to be in the range of $1.2 to $2.5 million, which would mark a dramatic increase over 2010 operating results.

ECDC Chairman and Chief Executive Officer, Kayode Aladesuyi, commented, “2010 was definitely a transitional year for our operations as the Company moved from R&D to new product roll-outs beginning late in the fourth quarter. So far, for 2011, our financial picture and current operations, have improved greatly over last year’s performance, and we project this to only increase through the coming year.”

EarthSearch Communications, an ECDC Company, is a U.S.-based business whose flagship product, LogiBoxx, integrates GPS and RFID at the hardware level.

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Category: OTCBB, Penny Stocks, Technology Stocks
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