East Coast Diversified Corporation (OTCBB: ECDC) gained 51.5% in price Monday to five cents, after its subsidiary, EarthSearch Communications, Inc., announced that it has delivered on purchase orders from its Tanzania partner for additional oil tanker monitoring solution. Volume for the stock Monday was 3.2 million shares, trampling over a daily average of less than 140,000.
According to East Coast CEO Kayode Aladesuyi, “The purchase order more than any, validates that the solution is making a difference to… customers’ business operation and that we are delivering desired application to our partners and customers.”
EarthSearch Communications, an ECDC Company, is a U.S.-based business whose flagship product, LogiBoxx, integrates GPS and RFID at the hardware level. The parent company is headquartered in Atlanta.