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EarthSearch (OTC:ECDC) Set to
Challenge Foursquare
By:
staff reporter, John Bodger
Last Updated: November
08, 2011 - 10:25pm EST
(NEW YORK) --(NEW
YORK) --EarthSearch Communications, traded under the name East
Coast Diversified Corporation (OTC:ECDC),
may be positioning itself to develop a product to
compete directly with location based social networking giant
foursquare.
EarthSearch's
recent acquisition of application developer Rogue Paper may
now position the company one step closer to developing
its own location-based GPS enabled mobile networking
application. Together with EarthSearch's GPS expertise, and
Rogue Paper's mobile development capabilities, both
companies may be set to develop their own location based
mobile application in direct competition to the the
popular social networking giant Foursquare.
On June 24, 2011 Foursquare raised $50 million, giving the
company a $600 million valuation.
EarthSearch, which trades with just under 200 million shares
issued and outstanding, would have a comparable price of
$3.00 per share if based on foursquares valuation. Obviously
EarthSearch has a ways to go before it can be in direct
competition with the popular Foursquare network. With
their acquisition of Rogue Paper and their connection to
popular social networking sites, such as Twitter, ECDC seems
to be positioning itself for rapid growth in the
location-based and social networking sector.
At a modest 10% of the value of Foursquare, which would be
roughly $60 million, EarthSearch would have a valuation
price of $0.30 per share based on their current shares
outstanding. This fact hasn't been lost on traders as volume
in ECDC has been building over the past several weeks as
investors look to get in on the possible upside from the
partnership of EarthSearch, Rogue Paper, and its esteemed
board of advisors.
ECDC closed Tuesday at a price of $0.006 per share on the
Over the Counter market.
Ludlow Equity Research is a New York based equity research firm
focused on providing our clients, and individual readers, with in-depth
research coverage and opinions on the small-cap securities market.
For over 14 years we have aimed to providing our subscribers a
simple way of evaluating the current and potential value of
small-cap stocks, and any risks that may effect those valuations
going forward. Our goal is to provide traders with an easy way to
make investment decisions based on current and future valuations.
Ludlow Equity Research is a division of Ludlow Capital, Inc. www.ludlowresearch.com
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Wall Street Newscast
Email: info@wallstreetnewscast.com
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Safe
Harbor Statements:
This
research report includes statements that may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Although the Company believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those projected.
Disclaimer:
This is NOT a solicitation to Buy or Sell any security, but rather
is for informational purposes only. Content contained herein
includes facts, views, opinions and recommendations of individuals
and organizations deemed of interest. Wall Street Newscast ("WSNC")
does not guarantee the accuracy, completeness or timeliness of, or
otherwise endorse these views, opinions or recommendations, or
give investment advice. WSNC, its affiliates, or directors, may or
may not hold a position in the above security from time to time,
and investors are encourage to consider this as a possible
conflict of interest when reviewing this information. In
Compliance with SEC Rule 17B Wall Street Newscast was compensated four
hundred thousand restricted shares by ECDC for ongoing media
coverage. WSNC may hold positions
in above securities from time to time, and
thus should be considered a possible conflict of interest when
reviewing this report and information. These investments may
involve a high degree of risk, thus investors are highly
encouraged to consult with a financial advisor before any and all
investments.
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