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Ludlow Research Issues OTC:ECDC
.10 to .15 Price Target
By: staff reporter, John
Bodger
Last Updated: October 31, 2011 - 11:25am
EST
(NEW YORK) --(NEW
YORK) --EarthSearch
Communication, traded under the name East Coast
Diversified Corporation (OTC:ECDC),
announced in an 8K filing this morning that it has completed its merger with California based
mobile app developer Rogue Paper, and was issued a $0.10
to $0.15 price target on the stock.
8K
Completion of Merger
In an 8K
filing posted this morning, the Company announced
effective October 23, 2011, East Coast Diversified Corporation
entered into a Share Exchange Agreement with Rogue Paper,
Inc..
Pursuant to the Agreement, the Company has acquire fifty-one percent (51%) of the issued and outstanding shares of common stock of Rogue Paper
in exchange for two million five hundred thousand (2,500,000) Series A convertible preferred
stock. No sooner than twelve months from the Effective Date, the Preferred Shares shall be convertible, at the option of the holder of such shares, into an aggregate of fifty million shares of the Company’s common stock, par value $0.001 per share.
In addition, beginning sixth months from the Effective Date, both the Company and holders of the Preferred Shares shall have the option to redeem any portion of such holders Preferred Shares, for cash, at a price of
$0.60 per share. Commencing twenty-four (24) months from the Effective Date, the holders of the remaining, unsold shares of Rogue Paper common stock may require the Company to redeem such shares, for cash, at a price of three cents
$0.03 per share.
ECDC last traded at a price of $0.012 per share on higher
then normal volume.
The Next Foursquare for Twitter
Ludlow Equity Research, a small cap equity research firm based in New
York, issued a note in their premium newsletter (subscribe)
that the completion of the merger between Rogue Paper (RP) and
Earthsearch could now position the Company to be the next Foursquare
in the mobile social networking sector. The acquisition of RP
now gives Earthsearch the ability to develop high-grade mobile
applications, and leverage off their flagship TV Tune-In app,
which is currently being used by such clients as MTV and VH1.
The app gives viewers of TV shows on those networks the
ability to not only watch the shows on their mobile devices,
but to interact with other fans and users in real-time during
these shows.
.10 to .15 Price Target Issued
One of the key elements pointed out in Ludlow's research note
was the connection Earthsearch now has with high tech giant
Twitter, and how their core GPS and RFID business could
position the company to develop a product that could rival
location based app Foursquare.
Rough Paper has put together an impressive board of advisors,
including Dick Costolo, the CEO of Twitter as one of those key
advisors. Now that Earthsearch owns RP these advisors may now
be available to assist in developing Earthsearch GPS and
social networking mobile projects, and that is major.
SchoolsConnects App
With a professional mobile developer now under the umbrella of
ECDC, the prospects for the development and successful launch
of their SchoolsConnects student monitoring system looks much
more promising. www.schoolsconnects.com
If you combine Earthsearch's GPS's technology, along with
Rogue Paper's mobile development ability, and furnish this
with possible backing or integration with Twitter's advisory
connection, you could very well see the birth of a major
mobile development company.
The question the market is asking now is, "what would the
value of a high tech mobile GPS company, with a social
networking angle, and possible advisory backing from Twitter
be worth in the public market?"
If you look at some other
well known social networking stocks, such as LinkedIn, or
Groupon's pending IPO, you can see the market can value some
of these deals into the billions of dollars. Giving the
merger between Earthsearch and Rogue Paper, and their
possible backing by social networking giant such as Twitter,
it wouldn't be unjustifiable to target a conservative $20
to $30 million market cap valuation for a project such as
this. With around 200 million shares issued and outstanding in
ECDC, that would come out to around a $0.10 to $0.15
price target, conservatively.
About Rogue Paper
Based in California's 'Silicon
Valley', Rogue Paper is a developer of TV Tune-In Application.
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. The apps aim to attract fans
around live viewing of their favorite show, event, or sports
team. Users can actively comment, Tweet and like their favorite
shows, chat with friends, play trivia games, watch exclusive
video content, photos and more. www.tvtunein.com
www.roguepaper.com
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
* Note: to receive alerts on stocks like these enter
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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
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