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EarthSearch (OTC:ECDC) Set to Challenge Foursquare

http://www.google.com/finance?q=OTC:ECDC

EarthSearch (OTC:ECDC) Set to Challenge Foursquare
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.