Replies to post #36810 on East Coast Diversified Corp (fka ECDC)

[Spuds McKenz66]

someone posted info on Iron ridge quite interesting their track record stinks and so does ECDC Kays a greedy pig and a monkey

[chicagodog]

This information was provided by Kay in a sworn filing to the S.E.C. on 2/14/2012:

On April 20, 2012, IV and the issuer settled $1,079,990.98 in accounts payable of the issuer owned by IV, in exchange for unregistered shares of common stock of the issuer. Pursuant to an order approving stipulation for settlement of claims between IV and the issuer, IV is entitled to receive that number of common shares with an aggregate value equal to the sum of $1,108,344.86, divided by 65% of the following: the volume weighted average price of the issuer’s common stock over that number of consecutive trading days following the date of receipt required for the aggregate trading volume to exceed $5 million, not to exceed the arithmetic average of the individual daily volume weighted average prices of any five trading days during such period.



IV is prohibited from receiving any shares of common stock that would cause it to be deemed to beneficially own more than 9.99% of the issuer’s total outstanding shares at any one time. IV received an initial issuance of 49,700,000 shares, and may be required to return or be entitled to receive shares, based on the calculation summarized in the prior paragraph. For purposes of calculating the percent of class, the reporting persons have assumed that there were a total of 447,974,560 shares of common stock outstanding immediately prior to the issuance of shares to IV, such that 49,700,000 shares issued to IV would represent approximately 9.99% of the outstanding common stock after such issuance.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8555836

Note that an additional 50+Million shares have also been issued at 35% discount to Ironridge. Good deal, 378K profit.

[flaflyersfan]

elleryqueen, ECDC gave Ironridge 100,000,000 free-trading shares at a 35% discount to market and may have received another tranche of 50,000,000 - 60,000,000 shares by now with a gagged T/A shareholders will not know about until the next 10-Q in late August.

Monkeys?

The only people that think Ironridge is no big deal or is good for ECDC shareholders simply do not understand it or think it is a Resrticted Stock deal because that is the only part ECDC mentioned in the PR. There is nothing good about the Ironridge deal as it alone could crush the company. All of the other debt ECDC remains unpaid and accumulating interest and penalties. Adding insult; ECDC borrowed $16,000 and $32,500 promising stock at a 45% and 55% discount to market which approaches .0009 with further PPS erosion.

This stock is not about those investors that already love the company. As long as ECDC can get new buyers with Press Releases alone, ECDC has a chance to go up with extreme volume required. If anyone reads the 10-K, 10-Q and PRE 14 first, there is no way they buy ECDC stock.

Good luck.

[Defkon]

You do know that this is PR release by ECDC right? And doesn't include all the true information regarding the deal? These PR can have anything written on it and have a disclaimer at the end saying the accuracy or truth of it is not to be regarded as true. Get your facts together bro