After a few days of steadiness, stock price of East Coast Diversified Corp. (OTC:ECDC) grabbed the climb. The up move 
started on Monday, and yesterday the stock soared another 72.41% while trading over 125 million shares on the market.
What is more interesting here is the fact that no particular reason for the massive trade could be found. It was until today when ECDC was featured on the watchlists of a couple of promotional websites. These pointed out that the stock has gained 116% since breaking above a resistance level at $0.003. Today, ECDC pulled in a bit to close at $0.005 and now it’s interesting if the stock will bounce to the $0.006 area.
Apart from the promotional emails, no recent news on ECDC can be found. The last announcement by the company was issued on March 8, when they reported the execution of Master Distributor agreement with Asonics Live Interlink Kenya for $350,000 in equipment and services purchased each year under the three year licensing agreement. Unfortunately, despite the positive announcement, ECDC stock price fell down at that time.
Today the up move continues and everyone is curious if any fresh news is coming soon.[BANNER]
East Coast Diversified Corp. offers a portfolio of GPS devices, RFID interrogators, integrated GPS/RFID technologies and Tag designs. In end-March, the company filed a notification of late filing in connection with its 10-K report, thus its current financial condition remains unknown.
Though, the company’s latest report available showed that ECDC kept losing money, had very limited assets and a negative working capital. At the same time, the company relies on an Equity Credit Agreement that involves numerous risk factors related to the continuation of East Coast and the investment in its common stock.
