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**UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549**___________________**FORM 10-QSB**___________________

 

**ý                                QUARTERLY REPORT PURSUANTTO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

 

**For thequarterly period ended January 31, 2005**

 

**OR**

 

**o                                TRANSITION REPORTPURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

 

**For thetransition period from               to              **

 

**Commission file number 0-50356**

 

**EAST COASTDIVERSIFIED CORPORATION**(Exact Name Of RegistrantAs Specified In Its Charter)

 

| **Nevada**
            
**55-0840109**

(State of Incorporation)
            
(I.R.S. Employer Identification No.)

 
                           
**2090 Oaktree Road, Suite 15,    Edison, NJ**
            
**08820**

(Address of Principal Executive Offices)
            
(ZIP Code

 Registrant'sTelephone Number, Including Area Code: (732) 635-0444

Indicate by checkmark whether the registrant (1) has filed all reports required to be filed by Section 13or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or forsuch shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90days.  Yes  [X]  No [  ]At January 31, 2005, the Registrant had 2,636,162 shares of common stock, par value $0.001outstanding.

**TABLE OF CONTENTS**
Item    Description    Page
**PART I - FINANCIAL INFORMATION**
  
ITEM 1.
            
FINANCIAL STATEMENTS.
        3  
ITEM 2.
            
MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION.
        3   
ITEM 3.
            
CONTROLS AND    PROCEDURES.
        3     
**PART II - OTHER INFORMATION**
  
ITEM 1.
            
LEGAL PROCEEDINGS.
        4  
ITEM 2.
            
CHANGES IN    SECURITIES.
        4   
ITEM 3.
            
DEFAULT    UPON SENIOR SECURITIES.
        4   
ITEM 4.
            
SUBMISSION OF MATERS TO A VOTE OF SECURITY HOLDERS.
        4   
ITEM 5.
            
OTHER    INFORMATION.
        5   ITEM 6.EXHIBITS AND REPORTS ON FORM 8-K.****
**PART I - FINANCIAL INFORMATION**

**ITEM1. FINANCIAL STATEMENTS**Backto Table of Contents

The Registrant's financial statements for the three andnine-month periods ended January 31, 2005 and 2004 are attached to this quarterly report.

Financial Statements

**ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION**Back to Table of Contents

The following discussion containsforward-looking statements. Forward-looking statements give our current expectations orforecasts of future events. You can identify these statements by the fact that they do notrelate strictly to historical or current facts. They use of words such as"anticipate," "estimate," "expect," "project,""intend," "plan," "believe," and other words and terms ofsimilar meaning in connection with any discussion of future operating or financialperformance. From time to time, we also may provide forward-looking statements in othermaterials we release to the public.

OverviewOur current activities are related to seeking a new business opportunity or businesscombination. We will use our limited personnel and financial resources in connection withsuch activities. It may be expected that entering into a new business opportunity orbusiness combination will involve the issuance of restricted shares of common stock. AtJanuary 31, 2004, we have no cash or other liquid assets.

Results of Operations for theThree and Nine-Months Periods Ended January 31, 2005 and 2004

During the threeand nine-month period ended January 31, 2005 and 2004, the Company had no revenues. TheCompany incurred operating expenses of $58,568 during the nine-month period ended January31, 2005 compared to operating expenses of $64,623 during the same period in the prioryear. The Company's operating expenses consist mainly of compensation expenses, accountingand other professional fees. Our net loss for the nine months ended January 31, 2005 was$59,628 compared to a net loss of $66,782 during the same period in the prior year. 

Liquidity andCapital Resources

Asof January 31, 2005, the Company had total liabilities of $152,441 compared to totalliabilities of $79,346 at January 31, 2004. The increase in liabilities was mainly due toan increase in accounts and accrued expenses payable consisting of accrued compensationand a note payable to a shareholder. Our accumulated deficit at January 31, 2005 and 2004 was $2,135,102 and$2,062,007, respectively.

During the periodended January 31, 2005, we were dependent upon interim funding by a shareholder to pay ouroperating and administrative expenses. We have no written finance agreement with suchshareholder to continue to advance funding to pay these expenses.

Aspart of our intent to seek new business opportunities and/or effecting a businesscombination, we may determine to seek to raise funds from the sale of equity securities orother securities.We have no agreements to issue any equity securities or other securitiesand cannot predict whether equity or other sources of financing will become available atterms acceptable to us, if at all.

We anticipate that in connection withthe commencement of a new business opportunity or consummation of a business combination,we will issue a substantial number of additional restricted shares or other securities. Ifsuch additional securities are issued, our shareholders will experience a dilution intheir ownership interest in the Company. If a substantial number of shares are issued inconnection with a business combination, a change in control may be expected to occur.

Thereare no limitations in our articles of incorporation or bylaws on our ability to borrowfunds or raise funds through the issuance of restricted common stock to effect a businesscombination. Our limited resources and lack of operating history may make it difficult todo borrow funds or raise capital. Our inability to borrow funds or raise funds through theissuance of restricted common stock required to effect or facilitate a businesscombination may have a material adverse effect on our financial condition and futureprospects, including the ability to complete a business combination. To the extent thatdebt financing ultimately proves to be available, any borrowing will subject us to variousrisks traditionally associated with indebtedness, including the risks of interest ratefluctuations and insufficiency of cash flow to pay principal and interest, including debtof an acquired business.

**ITEM 3.CONTROLS AND PROCEDURES**Back toTable of Contents
*Evaluation of disclosure controls and procedures.As of January 31, 2005, the Company's chief executiveofficer and chief financial officer conducted an evaluation regarding the effectiveness ofthe Company's disclosure controls and procedures (as defined in Rules 13a-15(e) or15d-15(e) under the  Exchange Act. Based upon the evaluation of these controls andprocedures, our chief executive officer and chief financial officer concluded that ourdisclosure controls and procedures were effective as of the end of the period covered bythis report.

*Changes in internal controls*. During the quarterly period covered by this report, no changesoccurred in our internal control over financial reporting that materially affected, or isreasonably likely to materially affect, our internal control over financial reporting.

 

**PART II - OTHER INFORMATION**

**ITEM 1. LEGALPROCEEDINGS**Back to Table ofContents

The Registrant's officers and directorsare not aware of any threatened or pending litigation to which the Registrant is a partyor which any of its property is the subject and which would have any material, adverseeffect on the Registrant.

**ITEM 2.CHANGES IN SECURITIES**Back toTable of Contents

None.

**ITEM 3. DEFAULTS UPON SENIORSECURITIES**Back to Table ofContents

None.

**ITEM4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**Back to Table of Contents

None.

**ITEM5. OTHER INFORMATION**Backto Table of Contents

None.

**ITEM 6. EXHIBITS AND REPORTS ONFORM 8-K**Back to Table ofContents

(a) The following documents are filed as exhibits tothis report on Form 10-QSB or incorporated by reference herein. Any document incorporatedby reference is identified by a parenthetical reference to the SEC filing that includedsuch document.

Exhibit    No.Description31.1Certification of Chief    Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Exchange Act pursuant to    Section 302 of the Sarbanes-Oxley Act of 2002.31.2Certification of Chief    Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Exchange Act pursuant to    Section 302 of the Sarbanes-Oxley Act of 2002.32.1Certification of Chief    Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of    the Sarbanes-Oxley Act of 2002.32.2Certification of Chief    Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of    the Sarbanes-Oxley Act of 2002.
(b) Reports on Form 8-K during the quarter covered by this report:

The Registrant did not filed a Form 8-K during the quarter ended January31, 2005.****

**SIGNATURES**

Pursuant to therequirements of the Securities Exchange Act of 1934, this report has been signed below bythe following persons on behalf of the registrant and in the capacities and on the dateindicated.

/s/ Richard Margulies    Richard Margulies*   Chief Executive Officer      Dated: May 5, 2005*
        
/s/ Frank Rovito    Frank Rovito       *Chief Financial Officer**   Dated: May 5, 2005*
    
**FinancialStatements**Back to Table of Contents
Accountants' Review Report 7Financial Statements   Balance sheets8   Statements of loss and accumulated    deficit9   Statements    of cash flows10Summary    of significant accounting policies11Notes to the    financial statements11 **EAST COAST DIVERSIFIED CORPORATIONAccountants' Review ReportBackto Table of Contents

To the Board of DirectorsEast Coast Diversified CorporationNew York, New York

We have reviewed the accompanying balance sheets of EastCoast Diversified Corporation as of January 31, 2005 and 2004, and the related statementsof loss and accumulated deficit, cash flows, and changes in stockholders’ deficit forthe three months then ended. All information included in these financial statements is therepresentation of the management of East Coast Diversified Corporation. These consolidatedfinancial statements are prepared in accordance with the instructions for Form 10-QSB, asissued by the U. S. Securities and Exchange Commission, and are the sole responsibility ofthe Company’s management.

A review consists of inquiries of Company personnel andanalytical procedures applied to financial data. It is substantially less in scope than anaudit in accordance with generally accepted auditing standards, the objective of which isthe expression of an opinion regarding the financial statements taken as a whole.Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any materialmodifications that should be made to the accompanying financial statements in order forthem to be in conformity with generally accepted accounting principles.

As discussed in Note 4 to the financial statements, onNovember 20, 2001 the Company discontinued its operations, and has been inoperative sincethat time.

Kahn Boyd Levychin,

Certified Public Accountants

March 5, 2005

**East Coast Diversified Corporation**
Balance Sheets
January 31, 2005 and 2004 (Unaudited)
Back to Table of Contents   2005
2004
LIABILITIES AND STOCKHOLDERS' EQUITY  Current    liabilities:Accounts    and accrued expenses payable
$132,402
$61,742Notes    payable, shareholder (Note 1)12,95011,140Payroll    taxes payable7,0896,464     Total current liabilities152,44179,346       **Total liabilities**152,44179,346 Stockholders'    deficit:      Preferred stock ($.001 par value; 1,000,000 authorized, none outstanding)--      Common stock ($.001 par value; 74,000,000 shares authorized;         2,636,161 shares issued and outstanding2,6362,636      Additional paid-in capital1,980,025
1,980,025      Accumulated deficit(2,135,102)(2,062,007)        Total stockholders' deficit(152,441)
(79,346)       **Total liabilities and stockholders'    equity**$-
$
-  The auditors'    report, the summary of significant accounting policies, and the accompanying notes to the    financial statements.**EAST    COAST DIVERSIFIED CORPORATION**Statements of Loss and Accumulated    Deficit (Unaudited)For    the Three and Nine Months Ended Janaury 31, 2005 and 2004Back to Table of Contents ThreeThreeNineNineMonths endedMonths endedMonths endedMonths endedJanuary 31, 2005January 31, 2004January 31, 2005January 31, 2004Revenues$-
$-$-
$-Operating expenses   Officers'    compensation16,50016,50049,50049,500   Professional fees450-8,88014,873   Miscellaneous    expenses63125188250**Total operating expenses**17,01316,62558,56864,623**Loss    from operations**(17,013)(16,625)(58,568)(64,623)  **Other expenses**   Interest expense3642621,0602,159**Total other expenses**3642621,0602,159  **Net loss**$(17,377)
$
(16,887)$(59,628)
$
(66,782)Accumulated deficit, beginning(2,117,725)(2,045,120)(2,075,474)(1,995,225)**Accumulated deficit,    ending**(2,135,102)(2,062,007)$(2,135,102)$(2,062,007)  Loss per weighted average share of    common stock outstanding$(0.01)
$(0.02)$(0.02)$(0.03)Weighted average    number of shares of common stock outstanding2,636,162
2,636,1622,636,162
2,449,640 The    auditors' report, the summary of significant accounting policies, and the accompanying    notes to the financial statements.**EAST COAST DIVERSIFIED CORPORATION**Statements of Cash    Flows (Unaudited)For the Nine Months Ended January 31, 2005 and 2004
Back to Table    of Contents
2005
2004**Cash flows from operating activities:**      Net loss$(59,628)$(66,782)      Changes in operating assets and liabilities:        Increase in accounts and accrued expenses payable57,75355,392        Increase in payroll taxes payable375250**Net cash used in operating activities**
(1,500)
(11,140)  **Cash flows from financing activities:**      Proceeds from shareholder's note payable1,50011,140      Conversion of shareholders' loan to common stock-(132,000)      Conversion to common stock of shareholders' loan-132,000**Net cash provided by financing activities**
1,500
11,140      **Increase in cash and cash equivalents**Cash and    cash equivalents, beginning of period
-
-**Cash and cash equivalents, end of period**
$
-
$
-  **Supplemental disclosure of cash flow information:**      Cash paid during the period for:        Income taxes$-$-        Interest expense
$
-
$
-  See auditors' report, the summary of significant accounting policies, and the    accompanying notes to the financial statements.
**East Coast Diversified Corporation**Summary of Significant AccountingPoliciesJanaury 31, 2005Backto Table of Contents

*Organization*

East Coast Diversified Corporation (the"Company") was organized on May 24, 1994, under the laws of the State of Floridaunder the name Plantastic Corp and changed its name to Viva Golf, USA Corp in April 1997.The Company acquired 100% of the issued and outstanding shares of common stock ofLifekeepers International, Inc. in exchange for 1,000,000 of its newly issued shares underan Agreement and Plan of Reorganization on October 22, 1998. In connection with thisacquisition, the Company changed its name to Lifekeepers International, Inc.

The Company previously held an exclusivelicensing agreement to market and distribute golf clubs and related accessories in thecontinental United States. After the reorganization, the Company changed its business planto providing mobile non-intrusive medical testing such as ultra-sound screening and bloodanalysis diagnostic testing.

During the year 2001, the Companydiscontinued its operations, and has been inoperative since that time. On May 29, 2003,the Company changed its name to East Coast Diversified Corporation.
*Cash and cash equivalents*
The Company considers certificates of deposit and otherhighly liquid investments purchased with maturities of ninety days or less to be cashequivalents.
*Estimates

The preparation of financialstatements in conformity with generally accepted accounting principles requires managementto make estimates and assumptions that affect the reported amounts of assets andliabilities and disclosures of contingent assets and liabilities at the date of thefinancial statements and the reported amounts of revenues and expenses during the reportedperiod. Actual results may differ from these estimates.
*Common stock issued for services*
Common stock issued for services have been recordedusing the fair market value of the services rendered. The value of these shares is chargedto expense.
*Discontinued operations*
On November 20, 2001 the Company discontinued itsoperations and has been inoperative since that time.

**East Coast Diversified Corporation**Notes to Financial Statements Back to Table of Contents

*NOTE 1 - NOTES PAYABLE, SHAREHOLDER*

Notes payable, shareholders are as follows:
20052004Note payable to a shareholder which accrues interest at 10%    per annum and is due April 30, 2004. The note is convertible into shares of common stock    of the Company at the conversion price equal to the closing bid price of the shares on the    date of conversion, but not less than the par value of $.001.$12,950$11,140$12,950$11,140*NOTE 2 – RELATED PARTY TRANSACTIONS*
Three officers were compensated $16,500 during each period. The Companymaintains its offices in office space maintained by its officers.
*NOTE 4 – DISCONTINUED OPERATIONS

On November 20, 2001 the Company discontinued its operations, and,except for the payment of professional fees and officers’ compensation, has beeninoperative since that time.***** |
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