ALAMO, CA. , July 10, 2018 (GLOBE NEWSWIRE) -- The Board of Directors of Social Detention Inc. (OTCPK:SODE), a security and infrastructure firm, reported today it has signed a Memorandum of Understanding with TADRC Inc., a Northern California premier public works service provider specializing in educational, transportation, security and correctional projects. It is anticipated a definitive purchase agreement will be completed within 30-45 days.
According to Social Detention Inc., President and CEO, Robert P. Legg II, “The acquisition of TADRC Inc. will mark a significant milestone for our company in bringing in a seasoned management team, project backlog, field teams/equipment and licensing. We anticipate this acquisition adding $3-5M to our revenue/backlog in 2018 beginning in this quarter. The terms of the deal is 100% equity based on revenue levels and profit margin TADRC Inc. must meet or exceed. With the addition of TADRC Inc. resources and Social Detention’s Inc. current backlog we are well on our way to reaching our 2018 revenue goals. We anticipate additional acquisition announcement’s in Quarter 2 of 2018.”
For more information about Social Detention Inc. visit www.sodetention.com.
FORWARD LOOKING STATEMENTSExcept for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements if new information becomes available in the future.
Contact: Social Detention Inc. Robert P. Legg II firstname.lastname@example.org 925-575-4433
Disclosure: I am/we are long SODE.
Additional disclosure: 1. Identify, obtain and complete profitable projects for the government in the security and infrastructure space. Our market is projected to be over $2 Trillion Dollars in the coming years. The revenue is available and we just need to execute. Currently, for each $1 Million we deploy into our projects we return $1.3 Million. Our customers are the government so our payments are secure and guaranteed.
2. Retire stock that is currently authorized but is restricted. Of the 183,753,333 shares authorized 159,387,992 is restricted per our Transfer Agent as of 4/26/18. As of today we could retire approximately 97,000,000 shares and are actively pursuing the balance of the restricted stock to add to that amount.
3. In addition to up listing to OTCQB, our board has agreed to up list to the highest level OTCQX as a priority.
4. We are in deep negotiations (executed NDA’s, due diligence complete and offer made) on several acquisitions and joint ventures to strengthen our company offerings. The mission will always be to use our equity to capitalize on these opportunities to keep our debt low and cash position strong.
5. We are running at a 200% per quarter revenue growth with profitability. I continue to see our profit margin increased and until we reach the 20 Million Dollar Revenue/Backlog I see no reason for this not to continue.
In the future, I will provide updates on a regular basis. The mission ahead of us to become a billion-dollar company will require hard work and many long days but we are being presented with funding into the security and infrastructure space that will give us the fuel to get there.