ALAMO, CA, Oct. 10, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Social Detention Inc. (SODE) is pleased to announce our legal counsel has completed and submitted our Amended Tier 1 Regulation A Offering for Qualification on October 4, 2018. Details of the offering are as follows:
- Aggregate Offering is $3,000,000.
- Shares Offered will not change our current Share Structure (no added shares to the Authorized amount).
- Proceeds will be used to increase bonding capacity to a potential of $30,000,000.
- Proceeds will be an Asset to the Balance Sheet without any debt/liability associated with them.
Mr. Robert P. Legg, President and CEO of Social Detention Inc. (SODE) was quoted as saying, “I am extremely pleased to announce that the company was able to identify and pay legal counsel to prepare this offering utilizing free cash from operations. The strategic key to our growth is the ability to obtain larger bonds to perform larger projects. With the influx of free capital we can bond projects ten times our net worth or roughly $30,000,000. It needs to be understood this does not limit us to $30,000,000 per year revenue. The bond line goes up and down as we complete work so if we did $30,000,000 a quarter that would be $120,000,000 per year. The proposal opportunities are in the tens of billions and we will only pursue high margin and fast track projects so we maximum our revenue and profit. Thank you for your support and we invite you to join us on this epic journey to becoming a billion dollar NASDAQ listed company.”
For more information about Social Detention Inc. visit www.sodetention.com.
FORWARD LOOKING STATEMENTS
Except 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.