ALAMO, CA, Dec. 18, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Social Detention Inc. SODE, recently announced that its subsidiaries are the apparent low bidder on $1.1m of infrastructure and security proposals. These projects are for public agencies in California and we except potential awards in December 2018/January 2019. The projects consist of a county jail, public works building, multiple school locations and a public safety building.
The year of 2018 was a strong year for the Social Detention Inc. and our subsidiaries. We were awarded approximately $3m in contracts with a projected profit of over $800k. We made our projected margin on all projects and have earned several customers we can utilize for references on future work. Our pipeline of future work is abundant and margins are increasing. In addition, a few of the key driver’s for 2019 and beyond:
1. CA Senate Bill 1, $54 Billion for Infrastructure
2. BART Infrastructure Bill, $3 Billion
3. Proposed Federal Infrastructure Plan $1.5 Trillion
4. CA Fire Cleanup and Reconstruction $5 Billion Plus
In 2018 our main growth was through the Infrastructure and Security market. In 2019 we will utilize our earned financial resources to capitalize in other areas that fit our skill set such as:
- Security Structures, Perimeter Security and Infrastructure for cannabis grow operations and dispensaries. We have formed several partnerships that will be disclosed in early 2019.
- Blockchain and Cloud Construction applications for our large Public Customers. Our driving force is the hard side of construction and by partnering and developing soft side solutions for Public Customers we can reduce costs and save time on projects which ultimately drives our margins higher.
- Acquiring companies, with earned equity, that will drive our growth profitably. We are in negotiations, on a daily basis with several companies currently.
Lastly, the company has identified and compiled 50,000,000 common shares that we intend to retire upon receiving Board Approval. We look forward to sharing more details as we continue on our journey to become a billion dollar 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.
ROBERT P LEGG II