$SODE BREAKING NEWS!
Social Detention Inc. (SODE) Acquires Social Media Correctional Website Company www.socialdetention.com to Create Marketplace
ALAMO, CA , March 26, 2018 (GLOBE NEWSWIRE) --
Social Detention Inc. (OTC PINK: SODE) recently announced it has acquired 100 percent of the company www.socialdetention.com and will launch a marketplace to compliment the social media forum.
www.socialdetention.com is a social media website for members of the corrections industry. The corrections industry is a $200 Billion Dollar per year industry according to the Bureau of Justice.
www.socialdetention.com allows decision makers, vendors, suppliers, and facilities to interact. Terms of the deal were not disclosed but Social Detention Inc. did not use stock or create any debt with acquiring www.socialdetention.com and does not expect it to have a negative impact on cash flow or earnings.
Robert P. Legg II, President of SODE, was quoted as saying, “We are very pleased to acquire www.socialdetention.com. The website is a fantastic fit to our corrections and security industry business unit. The platform will allow us a home for a marketplace to sell our goods and services with a built in customer base. I expect the revenue and growth for www.socialdetention.com to increase dramatically becoming part of Social Detention Inc. as we put our resources and team behind it.”
Social Detention Inc. expects to aggressively continue due diligence on current purchase targets and search for other companies to acquire in the infrastructure, security and marijuana industry. Several opportunities are currently being reviewed.
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. https://finance.yahoo.com/news/social-detention-inc-sode-acquires-123000398.html