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SODE Social Detention Inc. Announces Strategic Partnership Agreement with CA Government ContractorPress Release | 05/24/2018
ALAMO, CA, May 24, 2018 (GLOBE NEWSWIRE) -- Social Detention Inc. (SODE), recently announced that it has executed an agreement with DME Inc. to procure, perform and share profits on California Contracts. This partnership allows Social Detention Inc. to participate on proposals that are reserved for specific companies with certain classifications. The agreement is effective May 21, 2018.

The profit share is 50/50 and recognized as contract revenues are received. We anticipate the revenue for the next twelve months under this agreement to be $2-5m with a profit of $600k to $1.5m and $5m to $10m in Year 2 with a profit of $1.5m to $3m.

Robert Legg, President and CEO of Social Detention Inc., stated, “The execution of this agreement provides an additional stream of revenue that was not available to Social Detention Inc. We have already submitted several proposals under this agreement and expect to reap the rewards in the coming months. This agreement did not involve any cash or equity considerations so it will not affect profitability or authorized share structure. The combined entities offer an unmatched service offering in this space. Please note we are in negotiations to finalize similar agreements with other firms in the security and infrastructure space aggressively.”

For more information about Social Detention Inc. visit www.sodetention.com.

https://www.otcmarkets.com/stock/SODE/news/Social-Detention-Inc-SODE-Announces-Strategic-Partnership-Agreement-with-CA-Government-Contractor?id=193509