ALAMO, CA / ACCESSWIRE / March 16, 2021 / Social Detention Inc. (OTC PINK:SODE) is pleased to announce the acquisition of Danliv Inc. The stock purchase agreement was executed on 3/11/21 for 100% of Danliv Inc. stock in exchange for restricted equity shares in Social Detention Inc. We anticipate the deal closing in Q1 of this year.
Danliv Inc. is a licensed A General Engineering, B General Building, C-10 Electrical and C-20 Warm-Air Heating, Ventilating and Air-Conditioning contractor in the State of California. These are the required licenses to perform and provide the construction of EV, Hydrogen and Green Projects all from one source. On September 23, 2020, The Office of the Governor Gavin Newsome announced an executive order that directs state to require that, by 2035, all new cars and passenger trucks sold in California be zero-emission vehicles. (www.gov.ca.gov) With this order we anticipate a current and future tremendous need for our services to build the EV, Hydrogen and Green Infrastructure the State has mandated.
In addition to the State of California, the Federal Government has announced they intend to replace their enormous fleet of vehicles with clean electric vehicles (@ABCNewslive 1/25/21) and we intend to meet that need on a national level as well. Lastly, with this acquisition we have the necessary licenses and entity to meet the enormous infrastructure needs of the much discussed Infrastructure Bill when and if passed.
Robert P. Legg II, President/CEO of Social Detention Inc, announced the acquisition stating, "Danliv Inc. provides us the vehicle to obtain and perform EV, Hydrogen and Green Infrastructure Projects not only in California but on a national level as well. This marks and important step forward for Social Detention Inc. and opens up opportunities for growth and revenue recognition."
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company assumes no duty to update its forward-looking statements.
Contact Information:
Robert P. Legg II
blegg@sodetention.com
SOURCE: Social Detention Inc.
View source version on accesswire.com:
https://www.accesswire.com/635596/Social-Detention-Inc-SODE-Bolsters-EV-Hydrogen-and-Green-Infrastructure-Portfolio-with-Acquisition-of-Danliv-Inc
