Social Detention Inc [OTCPK: SODE] gained 1150.00% at its last closing price of $0.6000. Against its 30-day volume of 2.03M, the SODE stock recorded a Volume of 36.84M. Social Detention stock values ranged from a low of $0.0056 to a high of $0.9200 during the last 52 weeks. An acquisition announcement sent the SODE stock price soaring.
What the acquisition deal is?
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The Social Detention works in the infrastructure business and has won contracts for itself and other parties for a long time. To succeed in the future, SODE intends to acquire some of these same organizations that it has helped win awards. SODE’s President, Robert Legg, who has been in the industry for decades, intends to leverage his long-standing connections to attract small businesses into the network that would enable Social Detention to be awarded multi-million dollar contracts as a sole source provider.
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Having won contracts from $1-$5 million for its partners, SODE intends to expand sales from within by way of acquisitions instead of relying on outside parties to secure multi-million dollar contracts.
Yesterday, Social Detention announced that it has purchased Danliv Inc. in an all-stock deal. An agreement to buy 100% Danliv Inc. stock for restricted equity shares in Social Detention was executed on 3/11/21. The deal is anticipated to close in Q1 of this year.
The Danliv Group Inc. is a licensed engineering, electrical, heating, ventilation, air conditioning, and building contractor in the State of California. It is required that these licenses are obtained before EV, Hydrogen, and Green Projects can be implemented by one source.
Earlier this year, the California Office of Governor Gavin Newsome issued directives that mandate all new cars and passenger trucks must be zero-emission by 2035. The state has mandated the development of EV, Hydrogen, and Green Infrastructure as part of a larger energy package, and with this order, we expect huge demand for our services in the years ahead.
California is not the only state planning to do this as the Federal Government is also in plans to replace its huge fleet with electric vehicles. Social Detention intends to shift towards EV on a national level as well. The infrastructure bill, if it is passed, will require SODE to acquire all the necessary licenses and entities, which it now possesses with the current acquisition.