SODE’s
core market and public works construction is robust with opportunity. According
to the United States Census Bureau Report Issued September 1, 2020,
Construction spending during July 2020 was estimated at a seasonally adjusted
annual rate of $1,364.6 billion, 0.1 percent (±1.2 percent)* above the revised
June estimate of $1,362.8 billion. The July figure is 0.1 percent (±1.6
percent)* below the July 2019 estimate of $1,366.0 billion. During the first
seven months of this year, construction spending amounted to $792.6 billion,
4.0 percent (±1.2 percent) above the $761.9 billion for the same period in
2019. We have the people and the model in place to capitalize on this large
market opportunity.
In addition to growing internally, we at SODE
have been in deep negotiations with several companies in our space to acquire,
partially acquire or joint venture. These companies can add significant value
by eliminating a level of markup or providing us a new specialty to our arsenal.
In addition, we have formed entities to add additional building classifications
to our service offering and will update when these valuable tools are in place.
Lastly, I hope you and your family are safe in these times. Never underestimate
the appreciation we have for all our investors as we continue on this
incredible journey of building a highly profitable and long-lasting company.
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