HIGH POINT, N.C., June 11, 2018 /PRNewswire/ -- Scientific Environmental Design, Inc. (SED) has oversubscribed the initial stock offering of $1,500,000 as of May 21, 2018. In addition to the sale of 750,000 shares of common voting stock at $2.00 per share, a $250,000 Green Shoe was oversubscribed too for an additional 125,000 shares.
The fresh money is primarily to fund the new investment in Revit-based code software under lock and key, which will allow the HVAC system designs to be professionally completed in a few days, versus the manual HVAC and duct design used during the last 39 years taking over three (3) weeks on average. Additionally, the non-recurring use of funds is for three (3) utility patents: SED TOTAL FLOW™ technology, RIGHT FLOW™, and a recently-applied-for patent that monitors air quality. The balance is for working capital.
About SED:
Scientific Environmental Design, Inc. (SED), High Point, North Carolina has been designing HVAC systems for over 42 years. For 39 years, the HVAC system designs served high-end homes in a few states using manual designed systems. The new SED company has invented software and developed several utility patents. The HVAC systems are now scalable to the USA.
William B. Millis, Harry Boody, and J. Phillips L. Johnston, J.D. are directors of SED. Doug Benefield was elected President last year. The newly opened offices are at 1312 Long Street, High Point, NC 27262. 866-330-5418 toll-free.
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SOURCE Scientific Environmental Design, Inc.