Seattle WA, November 16, 2022 – 3DX Industries Inc. (OTCM: DDDX) (“3DX” or the “Company”), an additive manufacturing company provides an update to shareholders on the direction of the company over its next fiscal year.
Management has undertaken a comprehensive review of its key performance indicators over the past twelve months focusing on improving cash flow and shareholder value as we embark on a new fiscal year. The goals set for the company are to expand its influence in the additive manufacturing space focusing on increasing cash flow within its 3D print division, a redistribution of its subtractive services and increasing its exposure within the Government contracts division.
Roger Janssen, 3DX President & CEO states “Our goal as we move into a new fiscal year is to direct more of our resources into the additive division of 3DX Industries. Indicators in the market and from our customer base validates that now is the time to make the push to increasing our capacity in this area. This shift will result in an expansion of our current additive manufacturing footprint along with a reorganization of our subtractive division, which will target higher volume orders to complement our CNC operations along with supporting our additive division through postproduction requirements.”
Nicholas Coriano, 3DX VP of Development states “Our fiscal yearend review has highlighted the moves needed to stay on top of the metal printing segment within the additive manufacturing industry. With a redistribution of efforts from the subtractive to additive divisions and a targeted push into higher volume production orders, we are expecting to see a significant improvement in our cash flow over the coming year.”
As part of its yearly review of operations 3DX management has made additional corporate shifts in direction. Driven by factors which include meetings with senior level personnel in the manufacturing industry, discussions with our government contract leads and current economic factors related to land and property valuations, management has decided not to pursue the closing of the Homescape LLC acquisition as previously announced. Along with this, the Board of Directors have elected to terminate its agreement with Specialty Metal Works.
“There is significant opportunity for impactful growth within the metal printing sector in the immediate future and we need to be positioned to take advantage of that. We will be allocating our efforts and resources in this direction to take advantage of opportunities to significantly increase our cash flow” states Mr. Janssen
Mr. Coriano adds, “These decisions were made in the best interests of the company and its shareholders and will result in a reduction to our outstanding shares by over 1.7 million and release the company of $2.5 million in financial obligations. We will also benefit from a reduction in our overhead and other direct operating costs. Our resources and funds can now be directed to the expansion of current operations which will include the implementation of advanced manufacturing techniques such as Industry 4.0.”
Management is confident the objectives set for the coming year will result in increased shareholder value and improved cash flow. Over the coming months the company will be focused on expanding its current print lab including the acquisition of additional equipment necessary to continue to provide a turnkey service to its clients.
About the Company: 3DX Industries, Inc. ($DDDX) is an OTCM traded Additive Manufacturing company capable of producing a wide range of products using additive and subtractive manufacturing processes. Our growth strategy includes utilizing cutting edge technology to enhance manufacturing techniques. 3DX has the capability of manufacturing a wide range of products using its 3D metal printing system, 3D plastic printing as well as more traditional methods of precision manufacturing. 3DX offers additive and traditional manufacturing services, rapid prototyping as well as product design, engineering, and assembly services to its customers.
Safe Harbor 3DX encourages those interested in our Company to rely only on information included in our filings. Statements released by 3DX Industries, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
For additional information please contact:
3DX Industries, Inc.
6920 Salashan Parkway Suite D-101
Ferndale WA 98248
Telephone: 360-366-8858
Email: info@3dxindustries.com
For company news visit OTC Markets at https://www.otcmarkets.com/stock/DDDX/news3DX Industries, Inc. web site can be found at www.3dxindustries.com.Information included on the Company's website is not incorporated herein by reference or otherwise.