3DX Industries Reports 2021 Financial and Operating Results
3DX Industries, Inc. (DDDX) has released its Annual Report for the period ending October 31, 2021, highlighting significant growth. Total assets surged to $2.26 million from $253,000, while cash reserves rose to $680,000. Accounts receivables saw a remarkable increase of over 400% to $106,000. Revenues also grew to $410,000, up from $326,000 the previous year. The company aims to bolster its financial position further through acquisitions, despite an increase in total liabilities. An Investor Meeting is scheduled for June 8, 2022, to discuss the report and future guidance.
- Total assets increased to $2.26 million from $253,000.
- Cash balance rose to $680,000, improving current asset position.
- Accounts receivables surged over 400% to $106,000.
- Year-over-year revenue growth to $410,000 from $326,000.
- Total liabilities increased, indicating potential financial stress.
SEATTLE, Feb. 22, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – 3DX Industries, Inc. (DDDX) (the “Company” or “3DX”), a state of the art additive manufacturer specializing in 3D Metal Printing, announces it has filed it’s Annual Report on otcmarkets.com for the period ending October 31, 2021. The Annual Report showcases the company’s performance from November 1, 2020, to October 31, 2021.
The Annual Report identifies some of the company’s growth over the past year, including the following key highlights:
- Total Assets increased: The Company reported Total Assets of
$2.26 million , up from$253,000 t he year before. - Cash balance increased: The Company reported
$680,000 in cash at the end of the reporting period, up from the previous reporting period, increasing its current asset position. - Accounts receivables increased: The Company reported accounts receivables of
$106,000 , up over400% from the previous reporting year. - Revenues increased: Year over year revenues increased to
$410,000 , up from the previous year of$326,000
The Annual Report also shows the restricted common stock issued to attract the new team at 3DX Industries, Inc during the period. “We still have a lot of work to do, but we are headed in the right direction,” said Nicholas Coriano, Board Member at 3DX Industries, Inc. “We have the financial capital necessary to continue moving aggressively in 2022 and our acquisition strategy is moving along nicely.”
“While our total liabilities did increase, we are outpacing that increase with the acquisitions of assets,” stated Mr. Janssen. “Acquiring Specialty Metal Works, LLC and related real estate shored up our balance sheet and we expect our future acquisitions to do the same,” he added.
The Company is hosting its annual 3DX Investor Meeting in Ferndale Washington this June 8, 2022, where it will review the Annual Report and give investor guidance for the next reporting year. All shareholders are welcome to attend.
About the Company: 3DX Industries, Inc. is focused on the additive metal manufacturing segment within the manufacturing industry. 3DX has the capability of manufacturing a wide variety 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 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/news
3DX Industries, Inc. website can be found at www.3dxindustries.com.
Information included on the Company's website is not incorporated herein by reference or otherwise.
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