Shares of 3DX Industries, Inc (OTCMKTS:DDDX) went up in the previous session after announcing an update on corporate developments.
On Thursday, DDDX stock surged 17% to $0.0498 with 77K shares, compared to its average volume of 193K shares. The stock moved within a range of $0.0425 – 0.0498 after opening trade at $0.0425.
About The Company
3DX Industries, Inc (OTCMKTS:DDDX) is an OTCM traded Advanced Manufacturing company capable of manufacturing a large number of products using subtractive and additive processes. The company’s growth strategy includes harnessing cutting-edge technology for enhancing manufacturing techniques combined with consolidating the manufacturing sector through targeted acquisitions. This can augment revenues as well as build a robust asset base.
3DX Industries Inc. Update on Corporate Developments
3DX Industries Inc on Jun 16, 2022, had its annual shareholders event earlier in the week for accentuating the progress made. The event also included a guided tour of its. 3DX manufacturing facility.
Company President Roger Janssen said that the event had more than 50 people in attendance. Janssen said that since it was a novel event for 3DX, it was delightful to see the response.
The President added that it was incredible meeting some existing shareholders as well as potential investors. They took some time to gain an understanding of 3DX and the progress made by the firm in the last year.
After post presentation, the attendees were taken to its manufacturing facility for a tour of the operations. Nicholas Coriano, VP of East Coast Operations for 3DX said that the company felt it was imperative to see the operations firsthand. Coriano added that there is nothing like witnessing parts crafted by you and validating the vision for 3DX.
The company is carrying on with the strategic growth plan through targeted acquisitions as well as a focused drive on augmenting cash flow through more revenue streams. It has commenced identifying potential bidding opportunities. Furthermore, it is establishing portals on important vendor sites and creating a targeted sales team. This will facilitate pushing the advanced manufacturing mandate to exist as well as new customers unfamiliar with the 3D printing capabilities.
3DX Industries also formed a sales force to target industrial sectors including EV, Renewables, Marine, and Medical amongst others.
The firm was pleased to announce the promotion of Mr. Adam Bierschenk to General Manager of Operations at 3DX. With an extensive background in CAD design and manufacturing of consumer and industrial parts, Bierschenk will manage operations at both Specialty Metal Works and the 3DX. This will streamline operations and develop strategies for increasing revenue.
“We had over 50 people in attendance and considering it was the first of its kind for 3DX, we were pleased with the turn out,” stated Company President Roger Janssen.
DDDX stock is trading below the 20-Day and 50-Day Moving averages of $0.0519 and $0.0521 respectively. Moreover, the stock is trading below 200-Day moving average of $0.1112.