3DX Industries Inc (OTCMKTS:DDDX) shares were up 50% to $0.0900 and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.20. The company has a market cap of $3.68 million at 37.46 million shares outstanding.
3DX Industries Inc is a precision manufacturing company that manufactures consumer and corporate products using a manufacturing method through three-dimensional (3D) metal printing technology and conventional precision manufacturing processes. It also offers various manufacturing options, as well as product design, engineering and assembly services to its customers. The company has an array of computer numerical control precision machining centers. Using its composite printing system, the company offers its clients an option on prototype parts and components for designer review and engineer evaluation prior to final production runs.
Earlier this week, 3DX Industries Inc announced that it is pursuing actions to expand on the company’s current bidding and processing of government projects. The company s currently authorized to quote on projects offered by the Defense Logistics Agency including the following divisions: DLA Aviation, DLA Land and Maritime, DLA Troop Support and DLA Energy. The Trump administration has mentioned plans to reinforce the military and strengthen defense spending, which serve as a call for 3DX to increase its attention in this area and pursue government contract businesses.
Our ability to meet the qualifications required to bid on the numerous Government projects that are offered gives us extreme flexibility in how we process and schedule our current work load,” states Roger Janssen, President and CEO of 3DX Industries Inc. “The opportunity to review, quote and process Government projects will add to our revenue stream as we continue to identify opportunities to increase cash flow.”
A few days ago, the company shared an update to shareholders, marking a step in the right direction for its strategic initiatives to increase transparency and communication to the investment community.
“From inception, our 3D printing had consisted of mainly prototype and new concept parts and components. The past year has brought about some significant advancements in applications of our 3D metal printing technology and, as a result, we had to move our timeline for implementation of production level protocols up considerably, which we are confident will provide considerable ROI,” CEO Roger Janssen stated.
The company has targeted its focus on the 3D metals printing division, streamlining its processes and procedures to further expand production level 3D metal printing orders. According to the International Data Corporation Worldwide Semi-Annual 3D Printing Spending Guide, the rapid expansion of the industry is expected to continue and that global revenues for the 3D printing market will explode to a massive $35.4 billion by the year 2020. In 2016, revenues expected to reach $15.9 billion so the market is expected to double over the next five years.
It is exciting to see how quickly this additive manufacturing technology is accepted amongst our clients and their eagerness to use 3D Printing as a means of satisfying their production level requirements. The technology is now a solution for more than just prototypes and new concept projects; it can produce parts and components at a cost and quantity to satisfy production level orders,” Janssen added.
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