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3DX Industries Inc. (OTC:DDDX), a Ferndale, Washington-based provider of 3D metal and plastic printing services, is embarking on an ambitious strategy to expand the depth and scope of its operations while seeking to raise its stock to the Nasdaq exchange within two years.
What Happened: On Friday, the company announced it would begin accepting Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) as payment for its manufacturing services via Coinbase (NASDAQ:COIN). Nicholas Coriano, vice president of East Coast operations, viewed cryptocurrency as being able to “solve some of the problems that come with financing manufacturing needs with local currencies across the globe. Cryptocurrency and manufacturing worlds have excellent synergy.”
On Monday, the company announced that it was forming a real estate division and would identify revenue producing opportunities in industrial real estate. Last month, the company announced the completion of its acquisition of Specialty Metal Works, LLC in Blaine, Washington, and the opening of an East Coast office at Connecticut’s University of Bridgeport Bauer Hall Innovation Center.
Nicholas Coriano
Why It Happened: In an interview with Benzinga, Coriano said the company is planning to expand into multiple industries in the coming months.
“It's going to be three divisions,” he said. “There will be a manufacturing division where we continue to acquire machine shops and 3D printers and such, and then we'll have a real estate division in other industries. And then we'll have a product division that will derive out of the manufacturing businesses where we can go to e-commerce or directly to retailers with the products.”
Coriano predicted that in five years 3DX will transition into a holding company that covers multiple endeavors, adding that a strategy of acquisitions and significant investments in growing companies will help grow 3DX company further.
However, he noted that any business acquisition would need to include a real estate component, rather than acquire a company that is paying rent for its premises.
“We'll probably buy our real estate where we're going to house ourselves in,” he said.
Prior to joining 3DX, Coriano was a real estate investor whose commercial properties are within his Hômescape LLC holding company. He confirmed that he is in discussion with the 3DX leadership on potentially bringing the Hômescape properties into the planned real estate division, adding a decision would come later in November.
What Happens Next: Looking forward into 2022, Coriano predicted 3DX “will acquire some more land bigger parcels of land to get involved in some special projects, whether it's 3D printing construction or developing more industrial properties to start the world's largest 3D printing park.”
Coriano is also setting a goal of moving 3DX’s trading platform in a step-by-step ascension to the OTCQB, followed by the OTCQX or other major stock exchanges, including the Nasdaq.
“In the first half of next year, we'll be getting our paperwork straight and we're going to make some more acquisitions,” he said. “And then by June, we'll be at OTCQB, which gets us fully audited fully reporting. And then June to December, we’ll retain the appropriate securities counsel, accounting firms and investor relations agents and professionals to get us to the NASDAQ in 2023.”
Photos: Cover photo courtesy of 3DX Industries; Nicholas Coriano photo by Phil Hall.
