3DX Completes $2.0 Million Acquisition of Homescape LLC
Seattle WA, April 20, 2022 (GLOBE NEWSWIRE) -- via -- 3DX Industries Inc. (DDDX) (the “Company” or “3DX”), a manufacturing conglomerate, announced today it has completed the acquisition of Homescape LLC, a Connecticut based Limited Liability Company in a deal valued at $2,000,000.
Homescape LLC (“Home”) is a diversified holding company with its assets in real estate, ecommerce businesses and a microcap investment fund. A summary of these assets includes:
- Real Estate & Land Holdings: Ownership of Five (5) commercial rental units, Twenty Four (24) residential apartments and Thirty (30) land parcels located in New York, Nevada, New Mexico, Michigan and Arizona branded as Homeskape™.
- Ecommerce Businesses: A portfolio of ecommerce businesses selling products (in the numismatics market) and business planning and investor relations services (for SMBs) branded as Cervitude™.
- Microcap Investment Fund: A portfolio of micro cap stocks, primarily traded on the OTC Markets branded as The MicroCapCompany.com Fund™.
The real estate assets are valued at $1,600,000, the ecommerce businesses at $150,000 and the stock portfolio and cash at $250,000 for total of $2,000,000. The acquisition cost of Homescape LLC, includes the issuance of 7,000,000 shares of common stock equating to $350,000 and a 3-year note payable of $1,650,000. The note is payable in cash or common stock at the option of 3DX management. The share price will be determined using a 10% discount to the closing price of DDDX shares the day prior to the repayment day. The purchase of Homescape strengthens 3DX’s assets as it continues to move forward with its acquisition strategy.
In combination with the acquisition, Homescape LLC will return to the company 5,297,905 common shares of 3DX Industries (OTCM: DDDX) previously earned. These shares will be cancelled and returned to treasury.
"The acquisition of Homescape LLC brings on income producing real estate assets that increase our cash flow and assets held on the balance sheet,” states Roger Janssen, CEO of 3DX Industries. “It is right in line with our growth strategy along with the acquisition of the real estate and operating business of Specialty Metal Works, LLC.,” he added.
Under the terms of the Purchase Agreement, Homescape, LLC will become a wholly owned subsidiary of 3DX Industries, Inc. and begin reporting revenues under the company on May 1, 2021. Board Member of 3DX Industries, Inc., Mr. Nicholas Coriano will remain on as CEO of Homescape LLC.
“Since joining 3DX Industries, Inc. last year, Roger and I have worked well together to grow 3DX both organically and through various strategic acquisitions. I started Homescape LLC in 2006 and have put my life’s work into its growth and development. I am excited about merging this operational asset with 3DX Industries, Inc. and focusing 100% of my efforts to growing 3DX,” stated Nicholas Coriano. “Stabilizing revenues via real estate rentals, utilizing our ecommerce & social media portals to market and sell our manufactured products and partnering with the best companies and entrepreneurs will be my focus through the following integration phases,” added Mr. Coriano
About the Company: 3DX Industries, Inc. ($DDDX) is an OTCM traded conglomerate that is in the business of consolidating the manufacturing sector through acquisitions.
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
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