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3DX Industries Inc. Reduces Shares Underlying Convertible Loan Debt by Over 90%
3DX Industries Inc. Reduces Shares Underlying Convertible Loan Debt by Over 90%.
About this update from 3dx Industries Inc.
[{"type":"text","content":"\n \n \n 3DX Industries Inc. Reduces Shares Underlying Convertible Loan Debt by Over 90%\n \n \n3DX Industries Inc. Reduces Shares Underlying Convertible Loan Debt by Over 90%\n \n SEATTLE, WA--(Marketwired - Aug 29, 2017) - 3DX Industries Inc. (OTC PINK: DDDX) (the \"Company\" or \"3DX\") is pleased to announce management has renegotiated the terms of certain third party convertible loan agreements to further restrict shareholder dilution.\n Company President and CEO Roger Janssen has amended the convertible note agreements with two non-related 3rd party convertible debt holders. Based on the terms of the amendments the number of shares issuable on conversion have been reduced by over 90%. The total principal debt will be fixed effective April 30, 2017; accrued interest and penalties will be waived as of that date and the principal debt will no longer accumulate any interest or penalties. The debt holders are restricted to a maximum conversion of 10% of their outstanding debt per quarter. \n Mr. Janssen comments: \"These debt holders are 100% on board with what we are trying to accomplish with 3DX and agreeing to these tight restrictions on their debt conversion really shows their commitment to seeing our company succeed. Our goal is to be one of the most successful 3D Metal Printing companies in North America and having their support and the support of our shareholders goes a long way to achieving this. As I have stated in the past, management will not be entering into any type of toxic financing arrangements.\" \n The company is pleased to report it is now current in its filing obligations under the rules of the OTC Markets and will continue to work towards securing nontoxic financing arrangements and keeping focused on minimizing shareholder dilution as the company works towards future expansion.\n 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 composite printing as well as more traditional methods of precision manufacturing. 3DX offers additive and subtractive manufacturing options as well as product design, engineering and assembly services to its customers.\n Safe Harbor 3DX encourages those interested in our Co...