(MENAFN- GlobeNewsWire - Nasdaq) DUBAI, UAE, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Blackwell 3D construction Corp. (OTC: BDCC) ("Blackwell 3D” or the "Company"), an innovative 3D house printing technology company, is pleased to announce that its previously disclosed plans to file a Form 10 Registration Statement with the Securities & Exchange Commission (SEC) are expected to come to fruition within the week. This significant step marks Blackwell 3D's commitment to enhancing transparency, increasing shareholder confidence, and preparing for anticipated growth as a publicly traded company.
The filing of Form 10 initiates the formal registration process, enabling BDCC to become a fully reporting entity under SEC regulations. With this anticipated filing, Blackwell 3D is taking a crucial step toward broadening access to institutional investors and the heightened level of transparency associated with fully reporting status is anticipated to build stronger investor trust and create new opportunities for strategic partnerships.
“The Form 10 filing is a transformative step for Blackwell 3D Construction,” said Mohammedsaif Zaveri, CEO of Blackwell 3D.“By increasing our transparency and aligning with SEC reporting standards, we're laying the foundation for sustainable growth and preparing to attract a wider base of investors and partners who share our vision for innovative, efficient, and sustainable construction.”
In addition to the Form 10 filing, BDCC is pleased to announce the cancellation of 25 million shares of its common stock, effective today. This reduction in outstanding shares reflects BDCC's commitment to improving shareholder value, with immediate potential benefits including an optimized capital structure. By consolidating our share structure, BDCC aims to deliver stronger returns for existing shareholders, reduce dilution risk, and enhance the attractiveness of the stock for long-term investors.
“The decision to cancel 25 million shares demonstrates our commitment to maximizing shareholder value,” added Zaveri.“By reducing the number of outstanding shares, we're able to reward our existing shareholders and create a stronger, more sustainable capital structure that positions us well for long-term growth.”
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About Blackwell 3D Corporation
Blackwell 3D Construction Corp. is focused on developing state-of-the-art 3D technologies for use in the construction industry. Our goal is to be able to use our technology to design 3D printed residential structures and that meet our clients' specific requirements and preferences. In addition, it is our objective to use a large-scale printer and a specialized concrete mixture to print the structural components of these residential structures. Our printing process is expected to be highly automated, allowing us to create intricate designs and details with precision.
Important Notice Regarding Forward-Looking Statements
This Press Release contains certain“forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended. Statements that are not historical facts, including statements about the Company's review of potential financing and strategic alternatives, the Company's research and development efforts, the Company's prospects for 2024, and the Company's ability to fine tune its operations, are forward-looking statements. The words“expect,”“believe,”“estimate,”“intend,”“plan” and similar expressions indicate forward-looking statements, although not all forward-looking statements contain these or similar identifying words.
These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated. Such risks and uncertainties include, but are not limited to: Blackwell 3D's ability to continue as a going concern; Blackwell 3D's ability raise additional capital to fund its business on acceptable terms or at all; Blackwell 3D's ability to negotiate and consummate a financing or other strategic transaction; changes in the competitive industries in which the Company operates and variations in operating performance across competitors; changes in laws and regulations affecting Blackwell 3D's business; the risk of downturns in the market and Blackwell 3D's industry; risks related to the uncertainty of the projected financial information with respect to Blackwell 3D; risks related to Blackwell 3D's limited operating history and history of losses; the timing of expected business milestones; Blackwell 3D's ability to implement its business plan and scale its business; Blackwell 3D's ability to formulate, implement and modify as necessary effective sales, marketing, and strategic initiatives to drive revenue growth; Blackwell 3D's ability to expand internationally; the viability of Blackwell 3D's intellectual property and intellectual property created in the future; government regulations and Blackwell 3D's ability to obtain applicable regulatory approvals and comply with government regulations; and the outcome of any legal proceedings that may be instituted against the Company. A further list and description of risks and uncertainties can be found in the most recent filings with the Securities & Exchange Commission ( ) along with additional disclosure made available with the OTC Markets Group Inc. ( ). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
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