DUBAI, UAE, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Blackwell 3D Construction Corp. (OTC: BDCC) ("Blackwell 3D” or the "Company"), an innovative 3D house printing technology company focused on advancing the construction industry though the use of environmentally friendly 3D printing to build homes in less time and at lesser cost than traditional homes, is pleased to provide this update aimed at ensuring transparency, strengthening corporate governance, and driving long-term growth.
The Company is committed to enhancing value for its shareholders through the following key initiatives:
1) Completion of Audited Financial Statements for the Fiscal Year Ended May 31, 2024
Blackwell 3D is on track to complete an audit of its May 31, 2024, annual financial statements by mid-September. This critical step will ensure the accuracy and integrity of our financial reporting, reinforcing the trust of our shareholders and the broader investment community.
2) Becoming a Fully Reporting Company under Section 12
As part of our commitment to full transparency and regulatory compliance, Blackwell 3D is actively working toward becoming a fully reporting entity with the Securities & Exchange Commission (SEC). This status will further enhance our corporate governance practices, provide our investors with enhanced disclosure, and subject us to a more rigorous review of all of our financial statements. Upon completion of our audit for the Year Ended May 31, 2024, we anticipate filing a Form 10 with the SEC, which will provide a detailed overview of our operations and subject us to the reporting requirements of Section 12 of the Exchange Act of 1943, as amended.
3) Strategic Discussions with Asian Real Estate Development Company
In our pursuit of growth and expansion, Blackwell 3D has held in person discussions in Dubai with a prominent Asian real estate development company. These discussions, thus far, have focused on exploring opportunities for strategic collaborations and partnerships that could drive significant value for both companies. We are optimistic about the potential to open new avenues for growth in the rapidly expanding Asian market. As of yet, we have not entered into any definitive agreement and talks remain ongoing.
"The last year has proven both exciting and turbulent, but we believe that we have now turned a corner which will allow us to focus on growing our business, while becoming a reporting issuer with the SEC. We are focusing on both external strategic initiatives and internal compliance initiatives that will simultaneously strengthen us and allow us to move the business forward," stated Mohammedsaif Zaveri, CEO of Blackwell 3D. "Our commitment to transparency, regulatory compliance, and growth is unwavering. We believe these actions will not only strengthen our position in the market, but also create long-term value for our shareholders."
For further information about Blackwell 3D, please visit www.blackwell3d.com for the most up to date news.
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 (www.sec.gov) along with additional disclosure made available with the OTC Markets Group Inc. (www.otcmarkets.com). 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.
