IDNG changing name to RedHawk Holdings Corp.
The Company believes the new name will better reflect the future direction of the business. The Company also said its
health care business unit will operate as a fully-owned subsidiary of RedHawk under the name Independence Health Corp., LLC.
A/S: 450 Million - per state of Nevada active status Recent news
O/S: 360,094,082 Million - as of 7/2/15
Insiders Own 60%+ = Over 200 Million Shares
The company authorized up to 5,000 shares of preferred stock with a par value of $1,000.00 per share
IDNG HAS ZERO CONVERTIBLE DEBT
INDEPENDENCE CONTINUES RESTRUCTURING
INDEPENDENCE CONTINUES RESTRUCTURING THROUGH JUNE 30, 2015 TRANSITION PERIOD
Youngsville, Louisiana (OTC: IDNG) – Independence Energy Corp. (“Independence”) announced today a net loss of $105,614, or $0.00 per diluted share, for the five month period ended June 30, 2015. The results for the five month period included a $28,860 non-cash charge related to the amortization of certain intangible assets acquired in March 2014. For the comparable five month period ended June 30, 2014, Independence reported a net loss from continuing operations of $142,370 and a net loss of $290,553, or $0.00 per diluted share.
**The Company said that on or about August 24, 2015, it expects to file with the Secretary of State for the State of Nevada the shareholder approved Amended and Restated Articles of Incorporation that, among other things, officially changes its name to RedHawk Holdings Corp. (“RedHawk”). The Company said that it will initiate trading under the symbol “HAWC” once it has completed the filing of the Amended and Restated Articles of Incorporation.
Commenting on the transition period results, Daniel J. Schreiber, Independence’s Chief Executive Officer, said, “During the five month transition period ended June 30, 2015, we continued to focus on reducing operating expenses, reviewing prior business activities, completing the disposition of our oil and gas properties, preparing for the recapitalization of our balance sheet and re-directing the future business activities of RedHawk.”
“Independence is in advanced talks to complete the acquisition targets previously announced” Schreiber continued. “These acquisition targets are focused on expanding the RedHawk Land & Hospitality LLC business unit through the acquisition of commercial property located in Lafayette, Louisiana and an ownership interest in the iconic Naniloa Hilo Resort located in Hilo, Hawaii. The Company hopes to complete the purchase of the Lafayette property during the quarter ended September 30, 2015, and the Hilo interest during the quarter ended December 31, 2015. Because some of these targeted acquisitions under consideration may impact future operations of our health care business unit, we have deferred, at this time, the decision to internally expand our marketing distribution network for the sale of our digital non-contact thermometers.”
Completion of the acquisitions are contingent upon, among other things, satisfactory completion of due diligence, the negotiation and execution of definitive purchase agreements, completion of satisfactory appraisals, and the approval of the transactions by disinterested members of Independence’s Board of Directors.
Redhawk Land & Hospitality to Acquire Investment in Hawaiian Resort
YOUNGSVILLE, LA / ACCESSWIRE / August 4, 2015 /
Independence Energy Corp. (IDNG)
announced today that its wholly-owned real estate subsidiary, RedHawk Land & Hospitality, LLC, ("RedHawk") is in advanced discussions to acquire a 5.59% membership interest and a 7.79% net profits interest, in the iconic Naniloa Hilo Resort located in Hilo, Hawaii. Additionally, it is contemplated that as part of this transaction, RedHawk will acquire from Avior Capital LLC ("Avior") the right to purchase, an additional 18.28% membership interest and a 9.14% net profits interest in the venture.
RedHawk said it would acquire the membership interests and the right to purchase from the Schreiber Living Trust (the "Trust"), Beechwood Properties, LLC ("Beechwood") and Avior. The Trust and Beechwood collectively own 51.24% of the Independence Energy Corp.'s outstanding common stock. Mr. Dan Schreiber, Independence Energy Corp.'s Chief Executive Officer and Chairman, has voting control over the assets of the Trust and Avior, while Mr. G. Darcy Klug, Independence Energy Corp.'s Chief Financial Officer and Secretary, owns and controls Beechwood. Following this proposed transaction, all of Avior's, the Trust's and Beechwood's interests in this project will be held by RedHawk.
In December 2013, the Trust and Beechwood participated with WHR LLC in the $7 million acquisition of the historic Naniloa Hilo Resort. Recently, all necessary governmental approvals have been secured and satisfactory financing arranged to commence a $20 million restoration of the 388 room hotel. Restoration is expected to be completed in early 2016.
When completed, the resort will be re-branded as The Hilo Doubletree by Hilton and Golf Resort at the Naniloa in Hilo, Hawaii, and will be managed by Aqua Hospitality, Inc. Independent third party appraisers commissioned by the bank providing the restoration financing have estimated that the hotel will be worth $71,500,000 after restoration is complete and $102,000,000 after a three-year stabilization period under the Hilton flag.
A definitive purchase agreement for the membership interest, the net profits interests and the assignment of the right to purchase is anticipated to be completed and executed by RedHawk, Avior, the Trust and Beechwood within ninety (90) days of this announcement. Closing of the transaction is expected to be completed in the second quarter of Independence Energy Corp.'s fiscal year ending June 30, 2016. The transaction is contingent upon, among other things, approval by the Independence Energy Corp. board of directors, the negotiation and acceptance of a mutually agreed upon purchase price, execution of a definitive purchase agreement, consent of the other project investors to the assignment of the membership and net profits interests by the Trust and Beechwood to RedHawk, the transfer of the Avior right to purchase, satisfactory completion of legal due diligence, and the closing of acceptable financing or additional equity capital, if necessary.
Independence to Change Name to Redhawk Holdings Corp.; Will Change to June 30 Year End
YOUNGSVILLE, LA / ACCESSWIRE / May 28, 2015 / Independence Energy Corp. (IDNG)("Independence" or "Company") announced today that its board of directors has authorized the Company to initiate the process of seeking shareholder approval to change the corporate entity name to RedHawk Holdings Corp. ("RedHawk"). When the process is complete, the Company intends to make application for a new "CUSIP" number and a new trading symbol.
The Company believes the new name will better reflect the future direction of the business. The Company also said its health care business unit will operate as a fully-owned subsidiary of RedHawk under the name Independence Health Corp., LLC.
In addition to the name change, the Company's board of directors has approved a change in the Company's year end from January 31 to June 30. The company believes the change in year end will better reflect the operating cycles of its investment portfolio. In connection with the change in year end, the Company will report a transition period for the five (5) months beginning February 1, 2015 and ending June 30, 2015.
Redhawk Land & Hospitality to Acquire Commercial Real Estate
YOUNGSVILLE, LA / ACCESSWIRE / June 29, 2015 / (IDNG) -
Independence Energy Corp. ("Independence" or "the Company") announced today that RedHawk Land & Hospitality, LLC, a wholly-owned subsidiary of the Company, has tentatively agreed to acquire from Beechwood Properties, LLC ("Beechwood"), certain commercial real estate currently under long-term lease to the State of Louisiana. Beechwood owns 35.39% of the Company's outstanding common stock, and is owned and controlled by G. Darcy Klug, the Company's Chief Financial Officer.
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The property to be acquired was built in the early 1930's and is located in the historic district of Lafayette, Louisiana. The property was acquired by Beechwood in 2008 and following a renovation and restoration completed in 2010, has been under a long-term lease agreement with the 3rd Circuit Court of Appeals for the State of Louisiana.
A definitive purchase agreement for the property is anticipated to be completed and executed by the Company and Beechwood within sixty (60) days of this announcement, and the closing of the transaction is expected to be completed by the end of the first quarter of the Company's fiscal year ending June 30, 2016. The transaction is contingent upon board approval, the negotiation and acceptance of a mutually agreed upon purchase price and execution of a definitive purchase agreement, assignment of the existing lease agreement to the Company, satisfactory completion of legal due diligence and appraisals, and the closing of acceptable debt financing.
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