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Why on earth? Company did a massive dilutive offering and they are selling because there is no floor and they will sell to .000000000001 to recover their money. Thank your brilliant CFO for the deals he did. What don't u understand ? This dog headed lower
DISASTER = TOXIC= DILUTION. .0031. heavy sellers lining up
Good luck with 1 time low margin PPE sales- long term. Every day it get smore competitive and the margins get squeezed. Let's hope for cannabis- lol. Boys and Girls see massive trouble ahead - This company has zero Working capital oh wait more toxic debt coming - Ema and Auctus wake up. or maybe more Interest Free loans. they were fun and exciting
The Capital Stack is so so wrong- Our boys and girls are so troubled . Toxic debt will swallow this company- there is no way out . 3 million must be converted = MUST BE CONVERTED = Gates are up and sellers will stampede through them= Q4 will be very rough on the stock coupled with tax loss selling . .000000000001. company deserves it after how they diluted sweet Investors like MNKD . horrific decisions = lower prices. just read the 10k. warning signs all over it . Wait till Pinsky and Klug convert their paper. After Klug unethically and illegal goes back and forth between common and preferreds it could be 4 billion shares when they are all done= the stock reflects their games.
This mgmt disaster team has diluted close to 900 mill shares . Don't tell us no more is coming . 2 billion more shares are coming and coming fast. Who do think has been hammering the market the last few days? The company has - their stupid decisions . Ema and Auctus took Klug out to the woodshed . He is all bruised up and more bruises coming.
During the year ended June 30, 2020, we issued $1,078,862 of convertible notes to third parties with variable conversion rates (“2019 Variable Rate Convertible Notes”). The 2019 Variable Rate Convertible Notes mature at various dates between September 2020 and June 2021. We received approximately, net of financing costs incurred, $960,000 in cash from the issuance of these notes. These 2019 Variable Rate Convertible Notes have interest accruing at rates ranging between 10% - 12%. These notes issued to third parties have a variable conversion rate based on the price of the Company’s common stock. None of the 2019 Variable Rate Convertible Notes have been converted into shares of common stock.
wake up. gates are opening and the stock is about to be pounded and you are going to lose your money- u were warned - paying debt back with cash lol lol lol. lol
never has happened and never will here - keep paying debt with new more expensive debt. 12% accrues now. next week 18%
3,000,000 Debt will be converted to shares - 2 billion shares are on the way . whether u like it not
Boys and girls believe 3,000,000 of debt will be hitting the market - at ( .002) it will be 1.5 billion shares . 1.5 billion shares coming whether you like it or not . That's not including Pinsky and all the other toxic garbage the company has. .0000000001
oh Sweet Teddy - be patience butterfly - u r going to get all of them and lower. billions of shares just waiting to be converted ad Teddy - you will have first crack at all of them. NO money for Inventory = No money for WC = this goose is cooked . billions of shares coming and we are waiting to see Pinsky . Tbc
Warning Warning Warning During the year ended June 30, 2020, we issued $1,078,862 of convertible notes to third parties with variable conversion rates (“2019 Variable Rate Convertible Notes”). The 2019 Variable Rate Convertible Notes mature at various dates between September 2020 and June 2021. We received approximately, net of financing costs incurred, $960,000 in cash from the issuance of these notes. These 2019 Variable Rate Convertible Notes have interest accruing at rates ranging between 10% - 12%. These notes issued to third parties have a variable conversion rate based on the price of the Company’s common stock. None of the 2019 Variable Rate Convertible Notes have been converted into shares of common stock.
Jail time for giving away 113 mill of Warrants - Who approved this heist? On June 20, 2019, Company entered into a Stock Exchange Agreement (“Exchange Agreement”) with Beechwood. G. Darcy Klug, the Company’s Chairman of the Board and Chief Financial Officer, is the sole member and manager of Beechwood. Under the Exchange Agreement, the Company purchased from Beechwood 113,700,000 shares of the Company’s common stock, $0.001 par value per share (“Common Stock”), in exchange for 1,277 shares of the Company’s 5% Series A Preferred Stock (“Series A Preferred Stock”) and a Stock Purchase Warrant (“Warrant”) to acquire 113,508,450 shares of Company common stock at an exercise price of $0.005 per share. The Warrant expires on June 20, 2029. Concurrent with the execution of the Exchange Agreement, holders of $574,250 aggregate principal amount of the convertible promissory notes, including accrued interest, converted their convertible promissory notes into 114,849,929 shares of Common Stock.
During the fiscal year ended June 30, 2019, certain stockholders of the Company made $110,000 in interest free advances to the Company.
In August 2019, the Company’s board of directors approved the sale of $1.25 million in aggregate principal amount of convertible notes (the “2019 Notes”) in a private offering. As of June 30, 2020, $842,000 in principal amount of the 2019 Notes have been sold. The Company used the net proceeds of the offering of the 2019 Notes, after payment of related fees and expenses, to retire then existing debt and to provide working capital. At closing, the Company has issued to the 2019 Note purchasers a number of warrants exercisable ten years from the date of issuance for the purchase of an aggregate of 21,050,000 shares of the Company’s common stock (the “Warrant Shares”) at an exercise price of $0.01 per Warrant Share.
Subsequent to June 30, 2020, effective October 6, 2020, the Company agreed to purchase from Beechwood 124,849,365 shares of the Company’s common stock in exchange for 1,000 shares of the Company’s 5% Series B Preferred Stock (“Series B Preferred Stock”) stated value of $1,248.49 per share. The Company determined that the acquisition of the shares of common stock from Beechwood, and having them available for potential future issuance, better positions the Company to execute on its business plan for growth opportunities. This stock purchase is expected to be completed during the quarter ending December 31, 2020.
Subsequent to June 30, 2020, effective November 4, 2020, the Company agreed to purchase from Beechwood 122,730,903 shares of the Company’s common stock in exchange for 1,473 shares of the Company’s 5% Series A Preferred Stock, stated value of $1,133.81 per share. The Company determined the acquisition of the shares of common stock from Beechwood, and having them available for potential future issuance, better positions the Company to execute on its business plan for growth opportunities. This stock purchase is expected to be completed during the quarter ending December 31, 2020.
Working Capital
June 30,
2020 2019
Current Assets $ 617,692 $ 405,685
Current Liabilities $ 2,152,153 $ 1,474,348
Working Capital (Deficit) $ (1,534,461 ) $ (1,068,663 )
Disclose the details- stop hiding Recent Sales of Unregistered Securities
In addition to offers and sales of unregistered securities previously disclosed in reports filed by the Company with the SEC, during the fiscal year ended June 30, 2020, we sold the following securities in transactions that were not registered under the Securities Act of 1933, as amended (the “Securities Act”):
? 10,000,000 shares of our common stock were issued to an accredited investor in exchange for consulting services totaling $100,000, net;
? 3,676,470 shares of our common stock were sold to an accredited investor in connection with the exercise of warrants issued in June 2017, and resulting in total cash consideration of $12,500 to the Company upon exercise of the warrants; and
? 750,000 shares of our common stock were exchanged with accredited investor in connection with the cancellation of 350,000 warrants issued in September 2019.
Worthless - Write down to ZERO Specialized Security System Manufacturing and Distribution
Centri Controlled Entry System. On April 11, 2016, the Company acquired the exclusive United States manufacturing and distribution rights for the Centri Controlled Entry System (“Centri”), a nominal dose transmission x-ray full body scanner that is designed to be capable of finding weapons, drugs and other metallic and non-metallic contraband concealed on and within the human body. The Company acquired these exclusive rights from Basic Technologies, Inc. who holds the exclusive worldwide license to manufacture and sell Centri. In June 2016, the Company received approval from the FDA for the importation, assembly and demonstrations of Centri. Phase I radiation testing was successfully completed. Approval for human testing and the sale of Centri units was received from the Louisiana Department of Environmental Quality during the quarter ending September 30, 2016.
The Company is continuing to test the safe operation of Centri and is currently working with the Louisiana State University Innovation Park to develop our marketing strategy to offer Centri for sale and/or lease as an alternative security system in various commercial applications.
Worthless. Should be written down to ZERO Branded Generic Pharmaceuticals
Under the terms of the EcoGen Agreement, Scarlett and its affiliate agreed to surrender to the Company 10 million shares of RedHawk’s then outstanding common stock, transfer to RedHawk Pharma approximately $300,000 of EcoGen’s preferred stock plus, other consideration in exchange for RedHawk Pharma assuming approximately $370,000 of obligations due to EcoGen.
A generic drug is a pharmaceutical drug that is substantially equivalent to a brand name product in dosage, strength, route of administration, quality, performance and intended use. Although they may not be associated with a particular company, generic drugs are subject to government regulations in the countries where they are dispensed. A generic drug must contain the same active ingredients as the original brand name formulation. In most cases, generic drugs become available after the patent afforded to a drug’s original developer expires. Once generic drugs enter the market, competition often leads to substantially lower prices for both the brand name drug and its generic equivalents. Clinicians in the United Kingdom are encouraged to write prescriptions for patent protected drugs by their generic name in preparation for such drugs losing their patent protected status, with the prescribed drug being dispensed to the patient by a community pharmacy. Pharmacists are obligated by law to dispense the brand that is written, should the clinician not use the generic name when prescribing a particular treatment, with all drugs being dispensed against a set tariff pricing structure. The pharmacist therefore procures the generic drug at the lowest available price from the wholesale supply chain, who in turn procures the lowest priced drug from any available manufacturer, ensuring that the generic drug market in the United Kingdom is purely driven by cost. The legal obligation on United Kingdom pharmacists to dispense a branded product if that is so prescribed presents the opportunity for the branded generic strategy of EcoGen. With a portfolio of widely prescribed generic drugs listed as trademarked branded generics, EcoGen can offer significant budgetary savings when compared to standard generics by offering these branded generics for sale at a price below the listed generic tariff. With UK Commissioning Groups (“CCG’s) being driven to find savings across their budgets where possible, we believe EcoGen’s branded generic strategy has been met favorably. Currently, we hold licenses to manufacture and sell Paracetamol, Glipizide and Omeprazole.
Paracetamol – Paracetamol is a pain reliever and a fever reducer used to treat many conditions such as headache, muscle aches, arthritis, backache, toothaches, colds, and fever.
Glipizide – Glipizide is an oral diabetes medicine that helps control blood sugar levels by helping the pancreas produce insulin. Glipizide is used together with diet and exercise to improve blood sugar control in adults with Type 2 diabetes mellitus.
Omeprazole – Omeprazole is used to reduce the amount of acid in the stomach in order to treat gastric or duodenal ulcers, gastroesophageal reflux disease (GERD), erosive esophagitis and hypersecretory conditions. Omeprazole is used to treat stomach infections caused by Helicobacter pylori bacteria.
We have sold our branded generic drugs to approximately five of the approximately 225 CCG’s through an exclusive distribution agreement with Alliance Healthcare. As we continue to develop our marketing strategy, expand our team of sales representatives and increase the line of pharmaceutical and medical device products offered to the CCG’s, we expect to capitalize on our distribution agreement with Alliance Healthcare.
Cody- Think about it this way. u owe 5 dollars to a bookie or teh corner loan shark. You pay the 5 dollars off plus 3 dollars of VIG that you borrow from the other corner loan shark on the next block over. Yes you paid off debt but you borrowed from a different shark to do it. It is called kicking the can ! Wait a minute= that is exactly what the brilliant CFO has done here . But wait he says " Interest Free loans to Insiders"= What the brilliant cfo didn't mention to you Cody was their was a secret reset called a convert built in at below market prices and wow 75 million shares plus show up . Brilliance but you Cody are left holding a .0032 bag of .... Well let's see what happens . Toxic boys are coming out like Kids on Halloween last year . Except the toxic boys have bags of stock not good candy. Cody- u in trouble here .
TOXIC TOXIC TOXIC .0032. and lower
answer the question = why didnt Pinsky get his stock. answer it
1 billion new shares will hit the markets soon. Where is Pinsky's stock? Not going to give it to him either- Another lawsuit comng . Ema and Auctus( Toxic Boys ) are getting ready to pounce. Keep buying Rah Rah investors. Massive issues with disclosure items. What contract was discontinued= what deal did you re-engineer. is that lawsuit filed yet. Margins are pathetic after sales and marketing . And the CEO plays games all day long with preferred stock- maybe he doesn't know what he is doing? More toxic groups getting ready to take him out to the woodshed. Where is the BOD = sleeping . Stock is headed lower once the gates are lifted. u keep buying though .
Certain of the 2019 Variable Rate Convertible Notes have maturity dates prior to June 30, 2021 and could be classified as a current liability. However, it is the Company’s expectation that such notes will be converted into shares, re-financed to longer terms, or paid off with the proceeds of long-term financing. Therefore, we have classified these notes as noncurrent. If we do not re-finance these convertible notes to longer terms, however, the holders of the convertible notes have the option to convert these notes into equity or hold the convertible notes to maturity.
In February 2018, we obtained a $100,000 line of credit from a bank. The line of credit was collateralized by a $100,000 certificate of deposit at the bank. The interest rate on the line of credit was 7.0% per annum. During the year ended June 30, 2020, proceeds from the certificate of deposit were used to repay the outstanding balance under the line of credit plus accrued interest.
On March 12, 2019, we obtained a $180,000 real estate loan from a financial institution. The note matured on April 1, 2020 and was extended to October 1, 2020. The Company is working on an additional extension of this loan. This real estate note is secured by certain real estate property and the personal guarantee of an officer and director of the Company. Interest only is payable monthly and accrues at an interest rate of 12%.
Beginning in the quarter ended June 30, 2019, we entered into a series of credit financing arrangements from financing institutions by pledging various Company assets. The proceeds from these credit agreements were used to pay the initial amount due under the Schreiber settlement agreement. As of June 30, 2020 and 2019, we had $129,389 and $253,219, respectively, outstanding on these loans.
LIES. LIES General
Currently, we are a diversified holding company which, through our subsidiaries, is engaged in sales and distribution of medical devices, sales of branded generic pharmaceutical drugs, commercial real estate investment and leasing, sales of point of entry full-body security systems, and specialized financial services.
Through our medical products business unit, we manufacture and sell our Sharps and Needle Destruction Devices (SANDD mini™, SANDD Pro™, SANDD-HP™ and SANDD-FR™) and our Carotid Artery Digital Non-Contact Thermometer. We also distribute for third parties WoundClot – Advanced Bleeding Control, digital non-contact thermometers and personal protection equipment. Our United Kingdom based subsidiary, EcoGen Europe, LTD (“EcoGen”), holds licenses to manufacture and market in the United Kingdom, Paracetamol, Gliclazide, and Omeprazole as branded generic pharmaceuticals.
Our real estate leasing revenues are generated from a commercial and residential property under a long-term lease. Additionally, our real estate investment unit holds a minority limited liability company interest in a commercial restoration project in Hawaii.
Our wholly owned subsidiary RedHawk Energy Corp., LLC holds the exclusive U.S. manufacturing and distribution rights for the Centri Controlled Entry System, a unique, closed cabinet, nominal dose transmission full body x-ray scanner.
Current Liabilities:
Accounts payable $ 425,884 $ 221,412
Accrued liabilities 642,929 678,273
Settlement liabilities 519,496 —
Current maturities of long-term debt 402,082 184,585
Operating leases - current 20,728 —
Lines of credit 129,389 253,219
Insurance notes payable 11,645 136,859
Total Current Liabilities 2,152,153 1,474,348
Non-current Liabilities
Due to related parties 242,000 230,250
Other non-current liabilities — 703,750
Operating leases – non-current 41,635 —
Real estate note payable, net of current maturities — 224,097
Convertible notes payable, net of $217,167 in unamortized deferred loan costs and $250,000 of unamortized beneficial conversion at June 30, 2020 and $49,241 in unamortized deferred loan costs at June 30, 2019 1,465,342 342,304
1,748,977 1,500,401
Total Liabilities 3,901,130 2,974,749
These 2019 Variable Rate Convertible Notes have interest accruing at rates ranging between 10% - 12%. These notes issued to third parties have a variable conversion rate based on the price of the Company’s common stock. None of the 2019 Variable Rate Convertible Notes have been converted into shares of common stock.
Beginning in the quarter ended June 30, 2019, we entered into a series of credit financing arrangements from financing institutions by pledging various Company assets. The proceeds from these credit agreements were used to pay the initial amount due under the Schreiber settlement agreement. As of June 30, 2020 and 2019, we had $129,389 and $253,219, respectively, outstanding on these loans.
DISASTER DISASTER In May 2020, we issued $350,000 in principal amount of new convertible notes (which we refer to as the “2020 Fixed Rate Convertible Notes”). As of June 30, 2020, $350,000 (approximately $55,000 net of unamortized deferred loan costs and unamortized beneficial conversion) of 2020 Fixed Rate Convertible Notes were outstanding. The 2020 Fixed Rate Convertible Notes accrue interest at 10% per annum, are convertible into shares of our common stock at a price of $0.005 per share, mature twelve months after issuance and are unsecured. The proceeds from the 2020 Fixed Rate Convertible Notes were used to repay approximately $285,000 of Variable Rate Convertible Notes more fully described below. When issued in May 2020, the 2020 Fixed Rate Convertible Notes had an initial conversion rate below the trading price of the Company’s common stock creating a beneficial conversion feature (“BCF”), which exceeded the total cash proceeds received from its issuance. Accordingly, the BCF was recorded as a debt discount and additional paid-in capital of $300,000. The debt discount is being amortized over the one-year term of the note.
Certain of the 2019 Variable Rate Convertible Notes have maturity dates prior to June 30, 2021 and could be classified as a current liability. However, it is the Company’s expectation that such notes will be converted into shares, re-financed to longer terms, or paid off with the proceeds of long-term financing. Therefore, we have classified these notes as noncurrent. If we do not re-finance these convertible notes to longer terms, however, the holders of the convertible notes have the option to convert these notes into equity or hold the convertible notes to maturity.
13. SUBSEQUENT EVENTS
The Company evaluates subsequent events through the time of our filing on the date we issue our consolidated financial statements, which was on November 18, 2020. The following are significant matters which occurred subsequent to June 30, 2020 and are not described fully in the notes to the financial statements:
? Subsequent to June 30, 2020, the principal amount of $426,500, plus accrued interest of $23,681, of the 2019 Variable Rate Convertible Notes were converted into 130,650,810 shares of common stock;
? Subsequent to June 30, 2020, the principal amount of $20,737, plus accrued interest and prepayment penalties, of the 2019 Variable Rate Convertible Notes was repaid;
? Subsequent to June 30, 2020, to assist with liquidity needs, the Company issued $200,000 in fixed rate convertible debt and accessed additional short term credit lines totaling approximately $200,000;
TODAY IS DDAY = LET THEM ROLL =. ROLLTIDE = LET THEM ROLL. ROLLTIDE
SHAMEFUL SHAMEFUL HOW THE SHAREHOLDERS ARE AND HAVE BEEN TREATED. SHAMEFUL SHAMEFUL. MARKET AT ALL TIME HIGH. SNDD MURDERED. DOWN 65% YTD. SHAMEFUL SHAMEFUL. WAIT UNTIL TEH BIG BOYS ARE ALLOWED TO GET OUT. OPEN THE TOXIC GATES LET THEM OUT BEFORE EMA TAKES MGMT OUT TO THE WOODSHED AGAIN. SHAMEFUL
WITH NO VACCINE IN SIGHT. WINTER IS HERE UBER COMPANY DID THIS T THEMSELVES WITH ALL THEIR TOXIC DEALS. MGMT SHOULD RESIGN WHAT THEY DID. AND THE BOD= ZEROS. THEY WILL BE HELD RESPONSIBLE AS WELL. .00000000000001
LOWER AND LOWER AND LOWER AND LOWER UNTIL THE GATES OPEN AND THEN .000000011111. when the TOXIC BOYS RELEASE THEIR VENOM. THE DEBT IS ENORMOUS AND UBER IS RIGHT. = 3 BILLION HERE WE COME
49 DAYS LEFT RAH RAH RAH CNOTE- OUR BOYS AND GIRLS ARE SO PROUD OF U ! BUT WAIT =. WHERE IS THE 10K=. DID THE AUDITORS QUIT ?? SHOW US THE NEW TOXIC DEALS ON THE BOOKS SHOW US. WE ARE SO HUNGRY. NO 10K LIES ON NT 10Q. PART 4 (2) LIES. FRAUD FEDS WILL BE IN SOON TO CHALLENGE YOUR LIES HORRIFIC NO 10K. THIS DOG WON'T HUNT. 49 DAYS LATE EMA aUCTUS WILL BE OUT SOON TO TAKE YOU BACK TO THE WOODSHED. WHERE ARE THE AUDITORS.
U CAN ALL FOCUS ON SWEET CUP OR FOCUS ON THE STOCK GETTING KILLED AND MGMT TAKING U FOR A MASSIVE TOXIC DILUTIVE RIDE DOWN A DARK LONG RABBIT HOLE - .00000000000000000001 OPEN THE GATES BOYS. SELLERS HAVEN'T EVEN STARTED.
STOCK DOWN 62% THIS YEAR- FUN FUN FUN. DISASTER RAH RAH RHA RAH RAH
EMA AUCTUS TOOK KLUG OUT TO THE WOODSHED ONLY QUESTION IS WILL THEY DO IT AGAIN
NT-10Q is FALSE. READ IT READ IT
FALSE FORMS ARE BEING FILED EVERYWHERE .
48 days AND COUNTING 10K = TRANSPARENCY. WHERE ARE THE AUDITORS=. DID THEY QUIT =. DID THEY QUIT
YES SO SO DESPERATE =. SO WANT TO OWN A PIECE OF HISTORY =. SO WANT TO BE PART OF THIS MASTER MGMT TEAM = SO WANT TO OWN THIS COMPANY =. MGMT BRILLIANT = EVERY MOVE THEY MAKE IS MASTERFUL = THE BEST = WE ARE DESPERATE TO OWN IT = BOYS AND GIRLS ARE WEEPING OVER THIS CULT LIKE FIGURE WHO RUNS THE COMPANY. MAGICALLY = BOD IS THE BEST THEY TELL ME THEY HAVE EVER SEEN = BRILLIANT MOVE NOT PUTTING OUT 10K and 10Q BRILLIANT
48 days 48 days LATE LATE LATE LATE WHAT ARE YOU HIDING WHAT ARE YOU HIDING =. OPEN THE TOXIC GATES