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AlwaysRed- MD Global - What happened with them? Don't see them at all in current information.
Divest- Please show us where is it in the filings? We can't find it. This is the first we are hearing of this . Did the company disclose this?
Divest- u are 100% sure there was nothing worth reporting? It was a walk away?
We can't find the Auctus documents anywhere in the company's public filings? Can anyone help? Jelly?
Can anyone point us to the Auctus settlement? We didn't see it in any 8k , 10q or 10k ? Or is the case still active? Jelly?
LaundryGuy- We are trying to figure out why professional fees are so high for a company with very little sales. Any insight?
On October 11, 2019, Mr. Schreiber and the Schreiber Trust filed a Motion to Enforce Settlement Agreement (the “Motion”) with the Louisiana Court alleging that the Company has failed to comply with its obligations under the Settlement Agreement by selling stock for cash subsequent to the parties entering into the Settlement Agreement. The Motion seeks to accelerate the amounts owed to Mr. Schreiber and the Schreiber Trust under the Settlement Agreement as well as attorneys’ fees. The Company believes the Motion is without merit and intends to vigorously defend against the Motion.
Pursuant to a Security Agreement between the parties, Mr. Klug and Beechwood secured the Company’s obligations to the Schreiber Trust under the Settlement Agreement by granting first-priority security interests in (i) 1,000 shares of Mr. Klug’s Series B Preferred Company Stock; and 1,473 shares of Mr. Klug’s Series A Preferred Company Stock, and (ii) Beechwood’s interest in the Tower Hotels Fund 2014, LLC.
Jelly, Who was the seller? Can't find that yet - need to peel harder and deeper.
The quarterly payments and the consulting fee have been suspended at the present time as the Company and the seller negotiate certain disputes related to representations made by the seller at the time the Company acquired the rights. The ultimate date and resolution of this negotiation cannot be estimated at this time. What is this all about Jelly?
In September 2018, the Company acquired the exclusive license rights to certain medical device technology for $450,000, plus a broker’s fee of $17,500. Under the terms of the license agreement, the Company has paid $25,000 plus the first of a total twenty quarterly payments of $21,250. Any remaining payments become immediately payable upon the receipt of final approval by the FDA of devices related to the technology. Additionally, the Company agreed to pay a consulting fee of $1,000 per month for sixty months. The broker’s fee was paid through the issuance of 14 million shares of the Company’s common stock. The quarterly payments and the consulting fee have been suspended at the present time as the Company and the seller negotiate certain disputes related to representations made by the seller at the time the Company acquired the rights. The ultimate date and resolution of this negotiation cannot be estimated at this time. As a result, the Company has included all of the future payments under the original agreement as noncurrent in the accompanying March 31, 2020 and June 30, 2019 consolidated balance sheets.
Jelly, Tell us about the MD Global deal?
Lafayette, Louisiana – RedHawk Holdings Corp. (OTCQB: IDNG) (“RedHawk” or the “Company”) announced today that it has engaged MD Global Partners, LLC (“MDG”), a Manhattan based investment bank, partner and advisory that serves small cap and middle market companies. Their broad range of financial and management resources provides clients like RedHawk with premium services that are generally only available to larger companies. MDG is a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.
appreciate your thoughts - If they issued it we would expect to see it in an 8k. Transparency
Do you for sure Dr. Drew decided not to extend??? Jelly?
Pursuant to the Agreement, the Company agreed to issue to the Consultant 68,700,000 shares of the Company’s common stock, which is equal to approximately 5% of the Company’s outstanding common stock on a fully diluted basis as of the Effective Date. Further, the Company has agreed to issue to the Consultant, one year after the Effective Date, an additional 68,700,000 shares of the Company’s common stock, unless DPI has provided the Company with written notice of its intention not to extend the Initial Period. As of the date of this Quarterly Report on Form 10-Q, the Company has not yet issued any of the shares pursuant to the Agreement. Maybe Dr. D is selling 137,400,000 shares ? What do you think Jelly?
Look what we found in the onion- At March 31, 2020, $835,737 of the 2019 Variable Rate Convertible Notes were convertible into common stock beginning in the quarter ending June 30, 2020. Subsequent to March 31, 2020, we repaid outstanding principal amount of $335,000, plus accrued interest and prepayment penalties, under these 2019 Variable Rate Convertible Notes. 500k is being converted as we speak- just a hunch. What so you think Jelly?
Accumulated deficit as of 3/31/20 (7,052,616)
On August 20, 2018, by a vote of the majority of our stockholders, we increased the number of our authorized common shares from 1,000,000,000 to 2,000,000,000. More dilution coming anyway you cut it.
Major distraction and charade. BOD needs to due their job or move on.
Meant the BOD - and of course our sweet Jelly !
Distractions , Dilution, and Hype. Time to stop the Madness . This board needs to step up and stop this behavior.
spot on. more dilution coming . Great distraction
And we will look deep through all the layers so Investors can be protected . You all should be very happy we are here . Clearly we will look through every filing and every post to make sure their was always proper and timely disclosures. We will make sure there is a level playing field.
Gooddolphin- we will help you find out exactly who is at the root of this not taking off. 1 billion shares of stock hitting the market is a pretty good start with nothing but losses. = massive dilution, no cash flow, no working capital, Massive debts, but sales are ramping. We are watching. Onion is being peeled and we hope the core isn't rotten. We will be back to you all shortly with our findings.
Transparency is our only goal. We will continue to report on dilution and Insider deals . Let us continue to peel this back- We would hope that you would applaud our efforts to all shareholders . 1.3 billion shares and counting, no working capital and heavy heavy losses. Those can all be reversed as long as mgmt plays by the rules . We will make sure they do . Unless some of you have motives to hide fraudulent acts we would hope you are glad some group will hold this company accountable. As we said earlier we will see if this dog will hunt.
Brilliant advise Jelly. Brilliant
As we continue to peel back this exchange agreement we will report what we find.
On June 20, 2019, RedHawk Holdings Corp. entered into a Stock Exchange Agreement (“Exchange Agreement”) with Beechwood. G. Darcy Klug, the Company’s Chairman of the Board, Interim Chief Executive Officer 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 and a Stock Purchase Warrant (“Warrant”) to acquire 113,508,450 shares of Common Stock at an exercise price of $0.005 per share (collectively, the “Transactions”). The Warrant expires June 20, 2029. Jelly, Can you explain this one?
During the fiscal year ended June 30, 2019, certain members of the board of directors and stockholders of the Company made $242,000 in interest free advances to the Company. The advances are convertible into shares of the Company’s common stock at rates ranging from $0.0024 to $0.0050 or 75,916,667 shares of common stock. During the quarter ended December 31, 2019, the Company received notice from the holders of $142,000 of these related parties of their intent to exercise their right to convert their advances into 55,916,667 shares of common stock. The conversion should be completed subsequent to the year ending June 30, 2020. Interest Free loans !
30% dilution and counting. Next layer of the onion will be this Exchange agreement. Back to you folks soon. Thanks Jelly for encouraging.
It is so refreshing to see posts like this from a lawyer. Journalists encourage free thinking and free speech. We will continue to peel this onion back to educate and give all Investors transparency. Well done.
30% dilution with more to come. This company has no working capital to sell their 3rd party products or their needle device. Where will the money come from besides selling more stock. 2 billion shares here we come. Only time before the authorized gets increased to 3 billion. Or maybe we will see more board of directors issue Interest free loans. will keep digging and report back
comments like that make me want to dig in deeper and peel back even further.
looks like 32 mill shares were sold to raise money . sure would hope if they are selling stock they would put an 8k out.
Jelly also how did they raise the 200k ? They is no mention anywhere- no 8k . Where do we find that Jelly? Maybe Mr.Darcy loaned it again and will convert into more stock later? Thoughts? Mr. Darcy is so creative with his fundings- no one quite like him.
30% dilution - Help them Jelly
very very sad. as we thought- more shares coming Who was said non dilutive??? How about apologizing to this board.