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Well over $500,000 for 52,377,108 common shares.
In consideration of the mutual promises, covenants and conditions contained in the Settlement Agreement, the parties agreed that (i) Mr. Schreiber and the Schreiber Trust would transfer all Company stock they then owned (52,377,108 common shares) to the Company and (ii) the Company would (a) make to Mr. Schreiber and the Schreiber Trust a cash payment of Two Hundred Fifty Thousand and 00/100 Dollars ($250,000.00) and (b) issue two Promissory Notes, each in the principal amount of Two Hundred Thousand and 00/100 Dollars ($200,000.00), one of which was due and payable on or before September 6, 2020 (“Note 1”) and the other was due and payable on or before September 5, 2021 (“Note 2”). As a result of this Settlement Agreement, the Company recorded a loss of $471,880 in the year ended June 30, 2019.
How much has it cost Mr. Klug to get these 58 million shares back over the last few years?
6 months to a year?
Still reporting 8k's so that is good!
Item 8.01Other Events.
On September 23, 2021, the United States District Court for the Eastern District of Louisiana (the “Louisiana Court”) under Civil Action No. 2:17-cv-819-B(3) (the “Litigation”) granted the defendants’ motion to enforce the settlement agreement entered into between the Company and the defendants, Daniel J. Schreiber and the Daniel J. Schreiber Living Trust – Dtd 2/08/95. The Louisiana Court ordered the Company to pay the defendants the amount of $101,490.27, representing its calculation of the contractual interest in the amount of 18% of the outstanding principal balance of the two promissory notes issued pursuant to the settlement agreement until paid, plus certain reasonable attorneys’ fees and costs incurred.
The Company believes the Louisiana Court’s September 23, 2021 ruling is in error.
On October 15, 2021, the Company filed a Motion for Reconsideration asking the Louisiana Court to reconsider its ruling.
On January 5, 2022, the Louisiana Court denied the Company’s October 15, 2021 Motion to Reconsider.
On February 2, 2022, the Company filed notice to appeal the Louisiana Court’s ruling to the United States 5th Circuit Court of Appeals.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized.
REDHAWK HOLDINGS CORP. Date: February 3, 2022By:/s/ G. Darcy Klug G. Darcy Klug Chief Financial Officer
Hopefully we trade again...
Is there court/legal stuff this week or upcoming?
Really. Wow. Would be amazing!
Maybe 3 months to 1 year?
You think this will take longer than 2 years to resolve?
Wonder if we will ever hear anything public from the company about this?
6 months to a year or two?
A company pushed down to the Expert Market would be able to apply for relisting on OTC Markets Group once a market maker has filed a new Form 211 with FINRA, and the company has made current public information available. This requires a company to locate a market maker to file a Form 211 on its behalf and, once the form is filed, there is no set timeframe for a re-application approval. When compliance with the amended rule is demonstrated, relisting can occur.
Anyone called or emailed company and have anything to share?
The optics look real bad right now. They pumped out huge news about entering the cannabis industry and having $12 million in future sales in February and then went dead silent and missed filing deadlines while the stock crashed.
At some point $SNDD is gonna need to put out something publicly to ease investors fears and outline a plan forward, right?
Anyone heard from company?
$SNDD
$SNDD Peace! Thanks for the memories.
So experts, professionals, hedge funds, they can get shares at .0001 but retail can't?
Any thoughts?
Anyone emailed or called the office? Where are some of our Louisiana guys at? Somebody help us and let us know what the heck is going on here?
Do we expect to hear anything from Redhawk? Where does this leave the little common shareholders?
They were current once the new rules took place in September but did not report after. Makes no sense.
General, thoughts?
Makes no sense.
$SNDD .000001
So now we wait till we can get back on OTC Pink Current? Could be 6 months? A year? Two years?
$SNDD .001 down 66%. Only up from here!
Well. No point in selling now. Might as well see what happens. The experts are gonna get my shares!
.001 3 year low hit today though
Well by the grace of god we didnt hit trips today. Held strong at .001.
Anyone contacted the office today?
What brokerages can you buy expert market stocks? Looks like no level 2 available, but we can see the trades and volume here on ihub.
Gotta belive Mr. Klug has a plan. His history shows he cares about common shareholders. Still gotta believe that is true.
Thanks for that 2Times2!