INDG .0132 news
LAFAYETTE, La., Oct. 13, 2017 (GLOBE NEWSWIRE) -- 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.
“We are extremely excited about our association with MDG,” the Company said in a statement. “MDG will be instrumental in completing the second phase (“Phase 2”) of our increasing ownership in EcoGen Europe LTD which includes the return into treasury of 10 million shares of our common stock. We anticipate working with MDG to use our available treasury shares and the remaining availability under our secured debt credit facility, to continue restructuring our balance sheet and positioning RedHawk with any additional working capital needed to facilitate the completion of the recently announced expansion of our inventory of branded generic licenses and dossiers.”
Additionally, RedHawk Medical Products, LLC (“RMP”) announced today that it expects to receive this month, the initial delivery of its newly re-designed sharps and needle destruction device (“SANDD”) and is accepting orders for the sale of SANDD mini unit. Additionally, RMP said it expects to engage Louisiana State University to assist in the engineering of the next generation of SANDD which is expected to disintegrate needles with thicknesses of 18 gauge and higher and with lengths up to 2”. The re-designed SANDD mini can accept syringes up to 3cc and then disintegrate needles of 27 gauge and higher, with lengths up to 5/8”.
RMP said it hopes to have the next generation SANDD units ready for testing in early 2018. In combination, the Company said it believes SANDD units will then be capable of disintegrating and allowing for the safe, cost-effective and environmentally friendly disposal of most needles used in the medical, dental and veterinary markets.
The Company also announced today that it will not issue its Annual Report on Form 10-K until it has completed Phase 2 as it has a material impact on the Company’s financial statements. RedHawk further said it expects to have the Phase 2 agreements and completed by the end of October
