Incoming order demand for its medical devices and supplies increased significantly during the last two weeks of March 2020 resulting in new order backlog in excess of $600,000 as of March 31, 2020, exclusive of the minimum number of contractually obligated orders from its distributor, Dolphin Medical LLC. The Company also said the March 31, 2020 backlog of new orders is projected to be delivered to customers and recognized as revenue in accordance with Generally Accepted Accounting Principles during the three month period ending June 30, 2020.
The new medical device and supplies orders are for the SANDD mini™, the Company's FDA-approved and OSHA compliant needle incineration device, the Company's line of digital non-contact thermometers and the Company's newly offered KN95 masks. The Company said this surge in new orders was the result of increased product demand caused primarily by the COVID-19 virus, and such increased demand is expected to continue into the three month period ending June 30, 2020.
RedHawk recently announced that it has received an order to supply the City of New York ("NYC") with an expedited delivery for 2,000 of its digital non-contact thermometers. The Company expects to complete delivery before the end of April 2020.
"Although current market conditions have resulted in increases in our purchase and shipping costs, we are not passing these increased costs on to our customers at this time. We intend to continue to practice this policy for as long as possible in order to get these much needed medical supplies to where they are needed the most," said G. Darcy Klug, RedHawk's Chairman and Interim Chief Executive Officer.
RedHawk currently offers for sale the SANDD mini™ and the SANDD Pro™, an FDA approved digital non-contact thermometer, KN95 masks, and will soon offer for sale an elite surgical mask.
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