United Kingdom – Valiant Medical Spain – Dicam Imaging s,l Germany – Venner Medical Austria – Venner Medical Switzerland – Venner medical Italy – Medica Valeggia S.p.A ROW Distributors
New Zealand – to be appointed Australia – to be appointed
RedHawk Initiates Plan to Eliminate Debt https://finance.yahoo.com/news/redhawk-initiates-plan-eliminate-debt-200000478.html LAFAYETTE, La., Dec. 13, 2017 (GLOBE NEWSWIRE) -- RedHawk Holdings Corp. (IDNG) (“RedHawk” or the “Company”) announced today that it has received a favorable order from the Circuit Court of the Twelfth Judicial Circuit Court in the State of Florida (Case No. 2017 CA 5554) granting the Company approval of a settlement transaction (the “Transaction”) for RedHawk to issue up to $117,000 of its common stock (“Issued Shares”) in full satisfaction of up to $153,000 of 3rd party trade obligations and broker fees. The Issued Shares are exempt from registration pursuant to Section 3(a)(10) of the Securities Act of 1933, as amended, and will be issued at a 35% discount to market, as defined. Simultaneous with announcing the Transaction, RedHawk said it has entered into a common stock purchase and sale agreement (the “Purchase and Sale Agreement”) with Beechwood Properties, LLC (“Beechwood”) who beneficially owns approximately 60% of the Company’s outstanding common stock. Mr. G. Darcy Klug, the Company’s Chairman of the Board and Chief Financial Officer owns and controls Beechwood. Under the terms of the Purchase and Sale Agreement, RedHawk has agreed to purchase from Beechwood a like number shares (the “Beechwood Shares”) to be issued under the Transaction. The purchase price for the Beechwood Shares is also $117,000 and will be paid with the issuance of a promissory note (the “Note”) to Beechwood. The Note will accrue interest at 5% per annum and will mature three years from date of issuance. After two years from its issuance, the Note and any accrued interest, will become convertible into the Company’s Series A Preferred Stock. The Company said the Transaction and the Sale and Purchase Agreement were entered into with the objective of continuing to restructure the Company’s balance sheet by eliminating approximately $153,000 of 3rd party debt from the balance sheet, preventing shareholder dilution with the Transaction, and preserving cash to be used for future operations and strategic transactions. Additionally, RedHawk said, upon completion of the Transaction, the Beechwood Shares will be returned into the Company’s treasury with no increase in the number of outstanding shares.
RedHawk Completes EcoGen Share Transfer Agreement GlobeNewswire•December 11, 2017 https://finance.yahoo.com/news/redhawk-completes-ecogen-share-transfer-172605369.html LAFAYETTE, La., Dec. 11, 2017 (GLOBE NEWSWIRE) -- RedHawk Holdings Corp. (IDNG) (“RedHawk” or the “Company”) announced today that along with its wholly-owned subsidiary, RedHawk Pharma UK Limited (“RedHawk Pharma”), it has completed the previously announced share transfer agreement (“Share Transfer Agreement”) with Scarlett Pharma Limited (“Scarlett”), its affiliate, Warwick Healthcare Limited (“Warwick”) and the shareholders of Scarlett and Warwick. Under the terms of the Share Transfer Agreement, amongst other consideration, RedHawk Pharma assumed approximately $370,000 of obligations due to EcoGen by Warwick in exchange for which (i) Warwick transferred to RedHawk Pharma 247,269 preference shares in EcoGen; (ii) Scarlett surrendered 10,000,000 shares of RedHawk common stock (“RedHawk Shares”); and, (iii) the shareholders of Scarlett and Warwick paid RedHawk certain cash consideration.
With the completion of the Share Transfer Agreement, RedHawk Pharma now owns approximately $545,000 of preference shares and 75% of the common shares in EcoGen. The Company said it is evaluating the possibility of converting its EcoGen preference shares into additional common shares to further increase its common stock ownership in EcoGen. The RedHawk Shares were issued to Scarlett in connection with the Company’s initial March 2016 investment in EcoGen are being returned into the Company’s treasury.
RedHawk Announces First Quarter Results https://finance.yahoo.com/news/redhawk-announces-first-quarter-results-213000989.html LAFAYETTE, La., Nov. 22, 2017 (GLOBE NEWSWIRE) -- RedHawk Holdings Corp. (IDNG) (“RedHawk” or the “Company”) announced today its results for the three-month period ended September 30, 2017 as it continues to methodically build and develop its branded generic pharmaceutical and medical device business. For the three-month period ended September 30, 2017, the Company reported a smaller than expected consolidated net loss attributable to RedHawk of $55,464 on gross revenues of $67,893 as compared to a consolidated net loss attributable to RedHawk of $193,561 on gross revenues of $499,280 for the comparable three-month period ended September 30, 2016. The most significant change between the comparable three-month periods was the Company’s cash burn. During the three-month period ended September 30, 2017, RedHawk used cash of only $93,175 in its operating activities of which $94,455 was used to reduce trade debt as the Company continues to focus on reducing its short-term trade obligations. Excluding this reduction in trade debt, the Company’s operations would have been cash flow positive for the September 30, 2017 three-month period. Also, the cash burn from operations for the first quarter of fiscal 2018 was $150,844 better than the $244,019 of cash used by RedHawk in its operating activities during the comparable three-month period ended September 30, 2016 on far greater revenues. RedHawk achieved this improved operating performance primarily by slashing European operating costs. Also, the Company initiated its previously announced revised marketing strategy to focus more on the sale of RedHawk’s own, more profitable, branded generic pharmaceuticals and less marketing emphasis on the sale of highly competitive and less profitable pharmaceutical products owned by third-parties. Under this new marketing strategy, the temporary reduction in top-line revenue is offset by significantly lower customer discounts, dramatically improved customer credit worthiness, consolidation of administrative personnel, lower overhead costs and an improved third-party distribution infrastructure. As future sales to Clinical Commissioning Groups and hospitals increase, RedHawk believes when fully implemented, this marketing strategy and distribution and administration improvements will continue to result in increased profitability and improved cash flows from its operating activities.
The Company also said it believes the implementation of this new marketing and distribution strategy now positions its branded generic pharmaceutical operations to successfully complete and integrate its previously announced European hospital license acquisition and strategic marketing and operational joint venture agreements. In August 2017, the Company announced the execution of a non-binding letter of intent (“EU License Acquisition”) for the purchase of a portfolio of European (“EU”) hospital licenses to be combined with the portfolio of dossiers and licenses of EcoGen Europe Ltd. (“EcoGen”). The licenses to be acquired cover injectable anti-infective generic pharmaceuticals. RedHawk said it believes the acquisition of these licenses could result in the ultimate issuance of market authorizations in up to twelve (12) EU markets for seven (7) core anti-infective products including piperacillin-tazobactam (PipTaz), meropenum, imipenem/cilastatin and the four (4) most widely used cephalosporins
In September 2017, RedHawk Pharma UK Ltd. (“RedHawk Pharma”), a wholly-owned subsidiary of RedHawk, announced it had agreed in principle to enter into definitive marketing and operational joint venture agreements (“Joint Venture Agreements”) with ICE Pharma Group (“IPG”), a United Kingdom-based generic pharmaceutical sales and compliance company. IPG is led by David K. Bilton, a pharmaceutical healthcare veteran with 35 years of experience in global strategic procurement, supply chain management and business development. When the EU License Acquisition is complete, RedHawk Pharma will then own approximately 120 generic EU licensing assets. The Company expects to complete the EU License Acquisition and the Joint Venture Agreements by December 31, 2017 RedHawk Reports Year End Results RedHawk Reports Year End Results GlobeNewswire•November 1, 2017
LAFAYETTE, La., Nov. 01, 2017 (GLOBE NEWSWIRE) -- RedHawk Holdings Corp. (IDNG) (“RedHawk” or the “Company”) announced today a consolidated net loss of $407,681 on revenues of $1,670,488 (net revenues of $929,859) for the twelve month period ended June 30, 2017. The 2017 fiscal year end results include approximately $300,000 of non-recurring litigation and transactional costs. The June 30, 2017 fiscal year end results compare to a consolidated net loss of $1,267,960 on minimal revenues for the comparable twelve month period ended June 30, 2016. The net loss for the fiscal year ended June 30, 2016 included a non-recurring gain of $156,697 resulting from the expiration of certain indebtedness. Excluding this non-recurring gain, the Company reported a net loss of $1,424,657 for the twelve month period ended June 30, 2016.
The improved year-over-year performance resulted primarily from greater revenues from EcoGen Europe, Ltd. (“EcoGen”), RedHawk’s United Kingdom based provider of branded generic pharmaceuticals and “specials”. The Company said EcoGen is exiting the highly competitive market for “specials” and will instead focus exclusively on providing EcoGen’s branded generics to Clinical Commissioning Groups. While EcoGen will initially experience lower revenues with this new marketing emphasis, the Company said it believes this restructured marketing strategy will ultimately result in smaller customer discounts, improved profitability, significantly lower personnel and overhead costs, greater operating efficiencies and superior customer credit worthiness. Further, the Company said it believes the more streamlined operations resulting from this new marketing restructure will better position EcoGen’s branded generic operations for the completion, the acceptance and the ultimate efficient integration of RedHawk’s recently announced strategic acquisition of additional branded generic dossiers and licenses.
In August 2017, the Company announced the execution of a non-binding letter of intent (“EU License Acquisition”) for the purchase of a portfolio of European (“EU”) hospital licenses to be combined with EcoGen’s portfolio of dossiers and licenses. The licenses to be acquired cover injectable anti-infective generic pharmaceuticals. RedHawk said it believes the acquisition of these licenses could result in the ultimate issuance of market authorizations in up to twelve (12) EU markets for seven (7) core anti-infective products including piperacillin-tazobactam (PipTaz), meropenum, imipenem/cilastatin and the four (4) most widely used cephalosporins
In September 2017, RedHawk Pharma UK Ltd. (“RedHawk Pharma”), a wholly-owned subsidiary of RedHawk, announced it had agreed in principle to enter into definitive marketing and operational joint venture agreements (“Joint Venture Agreements”) with ICE Pharma Group (“IPG”), a United Kingdom-based generic pharmaceutical sales and compliance company. IPG is led by David K. Bilton, a pharmaceutical healthcare veteran with 35 years of experience in global strategic procurement, supply chain management and business development. LAFAYETTE, La., Nov. 01, 2017 (GLOBE NEWSWIRE) -- RedHawk Holdings Corp. (IDNG) (“RedHawk” or the “Company”) announced today a consolidated net loss of $407,681 on revenues of $1,670,488 (net revenues of $929,859) for the twelve month period ended June 30, 2017. The 2017 fiscal year end results include approximately $300,000 of non-recurring litigation and transactional costs. The June 30, 2017 fiscal year end results compare to a consolidated net loss of $1,267,960 on minimal revenues for the comparable twelve month period ended June 30, 2016. The net loss for the fiscal year ended June 30, 2016 included a non-recurring gain of $156,697 resulting from the expiration of certain indebtedness. Excluding this non-recurring gain, the Company reported a net loss of $1,424,657 for the twelve month period ended June 30, 2016. The improved year-over-year performance resulted primarily from greater revenues from EcoGen Europe, Ltd. (“EcoGen”), RedHawk’s United Kingdom based provider of branded generic pharmaceuticals and “specials”. The Company said EcoGen is exiting the highly competitive market for “specials” and will instead focus exclusively on providing EcoGen’s branded generics to Clinical Commissioning Groups. While EcoGen will initially experience lower revenues with this new marketing emphasis, the Company said it believes this restructured marketing strategy will ultimately result in smaller customer discounts, improved profitability, significantly lower personnel and overhead costs, greater operating efficiencies and superior customer credit worthiness. Further, the Company said it believes the more streamlined operations resulting from this new marketing restructure will better position EcoGen’s branded generic operations for the completion, the acceptance and the ultimate efficient integration of RedHawk’s recently announced strategic acquisition of additional branded generic dossiers and licenses.
In August 2017, the Company announced the execution of a non-binding letter of intent (“EU License Acquisition”) for the purchase of a portfolio of European (“EU”) hospital licenses to be combined with EcoGen’s portfolio of dossiers and licenses. The licenses to be acquired cover injectable anti-infective generic pharmaceuticals. RedHawk said it believes the acquisition of these licenses could result in the ultimate issuance of market authorizations in up to twelve (12) EU markets for seven (7) core anti-infective products including piperacillin-tazobactam (PipTaz), meropenum, imipenem/cilastatin and the four (4) most widely used cephalosporins
In September 2017, RedHawk Pharma UK Ltd. (“RedHawk Pharma”), a wholly-owned subsidiary of RedHawk, announced it had agreed in principle to enter into definitive marketing and operational joint venture agreements (“Joint Venture Agreements”) with ICE Pharma Group (“IPG”), a United Kingdom-based generic pharmaceutical sales and compliance company. IPG is led by David K. Bilton, a pharmaceutical healthcare veteran with 35 years of experience in global strategic procurement, supply chain management and business development.
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