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LAFAYETTE, LA / ACCESSWIRE / April 2, 2020 / RedHawk Holdings Corp. (OTC PINK:SNDD) ("RedHawk" or the "Company"), a diversified holding company primarily engaged in sales and distribution of medical devices, announced today that 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.
About RedHawk Holdings Corp.
RedHawk Holdings Corp., formerly Independence Energy Corp., is a diversified holding company which, through its subsidiaries, is engaged in the sales and distribution of medical devices, sales of branded generic pharmaceutical drugs, commercial real estate investment and leasing, sales of point of entry full-body security systems, and specialized financial services. Through its medical products business unit, the Company sells the Sharps and Needle Destruction Device (SANDD™), WoundClot Surgical - Advanced Bleeding Control, and the Carotid Artery Digital Non-Contact Thermometer. Through our United Kingdom based subsidiary, we manufacture and market branded generic pharmaceuticals. RedHawk Energy holds the exclusive U.S. manufacturing and distribution rights for the Centri Controlled Entry System, a unique, closed cabinet, nominal dose transmission full-body x-ray scanner. For more information, please visit: http://www.redhawkholdingscorp.com
Cautionary Statement Regarding Forward-Looking Statements
This release may contain forward-looking statements. Forward-looking statements are all statements other than statements of historical fact. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. The words "anticipate," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be," "potential" and any similar expressions are intended to identify those assertions as forward-looking statements.
Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties. In evaluating forward-looking statements, you should consider the various factors which may cause actual results to differ materially from any forward-looking statements including those listed in the "Risk Factors" section of our latest 10-K report. Further, the Company may make changes to its business plans that could or will affect its results. Investors are cautioned that the Company will undertake no obligation to update any forward-looking statements.
G. Darcy Klug, Chairman, CEO and CFO
Stephanie Prince, Managing Director
Valerie Allen Public Relations
SOURCE: RedHawk Holdings Corp.
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