YOUNGSVILLE, LA / ACCESSWIRE / October 25, 2016 / RedHawk Holdings Corp. (IDNG) ("RedHawk" or the "Company") announced today it has completed the re-engineering of its Sharps and Needle Destruction Device ("SANDD") and has received pre-market clearance from the U.S. Food and Drug Administration for the sale of SANDD in the United States. RedHawk Medical Products, LLC, a wholly-owned subsidiary of RedHawk, acquired the tangible and intangible property rights to SANDD (formerly known as the Disintegrator™ Insulin Needle Destruction Unit) in December 2015.
The Company said initial manufacturing of the SANDD units has commenced and it expects deliveries and sales of SANDD to begin during the quarter ending December 31, 2016. Marketing of SANDD will initially be focused on the United Kingdom and the Middle East countries. Deliveries and sales in the United States are expected to begin during the three month period ending March 31, 2017.
SANDD is a portable, battery operated, insulin-needle destruction device primarily used by diabetics at home or in small hospital and clinical settings. The device is intended for the safe and environmentally friendly disposal of 27-30 gauge insulin hypodermic needles that are 5/16 to 1/2 inch in length. It can be used with most insulin pens with disposable insulin syringes from 1/3 to 1 cubic centimeter in volume. SANDD is an effective alternative to hazardous waste needle disposal utilizing sharps containers.
About RedHawk Holdings Corp.
RedHawk Holdings Corp., formerly Independence Energy Corp., is a diversified holding company which, through its subsidiaries, is engaged in 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 WoundClot Surgical - Advanced Bleeding Control, the Sharps and Needle Destruction Device, the Carotid Artery Digital Non-Contact Thermometer and Zonis®. Its real estate leasing revenues are generated from various commercial properties under long-term lease. Additionally, RedHawk's real estate investment unit holds limited liability company interest in various commercial restoration projects in Hawaii. The Company's financial service revenue is from brokerage services earned in connection with debt placement services. 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.
Cautionary Statement Regarding Forward Looking Statements
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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.
Thomas J. Concannon, CEO
G. Darcy Klug, CFO
SOURCE: RedHawk Holdings Corp.