REDHAWK HOLDINGS CORP. (OTCMKTS:IDNG) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01
On June 24, 2021, RedHawk Land & Hospitality LLC (“RedHawk Land”), a wholly-owned subsidiary of the Registrant, closed on the sale of its former corporate headquarters located on Chemin Metairie Road in Youngsville, Louisiana (the “Property”) to a Purchase and Sale Agreement (the “Agreement”) dated May 6, 2021. There were no relationships, other than with respect to the Agreement, between RedHawk Land, the Registrant and the buyer. The aggregate gross purchase price for the Property was $256,000. The proceeds from the sale were used to pay closing costs, pay in full a certain real estate loan in the principal amount of $180,000 plus accrued interest and to provide working capital.
About REDHAWK HOLDINGS CORP. (OTCMKTS:IDNG)
Redhawk Holdings Corp., formerly Independence Energy Corp., is a 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. The Company’s segments include Land & Hospitality, Medical Device & Pharmaceutical, and Other Services. The Land & Hospitality, and Other Services segment units operate in the United States. The Medical Device & Pharmaceutical segment operates in the United Kingdom. The Company, through its medical products business unit, sells WoundClot Surgical-Advanced Bleeding Control, the Disintegrator Insulin Needle Destruction Unit, the Carotid Artery Digital Non-Contact Thermometer and Zonis. The Company’s real estate leasing revenues are generated from a commercial property under a long-term lease.