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February 16, 2016


FOR IMMEDIATE RELEASE                                                       FEBRUARY 16, 2016
 
Media Contact:
Julie Calzone
(337) 235-2924
 
Company Contacts:
Daniel J. Schreiber, CEO
(858) 509-8800
 
G. Darcy Klug, CFO
(337) 269-5933
 
 
REDHAWK REPORTS SECOND QUARTER RESULTS
 
 
Youngsville, Louisiana – RedHawk Holdings Corp. (OTC: IDNG) (“RedHawk” or the “Company”) announced today a net loss of $26,709 with revenues of $5,200 for the three month period ended December 31, 2015. The second quarter results included professional fees totaling $137,176 incurred principally in connection with the Company’s balance sheet recapitalization program and its strategy to pursue various target acquisitions. These unusually high levels of professional fees were offset with one-time income benefit of $156,697 resulting from the expiration of certain indebtedness.
 
The second quarter 2015 results compare to a net loss of $56,665 loss for the three month period ended December 31, 2014 on minimal revenues for the 2014 second quarter. The second quarter 2014 results included a one-time benefit of $37,351 resulting from the cancellation of certain management fees to former Company executives who were dismissed and not replaced. Excluding this one-time benefit in the management fees, the Company would have reported a net loss of $94,016.
 
Commenting on the second quarter results, Daniel J. Schreiber, the Chairman of the Board of Directors and the Chief Executive Officer of the Company, said, “During the second quarter, we initiated our program to recapitalize our balance sheet. The recapitalization program will continue into the third quarter and will include a $250,000 equity injection from Tom Concannon, our newly appointed Chief Operating Officer, in exchange for 250 shares of our Series B Preferred Stock. The balance sheet recapitalization will also include acquisition of an additional 530 Class A Units in the Tower Hotel Fund 2013, LLC in exchange for 1,183 shares of our Series A Preferred Stock. The purchase of these additional Class A Units increases our membership ownership interest in the restoration project to approximately 5.5%.”
 
“Once the recapitalization program is complete,” continued Schreiber, “management will then focus on completing several strategic transactions currently in process or under consideration, developing product awareness, establishing the revenue stream for each of our business units, maximizing profitability and enhancing shareholder value.” 
 
# # #
 
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.
 
 

  

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