Hawkeye Systems Regains Compliance with Filing of Quarterly Report on Form 10-Q.
Hawkeye Systems, Inc. (OTCQB: HWKE) has filed its Form 10-Q for the quarter ending December 31, 2020, with the SEC. CEO Corby Marshall noted challenges during the pandemic, exacerbated by prior acquisition issues. However, the company plans to pivot into the PPE market and expects to increase revenue and margins in Q3 2021. The firm is also pursuing the acquisition of IKON and exploring other growth opportunities. The addition of CFO Christopher Mulgrew aims to enhance strategic focus and shareholder value.
- Filed Form 10-Q for Q4 2020, regaining compliance.
- Plans to enter the PPE market, expecting increased revenue and margins.
- New CFO is enhancing strategy and focus on shareholder value.
- Previous acquisition issues may hinder growth.
- Reliance on third-party suppliers could pose risks.
SAVANNAH, Ga., March 10, 2021 /PRNewswire/ -- Hawkeye Systems, Inc. (OTCQB: HWKE), a technology holding company focused on pandemic management products and services, is pleased to announce it has filed its Report on Form 10-Q filing for the quarter ended December 31, 2020, with the US Securities and Exchange Commission. The report is available for review at www.sec.gov.
Corby Marshall, Chief Executive Officer, stated, "As with many companies and individuals in 2020, we faced many challenges presented by the COVID-19 pandemic. For Hawkeye, these challenges were compounded by unethical representations from our previous acquisition target's leadership. In the face of this, we showed that we are agile enough to pivot and be opportunistic in moving into the PPE space, and we expect to begin to ramp our revenue and contribution margin in our third quarter ended March 31, 2021. We also have demonstrated that we are committed to getting our strategic plan on track and fulfilling our obligation to shareholders by seeking to be a fully compliant, reporting public company. We are very pleased with the addition of our new Chief Financial Officer, Christopher Mulgrew, who is helping focus our strategy, and he has succeeded in getting our filing status current so that we can now focus on creating shareholder value."
Regarding our previously announced potential acquisition of IKON, we continue with our due diligence and finalization of terms to refine the documentation relating to the transaction. Also, Hawkeye is evaluating other high-growth, strategic opportunities, and technologies that are category disruptors.
About Hawkeye Systems, Inc.
Hawkeye Systems, Inc. is a technology holding company focused on cutting-edge technology, pandemic management products, and services. The Company is committed to leveraging its extensive resources to support its ongoing mission to help our government and medical infrastructure keep civilians safe.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the PPE products and sales, the potential success of the Company, our growth strategy, and product development, including that of other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from those currently anticipated are risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers and partners; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. Important factors that may cause the actual results to differ from those expressed within may include, but are not limited to: the success or failure of Hawkeye's efforts to successfully market its products and services as scheduled; Hawkeye's ability to attract and retain quality employees; the effect of changing economic conditions; increased competition; the ability of Hawkeye to obtain adequate debt or equity financing. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.
For more information, please contact:
Corby Marshall, CEO
Phone Number: +1 (912) 388-6720
Email: info@hawkeyesystemsinc.com
Website: hawkeyesystemsinc.com
Investor relations - ir@hawkeyesystemsinc.com
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SOURCE Hawkeye Systems, Inc.
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