20 Feb 2007securities registration● Neutral
HII Technologies, Inc. filed the final prospectus for a registered offering.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Feb 2007director interest notice● Neutral
HII Technologies, Inc. officer Matthew C Flemming disposed of 64,500 shares via option/appreciation-right settlement.
14 Feb 2007director interest notice● Neutral
Larry C Shumate became a HII Technologies, Inc. President & CEO and company insider (initial ownership filing).
14 Feb 2007director interest notice● Neutral
Steven Burr Erikson became a HII Technologies, Inc. director and company insider (initial ownership filing).
14 Feb 2007director interest notice● Neutral
Russ Clark became a HII Technologies, Inc. VP & COO and company insider (initial ownership filing).
14 Feb 2007director interest notice● Neutral
Francis Jungers became a HII Technologies, Inc. director and company insider (initial ownership filing).
31 Jan 2007securities registration● Neutral
HII Technologies, Inc. filed the final prospectus for a registered offering.
29 Jan 2007securities registration● Neutral
HII Technologies, Inc. amended a filing by which it registered a small-business securities offering with the SEC.
18 Jan 2007director interest notice● Neutral
Steven Burr Erikson became a HII Technologies, Inc. director and company insider (initial ownership filing).
18 Jan 2007director interest notice● Neutral
Francis Jungers became a HII Technologies, Inc. director and company insider (initial ownership filing).
29 Dec 2006securities registration● Neutral
HII Technologies, Inc. registered a small-business securities offering with the SEC.
17 Oct 2006director interest notice● Neutral
Leo B Womack became a HII Technologies, Inc. director and company insider (initial ownership filing).
17 Oct 2006director interest notice● Neutral
Kenton Chickering III became a HII Technologies, Inc. director and company insider (initial ownership filing).
5 June 2006securities registration● Neutral
HII Technologies, Inc. amended a filing by which it registered a small-business securities offering with the SEC.
25 Apr 2006securities registration● Neutral
HII Technologies, Inc. registered a small-business securities offering with the SEC.
18 Apr 2006material agreement▲ GoodMajor
On April 13, 2006 Stillwater agreed to accept $500,000 in full payment of the $2,500,000 convertible note from the October 2005 restructuring, if it is paid by September 1, 2006 from new equity funds (not borrowed money) on terms no better than those recently approved by Stillwater. If this happens the company expects about $2,000,000 of debt forgiveness income; it is conditional and not yet done.
6 Apr 2006material agreement termination▲ GoodMajor
The company and Stillwater signed an amendment forgiving $2,000,000 of the term note from the October 2005 restructuring, replaced by a new note of $3,633,053 due April 19, 2008, which follows through on the debt forgiveness flagged in February. Separately, Shumate Machine Works replaced its lease on its ~25,000 sq ft Conroe plant with a five-year lease at $18,600 a month, which is $4,000 a month lower. (The filing says the amendment was dated March 31, 2005, which appears to be a typo for 2006 - inference.)
23 Feb 2006capital raising announcement▲ GoodMajor
On February 22, 2006 the company sold 3,333,333 shares at $0.60 in a private placement (First Montauk as placement agent for 2,500,000), netting about $1,810,000 to launch the HemiWedge valve, and for working capital. The press release says the total raise was $2.25 million with the December 2005 closing, and that Stillwater agreed to forgive about $2.0 million of the $5.6 million term loan; this adds shares and dilutes existing holders but cuts debt.
14 Feb 2006director interest notice● Neutral
Aubrey E Swift became a HII Technologies, Inc. 10%+ owner and company insider (initial ownership filing).
14 Feb 2006director interest notice● Neutral
Matthew C Flemming became a HII Technologies, Inc. EVP, CFO, Treasurer, Secretary and company insider (initial ownership filing).
14 Feb 2006director interest notice● Neutral
Russ Clark became a HII Technologies, Inc. VP & Chief Operating Officer and company insider (initial ownership filing).
14 Feb 2006director interest notice● Neutral
HII Technologies, Inc. director Frank X Marshik gifted 2,858 shares.
14 Feb 2006director interest notice● Neutral
Larry C Shumate became a HII Technologies, Inc. President and CEO and company insider (initial ownership filing).
6 Dec 2005bankruptcy or receivership▲ GoodMajor
On December 5, 2005 the company, through a new subsidiary HemiWedge Valve Corporation, bought the HemiWedge valve patents, trademarks and website from Soderberg Research and Development for $138,500 cash, a $100,000 two-year 6% note, $72,000 in escrowed monthly advances and 3% of related net sales through March 29, 2013. This starts a new product line alongside Shumate Machine Works; the cash was funded by A. Earl Swift buying 416,667 shares at $0.60 ($250,000). On December 1 the machine works also leased a ~60,000 sq ft Conroe facility (about $14,000 a month, with a purchase option at $1,825,000).
2 Dec 2005director interest notice● Neutral
Southwest Bancorp INC became a HII Technologies, Inc. 10%+ owner and company insider (initial ownership filing).
2 Dec 2005substantial holder notice● Neutral
Stillwater National Bank and Trust Company disclosed a new substantial HII Technologies, Inc. shareholding (34.60% of votes).
2 Dec 2005director interest notice● Neutral
Stillwater National Bank & Trust CO became a HII Technologies, Inc. 10%+ owner and company insider (initial ownership filing).
15 Nov 2005late filing notice▼ Bad
HII Technologies, Inc. notified the SEC that its quarterly report would be filed late.
7 Nov 2005capital raising announcement▼ BadMajor
This amended 8-K replaces the October 25 report to reflect post-closing adjustments to the October 19, 2005 restructuring. The main change is that the restated Stillwater term note is about $5,600,000 (not ~$4,000,000), with interest-only payments for six months and 24 monthly payments after that; the other terms (convertible note, share swaps, restricted stock) are unchanged in the text.
26 Oct 2005capital raising announcement● NeutralMajor
On October 19, 2005 the company (now renamed Shumate Industries, formerly Excalibur Industries) completed an out-of-court debt restructuring, resolving the Excalibur Holdings/Shumate Machine Works stock sale threat from earlier in 2005: Stillwater transferred 100% of Shumate Machine Works' stock to the company. Stillwater's notes of about $9,413,000 were restated into a ~$4,000,000 term note, plus a $2,500,000 convertible note (at $1.00 per share) and $2,368,000 of debt swapped for shares (not less than 20% of the post-deal stock). Unsecured notes were swapped for about 1,691,310 shares (~14.61%), about 3,950,000 restricted shares (~34.12%) went to officers and directors, and a 1-for-7 reverse split took effect, so existing shareholders were heavily diluted.