14 Feb 2006director interest notice● Neutral
Aubrey E Swift became a HII Technologies, Inc. 10%+ owner and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
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.
15 Aug 2005late filing notice▼ Bad
HII Technologies, Inc. notified the SEC that its quarterly report would be filed late.
19 May 2005director interest notice● Neutral
HII Technologies, Inc. Exec.VP, CFO, Tres. and Sec. Matthew C Flemming received 7,000,000 shares as part of the equity award.
19 May 2005director interest notice● Neutral
HII Technologies, Inc. VP and COO Russ Clark received 8,750,000 shares as part of the equity award.
19 May 2005director interest notice● Neutral
HII Technologies, Inc. President and CEO Larry C Shumate received 10,500,000 shares as part of the equity award.
19 May 2005director interest notice● Neutral
HII Technologies, Inc. director Frank X Marshik received 1,400,000 shares as part of the equity award.
5 May 2005bankruptcy or receivership▼ BadMajor
This continues the Excalibur Holdings bankruptcy. On April 20, 2005 the court lifted the stay so Stillwater National Bank, the senior lender, could enforce its rights over the Shumate Machine Works stock, including foreclosure. Stillwater has given notice that it intends to sell the Shumate stock in a private sale after May 9, 2005, and Excalibur Industries says it intends to bid. The filing does not say whether the bid will succeed.
11 Mar 2005bankruptcy or receivership▼ BadMajor
On March 9, 2005 Excalibur Holdings, the subsidiary created in the 2002 merger and parent of Shumate Machine Works, filed for Chapter 7 bankruptcy in the Southern District of Texas, listing about $13.6 million of liabilities. Shumate's stock is the estate's only asset and is pledged to senior lender Stillwater National Bank, which could sell it or a third party could buy it. Excalibur Industries and Shumate did not file, and Excalibur Industries says it intends to bid for the Shumate stock if it is put up for sale.
5 Jan 2005director interest notice● Neutral
HII Technologies, Inc. CFO, Secretary, Treasurer Matthew C Flemming disposed of 1,600,000 shares via option/appreciation-right settlement.
15 Nov 2004late filing notice▼ Bad
HII Technologies, Inc. notified the SEC that its quarterly report would be filed late.
17 Aug 2004late filing notice▼ Bad
HII Technologies, Inc. notified the SEC that its quarterly report would be filed late.
8 July 2004director interest notice● Neutral
Russ Clark became a HII Technologies, Inc. Director, COO, VP and company insider (initial ownership filing).
21 May 2004director interest notice● Neutral
Larry C Shumate became a HII Technologies, Inc. Director, CEO, President and company insider (initial ownership filing).
6 May 2004listing compliance notice▼ Bad
HII Technologies, Inc. withdrew a registration statement, abandoning the offering it covered.
30 Mar 2004late filing notice▼ Bad
HII Technologies, Inc. notified the SEC that its annual report would be filed late.
4 Feb 2004auditor change▼ Bad
On January 19, 2004 the company dismissed Cross and Robinson as auditor and engaged Malone & Bailey, PLLC (engaged January 26, 2004). The filing says there was no disagreement, but Cross and Robinson's report for 2002 raised substantial doubt about the company continuing as a going concern, citing recurring losses, significant acquisition and operating debt (some in default) and a net capital deficiency. For shareholders this shows financial strain in the years after the 2002 merger.
17 Nov 2003late filing notice▼ Bad
HII Technologies, Inc. notified the SEC that its quarterly report would be filed late.
5 Nov 2003director interest notice● Neutral
HII Technologies, Inc. Corporate Secretary Walter Grieves received 166,667 shares as part of the equity award.
15 Aug 2003late filing notice▼ Bad
HII Technologies, Inc. notified the SEC that its quarterly report would be filed late.