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Sure, but the price reflects the uncertainty of the business as it relates to the pending lawsuit. Until that's resolved, we're stuck in limbo. An investment in RGIN, at this point, is a bet that the courts rule in our favor, and do so prior to the company running out of funds to continue operations.
Explain.
Why do you say ~$1? I mentioned .35 since that is about where it was trading at when it was assumed that progress was being made.
Anyone have any idea how long this case may take to play out? Assuming it's ruled in favor of RGIN, do you think the share price will bounce back to it's old trading range ~.35?
If there's no news by the end of October, I think it will slip below .10. Everything with this company moves a glacial pace, which, despite the massive potential, tests investors' patience.
I've been invested in this company since 2006, back when they were Shumate Industries. Never before did they host a conference call. That they are doing so today, I believe, speaks volumes to the progress they have made.
Damn! Moving on up!
A) The deal announced today is for just a few months. Had it been for 12+ months, it would sit better with investors.
B) It's one deal. Hopefully that changes soon and more deals are announced, which will in turn signal to the market that the service is gaining industry acceptance.
C) How profitably can this division be run? We don't know yet, and won't know for certain until 3rd quarter results are released.
This is a great foot in the door for HIIT with water recycling tech. I do wish that this project went beyond just September, though. Hopefully more water recycling contracts are signed before this one is up!
LinkedIn. HIIT should create a company page there. Low hanging fruit, and it's a great way to gain exposure.
Why do you say that?
Form 8-K for HII TECHNOLOGIES, INC.
17-Jun-2014
Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Submissio
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
Article IV of HII Technologies, Inc.'s (the "Company") Certificate of Incorporation, as amended, authorizes the Company to issue 10,000,000 shares of preferred stock, $0.001 par value per share, issuable from time to time in or more series ("Preferred Stock"). On June 11, 2014, the Company filed with the Delaware Secretary of State a Certificate of Designation of Series A Convertible Preferred Stock (the "Series A Certificate of Designation") which sets forth the rights, preferences and privileges of the Series A Convertible Preferred Stock (the "Series A Preferred"). Three thousand (3,000) shares of Series A Preferred with a stated value of $1,000 per share were authorized under the Series A Certificate of Designation
Pursuant to the terms of the Series A Certificate of Designation, each share of Series A Preferred: (i) is entitled to receive cumulative cash dividends at an annual rate of 10% out of any funds and assets of the Company legally available therefor, prior and in preference to any declaration or payment of any dividend payable on the Common Stock, payable quarterly; (ii) is convertible into a number of shares of Common Stock equal to the quotient of $1,000 divided by the conversion price then in effect, which is initially $0.70; (iii) votes generally with the Common Stock on an as-converted basis on all matters, other than those matters on which the Series A Preferred is entitled to vote as a separate class by law or as set forth in the Series A Certificate of Designation; (iv) is senior to the Common Stock upon a liquidation of the Company; (v) is automatically converted into Common Stock at the then applicable conversion price: (A) (1) if the underlying conversion shares are registered or such conversion shares are eligible for resale under Rule 144 under the Securities Act of 1933 and (2) Company's stock price is at least $1.60 for 40 trading days during a 60 trading day period with average daily volume of at least 50,000 shares during those 40 trading days; (B) upon the written consent of the holders of 50% of the Series A Preferred, or, (C) on June 30, 2017; and (vi) is entitled to anti-dilution adjustments in the event of a dividend, stock split, reclassification, reorganization, consolidation or merger.
The foregoing summary of the Series A Certificate of Designation is not complete and is qualified in its entirety by reference to the Series A Certificate of Designation, a copy of which was filed as Exhibit 3.1 to Current Report on Form 8-K and is incorporated herein by reference.
Item 5.07 Submission of Matters to a Vote of Security Holders.
(a)
The Company held its annual meeting of shareholders on June 16, 2014. Each matter voted upon at the meeting and the results of the voting on each such matter are presented in (b) below.
(b)
Proposal 1 - Election of Five Directors.
Director Votes For Votes Withheld Broker Non-Votes
Matthew C. Flemming 23,772,754 213,940 14,352,767
Kenton Chickering III 23,772,769 213,925 14,352,767
Leo B. Womack 23,799,569 187,125 14,352,767
Brent Mulliniks 23,772,769 213,925 14,352,767
Thomas Alex Newton 23,799,569 187,125 14,352,767
Messrs. Flemming, Chickering, Womack, Mulliniks and Newton were elected as directors.
Proposal 2 - Ratification of the appointment of MaloneBailey LLP, as the independent registered public accounting firm for 2014.
Votes For Votes Against Abstentions Broker Non-Votes 38,292,627 44,784 2,050 0
The appointment of MaloneBailey LLP was ratified.
Section 9 - Financial Statements and Exhibits
Item 9.01
Financial Statements and Exhibits.
(c)
Exhibits.
3.1
Certificate of Designation-Series A Preferred Stock
This could be a unique "Green" fit for HIIT's portfolio:
Is There a Commercial Need for a Sensitive and Specific Method to Directly Measure Hydraulic Fracturing Fluid (HFF)?
Christopher Reinhardt
President and CEO at BioPAL, Inc.
We plan to develop technology to directly measure specific components of HFF without the need to introduce a secondary tracer into the HFF formula. The test will be easy-to-run, inexpensive, and readily adaptable for any laboratory and modifications of the technology can also allow for the development of a home-use test. Overall, the test will be accurate and highly sensitive and specific for the targeted component(s) of the HFF. The technology platform is immunoassay and we have a provisional patent filed.
As you can seek from my profile, I run a biotechnology company. Therefore, scientifically speaking I am confident we can develop the test and it will work as we describe. However, the application of the test is outside our business area of expertise. Therefore, I am hoping members of this group could help me better gauge the commercial interest of this technology. Please feel free to contact me with your questions or opinions on the commercial need for the test.
Additional Background Information:
The test would be used to measure potential HFF contamination in environmental water and soil samples and well-water samples. Since the escalation of oil and natural gas exploration, there has been an increase in the number of complaints alleging well-water contamination due to drilling activity (real or imaginary). At present, there are no routine and commercially available laboratory tests to directly measure trace amounts of fracturing fluid in collected water samples. All current testing methods rely on measuring the presence of uranium, radon, strontium, methane and barium in collected water samples. Higher than expected values could be due to drilling activity, but also could be attributed to natural forces. Given there are no or limited historical baseline levels for these surrogate markers, interruption is problematic and subject to bias. Regularly and legislative bodies are therefore hindered in their ability to compose effective guidelines that would strike a balance between the need for energy and public safety. Therefore, having a diagnostic tool that accurately measures the presence of fracturing fluid in collected water samples combined with current tests designed to measure secondary contamination would provide a clearer picture concerning the environmental impact of hydraulic fracturing techniques. As a result, governments and the energy industry would be able to develop improved guidelines to ensure public safety, as well as establish greater public conference of the process.
I'm going to guess that we won't know the results of this for at least a year or two.
If shipping and handling concerns haven't been considered, then MHTX really needs some new leadership.
That's a damn shame. Let's launch a Kickstarter campaign to raise funds to transport it to MDA.
Has the shipment of NanoMRX 2 to MDA been confirmed yet?
Or perhaps American Superconductor (AMSC), for their HTS superconducting wire.
http://www.amsc.com/solutions-products/hts_wire.html
http://www.mskcc.org/blog/work-physicist-joseph-deasy
Check the last two comments. The first one, asking about NanoMRX, received an answer. The second question, which is more direct, did not receive an answer.
Is that because it was posted five months after the article, and therefore no one was monitoring it for new comments, or because they are unable to accurately respond, do to signing an NDA with MHTX?
Maybe they decided, on second thought, that it really needs to be tuned to be yet another 1000x more sensitive, so as to be able to detect even the mere thought of cancer.
I like the sound of that. Maybe HIIT can go international and grab a slice of this $400 billion deal: http://www.usnews.com/opinion/blogs/world-report/2014/05/28/whats-driving-the-china-russia-natural-gas-deal
Agreed. I thought that Gerald Grafe had presence, and came off as knowledgeable, confident, and professional.
But Flynn looked uncomfortable, at best. And Marv gave off a bit of used car salesman vibe.
Crazy idea - a possible non O&G application of AES' water recycling tech.
The Passaic River, one of the most polluted rivers in the US, is due for a massive clean up. See: http://www.nj.com/news/index.ssf/2014/05/feds_mull_how_to_dredge_polluted_passaic_and_where_to_put_contaminated_muck.html#incart_river_default
In a nutshell, the water and riverbed is laced with mercury, dioxins, PCBs, and a whole other stew of toxins which were dumped in the river during NJ's industrial heyday back in the 1940's-70's.
The epic scale of the project aside, are there any technical reason why HIIT's frac wastewater recycling tech could not be used to treat the polluted river water as the contaminated sediment is removed?
Imagine if, for the sake of the river cleanup, they could integrate this system into a large ship, which could siphon up and treat the water as it moved across the river. Crazy expensive, but this cleanup is a government and industry funded operation, which will be worth billions.
http://aeswatersolutions.com/files/2014/04/AES-Recycling-Brochure.pdf
I'm generally wondering if this product can be applied to other industries and water pollution concerns. If so, why not start marketing to a broader audience?
Looking good, looking real good!
For those that have not seen it, here's the presentation: https://www.sec.gov/Archives/edgar/data/1085254/000154812314000216/wordofpowerpoint51914.htm
HII Technologies to Present at the 15th Annual B. Riley & Co. Investor Conference
http://finance.yahoo.com/news/hii-technologies-present-15th-annual-120000670.html
HOUSTON, TX--(Marketwired - May 12, 2014) - HII Technologies, Inc. (HIIT) ("HII Technologies" or the "Company") today announced that the Company will present at the 15th Annual B. Riley & Co. Investor Conference being held May 19 - 21, 2014 at the Loews Hotel in Santa Monica, California. Management is scheduled to present on May 19th at 11:30 AM Pacific Time.
15th Annual B. Riley & Co. Investor Conference
Date:
?May 19, 2014 at 11:30 AM PT
?Location:
?Loews Hotel
Santa Monica, California
?Webcast:
?http://www.brileyconference.com/2014/register/profile.php?ticker=hiit
Conference participation is by invitation only and registration is mandatory. For more information about the 15th Annual B. Riley Co, Investor Conference or to register for the event, please visit the conference link at brileyco.com/conference.
About the 15th Annual B. Riley & Co. Investor Conference
This prestigious three-day, invitation-only annual event brings together a targeted audience of leading institutional investors, financial services professionals and other qualified investors. The conference will feature presentations by over 200 companies in a broad range of sectors, including: technology, consumer, retail, financials and energy. One-on-one meetings with company management teams will be available for investors.
About HII Technologies, Inc.
HII Technologies, Inc. is a Houston, Texas based oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. By focusing on the Water, Power and Safety oilfield segments, the Company is positioned to take advantage of the anticipated, significant growth in horizontal drilling and hydraulic fracturing within the United States' active shale and unconventional "tight oil" plays. The Company's frac water management segment has two subsidiaries, AES Water Solutions and AquaTex, its onsite oilfield contract safety consultancy does business as AES Safety Services, and its mobile oilfield power subsidiary operates as South Texas Power (STP). HII Technologies' objective is to bring proven technologies to these operating divisions to build a long-term competitive advantage. Read more at www.HIITinc.com, www.AESWaterSolutions.com, www.AquaTexUSA.com, www.AESSafetyServices.com and www.Oilfield-Generators.com.
Contact:
Investor Relations
Derek Gradwell
MZ Group
SVP, Natural Resources
Phone: 512-270-6990
Email: dgradwell@mzgroup.us
Web: www.mzgroup.us
Good catch. How can a company have negative operating expenses?
Nanoparticles cause cancer cells to self-destruct
Any relation to Senior Scientific's SQUID, or is this a competing tech?
http://www.eurekalert.org/pub_releases/2014-04/lu-ncc040314.php
I'm fine with that, too, depending on your definition of soon
I do hope we see a spike to $1 sooner rather than later, and HIIT begins to get the attention it deserves.
Growth is good. Growth + profit is even better.
Good times. I'm predicting they turn a profit in the next quarter or two.
Fair point. Industry standards take time to change course, like steering an aircraft carrier. BUT, I thought that since CRS stepped up so quickly, that they had in effect 'broken the ice', and that others would soon follow.
Any idea why, since the Ti deal with CRS, we haven't seen similar deals with other companies for other metals, Al, for example?
It just seems odd that the deal with CRS happened so quickly after MHTX acquired the Los Alamos license, yet five years later, we haven't seen anything else come of it.
He sure keeps things, um, interesting, LOL.
Sounds good to me.
The potential is there, but they still have to get the execution right.
I appreciate your detective work, Rusty. But, I also appreciate ssc's skepticism and the balance which he provides. Both perspectives are incredibly important.
Sounds like a plan, I'm in.
LOL, isn't it about time for your IHOP Senior Discount breakfast?
Agreed, it does seem way too cheap here, given the potential. I think folks heard "lawsuit, Lonza" and crapped their pants.