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If any stock holders are interested we are joining a case against Heartland Bank for fraud. Please email me your name and contact information at 2013shad@gmail.com
The case surrounds Heartlands fraud on Hii that forced the bankruptcy.
Is anyone interested in filing a lawsuit? I am thinking about initiating one just for discovery purposes. I want to know what really happened.
So now the CEO MATT is a criminal?
Does the buck not stop at the top? Did he not hire Acie? And the old saying, "Birds of a feather, flock together" comes to mind.
He is at fault. He should admit it, and step down.
Well let's get the facts and take him to the SEC, and file a civil suit. Send that SOB to jail. The bank will get on board real quick.
Funny. I heard it was both the CEO and the CFO. I have been saying they were snakes for months. Now, after a compete collapse people are starting to wake up.
Matt is still on payroll, means the ship is still sinking.
You are wrong. The can be busy. They are not getting the price they were before. You are near sighted; don't you talk to Matt everyday? At least you act like you do.
From what I have heard Brent does not have an ego. However, Matt does. Brent also does not put up with much crap. Matt will probably not make it 3 months.
When you spot a cancerous tumor, you cut it out. Matt is cancer and infects everything he touches. I would cut him out.
I don't think those two will be very good at getting money from a bank. Matt is not Donald Trump. He can't continue to lose money and have banks continue to "loan" him more. Give the company back to the guys in the field. They were running fine before Matt touched anything. I am sure they can do it again.
Time to cut people and overhead. Matt gone. Acie gone. Everyone in the office, gone. Office space gone. Rent a office in Midland for cheap and run it from there.
I said it before I will say it now. Matt is not able to lead a company. Nothing he has touched has lived.
Correct. Their people are what make the company. The CEO thinks he makes the company. He is one of the biggest reasons HIIT is in the position it is in.
Most of their hard assets are worthless on the market. Maybe 10 cents on the dollar, maybe. Their license agreements and MSAs are valuable. However, those will have escape clauses for anyone who gets them.
I agree, it is bad. But I have faith. We need 6 months to a year and things will turn around in the market.
The bank is not going to cause bankruptcy. The assets are junk on the market right now. They are having to exercise their rights or waive them. They cannot waive them because of due diligence owed to the bank shareholders. HIIT will survive if they can get cash flow. Hopefully HIIT gets bought and shares converted.
Difference here is that Israel is teaming up with Saudi, Qatar, Egypt, and probably Jordan (I think, I do not know all of the politics of the Middle East). They will move slow, but all band together and move with force. Interesting teammates for sure. It could actually lead to Peace in the Middle East by forming a working relationship with all of the different countries. Thanks, Obama.
I agree. Israel & Suadi will team up and take out Iran within 6 months. Oil will sky rocket because of the shipping issue! Things will turn around quick, fast, and in a hurry. Through Russia or China in the game and things will get silly.
We will not be slammed with work because of the LNG exports. It will make things stable. There is a glut of natural gas because it is in EVERY SINGLE WELL drilled, most of it not being captured currently.
HIIT does mostly oil work because no one is drilling for natural gas. The price of natural gas is $2.50. Can't turn a profit on a new well at those prices.
Don't get me wrong the LNG export is a great thing and will help. It is not a white knight.
My take is that things will be okay. It looks like HIIT is consolidating in the Permian. It seems like all of the eggs are in one basket but, the Permian is maintaining rig count while Eagleford is dropping.
The outliner in the equations is the LNG exports. If they start to take off in late 2017 and gas prices increase the Barnett shale will increase along with the Eagleford.
Well it seems like you have big pockets. Why don't you payoff the bank and take over the loan? Then we would not have any problems.
Really? How about not having to get releases from the bank is that chicken shit? I bet the stock would not have tanked if they did not have to release a statement saying HIIT could not meet its debt service agreements.
You whole head must be brown.
Since, it sounds like, you talk to Matt on the daily, can you tell him he should drop his salary? If Matt, Billy, and Brent drop their salaries to $100k/each the remaining $500k could go directly to pay debt.
With this kind of volume something is happening that we do not know. It would be interesting to see who the buyers of the largest chunks of stock are.
That is highway robbery. Everything he touches turns to dust.
I voted it down along with the 500,000 shares I have. A 20 - 1 reverse split is insane. If they would have asked for 5-1, maybe I would have agreed.
You are not listening or cannot understand. They can drop Hiit specific news in a news article related to the oilfield economy. Most news articles in business journals are inspired by calls from companies.
If MZ group was earning their pay they would be advising Hiit.
They don't have to do a conference call or press release to get information out.
They could easily release it to a oilfield related news article, if they were thinking. Houston news is all over the layoffs and market conditions. They would jump at the chance to have a quote.
Nobody said anything about a conference call. There are ways to publish things without a press release as well. Make a call to a Business Journal for one. Publish something in a blog post, or the inactive Facebook account. Whomever does the marketing on the social media accounts should be fired.
I have never danced with the leadership. I trust the guys in the field. They have never seen this guy. CEOs at the top companies started in the field. They remember how to turn a wrench.
There is a reason poor communication from Management. You have to communicate with your investors and telegraph things. Such as breaking down all of the SEC required forms to layman terms, getting ahead of bad news with explanations, etc. Matt is not up to that task, mainly because you have to understand something before you can communicate it. He does not understand. We need new leadership and we need it yesterday. Matt should know he is in over his head and step aside. If he really wants to increase value for his shareholders he will move over.
That might make since if Hiit was issuing shares left and right. Or if there were a 500 million shares in the market. Neither of those factors are relevant here. There are only 60 (some odd) million shares and they are not issuing shares left and right. There is not any manipulation happening with Hiit.
This board has gotten quiet.
Ok, if $9,000 is petty for you. How about $9,000 times 9? Or $9,000 times 15? Because I only know of one person with a vehicle allowance. How many non C-level employees have a vehicle allowance?
Watch your pennies and you will know where your dollars are.
I was champing this over a month ago. I wanted the vehicle allowance for office personnel cut. However, I remember WindowShopper and Stlogic disagreeing with my logic. Funny how the times change so fast.
I don't agree with stopping the trade shows and marketing trips. Those have added value. Staying at high priced hotels and vehicle allowances have added nothing except expenses.
Vote no for Matt and let them put a leader in the CEO spot.
Or it is time for Matt to hit the road. Anyone can "run" a company during the easy times. He does not have what it takes and he has proven that several times over. Time to let him lead from behind, Way behind, like from his house looking for a job, behind.
People buying and selling. No manipulation. If I want to buy 3,000 shares and someone wants to sell them. They offer at .39/share and I buy then the stock price ".39." If I want to buy 3,000 shares and 2,000 are offered at .39/share and 1,000 are offered at .45/share and buy all of them then the stock price is presumed to be .45/share. It is just called buying and selling. You know like an auction.
Very interesting article. It sheds light on what many in the industry know already; it takes huge capital investments and a long time to bring oil to the market. XOM is the only major that consistently makes a 10% return on its production investments. Most companies while making $2-3 billion per quarter are spending in excess of $50 billion per quarter.
Land conventional wells and unconventional wells are not as prolific and generally, their life span is shorter than offshore. I predict a wild ride for the next couple of years then returning steadily to $100+/bbl. The unconventional wells are quick to market and quick to decline. 2,000bbl/day for the top wells down to 300bbl/day in less than 18 months in most cases.
If the bank wants to get paid and make more money in loans, they should release a statement. It should say they have restructured the loan and have given a emergency line of credit to Hiit if they should need it. This is to show the banks honest belief in Hiit. Hiit then should release a preliminary earning report monthly to ease investors concerns. It will boost confidence and raise volume. Plus, if they are planning on the reverse they need to stabilize the price close to $.75/share to make it worth while.
I don't even want to pay for roller skates for non-operations administrative staff. I only need 2 million more shares and then I will have the shares needed to vote force the board of directors' hand on the issue.
I have a question...have they cut fringe benefits to protect the share holders and low level employees? From the looks of it the first quarter is going to be low means the stock price will get slammed again. I hope that vehicle allowance gets Acie to work on time so he can look at the books. Those books will be easy to keep if Hiit does not have much revenue coming in. I bet he could use Quicken for the Home.