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HII Technologies Plan Confirmed

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The U.S. Bankruptcy Court approved HII Technologies’ Third Amended Chapter 11 Plan of Reorganization. According to documents filed with the Court, “On the Effective Date, Reorganized HIIT shall (i) issue to the Litigation Trustee warrants for 50,000 shares equal to a non-dilutable five percent (5%) of New HIIT Common Stock, which shares shall be distributable to the holders of Allowed Claims in Class 4 in accordance with the terms of Section 4.5 of the Plan; and (ii) issue 950,000 shares of convertible participating and voting preferred stock with a dividend that will be specified in reliance upon section 1145(a) of the Bankruptcy Code, the offer and/or issuance of the New HIIT Common Stock and New HIIT Preferred Convertible Stock by Reorganized HIIT is exempt from registration under the Securities Act of 1933, as amended (the ‘Securities Act’), and any equivalent securities law provisions under state law….Upon entry of this order of the SEC, HII Technologies will have no further obligation to file reports with the SEC, including past due reports and there will be no further trading in the common stock of HII Technologies… On the Effective Date, each respective Equity Interest of HII Technologies in Debtors Apache Energy Services, Aqua Handling of Texas, Sage Power Solutions, and Hamilton Investment Group shall be unaffected by the Plan, in which case Reorganized HIIT shall continue to hold such Equity Interests.” The Court also approved on a final basis, HII Technologies’ Second Amended Disclosure Statement.

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