Attached files
| file | filename |
|---|---|
| EX-10 - GUARANTEE - HII Technologies, Inc. | apachecgofhii.htm |
| EX-10 - GENERAL SECURITY AGREEMENT - HII Technologies, Inc. | kmhvcgsaofhii3.htm |
| EX-10 - EQUIPMENT SECURITY AGREEMENT - HII Technologies, Inc. | apachekmhvcmesecyagmt4.htm |
| EX-10 - FINANCING AGREEMENT - HII Technologies, Inc. | apachekmhvcfinancingagmt7.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
June 26, 2013
Date of Report (Date of earliest event reported)
_____________________________
HII Technologies, Inc.
_______________________________________________________________________________
(Exact name of registrant as specified in its charter)
| Delaware | 0-30291 | 03-045386 |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
710 N. Post Oak Road, Suite 400, Houston, Texas
77024
_______________________________________________________________________________
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code:(713) 821-3157
_______________________________________________________________________________
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR240.14a-12)
[] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Section 1 – Registrant’s Business and Operations
Item 1.01
Entry into a Material Definitive Agreement.
On June 26, 2013, our wholly-owned subsidiaries, KMHVC, Inc. and Apache Energy Services, LLC (the “Borrower”) entered into a $2 million revolving accounts receivable financing facility with Rosenthal & Rosenthal. The financing facility provides for the Borrower to have access to the lesser of (i) $2 million or (ii) 85% of Net Amount of Eligible Receivables (as defined in the financing agreement). The financing facility is paid for by the assignment of the Borrower’s accounts receivable to Rosenthal and is secured by the Borrower’s assets. The financing facility has an interest rate of 4.00% in excess of the prime rate reported by the Wall Street Journal per annum. In addition, the Borrower paid Rosenthal a facility fee of $30,000 on the closing and an annual fee of $20,000 and a monthly administration fee of $1,000 as well as monthly additional charges of not less than $2,000. The financing facility is for an initial term of two-years and will renew on a year to year basis, unless terminated in accordance with the financing agreement. If the facility is terminated prior to the first anniversary, Borrower is obligated to pay Rosenthal a fee of $40,000 and if terminated after the first anniversary and prior to the second anniversary then Borrower shall pay a fee of $20,000. We guaranteed repayment of the line of credit, which guaranty is secured by our assets.
Section 9 – Financial Statements and Exhibits
Item 9.01
Financial Statements and Exhibits.
(c)
Exhibits.
Exhibit
Number
Description
10.1
Financing Agreement
10.2
Equipment Security Agreement
10.3
Guarantee
10.4
General Security Agreement
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HII Technologies, Inc.
(Registrant)
Date: July 1, 2013
By: /s/ Matthew C. Flemming
Matthew C. Flemming,President
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