Industrial Enterprises of America, Inc. 3
3 · Industrial Enterprises of America, Inc. · Filed Mar 12, 2013
Insider Transaction Report
Form 3
Holdings
- 808,382
Common Stock
- 0(indirect: By LLC)
Common Stock
Footnotes (1)
- [F1]On February 20, 2013, Hapfus, LLC (the "LLC"), a company of which the reporting person is a manager and a member, entered into a stock purchase agreement (the "Stock Purchase Agreement") with Beryl Zyskind (the "Seller"), pursuant to which the LLC agreed to purchase 105,500,281 shares (the "Shares") of common stock of Industrial Enterprises of America, Inc. (the "Issuer"), subject to the satisfaction of certain closing conditions. Pursuant to the Stock Purchase Agreement, on March 3, 2013, the Seller granted to the LLC an irrevocable proxy to vote the Shares for all purposes. The reporting person is filing this Form 3 because it may have acquired beneficial ownership of more than ten percent of the common stock of the Issuer as a result of the LLC receiving the proxy over the Shares. Until the closing of the transactions contemplated by the Stock Purchase Agreement, neither the LLC nor the reporting person will acquire a pecuniary interest in any of the Shares.