HII Technologies Inc (OTCMKTS:HIIT) Suffers A Serious Blow

[[tagnumber 0]][[tagnumber 1]]HII Technologies Inc (OTCMKTS:HIIT)’s stock rarely receives much attention. It has been slowly sliding down the charts for most of the year and it didn’t seem like we can expect a lot of action from the ticker.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The start of yesterday’s session also didn’t suggest that we will be seeing much. Around noon, however, [[tagnumber 6]]HIIT[[tagnumber 7]] plunged below the 10 cent per share mark and we saw some heavy trading. Having hit a low of $0.07 per share the ticker managed to recover and finished the session with a loss of around 30.56% at $0.20 on the biggest volume it has seen since August last year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]There wasn’t any obvious reason for the plummet. No new press releases, no paid promotions. The latest news from the company were from last Wednesday when [[tagnumber 6]]HIIT[[tagnumber 7]] posted their Q1 report which contained the following numbers of prime interest in its balance sheet.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 17]] [[tagnumber 18]]cash: $1 million[[tagnumber 19]] [[tagnumber 18]]current assets: $13.34 million[[tagnumber 19]] [[tagnumber 18]]current liabilities: $20.39 million[[tagnumber 19]] [[tagnumber 18]]total liabilities: $32.54 million[[tagnumber 19]] [[tagnumber 18]]quarterly revenues: $8.5 million[[tagnumber 19]] [[tagnumber 18]]quarterly net loss: $3.13 million[[tagnumber 19]] [[tagnumber 30]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]And although [[tagnumber 6]]HIIT[[tagnumber 7]] has a decent amount of cash on hand and impressive quarterly revenues for an OTC company we can’t go past the massive liabilities. That, however, doesn’t seem to be the reason for yesterday’s performance, as the market had enough time to react last week.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session has started much better and after an open at $0.21 we see [[tagnumber 6]]HIIT[[tagnumber 7]] sitting at $0.25 as of the writing of this article. We are quite sure that the people who got their shares when the stock hit its low yesterday are very happy with their investment.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Considering the fact that [[tagnumber 6]]HIIT[[tagnumber 7]] is moving for no apparent reason, however, is troubling and you should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]