Initial Statement of Beneficial Ownership (3)
March 12 2013 - 10:44AM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0104
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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Segundo Ernest C Jr
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2. Date of Event Requiring Statement (MM/DD/YYYY)
3/3/2013
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3. Issuer Name
and
Ticker or Trading Symbol
Industrial Enterprises of America, Inc. [IEAM]
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(Last)
(First)
(Middle)
2808 58TH STREET SOUTH
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4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director
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X
___ 10% Owner
_____ Officer (give title below)
_____ Other (specify below)
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(Street)
GULFPORT, FL 33707
(City)
(State)
(Zip)
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5. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security
(Instr. 4)
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2. Amount of Securities Beneficially Owned
(Instr. 4)
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3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
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4. Nature of Indirect Beneficial Ownership
(Instr. 5)
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Common Stock
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706650
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D
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Common Stock
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808382
(1)
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I
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By Segundo Irrevocable Trust dated 12/18/1992
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Common Stock
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0
(2)
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I
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By Hapfus, LLC
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 4)
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2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
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3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
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4. Conversion or Exercise Price of Derivative Security
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5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
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6. Nature of Indirect Beneficial Ownership
(Instr. 5)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Explanation of Responses:
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(
1)
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The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
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(
2)
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On February 20, 2013, Hapfus, LLC (the "LLC"), a company of which the reporting person is a manager, 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 he 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.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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Segundo Ernest C Jr
2808 58TH STREET SOUTH
GULFPORT, FL 33707
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X
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Signatures
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/s/ Ernest C. Segundo, Jr.
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3/12/2013
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 5(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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Industrial Enterprises o... (CE) (USOTC:IEAM)
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