Financials
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CONSOLIDATED BALANCE SHEETS (USD $)
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Mar. 31, 2015
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Dec. 31, 2014
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|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 1,069,524us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 1,330,507us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Restricted cash | 1,886,887us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue | 1,666,652us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue |
| Accounts receivable, net of allowance of $517,224 and $291,672 | 9,789,147us-gaap_AccountsReceivableNetCurrent | 10,529,742us-gaap_AccountsReceivableNetCurrent |
| Note receivable | 290,000us-gaap_NotesAndLoansReceivableNetCurrent | 290,000us-gaap_NotesAndLoansReceivableNetCurrent |
| Current portion of deferred financing costs | 50,850us-gaap_DeferredFinanceCostsCurrentNet | 50,850us-gaap_DeferredFinanceCostsCurrentNet |
| Prepaid expense and other current assets | 258,348us-gaap_PrepaidExpenseAndOtherAssetsCurrent | 168,916us-gaap_PrepaidExpenseAndOtherAssetsCurrent |
| Total current assets | 13,344,756us-gaap_AssetsCurrent | 14,036,667us-gaap_AssetsCurrent |
| Property and equipment, net of accumulated depreciation of $1,640,100 and $1,100,274 | 8,291,079us-gaap_PropertyPlantAndEquipmentNet | 8,909,483us-gaap_PropertyPlantAndEquipmentNet |
| Assets under capital lease, net | 4,442,756us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet | 4,673,166us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet |
| Deposits | 259,963us-gaap_DepositsAssetsNoncurrent | 257,723us-gaap_DepositsAssetsNoncurrent |
| Deferred financing costs, net of current portion | 47,390us-gaap_DeferredFinanceCostsNoncurrentNet | 60,103us-gaap_DeferredFinanceCostsNoncurrentNet |
| Intangible assets, net of accumulated amortization and impairment of $2,651,704 and $2,642,454 | 325,296us-gaap_IntangibleAssetsNetExcludingGoodwill | 334,546us-gaap_IntangibleAssetsNetExcludingGoodwill |
| Deferred tax asset | 5,639,233us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent | 5,639,233us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent |
| Goodwill | 4,675,820us-gaap_Goodwill | 4,675,820us-gaap_Goodwill |
| Total assets | 37,026,293us-gaap_Assets | 38,586,741us-gaap_Assets |
| Current liabilities: | ||
| Accounts payable | 5,932,445us-gaap_AccountsPayableCurrent | 4,357,868us-gaap_AccountsPayableCurrent |
| Accounts payable and other liabilities, related parties | 2,611,871us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent | 2,611,871us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent |
| Accrued expenses and other liabilities | 1,727,539us-gaap_AccruedLiabilitiesCurrent | 1,692,121us-gaap_AccruedLiabilitiesCurrent |
| Secured borrowings | 6,550,051us-gaap_SecuredDebtCurrent | 6,131,917us-gaap_SecuredDebtCurrent |
| Current portion of capital lease obligation | 1,758,320us-gaap_CapitalLeaseObligationsCurrent | 1,637,296us-gaap_CapitalLeaseObligationsCurrent |
| Current portion of notes payable - related parties | 515,000us-gaap_NotesPayableRelatedPartiesClassifiedCurrent | 515,000us-gaap_NotesPayableRelatedPartiesClassifiedCurrent |
| Current portion of secured notes payable | 1,298,920us-gaap_NotesPayableCurrent | 11,847,676us-gaap_NotesPayableCurrent |
| Total current liabilities | 20,394,146us-gaap_LiabilitiesCurrent | 28,793,749us-gaap_LiabilitiesCurrent |
| Long term liabilities: | ||
| Capital lease obligation, net of current portion | 1,817,621us-gaap_CapitalLeaseObligationsNoncurrent | 2,306,972us-gaap_CapitalLeaseObligationsNoncurrent |
| Notes payable - secured, net of current portion | 10,262,856hiit_LongTermNotesPayableSecured | 73,856hiit_LongTermNotesPayableSecured |
| Notes payable - related parties net of current portion | 70,958us-gaap_NotesPayableRelatedPartiesNoncurrent | 70,958us-gaap_NotesPayableRelatedPartiesNoncurrent |
| Total liabilities | 32,545,581us-gaap_Liabilities | 31,245,535us-gaap_Liabilities |
| Commitments and contingencies | ||
| Stockholders' equity | ||
| Preferred stock, $.001 par value, 10,000,000 shares authorized, Series A Convertible Preferred stock, $1,000 stated value, 4,000 shares authorized, 2,890 and 3,750 shares issued and outstanding | 2,203,883us-gaap_PreferredStockValue | 2,848,093us-gaap_PreferredStockValue |
| Common stock, $.001 par value, 250,000,000 shares authorized, 57,232,436 and 55,644,711 shares issued and outstanding | 57,231us-gaap_CommonStockValue | 55,644us-gaap_CommonStockValue |
| Additional paid-in-capital | 35,130,210us-gaap_AdditionalPaidInCapital | 34,217,479us-gaap_AdditionalPaidInCapital |
| Accumulated deficit | (32,910,612)us-gaap_RetainedEarningsAccumulatedDeficit | (29,780,010)us-gaap_RetainedEarningsAccumulatedDeficit |
| Total stockholders' equity | 4,480,712us-gaap_StockholdersEquity | 7,341,206us-gaap_StockholdersEquity |
| Total liabilities and stockholders' equity | $ 37,026,293us-gaap_LiabilitiesAndStockholdersEquity | $ 38,586,741us-gaap_LiabilitiesAndStockholdersEquity |
| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. No definition available.
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| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of capital lease obligation due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total gross amount less the charge for the use of the long-lived depreciable assets subject to a lease meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net amount of current deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net amount of long-term deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Details
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| X | ||||||||||
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- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money within one year from the balance sheet date (or the normal operating cycle, whichever is longer), net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount for notes payable (written promise to pay), due to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount for notes payable (written promise to pay), payable to related parties, which are due after one year (or one business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of the portion of long-term, collateralized debt obligations due within one year or the operating cycle, if longer. Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
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3 Months Ended | |
|---|---|---|
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Mar. 31, 2015
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Mar. 31, 2014
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| CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract] | ||
| REVENUES | $ 8,503,232us-gaap_Revenues | $ 7,505,061us-gaap_Revenues |
| COST OF REVENUES | 8,047,857us-gaap_CostOfRevenue | 5,464,794us-gaap_CostOfRevenue |
| GROSS PROFIT | 455,375us-gaap_GrossProfit | 2,040,267us-gaap_GrossProfit |
| OPERATING EXPENSES: | ||
| Selling, general and administrative | 2,414,558us-gaap_SellingGeneralAndAdministrativeExpense | 1,905,504us-gaap_SellingGeneralAndAdministrativeExpense |
| Bad debt expense | 289,553us-gaap_ProvisionForDoubtfulAccounts | |
| Total operating expenses | 2,704,111us-gaap_OperatingExpenses | 1,905,504us-gaap_OperatingExpenses |
| INCOME (LOSS) FROM OPERATIONS | (2,248,736)us-gaap_OperatingIncomeLoss | 134,763us-gaap_OperatingIncomeLoss |
| OTHER EXPENSE | ||
| Interest expense, net | (778,545)us-gaap_InterestExpense | (139,810)us-gaap_InterestExpense |
| NET LOSS BEFORE INCOME TAXES | (3,027,281)us-gaap_IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet | (5,047)us-gaap_IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet |
| PROVISION FOR INCOME TAXES | ||
| Current | (103,321)us-gaap_CurrentIncomeTaxExpenseBenefit | (19,804)us-gaap_CurrentIncomeTaxExpenseBenefit |
| NET LOSS | (3,130,602)us-gaap_NetIncomeLoss | (24,851)us-gaap_NetIncomeLoss |
| CUMULATIVE DIVIDEND | (72,250)us-gaap_Dividends | |
| NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS | $ (3,202,852)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic | $ (24,851)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic |
| BASIC AND DILUTED EARNINGS PER COMMON SHARE | ||
| Basic net income (loss) per share | $ (0.06)us-gaap_EarningsPerShareBasicAndDiluted | $ 0.00us-gaap_EarningsPerShareBasicAndDiluted |
| Weighted average shares outstanding-Basic and Diluted | 56,492,134us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted | 44,558,106us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted |
| X | ||||||||||
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- Definition
The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations (before interest income and interest expense) attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before interest income, interest expense, income taxes, extraordinary items, and noncontrolling interest. No definition available.
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Details
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
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3 Months Ended | |
|---|---|---|
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Mar. 31, 2015
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Mar. 31, 2014
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| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | $ (3,130,602)us-gaap_NetIncomeLoss | $ (24,851)us-gaap_NetIncomeLoss |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Amortization of deferred finance costs | 12,712us-gaap_AmortizationOfFinancingCosts | 18,859us-gaap_AmortizationOfFinancingCosts |
| Stock-based compensation | 270,108us-gaap_ShareBasedCompensation | 54,440us-gaap_ShareBasedCompensation |
| Depreciation and amortization | 780,589us-gaap_DepreciationDepletionAndAmortization | 123,580us-gaap_DepreciationDepletionAndAmortization |
| Bad debt expense | 289,553us-gaap_ProvisionForDoubtfulAccounts | |
| (Gain) loss on asset sale | (17,140)us-gaap_GainLossOnDispositionOfAssets1 | 8,275us-gaap_GainLossOnDispositionOfAssets1 |
| Changes in: | ||
| Accounts receivable | 451,042us-gaap_IncreaseDecreaseInAccountsReceivable | (2,785,573)us-gaap_IncreaseDecreaseInAccountsReceivable |
| Prepaid expense and other current assets | (76,394)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | (48,857)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Other assets | (2,240)us-gaap_IncreaseDecreaseInOtherOperatingAssets | |
| Accounts payable | 1,942,327us-gaap_IncreaseDecreaseInAccountsPayable | 1,214,754us-gaap_IncreaseDecreaseInAccountsPayable |
| Accounts payable and other liabilities - related parties | 75,000us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties | |
| Accrued expenses and other liabilities | 35,417us-gaap_IncreaseDecreaseInAccruedLiabilities | 684,210us-gaap_IncreaseDecreaseInAccruedLiabilities |
| Net cash provided by (used in) operating activities | 555,372us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | (680,163)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Cash received from the sale of property and equipment | 11,000us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment | |
| Cash paid for purchase of property and equipment | (297,173)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (1,086,222)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Net cash used in investing activities | (286,173)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (1,086,222)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from exercise of warrants and options | 12,500hiit_ProceedsFromWarrantsAndStockOptionsExercised | |
| Payments for deferred financing costs | (4,167)us-gaap_PaymentsOfFinancingCosts | |
| Proceeds from notes payable | 130,000us-gaap_ProceedsFromNotesPayable | |
| Proceeds from line of credit, net | 1,009,142us-gaap_ProceedsFromLinesOfCredit | |
| Proceeds from secured borrowings, net | 197,900us-gaap_ProceedsFromRepaymentsOfSecuredDebt | |
| Payments on notes payable | (359,756)us-gaap_RepaymentsOfNotesPayable | (190,378)us-gaap_RepaymentsOfNotesPayable |
| Payments on capital lease obligation | (368,326)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations | |
| Net cash provided by (used in) financing activities | (530,182)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 957,097us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (260,983)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (809,288)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| CASH AND CASH EQUIVALENTS, beginning of period | 1,330,507us-gaap_CashAndCashEquivalentsAtCarryingValue | 866,035us-gaap_CashAndCashEquivalentsAtCarryingValue |
| CASH AND CASH EQUIVALENTS, end of period | 1,069,524us-gaap_CashAndCashEquivalentsAtCarryingValue | 56,747us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Supplemental disclosures: | ||
| Cash paid for income taxes | 54,687us-gaap_IncomeTaxesPaid | |
| Cash paid for interest | 689,288us-gaap_InterestPaid | 115,634us-gaap_InterestPaid |
| Noncash investing and financing activities | ||
| Notes issued in consideration for property and equipment | 117,120us-gaap_NotesIssued1 | |
| Notes issued in consideration for intangible assets | 370,000hiit_NotesIssued2 | |
| Cashless exercise of warrants | 359hiit_WarrantsExercisedDebtReduction | 117hiit_WarrantsExercisedDebtReduction |
| Restricted cash reserve account paid directly from secured borrowings | 220,234hiit_NoncashRepaymentsOfRestrictedCashReserveUsingProceedsFromSecuredBorrowingsAndNotesPayable | |
| Common shares issued for conversion of Preferred Series A shares | 644,210us-gaap_StockIssued1 | |
| Equipment sold through sale-leaseback | $ 367,748hiit_EquipmentSoldThroughSaleLeaseback | |
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- Definition
Amount of equipment sold through sale-leaseback in noncash investing and financing activities. No definition available.
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- Definition
The amount on the restricted cash reserve account that is paid during the period by using proceeds directly from secured borrowings and notes payable. No definition available.
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- Definition
The fair value of notes issued for intangible assets in noncash investing and financing activities. No definition available.
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from holders exercising their stock warrants or options. No definition available.
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- Definition
Warrants exercised for the reduction of debt. No definition available.
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- Details
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- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the obligations due for goods and services provided by the following types of related parties: a parent company and its subsidiaries, subsidiaries of a common parent, an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management, an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The fair value of notes issued in noncash investing and financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from long-term debt wholly or partially secured by collateral. Excludes tax exempt secured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for the obligation for a lease meeting the criteria for capitalization (with maturities exceeding one year or beyond the operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The fair value of stock issued in noncash financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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