SEC Info - Segundo Ernest C Jr. - ‘3’ for 3/3/13 re: Industrial Enterprises of America, Inc.

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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^*

Segundo Ernest C Jr

(Last)

(First)

(Middle)

2808 58TH STREET SOUTH

(Street)

GULFPORT

33707

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
3/3/13

3. Issuer Name and Ticker or Trading Symbol
Industrial Enterprises of America, Inc. [ IEAM ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	706,650	D
Common Stock	808,382 ⁽¹⁾	I	By Segundo Irrevocable Trust dated 12/18/92
Common Stock	0 ⁽²⁾	I	By Hapfus, LLC

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

(1) 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.

(2) 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.

	/s/ Ernest C. Segundo, Jr.	3/12/13
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.

Segundo Ernest C Jr. – ‘3’ for 3/3/13 re: Industrial Enterprises of America, Inc.

On: Tuesday, 3/12/13, at 10:43am ET · For: 3/3/13 · As: 10% Owner · Accession #: 1181431-13-16202 · File #: 1-32881

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Segundo Ernest C Jr. – ‘3’ for 3/3/13 re: Industrial Enterprises of America, Inc.

On: Tuesday, 3/12/13, at 10:43am ET · For: 3/3/13 · As: 10% Owner · Accession #: 1181431-13-16202 · File #: 1-32881

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34Filing Table of Contents

This ‘3’ Document is an XML Data File that may be rendered in various formats:

Initial Statement of Beneficial Ownership of Securities by an Insider — Form 3 — SEA’34
Filing Table of Contents