Box Ships Inc (TEUFF)

[powerbattles]

CONGRATS TO ALL! TEUFF---CELEBRATE RECOVERY---TEUFF IS NOW DEBT FREE. ABSOLUTELY NO MORE DEBT.

MAKE NO MISTAKE: TEUFF PAID IN FULL AND SATISFACTION OF ALL THE AMOUNT DUE.

On June 16, 2016 The Company has entered into an indicative term sheet signing of definitive documentation, with ABN AMRO Bank.

$31.65 Million – Secured Term Loan Facility

$100 Million – Syndicated Secured Term Loan Facility (the "Facility")

Click on link below to view full details Box Ships Inc. Announces Recent Developments On Its Debt Agreements
http://www.prnewswire.com/news-releases/box-ships-inc-announces-recent-developments-on-its-debt-agreements-300285744.html

$31.65 Million – Secured Term Loan Facility of all amount due and outstanding under the $30,000,000 facility in exchange for the net sale proceeds of the mortgaged vessel, namely Box Queen. Delivered to its new owner on October 31, 2016.

$100 Million – Syndicated Secured Term Loan Facility (the "Facility")

Full details link below.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11694216

The 6-k announce today indicated the final satisfaction of all amounts due and outstanding by the Company under the $100,000,000 Syndicated Secured Term Loan Facility (the “Facility”).

Agreement, the Company agreed to transfer ownership of the vessels Maule, Box Voyager and Box Trader.

TEUFF NOW HAVE TWO SHIPS REMAINED AND ABSOLUTE DEBT FREE.

purchase price of $1.50 (the “Sale”). Pursuant to the Amendment Agreement, all of the assets and liabilities of the Subsidiaries were assigned to and assumed by the new entities and the Company was fully released. The Sale was approved by a Special Committee consisting of the Company’s four independent directors. The Special Committee determined that the proposed purchase price represents fair market value for the assets and liabilities transferred to the new entities, based on vessel valuations and an independent fairness opinion.

The above is indicated the vessel valuations fairness purchase price is $1.50 This is base on 3 ships that will generate approximately $6,000 per day in revenue for a total run-rate of 6.57 Million per year. Under this scenario, the common share should go from 0.01 to 0.06 at a 1X revenue valuation and the preferred share will go from $1.65 to 25 (Par Value)

TEUFF STILL HAVE 2 SHIPS AND IF DAILY RATES RECOVER 10,000 PER DAY THEY WILL BE PROFITS AGAIN AND THE VALUE OF THE PPS SHOULD INCREASING DUE TO NO MORE DEBT.

I AM BUYING MORE. ABSOLUTELY NO FEAR ON MY END.