Box Ships Inc (TEUFF)

[munhoi]

I am sure in-order to create a clean balance sheet and get rid of debt from creditors and banks, they had to give the creditors debtors no choice in order to relieve all debts

then give the company a chance to restart again fresh - since I am a common shareholder ie common are the owners of the company - as long as it benefits my chance for recovery - I am not against it if it benefits my chance for recovery of my common shares

since CEO runs both Paragon and BOX I am pretty sure when I find the answer for the ships for BOX - they are probably unloading the new ships to other buyers so they don't have to pay the full price and get it at market later

BOX has to do what they have to do to survive - and if that ultimately benefits me as common shareholders - I cant fault them in order to give the ownership back in hands of common vs debtors and other equity holders


my View only of course - I didn't buy the preferred because I was skeptical of the recovery chances on preferred at a decent price - gambled on recovery chances of common

will wait to see how it will work out - hard to say - as there are pluses with no debt and recovery of shipping starting but share price slammed so low already that the recovery rate wont be as big as most will wish for in all probability - it all depends - this is like unchartered territory - I'm just using educated estimations at this point