Box Ships Inc (TEUFF)

[Toxic Avenger]

The only thing that doesn't make sense is people still buying this at any price. They're insolvent and accruing debts at $500k/quarter on the preferred shares that they have no hope of paying off.

Apparently a few people didn't understand that when they wrote off their debt, it was because they had nothing left. The filing confirmed that they are broke, even if they get the $2.4 million they're owed by a "related party".

Their forward plans ore to hope someone will give them a toxic loan so they can keep stay in business even with massive dilution. It's probably best that they don't shout that too loud.