Box Ships Inc (TEUFF)

[munhoi]

here is an excerpt of a reply to Mr. Chu from the Box Ships Board of Directors back during February of 2017:

the question remains if there was a debt burden that was released who owes on that debt burden now - ie the CEO affiliate, or was the burden settled and CEO took ownership of the 2 ships free of any debts for him making him and his affiliates the benefactors or was the debt assumed if any far less then the market value of the ships ?????


here is the excerpt - because of the lack of transparency I am not so sure that there was any significant debt burden assumed by the CEO if any????

You can see that they keep saying we are their Top Priority then attempted that insane reverse split proposal in annual shareholders meeting - meaning its just legal jargon told by their outside counsel to protect themselves from lawsuits - so its not beyond comprehension they stole those two ships from common shareholders for very little if no debt assumptions???




The following is a reply from the Board of Directors:


Dear Mr Chu,



We would like to thank you for your messages all of which have been reviewed and taken under consideration by the Company’s Board of Directors and management.


Please be advised that only 2 (Box Trader and Box Voyager) of the 5 vessels mentioned in your last message used to be owned by the Company and those two vessels were sold only in return for forgiving a huge debt burden, thus benefiting the Company.


Please rest assured that protecting the interests of the shareholders has always been and will continue to be a top priority for the Company’s Board of Directors and management.


Best Regards,


Board of Directors of Box Ships Inc.