Box Ships Inc (TEUFF)

[Toxic Avenger]

The preferred dividends continue to accrue and they are now greater than the A/R. So even if the "related parties" pay the A/R (an unlikely event), it will all go to the preferred shareholders.

On top of that, another $20 million in capital goes to the preferred shareholders before any common dividends.

They have a market cap of $300k and average a few hundred dollars a day in trading. Clearly no one believes they have a chance.

And they don't.