Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
And where is Drys now?
Greek crooks are everywhere ........
What's with all the 10k trades?
Long time holders trying to get their PPS average down then dump when they can break even.
Hope you pumpers can get this goin'!
If it is true that Mr. Boogaloo stole those ships he will be in deep doodoo and his name will be forever known as Mr. Doodoo Boogaloo! Can you imagine how his Greek shipowner country club friends would laugh at him? They are a sorry lot.
Waiting to hear how this turns out. Specifically ..... What have these two ships been doing since the sale? We could all see some revenue come our way soon!
My order is still open adjusted to 10000 shares @.0002. Today's volume so far shows 7,185 .... bid of .041 for 21,190 and ask of .06 for 10,000
Yes, must be a mistake as I just tried to buy 50,000 shares at .0001 and my order won't post.
nightbengal,
This is what I see happening............
I don't know all the legal ramifications but I believe Mr Boogaloo is trying to get his preferred stock's accrued interest and/or the company's $2.7M in receivables for himself.
Mr Boogaloo does not want this company to survive. There is no dept so bankruptcy is not an option.
His preferred stock interest is only payable from company profits therefore his preferred shares are worthless if there is no company. Upon closure of the company what is left of the receivables will be distributed to the common shares as the $2.7M receivables is owned by the common shareholders. This currently works out to 92 cents / share.
Mr Boogaloo has been trying to initiate a massive 5000/1 reverse split (after an unneeded 50/1 reverse split last January?) which will drive the price down even further allowing him to convert his preferred shares to common shares at pennies on the thousands of dollars.
Mr Boogaloo will then have controlling interest in the company and can do what he likes without the common shareholders approval as he will own most of the common shares.
AND THEN....Mr Boogaloo will be the prime beneficiary of the $2.7M receivables (due to his overwhelming common shares balance) when he decides to close down the company.
Actually, I believe Mr Boogaloo will allow the company to be bought out by one of his other companies ........ probably the one/s that owe Box the $2.7M.
WHAT A SCAM!!!!
Mr Boogaloo's actions are NOT in the best interest of the common shareholders and he will be sued for lack of his fiduciary responsibility.
Well, from what I initially read it appears mr boogaloo is trying to wash his hands of this venture while getting some of his preferred share value back..... the HELL with the common shareholders!
I am going to study the legaleze further and get back to y'all.
Good news is his conversion is ONLY 4.99% of common shares......
I think a lawsuit is brewing.........!!!!!!!!!
Whooooooooo Hoooooooooo !!!!!
Thanks y'all, especially Munhoi our trainer!
However I believe this may be a 10 round fight. We have won the first four rounds but have many more to go.
My concern is still the "change of control" wording in one of the filings. I'm not savvy on all this legaleeze stuff and am hoping the boogaloo cannot sell this company to one of his greek boogaloo cronies to steal the $2.7M common shareholders piece of the pie.
So everyone keep an eye out for any boogaloo shenanigans designed to rip US off.
If the company is not viable I would much rather have a paltry 92 cents per share and stick it to the boogaloo!
KEEP THE FAITH!
WOW, is TOXIC AVENGER being paid by mr boogaloo to bring the price of this stock down?
Just a thought...........
Really? A "broke" company with $2.7M in receivables? With 2.91M shares outstanding that works out to 92.78 cents per share.
mr. boogaloo is trying to figure out a way to steal that final $2.7M and we are putting up a furious fight.
Being that you are so concerned about pump and dump hurting the common shareholder why aren't YOU helping US out? Everyone already knows this company has been pumped and dumped so no reason to continue your educational mission. Now is the time for YOU to offer solutions to either get the company back on it's feet or help US get that $2.7M.
WHAT IS YOUR DEAL?
QUOTE:
" The company is broke making both the common and preferred worthless. "
So, if the CEOs other enterprise owes Box 2.7M and there are 3M (?) outstanding shares......My fuzzy math calculates each share to be worth 90 cents.
As long as we spoil the CEOs dilution tactics he can only exchange his $1.60 preferred shares for 90 cents. He won't want to do that.
And I would be more than happy to rid myself of my few shares from this greek crook for 90 cents a share.
Mr. Boogaloo......are you listening......buy us out....you have the cash available. Just DO it!
Just submitted my (your) letter of concern.
Thanks Munhoi!
Here's where I see mr. boogaloo being a crook:
He got toxic financing in order to do a RS for the sole purpose of diluting the shares (and now trying to dilute again) so he could take over.
one key issue is He could have used the owed revenue to Box from his other entity instead of getting toxic financing. The toxic financing was soley for the purpose of common share dilution.
It is a very good thing for the common shareholder that box is free of dept otherwise mr. boogaloo would file for BK and be able to convert his preferred shares to common shares thus severely diluting the common shares.
That's how I see it anyway.
I would not be surprised if gallows are being constructed for mr. boogaloo as I write.
I don't understand why 47% so far would vote for R/S. Is the solicitor making false claims to garner more yes votes? Can we find out how the solicitor is handling this get out the vote issue? I would think they are dispelling "fake" scenarios to get yes on R/S. Mr. Boogaloo is a Piece of Work! *&%^$#$#@!!!
Well, as Mr Boogaloo tries hard to R/S and then change his preferred shares to common (wiping out the current common stock value) I am looking to buy and sell 100 or so shares of this stock at $1 per share. If all shareholders would do the same the price may rise high enough to at least force Mr Boogaloo rethink his actions.
I don't know if this scenario is legal, it certainly isn't ethical, but one needs to fight crap with crap.
I now have 100 shares available for purchase at around $1+ per share.......looking to buy at that price as well.
Well, I can envision a scenario where Mr Boogaloo does a side deal and offers to buy a shareholders stock at a premium AFTER that shareholder votes in the boards favor.
Again, I'm not a big trader and don't know all the rules but can see this happening.
I imagine this sort of transaction can be traced by the SEC ...... but will they investigate?
Is there a chance that Mr BODOUROGLOU would be able to buy the shares (possibly at a premium price) of the non voters and then cast their vote in his favor?
I would not be surprised if he tried to do this if it's legal.
If that is what is happening we owe Munhoi a big thank you for orchestrating the get out the vote campaign.
What is interesting is that the meeting was postponed to "allow additional time for the solicitation of proxies".
All I can figure is they didn't like the outcome of the initial proxy vote so are trying to get more votes in their favor.
Can they legally do this? Postponing the vote tally until they get what they want? Seems to be similar to third world vote rigging shenanigans.
What a joke!!!!
It seems that TEUFF has stopped trading as of last Tuesday May 30. Anyone have info on this?
Just found this link describing "Change of Control"
http://www.wikinvest.com/stock/Associated_Estates_Realty_(AEC)/Definition_Change_Control_Event
So from what I understand, if there is a change in the voting power the owner may exchange his preferred shares for common shares in order to keep or regain majority voting power.
At least it will cost him some $ to do that.
Folks.....below is a copy of a Home Depot SEC filing defining "Change in Control"
Is this a standard SEC term?
If not we need to see how BOX has defined it as Stephen Chu may have already "changed the control" with his purchase.
From a Home Depot SEC filing clarifying "Change in Control":
2. For purposes of this Agreement, “CHANGE IN CONTROL” means the occurrence of one of the following events after the date of this Agreement:
(a) if any “person” or “group” as those terms are used in Sections 12(d) and 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (a “Person”), other than an Exempt Person, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more (the “CIC percentage”) of the combined voting power of the Company’s then outstanding securities; provided, however, that if such Person first obtains the approval of the Board to acquire the CIC percentage, then no Change in Control shall be deemed to have occurred unless and until such Person obtains a CIC percentage ownership of the combined voting power of the Company’s then outstanding securities without having first obtained the approval of the Board; or
(b) if any Person, other than an Exempt Person, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing greater than 50% of the combined voting power of the Company’s then outstanding securities, whether or not the Board shall have first given its approval to such acquisition; or
(c) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new Directors whose election by the Board or nomination for election by the Company’s stockholders was approved by at least two-thirds of the Directors then still in office who either were Directors at the beginning of the period or whose election was previously so approved, cease for any reason to constitute a majority thereof; or
(d) the consummation of a merger or consolidation of the Company with any other corporation; provided, however, a Change in Control shall not be deemed to have occurred: (i) if such merger or consolidation would result in all or a portion of the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) either directly or indirectly more than 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or (ii) if the corporate existence of the Company is not affected and following the merger or consolidation, the majority of the Company’s Executive Committee, or if no such body then exists, the majority of the Chief Executive Officer, Chief Financial Officer and Presidents (or other heads, regardless of title) of the principal operating units of the Company retain their positions with the Company (disregarding any such executive whose employment terminates for reasons other than due to a termination by the Company without cause or a termination by such executive for good reason) and the Directors of the Company prior to such merger or consolidation constitute at least a majority of the Board of the Company or the entity that directly or indirectly controls the Company after such merger or consolidation; or
(e) the sale or disposition by the Company of all or substantially all the Company’s assets, other than a sale to an Exempt Person; or
(f) the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company.
OK then.......what does "Change of Control" mean?
Howdy........this is my first post and would like to let you all know I voted 5443 shares NO on all but the auditor.
Keep your fingers crossed!