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LOL
Hi All, any word on the boogaloo lawsuit?
T will reduce dividend by 38% max (NOT 50%) according to this article excerpt:
In June, AT&T’s CFO Pascal Desroches said that once the deal was completed, the remaining entity will have a dividend payout ratio of 40 to 43% , compared to the current ratio of 64.5%.
Do the math.............
This will be a great dividend at current prices.
per "shayla" I would guess it's being traded thru Schwab? I'm hanging on to my shares for a while though with the EU issues coming to light.
I don't know what to tell you other than what I received from the lawyer after three failed attempts to send me the info. I only received a crude power of attorney form. All US power of attorney forms i reviewed have complete instruction for the client AND attorney. The form also arrived in a 21 point font that covered two pages. There is no place for notary signature. Aren't notary required by Greek law as well? Also curious about the inclusion of the second paragraph explaining the company and actions of the CEO. This would seem to belong in the lawsuit, not in a power of attorney form. I am not a lawyer just using logic to ask questions. Always question....... I'll paste the form contents below so all can see.
I didn't receive a resume either. It would ne great to read it along with links to case involvements. So far this has been a very unprofessional encounter.
Form:
Legal authorization
?he signatory ………………………………...
Tax Registration Number .…………………
Passport N. ………………………. Occupation ……………………………resident of …………………………. ………….. I hereby authorize the lawyers of Athens 1) Emmanouil N. Rodousakis(?.?.D.S.? 33251) and 2) Apostolos D. Anagnostopoulos (?.?.D.S.? 11339), 29 Eressou str., as together they separately write, sign and file on my behalf, a lawsuit against Michalis Bodouroglou ………… .. resident of Voula, Attica, 15 Konstantinos Karamanlis Street, but also of any other participant, for the offenses of infidelity and money laundering. These criminal offenses were committed by the above defendant, against the company "Box ships lnc" and in the capacity of President and CEO and of which I am a shareholder.
This company has been set up in the Marshall Islands and displays the above address of the defendant. The action of the above defendant begins in the year 2014, when he began to abuse his management power over the above company, damaging its property to my detriment, while at the same time he was illegally enriching himself from this damaging behavior as he appropriated and incorporated in his personal property, amounts in order to legalize them illegally by mixing them with his other funds.
The damage caused to the company "Box ships inc" and its corresponding illegal benefit, exceeds the amount of € 120,000.
I also authorize them to produce and receive documents from the case file that will be formed, to propose witnesses, to represent me in each competent Authority and to do what is necessary for the termination of this order. To grant to third parties of their choice, further mandate and power of attorney and power, for the execution of actions and acts, Judicial and extrajudicial, within the framework of this mandate and power of attorney.
To declare representation, in support of the accusation, being proxies and proxies in this process
SIGNATURE AND DATE
BEWARE ALL !!!!, I finally received a reply from the "Lawyer". Attached was a crude Power of Attorney form without descriptions/instructions. NO letterhead, NO business email, NO business address. And I can find NO attorney information about these individuals. This appears to be similar to a Nigerian scam to obtain my personal identity information. I'm NOT going there.
So, for now I'll just sit on my shares and wait to see what happens.
Anyone else have these concerns?
Well, I just sent another email to manolis_rodousakis@yahoo.com. Also ccd Peter Rob. Lets see what happens..........
I've been checking my emails but have received NO response yet. How are things moving along?
Great, thanks!
Rob,
I just sent my info to you again. This time to delarobas.rob@gmail.com.
Previously the email provided was delarobas.rob@outlook.com.
I find it curious that you haven't provided a contact email address from the firm. Hopefully that will happen in due course.
Any idea why they are doing this? This is a real crock o' kuaka. It appears they are trying to purge the small and struggling companies and investors from the roles. Another move by the SEC to make it elitist. God bless America..........
Great, thanks for the update. It would also be interesting to know a bit about the Tadlock escapades. Are you at liberty to speak about it? A summary would suffice for now. Thanks!
Still waiting for lawyer contact information..............
We're waiting for that lawyer contact info..............thanks!
Please provide the lawyer's contact info. Contacting the lawyer directly is more efficient than through a middle person. Thanks!
I don't understand what the holdup is in starting the lawsuit. You say the lawyer only needs a couple of investors to "chase B" whatever that means. Lets get the ball rolling as I'd live to put a hurt on that crook boogaloo. There are only a dozen or so of us left and I would assume we are all in for the lawsuit. Time to fish or cut bait....................
This is about voting rights for preferred shares. It has nothing to do with common shares.
Make it so...........
My point was that the prospectus is illegal. It was a scheme concocted by boogaloo and his (now resigned) lawyers. I don't believe it will (or it certainly shouldn't) hold up in court as a valid prospectus. How the court will divide the spoils is yet to be determined. I'm sure there are precedents.
There may be a paradox in your theory. From my recollection Boogaloo possesses the majority of the preferred shares (does anyone have this data?). Should there be a change of control allowing preferred conversion to common Boogaloo will still be in control of the company. Therefore, there is no change of control allowing conversion.
I read the prospectus many years ago and was very surprised at the leverage these converted shares and notes gained. It actually seemed illegal to me. I recall several notes illegally converted thus massively diluting the common shares.
It appears as if boogaloo and his lawyers wrote a prospectus to insure he had control of the company assets regardless of the outcome, the investors be damned. I can envision a judge declaring the prospectus null and void as it is an illegal prospectus. Then there would be a fight dividing the paper assets amongst the shareholders with the common rightfully receiving boogaloos ill-gotten shares.
boogaloo and his lawyers devised a scheme (the prospectus) that guarantees boogaloo receives the bulk of the company assets regardless of company's disposition. Preffered have NO claim on the company assets.
Of course that's just my theory. I feel for the preferred shareholders but the assets belong to the company and common shareholders. Preferred shareholders are silent investors in the company. Basically they own corporate bonds and get a fixed percentage on their investment when the company makes money. They get paid first, before common get their dividends.
That sounds like a great business, not "wacko" at all. Sorry for using that term while being ignorant. I assumed your farm was one of those with slave labor, antibiotics, and chemicals with discharges into sensitive environments. Good luck to you!
It all depends how boogaloo got his shares. Did he actually buy them with his personal funds or did he manufacture them out of thin air using some scheme.
Character assessment points to the latter and those shares should rightly be cancelled. However if they were legitimately purchased they should be used for restitution of the assets stolen from the company.
Just my thoughts.
BTW...if I may ask, what kind of shrimp farm do you have?
And it would be logical that those forfeited shares would belong to the company (i.e. common shareholders) to be proportionally distributed amongst them. Then we can get down to business.
The only ones who seems to want to "change control" is the wacko shrimp farmer and boogaloo.
We intend to sue to get our property back and make the company profitable again.
And since boogaloo owns a majority of preferred I would assume a good lawyer would recognize this scheme and include forfeiture to the company of those preferred shares.
A bit more here........I don't think preferred shares were converted only cashed out by boogaloo probably from the $2.8M reserves. What was illegally converted to common shares were several notes which added up to 30M shares, if I remember correctly. This info is in the messages and SEC filings.
What I don't like is this wacko shrimp farm conversion idea which would probably end up being a company sale and preferred shared getting the spoils leaving the common busted. And that goes for the additional wacko idea of converting the preferred shares to common, massively diluting the current common shareholders, and ultimately selling the company due to the will of all these converted shares.
Remember, boogaloo owns the majority of the preferred shares which would give him voting control after a conversion.
So, since I've only seen this suggestion from temp_luvs_amy, is temp_luvs_amy working for boogaloo?
Food for thought..........
I don't know much about the all the legalese mumbo jumbo but would assume from what I've read is that "getting paid first" means from the profits of a working company. That is all. there is no need to address the preferred as they are only along for the ride and have NO voting rights. I realize these payments are accumulating but payment is ONLY from OPERATING profits. i.e.: There were NO payments to preferred from sales of the ships and there were No payments from the swindled $2.8M cash reserves as far as I remember. Now if the company was sold I assume the preferred would be first in line for the spoils. But there has been little talk of disposing of the company, only getting the ships back and operating again.
Now if a lawyer can manage a successful suit it seems (from talk) that boogallo has enough resources to make everyone whole. I'm sure that would be fine with all shareholders, common and preferred, except the one with the wacko shrimp farm idea who seems to have preferred shares (from my observation) that they believe need to be attended to.
And speaking of preferred shareholders....where are they? It would probably help if they got involved in this. It seems they are just sitting on their duffs waiting for common to do all the work for them then jump in and snag the loot.
Anyway I've ranted enough. I have little skin in this game but dislike being swindled so I keep an eye on the chatter hoping to see boogaloo get his instant karma.
Sorry but the only "honorable" thing to do would be to make this a profitable working business again. When that happens the preferred shareholders will start receiving their payments again. Other than that preferred shares have no claim on the company. From what I remember I believe some of boogaloos buddies illegally cashed in their preferred shares, for a profit of course. And a question I would bring up is what have preferred shareholders done to help resolve this theft? I have heard zero, zip point sheet from them.
Sorry to burst your bubble temp but 400k shares may not get you a seat at the table. You're just along for the ride as I am.........
It doesn't surprise me that " he has open cases with the local authorities". A letter from us may add more "character" for the authorities. I'm willing to help any way that I can. Let's get on it!
United we stand, divided we fall. We need to get ALL current shareholders on board to submit this letter.
I'm in but have only 100K shares.
Anyone else? ....................
wonder if there are any possession of stolen property laws in Liberia?
I think the easiest and least expensive route would be threatening to alert the Greek Taxing Authorities.
$30
Statute of limitations was the question. Character is irrelevant. does anyone know the answer?
My concern is the possibility of a statute of limitations, especially for boogaloo's criminal acts. We may not recoup our investments but maybe boogaloo would get some instant karma from Greek authorities. I'm sure a lawsuit would pique the Greek authority's attention if he is not already under scrutiny.
Anyone know if there is a time limit in Greece?
I'm in as long as there is no out of pocket expense for me.........
I'd be willing to join a lawsuit on a per share contingency basis if I could recover 10 cents/share. Otherwise it is hardly worth it for me as I don't have that many shares compared to most of the remaining shareholders.
I'm happy to keep mine for now just to be a thorn under boogaloo's saddle.
I wonder if the tax man knows what boogaloo has been up to. The rich Greeks are known for their massive tax cheating, maybe we could send the Greek taxing authorities a little note.
Of course that may eat into any possible settlement we have comming.
After additional Google Maps viewing it seems this is actually an office building in the midst of apartment complexes.
Maybe boogaloo owns the building? Could be an asset that we can go after. Wonder what the worth is?
This is regarding the 2 year old post of the letter to Boogaloo's lawyers by Pdaddy2
Pdaddy2 Monday, 03/18/19 03:27:10 PM
Re: None 0
Post #28420 of 28801
I haven't read this in a while and it brings back bad memories
Wonder what is happening with it.......
What really cracks me up is where he does business.........out of a two bit slum apartment meant for a two bit Greek crook.. lololollolmaolololo..
.lolol....I wonder if the landlords know about his crooked ways........gonna' see if I can alert them....I'll keep y'all posted.....