Box Ships Inc (TEUFF)

[Blizzld]

The float is the outstanding less the restricted shares, usually officers/directors/ 10% owners etc. Note the CD note holder can only own 4.99% of this number at any given time, but remember once they sell it, they do not own it anymore.

Unless any stock other than the above is restricted the float before this note is roughly what the person just posted.

It is important to use common sense. The CD note holder is not going to sit around for a year to get money with a company trying to stay afloat and negotiate secured debts to stay alive.

Also you see what happened with the last note.

How anyone can try to paint this as a good thing is beyond me. The only good thing here was the fact that everyone felt the dilution from the first note was over. Even Wishful kept saying that, it was a big part of his "presentation".

How can you see "the bad stuff is over" get another not another 30-40 million shares or more possibly and say its no big deal no shares in float no one can sell for a year. Who with knowledge would say such a thing. Show me a CD note that did not sell for a year!