I believe that the CEO owns a large portion of the outstanding shares and has a vested interest in getting paid himself.
This is not a stock to trade. This is only a buy and hold opportunity betting on the survival of the company. My time horizon is 2 to 3 years. Once you are in, it is hard to get out. When Box Ship was delisted, the common went to the regular OTC Market which is much easier to trade. Because TEUCF had less than 1 Million outstanding shares, the symbol was delisted to the OTC Grey Market which makes it very hard to trade.
Box Ship will have to face lots of head winds in the next 2 years but with the sale of the 2 ships they have enough cash to survive. I also think that once they reinstate the dividend and move the stock to a better trading environment, this will jump back to the par value of $25 per share.
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