Box Ships Inc (TEUFF)

[ivfk]

Right, it's a real bargain....

Based on the last 2004 built ships sold for scrap we can now safely assume that the current assets including cash can not be much more than 60 Million...

Subtract from that....

121 Million in Debt
25 Million in outstanding Preferred Shared Obligation
5 Million in outstanding preferred dividends....

and you can see what a screaming buy this is...

My I remind you that the preferred shares trade at $2.06 which is a 92% discount of the the $25 Par value that the company is obligated to pay. The preferred is accruing $2.25 per share dividends per year which the company is obligated to pay before any common shares receive any value...