The Good, the Bad and the Ugly year of BOX:
the Bad:
1) CEO and Board of Box sold two ludicrously dilutive notes to Kyros Investments for $250,000, they have been converted in the market and dumped keeping the share price to common shareholders at one penny. This was stupid , it was lack of fiduciary responsibility to shareholders to use this form of toxic financing which the affiliates of BOX could have financed it without such dilutive shareholder damage showing CEO is only concerned about his own interests.
2) shipping sector hit decades low hurting all shippers
the Good:
1) CEO managed to sell all the ships get rid of the massive underwater debt ( like you a mortgage to a house with $1 million dollars , market price of house $ 300,000 and the Bank settling for foreclosing on your house and your debt free)
2) With Massive debt out - there is no longer any risks of bankruptcy and liquidation as there are no longer any senior debtors that can force a bankruptcy or liquidation - the common shareholders now retain control of BOX ships
3) The CEO has so many affiliated entities that depend on BOX ships surviving and thriving that because of all his related party self dealing businesses from the accounting services, ship maintenance services etc. that CEO owns that he needs BOX ships for his own entities to survive and thrive
4) The CEO is one greedy shipper and with a big ego just like DRYS CEO - and therefore failure is not in his vocabulary - as a result BOX ships will survive and come back in 2017
the unknown:
how shareholders will do under BOX ships revival is unknown - lets hope the shipping sector makes a continued sequential rebound and along with it BOX and us common shareholders value hopefully rockets back up - although most likely gradual appreciation after an initial strong rebound.
but no one really knows at this point to be honest not even the CEO - but we need to pressure him communicate that we need to be treated better now that the debtors are gone and WE as common shareholders are now back IN CHARGE - don't be afraid to contact the company to ensure they hear what we want!!!!!
