Friday, July 07, 2017 9:47:48 PM
he then adds all kinds of clauses like youre at risk for loosing your investment
every Greek Shipping company the CEO has his mgmt company that contracts with the shareholder entity, he has his own shipping business that contracts with the shareholder entity, he has his own shipping company that owns ships so that he depends on the public shareholder entity to funnel funds thru contracts, lending deals, you name it so that his own private entities always prospers
now IMHO hes trying to fund new ships off shareholders for free at no cost to him vs going thru the typical bank lending route
the serial dilution and reverse splits are anti-fiduciary acts - they have broken them but are contesting they have not
the fiduciary responsibility issue is a REAL legal issue IMHO they have violated and none of the disclosures they have made protects them
that is the biggest issue they are scared of including their legal counsel IMHO
if you send communications to Box Ships Always say they have violated their fiduciary responsibility under SEC and when they are noticed they then have further responsibilities to fix it - that is their Achilles tendon
I recommendation all shareholders write correspondences putting them on notice as follows:
use the following:
The BOD and Senior Management of BOX Ships TEUFF are required to uphold their fiduciary responsibility to its common shareholders in all phases and aspects of their duties and to enhance shareholder values , the provisions of which when violated fall under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
We believe that Box Ships BOD and Management have not upheld their fiduciary responsibilities to their common shareholders.
At the same time Management continues to indicate “ we would like to assure you that protecting the interests of the shareholders remains a top priority for the Company’s Board of Directors and management “ they have at the same time have in the past dealt with entities that do death spiral financings that have been known to destroy shareholder values including but not limited to Magna and Kyros.
Additionally, we believe there are real concerns as to whether Box Ships TEUFF and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 already and to further plan to violate Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 again based on the 6k filed on April 19, 2017 seeking additional stock dilutions and reverse stock splits to be financed thru toxic death spiral financiers and further continue self-dealings thru preferred stock conversions initiated by the CEO as the major preferred shareholder catering to self- interests.
These conflicted self dealings , dilutions and reverse splits are against the provisions of which when violated fall under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
You are hereby noticed.
If all shareholders mass send this to the BOD and Mgmt CEO etc.
They will be required to meet their fiduciary responsibilities as they cannot willfully, intentionally pre-plan actions to go against commons shareholder interests.
thanks you if you would like to use above to put them on notice
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