Box Ships Inc (TEUFF)

[munhoi]

to be honest with you, its very confusing

ie

how 2 of the ships that used to be owned by BOX is listed with Allseas the CEO's affiliate since end of November , ie how they got there generating revenues for Allseas the CEO's entity , how they got those ships and if they were sold to the CEO related entity how much he paid for them if anything since all the liabilities were zeroed out by the Banks that settled on those two ships

why those ships are not listed as Box Ships instead and then owing the CEO entity the amount he paid for them as the new lender and the ships then remain with BOX to continue generating revenues


two of the Box Ships Board of Directors resigned shortly after Mr. Chu questioned about those 2 ships and how the arrangements ended up with them back with Allseas - was it just coincidence they resigned or were they aware of any wrong doings going on and quit the BOD

if the sale was Legit - why did the 2 ships end up with Allseas after the sale and who's revenue should those 2 ships generating belong to if they were Box Ships before ie Box should be paying Allseas for the expenses and the profits should go back to BOX Ships etc. for ships that belonged to BOX before the sa

No one can figure it out without company mgmt. explaining it - which they have not to anyone

its a mystery who benefited from those 2 ships sale since all the debt liability was zeroed out on those 2 ships - so if one of CEO's entity bought it - then they made out on the transaction as being a party on both sides of the deal which is a problem

I don't have a answer - only the BOX BOD can explain why they owe BOX ships $2.7 million in the receivables & haven't paid them and uses toxic money to destroy shares instead and why these 2 ships revenues ended up on Allseas when these 2 ships used to be owned by BOX before the sale

looks like IMHO the CEO's entities gained and BOX ships lost on this deal - I think the profits from ALLseas for these 2 ships should be BOX ships revenues instead IMHO

its obvious to me that if there were 2 ships that were owned by BOX on date X - and following sale Allseas the CEO's entity starts generating revenues on those same 2 ships - BOX ships got raked on the deal when the deal could have been structured for the benefit of BOX vs for the benefit of Allseas vs ransacking BOX when they need the revenues IMHO