Box Ships Inc (TEUFF)

[munhoi]

unpaid receivables value after all the new shares of 28.3 million outstanding estimated thru Friday is about 9 to 10 cents a share

they have no debt but unpaid preferred dividend


and Mr. Chu claims that Allseas CEO private affiliate took 2 of Teuff Ships to Allseas paid $1.50 each for them and sold them for total of $23 million and kept the money just like the $2.7 million in unpaid receivable of Box not yet paid by Allseas for services rendered.

therefore Mr. Chu has been proposing to merge Allseas assets into BOX repackage it as new equity to enhance equity value and to raise new capital

but like per excerpt from BOD and CEO - all he gets back is read the SEC filings

so in terms of turnaround news we are all left in the Dark