Box Ships Inc (TEUFF)

[munhoi]

not to pound on a dead horse and I am not saying this is what they did in essence and this is just my humble opinion and dark view of what management and BOD did:


here is an analogy:

if someone is desperate and has no ethics they do things that become criminal to save themselves:

if the Private Entities of the CEO got into trouble and were running out of cash - what do they do - they stop paying the bills - here the CEO's entities stop paying the paying the bills that his private affiliates including Allseas owed to Box Ships keeping the cash to pay their own bills - now in the real world if you or I did that - its called embezzlement and we be in jail as a criminal.

if they take your ships for nothing and sell it for a big profit and keep the money without telling you and getting agreement with the owners ie the shareholders - its also called embezzlement and we all be in jail

but if you put full disclosures in their financials saying they will do this - and you the CEO are on both sides of the same transaction to OK them with the BOD to legitimize those transactions where you are negotiating with yourself to your own benefit - then its ok - however - they are still considered anti-fiduciary acts against the owners of the company against the common shareholders and thus not legal under SEC laws as anti-fiduciary acts against the shareholders

using this analogy one could say the CEO and BOD embezzled money from the Box Ships shareholders and kept the money to save their troubled private entities

now this is just an analogy , just my view and just my humble opinion and I am not saying the CEO and BOD and Management embezzled money from the common shareholders of BOX for their own benefit

I will let you decide what this appears to be without saying it - of course they incorporated in Marshall Island where these sort of what in the real world would be called embezzling the common shareholders money is NOT OK

please everyone tell me I am not Crazy and I just made this up !!!!

OK off the soap box for last time this weekend but my head has been spinning over this for the last 12 months because I seem to see things clearly hidden from the SEC, the legal system and inbreed BOD of BOX ships that perpetuates this kind of anti-fiduciary acts

just my humble opinion and views only - and my conspiracy theory that Sherlock Holmes and Scotland Yard would have concluded as well in this case

you are seeing the darkest side of Capitalism here -when the CEO's and Boards that have no ethics steal from their shareholders under the veil of recapitalization to save their own private businesses and try to get money back they lost themselves at the expense of their own shareholders - just my IMHO

when youre the CEO of both the public and private entities - it appears you can easily get away with it again just my humble opinion if you can see clearly that coincidences don't occur and circumstantial evidences here are very compelling

IMHO we need to get this money back to Box Ships and the common shareholders