TEUFF Shareholder Travis Tadlock Letter to Company Counsel to request a meeting in New York with CEO of Box Ships to push forward the fiduciary requirements of the Company towards the common shareholders of Box Ships.
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See below letter:
Travis Tadlock
XXXXXXXXXXXXXXX
Georgetown, Texas 78628
972-880-5027
VIA EMAIL AND U.S. POSTAL SERVICE
James M. Turner
Sichenzia, Ross, Ference, Kesner
61 Broadway
New York, N.Y. 10006
Re: Box Ships, Inc. (The “Company”)
Dear Mr. Turner,
I am a shareholder of record (recently filed 13G – 3,665,000 shares) in receipt of correspondence of a letter dated June 23, 2017 from yourself to Mr. Stephen Chu. In this letter you reference the fact that you and your firm are the U.S. Counsel to the Company. Although there are a number of statements in that letter that I find somewhat questionable, my real question for you is this. As U.S. Counsel to the Company are you representing the Company or are you representing the Management and Board of Directors? If, in fact, your are representing the Company as your letter represents, then I feel that there might be a legal duty for you and your firm to also represent the rights of the shareholders.
As counsel for the Company, I’m asking for you to arrange a face-to-face impromptu meeting in New York City with the CEO along with several of the major shareholders to discuss the strategy for moving the company forward as well as to answer questions about the transfer of assets from the Company to his privately held company, Allseas Marine, S.A. and other entities affiliated with Michael Bodouroglou including questionable stock and convertible note issuances thru Neige International Inc. a company also controlled by Michael Bodouroglou plus the successive use of convertible notes thru 3rd party investment firms Magna Equities Investment LTD, Kyros Investments LTD and the recent convertible note issuance to an undisclosed third party. I would request this meeting to occur within 30 days of receipt of this letter.
I have made numerous attempts to reach the CEO through the Investor Relations representative as well as 2 direct phone calls to the Greece offices. I left messages with a person who represented himself to be Joe Skrimizeas for the CEO to call me. Additionally, I have emailed the CEO to his direct email on two different occasions. I know he has received and read the emails because I sent and received a read/received reply from the emails. I have still received no direct reply or correspondence.
Currently, my position is to remain a passive investor. However, if as Counsel you cannot or will not arrange this meeting, I will refile my 13G to become an activist shareholder. I will move to have any and all of the applicable legal authorities begin to investigate the actions of the Management and Board of the Company as well as to make changes to the members of the Management and the Board. In my opinion, the treatment of the shareholders by the Management and Board at its best has been negligent and at its worst criminal.
In closing, I believe this situation can be resolved to the benefit of all with your help. I want to believe that the Management and Board of the Company want to do the right thing by the shareholders, but their current actions suggest something entirely different.
I look forward to your prompt reply.
Sincerely,
Travis Tadlock
Cc: Larry Green Sr., attorney
AI
