Box Ships Inc (TEUFF)

[munhoi]

Mr. Chu owned over 13 million shares prior to the 50 to 1 reverse splits and dilutions - you are in the same boat

some owned shares when this was $500 a share of which 99% of it will never be recovered

the Macro shipping environment and turned from a shipwrecked industry to a stabilized improving one with rising ship charter rates building on the upside again over a steady period of time

this industry is very capital heavy intensive like the Airlines and is hard to enter due to size of capital investments needed to compete

the cheapest operators with the lowest debt are the ones that survive

the balance sheet of TEUFF is clean except for the problematic unpaid cumulating preferred dividends

TEUFF is a diamond in a rubble tossed away left for dead lying with the other shipwrecks and no one knows its potential except the CEO who has IMHO dileberately stole the company from right under the common shareholders while settling with the banks on the debts hoping no one would notice until Mr. Chu dug deep into the details

you owned this like Mr. Chu before the 50 to 1 reverse splits and dilutions so the probability of recovering your full investment is very very small

everyone here is trying their best to improve the chances of limiting the PPS damage further and giving TEUFF a fair chance to stabilize and recover some of its PPS price damage

the continues RISKS standing in its way is the continued questionable actions of this failed management ie:

1) this company is unfortunately backed by a CEO conflicted with private competing entities allowing him to do favorable related party transactions for himself and his private entities

2) equity dilution remains a very high risk due to continues note conversions hampering and putting a lid on share prices

3) turnaround value is high - however it has been severely impeded by lack of available non-toxic financing limiting its ability to get market rate financings

so although we have a clean balance sheet with very little debt - the unpaid cumulative preferred dividends , lack of available non toxic financing and the " sleazy" management with competing business entities are the major factorings scaring all the investors away and limiting the current PPS price appreciation

until we fix those problems we are stuck in this shipwreck nightmare


no your chances of recovering your pre 50 to 1 reverse split pre dilution investment is slim

everyone is working very very hard to stabilize the share prices and move them up from current levels

IMHO only the "sleazy" management and its desires to steal the rest of the company from right under the shareholders is holding this company back from achieving its turnaround value potential

the clean balance sheet with no debts except the unpaid dividends is being offset by the conflicted desires of the CEO to harm the common shareholders for his own benefits IMHO

so you now know where you IMHO stands - we are all trying to improve on this very difficult situation and position but if your are hoping to get back to pre 50 to 1 pre dilution PPS share price levels - the probabilities are not good

every one is working on limiting further damage so this tossed away diamond's value can be soon re-enhanced upwards

the risks are all related to what the CEO is doing and what he has done or not done

everything counts on stopping the dilutions and getting back the funds from the CEO's private entities to build a platform to rebuild and recapitalize TEUFF where the common shareholders share enormous values that are there but the RISKs are even higher due to the questionable management in place who is so conflicted IMHO he believes this is HIS company and not the common shareholders

the turnaround and unlocking of the value of TEUFF IMHO is heavily impeded by the CEO and BOD of TEUFF and therefore is trading where it is with 99.9% of the value taken from the common shareholders

I cant tell you how successfully we will be - but we are working very hard to put us back on a level playing field to improve those chances

its a high risk high reward no guarantees of outcome situation - until BOD and CEO stops working against us - we are in this shipwreck tossed away and left for dead with only the CEO and a few others knowing its true potential - ie the CEO wants all of it for himself

I cannot guarantee you the major shareholders will be successful or if it will get worse before it gets better etc. due to the note
or if we will be successful in getting the CEO back on board with the common shareholders

I feel for you as I and a few others are in the same boat as you are ie owned a lot of share prior to the 50 to 1 RS and dilutions at extremely higher prices that will NEVER be recovered

be realistic is all I can tell you based on your question and lower your expectations