Box Ships Inc (TEUFF): It's official. Nothing left but a sh...

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Toxic Avenger

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Sunday, 03/11/2018 7:05:12 AM

Sunday, March 11, 2018 7:05:12 AM

It's official. Nothing left but a shell with a lot of preferred shareholders accruing dividends they can't pay.

It's over.

Box Ships Inc. (the “ Company ”) currently has no active operations in the shipping industry. The Company has tried, and may continue to try again in the future, to seek ways to restructure its equity and debt capitalization, and to raise capital sufficient to re-commence operations in the shipping industry. The Company presently does not have any available credit, bank financing or other external sources of liquidity. The Company needs to obtain capital in order to re-commence operations and fund its activities.
https://backend.otcmarkets.com/otcapi/company/sec-filings/12617156/content/html

Without that reverse split, they aren't able to raise capital.

"There's a sucker born every minute, 2 to take him and 4 to lend him toxic debt" PT Barnum's investment advisor.