Box Ships Inc (TEUFF)

[TEUFForBust]

Ok, this is my fourth and final attempt. Just the numbers this time.


It my be noted that a 50 for 1 reverse split was executed just over a year ago. Box ships currently has 475,000,000 authorized, with only 31,153,901 in issue, leaving 443,846,099 available. A reverse split does not typically increase the authorized share amount. So an additional 50 for 1 reverse split would only increase the free shares by 30,530,832 to 474,376,921 or 6.9%. If the authorized shares were to be increased by a factor of 50 that would be 23,750,000,000. I suspect that that figure would horrify any potential future investor.

As for the preferred shares. The only claim they have is to a percentage of future earnings. It’s a debt not due. And a reverse split does nothing to alter that structure.