Box Ships Inc (TEUFF)

[Toxic Avenger]

They likely can't acquire ships or restart the business at all, but definitely not without blowing out the current shareholders, including the preferreds.

No investor will put money into a stock that has only net liabilities for a small ownership stake. And that includes the past management and large shareholders.

The company's filing saying essentially they are out of the shipping biz with no way of raising money confirms this.

And while there are some who hope prior management will be forced to provide capital or ships, that's simply unrealistic, even for a U.S. based company, let alone TEUFF.