Tuesday, August 11, 2020 12:29:16 PM
if he was to resurrect it would be Box Ships because it had the cleanest balance sheet and without debts owed he cant file a BK, if he cant file a BK the preferred cant be used to dilute the common without shareholder voting which he cant prevail because Chu and Tadlock still own all their shares and have never sold any of them and can block the voting nonce the shares are re-registered on an OTC exchange or NASDQ where their voting rights resume as old voting shares IMHO
there are a ton of tax loss carryforwards he can use if he resurrects BOX ships in the hundreds of millions, the incentive is the tax loss carryforwards that are worth money and still can be used IF he gets the business back up and running soon - otherwise I believe there is a statue of limitations on tax loss carryforwards of 7 years - he still has like a few years left so he better get it up and running
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