Box Ships Inc (TEUFF)

[munhoi]

ie you have 5 and 6 reverse , ie they will dilute to obtain the funds to buy the first ship

otherwise they would have already this august when bulk ship rates were surging again

that has always been the problem


however with CHU Tadlock and friends owning approx 41% of outstanding shares CEO cant get a RS dilution proposal thru without giving the two of them something


that is why chu and tadlock remain the keys to shareholder redemption without a wipeout IMHO

CEO must either settle with them or give a cash out to existing shareholders to be able to re-start ie shareholders still have voting rights

preferred shareholders have no voting rights and they are non convertibles that remain