Box Ships Inc (TEUFF)

[munhoi]

that last toxic financing that increased outstanding shares by 28 million plus was not needed, as Paragon and Allseas owed Box Ships over $ 3 million in receivables, yet the CEO intentionally diluted Box Ships for just a few hundred thousand dollars , the CEO goal was to liquidate the company to get the free ships were the sale values exceeded the liability on them so he bought them for $2 each and sold them for $2.9 million in gains in a few months

the CEO intentionally diluted the shares to try to zero them out as he was the largest preferred shareholder , in this way he got the ships for free and the company for nothing thru the liquidated process

it was evil to the core against every shareholder interest and he raided the company since its IPO to enrich himself

what a mockery of the SEC