Yankee you make it sound like you understand the filings. Answer this for me cause it does scare me. Do we have to pay the preferred shareholders for eternity.
When I first started looking at TEUFF, I thought all preferred holders were exchanged for common. But close to a million remain, paying close to 46 cents a share quarterly. That is like 2 million a year up in smoke.
Preferreds alone could bring down TEUFF, and keep it from recovering. Welcome any ones comments here, and how or can we get rid of this burden. It is my biggest fear going forward, cause it doesn't help TEUFF one bit, only kills it imo.
Sorry I'm usually positive, but this scares me. Paying this forever is a what nightmares are made of until TEUFF can really afford it. I mean this money could go for replacing the scrapped ships. Cause if it doesn't, and goes to divy's instead, that really hurts. We are making less money now with only 7 ships.
Again I own share and don't kill the messenger, but sure would like to here someones comment on this reality. The CEOs would be best, but he my not want to comment this grim reality, but the last note make it plain as day.
Side note. I hate fillings, there the most boring mundane boiler plate things a person can read and try and make sense of. Believe they are so long and stupid as to keep from getting sued. From past investors crying and not doing DD on companies in the past, and losing money.
What I am really complaining about is, we only need to know a 1/16 of what's in them. The rest is for lawyers and lawsuits. Bugs me cause like the poster said earlier, through out a over worded filling and no one knows wtf.
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