Replies to post #24571 on Box Ships Inc (TEUFF)

[Toxic Avenger]

They are likely losing money on their ship management biz (total revenue for that last year was $11k) and they owe millions in still accruing dividends PLUS $20 million in liquidation preference to preferred holders.

Remember, they now owe more in dividends than the entire A/R. Hence, the common is worthless.