Replies to post #25473 on Box Ships Inc (TEUFF)

[ivfk]

That could be one possibility but shouldn't' there be an SEC filing?

Let's say they did uphold the 4.99% anti-dilution in the conversion note and raised cash via another conversion. This would mean that only a small portion of the note was converted. In this case the converting entity could have only been responsible for 1.5 Million of the new TEUFF shares (4.99% of today's O/S). This means they only converted 1,980 of their 36,000 TEUCF preferred shares to date.

Maybe the remain dilution came from newly raised funds which means they could have raised a maximum of $133,000. The last time they raised fund via a toxic financing method was with Magna (Joshua Sason). Investor relations assured me at the time that this deal was a mistake and that it would not happen again. Also, there was an SEC filing at the time.