Mr. Chu been pressuring them to utilize options such as a buy or lease ships as one of the options and/or increase the number of ship maintenance contracts to get more revenues until they do etc
and ie work with the China Ship Builders to finance a capital lease purchase type lease arrangement where the Ship Builder finances the new ship and the company leases it and owns it at end of lease etc. and/or use funds from the unpaid receivables and/or sales proceeds of Box Trader and Box Voyager to use as funds from cash rich Allseas to fund the lease purchase financing for these Box Ships leasing etc.
there are so many options proposed by Mr. Chu- of course Mr. Chu doesn't put it so kindly as above on his requests - he literally demands the BOD and CEO do this claiming the past and current BOD and CEO raided looted and robbed TEUFF of its assets and they need to return the funds to re-invest in the future of Box - TEUFF ie the " re-invest in the future of TEUFF" demand letter to the CEO and BOD
its hard to tell what this BOD and CEO is thinking and doing - its like IMHO only they try to get away with as much as they can and only when they cant anymore will they start doing the right things
that's why Mr. Chu blocked their reverse split proposal and now is moving on to attempting to force them to stop doing one sided transactions to benefit the CEO private affiliates and forcing them to re-invest in TEUFF as the only solution to enhancing value for both TEUFF and the CEO's private affiliates
they obviously both have to succeed in- order for it to happen
the bottom line is can Mr. Chu succeed - he has one win on his belt
lets hope he gets a second one - it would be one for the ages if he succeeds - this is a difficult group to deal with ie the BOD and CEO
they got away with murder until Mr. Chu got involved recently a year ago to attempt to put the common shareholders back on the map
my conspiracy theory is that there are currently several million in shares short because they shorted not realized the dilution is over
they need to cover but there is lack of enough shares available to sell for the market makers to sent the prices down where they need to cover it
so the market makers sell to the low ball buyers when they do not see enough bids to use naked shorting to try to keep prices low hoping prices fall further so they can cover
as the number of naked volume keep growing - it builds to a point where the lack of available shares forces the PPS back up as the market makers at some point panics
whether we are at that point already - no one knows
that is my assessment or conspiracy theory of the growing % of short sales % of daily volumes
we just need large buyers to push price up and squeeze them out IMHO only
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