Replies to post #27792 on Box Ships Inc (TEUFF)

[tinojax]

The preferred shares were NOT converted, they were SOLD.

Box bought these shares by issuing a promissory note due in one year.

WHY ARE THESE NOTES ALLOWED TO BE CONVERTED TO COMMON SHARES IN LEW OF PAYMENT OF THE NOTE???

This tactic seems totally illegal according to the rules Box established to convert preferred shares to common shares.

DAMN THAT BOOGALOO !!!!!