Replies to post #28072 on Box Ships Inc (TEUFF)

[Toxic Avenger]

You're ignoring the current liabilities of $2.6 million, which are most certainly higher now, not only because of the preferred dividends accruing, but because the company has had no cash to pay any of the work done since 12/31/17.

So they're in a net liability position, which of course would normally mean bankruptcy filing, but with no assets to collect and no management to file, that's not likely to happen.

The price is far below $.0857, but I wouldn't buy at $.0001 as the stock is effectively worthless.

Best of luck though.

P.S. - you're right about management not changing and becoming shareholder friendly. They didn't become wealthy by being fair. Where I think you're wrong is thinking that any U.S. court will compel anything from them. It's dead money IMHO.

[Sprtn27]

I'm with you on your math and put $5K into this ticker at .033 and sold out at .012 taking my hit. Unfortunately, I think Toxic Avenger is right on this one. If you can hold out long your plan may work out because as of now this is a fairly clean shell that might be attractive to someone with a real business plan. Otherwise, TEUFF share holders are probably SOL.

I keep watching though because if they ever do ramp up operations again, we will see this ticker make a run into the .40 - .60 range I think. Shouldv'e taken TA to heart before jumping into this thing earlier. LOL!