Replies to post #28277 on Box Ships Inc (TEUFF)

[temp luvs amy]

I've seen a few Form 15 filings before. I can't remember any where shareholders got paid. They just trade zombie style. The SEC is powerless to suspend them because they no longer have any obligation to file reports. Sometimes they trade pink, sometimes grey. They don't have 2.7 million. They have a receivable. The receivable can be paid in the form of stock of the "new" company. It's a common reorganization scheme, but not used every time. Either way, stock dividend, or cash dividend, preferred has prior claim.

[temp luvs amy]

Another common scenario, they filed certification with OTC, and "some" companies make reports to the market. I can't remember the specifics, but if they give periodic info, they can still trade on the pinks until a major development happens. Trading is my main interest. I've held quite few stocks that end up getting suspended. No payout. One company, owns about 10 million in Texas Real Estate, didn't report, didn't pay, got suspended, didn't file Form 15. I still have it, FWIW. Never hear a peep.

[temp luvs amy]

And I just checked. That company is still "active" at Nevada Secretary of State. https://www.nvsilverflume.gov/businessSearch It just doesn't trade.

I screen capped the image. I'll probably have to upload it to Twitter or Gab to show it here.

I'm not "promoting" it. You can't buy it. Just passing relevant information. I hope this doesn't get deleted by intolerant observers.