Replies to post #28672 on Box Ships Inc (TEUFF)

[munhoi]

when Paragon closed shop, they still had huge liabilities on their booked in the millions left unpaid, while Box Ships had no liabilities and remaining receivables owed to them by none other then the CEO's private company AllSeas and his many other entities left unpaid to TEUFF on purpose until they made up a bunch of consulting contracts to take the money from TEUFF to pay himself thru his private entities when every dollar was taken then he ceased business

if he was to resurrect it would be Box Ships because it had the cleanest balance sheet and without debts owed he cant file a BK, if he cant file a BK the preferred cant be used to dilute the common without shareholder voting which he cant prevail because Chu and Tadlock still own all their shares and have never sold any of them and can block the voting nonce the shares are re-registered on an OTC exchange or NASDQ where their voting rights resume as old voting shares IMHO

there are a ton of tax loss carryforwards he can use if he resurrects BOX ships in the hundreds of millions, the incentive is the tax loss carryforwards that are worth money and still can be used IF he gets the business back up and running soon - otherwise I believe there is a statue of limitations on tax loss carryforwards of 7 years - he still has like a few years left so he better get it up and running