Replies to post #28751 on Box Ships Inc (TEUFF)

[munhoi]

that last toxic financing that increased outstanding shares by 28 million plus was not needed, as Paragon and Allseas owed Box Ships over $ 3 million in receivables, yet the CEO intentionally diluted Box Ships for just a few hundred thousand dollars , the CEO goal was to liquidate the company to get the free ships were the sale values exceeded the liability on them so he bought them for $2 each and sold them for $2.9 million in gains in a few months

the CEO intentionally diluted the shares to try to zero them out as he was the largest preferred shareholder , in this way he got the ships for free and the company for nothing thru the liquidated process

it was evil to the core against every shareholder interest and he raided the company since its IPO to enrich himself

what a mockery of the SEC

[munhoi]

I dont see any documents posted on this site with Mrs Timmerman ????

[munhoi]

they created both public companies as a means to use his private companies to do many contracts and deals to siphon margins off of Box and Paragon making them unable to make any money and once he siphoned every last dollar he could he went on with the dilution to try to siphon more money and then decided to liquidate when shareholders caught on and try to stop it and he then intentional wiped shareholders clean as a means to avoid any future liabilities thru a thru a BOD which was just him and his buddy to take all the spoils , by diluting shares to nothing he then got company for nothing using a self dealing liquidation process knowing the ships net saleable values were worth alot more in the open market - he stole them, then rid Box ships of the receivables due them from Allseas of $2.8 million plus the $ 3 million or so in ship sales profits , he stole close to $5.8 million just from the liquidation IMHO

[munhoi]

personally I doubt that is the reason Tadlock disappeared, more either he ran into personal financial mishap like Chu did or the weasel CEO had more resources to fight off Tadlock's attempt for justice

best stock market in history, best liquidity in history, best bulker rates in years with bulk ship shortaages in 2021 brewing and this CEO has not restarted this company because he is personally doing extremely well now from his private fleet and companies made off the backs of Box ships shareholders


he literally squandered billions of IPO money and subsequent issuances off the backs of many shareholders and swindled all of us IMHO and then with the same two face lie - we are looking out always for the benefit of shareholders with his last 1,000 to 1 RS proposal that would have wiped out shareholders and indicated on the proxy its for our benefit


not even Satan would have been more evil IMHO

[munhoi]

apparently they incorporated in Marshall Islands where there is no civil law against swindling shareholders


but since the shares were registered with SEC , they are still under Delaware laws for SEC purposes

I agree we need legal justice and a settlement worthy of the crimes committed

[munhoi]

any legitimate financier with half a brain would know how to restart this company but he hasnt because he wants to start another scam atm withdrawal company iMHO because banks dont trust him

he could put two ships from allseas or just even one and start the company with one ship moved from Allseas, even if he sold the ship from Allseas to Box and put a loan due back to Allseas etc. many ways

although IMHO he robbed close to $5.8 million from Box Ships during liquidation that should returned first etc.

the Audit firm should be iiable for not catching self dealing transactions and shareholders can sue the Audit firm , the outside director , etc. for not revealing the fraud etc.

[munhoi]

he wont restart it because the CEO only benefits by running a scam ATM shareholders business model and now shareholders caught on and stopped him from continuing to rob shareholders the CEO has no incentives or no business ability to make it on his own merits - the CEO was only in it to rob shareholders period IMHO