Replies to post #28854 on Box Ships Inc (TEUFF)

[temp luvs amy]

Temp has a Shrimp Farm and a crazy idea to repurpose the ships, but wants to negotiate with preferred holders who would control the company in the event of any "change in control." Unless we expect B to control the company behind bars, or continue to control it after being sued for everything, I would consider the logical end to the effort.

Just ballparking the numbers, but if my shares were converted to common, I would own about 80,000,000 common. If there is any change of control, it would be my option to convert, and the option of other preferred holders to do the same.

[temp luvs amy]

Remember, boogaloo owns the majority of the preferred shares which would give him voting control after a conversion.

I just found a paragraph in the prospectus that puts that notion to rest. They were supposed to declare a Special Meeting for Class C Holders (to vote) after the various defaults within 120 days. I never received such notice, but the voting of the Class excluded... "shares held by us or any of our subsidiaries"


ppg : S-54, S-55 "Voting Rights"

Class C Prospectus