Box Ships Inc (OTCMKTS:TEUFF) filed a Form 6-K, with the SEC to update on a Securities Purchase Agreement and issuance of convertible notes. The agreement had been signed by the company on August 5, 2016, with Kyros Investments Ltd. Under the agreement, Box Ships would acquire $250,000 in cash, for a convertible note of the same amount. The convertible note carries an interest rate of 8% per annum and a maturity date of 1-year from the date of issuance.

In addition to this, the convertible note can be converted into share of TEUFF’s common stock, at a par value of $0.01 per share. The note also carried standard anti-dilution protection and also cannot be converted if the move would result in the investor owning more than 4.99% of the Box Ships.

Earlier, the company filed another Form 6-K, to announce that Box Ships would be increasing the number of its shares outstanding. Box Ships had approximately 93.119 million shares outstanding, as of July 29, 2016. However, now one of the investors has exercised conversion, worth $30,000, under a previously signed SPA from April 2016. As such, the number of TEUFF shares outstanding is set to increase.

In addition to this, Box Ships had provided a corporate update to its shareholders, as it completed its 1H2016. The CEO of TEUFF, Michael Bodouroglu, claimed that the entire shipping sector had been facing cyclical lows. He stated that in his 35-year experience, he has seen several cyclical lows like the current one and they prove to be financially difficult times for the industry. Mr. Bodouroglu revealed that Box Ships strategy involved the preservation of cash and liquidity, through the deferment of debt, so they could be ready when things change for the better.

Box Ships Inc (OTCMKTS:TEUFF) recorded a gain of 19.33% in terms of its share value on a trade volume of 8.98 million, during the August 10 trading session. The stock closed at $0.0179 per share.

Lotus Bio-Technology Development Corp (OTCMKTS:LBTD) Focused ON Expanding Organic Food Portfolio

Lotus Bio-Technology Development Corp (OTCMKTS:LBTD) has signed a number of deals as it looks to take advantage of China’s organic food market that is growing at an impressive rate. Deals with the likes of Hunan Cangshi and Phyto Nutraceutical Inc are intended to bolster the company’s prospects in the industry as more people turn to organic consumables.

The total value of the country’s organic food market more than tripled between 2007 and 2012 further affirming why Lotus Biotech is in for a bright future if it can accrue some market share. Some of the measures that the company has put in place to advantage the industry’s robust growth include coming up with new products.

 A recent study showed that more than 80% of Chinese consumers in urban areas are more than ready to pay more for organic food, further validating Lotus Bio-Technology Development Corp (OTCMKTS:LBTD) prospects in the industry.