Some time ago I was taken to task about a liking for Hot Tuna.Well I hope the taskmaster is watching the screen !!!

Looks interesting.

new kid on the block;I just watch comments made by you guys, but surprised no comments on HTT today ?

That's the end of that then.

The Company has no plans to move into mining.



Friday 11 March, 2011
Hot Tuna (Intnl) plc
Response to Press Speculation
RNS Number : 7879C
Hot Tuna (International) plc
11 March 2011


11 March 2011
Hot Tuna (International) PLC
("Hot Tuna" or "the Company")
Press speculation

Hot Tuna plc, a leading surf wear and fashion brand, notes the recent press speculation and price movement. The Board wishes to clarify that, as disclosed at the time of the Company's trading update announced on 21 February 2011, the Board continues to consider how best to support the planned development of Hot Tuna as a surf wear and fashion brand. The Company has no plans to move into mining. As part of the planned development for the brand, the Company is seeking to raise approximately 1.3 million at 0.14p per ordinary share. The Company hopes to be in a position to announce full details of the placing shortly.





Enquiries:





Hot Tuna (International) PLC

Geoff O Connell






Tel: 020 7440 0644

Pelham Bell Pottinger

Lucy Frankland/ Dan de Belder




Tel: 020 7861 3885

Seymour Pierce Limited

Mark Percy/ Catherine Leftley




Tel: 020 7107 8000

why would they? Like any high street supplier times are tough. With new leaders and the strong brand commitment which has carried them through so far I believe that as the loyal fan base grows so will the company. I for one have been in for some years and will take the long term view that I will see a return on my investment. Check your baggies, are they wearing thin? Then hot hot tuna are the only ones to be seen in.

beebusy

why would they? because MVC did that's the point. And they still might.

They have brought in Melissa Sturgess, She has helped the corporate development of a number of UK listed resources companies.

Sorry dont see the connection, why would a company already struggling, engage in a new venture at a time when mines themselves are in the doldrums with world demand for anything other than gold or silver at an all time low. My partner runs her own jewellery business, when she comes home tonight all tetchy I will suggest that she gets a mule and pick and goes a prospecting !!! And as for Melissa, which is greek for honey bee by the way, she can buy up any of my mining stock that she cares to, they are all the pits anyway.

beebusy

The reason there is a lot of interest in HTT at the moment is because of the appointment of Melissa Sturgess, punters know about MVC they were in trouble the sp was .20 they did a RTO of Orogen Gold Now ORE they have brought in a new board that know about GOLD and Gold mines. If HTT doesnt pull something out of the hat or go down the mining road then there is no hope.

(MVC) Medavinci was previously an investor in a group of portfolio companies focussed on innovative technologies, products and services within the Health and Wellness markets.

I suppose like all these things time will tell.I had an opportunity to get out while fimly ahead not so long ago,I took out two thirds and left the other in as a speculative punt, bet you know what my thoughts are now??

bb

It still looks good if I had the funds I would have a punt, if she can pull something, these could go up nicely.

Melissa Sturgess
Current directorships:
Carlton Resources Plc
Ethiopian Resources Limited
Nyota Minerals (UK) Limited
Nyota Minerals (Ethiopia) Limited
Past directorships:
Churchill Mining plc
Diamix plc (put into Voluntary Members Liquidation)
Sylvania Resources Limited
Washington Resources Limited

I think I will refrain, no use throwing good money after bad, and if she does turn it around I will be very happy with my lot. I have been watching my other little speculation OTC slowly subsiding like a poor souffle!!

bb

Yes that one is on my watch list it's not been doing well lately. Hope you have got some RRR and RGM tucked away.

No I plan to retire 2012 and ditch all this lot. Life is to short to spend watching charts etc. So what I have left I plan to phase out as and when or should I say if and when they get anyway near to breakeven or dare I say a profit.

bb

You will miss it, your be back have a nice retirement dont work to hard LOL.

Melissa Sturgess gone walkabout !! That marriage did not last long, Oh! to be one of the plentiful aussie flies on that boardroom wall.

bb

You were right theres no mining in T shirts not for this company. Fingers burnt for some.

Hmmm! now what are they going to do? Need to raise funds. No street cred. Exec that lasted as long as it took the ink to dry on her contract. Now if I was a Far Eastern clothing producer looking for a good brand name with little fingers in big pies. Total share value less than a 3rd rate bankers bonus. I would be licking my predatory lips.

Well, for better or worse I've bought some HTT this morning. Just a little dabble having sold some profts of my ABH.

with the SP at rock bottom this is purely a highly speculative play,,it could even go down further and eventually go bust! .... on the other hand..it could double/triple from here on any kind of good news! onwards & upwards!

Bet you make money on them!!

The next move to fill the vacancy left by Sturgess will be crucial.They have to scoure the market for somebody with the track record and the cahones to drive them forward in what is a very competetive market. If they find such a person, can they afford them? There is no doubt that if they do find the magic ingredient the market would respond in a positive mode. It remains a punt, but a cheap one with the possibility of being a nice little earner.A little block of 250,000 doesnt break even a church mouses bank but may come up trumps. DYOR!!

Hmmmm! all buys from 1000am until 1250 good volume to??

Now up over 11% and still all buys Buy ratio double the sell ratio,selling stopped at 1030 and been on a roll ever since.

they are to raise the capital they require with a new issue, be intresting to see if it will be over subscribed??

Let's hope it's a nice long hot dry sunny good surfing summer! oh! and lots of people take up surfing !

If this continues I will have to sell my baggies and surf in the buff !!

well - we are at rock bottom!

next stage is bust! or a slow slow recovery in sp if we get the slightest hint of good news...

Ok ok why has our little fishy suddenly woken up????

over 13,000,000 sells today hope they appoint a new director with some get up and go.

This is a nonsense, have just bought a parcel and its showing as a sell so the whole of todays trades are not reliable. It did seem a tad strange that 14,000,000 shares were sold with no news to effect the market!!! Thank god for TD Waterhouse.

214,000,000 + traded today expect some news on the director front soon

Gonna buy more of these too....

Well after finally getting some new blood and promoting a few achievers it looks like something is stirring. A purchase of 535,500.000 a few minutes ago.

ok lets remove the offending digit!!! 53,500,000, 216,000,000 have changed hands in two hours of trading.

Looking out my window it is not baggy weather but somebody is doing something?? HTT Surfs up dudes!!

intend to dispose of Hot Tuna brand

hmmmm what a strange one this is - ditching the tuna brand and into mining for this shell? wonder what the new name will be? wouldnt be surprised to see a bounce here later - usually does

The last time it was even rumoured they were going down that road they took off,Ihave held these since they were itty bitty tiddlers,never liked em!! My friend convinced me they were something to watch?? Yep that friend who had a hugh holding in Gladstone and Oxus need I say more??

lol bb - maybe 'itty bitty tiddlers' could be the new name? good of your friend to give you the tip!???? :-(((

This little fish is gone off!!??

afraid so bb - stating to stink i'm afraid - this is bad for anyone in - i understand the daily mail has an article today for htt? not seen it personally

i dont think htt had much of a chance ever to be honest - the ceo has never had this type of experience before i.e. as ceo, the bod pulled more salary than t/o, i believe all the bod were part time - interests elsewhere et cetera - i wonder if those interests elsewhere were suppliers of htt? never mind....

as odd as it may seem - i bet this goes up now it is only 5 to buy!!! buys seem to be coming in!!!!!

lots of them!!

couldnt help me self - bought a wedge at 0.49 - i need sectioninggggggggggggggggggggggggggggggg lol

if previous dips repeat themselves should be easy cash!!!! does not mean i think this company is worth anything - just means if you buy into this you are as mad as meeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee!!! lol gla

yeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaa on the up lol!!!

lol some jokers reckon asos, sports direct and amazon maybe buyers - LOL!

predict a blue day tomorrow lol! :-))))))

currently at break even!!!

well really is a strange share lol - chair woman resigns after 2 weeks in role, massive (relative to htt) unexplained recent buys (in htt terms that is totalling not far off 200k money not shares!) 1M placing not long ago, new web site - recent order from amazon up 30% etc and in chats i have had a name keeps cropping up - artemis i.b. - seems something is quite likely afoot still havent got to the bottom of it - but i am sitting comfortably on my punt here now and will see - blue tomorrow perhaps - be interesting to see what next rns says - some of their goods:

http://www.amazon.co.uk/mn/search/?keywords=Hot%20Tuna&rh=n%3A83450031%2Ck%3AHot%20Tuna&page=1&rd=1

i see htt have roped in elle macpherson http://www.shredhead.com/Hot-Tuna/b881.aspx

http://www.hottunaplc.com/

apparently concentrating on building US sales and elsewhere now internet multi currency selling up and running

i would not advise anyone to buy or not - but i am intrigued here - perhaps famous last words - lol!!!

maybe the asos connection not that far fetched by some wit somewhere?!

and both rbs and seymour pierce have htt as a buy - in fact reiterate!? still what do brokers know lol!!!

http://www.hot-tuna.com/

Sprat to catch a Mackeral Gibby??

sold most of mine off when they shot up last time then bought some back in recently as a bit of a punt.Be interesting to see what becomes of them and they may yet bare fruit.

hi bb - punt here too - could go either way to be honest - literally a flip of the coin - if it goes belly up so what - if it recovers on an offer or something else nice!!

from reuteurs speaking to franny ball htt chairman (for now lol!) hi lighted slightly interesting bits:

"We will go with the sale of the brand," Francis Ball, who was appointed as Hot Tuna's chairman last month, told Reuters by telephone.

"Hot Tuna (International) will remain as a cash shell ... no doubt they will have to change their name."

Ball refused to name potential buyers of the brand or indicate the deal size.

"Discussions take place from time to time but I have had no written proposal or written offer at this stage," he said.London-headquartered Hot Tuna expects a 65 percent rise in sales for the first four months of its new fiscal year, the company said in a statement.

It expects narrower losses for the year ended June 30, helped by cost cuts.

Blimey - the chart makes F1 ground effect look amateurish.

under the radar????

lol - have a good evening all

New Distribution Agreement

Currently up 26.7%

yep kerrrrrrrrrrrrrrrrrrchinnnnnnnnnnnnggggggggggggggggggggggg

lol lol

out and never coming back to this one lol

sorry to anyone stuck in here - what a dismal one this is :-(((

but ok in the end - that rns today came out the blue :-)))

gla

owing to my somewhat wharped nature I have kept some 350000 which are probably worth at least 12.5 pence as we speak just to see where it goes??!!!

Won a major distrubution contract for Australia and New Zealand and still looking for a buyer?? Methinks short on cash??

A bit of "Friday Afternoon Interest".

Launch of Australian web store and disposal update

still worth holding on to as a long shot??

I'm still in .... just!..let's see how it goes from here!

Gone very quiet??

There's nothing to shout about I guess.

Up 20% are we going to reel in a nice catch???

????????? ! wot's goin' on ?

This from another board....


Hot Tuna has signed distribution agreements across Europe, (massive) Australia and New Zealand, whilst the USA is planned for the New Year.

Hot Tuna has a European / US website and and OZ / NZ website.

It has worked hard to get the brand re-established, through PR companies, and now it has offered the brand and all that it has spent time creating for sale. So someone gets the brand and the foot work has been comepleted (finding, signing agreements, creating websites) all it needs to do is put the brand into its own marketing department and away it goes.

How much would you expect another company to pay for all this?

The money paid goes into a HTT, but HTT will need to change its name a this name will go with the brand. So early next year at the AGM shareholders will be asked to vote on a new name and a new investment strategy.

Thoughts are of buying into gold, coal or r.e.m. The new HTT will have cash at a time that companies are looking for cash to push on with, so te new NTT should be in a strong bargaining position.

So this excitement is not about a clothing company, its about what it will turn in to with cash and the new investment strategy.

Looking good for tomorrow.

They love mining down under but there is a great big shark swimming around that will gobble up a little fishie!! (see the fate of Gladstone!!)

Going a bomb, yehaaaaaaaa

up 31%

Been a good morning, off the boil now. Banked profits earlier.

:-)))))))))))))))))))))))))))))))))))))))))))))))))))))

I am keeping my line in water to see what comes along!!

me too! somethings brewing for sure whatever it is !

Dipped my toes back in this morning , just a small punt. As everything else seems
dead till next week. Some good buying at the moment. Good luck all.

Sitting at break even.

We'll, I'm at break even now... wahoo! just need to 10 bag from here and I'd be reasonably happy!

300 million traded today which shows a level of interest unheard of for this minnow, as I said leaving my line in to see where it goes. I expect a battering!! lol

yep got some left here - obviously not a large amount due to extreme high risk lol :-))))

we are waiting on a bit of news then..........

gla

0.08

-0.04 (-31.91%)

Hot Tuna revenues fall after disappointing year
StockMarketWire.com
Surf wear and fashion brand Hot Tuna (International) posts pre-tax losses of £768,000 for the year to the end of June - down from £1.3m last time.

Revenues fell to £207,000 from £464,000 following a disappointing year with decreasing sales across all its geographic regions, resulting in an operational loss before exceptional items of £0.86m.

Executive chairman Francis Ball said: "While improvement has been made in avenues to market post financial year-end with the launch of the ecommerce site www.hot-tuna.com and signing of an Australian distribution agreement, revenue has not met forecasts and cashflows are not expected to support the business through 2012.

"As such the board took the decision to sell the company's key asset of the IP and stock of Hot Tuna in November.

"Currently the board is working with interested parties and is expecting to present a firm purchase offer to shareholders in January.

"Although strong interest has been shown in the purchase of the brand to date, in the event of a sale not being achieved the board will investigate funding solutions and aggressive overhead cutting while working constructively with the Australian distributor.

"In the event of a sale of the brand and business being successfully achieved, the board has indicated the company will remain as a listed 'shell', with the incumbent directors excluding Marcus Yeoman expected to step down."

Hot Tuna quits USA
StockMarketWire.com
Surfing fashion brand Hot Tuna said overall it was a disappointing year to end-June with decreasing sales over the period across all geographic regions.

This resulted in an operational loss prior to exceptional items of £0.86m.

Operational costs remain controlled at the lower level carried forward from 2010 and have little scope for further reduction. In the event of the business continuing, it is the Company's intention to realise further cost savings by entering distributorships and targeting online sales going forward.

The Company retains Hot Tuna's core brand values of edgy surf/streetwear while seeking to utilise the brand's classic heritage. New suppliers have been sort to provide the highest possible quality within target cost brackets.

The summer 2010 trading period in Europe showed signs of mild recovery with product being delivered to new accounts in Italy generated by the Italian/Austrian distributor. The product was delivered on budget and within customer delivery windows. The UK e-commerce customers reflected slight increases in their modest sized orders as retailers and e-tailers reduced stock holdings and became cautious in product being stocked. Further sales where generated by old seasonal stock being discounted and channelled through markets where full price merchandise was not sold.

At the end of the summer 2010 season Italian retailers had reported good to very good sell through on product and the outlook for 2012 season looked promising. UK e-tailers reported fair sell through in line with UK retail market conditions. UK was signalling a general slowdown pushed in part by UK summer conditions and the start of softening retail numbers. UK accounts purchased product very late after production had been confirmed and in some cases individual styles were not able to be produced due to late purchasing, although online retailers both suffered and prospered from the harsh weather conditions over the start of 2011.

During the financial year the European market showed a decrease in turnover from £0.12m in 2010 to £0.06m in 2011. As such, the Company is focusing on rolling out its e-commerce strategy and repairing relations with our prior customer base.

While sales for the 2012 period to-date are up on the same period last year the difference is not significant and we expect European sales for 2012 to be in-line with 2011.

The Australian market reaction to the new season adult range was positive at tradeshows and a modest increase in the number of accounts buying reflected this. Discounting of old children's range product continued and previous seasons recalled product was returned in to the discount market as 'seconds' product. The children's range was not put back into the market, instead a concerted effort was made to establish back into the market the adults range.

While struggling to recover from the issues of product recall and losing two major retailers in 2010, Australian turnover disappointed expectations and decreased from £0.29m in 2010 to £0.06m in 2011.

In 2012 the Company is focusing on the potential for its recently signed Australian distribution agreement. This agreement is expected to significantly improve revenue from January 2012 with emphasis on the post June 2012 period and the board has begun scaling down operations in Australia in light of this.

The US retail sector has suffered the most of all markets, and sales continued to be dominated by the swim range. A successful Miami Swim Show at Salon Allure in July 2010 boosted confidence with good orders placed by traditional customers Victoria Secrets and Delias for deliveries from November 2010 through to March 2011. The Company had expected these to result in solid repeat orders from January to March, however as the US retail market retreated and the economy softened, accounts pulled back and only minimal orders were received.

The USA market remains potentially the largest market but will require a distribution partner to capitalise on this, as has been successfully achieved in the Australian market.

Similarly to 2010, the modest sales achieved in the US market were driven by the women's swim collection. Total turnover for the US was £0.09m in 2011 compared to £0.06m in 2010 which failed to reach expectations from the prior year.

In light of the US performance, the board has started winding down US operations and expect all trading and overhead expenditure to have ceased by February 2012.

The operational review has highlighted the disappointing sales performance achieved this year, reducing turnover to £0.21 million (2010: £0.46 million). Due to reduced stock ordering, stock write-down was minimised in 2011 and Company posted a gross profit of £0.05 million (2010: loss £0.03 million).

Total other operational expenses were reduced to £0.91 million (2010: £1.37 million), which is attributable to a reduction in both general and administrative expenses and depreciation and amortisation. In 2011, losses from operations decreased to £0.86 million (2010: £1.40 million).

Due to tighter cost control, operational cash outflows decreased to £0.76 million in the 2011 financial year (2010: £1.37 million).

Net cash outflow after changes in working capital and finance costs from operating activities was £0.94 million (2010: £1.68 million), this improvement in 2011 operating cashflows is largely due to a normalisation from the large decrease in payables in the prior year. Total cash inflow over the period was £0.07 million (2010: £0.62 million) which included the offset by the net proceeds from the placing of £1.01 million resulting in a cash balance at the end of the year of £0.68 million (2010: £0.59 million).

While improvement has been made in avenues to market post financial year end with the launch of the ecommerce site www.hot-tuna.com and signing of an Australian distribution agreement, revenue has not met forecasts and cashflows are not expected to support the business through 2012. As such the board took the decision to sell the Company's key asset of the IP and stock of Hot Tuna in November 2011. Currently the board is working with interested parties and is expecting to present a firm purchase offer to shareholders in January 2012. Although strong interest has been shown in the purchase of the brand to date, in the event of a sale not being achieved the board will investigate funding solutions and aggressive overhead cutting while working constructively with the Australian distributor.

In the event of a sale of the brand and business being successfully achieved, the board has indicated the Company will remain as a listed 'shell', with the incumbent directors excluding Marcus Yeoman expected to step down.

Story provided by StockMarketWire.com

0.07

-0.05 (-40.43%)

Much as expected. There are going to be a lot more in this unenviable position in the coming months.On a upbeat note they do have interested parties but at what price?

All the best beebusy, did you get some profit.

Not yet. I have held for years.They would need to be 3p for me to break even!!! And I do not see them making those giddy heights.Even with the release of the trading figures its no worse than most of us thought and I see there is a hugh amount of buying going on and it is rallying on the back of this. There is a quick buck to be made with careful placing.But for me the interesting scenario is the hereafter!!

Happy new year beebusy and all the best.

Nearly 500,000,000 shares changing hands by 1300 hrs thats going some!!

Hot or not, can't help feeling tuna is an endangered species....

I think they are about to be barbequed!!! Do you ever get the feeling that you want to kick your own arse??? I should have taken the hit last week and ditched them while up. Bloody crystal ball is junk!!!!!!!!! lol