Hot Tuna Share Discussion Threads

[clocktower] 14/11/2011 13:35

LOL - Sales up 65% on first few months - 65% up of diddle swat is what?

Any tax loss value in the company would have to be from a profitable concern in the exact same product field.

The directors would ramp a dead turkey to keep the jet style living up imo. Whizz - great chance of getting a huge order from Hawaii - for a new brand called Jolly Suckers - so lets have a jolly lads and you never know we might find another sucker to give a another million or two for another couple of billion shares. :-)

[solarno lopez] 14/11/2011 13:31

For clarity tax losses can only be used if the business is of a similar nature namely the RAG TRADE

[kinghorm23] 14/11/2011 13:30

Come in arch pump and dumper topinfo !

How on earth could he ramp this after that rns this morning ?

[5uchchi] 14/11/2011 13:16

Once the brand is sold it becomes a shell company with millions of Tax losses for a number of years which can be utilised by the new company if any reverse take over is planned. It would be a Tax heaven for the new company atleast for 4 years as hot Tuna was losing money very badly. I hope I am right but mangement has to come back & say which direction they want to pursue such as oil,gas,mining or financial then market will wake up and there is a possibility that it would jump to 0.30-0.5 within a day.Even Today they could have informed the market about their direction of future investment.May be they need to bring some one with experience on board before any concrete announcements. This is only my view I hope it is ok.

[moab47] 14/11/2011 10:39

Highlights the dangers of AIM, they raise £1m in March and then dump the brand now. They will get a pittance for it. Pretty shocking what has gone on here, you could see it a mile off this would fail.

Just a case of holding it now and hoping they get a resources reversal or something

[solarno lopez] 14/11/2011 08:38

grossly overvalued

[cliley454] 14/11/2011 08:38

News didn't seem too good but plenty of buyers so maybe they will get a good price for the brand.

Off topic, take a look at MBW, I've just posted some interesting research on the bb.

[kinghorm23] 14/11/2011 08:04

Agree, but price will be very low 0.05 this time

[solarno lopez] 14/11/2011 08:04

there has to be a fund raise and it will be to the chosen few

[kinghorm23] 14/11/2011 08:02

Jeez people are buying this rubbish, you could not make it up !

[solarno lopez] 14/11/2011 07:47

And Yeomans abiilities are questionable AVISEN etc

[krowelet] 14/11/2011 07:46

Come back Melissa, all is forgiven.

[solarno lopez] 14/11/2011 07:45

But we have said its overvalued for months KINGHORN

[kinghorm23] 14/11/2011 07:42

lol

"Traffic to our website, http//www.hot-tuna.com, (which was launched on 22(nd) September 2011) is building well having been up 29% in the last week of October (versus the prior week) and a further week on week advance of 23% in the first week of November. However to date, conversion rates are disappointing and we have therefore lowered our forward sales forecasts from this channel"

And remember the turnover is already tiny, this is probably the most overvalued
stock on Aim because it's not worth 0.

Topinfo will be the first one out at 8.00 and 1 second watch for his dump !

[topinfo] 14/11/2011 07:17

DJ Hot Tuna (International) plc Trading and Business update

TIDMHTT

RNS Number : 0011S

Hot Tuna (International) plc

14 November 2011

Monday, 14 November 2011

Hot Tuna (International) Plc ("Hot Tuna" or the "Company")

Trading and business update, proposed disposal of the Hot Tuna brand and board changes.

Hot Tuna, a leading surf wear and street wear brand, is today providing a trading and business update.

Overview

Revenues for the year ended 30 June 2011 will be in line with the Board's expectations. As a result of the Board's continued focus on costs control during the financial year, losses will be below that previously expected by the board.

Sales during the first four months of the current financial year are 65% ahead of the comparable period for last year with an improved gross margin. Overheads are higher than last year as the Company has funded the design and launch of its website, strengthened its management team, increased PR and marketing to stimulate both revenue growth and increase brand awareness.

UK

The winter merchandise was delivered to the UK, in accordance with its specification, from our new supplier in Sri Lanka. The Amazon orders were delivered on time and the range was added to our on-line offering on 20(th) October 2011. Detailed assessments versus our major competitors confirmed that our merchandise compares favourably in terms of quality, design and price.

Traffic to our website, http//www.hot-tuna.com, (which was launched on 22(nd) September 2011) is building well having been up 29% in the last week of October (versus the prior week) and a further week on week advance of 23% in the first week of November. However to date, conversion rates are disappointing and we have therefore lowered our forward sales forecasts from this channel.

In light of the ongoing difficult retail conditions in the UK, trade sales to multiple and online retailers for spring/summer 2012 are currently lower than hoped, or late in being confirmed. We are flexing our production planning accordingly.

Europe

Whilst spring/summer 2012 orders from our distributors in Italy, Austria, Germany and Denmark are ahead of last year, they are currently below budget.

Australia and South East Asia

Trade sales to independent retailers continue to show good growth and expectations for November are strong relative to last year. Online interest has been encouraging and we are launching an Australian web store later this month.

As announced in the trading update on 5 October 2011, the Company anticipates that its Australian distributor agreement should be signed this month. Sales projections by our distributor partner are very encouraging.

In conjunction with our prospective new Australian distribution partner, we see a great opportunity for Hot Tuna in South East Asia. Brand IP is being documented country by country prior to negotiating new distributor deals.

USA

The restructuring of our US operation is also close to being concluded with our commercial office and warehouse due to close as soon as all stock is cleared. Distributor discussions in the US are on-going with a view to appointing distribution partners early in 2012.

Online interest in the US has been encouraging with over 6% of visitors to http//www.hot-tuna.com coming from the region. We will activate a price change facility onto our website this month, which will allow USA customers to view all our prices in $US.

Commenting on current trading, Francis Ball, Executive Chairman, said:

"We have made good progress with Hot Tuna. Sales and margins in the first four months of this financial year are well ahead of the same period last year. Our PR campaign is proving exceptionally successful in getting the Hot Tuna brand in front of relevant young people. The launch in of the transactional website in the UK in September and the on-going development of an important trading relationship in Australia and New Zealand are exciting. The growth of sales in Australia indicates good awareness of, and support for, the Hot Tuna brand in its homeland.

The retail environment continues to be challenging in the UK, US and continental Europe which is undoubtedly impacting revenues in the current financial year. Action has already been taken to reduce costs. However there is a need to invest in and promote the Hot Tuna brand, and our rate of growth, whilst encouraging, is slower that previously expected."

Proposed disposal of the Hot Tuna brand

In light of current trading being below budget, and the Board's belief that it would be difficult for the Company to raise new investment from existing shareholders for the development and promotion of the Hot Tuna brand, the Board believes that shareholders interests will best be served by seeking a buyer for the Hot Tuna brand and all the assets and liabilities of the Company.

Board Changes

Francis Ball, Geoff O'Connell and Oscar Verden have indicated that, on completion of the sale of the Hot Tuna brand and the assets and liabilities, they will step down from the Board. Marcus Yeoman will remain on the Board and a new director will be appointed. The Board will, following completion of the sale of the Hot Tuna brand focus on identifying attractive acquisition opportunities for Hot Tuna (International) plc.

Commenting on the proposed sale of the Hot Tuna brand, Francis Ball said: "The Board and management team remains enthusiastic about the future of the Hot Tuna brand, and expects the current rate of sales growth, and improved margin, to be sustained. It is unfortunate that the current equity funding environment makes it very difficult for us to raise further capital and as a result we believe that the future of the business, its customers, distributors, suppliers and employees is best served through a sale of the brand."

AIM Rules for Companies

The Board anticipate that any sale of the Hot Tuna brand will be deemed to result in a fundamental change of business under Rule 15 of the AIM Rules for Companies and therefore will be conditional on consent from the Company's shareholders at a general meeting. Following a sale of the Hot Tuna brand the Company will have disposed of all of its trading businesses and therefore under Rule 15 of the AIM Rules for Companies it will be re-classified as an Investing Company and will be required to adopt an investing policy, which must also be approved by the Company's shareholders.

Enquiries:

[topinfo] 11/11/2011 20:37

Days high, hard luck again Guys! lol

[clocktower] 11/11/2011 15:31

If topinfo is doing what King has suggested, then soon others that have bought into this dog will not be able to sell other than at a loss. We shall see if this takes a big dip before close.

[topinfo] 11/11/2011 15:26

Well this dog as you call it is up 19% so the de-ramping job aint worked which is even better to see than the share price increase to 5th on risers. LMFAO

[fand4ngo] 11/11/2011 15:18

Yup its a dog and one that is out performed by many a corner shop.

Difference is big companies don't buy corner shops but they might buy a mickey mouse outfit just for the logo. I HOPE.

[clocktower] 11/11/2011 15:11

Lets just look at the last TS on 05.10.11

Take one statement from it and think how little turnover the whole company did last year - and how little of that was due to Amazon:
"
The e-commerce website successfully went live on 22(nd) September www.hot-tuna.com. The company has a PR, marketing & social media campaign now being rolled out, aimed at the 15-25 year old market. The new autumn range will be added to the collection on line this month. Amazon has placed a bulk order for delivery in October which is 30% up on last season. "

So 30% extra of the whole years business for the whole company would be around £20k worth - what a farce! Are 2011 results going to show turnover of £80k? LOL

Over 2 billion shares in issue with the last ones being placed at 0.1

Ramp all you like it would take more than hype to save this - I wonder if they offered Amazon a S.O.R deal or a scan as sold deal to get a tiddler order - I bet they had no cash for the total order within normal 30day terms.

BEWARE

[topinfo] 11/11/2011 14:46

Well something is going on. Some massive single trades and massive volume.

[fightback999] 11/11/2011 14:46

0.35 will be realised if true.