Hot Tuna International up 80 % (0.67 points) after raising £300,000 by re-pricing their shares at 0.3 points. However, all this seemingly good news comes with some bad; the company was actually forced to raise the capital, which they could not get new bank loans for, in order to fulfill existing orders.

story via – http://bit.ly/150VWD

The publisher of Surfing, Surfer (and 75 other magazines and 90 web-sites), filed Chapter 11 bankruptcy.

The most interesting part of the story to me is that a company with an estimated $1-10 million of actual assets somehow managed to get itself into $1 billion in debt, yes that’s billions with a “b“. Furthering my flashbacks to the banking fiasco, is the sheer number of creditors the company maintains, which is estimated at 50,000-100,000.

story via: http://bit.ly/ld5pG