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Mark owns the inventory outright there is no flooring costs. I am looking at adding another 406 to my collection of tractors.
Which daughter? The one married to Howard's son or the one married to the eye doctor?
Mark flew to China today. He will be in China on Friday.
Very nice post Cowboy. Yes folks I am still around sitting and watching from the sidelines. Tytan is alive and kicking and Mark is continuing to work at growing the company. The YTO visit was a step in the direction that Mark has been working on for years. Tytan will grow, so I am going to continue to sit on my investment in Mark.
SWT now sells an old model that Mark designed because Mark has add improvements to the tractors that he is selling. the 324 design which SWT sells as a 254 series one was sold by Tytan in the first year of operation. The 334 Tytan replaced it and included shuttle transmission with the shifter mounted on the dash. If you buy a non Tytan tractor the F/R lever will be floor mounted. Mark has them moved to the column area. The chipper that came is a preproduction model and there are going to be changes to the production model to make it more appealing to the American market.
My wife's Toyota was built by Subaru in the US which is the same thing that Mark does. He owns the molds for his hoods, tires, he has patents pending on the chipper and the four in one bucket. Tytan products are built in China for the US market and if anyone tells you that they are just re-badged They don't know what they are talking about. I have worked on Jinma, YTO, Benye, SWT, Yantai and about six other Chinese manufactured tractors and there is a difference in Tytan tractors.
SWT is just proud that they were associated with Mark at one time which is why they have the picture on their website showing the tractor that they were building at that time for Mark which was taken in Kalama 5 years ago.
And if you really want to know SWT has a picture of a old model 324 on their website as they are free to sell it to anyone because Mark has redesigned the tractors that he is selling. By the way you can see I-5 in the background and as far as I know I-5 doesn't get close to China.
http://weituo.en.ecplaza.net/4.asp
In almost every case, no matter what people tell you, Rule 504 Placements do not create free trading stock
I will always try to answer questions, it does no one any good if we do not share what we know.
No to grow a company. I don't see them needing increased capital after this year.
The loan that Cowlitz Bank called is being negotiated at this time. Interest payments are being made. There is no reason to pay down a loan when the amount to be paid has not been determined.
Cash on hand at beginning 15,618
Cash on hand at end 68,748
If the cash increases then the cash flow has to be positive. Cash flow from operations is that, cash flow from the day to day operations, lights, heat, advertising, etc. The salaries can be taken out as a cost of sales. Sell a tractor and take out the commssion paid to salesman you still pay the taxes on it. If a large investor buys a 504 placement that cash is included in the cash flow of the company and not excuded from the cash flow.
There is no accounting trick, the bottom line in cludes the payroll expenses. there was not a negative cash flow. Tytan has account codes from 100 to 1000 or 900 different account codes to keep track of expenses. Those expenses are combined by the accountant to show the financial health of a company. Federal law is very plain in this matter all expenses have to be in the reports. Payroll is not an individual line item in the second quarter report but it is included in one of the line items that is there so there is no negative cash flow. As far as Mitch until the courts decide that it is uncollectable it is collectable.
I found nothing odd in this report. The company reported a profit and has more inventory.
Yes, the money has left the company is included in another line item in the cash flow statement.
The accountant choose to combine it, which is okay and GAAP.
Mark went to China and that is not cheap so higher expenses is expected.
Once again, Mark went to China and there are expenses to do that. Costs from quarter to quarter don't always match and personally I would be more worried if the numbers in an quarterly report didn't change.
The bottom line is that retained cash went up and TYTN made a profit. You can pick out the individual line items and debate them all day but the truth is that in a down economy when you can't get a bank to finance a tractor purchase Mark's little company is growing. It's not growing fast enough for some, so what it is growing. I am expecting Mark to put out some exciting developments in the near future which will leave those sitting on the side lines wishing they hadn't been sitting there.
No, it is the cost of sales. The bottom line is the bottom line and the accountant is a former IRS agent. The inventory has gone up and is on a FIFO basis with the cost as not the retail price. Retained cash is also up (think cash in the bank).
Of course I am not selling and on the way to Portland there is an old bank building that now has Tytan Tractors parked in front of it. It is right next to the Clark County fairgrounds. Quiet yes, moving forward yes, okay with me absolutely.
Stopped by Tytan and saw the new mini, it is impressive. Saw the trailer mounted chipper and it also looks good.
With all the implements that I have on the farm 99% from Mark I am running in the neighborhood of 60K in implements. If I only owned one tractor I would have 19K in the tractor that would operate all of the implements. There is more money to be made in implements than tractors and most people do not realise that they have spent that much on implements as 1500 here and 2000 there does not seem like a lot when you need the tool but it adds up over the years.
It is correct that the tractors that Mark is selling are made under contract by Chinese factories. Other manufacturers like TYM and HP also use Chinese factories to build their products. Mark owns the molds for the tractors that he is importing so he has the exclusive rights to the Tytan tractor worldwide. Similar tractors are available but if you come to Kalama you will see them being worked on in Mark's shop and Mark getting parts for them. What Tytan has over on everyone is the parts and service that Mark is able to provide because of his long relationship with the Chinese.
Okay, so now that I am able to be off some of the pain meds I drove the 10 minutes to get to Tytan in Kalama. Mark showed me the new dump trailer 1.5 ton and the new log spliter that are at Tytan right now. The trailer mounted chipper is expected soon and I will be going in when it comes to see it. When I got there they were busy and Mark said that lining up dealers is going good.
Tytan is growing and will continue to grow. If anyone wants to sell I am still buying.
Okay boys & girls, in your efforts to do DD on TYTN could we avoid contacting Gary Lynch directly, Gravely/Ariens or anyother dealer that is not a dealer yet but in talks to become a dealer. Tytan will grow faster if you don't have people sending emails to a company CEO that is in talks with our company's CEO which can be concidered contract interference. Tytan will have some excellent news coming out in the future. Only a farmer can understand that you plant seeds and leave them in the ground to grow, you don't pull them up to say why haven't you grown yet. Tytan is a buy stick it in the drawer and ignore it.
Thrown from horse, broke back. Out of the loop for a bit but back soon.
Call 360 673 2278 at 9:00AM PDT and ask they will tell you.
A rough guess with Marks cost structure would be 90 to 120k for the 140hp.
If I was a betting man I would say 6 cylinder around 7.2 liter displacement. If my Chinese was better would tell you for sure.
You are close to what is going on and when the financials come out shortly then the people saying the sky is falling will see that it was an acorn.
I just got back from talking to Mark face to face. While there is a lot of speculation on the board about dilution Mark told me that not one share has been issued from the authorized share increase. I know from driving by 4 or 5 times a week that he is selling more tractors than he did in the first quarter. Based on what I know about his business it would be my opinion that the second quarter financials will have much better numbers than the first quarter financials. I would like to thank all that are selling cheap right now as it is allowing me to buy more a very good price. There is much more coming down the pipe that will show that Tytan is not going away and in fact is going to be a very sound long term investment.
I got paid more as HMEM than Mark makes at Tytan
Mark never releases numbers of tractors coming or when they will be here to anyone. He has tractors in stock that he is selling right now so a shipment of additional tractors add to the stock of currently available stock, the company is not sitting still because the shipment has not arrived at all. Mark will tell us all when the shipment arrives and I will go down and take pictures, video or whatever to show it the board.
Mark's daughter Heather
I have worked on every tractor make you can name, from Waterloo Boy to Zetor and they all have one thing in common under 85 horsepower made overseas. That include all the big names that I could name. Farmers look at the bottom line and as far as a tax deduction for a tractor you have to lay out the cash to take the deduction. So how would you spend your money $11,000 for a bare 18hp utility tractor or $11,000 for a 30 hp utility tractor with a loader. Mark's product is a hugh valve for the farmers and they will go for it.
Yes they are needed for the future it is that it was recomended that enough be added to the authorized shares so that they didn't have to go back and add in the future. In one way it was good to add them in one shot as all the fuss and bother can be done with and Tytan can get back to business. If Mark had added just enough to the authorized to do the next phase, remembering that all the old currently authorized shares had been issued, he would have been forced to go back to the well many times. Mark is a fugal man when it comes to business, we spilt a two cheese burger value meal at Mcdonalds yesterday, so I don't see him issuing one share of this newly authorized stock without a damn good reason that makes money for Tytan.
Vortmaximun, Mark gets more e-mails a day then there are posts on ihub and he picks one or two at random to answer and he tries not to keep answering the same person all the time. I can tell you that he does read each e-mail and from that he gets a consensus of the question that is being asked that day and he answers it. He has not gone cold to your questions your just not up in the rotation right now. Everyone gets a turn and your turn will come around again. Mark is one and we are many and he is trying to build an international corporation which takes a lot of his time. That e-mail was from Mark and it did not have any SEC restricted information in it or information that would cause Mark to get into trouble. Mark was given some advice to raise the authorized shares by some people that are a hell of a lot smarter than me, he is not happy at the current outcome. He has recieved some pretty hateful e-mails since that news came out and Mark has built ALL of his businesses by keeping people happy and that is what he is working toward at this time is putting a smile that an undertaker couldn't wipe off your face.
He keeps information about shipments to himself. Only Mark and Mr.Wu (Mark's agent in China) know about the shipment. Keeps parties(competitors)from making false claims that keep shipments tied up in customs.
We can have differing opinions of how Mark pays for the merchandise. But I did work for Mark full time as his bookkeeper before it was a stock company and then when Mark sold a tractor he did not have flooring to pay so a tractor like the one he just sold to Yak pays the freight on at least 3 containers maybe more. The factories have to have a percentage of the money up front to ship and Mark pays the rest upon the safe arrival of the tractors in Kalama many times after the tractors have had deposits placed on them by other dealers.
Mark will sometimes let out hints as to what is going on, this time nada. His lawyer or whom ever has put the fear of the SEC in him on this one. I cannot even postulate a guess as to the direction that Mark is headed with this one. So, I am going to sit down, buckle up and enjoy the ride.
Mark has always used current sales to buy tractors. The increase in A/S is for something else.
I have no knowledge of a pending PR I wish I did.
One of the reason that could possibly explain the increase in Authorized shares is that the company had none in the bank, as it were. Mark has no intentions of letting these shares out to dilute us. While the lunch I had with him was mostly about brakes and how we could design a better tractor brake system, he was absolutely mum on what he is doing other than "it is big, Bob" and "I cannot let a whisper of what is going on out, it would be big trouble for me.(Mark)". Yak knows who I am and can confirm that Tytan does call on me for technical services, because he talked to John while at Tytan. Yak you look good in the picture Mark took of you too. I will be continuing to buy and hang on to every share that I can.
It is a working lunch on a project that will benefit Tytan. t was the only time that we both could get free.
Authorized shares is not issued shares. As of right now the number of shares trading has not changed. You have to remember that Mark is dealing with some very big fish from Australia and China. He retired shares before raising the number of shares issued when it would have been easier to raise the A/S and issue shares. Yak has meet Mark and I think that he woud tell this board the same thing, Mark's plan is to make money not only for himself but the TYTN stockholders as well. I have a lunch appointment with Mark tomorrow to talk about other items and I may have other items that I can share with the board tomorrow after 3:00 EDT. I am not selling any of my shares and will continue to hold.