Tytan Holdings Inc (TYTN)

[Nikodemos]

No I don't think that's a fair apples to apples comparison, for
a wide variety of reasons actually:

First, TYTN is being built with much more forethought than Mark
had with Rhino (it was his first go-around). Mark was flying by
the seat of his pants, taking big risks, gambles & paving the way
for what he thought was best for the long-term interests of his company.
THAT, attitude & approach has obviously served him well
here, now, but his experience, contacts & know-how is vastly
different then it was back then.

Second, as I said earlier, the higher one plans on developing
a building dictates the materials, breadth, & depth for example
of it's foundation. Mark's foundation for success has been well
documented & put in action with Rhino (Price, Value, Fuel Efficiency,
EXCELLENT Service & Parts, etc) & he is looking to
go WAY PAST Rhino...so the prep work & his taking advantage of his
now-extensive knowledge of how to do this SMARTLY means way more
to do!!

Third, the share structures are likely non-comparable b/n Rhino
& TYTAN. The fact that Rhino was a private deal makes evaluating
the financial exchange somewhat difficult. Some of the details
of that sale might include payments still made by Rhino to Mark
for all we know...anyway, we don't know really what the valuations
are to compare them appropriately in my view.

Fourth, Mark is already owning molds, changing designs, KNOWING
WHAT HE HAS (in the Benye Design, for example & how valuable
that is to his business ESPECIALLY considering the price ONLY
HE CAN GET IT FOR in the U.S. & Canada) which is something he
NEVER had with Rhino. So, in this way, for example (& in my
opinion) Mark is WAY AHEAD of RHINO, or where RHINO ever was!!!

Fifth, Mark had about 100-120+ dealers established nationwide
with Rhino. Here in this incarnation of his current Tractor
Company, TYTAN, he has made inroads into having TYTAN Stores
that are close-by & he can oversee...he WANTS to establish the
TYTAN culture, way of doing business & set the tone for the
larger & broader expansion...stay close to the customers as
he builds this while listening carefully & responding to their
needs. Moreover, TYTAN will have as good a structural chassis
& body as ever built in the Benye & cosmetic upgrades that will
be appealing & modern...a tractor without peer....he will NOT
JUST be selling tractors like everyone else. TYTN will have the
BEST at the BEST PRICE. AND the value issue, for implements,
design changes (gas tank at rear of tractor, standing level as
opposed to getting on top of the rig, etc) requires that salesman
UNDERSTAND WHAT MAKES these TYTAN's BETTER, DIFFERENT, etc..
THAT, in my opinion, will require a bit of teaching, educating,
& demonstrating to staff...This is something he had & probably
liked to do with Rhino, but here it will be more important as
there is FAR MORE value that needs to be conveyed.

Sixth, Financing will be a MAJOR component to the ducks being in
a row. I don't know what Mark had set up for Rhino, but financing
will be incredibly important considering the economy & competition
as well as current tax laws (which allow for 100% amortization
of capital expenditures this year). That will help TYTAN move
forward more quickly than it otherwise could. The
market will be more challenging this time around & therefore in
my opinion, so too the "foundational" aspects of the business.


There are a multitude of other reasons that I will NOT get into
here. But, let me just say that from my research it is clear that
TYTN is poised to be FAR LARGER than Rhino EVER WAS. Another
quick & "small" example of this is how TYTN already has a
world-wide "presence" with Weir & Harrod, how they ALREADY have
EXCLUSIVE RIGHTS to US & Canada...Mark did NOT start with these
ASSETS when he began Rhino.

All in my humble opinion of course. Most EVERYTHING I have written
here may be verified so I am NOT trying to convince anyone to
BUY & please make your own investment decisions as I am NOT here
to provide investment advice.


I hope I answer the meat of your question. If not, let me know
what & I'll do my best to continue.

Niko