Tytan Holdings Inc (TYTN)

[Anvil]

Angel, you bring up some good points:

1. I am sure ML knows there is concern about sales. I am confident the financials are done, why not publish them. Could be good, could be bad, could be indifferent.

But if history is the judge, it says don't believe the quarterly numbers. I know I keep harping on this, but if you go back to 2010, Q4 not only had no sales, it lost $200k worth of sales. 2011 saw Q4 end up with $17k of sales. Now I don't believe any of those Q4 numbers.

What I believe is TYTN moves potential forward sales into the current quarter and then provides an accurate accounting at year end, which always has Q4 and a terrible quarter.

So TYTN could say they did $200k worth of sales in Q2 or $50k, there just is no integrity to the financials. And that is ML's fault.

2. Lack of communication is a big problem. If you look back at 2011, one of the major accomplishments was completion of the one year marketing study and launch of the filter program. 8 months later, nothing on that front. Numerous other examples to cite, but point made.

3. In terms of the dealers, I think you are misreading ML mail bag message.

Also, we are working for ways to have Dealers linked into our website from their websites"

I understand this to mean that dealers will have a link to TYTN but TYTN won't have a link back. Now if I am a dealer, and you know that TYTN is trying to establish an internet sales program, why would you have a link to TYTN which could just as easily sell you the product, maybe cheaper.

Also, having a dealer link on the TYTN website is good advertising for the dealers.

This is one of the most stupid business decisions ML has made. And in fact, if someone wanted a tytan, they couldn't find a local dealer by looking at the website.

4. I don't know what the advisory board does or whether they are listened to. But what they do, it just isn't working.

As far as Bogden, he went overboard, no doubt. But look what that decision cost TYTN, the guy bought 13 tractors in a year. That's probably more than TYTN sold all of last year. Not to mention, due to that decision, and Bogden's ridiculous crusade, TYTN lost all dealers and ML had to tap shareholders for a cool $900k last year, causing the share price to crater.

IMO, if ML doesn't change asap, look for liquidation in the next 6-9 months.