Welcome NoWhammy! We honestly don't know for sure. The paperwork & board approval was granted about a month ago for an A/S increase.
We know the CEO has big plans for this company he has been working on planning & organizing over the past 5+yrs BUT, he has not increased the O/S nor announced what specifically those shares WILL be used for.
We know this:
NOTE G- COMMON STOCK PUBLIC FLOAT The CEO, Mark Leonard, returned to the Company 368 million shares of his common stock, which were cancelled. The Company subsequently issued additional common shares in a series of 504 private placements to raise $140,000 in capital.
We also know that China factory terms, including this recent cash infusion, plus current sales DO NOT directly indicate a need for operating capital.
We also know TYTN has plans for a coating patent, a financing arm, & have engaged in talks with the Chinese about a few business opportunities that have been intimated. So, we have ideas & have been speculating but until the CEO tells us, we aren't directly informed so to speak!!
3. Tytan hopes to be able to offer financing for both wholesale dealers and retail customers, which will be a first for a company in the economy priced tractor sector. Tytan is hopeful that this program will be available in the 3rd quarter of 2011.
5. Tytan also purchased a patented special coating that enhances fuel efficiency and reduces diesel emissions. It appears from various testing so far that emissions can be reduced by 4-8%.”
Our Goals for the remainder of 2011: 1) New competitive inventory financing loans for our dealers and customers. 2) A North American Sales network of manufacturer representatives established and working in the field. 3) New product seeding started with new, carefully chosen dealers. 4) Expansion of the engineering and mechanic staff. 5) Two new Tytan owned stores open and operational. 6) We anticipate that sales will double with good profitability (since the onetime manufacturing costs are paid for). 7) Tytan’s tractor supplier in China expects to be opening a brand new, state of the art manufacturing plant with special focus on EPA compliant tractor engines.
Welcome to TYTN, 100K shares is a great start, and will be worth a lot of money in the very near future.
Here is the PR that the CEO "Mark Leonard" gave us in light of the increase. Hope this helps.
Press Release Source: Tytan Holdings Inc. On Friday June 17, 2011, 8:30 am EDT
KALAMA, WA--(Marketwire - 06/17/11) - This week Tytan Holdings, Inc. (Pinksheets:TYTN - News) increased the authorized stock. This increase will allow Tytan to bring in new investors, which in turn will allow Tytan to accelerate their business plans.
There has been NO change in management.
More press releases to follow as these developments progress.
Mark has experience in building companies, but this is his first publicly traded company. My opinion is Mark made a rookie mistake of issuing way too many shares at one time. His thought process may have been to issue shares for the foreseeable future for anything that might arise. If the shares are mostly for the Chinese exchange or for a spin off company then the shares could be a good thing for current investors. If he intends to use them all for growth by dilution then the share price will have a hard time making gains!!