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Replies to post #58493 on Tytan Holdings Inc (TYTN)
09/21/11 5:40 PM
Management’s discussion and plan of operation.
1. Prior to the Recession of 2008, buyers were able to purchase Tytan products with 0% down and low interest rates. Banks are now requiring potential customers to place 30% down and have credit scores 700 and higher. With buying interest down anyway due to the Recession, it was even harder for buyers to acquire our products, consequently our sales flagged.
2. 2010 was the last year of EPA Emission requirement transitions. This resulted in engine manufacturers refusing to incur these extra costs which meant a shortage of engines and parts.
3. We were involved in a Washington State Consumer Protection Act, defamation and other claims lawsuit which occupied much of our time and resources, taking focus away from our core business. The result, however, was satisfactory.
4. Much time and effort was spent designing and overseeing the new product line manufacturing. Molds were purchased and factory orders were negotiated and placed. This includes the much awaited Mini 304 tractor as well as several new implements.
09/21/11 5:44 PM
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