$TYTN "CEO Mailbag" Update
May 8th 2012
Dear Shareholders,
Just an update on a few issues.
1) The financials will be done very soon. The delays have been with our legal people who sign the paperwork and want every "T" crossed etc. Lots of details have to be made perfect. I am sorry for this, as I thought they were done before I left for China .
2) One person wrote saying he had concerns that dealership names were not being provided in a listing for buyers. Our previous Mailbag answer did not intend to get that meaning across. When inquires come in, we certainly give them the nearest dealership to their location. Also, we are working for ways to have Dealers linked into our website from their websites .
3) One stockholder wanted more detail on the Tractorco defamation case. The facts are that Tractorco purchased tractors after representing himself to have the qualifications we had required for a dealership.
In the Arbitration he said his store was only open on appointment. That he had no employees. He contracted out all his work. When the Judge ask him about the problems that he claimed he was having with Tytan, it amounted to three failures. The Judge ask him how many repairs had he done? He said actually just one and the other two were just "preventative repairs" without actual failures. Then it was discovered the one repair he claimed with Mr Olsen, was actually a "used tractor" he had sold. It was sold to the final user Mr Olsen, in "AS IS" USED condition. Tractorco had made the misrepresentations to the Consumer Protection Agency (CPSC) in a big way and that is what the Judge elected to charge him with. The Judge ask him since he claimed it was a " life threatening situation", had he contacted the other 9 people he sold tractors to. He responded that he couldn't find them to contact. I might add that TYM who he makes his great claims on his web site within his "BEWARE OF" ad, also dropped him as a dealer. This was a very pathetic case.
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May 3rd 2012
Dear Shareholders,
I just returned from China, where I inspected lots of new products that had just finished extensive testing. New & better products are what you win with. About a year ago, I had announced that we were come out with NEW 30-40 hp models that used the same basic chassis as the Benye Tractor Company had used. Benye is now a John Deere Company.
The Benye Chassis was the most popular tractor chassis in China due to its beefy, strong design. In the picture below, I am on one of the first samples that have been readied for Tytan to inspect and test. Tytan has ordered several additional improvements made to this tractor. You can see the expanded view of the front wheel assembly for this model tractor. These two model Tytan tractors will also have much better finish work than all previous models.
A Montana Dealer went on the trip with me and I thought you might enjoy seeing the pictures we took of the New Super Fast Train that goes over 200 mph. We couldnt believe how smooth the ride was. The seats were leather and would recline to flat. This is the only way to travel in China. Plug ins to charge your batteries and wi-fi were also on the train. This New Super Train is only one example of the huge Technology & Quality gains that reflect directly onto the products I handle from China.
The web site at tytantractor.com is going to a whole new concept. It has been on hold, due to several other things on the burner at present. However, if you click on the 334 button on the front page, you will see where we are going. The idea is that when the interested party gets finished viewing, he will have seen just about everything imaginable about that tractor in a very vivid way. We have already seen results from just the one partially finished 334 presentation. We will be moving on completing the entire website very soon.
Shareholder Questions:
1) Engine Filter Replacement Program . Has this gained any traction?
The Dealer response is very good. The Chain Store business will come in time. It is being worked.
2) If at all possible would we be able to see a sample of the "Dealer packets" that are going out?
We do not share dealer information or post our dealers names on the Internet. It is foolish to provide your competitors anything, in my book.
3) Can you update us on the status of Mr. Gary Lynch? Is he in fact the Tytan Distributor in Australia and if so how are things going for him there?
Gary has both a Distributorship and Dealership. He has done an excellent job and we work very closely together. I met with both his son and daughter in China during this trip. I also met with two new potential Customers from other countries that were interested in Distributorships.
4) You have mentioned that you met with Chinese Stock Market officials to study different possibilities of introducing Tytan's stock in China. Has anything grown out of this effort?
We had formulated a project with a large Chinese Company, that involved using the Chinese stock market, and Tytan would have been the beneficiary. It was unable to go forward as a result of the scare that was spread about the increased stock. Something may happen with that same company in the future. This project was going to be quite a challenge as the Chinese Market has many requirements.
Source http://www.tytantractor.com/NEWScorp.html
> Previous "CEO Mailbags" below of April
http://investorshangout.com/post/view?id=25789
> Previous "CEO Mailbags" below of March 20 & February 27 2012
http://investorshangout.com/post/view?id=21048
$TYTN
