It is a puzzle indeed. But I saw in DO some
seals where Lycandos is written with "I" and even with "EI".
"loud" is just an approach, I might be wrong. But Since there is a "TΩN" before, the following word is eiher the name of a people or a toponym in plural. I can also not think of a Name including "NM" . But after the
genitive "ΤΩ" it has to be the family name. And a long one too, since there is another line in the bottom where all the letters are illigible.
I absolutely agree with you, that it could be a R and not A before the first title.
Regards,
Iolkia