Prospector
Profile
07.1072
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| Tactical Air Defense Services, Inc. |
NAICS |
928110 |
| 5501 Airport Drive
Denison, TX 75020 |
Description |
Military Training Services |
| (903) 786-5300 |
Employees |
9 |
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Revenue |
(mil) |
0.0000 |
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Income |
(mil) |
-29.9900 |
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Assets |
(mil) |
7.2650 |
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Liability |
(mil) |
4.8260 |
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(for the year ended 2006-12-31) |
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Category:
Miscellaneous
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Event:
Tactical Air Defense Services, Inc. has been funded to date primarily from the sales of convertible promissory notes and warrants. Additionally, the AeroGroup Assets were acquired with a purchase money note of $2.2 Million issued to Cambar Associates. Interest on the notes are paid quarterly. The Company warns that it is likely to be in default in a substantial portion of this indebtedness in the near future if it is unable to raise additional capital to repay them.
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Intellectual Property:
The Company owns patent applications to a number of procedures that are related to the methods of conversion of military aircraft for use by civilian entities in training military personnel. These patents, which were acquired from AeroGroup, include four pending patent applications. Additionally, the Company has a copyright on an F-16 Pilot Training Syllabus used in training F-16 pilots in use of a fire control navigation panel. As part of the AeroGroup Assets acquired in the AeroGroup Acquisition, the Company has been assigned Federal Aviation Administration Aircraft Dealer license, which will be necessary to import and resell aircraft. [SEC Filing 10-KSB 06-14-07]
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Description:
The Company is an outsourced provider of military flight training, research and flight support services.
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Officers:
Mark Daniels (Pres., CEO, CFO, Sec., Treas. & Dir.); John Riley Farley (VP); Victor Miller (Dir.); Fred Daniels (Dir.)
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Auditor:
Marcum & Kliegman LLP
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Securities:
Common Stock-Symbol TADF.OB; OTC BB;
49,188,198 common shares outstanding as of June 13, 2007.
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