July 16, 2007
Prospector
Profile
07.1072
 
Tactical Air Defense Services, Inc. NAICS 928110
5501 Airport Drive Denison, TX 75020 Description Military Training Services
(903) 786-5300 Employees 9
Revenue (mil) 0.0000
  Income (mil) -29.9900
  Assets (mil) 7.2650
  Liability (mil) 4.8260
  (for the year ended 2006-12-31)
 
Category: Miscellaneous
 
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.
 
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]
 
Description: The Company is an outsourced provider of military flight training, research and flight support services.
 
Officers: Mark Daniels (Pres., CEO, CFO, Sec., Treas. & Dir.); John Riley Farley (VP); Victor Miller (Dir.); Fred Daniels (Dir.)
 
Auditor: Marcum & Kliegman LLP
 
Securities: Common Stock-Symbol TADF.OB; OTC BB; 49,188,198 common shares outstanding as of June 13, 2007.
 
 
 
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