Good analysis @Amnesiac. Thanks.
Disc: Am not invested and not intent to invest in TAC foreseeable future. However I am looking for small Tech companies for investment purposes, hence taken TAC overview.
As per AR, they have 63 employees, if you deduct director remuneration it comes to 3.11 cr for 61 employees, which is somewhat in the range of 40K/Month. This seems fair.
However in AR, pg 98 says “TAC Security INC Receivable from subsidiary 953.42” – out of 10 cr revenue? This seems fishy.
Agree with you for all others points, one should invest with extra care.
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