Issued options @ 5 cents expiring in ~8 weeks and cash on hand, page-81

Don't really understand the point of the question?

Is the suggestion that the trillion dollar cyber market isn't big enough to support the thousands of mid size techsec companies outside of this list and they should therefore shut up shop?

Or are you suggesting that TNT might end up as one of the many hundreds of sec firms that feed the great acquisition machine that feeds this list (and others like it).

I won't waste my time researching the actual numbers, but anyone who's been around this space for more than 5 minutes knows that in past decade these 10 firms would have made at least a thousand acquisitions (10 a year x 10 companies x 10 years) not to mention the M&A activity prior to them being acquired.

if your point is that this is a massive market that is set for massive M&A consolidation and TNT are therefore playing in the right space, then it's a point very well made and I congratulate you.

If the point is to somehow discredit TNT (or Tony O'Brien), then that's just puerile!