Since this article was written, Aware's revenues have steadily declined. I am not sure what Fudgy Packus was thinking when he wrote his note. But nothing short of inside information or more likely BS would explain his thesis.
Appears he is cut from the same cloth as the leadership of Aware. You should look carefully at this company and its leaders. They have a low regard for disclosure of relevant information for investors to develop reasonable estimates for the earnings potential of the business. They do not set public goals nor do they articulate a strategy for growth. And surprise, they have been around for 20 yrs without sustaining growth. Every prior business segment that they have entered, they have had to leave. The company operations have been cumulative losers of money, however, most of the dollar losses were recovered by the sale of IP assets from 2008 through to 2014.
Aware has shown no ability to grow an operating business. They have cut off correspodence with shareholders, they have filed inaccurate information and at times confusing information regarding the disposition of assets and the chairman has a dubious history of treating fellow shareholders of businesses he co-owned in such a way that he was accused of withholding information to benefit himself at the expense of his "partners".
Aware's insiders are significant owners. Based on Aware's own history it seems that the most likely route to future earnings will be through monetization of IP assets, not growing operations. The lack of a public plan for growth appears to be a ploy to frustrate investors, force them to throw in the towel and enable a defacto privatization. Or a less than equitable exit strategy like other ventures this group has participated in. You should be prepared for what is really going on in this stock, so you have a chance to make a good decision for yourself.
