Those are good questions. I think the how is pretty straightforward. You have a stock that is trading at essentially cash levels. So when you buy a share you get an operating business that has generated EPS in excess of $0.20 per share for the last 4 years. Put a 5x earnings multiple on that and you get to $2.
The better question is when. It's obvious that there is no interest in the company based on the anemic trading and volume. So to get there, I think it takes some steps by management to help it there. A dividend is one way to attract interest and unlock the value of the company's ridiculously strong balance sheet. A buyback does the same, as it returns the company's excess cash to shareholders. A tender offer by the company to purchase the remaining non-family shares is another way to get to that valuation. And the value-maximizing option, would be to sell the business to a strategic third party, which I don't envision. In that case, I would argue that you could get well north of $2 per share (synergies for the buyer, etc...)
It doesn't help that the industry in which AYSI operates is not in favor with investors. I also think that with the Australian dollar starting to bottom and strengthen, we'll start to see some positive revenue comparisons year-over-year, which could help stir interest.