We have now gone 6 weeks since a new Aware award has been announced on the fpdsdotgov website. The recent average time between award announcements has been 7-10 days. Did the awards suddenly stop since I've been posting them here in real time, or just the announcements?
Does anyone know for sure if companies are subject to the same rules as insiders as it relates to share repurchase vs insider buying? Specifically, can Aware repurchase shares while management is in possession of undisclosed material info?
Seems to me that the entire Aware management and BOD has a get out of jail free card. They don't seem to be one bit worried about breaking fair disclosure rules. There is the other issue of suspected insider parking of shares. I've never seen anything like it in all my years as an investor. Maybe there is more to this company that meets the eye?
My investment premise remains unchanged though. Majority insider ownership, we suspect. No debt. $2.29/sh in cash. Growth industry. Profitable. Impressive customer list of US Govt agencies. If you back out the cash, they have a PE of 8.4 using TTM earnings.
To me, the secrecy issue is a double edge sword. On the one hand I would love to have more information and webcast conference calls. On the other hand, as an ex-BKYI investor and very long time follower, I've witnessed years of weekly puff PR's and half truths spewed out from management that never amounted to a hill of beans. These two companies are the extreme opposites. I prefer Awares approach
Biometrics and identity management
ManTech sustains and expands the Biometric Identification System for Access (BISA), which is used for base-access control in Iraq and Afghanistan. Our expertise in this field includes enrollment, electronic biometric file transmissions, card printing, issuance, and verification devices. We developed five of BISA's critical-infrastructure components: transaction manager, smart card, configuration management system, handheld verification devices, and day worker applications. We provide full support services for biometrics and identity management, including software engineering, operations, training, and hardware, software, and telecommunications support.
FAIRFAX, Va., May 16, 2016 (GLOBE NEWSWIRE) -- The U.S. Department of Defense (DoD) has awarded ManTech International Corporation (Nasdaq:MANT) a prime contract to provide operational and user maintenance (O&uM) and software maintenance support to the Product Manager (PM) Joint Personnel Identification (JPI) Quick Reaction Capabilities (QRC) Sustainment. The PM JPI is responsible for ensuring the QRC task order supports warfighter needs by sustaining adequate O&uM and software maintenance functions required on a daily basis. The QRC requirement includes both hardware (devices) and software that are used for biometrics collection, storage, matching, and analysis in a forward operating environment. The cost-plus-fixed-fee task order has a 12-month base period of performance and one 12-month option period, with a potential total value to ManTech of $44.2 million.
$10,000,000 / $4.20 per share = 2,381,000 shares at todays price.
There are aprox 250 trading days in a year.....2,381,000 shares / 250 = ~9,500 shares per day.
This repurchase expires 12/31/2017.
This should move the stock up unless it happens to be a Stafford doing the selling.
Everything I know for sure I post here so there's nothing other than hope and speculation. It goes something like this...
Aware did $7M in Q4/15 and they said at the time they only recognized part of the Med imaging contract. So we'll have some more of that in Q1 along with the normal $4-5M Govt run rate stuff. Like I said, if we can get some Certibio revenue on top of that, Aware could put up some sequential good numbers.
If they can show some consistent certibio growth for a couple of quarters, we can begin to make some projections. It's encouraging to some volume today.
We should find out if there was any by the end of this week. Last years Q2 8K was out on April 21.
Aware will receive a per-transaction fee for Certisign's right to use our software in their system. We are excited by what this partnership may mean for Aware's business."
Rick Moberg, Aware's co-chief executive officer and chief financial officer, said, "... We are pleased to report ... the signing of a software license agreement (in Q3/15 with Certisign in Brazil. Certisign is the largest supplier of digital certificates in Brazil. We have been working with them since the summer of 2014 to develop and pilot test a new biometric identity proofing and authentication service they intend to offer their customers. The signing of the software license agreement signifies the beginning of the service rollout phase.
Whatever this is, it is between the DOJ and Aware. You can find the original document on the FDPSdotgov website. Wouldn't it be nice to be able to call the company and ask them directly?
Other Function - Automated Booking System Middleware for the Joint Automated Booking System (JABS)
Date Signed (mm/dd/yyyy) :
Effective Date (mm/dd/yyyy) :
Completion Date (mm/dd/yyyy) :
Est. Ultimate Completion Date (mm/dd/yyyy) :
Base And Exercised Options Value:
Base And All Options Value:
If what you wrote about the timing of the exercise effecting only Mobergs tax bill is true Radio, it doesn't sound illegal or even unethical to me. But I'm far from an expert in these matters. I can't see where shareholders were harmed by that specific transaction.
My primary beef with management is over the assignment of patent assets to invisible shell companies and details related to those assignments. The only one of the four that was completely transparent was the Intel sale. Who the heck are the beneficial owners of Daphimo, TQ Delta and Hybrid Audio? Absent that information, how can shareholders be certain they received fair value? Management is tone deaf to that criticism and it infuriates me?
My secondary beef is what we all suspect is happening in terms of undisclosed insider ownership. Are Punch, Dimensional Fund and DG Capital parking shares? How else can you explain their positions in Aware given it's 20 year lack luster performance and complete and total embargo of information about AWRE other than filings?
it will take two weeks to get rid of them at this rate.