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Aware, Inc. (AWRE)

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  • L
    Lyle
    Aware Brings Cutting-Edge Financial Cybersecurity Authentication Solutions to Celaes LATAM 2022
    Stocks mentioned: AWRE
    6/20/2022, 9:00 AM | GlobeNewswire

    A new wrinkle to KNOMI to be introduced for financial “Fintech”, emerging opportunities but lacking solid demonstrative conversion to revenue, sales and earnings! I keep thinking an “identity” + “cybersecurity” player will be attracted to Aware technology and valuation with an offer even Stafford family can’t refuse!

    Adaptive Authentication by Aware

    Adaptive authentication matches the required user credentials to the perceived risk of the authorizations requested. Through extensive and continuous field data, Aware has built its platform to be pre-configured for the most common use cases while maintaining the ability for further configuration by each customer to meet their specific needs for their specific applications—improving user experience while ensuring strong authentication where it's needed most.
  • J
    James
    Sequential vs YoY Growth.

    Aware has had a miserable run in all but the last Quarter for sequential quarterly Growth. This inspite of the fact we have been told by management that recurring revenue sources are growing briskly. So obviously, the non-recurring part of the business is collapsing. Some part of Aware's legacy business has dies, again. First is was chip technology, then High bandwidth communications, then imaging. In each phase we saw revenues start to grow towards something like 5 million per quarter only to tail back off as the segment matured, and died due to technology marching on faster than Aware could ever sell its products. The last (5) quarterly revenues are as follows: Q1/21 4.42MM$, Q2/21 4.26, Q3/21 4.18, Q4/21 4.00. Q1/22 4.69.

    Based on the last 5 quarters only its hard to tell if Aware is shrinking or growing. The management commentary suggests growth, the long-term movement of revenue suggests not. With each successive quarterly data point we will be able to judge this management team. Another 17% sequential growth quarter will take us to a near-term revenue peak, and (2) more such quarters could put Aware at historic quarterly revenue so within the next 6 months we could get information that could justify price movement one way or another.
  • J
    James
    Sale of building closes, Sold at 8.85MM$ with about $8MM net to the Co. THis is at best a distressed price for the HQ building Aware has owned for decades. Seems clear the CEO has just delivered critical and disappointing information to the Long Thesis.

    If Aware had high growth potential in front of it you would expect the large building would prove valuable. Not only is the large building not valuable, the sale is needed to cover cash requirements.

    Obviously my idea of rapid and strong growth is much different than Robert Erckel.
  • J
    James
    We never got any answers to these very poignant questions asked by poster: ID.ME

    Read February 11 2022 story in Washington Post about ID.ME. States they have contracts with 10 federal agencies, 30 states and 500 companies to verify identities and company is valued at $1.5 billion. Two years ago I went to ID.ME website and the bragged they had two biometrics patents. Problem is their software has problems. A scammer named Eric Jaklitsch filed 78 fraudulent unemployment claims in California worth $2.5 million. He uploaded fake driver’s licenses with other peoples names and photos of himself and in several of the photos he was wearing a curly wig and then verified those bogus documents by submitting “Live Photo’s of himself”. Three quick points: 1-How was ID.ME able to land the contracts in the first place when Aware has gotten zilch? 2-if the Aware software for mobile use is award winning why can’t Aware go to all of ID.ME’s customers and show them that KNOWMI will not be spoofed? 3-What is the reason(s) why Aware management has been unable to grow revenue?
  • J
    James
    Is the Senate recommended FTC investigation of ID.ME a positive, negative or does not matter for Aware Inc?
  • L
    Lyle
    4 Form - Statement of changes in beneficial ownership of securities - AWARE INC /MA/ (0001015739) (Issuer)
    Stocks mentioned: AWRE
    6/17/2022, 5:48 PM | SEC

    CFO David Barcelo acquires 5,000 shs at $2.40 increasing holdings to 49,750 shs! Together with options awards, total position = ~ what's the 350,000 shs
  • I
    ID.ME
    The stock performance of Aware has been abysmal ever since CEO and BOD waived the poison pill and allowed John Stafford and his family members to become the largest shareholders. Stafford appointed Kevin Russell and Richard Moberg as co CEO’s. Moberg exercised his stock options the day before AWRE announced a $75 million patent sale to Intel. He did this to save a pile of money in taxes. Moberg resigned as co CEO and sold back a large portion of his shares to Aware for a substantial discount to market value. I went to the annual meeting and sat across from Kevin Russell and asked him if the Securities and Exchange Commission had forced Moberg to resign. Russell stated the SEC had not forced his resignation. I felt he was not being truthful. Russell was the head of the Aware Ethics Committee and should never have allowed Moberg to exercise his options. At the end of the day nearly all the members of the Board of Directors are Stafford people. Even though he is no longer Chairman of the BOD make no mistake Stafford calls the shots. Stafford’ a track history is not a good one. He was forced to resign from the BOD at Xencor and through mismanagement lost a fortune at Ronin Capital. Michael Tzannes after he left Aware bought a large stock position in Xencor and made a large profit. Was it a coincidence or was this inside information payback to Michael Tzannes for allowing Stafford to violate the Aware poison pill?
  • C
    Carl Jr.
    Anyone have a view on strategic/private value here? Any good comps out there? Hard to believe Aware's software/service would not be worth signifigantly more to a large organization with a real sales force and connections.

    The targets that they set would be great off a substantially larger sales base, but given the urine-trickle of sales it really doesn't cut it so the stock stays utterly dead.
  • J
    John
    Aware also indicated NO buyback in Q1. I guess $2.70 / share is too rich. Waiting for $1.80.
  • I
    ID.ME
    In the 2020 Annual Report Aware listed 121 US and foreign patents and 34 patent applications. In the 2021 Annual Report Aware listed 84 US and foreign patents and “approximately 15” patent applications. No explanation as to what happened to 37 patents-one third of total patents. Did they all expire worthless? What happened to 19 patent applications? Did the US patent office deny the applications? Given the high cost of a patent-employee labor cost and patent legal fees these are legitimate questions that deserve transparency.
  • J
    James
    If CEO Erckel is unwilling to answer as to How Many Knomi transactions occurred in the prior quarter, do you think he will be willing to explain who AX WIRELESS LLC of Cedar Park TX?

    This is the company getting assigned patents from ex Aware inventors Marcos Tzannes and Joon Bae Kim. We shareholders gave Aware Patents to these ex Aware employees who have developed further concepts they used to work on at Aware. The disappearance of the only assets that ever generated a return for shareholders is very concerning. Given the secretive disposal of assets on the part of Aware, one must be very concerned about self-dealing. Especially in light of documented history of unethical practices employed by Aware Inc executives.
  • J
    James
    Aware Inc is the 30 year old company that is learning to crawl.
  • L
    Lyle
    Looking at the past clouds the opportunity of the future! No one can legitimately argue Aware President & CEO Eckel is ambivalent to or not aligned with current and future stakeholders.

    https://newsfilter.io/a/0d7525dbafd2efcef8ba18c83ca9bd00

    In 9 mos., Bob will vest 800,000 Aware shares @ +$4.75/sh, added to + 187,000 personal shares added @ $3.00/sh, makes any criticism biased and misplaced. Suggesting current management is somehow not aligned with existing long shareholders is dishonest or malicious!
    Form 4 (statement of changes in beneficial ownership of securities) filed with the SEC
    Form 4 (statement of changes in beneficial ownership of securities) filed with the SEC
    newsfilter.io
  • C
    Carl Jr.
    I don't have a problem with current CEO, he has done well so far as I can see. I think the real issue is that operationally this company was a backwards #$%$show far more than I had realized, so there was far more basic stuff to do. As someone else said, "teaching the 30 year old company to crawl" seems an apt analogy. From this low base level and with a platform with high incremental margins, we need 50%+ sales growth/year for a number of years. If they can do that this stock will rocket yet.
  • J
    James
    I found the CC very disappointing. The CEO was evasive in the Q&A. This is not a breath of fresh air, it is more of the same from the past 30 years at Aware. The only executive that ever purchased the company stock with his own money got fired for doing so unethically. Aware brass is over paid and under-worked. They have always let down the shareholders.

    Even when asked a straight up question about Knomi , they danced around it and did not answer it. THere is an answer to that question and they would not give it. Why bother wasting everyone's time. These people clearly don't work for shareholders, they work for themselves.

    This country is in big trouble until the People stand up and do away with this priviledged elite class of crooks.
  • C
    Carl Jr.
    Looks like a nice sized win.

    THey need to keep winning - Sales, sales SALES!!!!

    "Partnership with DVA Bilgi Teknolojileri A.S. helps enable Turkish implementation of remote, mobile customer onboarding and document verification functionality

    BEDFORD, Mass., Dec. 09, 2021 (GLOBE NEWSWIRE) -- Aware, Inc., (NASDAQ: AWRE), a leading global provider of biometrics software products, solutions and services, announces that a leading bank in Turkey, Garanti BBVA, has chosen its Knomi™ mobile biometric authentication framework to bring secure, remote customer onboarding and document verification capabilities to its mobile app. This partnership is expected to enable Garanti BBVA to reach new customer markets by reducing the need for customers to visit a branch in person to open new accounts.

    As the pre-eminent banking franchise in Turkey, Garanti BBVA wanted to be able to reach new customers, cut down on operational costs, and take a leadership position in providing hassle-free banking services to its more than 15 million customers. After an exhaustive search for companies offering secure, remote onboarding technologies, Aware was selected for its longstanding leadership position in the biometrics space and its expertise with digital onboarding solutions. Local partner DVA Bilgi Teknolojileri A.S., who had been working with Aware for years on its digital onboarding offerings, helped to assist with the partnership with Garanti BBVA and ensure a successful implementation.

    Aware’s Knomi mobile biometric authentication framework provides Garanti BBVA with the secure, convenient mobile onboarding solution they need to securely enable new bank account openings without requiring customers to visit a brick-and-mortar bank location. With options for both face and voice matching over virtually any mobile device, advanced liveness detection to detect fraudulent activity, highly accurate selfie to document image comparison, and document verification capabilities for over 6,000 government issue ID documents, Knomi is the all-in-one solution Garanti BBVA chose to onboard new customers securely and conveniently, from virtually any location...."
  • L
    Lyle
    US Dept of State IDMS Business. Not sure why this was disguised with Partnership Announcement?

    INTERCEDE ANNOUNCE THE RECEIPT OF AN INITIAL PROGRESS ORDER FOLLOWING NEW U.S. DEPARTMENT OF STATE CONTRACT WIN

    Intercede has this week announced the receipt of an initial progress order following a significant new contract win for its MyID® credential management software with the U.S. Department of State (DoS).
    The new contract win follows Intercede’s involvement in a successful bid to create an innovative Identity Management System (IDMS) solution compliant with Homeland Security Presidential Directive 12 (HSPD-12) for the DoS and its customers.
    Further details of the contract are available in a press release that has been issued by Guidehouse as the Prime Contractor: https://guidehouse.com/news/national-security/2020/guidehouse-awarded-contract-to-support-identity
    The ten-year, multi-million pound contract will see MyID software issuing and managing the lifecycle of thousands of DoS employee digital identities as part of the agency’s next-generation identity management services (IDMS) implementation.
    “We are delighted that MyID software will form the central element of the Department of State’s next-generation IDMS,” said Klaas van der Leest, Chief Executive Officer of Intercede.  “This contract win underlines the quality of our MyID software and its future in managing best in class digital identity solutions for security conscious organisations like the DoS. It also highlights the strength of our offering when working proactively with partners, following on from the recent launch of our Connect Partner Programme. Together with Guidehouse as the prime contractor, plus Appian Logic, Aware and CertiPath, we have an innovative solution that will meet the needs of the DoS now and over the next ten years.”
    The Department of State joins fellow U.S. federal agencies including the Transportation Security Administration, Federal Aviation Administration and Social Security Administration who have also chosen MyID as their credential management software.
  • L
    Lyle
    Re: John IRS + SSA and ID.me! Really hard to understand the genesis of the technology on display and having to take on + 100’s of CSR’s to manage the relationships doesn’t strike me of an effective or efficient solution! Hard to imagine any major corporate or enterprise client wanting to off load the enrollment and security control! I had to sign up with ID.me for IRS account and it took me several failed submissions to finally get enrolled! From what I read there have been numerous failed enrollments with impossible customer service to get satisfactory assistance!

    Maybe an Aware opportunity after demonstrating the public is receptive to a biometric solution and how NOT to implement the service with an unproven vendor and outsourced support!
    ID.me simplifies how individuals share and prove their identity online. ID.me's next generation platform facilitates identity proofing, authentication, and group affiliation verification for over 500 organizations.
    ID.me simplifies how individuals share and prove their identity online. ID.me's next generation platform facilitates identity proofing, authentication, and group affiliation verification for over 500 organizations.
    ID.me
  • J
    James
    13D/G Filings
    This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

    File
    Date Effective
    Date Form Prev
    Shares Reported
    Shares Change in Shares
    (Percent) Ownership
    (Percent) Change in Ownership
    (Percent)
    2019-02-14 2019-02-14 13G/A 1,624,123 1,783,395 9.81 8.28 10.40
    2018-01-25 2018-01-25 13G/A 1,339,267 1,624,123 21.27 7.50 21.75
    2017-08-08 2017-08-08 13G/A 1,120,425 1,339,267 19.53 6.16 22.22
    2017-04-12 2017-04-12 13G/A 1,036,848 1,120,425 8.06 5.04 9.57
    2017-02-10 2017-02-10 13G/A 1,974,676 1,036,848 -47.49 4.60 -46.51
    2016-01-20 2016-01-20 13G/A 1,974,676 1,974,676 0.00 8.60 0.00
    2016-01-20 2016-01-20 13G 1,974,676 8.60
  • L
    Lyle
    Well Aware ended Q4, ‘21 at a mere 20% off its 5 yr low market cap and 30 mos into the Bob Eckel reign as CEO! To say I’m underwhelmed is generous! Highlights of the quarter included
    a single ABIS order from Thomas, Co GA law enforcement agency (new definition of a “material” press release!)
    a Knomi contract with a “leading Turkish bank”. Yes I said leading Turkey, please pardon my cynicism!
    a fortuitous maybe 70,000 share open market purchase by JS III at $3.00ish,
    a 5% shareholder dilution of previously authorized but unissued common shares to fund an ESOP!
    a Latin America acquisition of Fortress Identity with absolutely NO financial guidance, or business optimism!

    Obviously any news is better than no news, but “where’s the beef” after 10 years subsequent to divestiture of DSL patents and biz and claiming unparalleled biometrics technology and patents, and the launch of a new subscription based model, as I said I’m underwhelmed and imho suboptimal!