I've looked into this business in the past, as it appears to me possess some unique smarts and IP.
But I stopped my research when I learnt about the issues that were forming with the Federal Aviation Authority in the US (which have subsequently burst into a full-blown legal stoush).
When you are fighting with your largest customer through the courts, then that is very seldom something that is conducive to favourable shareholder value outcomes.
However, that said, with the company's EV now just ~$65m compared to an adjusted EBITDA [*] of ~$7m, I'll be recycling the idea back into my in-tray for re-consideration at some point when I have the time and the inclination.
[*] adjusted for the loss of Service revenue to the FAA
I've looked into this business in the past, as it appears to me...
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