I own some AIOCF but don’t see much of a moat.
That fat portfolio of patents and patent applications would be considered a rather wide moat by most investors. Tech companies don’t build these portfolios just for giggles. They do so in order to protect their intellectual property (IP). I worked at Boeing for 30 years. They had a large dedicated staff whose entire mission was the management of Boeing’s IP. Boeing has a significant revenue stream generated from IP licensing agreements (many of Boeing’s patents have noting to do with aircraft and flight, Boeshield T-9 for example is a commercially available anti-corrosive/lubricant coating).
Fact is that Aviglon has patents covering just about everything from soup to nuts in the video security arena. Of course, it’s possible for other companies to provide similar functionality with different technology, but that requires a lot of R&D and they still run the risk of patent infringement. In case you haven’t noticed, patent cases are a pretty active area of corporate litigation these days.
I’m long AIOCF and plan to get longer. They are rapidly expanding their product offerings from surveillance and forensic analysis to preventive products and new functions such as access control. As I see it, Aviglion is covering the waterfront, while their competitors offer niche products.