Ann: Appendix 4E Preliminary Final Report, page-17

I agree with most of your observations Eqz, especially about how well OSX has grown revenue since 2016 and again since listing. I bought in (way too early) on the basis of the story and the potential of the products, both of which are very impressive. Sales are increasing well from the point of view of percentage increases YOY and from previous quarter. But they are tiny in terms of making people sit up and take notice...that is, enough to buy shares in the amounts needed to lift the price.

As you say, it takes time to convince doctors to switch from a known product. But for a company whose products have been around for many years, and which has the necessary approvals to sell them into huge markets, I think the amount of time it is taking to produce serious sales is of real concern. Actually, it shouldn't take so long. Surgeons are a small, tight-knit, well-paid, well-informed group with great global communication platforms (i.e they talk to each other through conferences, journals, etc) and a real desire to see better patient outcomes (i.e they're not going to stick to an inferior product out of loyalty, kickbacks or fear of the new). With products that have so much good data behind them as OSX does, are so perfectly geared to medical needs, are less expensive and produce better results, I had expected word-of-mouth to deliver much larger sales by now.

I'm still a holder and still a believer in the story and the potential. But I'm now pinning my hopes on a takeover by a big player rather than an organic rise by the company. I think that would've already happened if it was going to – or at least there would be signs that it was on the cards.