Ann: Annual Report to shareholders, page-15

It's not a recent "model", just one that I use to assess the reality. As I said, when I bought in it was on the basis of the story, not the financials. I was prepared to forego the maths (mainly because there wasn't much to go on and I thought sales would be much stronger) and pay higher than its value based on what I thought at the time, i.e it was overpriced but with fast delivery of the results I was expecting, that would soon be forgotten as the share price went up from that point. That hasn't been the case, but that's the risk of speculation.

Fortunately, I assigned OSX to the relatively small part of my portfolio that I reserve for speculations and applied my other "model": only put in what you are prepared to lose. I'm not regarding it as a loss yet, I'm now just seeing it through realistic eyes... and now there's more maths to go on.