Warning: I recently sold out of OSX, so for those who don't like...

Warning: I recently sold out of OSX, so for those who don't like the idea of a non-holder writing, read no further.

I wanted to add my reasons for getting out in case they're of any use to holders. Also – in case some holders are not aware – because the escrow release date is fast approaching. On 23 September, 50% of the company's shares, which have been in escrow since listing, are released (it was 80% on listing, but the dilution reduced the percentage). That's about 40m shares issued at $0.20. That means holders of those shares (board members and senior execs) can make a still-respectable profit if they sell. So, if there's a big sell-off that day, it can be taken as a clear message.

For me, clicking the Sell button when you know you will realise a loss makes it ... well, real. But I feel better for doing it. The pain of the loss is subsiding as I recall the other stocks I stayed in too long, only to see even further losses. The consolation prize is the tax advantage I'll get next year from the capital loss. Not much solace there, but better than the alternative.

I don't want to come across as having sour grapes or sticking the boot in to Osteopore now I'm out, because neither are the case. It was my fault for buying too early and putting too much emphasis on the products and the narrative rather than the fundamentals and the obstacles the company faces. For me, the final alarm bell was the departure of the Chairman. The fact that he is Resmed's ex-CFO says something, as he was in a good position to know whether the company was worth leading or not, and he clearly decided on the latter. Board members – certainly a Chairman of Sandercock's stature – don't resign within two years of taking the position unless there's something seriously amiss with the company.

Re. OSX being an acquisition target, I think it's the only possible way ahead. However, I think any potential buyer (assuming there is one) would wait until the price is lower. OSX is not profitable so they'll have to do another cap raise at some point. The price of that cap raise will have to be very low indeed in order to attract investors who are understandably not keen to throw good money after bad, or make an initial investment in a company that hasn't delivered. I would think any offer would come after that raise. The buyer could get the whole company for a song, including the IP, which is pretty much the only thing of value. The products may not be in demand now, but they may be in the future, so owning the rights to the technology provides some reason for a takeover.

Good luck to all.