Firstly, a caveat. It's not my intention to talk down the...

Firstly, a caveat. It's not my intention to talk down the company, but I know that negative posts can sound like that. I bought into OSX on the strength of its 'story', not its financials, and I think that story is still good. But I think it will be a very long road before it reaches the kind of sales that I had thought would come quickly and the share price lift that accompanies them. My assumption was based on the points I've already made. It was wrong, and that's why I'm now thinking a takeover would be the best way forward, both for the company to achieve its potential, and for investors.

There are benefits in going public, and I think those benefits were the motivation to list on the ASX. Credibility, better corporate governance, access to capital and ability to attract high level personnel are some. Not that private companies can't also have those things, but it's more usual in a listed company.

Volga was doubtful about how I defined OSX as overvalued. There are lots of ways to calculate the value of a company, and some of those will show that OSX is undervalued. For example, I don't account for future growth, it's too nebulous for me. My preference is to base it on earnings per share, which is definite, but I accept there are other metrics that are often used.

By my calculation, I start with EPS (annual net income divided by the number of shares of stock outstanding). In the case of OSX, that's $1 million divided by 120 million shares, coming to around 8c. To that I add all the things OSX owns and could sell should it be required, either because it's forced to or gets a takeover bid and needs to value them. That's murky. Things like current contracts can be priced at around $1 million, but I don't know how to value things like intellectual property and key personnel, which would also determine the price. So I just assigned what I thought is a reasonable (erring on the side of generous) figure of $5 million. Divided by 120 million shares = about $0.40.