Was meaning to get around to share some thoughts but keep getting sidetrack with life!
Personally, OSX has been my largest loss to date, just shy of -$50k I had kiss good bye to.
I thought I had done my DD and was feeling 'confident' - I was not buying at the top, IPO pump had weaned and felt a bottom was in at ~ 60c
I had spoken many times with the previous CFO Carl and had brief interactions with Khoon via LinkedIn.
In addition to that, I work for big pharma and spoke with a high level executive who had nothing but positive comments about Khoon and his team.
I also reached out here on Hotcopper to fellow investors and I received an email from a person called 'Brett' back in April, 2021. I did reply to him but he never responded back despite a few follow ups. I always found his email a bit odd... what do you think?
The release of 30% of shares out of escrow in combination with COVID elective surgery freezes drying up revenue should have been a clear red flag, but sadly I overlooked it. Live and learn right?
Anyway, focusing on the future & in addition to what you said
@bedger - the amount raised in the cap raise is very odd given their new direction to establish a direct sales force. I don't like it but I am guessing they had to switch strategy's as the distribution model is not working - OSX products have been on the market for close to 10 years and the penetration has been very slow. I don't know the industry well enough to establish if that is due to superior products outclassing OSX or just poor execution by the management team?
On the positive, the pipeline for future products looks interesting and acquisitions are very common in this space.
My only investment thesis for OSX now would be to hope for an acquisition by big Pharma or some sort of join venture.
Good luck to anyone left holding here, OSX stays on my watch list and while I thought the bottom was in at 60c - I really can't fathom this going under 10c, the current prices do look attractive, especially given the QoQ upswing in revenues.
