Osiris is an enigma. No restated financial statements. No audited 2015 annual financial statements. No 2016 first quarter financial statements. SEC investigation into possible past criminal activities. Resignation of the former auditor. Untimely departures of CEO’s. Little to no current management or investor relations information.
It has been very painful to watch the erosion in stock price.
Everything points to sell, sell everything and move on.
But I hold and suffer, waiting and waiting impatiently for news from management. I understand that management has to be quiet until the SEC completes its investigation or until the Osiris Board of Directors gives its approval to release the restated and historical financial statements.
But I also know Osiris is a real company, a very fast growing company with the best viable biosurgical wound care products. There has not been any downsizing, more people have been hired, three manufacturing shifts are ramping up production, the parking lot is full of employee cars both in front and in back of the company headquarters, shipments are constantly being shipped, the company's manufacturing and operations headquarters has recently been upgraded. Product sales have increased through the limited available research made public. Osiris has great partnerships with both Stryker and Arthrex which both have recently ramped up their brochures, videos and websites recommending both BIO4 and Cartiform. There are other products being developed in the pipeline.
I will continue to wait. I don’t like it. But the payoff will come and I believe it will be substantial.