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you must continue doing what you are doing ... try growing your business even if its 0.01% a month - blog about your product as much as possible - avail all the avenues of free advertising and marketing - more the people know about your product the more you will be publicity and eventually someone will notice you and may be offer you to buyout.

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That makes sense, but I think the opportunity cost should not be ignored. If the opportunity cost of continuing on the current track is higher than the expected returns (both on the short and long term), then it might be better for us to either sell or cut our losses.

But yes... when somebody approaches us (instead of the other way around) we have a much stronger position during negotiation. So the problem is really in the "eventually" part.

That's good advice, provided that the product is good, and something people would/will want to use.

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