We investigate the properties of leaked electrons from virtual cathode osci
llation. It is found from a simulation that most leakage occurs from the ra
dial edge of the beam, so that the leaked beam forms an annular beam. Axial
bunching was also observed. The average leaked current was close to the sp
ace-charge limiting current, and the energies of the electrons at the end o
f the drift tube were a fraction of the injected energies, and were nearly
independent of the injection currents. A preliminary experimental result se
ems to support these simulation results.