The word "lossing" is not a correct spelling in modern English. Instead, the correct form of the verb is "losing", with a /l/ sound, pronounced as "loo-zing" with the phonetic transcription /ˈluːzɪŋ/. It means to no longer have something or to be defeated in a competition. Commonly mistaken as a double "s" spelling, "losing" actually only has one "s" before the suffix "-ing". Correct spelling is important for effective communication and comprehension in written and spoken language.