Hopefully all of our comments will be clean............
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Hopefully all of our comments will be clean............
WE ARE UP 16% IN REVENUES... BEATING ALL RADIO MEDIA OUTLETS.. IN THE WORST ECONOMY IN 80 YEARS AND WE SAVED 10 MILLION IN OPERATING EXP. AND A -9 MILLION VS -104 MILLION WITH A 90% IMPROVEMONET IN EBIDA... DAMM GOOD.. :thumbup:
If I could believe what Mel is saying it would be good.
http://files.shareholder.com/downloa...%20Release.pdf
The Conference call results press release
ALL VERY ++++ AND MEL SAID VERY CONFIDENT IN REFINANCING AND IN SHORT ORDER!!! END OF NOV.. WE BE POPPIN:thumbup:
If i heard at end correctly...MEL has confidence that the shareholders will approve RS and dilution
Did anyone else pick up the the comment that Mel made, more than once, that the Feb debt has been reduced to $210 million, not the $250 million we had previously heard?
I was very happy with the call, all things considered. Mel and David Freer sounded upbeat the great majority of the time, data they presented was either positive, or at least not negative. Interestingly, the question period provided questions from brokerage company people who did not seem to be asking questions to tear down the company. All things considered, in light of the car companies' problems, Circuit City troubles and the consumers' troubles, the call seemed, to me, quite positive - surprisingly so.
Of course, my reaction to the call was based on my own expectatations.
Anyone else listen to the call and have any other, or similar, reactions to the call?
Keysmark-
Yes, I did pick up on that. I wonder how they got to 210 but, in any case, it makes me happy. Somehow 210 sounds a lot less than 300, especially in this financial environment. I also liked the fact that Mel stated that they were in talks with many potential lenders. I am happy that there are many lenders who they can reach out to, and who want to talk to them when money, overall, is tight.
Lets hope this numbers will get a refi. :yesnod: :yesnod:
http://www.reuters.com/article/marke...0081110?rpc=33
Pro forma Q3 net loss in line with expectations
* Pro forma Q3 revenue rises 16 pct, beats expectations
* Adds 344,100 net subscribers in Q3
* Backs 2008 and 2009 outlook
Mel said that he expects shareholders to approve an amendment to our certificate of incorporation to increase the number of authorized shares of our common stock from 4,500,000,000 to 8,000,000,000 shares.
This because they don't have the cushion that they had before the merger.
A 3.5 billion share cushion? That in addition to the ones that are still not issued.
What kind of answer is this to the almost doubling of the authorized shares?
I am still waiting for some reason to trust Mel & Co and will vote no on the Reverse Split and increasing the number of authorized shares.
I thought the call was upbeat but then - that is what I expected. I was dissapointed that they didn't announce that financing was in place - confident that financing would come together does not mean that we are out of the woods! I keep ALL appendages crossed!
This call has made given me more confidence than ever in my SIRI stock. $210 million vs $300 million for Feb debt is great news. To GROW your biz in an economic retail meltdown is also outstanding......more like unbelievable!!!
I'm buying all the way from here on out. They will get the refi, the auto industry will turn around in a year's time (even though we showed today we don't need it to grow our revenue and subs) and once the economy in general turns around.....this baby will be flying like DR.J!!!!!!!!
Cheers to some good news,
Whynot
OK, we approve the reverse split, stock price goes to $8.00 or $9.00 or to whatever the split ratio we vote for dictates... then they issue the additional 3,500,000,000 approved shares (multiplied by whatever the ratio, right?) ? or is it viceversa ?
Please let me know how this WILL NOT dilute our equity.
ps: I just hope we do not end up with $8.00 shares just to see them go back to pennies again.
Thanks.
RS is a bad idea for those of us with cost averages of three dollar and up. It may still be a bad deal for those of us who have averaged down to a buck a share. It may only be tolerable to those who have bought recently in the 30 cent range.
IOW, its a horrible idea. It is also very premature. It was disingenuous of Mel not to mention that delisting has been prolonged by the actions of NASDAQ and that a RS could be voted on down the road. Why all the forward looking talk - debt will be paid, debt has been reduced from 3 to 2.10, but we still want a RS and a doubling of shares - massive dilution - for a cushion?
It does not add up. NO to RS. NO to Dilution. Why and how did Cramer predict this Dilution that we are hearing about now that no one could possibly foresee last August? Something is rotten in Denmark.
Are they going to breakdown the subscriber numbers so you can see how many Sirius adds and XM adds there were - or will we never know anymore?
IMO…mel just blew smoke up everybodys ass and really his whole point was to try to appease stockholders with some flim flam explanation.
His main intention to was to mention the rs and dilution and try to emotionally blackmail those who vote NO.
If you think that todays CC will raise the pps…THINK AGAIN.
Demian: I think with the 10Q, you may see a division of XM vs Sirius, but that is just speculation.
As far as subscribers: They need only a little more than 200k to reach their YE08 estimates... going into the busiest part of the year with historically the best subscriber growth. They added more than 200k in nets in Q3, which is historically the second worst (after Q1).
Mel also made another statement: For full year 2009, they will be break even INCLUDING satellite expenses. Before, they were talking about EBITDA positive BEFORE satellite expenses. Their increase in revenue for this quarter was quite impressive.
Also regarding synergies: They made it clear that the synergies were growing rapidly, and the numbers included only 2 months worth of synergies.
Overall, I thought the conference call was great. As far as dilution : I think Dilution is going to be a necessary evil. Yes, it dilutes our current investment, but I think that doing so will give us the best possibility for acceptible financing. Without dilution, the terms of financing may be once again "ugly".
As to RS: It MAY be a necessary evil to do a RS, but I think the SEC rulings for NASDAQ listings has afforded us the ability to decline the RS at this point, with plenty of time for SIRIUS to schedule another annual meeting for deciding this issue later.
Ain't that What Hartieb, is famous for, Your pissed because your stock tanked lets destroy the investment even further with a lawsuit