Why all the frustration

I can understand the frustration. The reasons seem to be many, but when we break them down the final outcome almost always comes down to the PPS not being where it should be. The facts are, almost all the metrics have improved greatly over the last several quarters. I also have news for the nay-sayers they are only going to get even way better from here. The PPS is not doing what it should be and that is frustrating to most even me.


Now I know some say the financing is the reason for the downturn. While that is a overhanging issue it should not be the reason for the stock being this low. The credit market stinks yes, but when a company with the metrics that are showing them to be coming out of the woods in a few more quarters, does not make sense that they will not be able to get the last piece of financing to get the rest of the way, even if the financing is not on good terms for SIRIXM. The fact is for most of the remaining financing, those people will have a choice to ether extend the terms for a few more quarters (not give them more money) or get maybe pennies on the dollar in bankrupcy court. It seems most have forgotten SIRIXM has not missed a payment yet and the possiblity of them missing one will get less in short order.

So in conclusion, I do not know why the PPS is not where it should be. I am not a big believer in conspiratorial stock manipulation, but I am getting there. I am not saying the PPS should be 4 or 5, or even 3 at this point, but 1 and under, that is just ridiculous. When have you ever seen a stock with a almost proven brite near future as SIRIXM has as low as SIRIXM is today. That is frustrating, but remember this it is not reasonable and not something that can be justified for to much longer.

I agree John, we need answers, Mel is playing us all for fools and unsophisticated idiots.

Hey John,

No frustration here. Even though I am down 50%, I am actually getting excited about this stock again. I am ready to double my position. I plan on retiring from this stock alone in 10 years or less.

I have been waiting for a sub dollar price since the day after the merger. Now I just have to decide how much longer to wait to see how low it can go. I don't want to be greedy, but I think it can go lower at least until early October.

Any thoughts? Can you or anyone think of any way that Sirius could go bankrupt? I don't see it, but logic tells me to consider every possibility.

spanyo, I also think it could go a little more down. In the beginning (when I got in) I seen it go as low as .6 a share. For me I think the frustration comes in that I started to buy back at 4 and wished I would have waited till it got to 3. Then I would have had more by now, but I never thought it would get as low as when I first bought it, and that was before they really were in bussiness (signing up subs). They might go bankrupt that is always possible, but I feel it is so far outside the realm of possibilities, to really talk about. I just dont think it makes much sense, as I explained before. Look at it this way (for most of the remaining debt issues), you have a choice to ether let someone go for a little longer on a loan you made them or you can get .10 cents back on the 10 dollar loan you originally gave him. The kicker is it may take you almost as long to get the .10 cents after the time it takes to go through bankruptcy court. That makes no sense to me, and I dont think it would to the people involved. In most cases it is different when these funds are willing to take the company out to get their money it is because they dont think the business will make it. That is clearly not the case with SIRIXM.

Agreed. Do you know how bad it would be for Sirius to be delisted? Does that really make it much harder for them to get credit? I wonder if delisting would at least make it impossible to short the stock.

I'm frustrated because I'm down a crapload of money right now. lots. and i was stupid enough to keep averaging down. throwing more and more money at it. thinking for sure it can't go any lower. Reading about $6 to $8 targets by analysts who make a living researching companies. (except for the lone analyst from GS, turns out he was the only one who called this... and Cramer). Nothing made sense with this stock. NOTHING. that's what has pi$$ed me off the most. thinking it must be being manipulated. maybe it is... i don't know. Anyways. I'm still somewhat confident the price will come back. But I am going to need funds in around 6 months.. and I sure don't want to cash out this low. I'm also starting to seriously think that bankruptcy is a possibility and what the heck will I do if I lose this much coin... and I am not happy with Mel K. right now. he's totally doing us dry right now. He doesn't care about the common shareholder and I think that is pretty obvious.

I agree doobz
Luckily I bought in on an average $2.5 a share, so im not down that much, but I fully believe the stock is being manipulated for reason we will know soon enough. I hope to try and make sense of all this a year from now.

spanyo, Lets not forget that SIRI and XMSR were here before. It also takes some time to be delisted. By the way when they were down below a dollar the last time they were getting the financing that they are now refinancing.

I hear ya, John. You are using your common scents and not going off the reservation, but I hear ya. Mel's working on financing again.

John can you give me a little more info about the refinance back in 2003? I read that Sirius had just come out of bankruptcy then.

spanyo, To be honest it was so long ago I cant even remember, I do know it was financing of around a billion when they were at below a dollar. I also dont recall SIRI ever going bankrupt. That may have happened before the name and sympol of SIRI came to the market. I cant remember ever seeing them going bankrupt since I owned it. I do know the name has been changed twice before. That may have been the reason for the last one. Do you know if it was Chapter 11 or 13 one is bankruptcy protection and the other is being bankrupt.

I don't know. I read it on the google message board, so I take that info with a grain of salt. He didn't specify 11 or 13. I wish Brandon or Tyler would post an article about that time. It seems like history is repeating itself somewhat. It would be useful to know about that time. And if history does repeat itself, we are going way down and then way back up. I have to force myself not to buy more now. If I can get more at 50 cents... Well let's just say that would be a good thing.

There will be no article from me. Sirius has NEVER filed for bankruptcy. Just consider any and all posts that refer to bankruptcy and such to be originating from the NAB.

In 2003 they restructured the company to avoid bankruptcy and the plan worked. There is nothing further to write about.

http://www.allbusiness.com/services/...4938882-1.html

Thanks Brandon! Any opinion on how low the shorts can push this down without any refi news before Oct 6th.

spanyo, I dont think the people that are short can even get the shares to short the stock, that ends at a PPS of 2 dollars. I believe there is something going on here. I just cant get a handle on it, as "friginreagan" has said and is true for me also, SIRI and now SIRIXM are not doing what it should be doing. The PPS is not were it should be. The metrics are clear, I believe that is what Mel is talking about when he is talking about unsophisticated investors. That they should be able to see this and stick it out. After all if they stoped selling then the PPS would not be as low as it is. They read some of the false articles out there and sell (one only has to look at the articles that came out about the financing for the merger). Those articles were mostly false about it being delutive, yet people sold on it. Look at it this way the stock is now where it was when they had almost no to none subscribers and they now do not have any direct competetion. I find it amazing thast most cant see this is a ridiculous PPS when you consider the facts. Is the financing a issue yes but enough that the PPS should be this low, no.

Based on articles here it would seem that short interest was still quite high in the 1.30-1.50 range. Could it be naked shorting? Hedge funds? I'm certainly not sophisticated enough to know what is going on, but I am smart enough to hold on to what I have. I want to buy more, but the thought of it going down to .50 after I purchase at .95 would just be too painful. I know that no one can tell me what the price will do. Do you believe it will trade sideways or lower until the refi is announced and the new stuff comes out? I'm thinking that nothing is really go to push it up until then. This stock confounds me. I'm as logical as Spock, but logic doesn't seem to work well with this animal.

spanyo, That is what I was saying about it being frustrating. This has got to be one of the most confusing stocks I have dealt with. If the metrics were bad I could understand the slide but they are not. The fact is the metrics have shown that the tided turned a year ago, and that from then out it was all down hill, and with the merger they will be picking up speed. Things only will be getting better from here, yet the PPS gos down. What is funny is that the PPS today should be flipped with what they were 3 years ago. 3 years ago, I could see it being at this price (.94) and today it should be 8 dollars. That would make more sense to me.