Info from "My Investors"
I just cannot understand why so many Institutional investors would be buying with news like this??? I suspect that most folks here have seen this and i appologise if it is a duplicate - just trying to add to the group!
"This is a direct quote from the Sirius XM 10-Q form: "An inability to access additional sources of liquidity to fund our cash needs in '09 or thereafter or to refinance or otherwise fund the repayment of our maturing debt instruments could adversely affect our growth, our financial condition, our results of operations, and our ability to make payments on our debt, and could force us to seek the protection of the bankruptcy laws, which could materially adversely impact our ability to operate our business and to make payments under our debt instruments.""
Thanks for that link... I don't agree because there are institutions still buying in and conversions that were accepted would not have been if they thought BK was inevitable.
Besides the company has cash to pay their bills. Bk is when a company is broke with no possible way to pay bills.
It is quite obvious that this must be the first quarterly report you have ever seen.
I'm not pushing the stock, but this is really a Mickey Mouse statement disguised as a question.
Ahhh screw it, I don't want to sugar coat it any more... you're an idiot.
who are you referring to as an idiot?
Mario - I am very much a newbie here - just trying my best to learn and offer what i can. If I have offended in any way - appologies. I really believe in Sirius and own a fair bit of the stock (more than I likely should). I also believe that it is being manipulated but I am in no way as stock wise as you. I appreciate all that is offered here - the posts that I agree with and those that I do not!
Hi- The language you quote is what is known as "pro forma" language. Language of this kind is in lots of prospectuses and other SEC-related documents. There is often language such as "If financing is available there is no guarantee that it can be obtained on terms acceptable to ... or in amounts sufficient to ...." Such generic language is there to give "full disclosure" under government regulations and to protect companies against repercussions (law suits) if their plans do not come to fruition. Look at filings of other companies with similar needs to obtain financing and you will see similar "pro forma" language.
All of the above is not to say that there are any guarantees of Sirius obtaining the financing it needs, but I for one am guardedly hopeful.
Who is this guy "Mario" to call anyone an idiot? Such insults are completely out of place on this forum. We all come here to learn, to ask questions and to share any knowledge, insights and/or opinions. We ALL have something to learn. The question about the ominous sounding language put out in Sirius' legal papers is an excellent one. I wondered about the same thing until I saw such "warning" language (or other language warning about other potentialities) in many offering documents and financial reporting documents. Perhaps "Mario" does not understand the question. Let's just say "Mario" is ill-informed.
Newbies must not buy Sirius
Take your money and put it in the bank at 2%. If you want to show off, buy a tax free municipal bond, or a federal bond. If you want to totally blow your friends away, buy the SPY or the DIA when the Dow hits 8000.
Do not in any way speculate anything, not even a dollar on Sirius. And honestly, I would suggest you stop reading this board just to head off temptation.
And just for the naysayers, I'm actually bullish on Sirius.
Your question was an excellent one, especially in light of the large institutional ownership, which you pointed out. Keep up your sharing of information and questions. Don't worry about the "Marios" of the world.
Steve, you are also an idiot. The difference is that you actually think you are smart, whereas Rick knows that he is lacking. This actually positions Rick above Steve in intelligence.
This is perhaps the most interesting thread on this website. It is a parallel to what is happening on Wall Street and directly with Sirius stock.