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Thread: Proxyovte.com

  1. #11
    homer985 is offline
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    Keep this in mind, for those thinking that with a R/S that the pps will cause a bigger hit afterwards to your equity... this stock is already well below its FAIR VALUE.

    So you're making an assumption that the Market Cap will shrink even further below the fair value... sorry, but I disagree. When the cap was above the Fair Value, I did agree with you -- but since it's dropped so much, I don't agree anymore. At $0.26, there is very little left to lose.



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  2. #12
    Newman is offline
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    I will be waiting to hear the conference call on monday to decide how to vote. If they refinance all/most of 2009 debt, there will be no need for RS. I HATE the idea of of a RS, but as homer states, it is the lesser of two evils.

    If the reverse split is voted down, and they continue to trade under $1, the company will HAVE to spend money for a special meeting to vote on it again. (It woud be their feduciary responsibility to try again after all other options have fallen through).

    If it makes any difference, I just bought more shares at 0.26 (was hoping for 0.25, but decided I wanted in before the conference call, just in case)

  3. #13
    howzzat is offline
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    Do you think we will hear anything substantial about the refinancing of the debt on Monday? or will it be more of the vague stuff, we are in discussions etc etc. I believe it will be the later and we will not know much beyond what we know today.

  4. #14
    vaporgold is offline
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    Quote Originally Posted by SiriusXMInvestor View Post
    I voted them all OUT and against R/S and dilution. Only approved the Accountant change.
    yep, that is the way to go. Mel needs to do his job or get out and let a new CEO take over, especially after the lies 12 days ago regarding the sub mumbers.

    The bad news and lies just does not stop with this Guy.

    imho

    vaporgold

  5. #15
    Newman is offline
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    howzzat: I HOPE we hear something about financing, but as homer has mentioned, most banks only got those numbers yesterday, just like us. They have to read over all of the stuff and make a decision. There may be multiple banks looking at the information, hopefully starting a bidding war for the lowest interest rate. If nothing else, I hope to hear something to the effect of "we are in final stages of discussions with banks". I am HOPEING that he is not waiting for the annual meeting to get the additional shares to issue more converts, but that is a possibility as well.

    I will definately vote yes for the additional shares, but the R/S I am not sure about. I will probably vote yes just to give them the option in case of emergency, but I hate that thought....

  6. #16
    PMO is offline
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    Q3 Results -- Then Vote the Proxy, maybe

    I'm with Newman on this one. Monday is not too long to wait to vote. I hate this crap as much as the next Buzzer, but we need the latest information possible before making a critical decision about which way to vote.

    We retail types no doubt have shares that carry WAY less weight than our more deep pocketed fellow stockholders at institution level--but remember the mouse that roared?

    Also, I read an interesting piece in the Chicago paper today at this link that covers the Goss take and pretty well summarizes SIRI's and the company's plight: http://www.chicagotribune.com/busine...,1725015.story

    I will need to re-read my proxy vote instructions to be clear on how long I can wait to cast my votes on the measures. I have no problem with those that voted early on conviction; however, remember there are many unknowns remaining between now and the shareholder meeting.... IMHO

    Long SIRI

  7. #17
    SiriusHope is offline
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    I will wait to vote until next CC to see the attitude of MEL and the state of affairs.

  8. #18
    SiriusHope is offline
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    PMO

    Thanks for the3 chicago trib article...very interesting... seems the writer has faith in our company.

  9. #19
    homer985 is offline
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    Emotions are a horrible thing to allow to enter into the voting process.

  10. #20
    vaporgold is offline
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    Homer...

    The reason I am voting no is not based on emotion. It is based on the performance of the mangement of SiriusXM related to the stock price.

    If the mangement can service the Feb note now, and or the May Dec notes with favorable fianancing, the stock price will rise. The need for additional shares or a RS will probably be mute.

    If they have the power on hand to do a RS and or to issue more shares, as a way to bail themselves out again, the result besides the dilution will be a shorting frenzy faster then the one we just had that will just drive the stock back down again, and this will occur after the RS.

    Like it or not, at some point SiriusXM mangement needs to bring this company to profitability.

    You do that by reducing operating costs, re-negoiate content contracts for reductions, increasing advertising spending in the retail market, cutting any and all bonuses cash or stock for all employees especially top mangement, until the company is profitable.

    You have to get tough, and I mean really tough.

    If SiriusXM mangement wants to continue to dilute the company, can't get favorable loans, needs to do a RS and or issue more shares, It really will be time for the stockholders to request the resignatation of Mel and some members of his team and bring in new mangement that can take this Growing company to profitability.

    imho

    vaporgold

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