Originally Posted by
sxminvestor
News will come out in the next few days that they are continuing to sell boatloads of shares to cut down the Feb debt. They need about 650M by April for the Feb + May debt. At 20 cents, they need to sell 3 billion shares without going into cash. They asked the shares to be almost doubled to 8.5 billion, so they will continue to sell shares for debt because nobody will likely give them a term-loan in this atmosphere.
Hate to say it, but it's the only way to stave off bankruptcy. Even with a miracle term loan, big trouble is looming with car sales & loans & we could end up being in the 8 million cars sold range in 2009. Sirius will have a hard time increasing revenue next year at this level and being cash flow positive.
I feel this stock is headed for 10 cents and a at least 7.5 billion shares and then a 1:50 reverse split.
Incredible product though - what a shame what the FCC did, how Hartlieb helped with the delay and what a perfect storm hitting right now in the US and the world. We're close to depression people, so I would not add any more because you are jus pissing away your $.
And believe me, I want to load up big under 20 cents, but playing super lotto might be easier to hit or less risky. At least Lotto is just $1. I would want to buy 100k shares or more, but ZERO confidence because of my feelings above.