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Thread: What's Next with the R/S over our heads?

  1. #1
    jjpoulin757 is offline
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    Joined: Dec 2008 Location: Virginia Beach Posts: 1

    What's Next with the R/S over our heads?

    Does anyone have any idea of what we can expect next. Now that the R/S is hanging over our heads it doesn't seem we're going to see any lift in the share price. I currently own 12k shares and I haven't bought a share since I've heard talk about the potential R/S. I figured it would be cheeper for me to buy more shares after the reverse when the stock will surely pull back again. Even though the NASDAQ extended the de-listing terms until April how will our shares price improve with a potential R/S looming. It feels like the R/S is inevitable even if we refinance our debt on time.

    Looking for people with real thoughts and opinions.


  2. #2
    Demian is offline
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    Joined: Oct 2008 Posts: 2,320
    Mel has stated clearly that the authorization for the RS is soley for NASDAQ listing reqirements only. He has stated that it would only be used for that purpose if needed.

    Financing of the '09 debt could cause the share price to recover and then there would be no RS...

    If SIRI can make it's way through the '09 debt - I am confident that there will be no RS. The extensions by the NASDAQ gives SIRI a lot of time and breathing room to work out the '09 debt without having it's back against the wall. Mel can wait for the credit markets to recover a bit now while he continues to cut costs and raise cash. The Feb debt could be paid in cash so Mel has lots of time to shop around and wait for things to improve. If he cuts costs dramatically, he could potentially pay off a majority of the '09 debt with cash if needed...

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