SIRI Intraday Updates for the Week of 12/22/08

[Demian]

AH thus far......


Sirius XM Radio Inc.
Dec. 22, 2008 Market Close: $ 0.1201

After Hours Trade Reporting

After Hours
Last: $ .12
After Hours
High: $ .121
After Hours
Volume: 125,978
After Hours
Low: $ .119

After Hours
Time (ET) After Hours
Price After Hours
Share Volume
16:53 $ .12 237
16:50 $ .12 1,000
16:48 $ .12 8,000
16:48 $ .12 2,000
16:36 $ .119 4,761
16:32 $ .119 5,000
16:32 $ .119 3,300
16:20 $ .12 439
16:20 $ .12 5,000
16:20 $ .12 1,000
16:20 $ .12 500
16:16 $ .12 10,000
16:07 $ .12 21,561
16:04 $ .12 5,000
16:04 $ .12 3,000
16:02 $ .12 3,080
16:02 $ .121 50,000
16:02 $ .119 2,100

[Demian]

Circuit City already filed bankruptcy awhile ago now and their stock is at .10 and opposed to Circuit City, SIRI's revenues are growing...

SIRI be cheap down here....

[SiriusXM - Jason]

anyone willing to comment on the newly issued shares after hours?

we're down to $193M due in Feb....we're getting there

unfortunately, the shares were only issued at a price of .144

[Demian]

Why are they exchanging shares for debt down at these levels when they are not due until Feb '09 ?????

Is this part of a bigger deal?

http://biz.yahoo.com/e/081222/siri8-k.html

Form 8-K for SIRIUS XM RADIO INC.

22-Dec-2008

Unregistered Sale of Equity Securities, Change in Directors or Principal Off


Item 3.02 Unregistered Sales of Equity Securities.
We have agreed to issue an aggregate of 108,100,000 shares of our common stock, par value $0.001 per share, in exchange for $15,640,000 principal amount of our 2�% Convertible Notes due 2009 (the "2�% Notes") beneficially owned by institutional holders. After giving effect to these exchanges, $193,588,000 aggregate principal amount of the 2�% Notes remain outstanding.

We will not receive any cash proceeds as a result of the exchange of our common stock for the 2�% Notes, which notes will be retired and cancelled. We executed these transactions to reduce our debt and interest cost, increase our equity, and improve our balance sheet. We may engage in additional exchanges in respect of our outstanding indebtedness if and as favorable opportunities arise.

The issuance of the shares of our common stock will be made pursuant to the exemption from the registration requirements of the Securities Act of 1933, as amended, contained in Section 3(a)(9) of such Act.



Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.
On December 19, 2008, James Rhyu, our Senior Vice President and Chief Accounting Officer, informed us that he expects to leave the company in January 2009. We understand that Mr. Rhyu expects to be appointed to a senior financial position at another company.

The Audit Committee of our Board of Directors has appointed Adrienne E. Calderone to serve as our acting principal accounting officer. Ms. Calderone, 41, has been employed by us since August 2006 as our Senior Vice President and Controller. Prior to the merger with XM, Ms. Calderone served as our principal accounting officer. From August 1994 to August 2006, Ms. Calderone was employed by PanAmSat Corporation, one of the world's largest fixed satellite services providers. From June 2001 through July 2005, Ms. Calderone served as Vice President & Controller of PanAmSat; from May 1997 through May 2001 she served as Senior Director & Controller; and from August 1994 through April 1997 she served as Assistant Controller of PanAmSat.

Ms. Calderone receives an annual base salary of $275,000 per year and annual bonuses in an amount determined by the company. In the event we terminate her employment without cause or she terminates her employment for good reason, Ms. Calderone will be entitled to receive severance payments, in the form of salary continuation, for a period of one year and any annual bonus she would have been entitled to receive in the year the termination occurs. We are also obligated to continue certain health and medical benefits for one year following her termination.

[SiriusXM - Jason]

it definately seems like they want to hold on to their cash reserves to fund operations throughout `09 instead of putting it towards the debt.

maybe they are afraid that by the time feb. comes around, the stock price will be even lower, which is a sound call given the trend.

the good news to takeaway here is that Mel found SOMEONE to sell shares to in this market. Regardless of price level and dilution - this is very good news in my opinion. The end of the year debt should be a piece of cake...we just need to get through Feb and May...really, at any cost.

[APEXSPORTS]

I SAID WE WOULD CLOSE AT .122 WITH LIGHT VOLUME ,AND WHO SELLS HERE ARE PEOPLE THAT WANT TO SAVE SOME MONEY AS MEL DILLUTED SHARES AFTRE HR TO PAY BONUSES.. AND ITS ONLY THE BEGGING.. AND .08 WILL HAPPEN BEFORE .25.. LETS WATCH AND SEE..

IM GETTING LONG AFTER WE PAY FEB DEBT WITH SHARES.. NO RISK OF IT TAKING OFF YET..

[Demian]

Good luck with your plan Apex, but guessing a bottom at this level is pretty risky.........I don't think it hits .10 - let alone .08........but good luck with that.

[sxminvestor]

Based on my calculations, shares were sold at .144, above the trading price.

Maybe they could gain access to the MLB 120M escrow and then they would only need to reduce by another 73 million for Feb.

Doubt it, but just a thought.

[stang3O2]

http://images.businessweek.com/ss/08...uential/21.htm

Sirius XM
Location: New York, NY
Industry: Media
2007 Sales: $922 million

For satellite radio in the U.S., there is now no other choice following the July 2008 merger of the two former rivals. The merger is an interesting case for law students because it shows how struggling rivals may be given the latitude to create a monopoly until new technologies catch on among consumers. Of course, if the market definition is broadened to include music for businesses, Sirius XM (SIRI) competes with Muzak; if the market is defined as all radio listeners, it has countless competitors

[SiriusHope]

AND YES i bought another 1000 shares today at .12 for a total of 14,000 now avg at .8234 and will buy another 1000 shortly to have 15,000 and thats all I will risk. GOOD LUCK to all that buy at these levels.