When will Sirius have to file BK ?

[Hughes]

That is what I thought. So we will not have to wait the long weekend huh ? This may be a sad weekend for a bunch of dudes.

Well there's always alcohol.

[sxminvestor]

Missed interest payments typically do not lead to default until 30-days after the due date. Payment of the principle is completely different -- and I see nothing in the indenture for the Feb09 bonds that says they get an additional 30 days.

The Sirius indenture does allow for up to 30 days to make the interest payment.

Homer you popped up today and really came to life, but you are spreading fear. Isn't it already in the stock price ? I'd appreciate if you address my question above about the upfront cash Sirius has been receiving from "Best of" and grandfathering family sub plans over last several months. Is this in your cash flow analysis ?

[Siriusowner]

Well there's always alcohol.

I concur...

[homer985]

With the company facing bankruptcy and a million equity holders near losing their investment -- we should be fearful.

As for new cash? The problem here, is that we have no idea how much is coming in.

I guess, in the back of my mind -- I think that Mel maybe trying to just wipe out all of the maturities at one time to annonce them all at one time... the Feb and Dec have been repurchased, restructured or whatever and the May has been extended.

But I don't want to fall into that trap -- I think those holding out for some glimmer of hope should be slapped across the face with the reality that you really could loose everything invested in Sirius this weekend.

While I made lots over the years -- I do have a small amount still in the game, that I am willing to bet on this possibility. I've accepted it at this point -- but reading the boards today, I don't think many have. I sense fear in them and they're looking for any silver lining they can find... but they've got to be prepared for what has a good chance of happening.



--------

[ray]

Mel really is taking out the trash

this is good old fashion capitalism working and loving it

no gov just companies trying to make it

Long siri long our founding fathers

[sxminvestor]

With the company facing bankruptcy and a million equity holders near losing their investment -- we should be fearful.

As for new cash? The problem here, is that we have no idea how much is coming in.

I guess, in the back of my mind -- I think that Mel maybe trying to just wipe out all of the maturities at one time to annonce them all at one time... the Feb and Dec have been repurchased, restructured or whatever and the May has been extended.

But I don't want to fall into that trap -- I think those holding out for some glimmer of hope should be slapped across the face with the reality that you really could loose everything invested in Sirius this weekend.

While I made lots over the years -- I do have a small amount still in the game, that I am willing to bet on this possibility. I've accepted it at this point -- but reading the boards today, I don't think many have. I sense fear in them and they're looking for any silver lining they can find... but they've got to be prepared for what has a good chance of happening.



--------

That's all I'm getting at, there is hope. I also think that there is a possibility that Sirius is in a little better cash position to handle this Feb debt and buy some time to get the May reworked. You are looking at historical #'s, but have not seen 4thQ or wha they have been able to do in 1st 1 1/2 months.

Sorry, also just shocked that nobody from the outside will step forward and invest 100M to help, knowing Mel's track record.

[Siriusowner]

Sorry, also just shocked that nobody from the outside will step forward and invest 100M to help, knowing Mel's track record.

That is what I have asked, where's JPM and UBS, do they think they will be throwing good money after bad ?

[sxminvestor]

That is what I have asked, where's JPM and UBS, do they think they will be throwing good money after bad ?

You give them a few hundred million loan, then give the credit markets a chance to thaw and loosen over next few months and extend the May with a bridge loan. Just give Mel a chance to show what he can do with cost and operational leverage of this merger.

The NAB with all the planted bad publicityand the shorts have caused the pps to sink so low that Mel couldn't even sell the shares he got authorized.

Let's at least get to the report and see where they stand with their balance sheet.

[Siriusowner]

Let's at least get to the report and see where they stand with their balance sheet.

Well, is all just speculation. We really do not know how well Sirius did last quarter, but do you think JPM, UBS, Ergen or Malone do not know ? Of course they do... and we will find out tomorrow, not 2/23.

[Demian]

I just do not know, is it tomorrow or Tuesday ?

Answer - Never!

SIRI will never go bankrupt......