Test of Will or Stupidity...

[SiriuslyLong]

I guess that's me. I'm new to the stock market in general and so obviously new to SIRI, as well. I'm a double XM/BOS subscriber so when I was looking into stocks to invest in I started at home with products and services I have awareness of.

Being a person who enjoys nothing more than sitting in front of a computer researching and reading about things for hours on end I learned much about this stock and the company financial history while learning about the market at the same time. I bought some shares at .185 and since then bought more at various price points to end up right now with a little less than 30K shares at an average cost of .1083

So in my case it's probably not stupidity or will, just 'right place - right time'. Goodness knows I've done enough bone-headed things and made enough bad decisions in my life up to this point, so maybe this will turn out well for me and swing the pendulum back the other way a little.

First post, nice to be here. Hello!

Welcome. You're either lucky or smart, and I'm either unlucky or stupid as I'm averaged in at ~$1.50, and will not average down. If, big if, the share price goes near that price, I'm selling.

It looks like the Liberty guy is only working on the Feb debt, unless I've missed something. Best case scenario is that all 2009 debt is addressed, AND a positive earnings report for 4Q2008. That would set this off like a time bomb.

Worst case.............................

My feeling is that if Mel can't knock down all 2009 debt; he's filing. Just an opinion.

[john]

SiriuslyLong, First of all if the NY Post is correct, that would bring it to May credit facilities those will most likely be extended. First look at the bank SIRIXM is working with that is JP morgan the same bank that holds the 250 million credit, then look at who DirectV is working with UBS the other bank holding the last 100 million in credit facility. Not to mention both are tied very closely to SIRIXM, are invested in it. Second reread the article again (once again if the article is correct) the important word there is "SEVERAL" in the several hundred million brige loan. You dont use the word "several" unless it is more then at least 2 and more likely 4 to 5 or more.

[huppophonic]

Welcome. You're either lucky or smart, and I'm either unlucky or stupid as I'm averaged in at ~$1.50, and will not average down. If, big if, the share price goes near that price, I'm selling.

It looks like the Liberty guy is only working on the Feb debt, unless I've missed something. Best case scenario is that all 2009 debt is addressed, AND a positive earnings report for 4Q2008. That would set this off like a time bomb.

Worst case.............................

My feeling is that if Mel can't knock down all 2009 debt; he's filing. Just an opinion.

Thanks. I'd still call it lucky because if I happened to decide to get involved in the market earlier I probably would have bought the stock at a higher price, too.

The fact that I averaged down had less to do with reducing PPS than just wanting to own more shares since I still liked the potential based on what I had read and my own gut feeling.

It's my understanding that financial troubles of the company have all to do with big startup costs, pre-merger competition (and ending up with both ends), the merger delay and the various effects of the present economic climate. It's not that the company can't make money or that nobody likes the service, so as you say, a little break on one of those fronts should allow the company to gain some traction and then rise or fall on its own merits in the future.