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  1. relmor2003 is offline
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    03-12-2009, 06:13 PM #11
    Quote Originally Posted by SiriusBuzz View Post
    Is the current price a joke if they have negative subscriber additions in q1 and q2? It is looking more and more like that will be the case. Not to mention, the worst of the OEM numbers are yet to come.
    Yes. Because you can blame the worst economy is 80 years. Thats why. They would be "lucky" to have it happen at such an opportunitic time. Also, there improving balance sheet may not need many new adds for a small period of time. I wanted a plan to add revenue streams, else Im right with you. If Mel doesnt mention the Iphone and Ipod and DirectTV tie in, this stock might be at .12 cents right now. I heard what I wanted to hear. A plan to move sub needs away from car sales. So, yes , its a joke. No more merger writedowns. Huge synergies right when they need them. It might be a bit scarey , but I still think the market has a lot to do with the price right now too. Those 800 down days were a terror on spec plays.

  2. homer985 is offline
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    03-12-2009, 06:37 PM #12
    Quote Originally Posted by sxminvestor View Post
    With over 6 Billion shares outstanding when you factor in Liberty's stake and add to it the 1B shelf registration just filed tonight, they are valued at over 1.3 Billion, so this is not your typical penny stock.

    There is at least a 1:10 reverse coming at some point. It may be by the end of '09, not likely anytime soon as long as it is not required to stay listed on the Nasdaq.
    FWIW, this isn't a shelf registration... this is a registration statement (Prospectus) that falls under the previous Shelf.

    In this situation, when XM did their exchange of the Dec09 bonds, they exchange $172MM worth of old bonds for new ones -- and gave each holder a choice of $50 or 833 shares of stock (per $1,000 Note).

    Per that agreement, XM agreed to register the shares for sale. This prospectus does that.

    When XM did the exchange, it was a private placement - therefore the new Notes and shares given were unregistered. This registers them.

    This is not a new shelf or a new sale. Sirius gets nothing for this -- and it has no impact on the companies Market Value.


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  3. SiriusXMInvestor is offline
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    03-12-2009, 07:49 PM #13
    Quote Originally Posted by homer985 View Post
    FWIW, this isn't a shelf registration... this is a registration statement (Prospectus) that falls under the previous Shelf.

    In this situation, when XM did their exchange of the Dec09 bonds, they exchange $172MM worth of old bonds for new ones -- and gave each holder a choice of $50 or 833 shares of stock (per $1,000 Note).

    Per that agreement, XM agreed to register the shares for sale. This prospectus does that.

    When XM did the exchange, it was a private placement - therefore the new Notes and shares given were unregistered. This registers them.

    This is not a new shelf or a new sale. Sirius gets nothing for this -- and it has no impact on the companies Market Value.


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    WRONG HOMER!

    Sirius XM Files $1B Mixed-Securities Shelf >SIRI

    Mar 12, 2009 17:32:02 (ET)

    DOW JONES NEWSWIRES

    Sirius XM Radio Inc. (SIRI) on Thursday registered with the Securities and Exchange Commission to sell from time to time up to $1 billion of debt securities, preferred stock, depositary shares, common stock, warrants or purchase rights, stock purchase contracts and units.

    The satellite radio company said it intends to use the net proceeds for working capital and general corporate purposes.
    No underwriters were listed in the filing.

    Shares of the company closed Thursday at 19 cents, up 3 cents, or 19.63%.

    -By Denise Jia, Dow Jones Newswires; 202-862-1359; denise.jia@dowjones.com

    (END) Dow Jones Newswires

    March 12, 2009 17:32 ET (21:32 GMT)

  4. MyMDX08 is offline
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    03-12-2009, 08:51 PM #14
    I hope this will boost the stock more...

    Sirius is coming to IPhone sometime in 2Q

    http://seekingalpha.com/article/1256...o-iphone-in-q2

  5. homer985 is offline
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    03-12-2009, 09:38 PM #15
    Quote Originally Posted by SiriusXMInvestor View Post
    WRONG HOMER!
    "The Shares being offered for sale under this prospectus were originally issued by us pursuant to the note purchase agreement, dated February 13, 2009, among us, XM Satellite Radio Holdings Inc., XM 1500 Eckington LLC, XM Investment LLC, and the Selling Stockholders.

    Pursuant to the note purchase agreement, XM Satellite Radio Holdings Inc. agreed to issue to certain holders of its outstanding 10% Convertible Notes due 2009 (the “old notes”), including the Selling Stockholders, $172,485,000 in aggregate principal amount of Senior PIK Secured Notes due 2011 (the “exchange notes”) in exchange for a like principal amount of old notes. The exchange notes are fully and unconditionally guaranteed by XM 1500 Eckington LLC and XM Investment LLC, our wholly-owned subsidiaries, and are secured by a lien on certain real and personal property held by such entities.

    In addition, we paid these holders of old notes a fee, per $1,000 aggregate principal amount of old notes exchanged, in the amount of either (1) 833 shares of our common stock or (2) $50 cash, at each Selling Stockholder’s election. We agreed pursuant to the note purchase agreement to file this prospectus to register the Shares for resale."

    http://idea.sec.gov/Archives/edgar/d.../y74814sv3.htm


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  6. homer985 is offline
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    03-12-2009, 09:42 PM #16
    Shelf Registration's allow a company to have pre-registered instruments ready -- so that they can issue them quickly, if need be. XM and Sirius have both kept up to date Shelf Registrations on file with the SEC... they are only good for 2 years, before the expire.

    Regardless... you NEVER factor in the Shelf Registration that is on file with the SEC into a companies valuation. But that doesn't matter, as Sirius stated clearly that they had to register the shares for sale that they issued to the bond holders -- so they did so via this Registration Statement. They may have slipped in an updated Shelf into it -- but those instruments are not issued and have zero value to them.


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    Last edited by homer985; 03-12-2009 at 09:44 PM.

  7. SiriusBuzz is offline
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    03-12-2009, 10:14 PM #17
    Quote Originally Posted by relmor2003 View Post
    Yes. Because you can blame the worst economy is 80 years. Thats why. They would be "lucky" to have it happen at such an opportunitic time.
    Netflix added 1million new subscribers in the last 3 months of 08 which was over a 10% increase in subscriptions. Does the economy help Sirius? No. Is it all to blame. HELL NO.

    Quote Originally Posted by sxminvestor View Post
    With over 6 Billion shares outstanding when you factor in Liberty's stake and add to it the 1B shelf registration just filed tonight, they are valued at over 1.3 Billion, so this is not your typical penny stock.
    I agree BUT if you do not believe the company will succeed or the direction it is heading in, I think it is priced right. This company is far from out of the woods IMHO. Get ready for negative numbers in the Q1 report.
    Charles LaRocca
    SiriusBuzz Founder

  8. relmor2003 is offline
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    03-12-2009, 10:22 PM #18
    Quote Originally Posted by SiriusBuzz View Post
    Netflix added 1million new subscribers in the last 3 months of 08 which was over a 10% increase in subscriptions. Does the economy help Sirius? No. Is it all to blame. HELL NO.



    I agree BUT if you do not believe the company will succeed or the direction it is heading in, I think it is priced right. This company is far from out of the woods IMHO. Get ready for negative numbers in the Q1 report.
    Nexflix is not an appropriate example. There is no "higher end radio entertainment" that is more expensive to come down to. If your cancelling your satd, your cancelling XM or Sirius. If you have a business, you might cut it in hard economic times. If you have 3 subs, you might cancel one. Not necessarily a huge drop in "interest" but forced cancellations due to economic conditions. These things might rebound. Mel has a plan to counter this, used car market, iphone, ipod, more marketing, new retail outlets, etc...
    With Netflix, you are going from renting expensive videos at block buster, to Netflix. Like eating out every day at an expensive restraurant, then deciding from now on to go to Dennys. Ill bet you dennys sales are great, as you still get low end customers, and new customers who paid more for meals, etc...
    Movie going will suffer. More people will rent the video. Since netflix is a cheaper alternative to both going to the movies, and renting them, its a win win. In a better economic envirnment , they might add subs at a slower rate, or even reverse a tad. Or it evens out due to new customers who couldnt afford either, now can afford netflix. So the growth has solutions, its not a uncurable problem. If you have no confidence in the product at its price tier, why are you a long term investor? Sounds to me like you dont like their business model. I said negative growth might be played by the media, and made to drop the sp, but I didnt feel long term this would be unanswered, with a compentent CEO, as the product is top notch, and affordable.
    Last edited by relmor2003; 03-12-2009 at 10:25 PM.

  9. SiriusBuzz is offline
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    03-12-2009, 10:41 PM #19
    I totally disagree, I look at Netflix as totally unnecessary spending on "entertainment" just like Sirius XM. The alternative is not to go to blockbuster... the alternative is cut your Netflix sub and watch free TV just like your alternative to drop Sirius XM is free terrestrial.

    In a time where people are supposedly afraid to spend on unnecessary luxuries... Netflix continues to grow. This is just one example, forget about how well Netflix is doing, because I don't expect Mel to be half the CEO Reed Hastings is. There are other companies that have not had this kind of drop from Q4 07 to Q4 08. You can spin it however you want... 85k Q4 subs is embarassingly laughable.

    Since netflix is a cheaper alternative to both going to the movies, and renting them, its a win win.
    Sirius XM is cheaper then buying 1 album on iTunes or going to hear live music... so the money should really start rolling in any day now!

    So the growth has solutions, its not a uncurable problem.
    They should have started to address these problems years ago. They have no plan. Will you call an iPhone app that is 12 months late to market a success? Did they mention a blackberry storm app in their CC (I am honestly asking because I am not sure but, I am willing to bet they don't have one)?

    If you have no confidence in the product at its price tier, why are you a long term investor?
    I am not.
    Charles LaRocca
    SiriusBuzz Founder

  10. doobz26 is offline
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    03-12-2009, 11:08 PM #20
    I usually don't condone reading the Motley Fool... but they had an interesting take on Sirius management's excuse about Circuit City. Basically they said CC going under should've actually helped retail (not hurt as Mel and co. suggested) since CC was basically giving away satellite radios as they were closing up shop. Also... my own take... all of us here are aware of Sirius current financial struggles... but I bet the vast majority of subs and potential subs don't have a clue... and probably didn't have a clue that the companies merged. So I don't buy the negative articles about BK, or merger confusion as an excuse for low sub growth. I will accept that the economy sucks right now and car sales have a huge impact on sub growth.

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