Charles, I know you think paying 173 million of Feb converts would use up to much COH. I dont. I will also say Mel didnt ether, he was the one that had stated back in Nov., that they planned on taking half of the Feb. debt out using financing of some kind and if needed half in cash. He then went on to say that he believes the credit facilities due in May would be extended and that by the time the Dec. bonds come due SIRIXM will be almost profitable so those should be alot easyer to take care of. Mel in the Fortune interview said he was not happy to find out Ergen was trying to go after the Feb. bonds just as he was close to an agreement with them to get them to extend. While they needed the loan it was not because they could not have got everything done on their own. It was because Ergen came in and gave the banks a totally different option (option number 3) then work with Mel or take us to bankruptcy and get pennies on the dollar at some time latter.
You see Charles the key to this whole thing is SIRIXM was not really asking for more money. They were asking for extentions on money they already had. there is a big difference there because the options become very limited to the people holding the debt when they are trying to get their money back compared to them having to give out more or not.