View Poll Results: Should Sirius do a reverse split and if so how much

16. You may not vote on this poll
  • Yes

    2 12.50%
  • No

    13 81.25%
  • Unsure

    0 0%
  • 1 share for every 2 outstanding

    0 0%
  • 1 share for every 3 outstanding

    0 0%
  • 1 share for every 5 outstanding

    1 6.25%
  • 1 share for every 10 outstanding

    2 12.50%
Multiple Choice Poll.
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Results 21 to 23 of 23

Thread: Reverse Split - Good or Bad?

  1. #21
    spanyo is offline
    spanyo's Avatar
    Joined: Jul 2008 Posts: 135
    They'll be able to buyback shares down the road, but by then they will be worth a lot more than they were sold for.

    I guess this is why a reasonable loan would be better than dilution.

  2. #22
    cos1000 is offline
    Senior Member
    cos1000's Avatar
    Joined: Mar 2008 Posts: 402
    Other than concerns about being delisted there isn't any good reason for a reverse split. With the extension from Nasdaq until 1/15/09 and them not knowing about the extension when the "Preliminary" Proxy Statement was filed there is no need to vote in favor of the Rev Split. Why trust them to do this when it is not necessary and if they execute their business plan as projected the stock will be trading above a $1 by the end of the 2nd Qtr, 09. If its not, we're screwed anyway.

    If the RS is not because of delisting then they need to explain why. Authorization of 8 bil shares and then RS, sell chunks of new shares at the new price to institutions, don't release the authorized shares that have been reversed to the public, pay off debt, that might be a plan.

  3. #23
    deewcom is offline
    deewcom's Avatar
    Joined: Jul 2008 Posts: 166
    Right Cos. I agree. You put it in a nutshell. No one should vote in favor of a revsplit under current conditions. The fact is that Mel Karmazin could lend SIRI the February money it needs from his own pocket. He is sufficiently wealthy enough to do it. He alluded to that fact in a joking way during the Merrill Lynch presentation. If Mel announced that he would loan his own money to the company it might have a positive impact on the SP. That Mel remains tight lipped could be an indication that he wants the SP beaten down. Homer and others could give some reasons why that could be a good thing. AFAIC, (using Mel's unsophisticated term) it sucks.

    Why would Mel let Rupert Murdoch or anyone else steal the company from him (us)? Isn't Mel's money as good as Rupert's? Hey Mel - put your money where your mouth is.

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