Demian, that is correct it would kill any take over hopes. That is not a problem though because most intelligent people know that this companys spectrum alone is worth 6 or 7 billion (many have no idea just how much spectrum it is and how it will make SIRIXM a media giant the likes of which not seen in a long time). Many of those are in it because of the long term fortune that can be made off it. I for one did not get in it a second time starting back about 3 years ago to make a short term quick buck. The poison pill can also be taken off at a time the company is worth the appropriate PPS or be given a time frame that it would expire. Also it would not need a hostile take over there are plenty of shareholders that have gotten in on the cheap (.4 to .9) and would vote for a buyout of 2 dollars. Now if you think 2 dollars is a huge premium then you confirm what I just said about, people that have gotten in on the cheap, and if you dont then you should be as worried as I am.