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Thread: Info from "My Investors"

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  1. #1
    RickF is offline
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    Info from "My Investors"

    I just cannot understand why so many Institutional investors would be buying with news like this??? I suspect that most folks here have seen this and i appologise if it is a duplicate - just trying to add to the group!

    http://www.myinvestorsplace.com/prof...:BlogPost:1961

    "This is a direct quote from the Sirius XM 10-Q form: "An inability to access additional sources of liquidity to fund our cash needs in '09 or thereafter or to refinance or otherwise fund the repayment of our maturing debt instruments could adversely affect our growth, our financial condition, our results of operations, and our ability to make payments on our debt, and could force us to seek the protection of the bankruptcy laws, which could materially adversely impact our ability to operate our business and to make payments under our debt instruments.""

  2. #2
    SiriusHope is offline
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    Rick

    Thanks for that link... I don't agree because there are institutions still buying in and conversions that were accepted would not have been if they thought BK was inevitable.

    Besides the company has cash to pay their bills. Bk is when a company is broke with no possible way to pay bills.

  3. #3
    Mario is offline
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    It is quite obvious that this must be the first quarterly report you have ever seen.

    I'm not pushing the stock, but this is really a Mickey Mouse statement disguised as a question.

    Ahhh screw it, I don't want to sugar coat it any more... you're an idiot.

  4. #4
    SiriusHope is offline
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    Mario

    who are you referring to as an idiot?

  5. #5
    RickF is offline
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    Mario - I am very much a newbie here - just trying my best to learn and offer what i can. If I have offended in any way - appologies. I really believe in Sirius and own a fair bit of the stock (more than I likely should). I also believe that it is being manipulated but I am in no way as stock wise as you. I appreciate all that is offered here - the posts that I agree with and those that I do not!

  6. #6
    SteveSirius is offline
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    RickF-

    Hi- The language you quote is what is known as "pro forma" language. Language of this kind is in lots of prospectuses and other SEC-related documents. There is often language such as "If financing is available there is no guarantee that it can be obtained on terms acceptable to ... or in amounts sufficient to ...." Such generic language is there to give "full disclosure" under government regulations and to protect companies against repercussions (law suits) if their plans do not come to fruition. Look at filings of other companies with similar needs to obtain financing and you will see similar "pro forma" language.

    All of the above is not to say that there are any guarantees of Sirius obtaining the financing it needs, but I for one am guardedly hopeful.

  7. #7
    SteveSirius is offline
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    Who is this guy "Mario" to call anyone an idiot? Such insults are completely out of place on this forum. We all come here to learn, to ask questions and to share any knowledge, insights and/or opinions. We ALL have something to learn. The question about the ominous sounding language put out in Sirius' legal papers is an excellent one. I wondered about the same thing until I saw such "warning" language (or other language warning about other potentialities) in many offering documents and financial reporting documents. Perhaps "Mario" does not understand the question. Let's just say "Mario" is ill-informed.

  8. #8
    SteveSirius is offline
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    RickF-

    Your question was an excellent one, especially in light of the large institutional ownership, which you pointed out. Keep up your sharing of information and questions. Don't worry about the "Marios" of the world.

  9. #9
    Newman is offline
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    Yeah, what SteveSirius said.

    As far as that article, there are so many things wrong with it that I don't even know where to start.

    The article lists 1.05 billion in debt. While this may sound petty, and we have no idea when the article was written, what it does not mention is the fact that some institution(s) is/were willing to accept a large amount of stock in exchange for 50 million in debt. As Steve said, why would an institution accept 50 million in stock if there were a possibility of the company going BK?

    Quote Originally Posted by My Investor Place
    The merger between the two satellite companies has not produced the "cost savings" everyone thought would occur.
    The merger has been completed for a whole 4 months? The two companies have never staed what their actual "cost savings" HAVE been, but we do know that they are expecting over 400 million in synergies in 2009, making them free cash flow positive for the year before CAPEX.

    As far as the Pro Forma statement that the article quoted, take a look at this Pro Forma:
    Microsoft 2008 10k. Go down about 6 pages to Section 1a: Risk Factors. It is about 3 pages long and has items like: We face intense competition, Challenges to our buisness model may reduce our revenues and operating margins, and the best one is: Catastrophic events or geo-political condition may disrupt our buisness.

    Oh, by the way: The 10k that this was in? The PR release said "Microsoft announces earnings increased to 15 billion for quarter"

    RickF: Welcome to the forums. If you have any questions about something, feel free to post them here, and make a disclaimer that you are new.
    But be very careful: Not all of us are as nice as Mario.
    Last edited by Newman; 11-06-2008 at 12:16 AM. Reason: My HTML skills are CRAP tonight.

  10. #10
    Mario is offline
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    Newbies must not buy Sirius

    Take your money and put it in the bank at 2%. If you want to show off, buy a tax free municipal bond, or a federal bond. If you want to totally blow your friends away, buy the SPY or the DIA when the Dow hits 8000.

    Do not in any way speculate anything, not even a dollar on Sirius. And honestly, I would suggest you stop reading this board just to head off temptation.

    And just for the naysayers, I'm actually bullish on Sirius.

  11. Ad Fairy Senior Member
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