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what u guys are not taking into account that this stock is priced well below what a little dilution would do to it, its priced with the idea that siri is going belly up, i guarantee if mel did a r/s without the threat decomplaince he would have to deal with some angry angry shareholder's. Possibly legal action.
Mel clearly stated the purpose of voting on a RS was to have the approval from the stock holders to do so & only to be use to avoid delisting!:cool:
jesus you guys are worse than the yahoo boards now, okay just give in to it then, siri will not go higher than .15 cent's, aww damn that dilution, malone's gonna come in and dilute everything and then were all goign to have worthless stock my god wenfnewfno2fn2en the end is here siri is not filing for bk and were DOOMED!!!
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Originally Posted by trippingthespeculatingpos
Aahahhahaahahahahahahahahaahahahahahhaahahahahahah ahaahahaahahaa!!!
Mel won't do a RS until it's absolutely necessary (which it might be to hammer out this deal), but he knows just like the rest of us that once a RS happens, this stock will get shorted back down to nothing until the company proves they can turn a profit.
I was also thinking last night about how heavily traded this stock is. Do you guys think that stocks traded this heavily, that are this popular, are the ones that usually make people into millionaires over night? I'm leaning towards no.
I do think we'll see a significant % pop, and I think this is why institutions are loading up. Just as quickly as you see them pick up 8 million shares, you will see quite a few of these guys drop them like hot cakes once we hit .25 or .30
That's just how i see this panning out.
Not trying to be negative, just how i see it. I'm in for 13k shares around .40
He said that, but it wasn't in the proxy vote. A reverse split isn't inherently bad! It doesn't change the value of your investment at all. And if it's packaged as part of a company stock overhaul, it may be a good thing. The fear is that it gives the shorts more meat to attack, but the company is going to be a much more appealing investment for NEW money as a five dollar stock than it is as a .25 stock.Quote:
Originally Posted by Sworntwofun
As far as I know there were no restrictions on the issuing of additional shares or for the reverse split except for what was said in the proxy.Quote:
Originally Posted by trippingthespeculatingpos
2. To approve an amendment to our certificate of incorporation to increase the number of authorized shares of our common stock from 4,500,000,000 to 8,000,000,000 shares.
3. To approve an amendment to our certificate of incorporation to (i) effect a reverse stock split of our common stock by a ratio of not less than one-for-ten and not more than one-for-fifty at any time prior to December 31, 2009, with the exact ratio to be set at a whole number within this range to be determined by our board of directors in its discretion, and (ii) reduce the number of authorized shares of our common stock as set forth in the proxy statement
I think the guy at Liberty is smarter than to get a lot of stock and unload it into the marketplace. It seems he believes in the merits of Sirius XM. Therefore, no matter how many shares are "issued" to him, if they are not traded, they will not affect the supply/demand ratio on any given day.
If he truy believes he is making an investment, I would think he would hold any shares he gets until Sirius XM is cooking on all burners, and with the stock price a lot higher. That's what I would do - and I know I'm not nearly as smart as this guy!!!!!
yes but mel would be publicly going against what he said to investors and this i think would get him into legal trouble, people im done convincing, your obviously set on being skeptical so have fun with it.