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This seems to assume that sirius has no other source of cash to pay the remaining maturities. Aren't they receiving something like $260 million/month in subscription payments, surely they can put aside a little here and there :-)Quote:
Originally Posted by J56D
they want you selling so they can cover, big boy's covering and they are preventing the short squeeze by meeting the bid's and buying back in 100 share blocks, manipulation at its finest, just wait till they cover then they will buy in and give a buy rating.
good call tripp,
WOW this place is a ghost town now lol...
yeah Hopeful I was thinking the same thing. I was looking forward to a little more feedback today on what everyone's thoughts were. Maybe everyone crashed after finding out we were out of the BK woods this morning. Hopefully they will be joining in a little more later this evening. That is unless they all cashed out at .22 and are out spending their earnings.
But with all the alcohol thats been drunk over the last week because of this issue, who's liver could take anymore.
Still not seeing a bounce in the after hours either.
i think when the deal is made even clearer and the conference call clears up siri's performance as of late that should give it some more boost, just remember it moved up 50 percent today, if it moves up 50 percent every day it will be at a dollar in no time.
SIRI closed up 52.526% @ .16 on a whopping volume of over 326 million shares traded.
This with the market bloody red with the DOW down almost 300.
Better than zero, eh?
It won't move 50% every day. Today events were extraordinary.Quote:
Originally Posted by trippingthespeculatingpos
We will be lucky if it goes back to trading in full cent increments by mid-year. And I am being too bullish.
The 8K has been posted on the Sirius website.
http://investor.sirius.com/secfiling...=930413-09-841
As of February 13, 2009, 3,793,193,708 shares of our common stock were outstanding. Keep this number in mind because it will be interesting to see how it grows.
today is just the start of siri news, i think will be suprised, if the mm's stop holding it down it could keep flying. Even if it made a few more 50 percent moves and then only made 20 percent moves it would get to a dollar quick. I think the conference call is going to make a big diff, right now everything is in the air cause if siri is not increasing subs and rev while cutting operating cost's then we got a long ways to go. Im confident we will see improvements though.
I would have to think with the deal Mel took today the 4q #'s must be awful they stated a number of times that they could pay the Feb debt in cash. (that was also before they chipped away at it) so if the have not ate through most coh I will be very surprised and disapointed with what Mel settled for.
I am a little disappointed that the price of the stock did not pop today. It would have been nice to get closer to my break even point of 56 cents but the strongest feeling that I have is relief. Relief, that the stock that I have held for a number of years (averaging down from $4.00 to $.56) was not going to be cancelled. Ultimately, if the business can deal with the debt in May and December the price will rise
I am going to try to try to pick up some more shares while the price is still low. I am not talking about a huge number but maybe enough to compensate for some of the dilution that will occur. Then I would like to see the reverse split. I am tired of looking at this thing in this price range.
Being realistic and assuming that in fact this issue moves up and not down or sideways, I expect the price of this issue consistently be between .35 and .40 by June, IF and only IF the company posts strong earnings.
.85 to .90 by the end of the year (12/31/2009). Perhaps on the brink of breaking the $1.00 barrier. Hopefully ther won't be a need for an R/S.
I hope to have accumulated more shares by then (say 50K).
Ya, can't wait for it to move up to a dollar...haha ;)Quote:
Originally Posted by trippingthespeculatingpos
sounds like a realistic scenario, but do you not think we will get a pop from cc and starplayer?
This is the problem with people in the US, always wanting more. This is why we have the housing and credit crisis.Quote:
Originally Posted by James
You shouldn't be disappointed. There were 2 alternatives: You either lose all your money or not...and you did not !!!
I am just waiting for a case of whiskey...:)Quote:
Originally Posted by trippingthespeculatingpos
http://investor.sirius.com/secfiling...950123-09-2867
EXHIBIT 99.1
SIRIUS XM RADIO ANNOUNCES EXCHANGE OF $172.5 MILLION OF EXISTING
CONVERTIBLE SENIOR NOTES DUE 2009 FOR NEW SENIOR SECURED
NOTES DUE 2011
NEW YORK — February 13, 2009 — SIRIUS XM Radio (NASDAQ: SIRI) announced today that XM Satellite Radio Holdings Inc., its wholly-owned subsidiary, had exchanged approximately $172.5 million aggregate principal amount of its outstanding 10% Convertible Senior Notes due December 2009 for a like principal amount of its newly issued Senior Secured Notes due 2011. An aggregate of $400 million in principal amount of the 10% Convertible Senior Notes due December 2009 was outstanding prior to this transaction.
The new Senior Secured Notes will mature on June 1, 2011. The notes will bear interest at the following rates: initially at 10% per annum paid in cash; from December 1, 2009 to December 1, 2010, at 10% per annum paid in cash and 2% per annum paid in kind; and from December 1, 2010 to maturity, at 10% per annum paid in cash and 4% per annum paid in kind. After the exchange, approximately $227.5 million aggregate principal of XM Holdings’ 10% Convertible Senior Notes due 2009 will remain outstanding. The Company received no proceeds from the exchange.
The purchasers of the new Senior Secured Notes will be paid an aggregate structuring fee of $9.45 million, $5.07 million of which was paid in cash and $4.38 million of which was paid in the in the form of shares of the Company’s common stock based on the closing sales price of the Company’s common stock on February 12, 2009, which was $0.074 per share. The exchange of 10% Convertible Senior Notes due 2009 for new Senior Secured Notes is part of a larger restructuring effort. The Company is in discussions with others with respect to transactions that could refinance some of its and its subsidiaries’ indebtedness. These transactions may not be successfully consummated. If these transactions are not consummated, it may be forced to file for bankruptcy protection as early as February 17, 2009
That is a nice five day profit.
That is why I think there will be an uptrend. I am bullish. But I am cautiously bullish.Quote:
Originally Posted by trippingthespeculatingpos
Y'all got to keep in mind macroeconomics also. The economic environment today is not only an environment created by SIRIUS but it will affect SIRIUS.
Tripps, I have no doubt about what you are saying, I was just kidding around with you. As far as products that support SIRI goes...I don't know enough about that end of it to say, so consider it me learning that end from you. ;)
seeing how it acts tommorow will give us a clue.