Sirius just surprise reported 4Q - 10Q

Here's what it says - specifically for those interested:

Our stockholders have approved a reverse stock split, and a reverse stock split could have certain adverse affects.
In December 2008, our stockholders approved an amendment to our certificate of incorporation to effect a reverse stock split at a ratio of not less than one-for-ten and not more than one-for-fifty. Our board of directors has
authority to select an exchange ratio within the approved range at any time prior to December 31, 2009. Our board of directors intends to effect the reverse stock split only if it determines the reverse split to be in the best interests of the company and its stockholders.

A reverse stock split could have certain adverse consequences, including:
• if the reverse stock split is effected and the market price of our common stock declines, the percentage decline may be greater than would occur in the absence of a reverse stock split.
• there can be no assurance that the reverse stock split will result in any particular price for our common stock. As a result, the trading liquidity of our common stock may not necessarily improve.
• the total market capitalization of our common stock after the reverse stock split may be lower than the total market capitalization before the reverse stock split. Moreover, in the future, the market price of our common
stock following the reverse stock split may not exceed or remain higher than the market price prior to the reverse stock split.
• because the number of issued and outstanding shares of common stock would decrease as result of the reverse stock split, the number of authorized but unissued shares of common stock may increase on a relative basis. If
we issue additional shares of common stock, the ownership interest of our current stockholders would be diluted, possibly substantially.
• the proportion of unissued authorized shares to issued shares could, under certain circumstances, have an anti-takeover effect. For example, the issuance of a large block of common stock could dilute the stock ownership
of a person seeking to effect a change in the composition of the board of directors or contemplating a tender offer or other transaction for the combination of the company with another company.
• the reverse stock split may result in some stockholders owning “odd lots” of less than 100 shares of common stock. Odd lot shares may be more difficult to sell, and brokerage commissions and other costs of transactions
in odd lots are generally somewhat higher than the costs of transactions in “round lots” of even multiples of 100 shares.
• holders of common stock otherwise entitled to a fractional share as a result of the reverse stock split will receive a cash payment in lieu of such fractional share. As a result, the ownership interest in the company of certain
small stockholders could be terminated.

Another exerpt:
Liberty Media Corporation has significant influence over our business and affairs and its interests may differ from ours.
Liberty Media Corporation holds preferred stock that is convertible into 40% of the issued and outstanding shares of our common stock. Pursuant to the terms of the preferred stock held by Liberty Media we cannot take certain
actions, such as issue equity or debt securities, without the consent of Liberty Media. Additionally, upon expiration of the waiting period under Hart-Scott-Rodino Act, Liberty Media has the right to designate six members of our fifteenmember Board of Directors. We expect Liberty Media to designate these directors shortly. As a result, Liberty Media has significant influence over business and affairs. The interests of Liberty Media may differ from the interests of other holders of our common stock. The extent of Liberty Media’s stock ownership in us also may have the effect of discouraging offers to acquire control of us and may preclude holders of our common stock from receiving any premium above market price for their shares that may be offered in connection with any attempt to acquire control of us.

Quote:

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Originally Posted by Brandon Matthews

I hate to say I told you so, but I told you so...

look at retail...they LOST 333,628 retail subs in 2008. Where are my critics? I just baked some humble pie....come have a slice..

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I've refrained from name calling thus far, but you're really trying my patience here! No one said that they would not be a net loss of retail subs. The point is you were neglecting gorss retail sales after you already included the gross retail loss in the churn calculation.

I am surprised that the Q4 retail loss if highe than I expected though.

(in thousands, except share and per share data)
Total revenue $ 1,663,992
Net loss (5,313,288 )
Net loss per share (basic and diluted) $ (2.45 )
Weighted average common shares outstanding (basic and diluted) 2,169,489

Balance Sheet Data:
Cash and cash equivalents $ 380,446
Restricted investments 141,250
Total assets 7,490,695
Long-term debt, net of current portion 2,851,740

Quote:

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Originally Posted by Brandon Matthews

I hate to say I told you so, but I told you so...

look at retail...they LOST 333,628 retail subs in 2008. Where are my critics? I just baked some humble pie....come have a slice..

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Your critics are still here. We wish you weren't. :behead:

Quote:

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Originally Posted by Brandon Matthews

I hate to say I told you so, but I told you so...

look at retail...they LOST 333,628 retail subs in 2008. Where are my critics? I just baked some humble pie....come have a slice..

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OK what am I missing? In 2007 there were 4.6 million retail subs. End of 2008 there are 8.9 million retail subs.

I'm curious to know where most of those 333,000 retail subscribers were lost, was it more on the XM side, or Sirius?
I'm sure there was a Merger catharsis that alot of shareholders sold into and out of. A percentage of the loss is probably due to shareholdrs/subscribers who became disgruntled.
Though I can't discount the bad economy and it's effect on the consumer tightening their budget, I think that big of a retail loss is an anomaly that will right itself. Let's face it, we should get some better radios too. Alot of that early retail was low quality crap!
I think the 10K was a good foundation for this re-booted Puppy to further grow into a Big Dog with more attractive potential in all aspects.

The lost retail are in pro forma. Down in actual the number is positive (I think since 2008 number is more then double 2007 number)

Quote:

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Originally Posted by Saatradical

I'm curious to know where most of those 333,000 retail subscribers were lost, was it more on the XM side, or Sirius?
I'm sure there was a Merger catharsis that alot of shareholders sold into and out of. A percentage of the loss is probably due to shareholdrs/subscribers who became disgruntled.
Though I can't discount the bad economy and it's effect on the consumer tightening their budget, I think that big of a retail loss is an anomaly that will right itself. Let's face it, we should get some better radios too. Alot of that early retail was low quality crap!
I think the 10K was a good foundation for this re-booted Puppy to further grow into a Big Dog with more attractive potential in all aspects.

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Based on the numbers - through and through - and in THIS MARKET - I think we did fine and can build from it. It could have been MUCH worse....

So as usual - I will continue to hold and try to edge in some more shares if we get a dip - it won't stay this low forever...

Sigh. More disappointment. You'd think the reincarnated supreme ruler of ancient Egypt (circa. 1300BC) could get a steady climb up with this stock?

Lets hope for a surprise in the CC, if there's no mention at all of a mobile OS app I may actually lose faith and sell at a loss, I'd be that fed up with their "silent" management style.