I dont think it will double but I expect to see another 2 bil added, which will keep this from running up too quicklyQuote:
Originally Posted by winagain35
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I dont think it will double but I expect to see another 2 bil added, which will keep this from running up too quicklyQuote:
Originally Posted by winagain35
Hmmm, I guess we can assume that this is no longer a mere bridge loan... What would be the valuation of SIRI with 100% dilution and no BK?
I feel mathbowl flashbacks coming on...
I see your point about the RS but we have no immediate need to meet NASDAQ listing requirements... lol sorry I am just so against the RS as it would defeat my purpose for being in this stock!
Agreed... BUT - a reverse split would be seen much more favorable as part of some good refinancing news. With an 8billion share float, it could take a while to get over a buck... and it would be better to make it happen now than to be forced into it later.Quote:
Originally Posted by Hopeful
Quote:
Originally Posted by winagain35
they cannot due a r/s for the sake of lowering the outstanding share's
reason #1 The vote was to allow them to do a r/s for nasdaq complaince only, not for reducing the outstanding share's, if they did it without holding a new vote they would be in a bit of trouble i think.
reason #2 Mel owns share's in this company too, a r/s split hurts him as much as the rest of us
reason #3 being a little diluted is good for a company yet to break fcf because it makes the losses look less, to me a r/s would come when we break fcf and are over a dollar or so. Of course it would be hard to get a vote for it to pass imo
From Financial Times quote: "The deal offered by Liberty would involve a debt for equity swap".
My question: does "equity" mean shares or does it mean a financial interest in the company?
Are any of us sure that this means shares? I really thing this is more of a "joint venture" kind of thing, perhaps involving shares, but not maybe not completely? I do not know government regulations on this, but I bet it is complex.
Anyone have any ideas or knowledge?
If Liberty were do get shares, I would think it would be with the proviso that they would not sell them for a period of time. Therefore, there would not be any dilution into the marketplace at the current time. Therefore, I would think Sirius XM would wait for the stock price to go up before doing a reverse split. There is no point in doing it now.
I may be mistaken, but I don't believe there were conditions placed upon the reverse split. I know that Mel said that they would only use it in order to maintain nasdaq compliance, but I also don't think he envisioned this much dilution(if that's indeed what's happening). I don't think a reverse split is a bad move here if it's packaged the right way.Quote:
Originally Posted by trippingthespeculatingpos
With this news and Charles is giving away a Slacker for headline news ?
Someone quoted this from the Wall Street Journal:
Under the proposed agreement, Liberty would invest several hundred million dollars in Sirius XM in two stages and eventually control about half of the company, WSJ sources said.
So, if the above is true, will our shares still exist in six months or so as "SIRI"?
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!!!
Quote:
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.