Take A Look At The 12b-25 Ext: What Does It Reveal?

s162, I think you misunderstand my perspective.... Nowhere here have I said that the company, Mel, had any intentions of taking the company into BK. What I have said is that this deal is contingent on them getting the $250M, JPM Bank Debt taken care of. Either get it extended at reasonable (in this environment) terms, or find a way to pay it off. I also stated what is in front of us, not speculation. I stated that the May debt due date is irrelevant, and this Going Concern contingency on Malone / Liberty deal has moved it up to being taken care of before the March 17th, 10K file date. I have not raised these issues to cause "Fear", but rather to discuss the facts as they are being presented. There has been a good discussion....

The SP as .13 - .14 is as you say, waiting for the outcome... Today's trading was under 14M shares on an otherwise up day on the general markets... My take was to get 1/3 back in from what I took of the table Friday. I got back at .1302 yesterday. I still am concerned that this Deal Is NOT Done..... That is my opinion..... Regardless of how many times we see language in documents like this, It is This time and This Document that Malone's / Liberty money is on the line with... Mel and Company have managed to not get it done, just when we thought he had gotten it done.... until these bothersome details just happen to come out while filing his 10K extension.... NICE JOB MEL..... We are sitting here after all this time, waiting for Mel to get the May debt done... Great.... I'm not going to dispute that Mel is doing everything he needs to do to have a positive outcome.... but he doesn't have one yet....:(:(:(

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Originally Posted by sl62

cos1000...

I have to respectfully disagree with you about the SP where it relates to the 12b negativity. I'm sorry but .13/.1399/.14 (which has now held through the release of that document and it's contents) and with clearly more buying action (or covering, whichever) than selling, is not where this SP would be if the Street, shorts, etc.. truely believed this deal was in jeapordy of getting done. It would be holding at .08/.09/.10. IMHO...

And why? The Street is following Liberty on this not SIRI. No one in the Liberty camp, Malone/Maffei, nobody, has raised one issue of doubt about this deal. If they had even a clue that this wasn't but a formality, I'm confident something would have leaked out and of course SIRI would be out back as we speak. The stock action of the last 10 days has not been trending negative..rather, it's been more positive. I look at this SP as deal pending hold.

The other issue I forgot in my rant (sorry LOL) is why in the world would Mel go to the trouble of getting that crucial NASD special dispensation to circumvent a shareholder vote on this deal, if BK was just the next step? Sorry, I just don't buy it... JMHO

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I agree with sl62 that Mel is not running this company with the intent to BK. Check the vid, he is a good guy...

http://www.reuters.com/resources/fla...7916806746.flv

However I have continued my "puking feeling" of feb 17th lol...

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Originally Posted by cos1000

imromo24,

thanks for that ...... always fascinating to hear the origin of the phrases we adopt as our own....

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no prob. that definition motivated me to look closer at this situation and my position. im going to sleep on it, but im sure im adding tomorrow.

the history is: Pray to god for help, but keep some dry (gun) powder as insurance (in case god doesn't come through in time, lol)

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Originally Posted by Hopeful

I agree with sl62 that Mel is not running this company with the intent to BK. Check the vid, he is a good guy...

http://www.reuters.com/resources/fla...7916806746.flv

However I have continued my "puking feeling" of feb 17th lol...

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Well I'll just do what I did last time, make a few stiff drinks. Hopefully I'll black out, wake up on March 18th, and all will be right with the universe.

Baba...

Cool. Those steamers were (and that one is) very majestic. My ride is the Cutty, last of the great clippers...hailing fron the windy city, more than appropos I use the sails. We can't have too many cool boats to secure safe passage for the SIRI commoners LOL... :cool:

Should be easy to do Hughes- March 17th is St. paddies day so that'll help, no?

Hughes I am with you man!!! Coma time, bring out the black tar heroin!!! Not literally of course........

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Originally Posted by Brandon Matthews

I have been at this PC for about 14 straight hours. I had Joe Clayton for some reason on Liberty's board rather than echostars...then I realized the screw up...

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Sorry man, Im just messin with ya. You need thick skin with me, dont take me too seriously. Im Greek, my family yelled at each other every day to communicate. NO worries bro.

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Originally Posted by sl62

Baba...

Cool. Those steamers were (and that one is) very majestic. My ride is the Cutty, last of the great clippers...hailing fron the windy city, more than appropos I use the sails. We can't have too many cool boats to secure safe passage for the SIRI commoners LOL... :cool:

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Steerage to First Class...God bless each and every one.
(OK ... so I'm no Charles Dickens)

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Originally Posted by Hughes

Well I'll just do what I did last time, make a few stiff drinks. Hopefully I'll black out, wake up on March 18th, and all will be right with the universe.

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i'm new to posting on here although i have been peeking for over a year, right now u have come up with the best idea to deal with this pig stock.....thanks:p

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Originally Posted by seri

Jeesh,

Relmor probably should have been able to catch your drift and didn't need to use the word "gibberish". On the other hand, looking past the use of the word - he was just asking for some elaboration.

You could have replied with some elebaboration or said "none is necessary" but instead responded with actual gibberish.

I'd say its time to call it an eveing before we regress further.

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I agree. My brain is fried for the day. Im signing off. Good discussion today, and thanks to cos1000 for his research and offering the only details we really need to focus on. Sometimes you forget whats important. Night all.

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Originally Posted by imromo24

no prob. that definition motivated me to look closer at this situation and my position. im going to sleep on it, but im sure im adding tomorrow.

the history is: Pray to god for help, but keep some dry (gun) powder as insurance (in case god doesn't come through in time, lol)

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Maybe God just might want you to use the gunpowder

With the uncertainty this stock gives us , it is Great to still have a sense of humor !

for everyone out there, what happen to the v of value, his digging of holding this stock would be the only thing missing with tonights news!!!!

Jesus sl65... that was the most...hell I don't know what to call it..diatribe I've read in a while ...I loved it!!! Ya bum... I was trying to write up a similar post and then came across yours and said "shoot".. (not really it was sh_t) why waste my time, this dude is " on time" jammin on the keyboard. I gotta agree that it all just doesn't add up. that's the problem..without real time, honest info all we can do is pound our puddin and speculate...postulate...until we have to start paying off Congress' current transgressions. Or we take a nap and wake up on 3-17... hear what the custodians of our investment have to say and then make another plan.

Too many fosters tonight.. go'day mates...till tomorrow.
koop

cos1000...

You and relmor know how much I respect you guys. And I wasn't going off on you guys, just got a little frustrated how negative things suddenly have turned. I can certainly appreciate your positon of thinking but I really do view much of the 12b as standard CYA for this type of situation. With SIRI, and their prospecti, they always come with the overly negative language, I believe to 1. CYA but also 2. to do their under promise and upside deliver schtick. I for one, and I think thus far the Street agrees, believe that this deal awaits the i's and t's as relmor said. I mean how in the world does JPM not deliver on this? They were listed by Mel as a consulting partner...Liberty and Malone or Maffei (who has been in the media eye since the deal) have said not one word of warning. I have to take that as a positive. And who knows, maybe Mel is still trying to hammer out a better rate onteh extension. Hard to say. But I see little curently that points to a negative outcome. Again I appreciate you POV and thanks for starting the thread..I want to stay realistic but I also don't want to see overwhelming negativity rule the day at this juncture. Closure is at hand. Although, keep this in mind from the filing:

>>In addition to resulting in termination of further funding pursuant to the Investment Agreements, the inclusion of such a paragraph by KPMG LLP would result in a default under certain indebtedness of the Company, XM Holdings and XM Satellite Radio Inc. (“XM Inc.”) which defaults, if not cured or waived prior to the expiration of the applicable grace period, would result in an event of default under other indebtedness of the Company, XM Holdings and XM Inc. Such events of default, if they occur, provide the lenders the right to demand all amounts due under the respective agreements immediately due and payable.<<

First, the last part, >>all amounts due payable on default<<. Again, makes no sense that this is how SIRI would spend current COH no matter what it is reported at. And two, >>which defaults, if not cured or waived prior to the expiration of the applicable grace period<< we still may not get total closure by the CC. Remember this could still drag out to 4/15, which is the official end of grace. If this were to occur, I still wouldn't look at such as an event as any kind of deathnell. I've come to expect 11th hour from Mel. That may be the only way he knows how to do it LOL...anyway, thanks again for your efforts on the thread...:D

Also goodnight. yo

Got the Cubs/Sox game on tonight from Las Vegas...great to have baseball back (though I miss my football big time!). Could warmer weather be far behind?? Yeeesh. I hope so :sunny:

koop...

sorry dude...I just did that to make you post so I could see your cool avatar. Well done!

I'm prolly outahere for tonight too...peace.

Oh...gotta wish killer and the dog a solid night's rest. Glad you guys made it in today. :cheers: