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

[choirgirl]

sl62,
Just talked to my sister back home, the media is all over the Opel deal and everybody is blaming Rick Wagoner and GM . I think this isn't fair, because they are in a lot of trouble and don't have much room to negotiate and as I said before, the real important counterpart now is Tim Geithner who holds all the assets of Opel. The unions are putting much pressure on the goverment over there, so I guess there will be a deal one way or the other and this is going to help GM and let's hope Sirius too.

Choirgirl...

Great info! Not surprised..And yes, they will get a deal done and yes, it's important they do. U.S. cannot afford to let GM go under. It would be suicide right here. NO way does GM go BK here.

And yes, that Applois has a great kick (and fast!). That Wagner was cool. That night we were there , we were told all they were serving was their Applois cause there were like two owners and one only served beer and one the Applois or something like that. The meal, atmosphere and everything was delicious

[cos1000]

[quote=sl62;16829]cos1000...

I have a question related to this but not through the same door we are closing. I'm confused by something that Brandon wrote and you just wrote again today. Maybe you can shed some light on this cause I can't seem to find this as fact anywhere. You reiterated today:

>>The May debt now has to be resolved before the 17th of March to avoid a default per the "going concern" paragraph. <<

s162,
It has been a hell of a week...... I have been on the road during the day drumming up some business for my company so haven't been able to participate in the discussion much. The good new is there's been some business to work on..... The fact that they have to resolve the May debt before the 17th is to avoid the KPMG, "Going Concern" paragraph. Knowing that debt is not extended, KPMG has to either write it in as a default issue or the debt needs to be taken care of by being extended or paid or whatever KPMG has said they would require. This is not in the extension, it Is in the Investment Agreement with Malone... KPMG can and does take into effect all past financial events and considers future events in making the "going concern" consideration. They can look up to 12 months forward.... I know as I write this response that all of the debt has already been taken care of and that this is moot. It now was a legitimate concern, and the fact that they completed all of the restructuring proves that the concern was legitimat and now unnecessary....

[john]

OK now back to gina, I need a thicker skin, are you kidding me. I was not the one who got upset over what I know cos1000 (D) would know was a joke. Second thing is lady you wont find anyone on here or SA with a thicker skin then me. I have had debates with homer, FrontMed, Charles, Tyler, Newman, cos1000, ect., ect. and the list gos on forever. There is actually a thread on here by people that have lost debates to me. I get ridiculed because I was not only correct but proven to be correct. Is some of it my fault for being a "I TOLD YOU SO" kind of guy, most likely but thats just who I am. I have no shame in it. If I am going to take the time to bother to debate someone then when I am proven to be correct (which almost always happens) you better believe I will get at least that much satisfaction. Now killerkaul knows I have said it is not that I am that intelligent. It is just a matter of me having common sense, logic, research, and not going to far off the reservation. If you follow those simple things you also will be proven to be correct almost all the time, as I have. It is nothing special just god dam common sense.

[john]

[QUOTE=cos1000;17232]

cos1000...

I have a question related to this but not through the same door we are closing. I'm confused by something that Brandon wrote and you just wrote again today. Maybe you can shed some light on this cause I can't seem to find this as fact anywhere. You reiterated today:

>>The May debt now has to be resolved before the 17th of March to avoid a default per the "going concern" paragraph. <<

s162,
It has been a hell of a week...... I have been on the road during the day drumming up some business for my company so haven't been able to participate in the discussion much. The good new is there's been some business to work on..... The fact that they have to resolve the May debt before the 17th is to avoid the KPMG, "Going Concern" paragraph. Knowing that debt is not extended, KPMG has to either write it in as a default issue or the debt needs to be taken care of by being extended or paid or whatever KPMG has said they would require. This is not in the extension, it Is in the Investment Agreement with Malone... KPMG can and does take into effect all past financial events and considers future events in making the "going concern" consideration. They can look up to 12 months forward.... I know as I write this response that all of the debt has already been taken care of and that this is moot. It now was a legitimate concern, and the fact that they completed all of the restructuring proves that the concern was legitimat and now unnecessary....

cos1000, Not to get on you about this, because as you know I felt this was a done deal as soon as I heard of the Dec coverts being reconverted and then the deal with Malone was signed sinched it. The fact remains then why not report now, why wait. Second as you said the deal could not be done unless KPMG had sign off on it so how did it happen if they have not signed off on it. Now we could go the other way and say KPMG was not going to sign off on it unless the Malone deal was finished. My point being your concern was over rated. It was all just a matter of working the last parts out and there was never any real concern.



P.S. The deal still sucks, Just not as bad as the shareholders got in 2000

[sl62]

[QUOTE=cos1000;17232]

cos1000...

I have a question related to this but not through the same door we are closing. I'm confused by something that Brandon wrote and you just wrote again today. Maybe you can shed some light on this cause I can't seem to find this as fact anywhere. You reiterated today:

>>The May debt now has to be resolved before the 17th of March to avoid a default per the "going concern" paragraph. <<

s162,
It has been a hell of a week...... I have been on the road during the day drumming up some business for my company so haven't been able to participate in the discussion much. The good new is there's been some business to work on..... The fact that they have to resolve the May debt before the 17th is to avoid the KPMG, "Going Concern" paragraph. Knowing that debt is not extended, KPMG has to either write it in as a default issue or the debt needs to be taken care of by being extended or paid or whatever KPMG has said they would require. This is not in the extension, it Is in the Investment Agreement with Malone... KPMG can and does take into effect all past financial events and considers future events in making the "going concern" consideration. They can look up to 12 months forward.... I know as I write this response that all of the debt has already been taken care of and that this is moot. It now was a legitimate concern, and the fact that they completed all of the restructuring proves that the concern was legitimat and now unnecessary....

cos1000...

Wb...Sorry you couldn't be here to celebrate the GREAT news...figures it was today huh when you had to be out?? Well, we missed ya. Yeah, the point is moot now and what we've spent many an hour fighting for has finally happened. A decent b-day present for me a few days early (Mon). I'll take it. Couldn't have asked for a better present from Mel, and Liberty. I'm glad we will all be able to watch the company realize their dream under these circumstances rather than through hollow jurisprudent hallways.. btw..Brandon's over on Relmor's thread taking his licks like a man if you have anything to say. He took a beating on SA today (relmor and I posted a few times and low and behold, they're still there!). At least he's owning up to it, which I have to respect... Anyway, have a "relaxing" weekend my friend...

[cos1000]

John, your right in saying that my concern was over rated.... I wasn't the one who over rated it... I simply asked the question of whether or not we should be concerned, knowing that the deal, because of the Going Concern contingency wasn't done, as evidenced by the extension instead of a 10K report. KPMG is the only reason the deal had to get done now. The filing can't happen without the deal certainty and now they have it... Now its a non issue... They will release info on the quarter if it is good news before the 17th, and lighten up a whole lot in their secrecy now that 2009 debt is resolved... Its time for them to execute on the business plan and get back to serving their customers....

Gina, trust me when I tell you that John is a, I Told You So, debater..... who loves the debate and rubbing your nose in it more than anyone I have met here on the boards.... Having said that, he is also an individual that doesn't mind sharing his knowledge on matters that he has devoted his time to research... (he has in the last year gotten me to take a look at the shipping industry and a I have made some money there), and then guide you in the right direction... Obnoxious at times, yes, older than he should be for a young man, absolutely.... but a dedicated seeker of truth and tenacious as a pit bull.... most certainly.

[quote=john;17247]

cos1000, Not to get on you about this, because as you know I felt this was a done deal as soon as I heard of the Dec coverts being reconverted and then the deal with Malone was signed sinched it. The fact remains then why not report now, why wait. Second as you said the deal could not be done unless KPMG had sign off on it so how did it happen if they have not signed off on it. Now we could go the other way and say KPMG was not going to sign off on it unless the Malone deal was finished. My point being your concern was over rated. It was all just a matter of working the last parts out and there was never any real concern.



P.S. The deal still sucks, Just not as bad as the shareholders got in 2000

[mogami]

Hi, you know I think Siri holders suffer from some sort of Stockholm syndrome. We worship the people who torture us. They choke us for months and we grovel when they let us breath for 30 seconds.
There had to be a better route to .14

[cos1000]

relmor, I am becoming more disenfranchised with your way of thinking with every keystroke you make.... you got to be kidding to think that you or I, other than adding some interesting and factual points about this company and stock, affect its price...... GET OVER YOURSELF MAN..... this is getting to be ridiculous.... Should I Kowtow to you now... or is their a specific day of the week that your HOLINESS wishes us to bow to your always wise pontifications????

[quote=relmor2003;16888]If they did go BK, I accept the guilt of affecting other peoples opinion in money matters. Yes. I have to live with that. Just like short and stubby have to live with convincing someone to sell at .03 cents, when .25 was offered not 2 days later. Thats a 800% swing. Pretty big money, IMVHO. Would I give them their money back...

[mogami]

Hey you know it's all good. On payday your not handing anything to me and i am not handing anything to you.
I would like however to have every point of view so I can MAKE UP MY OWN MIND.
I didn't panic because of your thread. I didn't panic because how Brandon interpreted you thread

[cos1000]

I am sorry relmor, I thought I explained myself earlier, and then earlier again, I post on these blogs not to be a leader but to be an investor that shares his own thoughts. I did not think in doing this that posters like yourself or anyone else would place any more importance on my posts than they deserve..... I am only a retail investor who does his own due diligence and loses his own share of money on the market.... I am not a conspirator who thinks the world is plotting against himself... Sirius IS and HAS BEEN a company in distress.. I like others have over invested in this company.....and have lost my fair share.... All I do now is try to get back from this market and company what I feel it has stolen from me.... I don't cry about it, I just educate myself as to what is going on, share it, and act on it... sometimes I am write and mostly I am wrong.... just like you, my friend..... so get off your high horse and join the real world..... and try to make the best of it.......... In actuallity with a little help from friends, I'm up in a down market. Want to know how I did that.... I stayed in cash, the dollar.....

Yes Gina, I agree with that. Ultimately its the personal investors decision, and has only himself to ultimately blame. Agreed. But if you are someone respected and listened to, it MIGHT be a good idea to "tred carefully" with "hot topic" issues. Thats all. A little personal responsibility is always a good thing. Watch "Hitchcock". Message is there of which I speak. He has NO OBLIGATION to help anyone. But hes "special" and he knows it. Cos1000, brandon, charlie, tyler, john, homer, are "special". As they are the most intelligent posters(maybe not Brandon, lol), THEY have added responsibility whether they want to accept it or not. Watch "Spiderman". With great powers comes great responsibility. In this case the great power is "information and opinon". Is it responsible for Greenspan to come on tomorrow, and tell everyone to pull their money out of the banks, if he sees it as "a possibility" of a FDIC default? Of course that would be irresponsible, becuase of WHO HE IS. Now if I do it, its not so bad. In fact, it would go unheard.