SiriusBuzz Radio Tonight 10/16 – 9:00 PM EST – WITH SPECIAL GUEST
Don’t Forget – This show features a special guest that you wont want to miss.
SiriusBuzz Radio… Bringing you the Spirit of Satellite Radio.
Position – Long SIRI
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Who wants to guess?
I’ll throw one out… Tony Wible.
I won’t be able to listen live tonight, but I’ll definitely be catching the recording when I get home.
Mel Karmazin ?
Howard Stern???
Brandon Matthews? j/k
Eric the Midget
Mark Weinkes?
the head guy from xmu who got laid off or sick.
Michael Hartlieb!
Beetlejuice.. heyyyyy!!
That F’n wanker “from the Caymans”
“That F’n wanker “from the Caymans””
LMAO
vinny the loan shark who will lend us 1 bill with a 2 point vig
All great guesses, but no one has hit the nail on the head
Is it that Blalock guy?
Someone from XM who got laid off?
Is it that LoveSponge Squarepants guy?
oprah and friends
Steve Langford?
Tyler’s mom?
Tyler and Brandon could you please talk about the new PRE-14A… especially the parts about upping allowable shares and the reverse split.
Thanks!
http://investor.sirius.com/sec.....3-08-12948
Did any one read the proxy SEC filing of SiriusXM tonight for 12/18/08 shareholders meeting !!!!!
Mel The F*****G Bastard is filing for increase of shares up to 8,000,000,000 YES 8 Billions dilutions of our shares
Also, reverse split of at least 10:1 up to 50:1
Reverse my arse, did not he say NO reverse split few weeks ago !!!!! The f*****g Liar in bed with GS. They put target price down pre-merger $1.75 cuz they new he would borrow more money 2 days post merger.
Then they put it down $ 0.50 cuz they knew he was going to dilute further
Dear MEL, I have 300,000 shares and coming to NYC to vote NO on all of your scams
Id like some answers on this too. Sounds like another screw job coming to me.
To our Stockholders:
You are cordially invited to attend our Annual Meeting of Stockholders, which will be held on Thursday,
December 18, 2008, at 9:00 a.m., New York City time, in The Auditorium at The Equitable Center, 787 Seventh
Avenue, New York, New York 10019. The annual meeting is being held to:
1. Elect twelve directors.
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.
4. Ratify the appointment of KPMG LLP as our independent registered public accountants for 2008.
5. Transact any other business that may properly come before the meeting and any adjournments thereof.
Is this an option or plans to add more shares and reverse split???
Tyler or Brandon
Could you please comment on these proposals
Reverse split hardly work even if the company can survive
Look at PALM 1:20 when was $1.25
JDSU 1:8 when was $1.9
Both are about $ 5-6 ( 50% of pre split)
MEL’s idea of refinancing is by squeezing us more and doubling the shares
I say no reverse split unless we get near the 180 day limit.
This does not mean that they will increase shares or do the reverse split. Just that they would have the authorization to do either if necessary.
Wow. If that is what he is planning on doing we are really getting boned. It will take us 10 years to get our money back. Son of a .
If this thing is really that shorted and naked at that, why don’t we change our symbol and make all of these creeps cover and start buying back shares? Let’s squeeze these S.O.B’s.
Oh wait, I guess we’re aren’t even able to get financing at this point. I got a little ahead of myself.
spanyo Says:
Then he could ask only for revrse split and that will give him more shares to the 4.5 Billions
I can’t wait till the meeting in NYC
Ol Big Tooth just played his hand. And it wasn’t a new investment strategy. It was a screw the current shareholders strategy. Next small pop and I unload my remaining shares. This thing goes in the .20’s soon.
I knew when he spun his b.s. at that conference we were hosed again. Can you say setup? Cause that’s where we went. What do you think he will get for those shares. .10. Enough to pay off the debt. Great. And still people post how Mel is so great based on his track record.
He was never prepared for any of this.
After Hours Trade Reporting
WHAT IS THIS AFTER HOURS
After Hours
Last: $ .397 After Hours
High: $ .4071
After Hours
Volume: 11,175,854 After Hours
Low: $ .3803
Who is trading this kind of share???
16:08 $ .39 8,521,646
Who used the KY last. I’m going to need it now. I’ll pass it on when I’m done with my a$$ reaming. This sucks. What a dick.
Everyone calm down…
This is the backup plan, and let’s face it – we need one!
The board is putting various “worst case scenario” options on the table for shareholders to consider in the event we HAVE to. Among those options is raising equity with dilution to pay off debt AND/OR a reverse split to stave off delisting from the nasdaq. Keep in mind, this issue is being considered in December and it requires a VOTE. Not only that, but if the board deems it unnecessary – the deadline for a decision is NEXT December. Nothing is being done today or tomorrow… and financing between now and then could change everything.
Finally – this worst case scenario is BETTER than bankruptcy.
If they decide to reverse split 1:10 and give a share value of lets say 5.00 after split what will prevent the shorts from taking it down again to a dollar???
Sirius Hope can you tell if that share is being bought or sold? Just curious
Winagain35 Says
Did you look at theproxy?
How come most of the board members own now < 200,000 shares except for MEL who has a golden parachute
The Board members have been sellin and none is buying !!!
Is that how confident are they in their company?
Should not they have more stake if they believe in the product
Why should I vote for them?
MATT
sorry I cant tell if those 8+million shares were buys or sells.
What happened to the shareholder bailout plan???
A reverse split is better than taking the stock to the pink sheets or Bankruptcy.
Yes it is Kent. But hearing it is like getting kicked in the head when we’re already down on the ground.
I picked up more shares yesterday and knew this was coming. But by reading the financial press it seems there is a shift afoot. Instead of dissing SIRI there are speculative positive comments. Motley Fool, for example has two somewhat positive article out right now. One regarding positive effect on SIRI vis a vis “demand destruction” for gasoline (“5 Ways to Play Falling Oil Prices”). As gas prices go down the stock goes up. Duh. The other article (“Do These Stocks Deserve Your Support?”) gives SIRI the nod on the Corporate Governance Quotients rating. We all know how long MF has dissed SIRI, so I take these two articles with a cow lick-sized grain of salt–but hell, at least they are positive. As a former layoff victim (at VP level) I know how such action sting; however, at an objective business level I also know why they are necessary to business survival. This is why I take the unfortunate news about the layoffs at Sirius XM as a positive for SIRI. The signal is clearly that the company continues to work its post-merger plan, as tough as it is. To me it means that Mel–even as the one who gets the scowls for such action–is fighting a good fight. And for that I commend him, while empathizing with those that got pink slips. And then there is the product news, including another new release, the wearable receiver–GREAT news for Sirius XM product and service lovers. At any rate, today SUCKED the big one as far as the stock price. But take heart, longs, because the company will not go down without a fight–and that’s worth every risk so far. By the way, my guess for tonight’s radio show is Tony Wibel.
PM – I agree that the long term prospects for this company are great but I’m sure you’ve heard the saying, you can be right, but you can go broke before you get proven right. That’s how I feel.
I don’t understand how increasing the authorized shares has to do with a stock split since the shares would be much less, not more.
So a 1:10 would bring share count down to 330 million if they have 3.3 billion right now.
The only reason I can see them increasing share count that high would be to dilute and sell shares to pay off debt and then do the reverse split.
I hope this is not the case, but just my first reaction.
Too many people talking w too much emotion. Clearly this is the same as bk just a possible option. We know its a possibility but not probable. It is a last resort for all of us.
I still say it’s Mark Wienkes from GS……and he will upgrade SIRI on the show.
Kevin, I agree the emotions a running a little high after reading this but I’ll tell you this, if I would have traded more off of emotion a couple of months ago I wouldn’t have lost 70% of my investment. I tried staying calm with this thing because it is a great technology and that ended up costing me mucho dinero.
Sorry, but this smells of 4 billion shares being sold at .25/share and then they will be doing a 1:10 or 1:20 that would put the stock at $2.50 with 750 million shares outstanding or $5.00 with 375 million shares outstanding.
Massive dilution on the way – 20 cents coming.
If the approval comes at the same time for both, the float will be increased to 8 billion shares, and then the reverse split would reduce it again.
I will repeat my previous argument: I think reverse splits REAK of desperation.
I guess we will wait and see. My initial thought is to vote no, but like was said before, the vote is not until December so we will at least get the Q3 conference call to hear a little bit about it before we have to vote.
SXMI – I didn’t think we would get to the .20’s but this may be the catalyst.
Socal running fool..& others
Don’t give them any authorzation to take away our sgares and then flood the market again.
Vote No on the reverse stock split
Vote NO on the board members.
We are being f—-d again.
And some of you are right, With the reverse stock split and 8 BILLION shares this will be a short selling WET Dream back to under a buck again.
Think about what they are really doing to us. The only reason you reverse stock split is to take Shares out of the market. FINE
But to turn around and increase the amount of shares outstanding from 4.5 to 8 Billion is just the reverse.
The only thing they accomplish is screwing the current stock holders that have given SiriusXM money. So they can rope in new Investors and F—– them.
Put a stop to it, if they do this, stop your subscriptions
This is beyond any logic or sound thinking.
imho
vaporgold