Stifel Lowers Sirius Estimates on Weak Auto Sales 89 comments
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Stifel analyst Kit Springs issued a report Wednesday in which he lowered estimates in the subscriber and revenue category, but maintained a BUY rating with a price target of $1.25. Springs notes several factors in his report, but mostly ties the lowered guidance to weak auto sales. According to Spring, car sales will come in at 13.5 million for the year, rather than 13.8 million.
Among items that could be perceived as positive was the NPD retail sales, which were not down as far as Springs anticipated. While September sales were down 7%, and quarter sales were down 10%, it was a better number than the 25% down that the analyst was anticipating.
The Stifel buy rating with a target price to $1.25 is based on a 5 year DCF with 11.4% WACC and 7.6x terminal EBITDA multiple. Spring states, “100% downside seems like an increasingly likely scenario. That said, we see several multiples of upside possible should SIRI refinance successfully, potentially realistic should churn remain solid.”
Springs notes the following:
For 3Q08 we estimate pro forma:
• Net subscriber additions 321k vs. 435k previously,
• Self pay churn 1.76% vs. 1.75%,
• Revenues of $618.9MM vs. $619.1MM due to lower OEM additions,
• EBITDA of ($76MM) vs. ($86.2MM) as subscribers are initially dilutive,
• EPS of ($0.08), unchanged.
For the full year 2008:
• Net subscriber additions 1.76MM vs. 2.17MM,
• Self pay churn 1.74%, unchanged,
• Revenues of $2.418B vs. $2.419B,
• EBITDA of ($313MM) vs. (349MM),
• EPS of ($0.32) vs. ($0.33).
For the full year 2009:
• Net subscriber additions 1.99MM vs. 2.13MM,
• Self pay churn 1.84% vs. 1.81%,
• Revenues of $2.65B vs. $2.71B,
• EBITDA of $253MM vs. $293MM,
• EPS of ($0.15) vs. ($0.13).
Position - Long SIRI
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This article has 89 comments:
I'm printing out this article to save for comparison later...
Long Sirius
I am pretty confident they'll get the debt refinanced. But the RS scares the SHIT out of me.
I'd be better off selling now than face that bullshit.
It'd be the ULTIMATE slap in the face to ANYONE who has been LONG this stock. Who has supported Mel all this time only to be stabbed in the back.
My 10,000 shares would INSTANTLY become 200!!!!
And Sirius is not like Apple. It's not going to then go from $8 to over $100.
The inflated RS share price will be like ringing the friggin dinner bell for the shorts. They'll come in and rip my 200 shares to pieces.
You think the pain is bad now?
So vote NO on the Reverse Split.
I'd rather Mel try and fail then resort to this bullshit.
After all the dilution and RS , and all the smoke clears , basically the stock will be worth .20 ( RS price of 8.00 ) x 5 = 40.00 , for the 1.00 PPS to break even ........which is possible if Siri reaches any profit
I doubt I will ever be able to get my average down to 1.00 , and I wish us all the best of luck trying ..........but that looks like the target from here to be in a half decent position .
I wish Siri would sell / lease 3 channels to the US government in exchange for a few bailout buckaroos
1B ain't squat when you have printing presses
Makes sense to me .......makes a LOT of sense to me
What's 1B to the Gov ??? nothing , pocket change , and it would truly save a LOT of people
Especially since it was the Gov (FCC) , that helped create this mess
I warned everyone of my concerns over the buy ratings months ago, and its getting better(lower Price targets, lowered guidance, etc..) but still more to go I feel.
On Nov9th is a major turn day for the market and gold(huge inflation/deflation indicator). If gold breaks 950 by nov. 7th, 2009 will be a deflationary year(not good for Sirius). If it doesnt and especially if its in the 600, 700, or lower 800's, expect massive inflation in 09 to 10. This is good for Sirius. Lowering the FED rate helps, but LIBOR needs to go back under 2. Good luck with that.
What is the difference if they would have sold when the share price was e.g. $2.
So I am suggesting the US Government , Buy - Lease - Loan ( whatever ) , two or three channels from Siri for .......you guessed it , 1 billion dollars .........it's a break even for the Gov , and they get two channels for their purposes , ie military recruitment etc , and Siri gets out of debt , and we get some solvency back into our shares
THIS is a WIN for EVERYONE ..........MEL !!!!!! HELLO !!!!!! WAKE UP !!!!!!
Here it is. There are millions of retail longs in SIRI. If we organize, we can save SIRI single handedly.
Here is how.
The debt to be refinanced on Feb, 2009 is $300M
Let's refinance ourselves. Open a trust, with single purpose of lending money to SIRI with interest. Many of longs are down at least thousands. So assume everyone of us puts just $100 in the trust, and we lend the money to SIRI with 3% rate (Return on your savings acount in your bank is much less). If every long puts 100, we need just 3 million guys. Next, we refinance the other two installments of debt that are due in 2009 in same manner. So overall, $300 for 2009 per person. SIRI solves its debt issue until 2010 and gets breathing room to concenrate on business.
Sounds unrealistic you say? Probably yes, but why should only likes of Icahn be an activist shareholders. WE CAN DO also.
This idea got pretty good traction on SIRI board on Yahoo. The thread is called "Let's do something historic, unprecedented"
If interested in above mentioned campaign, send an email to savesiri@yahoo.com as well as create an account on thepoint.com and after logging-in, search for campaign SAVESIRIUS and join
And the next time we have a burst bubble ( a few analysts say 2012 ) , it is going to be the mother of all "pops" , because there are no more bailout dollars left for 10 years at least
I for one will not be giving any money to a trust fund , unless it is a stricken deal with siri , bonafied , sanctified , ratified , justified , and mortified !!!!!! ( meaning if you screw this up yer dead !!!!! )
BOARD MEMBERS AT SIRI LISTEN TO WHAt WE ARE SAYING TO YOU
SET UP PLAN
WE THE SHARE HOLDER INVESTED $$$$$$$$$$$$
WE DONT WANT TO LOSE OUT ASSES
WE ARE WILLING TO TO PAY THE DEBT
IN RETURN PAY US INTEREST ON THE MONEY
MEL I HOPE YOU OR OTHERS ON YOUR BOARD READING THIS STUFF
WE NEED TO MOVE ON THIS YESTERDAY
HELLO.................... ANY ONE THERE
ITS NOT HARD MEL
YOU NEGOTIATED FOR 18 MONTH TO AQUIRE XM
THIS SHOULD BE A WALK IN THE PARK
SET UP PLAN AND WE WILL HELP YOU
SHOW US SHARE HOLDERS THAT YOU ARE REAL
AND NOT PLANING TO F US
No actually it is not a no brainer. Because as of RIGHT NOW, this year and some of last has been very deflationary. When will it reverse is a guess and its still in doubt wether they can reinflate one more time. I know they can, but thats all. 2012 will see the crash to end all crashes. Thats how long the new cycle will last, just 3 years this time. Goes from like 12 years, to 6 years, now 3 years. Everyone getting this? Count the bull years from 1971 till now. See, its shrinking. Imagine a large boulder heading downhill and Ghandi on the end trying to catch it. Thats what 2012 will look like.
By then, whatever the end game is for Sirius, I would be worried about any investment.
Remember our last tally was 1.1B - .0305B = 1.0695B
Todays numbers are - .0195B = 1.0500B
Last time we tallied, the statement was issues by Siri.
"We may engage in additional exchanges in respect of our
outstanding indebtedness if and as favorable opportunities arise."
I guess a favorable opportunity arose!
If you take away the .425B estimated savings our new number would be 1.05B - .425B = .625B.
Another day, Another 19.5Million dollars.
This has been a public service announcement by the Big Blue Dog!
savesiri
Count me in for the lown
I like savesiri idea to lent sirixm money, with the modification proposed by shure 46
I think a loan to siri from stock holders is the best way to go.
One the other hand rs is criminal!
Why would the US Government want its own Sirius Channel? That is just funny. The Government propaganda system already controls all major media.
Bailout Sirius? Heil Hitler to all the Socialists. We see this market is controlled and manipulated but we guess at who is doing it. We all see it every day. We just act stupid and hope for the best. Then we let them put the Arsonist in control of the fire. The X-CEO of GS in control and we also let them merge the National Treasury with the private banking system FED. Come on people!
All the politics, centralized banking, centralized energy, centralized everything is leading to national control and suppression of all the people. The law of the land is no longer enforced. One judge ruled last week that it is OK to commit fraud as long as it is only against the American People (Defrauding the American People is not a Cause of Action).
Once was a time (in the Army) I would have died for my country, the USA. But no longer would I die or send my children to die for this country. However, I would die to end the corruption. I would die to restore the constitution. I would die to protect my brother. I would die to stop the spread of Socialism and these bailouts. I would die to remove this Government and restore it as was intended under the Constitution.
The Free Market died this year and we are being led to believe the stock market is not controlled. We are being led into a disaster. We are being guided into the same system in all the same ways as was used in Germany 1920’s -30’s to install Hitler.
Government Bailout for Sirius? Not even to save my life would I vote for that idea. And as most know my life depends on my very heavy long in Sirius.
Ok, LOL, I am off my soap box…
Please vote no to the Rev-Split
Simply put, cos1000 was right all along,,,,,,be patient & wait for info from the company before coming to any conclusions..............
We're all worried about 8 bil share dilution, 50 to 1 split, Mel's a crook, & on & on.......
We've lost focus (or at least I have) of the concerns that are right in front of us......a company with a lot of debt, negative cash flow, bad auto market, bad economy, less consumer spending...........The... are our biggest concerns to be making decissions on....
Trust that Mel is working hard to make all of these things right until you have proof that he's not.........If you don't trust Mel, then sell & get out.
Would you buy into a company in these conditions if you thought the mgmt was corrupt?????......... HELL NO,,,,,,, staying in one with those beliefs is the same thing.
Our biggest concern right now is this Q3 call........if churn is up & sales are down we're in trouble...........a disappointing Q3 call will have an affect on the sp until the company can prove it's getting better, which will not be until the next call, at best.
The weight on the stock due to debt, split and dilution will be lifted as soon as it's explained by the company. Those are just fears, poor performance is real........
WE MUST HAVE A REVERSE SPLIT!!!!!!!!!!!!!!!!
There are too many shares outstanding.....It's allowing the shorts to short,,,,,and the stock to be day traded in the tens of millions of shares.
WE MUST HAVE SHARE DILUTION!!!!!!!!!!!!!!...
It's the only way to pay the debt,,,,,,,,,,,,,,the company doesn't make any money yet!!! If you approve of giving a personal loan to the company (WHICH I DO NOT) than you should approve of a split and dilution...... Same result, paid debt instead of deferred...........
8 billion shares issued and 50 to 1 split are not going to happen.....they're worst case scenarios,,,, the only way that would happen is if the company is way under performing and ready to go under....................
So again,,,,, the reason to be concerned and what to watch is performance (churn, subs, synergies)....those are the determining factors..................
If we're at .75 cents in the middle of Dec. we could pay the $270 mil due in Feb with only an extra 360 million shares..............If we're at .45 cents it would take 600 million shares.
Let's just say, worst case they issue 1 billion shares,,,that puts us at 4.2 bil shares outstanding.........
If we are at .45 cents, hopefully higher depending on performance, then a 20 to 1 split will give a share price in the upper $6 range and 210 million shares after dilution and split. That would mean we had a $1.44 bil mrkt share to start which really better be higher.
So come February,,,,,,,4Q performance will make or break us..................
If Q4 is good we'll be fine ......................
Feb debt paid,
May debt extended,
210 mil shares instead of 4.2 billion (not enough to support massive shorting)
$6.80 share price (more attractive to everyone)
B of B reported for the first time in Q4 report (only 20% of current subs would mean $178 MILLION/yr of additional revenue THAT NO ONE IS TALKING ABOUT)
At this point, there's nothing to short!!!!!!!!!!!!!!
In fact, SIRI will be in the best shape of it's life which will easily support a $5 billion mrkt share
None of this works without PERFORMANCE..........
That's my focus from here..........(at least this week)
Cos,,,,,,,,,how am I doing??????
I Agree with you.... I have been stating the same reasons to Vote YES to share dilution and RS since the news came out.....
If you pay of the debt by raising money and distributing shares, That's like taking a loan out from the shareholders... The thing is SIRI doesn't have to pay that back.... NO MORE DEBT!!!!!!
Then RS.... The share price looks better and less shares outstanding.....
Now SIRI will be FREE OF DEBT.....
Have positive cash flow in a couple of quarters AT THE MOST!!!
And a growing subscriber base
SOMEONE WOULD HAVE TO BE CRAZY TO TRY TO SHORT THIS STOCK IN THAT POSITION
Day traders and people with low avg will vote yes.
True layal Investers of Sirius get screwed by greed.
Please vote No to the Rev Split.
I'm as "true and loyal" as there is,
I've been on this train wreck for over 3 years.......
I've added shares 4 or 5 times on the way down trying to average.
And, for the first time I actually sold 1/3 expecting the price to drop again so I can rebuy lower.......I'm still averaged in at $2.10 right now.
If I can get back in at my price point I'll get it down to around $1.30 avg........
I've decided to keep my head up and try to control my own destiny.......I'm no longer day dreaming about a wealthy future thanks to SIRIUS........
I've accepted that I'll never get even by watching....So, I'm doing something about it.....
Rev split and dilution is the last thing I wanted to see just like you,,,,,,,but right now we've got to be realistic about the options.........of which there are none............
By the way WTMBS,
This plan ONLY works IF the quartly numbers meet or beat............
This company is at a critical point,,,,,,NO ONE will continue to support this company based on future "hope"...
It MUST perform...............
If Q3 & Q4 show that the poor economy is hurting SIRI in the way of churn, & sub adds than SIRI will be diluting shares just to provide 2009 working capitol..........
People will RUN from this company..............
If I'm depressed over SATRAD, imagine what you're doing to me with that talk of "One world government" and "we're heading to the Hitler days of the 20's & 30's"
Take it easy, your freakin' me out..............lol
This is the sound of my hands slow clapping..... nice summary all we need now is some time..... there will be no quick solution, just a steady slow slog of hard work and good execution without wasting a dime. Advertising tied to product availability is essential. The stock price will probably keep getting pounded until a clear picture of positive results is displayed for everyone to see.
We all have opinions. As some people gamble to average down, I hold and fight for the way things should be done. While some people risk the farm on sirius in this price controled market and belive the propiganta teaching of Sirius goons, I hold and wait for GS to convert its bonds.
When Mels plan with GS is played out, GS will have own the load. GS will start marketing Sirius and we shall all be in the money.
All we need do is prevent them from doing the Rev Split to kick us loyal stock holders out of the picture.
Please vote no to the Rev Split
Durring the day, the investers are screeming Vote No. But all night the propigana runs like it comes from the mouth of Mel himself.
LOL
Vote no to the Rev Split
Let me ask you,
Do you think their focus is on the present at all??
Meaning, will this Q3 report have any attempt to "wow" anyone or will they save any bullets they have and continue the vanilla company line??
Then slowly continue to eliminate the FEB debt the way they are, then "WOW" everyone in FEB with a great Q4, B of B numbers, pay GS in cash and so on,,,
I'm looking for a re-entry point and trying to decide if I should do it before or after the Q3.....
Do you have a re-entry plan??
Yea, I fought and held for the way things should be done too and lost my ass.......enough of that........
you're speaking out of both sides of your mouth,,,
You WANT Mel to carry out his plan so GS gets the shares & changes their position and pumps SIRI, but you also want to FIGHT Mel on the rev split & dilution????
How does Mel execute the plan you want if you're fighting him????
AND, if GS is in control of the end game,,,,then it's already decided and your vote won't matter anyway............
ALSO,,,,What difference does a rev split make???? your value will be the same,,,the market cap will be the same,,,,
AND IF GS IS PUMPING THE STOCK.........IT WON"T GET SHORTED OR GO DOWN????????????/
The 3 Q report will be a low ball. Fear terror and hell fire to scare investors to vote for more shares and the rev-split. Mel wants this stock low. They are buying it up and soaking it in and on the cheap.
I have seem it all done before. Mel has done it before. Your just playing his game. Hell, Bush did much the same to start a war to get more oil. Now we pay hi price for gas but Exon reported today "more profit than any ever in history".
Investment Analyst are not trained to examine treachery. That tells you why we can't predict the trends in Sirius.
Please vote no Rev Split
If you cant see your statment here:
"ALSO,,,,What difference does a rev split make???? your value will be the same,,,the market cap will be the same,,,, "
-will lock 2.00 share holders into a none recovery possition of 75.00 per share...
You already knwo you can't stop the delution. Mel gave that away the day of the merger.
SD, you and I have no thing to debate...
Please vote No to the Rev Splt
By the beginning of 1923, the price of a loaf of bread went to 700 Marks and by the end of that same year went to 1 Billion Marks (Yes 1 Billion).
In November 1923, the German Government introduced a new currency, the Rentenmark, which was backed by government owned property; 1 Trillion old Marks (Yes, 1 Trillion) equaled 1 new Rentenmark.
you can look it up . . . .
LOL we are in truble.. Big time!
I think the company needs to explain the uniqueness of Q3 in it conference call. They need to reiterate their operating separately, combined, implementing payroll and programming synergies, resulting a difficult staff reduction process, positioning programming to support Best of Both, and the launch of new radios /products for the Holiday Season. This, whether we like it or not, needs to represent closure of the merger process. Deliver one time expenses, from merger costs to payroll reduction expenses.
I really believe investors and analysts are the only ones who have put the third quarter behind them. The SP has and is waiting for guidance. The Proxy Statement is now 2 weeks from issuance and no word. We all have ideas but we are waiting for the company to provide insight.....
We should not look for any positive surprises in Q3 reporting....... Positive net subscriber growth and consistent churn, with 1 month of payroll expense reductions should have a positive effect on free cash flow, after the one time charges. A glimmer of what's to come, but with 1 month of frozen car sales, September, there isn't going to be an upside surprise. Survival for all companies through this last and Q4 coming up will be a great thing. Ask the banks?
The good news is Sirius Xm is not a bank, but a revenue generating company with a whole new playing field, in the worst time in history. If they post positive subscriber growth and can report progress on paying of debt with COH and the selling of shares, shareholders need to support this management team to profitability. It would be the comeback story of the new century, second only to my Boston Red Sox stealing the series away from the New York Yankees.
Market direction won't effect Sirius until some clouds are removed by Mel. Just a fact not a prediction...... I like that they are paying down equity holders in the Feb converts and those holders are taking the shares.... this is important to show some support for the company's business plan....
Don't be rubbing the dog too often..... for luck or otherwise..... you'll spoil him and take away his "killer" instincts......LOL
Why do they need to raise $1 billion?
The $270 mil of Feb debt is and will continue to be worked out and more dilution should be expected.
The May bank debt can be extended.
December is a long way off and could take care of itself if things go well.......
You're afraid of 8 billion shares, I was too,,,,,,,but then I realized that the request for 8 billion is insurance for the worst case scenario.....It's incase the economy goes into a complete nose dive and SIRI sub counts are going negative every quarter. If that happens than we will be no where near positive cash flow and they'll have to pull equity just to survive.
If I really thought they were going to make all 8 billion shares outstanding than that would tell me that SIRI is not going to make it.......and I would completely pull out right now. That 8 billion shares is their absolute last bullet they have. If they go thru that they're done. SIRI has had over 1 billion shares to issue if they wanted to and they have not.
Another thing I don't understand is that you don't want to issue shares and do a rev split because you don't trust Mel & the company & GS...............Yet you want to hand them $1 billion of our cash in a personal loan????
How does that make sense??? What, because you have a loan agreement written up by a lawyer that's going to protect you???
If your fears are true, and they shouldn't be trusted, than a loan agreement won't stop them from spending our $1 billion in cash and then saying "oops, we spent the money & we're still not profitable, we're going broke, we need to dilute & rev split or go BK".
If you really believe that GS is in control, or Mel is stealing the company, or the shareholders are done, or the company isn't going to be successful,,,,,,,than what are you doing here? Voting NO isn't going to stop any of those scenarios.
Look, sure46 & Mark, I'm not a lawyer nor am I an expert in all this, but I'm definately on the same side of this mess as you are and I'm looking for the same result.
I think it's a good thing that we're exploring different sides of this, the more knowledge and perspective = the more power.
I don't want to fill the board debating with you either Mark, but my eyes are open to what everyone has to say so I can make the best decission I can.
You can't make objective decissions when you've already made up your mind and refuse to consider the constantly changing dynamics of what's going on here.
you refrenced me, I said::
"ALSO,,,,What difference does a rev split make???? your value will be the same,,,the market cap will be the same,,,, "
THEN YOU SAID::
-will lock 2.00 share holders into a none recovery possition of 75.00 per share...
You already knwo you can't stop the delution. Mel gave that away the day of the merger.
YOUR COMPLETELY WRONG,
The amount of DILUTION will hurt your value,
A rev split will not!!!!! Let's say they issued 8 billion shares and did NOT do a rev split......... Do you really think you have a chance to see $2.00????? NO WAY! That would give SIRI a $16 billion market cap. MAYBE in 5 years.
The exact same odds of doing a 30 to 1 split and and seeing the sp go to $60......
The difference is 8 bil shares vs. 266 mil shares......
You don't think there's more room for deception with 8 bil shares out there?
I love the product and want the comapny to make it past all these problems. But, not at the cost of my entire investment or any other stock holder!
Love your brother. Love yourself! Vote no to the Rev Split.
What are you rambling about? R U drunk? I never said anything about voting for more shares. I just got tired of my 3 lines of typing that until todays was like this:
VOTE NO REV SPLIT
VOTE NO MORE SHARE
KICK MEL OUT!!!
Delution of the bonds is somthing we can not controle as long as Mel has shares to issue. He will issue and give GS and others everything he can before the split. They wil be rich and the loyal invester will be worth 1.98...
SD man I am tired of the debate... I am going drink a coke... I own the stock...
And you asked if I was drunk.........
Enjoy your Coke and have a smile too..........
I own currently 33,000.00 shares Im out about 70k. If a rev split happens what would the price per share have to go to in order for me to break even?
Thanks
Oh my, your almost as deep as me. I think we will be looking at 30x rev splt, puts us at 70 to 75.00 a share. If the rev split happens, we are screwed.
Try to vote the rev split down. But keep some hope even if we lose. Mel knows how bad a rev split looks for a company. He also knows very well how we feel, or he will on Dec 18th. Lets hope he uses it only as a very last resort to stay listed on the NASDQ. Lets hope!
Love your brother. Love yourself. Vote no rev splt.
..
What ever Mel does about the debt, it will not be liked. But, if GS owns shares and not bonds than GS will stop shorting and that is good.
Lame view on share value
Before merger trades XM 12. and Siri 4.00 a share. Avg that to 8.00 and divide that by the full dilution of half and we are back at 4.00 a share. Now take a buck for bad news and flames and we should be at 3 per share. So, if Mel pays all the debt with shares and no rev split we could be trading 3.00 a share based on before merger numbers alone.
And friend, if Sirius gets to 2.55 at anytime before the rev-split, I am out and never will return or look back. This stock has more drama and problems than any in my 22 years in the market...
Love your brother. Love yourself. Vote no rev split.
Recently I moved my accounts to a larger bank for protection. I opened two investment accounts. One for self managed online trading and one account for preferred managed investments. When I transferred Sirius shares to the new bank, they went into the wrong account, the managed account. On Monday, I tried to transfer them properly to online trading and was told that would be delayed 30 days. The complaint was elevated.
Finally, I was told why the delay to transfer. The bank managed the shares. The bank managed to loan out the shares for shorting and never informed me or offered me a cut of that deal. I had my lawyer call them and the transfer of all shares was done Thursday. I also closed the managed account.
So, if any of you are holding shares in some managed account please make sure they are not using your share to short your investment. What a mess…
Yes, it was Bank of America.
Love your brother. Love yourself. Vote no rev split.
Good question. I also would like to know how stock issue and rev split effect short trades.
Don't worry about rev-split by Jan 09. IMO, Rev-split is more into the future after delutions or delayed 6 more months when MEl will justify rev-split to stay listed on NASDq.
Please vote no Rev-split
VOTE NO REV SPLIT
VOTE NO MORE SHARE
KICK MEL OUT!!!
Mel's job is to enhance shareholder value, not steal the company them/us. The quote Mel made to the WSJ should be enough to call an emergency board meeting as this CEO doesn't have his shareholders best interest in mind which is a direct breach of fiduciary duties to them/us.Time for letters to the board. The more I think about this quote he made the more pissed I become. From his biggest fan to his worst nightmare. F--- us Mr. Karmazin I think not! Let's all get busy and make Formal Demand on the Board of Directors. Then they will be next!
VOTE NO REV SPLIT
VOTE NO MORE SHARE
KICK MEL OUT!!!
Because PAYING OFF DEBT , is better than , EXTENDING DEBT .....DUH
And it is not just debt .......operations have to be funded until Siri truly turns profitable ..............and elimination of debt interest MIGHT just do the trick on it's own , and therefore 1B MAY NOT be needed
I simply used 1B as a possible amount of revenue that COULD be raised
I am not opposed to R-S , and issuance of more shares , if that's what it takes to avoid BK , and R-S on it's own is NOT BAD ( BUT , 9 times out of 10 after R-S , SP goes down more ) SO IT AIN'T GOOD EITHER
And all this extension of debt just prolongs the inevitable , IF Siri does not get to profit .....REAL PROFIT , not EBITDA and all that crap number fidgiting
Bottom line , anyone near 1.50 or less is probably OK in 2-3 years in the proxy scenario ...........The rest of us are thinking outside the box because we have to ..........and part of that thinking is to try to average down , and the other part is to figure out ways for Siri to survive without R-S , and / or Dilution .........Because getting back to say 4.00 - 5.00 without the BS , is the Holy Grail ...............after ANY R-S , and Dilution , it gets harder and harder to get back up to where we need to be ....
But I am not going to vote NO , because it may the only option Siri has ............and besides , I am sure all the NO votes will find their way into the shredder anyway ............The proxy is guaranteed to pass if that's what the board wants
If by some strange alternate universe scenario , the NO votes outnumber the YES votes ..............Siri will have a " NO vote shredding party " , until that changes ..............What ??? You actually think your vote counts ?????? ( I use "shredding" as a metaphor for all the loopholes government and businesses use to get what they want )
Vote NO REV-SPLIT or he will have us shorted again!
Vote NO MORE SHARES or he will delute to the value of toilet water!
KICK MEL OUT!!!
Vote NO REV-SPLIT or he will have us shorted again!
Vote NO MORE SHARES or he will delute to the value of toilet water!
KICK MEL OUT!!!
Mel said he still can't figure it out. But maybe its the GoodWill.
COOKing the BOOKS to get EBITHA? How do you waist 4 Billion and still show les neg EBITHA? You cook the books!
Wow can this Crook Cook!!!
Vote no Rev Split
Mel said he still can't figure it out. But maybe its the GoodWill.
COOKing the BOOKS to get EBITHA? How do you waist 4 Billion and still show les neg EBITHA? You cook the books!
Wow can this Crook Cook!!!
Vote no Rev Split
Mel called the lost $4 Billion "GoodWill"!
Value of XM 18 month before the Merger vs Huge debt the day of the Merger?
A good man would have said no merger. HE could have backed out without any cost! But no, he wanted to controle all Sat Bandwith and also take the company private.
Mel we see what your about now. We were all dooped! Your a nasy stinking CROOK!
Vote NO REV-SPLIT or he will have us shorted again!
Vote NO MORE SHARES or he will delute to the value of toilet water!
KICK MEL OUT!!!
Buffer? Mel said more share are needed for a buffer? Stock holders need some buffer in our bank accounts before we are going to give that crook any buffer!
Vote NO REV-SPLIT or he will have us shorted again!
Vote NO MORE SHARES or he will delute to the value of toilet water!
KICK MEL OUT!!!
analysts
analysts
analysts said " pay its debt, and the moves it is planning "
The plan is to rip the stock holder off BIG TIME!!!
MEL IS A CROOK!
Vote NO REV-SPLIT or he will have us shorted again!
Vote NO MORE SHARES or he will delute to the value of toilet water!
KICK MEL OUT!!!