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Karmazin Video Provides Some Sirius Answers

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I can agree with preferring to see the company recover without a reverse split, at least to the 2.5 - 3.0 range, but I don't think in this market and with debt financing in 2009 being what it is your going to see that.

I don't necessarily agree that with a reverse split is an opportunity for the shorts, in this company's case, to take the price down after the split. There has been a lot of share dilution already with a large retail shareholder float out their, and debt issues that can be used by analysts, like GS, to obliterate the stock.

With a reverse split, debt elimination using the new shares at a new SP to pay that debt, reduced operating costs now enhanced by eliminating debt payments on 1.2B in debt, and increasing subscriber and revenue growth, this is not a company that shorts are going to call their favorite any more.

Companies that are losing market share and are looking to take on additional debt, which Sirius is not doing, are the companies that after a reverse split the shorts have another feeding frenzy. Sirius is not looking to take on $1 of New Debt. They are going to pay off or reduce current Convertible Bond debt, which also removes dilution because shares return to the company, and move out Bank Credit facility debt that they are current on. No New Debt.