cos1000

What Will Sirius' Q3 Look Like?

s162...

In reading the results on Market Watch, well down the page, there is a paragraph stating the...

........ although we are in discussions with several financial institutions regarding a possible financing to replace its 2-1/2% Convertible Notes, as agreement for such financing may not be achieved or if achieved may not be achieved on favorable terms....

This is separated from the initial announcement, stating that they are in discussions with financial institutions regarding this debt. I think most investors want to hear exactly how this debt will be financed, not that they are still having discussions. The discussion that investors need to hear is How? and When? and at What Cost?

Aside from that, I think the third quarter numbers will be negative, which is not a surprise. The sub numbers are going to be the bigger problem. The company was at a little over 18.1M and Mel was using 18.5 M for end of the year at the time of the merger, which everyone saw as low balling. Adding 600M subs in six months to get to 19.1M is not going to thrill anyone to the up side, but at least it shows them growing in a horrific environment.

I think the pre market is just excitement with the gross numbers. 19.1 M shows growth but nothing firmly announced on the Feb debt will be a problem once everyone realizes that they are not reporting what they want to hear. DEBT Refinanced or taken out and here is how.