cos1000

When Should Sirius XM Implement a Reverse Split?

"Okay I may have offended you but I still believe there will too much other bad news (twisted news) during that time which may cool the iron even though the sword may be sharper."

Pell..... Not at all offended at all.... just not buying all the "cliches" and "metaphors"..... Between Irons being Hot, Twisted News, and Sharper Swords, I have not lost sight of the original debate.... I have given specific reasons why not to do a r/s, and when I think one would be appropriate to.... not offended or emotional about the discussion just do not agree with you.. or Brandon's take for that matter...


"1more4me".....
Check the 8K filing, April 29th... Yahoo, Edgar Online, SIRI. This filing and the R/S Authority was put into place to protect as a "poison pill" to prevent any change in Control or Ownership without the Authority of SXM's Board of Directors.

Item 1.01. Entry into a Material Definitive Agreement.
"On April 28, 2009, our Board of Directors (the “Board”) adopted a rights plan to protect against limitations on our ability to use our net operating loss carryforwards and certain other tax benefits (the “NOLs”) to reduce potential future federal income tax obligations. "

"The Rights Plan is intended to act as a deterrent to any person or group (an “Acquiring Person”) acquiring 4.9% or more of our outstanding common stock (assuming for purposes of this calculation that all of our outstanding convertible preferred stock is converted into common stock) without the approval of our Board."