siriusly depressed

Clarifying Sirius XM Reverse Split Issue

Cos,

Without knowing the details, you pretty much answered my question.

So the best thing would be, as you said, restructuring of the bad debt, this years and 2013, to eliminate the short shares.

The bad thing would be just paying the Feb debt (or all of 09' debt for that matter) because the 2013 bonds are still there with shares lent for shorting.

So, I can now understand how the sp is where it is.......................

All of the positive news, like sub numbers, revenue, synergies, auto's are all great. But even if they ALL came in better than expected for SIRI, they could still be in trouble due to the debt....... 1st because we're really talking about over $3 billion and not $1 billion, and more importantly, 2nd because of how that debt is structured.....Insane interest rate payments, lent shares for shorting,,,,,,,,,all of the debt is structured so that the holders are rooting for the company to fail. They've already made their money back on the shorted shorted shares, now it's a gamble to see if they can take the company down and own it for themselves. Our arguement is how great this company is, how could the sp be so low??? EXACTLY, that's why they're trying so hard to kill it, because they know how great it is too and they want it......

Especially in this credit market and economy,,,,It's like their hunting a blind deer with 3 legs.....................

The amount of dilution and rs are the least of our worries. If the bonds that have shares to short are still there after, we're done....

I hope Mel is working on the 1 in a million shot at restructuring all the debt as you said Cos. If not, we're in trouble. I believe he is. I now see the monumental task in front of him. I also see how HUGE of an achievment this would be for him..........Just enough of a challenge to pump his ego and put an exclamation point on his career......

One more clarification Cos,

I was under the impression that once the shorted shares were sold to cover that they were dead and couldn't be used??? Is that true?

Also, I thought that the holders of those short shares had to go long with them when they were done????