Sherwyn

'Save Sirius' May Be Going Too Far

Tyler,

I agree with your comment: "Wanting to stop a reverse split and the addition of new shares to the authorized count is one thing. Unwinding the merger, and sending people to jail is quite another." That is where I couldn't agree with the M.H. lawsuit and opted to drop out. I didn't like a lot of the activities of the company prior to the merger (like the last minute financing that has torpoedoed the stock). And I am opposed to the reverse split and issuance of new stock, but I certainly don't think that it would be wise to unwind the company at this point. We can't go back and redo that decision without irreparable harm to the company.

As to Mel's actions in all of this, I don't trust him anymore. He says he is not going to use the RS/issuance of new stock unless he has to. I would like to believe that, but I don't. He burned us (shareholders) on the last minute financing. He had to know what the debt load of XM was. He had plenty of time to make other arrangements (thanks to the FCC). As a result, he has lost his credibility with me and I am sure with many in the investment community.