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Old 08-05-2005, 05:24 PM   #16
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Default Re: $500 Million Shelf Registration

Quote:
Originally Posted by FrontMed
So, now that Sirius has borrowed a half billion, they file a shelf registration for ANOTHER half billion?

http://www.shareholder.com/sirius/Ed...3079&SID=05-00

If this doesn't have Sirius shareholders shaking in their boots there are no limits. They can issue shares as fast as they can print them and nobody will notice.
What about the limits on XMSR shareholders?

$500,000,000

XM SATELLITE RADIO HOLDINGS INC.

Common Stock
Debt Securities
Depositary Shares
Preferred Stock
Rights
Warrants


XM's Friday After Hours S-3 Filing
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Old 08-05-2005, 05:33 PM   #17
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Quote:
What about the limits on XMSR shareholders?
XM doesn't have a history of abusing its shareholders. XM, when it completed its refinancing, had a fully diluted sharecount of 308 mln. Today, it is under 350 -- and they've bought new satellites and acquired 10MHz of spectrum, bought an interest in Worldspace, bought Effanel, put money into Network Live, and grown subscribers exponentially for two years.

Sirius diluted its shareholders to 8% of their pre-refinancing equity and promised that this would get Sirius to CFBE debt-free. Today, they have diluted to half that (if you bought shares before the refinancing, you now have 4% of the interest in Sirius you had beforehand). And they have run up the debt to the level it was BEFORE the refinancing. And CFBE is still NOWHERE IN SIGHT. Furthermore, they are on the hook for some 700 million in future content contract payments and SACs continue to be out of control.

It isn't quite the same thing.

(BTW -- I believe it is prudent for both companies to have shelf registrations on file).
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Old 08-05-2005, 05:55 PM   #18
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Quote:
Originally Posted by FrontMed
And CFBE is still NOWHERE IN SIGHT.
I think I will believe Mel over you when he says CFBE in Q4 '06. You seem to have other motives when you say things like, "I *DO*, however, want to see XM destroy Sirius ("kick SIRI's teeth in"). " and "This is about me wanting to see XM crunch its boot heels into Sirius' teeth."

I have the links for anyone that doubts these Frontmed quotes. Just PM me.

My last response to you, you offer nothing to this forum or community.
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Old 08-05-2005, 06:38 PM   #19
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I think I will believe Mel over you when he says CFBE in Q4 '06.
You also believed Mel over me when he said, a few weeks ago, "We're fully funded to CFBE". Now, you're half a billion deeper in debt.

Remember?
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Old 08-05-2005, 06:42 PM   #20
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According to James Dix of Deutsche Bank Securities, Sirius has improved its risk profile:

Sirius Satellite "hold," target price raised

Thursday, August 04, 2005 3:43:56 AM ET
Deutsche Securities

"NEW YORK, August 4 (newratings.com) - Analyst James Dix of Deutsche Bank Securities maintains his "hold" rating on Sirius Satellite Radio (SIRI.NAS). The target price has been raised from $6.50 to $7.

In a research note published yesterday, the analyst mentions that the completion of a $500 million debt offering has improved the company’s risk profile. Sirius Satellite Radio has raised its subscriber guidance for end-2005 from 2.7 million to 3.0 million."

http://www.newratings.com/analyst_ne...le_952905.html
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Old 08-05-2005, 08:44 PM   #21
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Quote:
Originally Posted by Sirius_Rich
I think I will believe Mel over you when he says CFBE in Q4 '06. You seem to have other motives when you say things like, "I *DO*, however, want to see XM destroy Sirius ("kick SIRI's teeth in"). " and "This is about me wanting to see XM crunch its boot heels into Sirius' teeth."
I remember those quotes. Kinda reminds me of the one where he said to doberman something like he didn't have a ton of IDs to various forums to spread his anti-Sirius mantra.

I believe Mel K because he has made a fair deal of money, so obviously he's doing something right (or I assume he'd be locked up). Frontmed on the other hand has definitely not made Mel K kinda money, and he has an agenda to push.

--Droo, @Network
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Old 08-05-2005, 09:07 PM   #22
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I can understand someone selecting one service over the other for entertainment or finacial reasons. Yet, I do not understand the intense "hate" one has for Sirius. It isnt run the way you like, it doesnt live up to your expectations, fine, so be it. But why the constant "conversion" posts about it? The relentless thoughts of your debates gets old. We know where you stand, are you perhaps trying to convince every subscriber and investor of your views? If I hated something so much, I would make my point and go...., let others take into consideration what has been presented and make up their own minds. Then, leave well enough alone. The knife can only go so far....or do you find pleasure in additional twists? Could be a sign of some deep rooted major problems there!
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Old 08-05-2005, 09:12 PM   #23
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AZJoe1 -

I've never understood it either. But people do the Chevy vs Ford thing too. Then again though, those people are tame compared to some of the XM vs Sirius going on.

--Droo, @Network
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