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BayStar Cashes Out of SCO Stock
Kurt Wall writes "According to Yahoo! Finance, BayStar, the company that funded SCO to the tune of $50,000,000, and then later changed the terms of the deal, has requested that SCO redeem the 20,000 shares of preferred stock issued in return for the funding. The reason? BayStar states that 'SCO has allegedly breached Sections 2(b)(v), 2(b)(viii) and 3(g) of the Exchange Agreement.' Naturally, SCO thinks it has done nothing of the sort."
Woo, SCO's stock is down 10.56% already. What a great time for a shrewd investor to buy SCO stock at bargain prices!
I'm weeping on the inside.
I have a "Zero Policy" tolerance.
*/
Always the first to leave a sinking ship
more about me
Well I've at least heard of SCO, so their statement carries more weight with me.
Phase 1. We know SCO's business plan is flawed.
Phase 2. The Stockmarket knows that SCO's business plan is flawed. The share price is jumping about because people just like to speculate in the short term.
Phase 3. And Now baystar knows SCO's business plan is flawed (and finds a technicality to get their shares back)
Phase 4. ??? [The obligatory gnome-esc gap in the logic]
Phase 5. Profit? haha.. not this time. Go Directly into Administration. Do not pass go. Do not collect 200. Darl can look forward to having tux inserted, lovingly, into his anus by his boyfriend in prison :D
Simon.
Pray I don't alter it any further.
sulli
RTFJ.
That they would be suing BayStar for the sum of $50,000,000 for their decision to cease funding their lawsuits.
Gosh, making accusations, and not providing any specifics! That's horrible!!!!! I'm sure SCO is outraged.
Mike
From SCO's Press release
"BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement. SCO is attempting to obtain specific information from BayStar"
SCO now stands for "Shit! Cash Out!!"
"Oh my God! The quarterback is toast!"
Do we want every post to have a advertisement in the .sig? I personally think that moderators should mod down any post with SPAM at the end.
Visit my website!
Seriously, when the fuck did SCO hire the Iraqi Information Minister?
That screaming sound you hear is SCOX stock breaking the sound barrier as it plunges into the abyss. Thank god, it is about time.
I Am My Own Worst Enemy
wtf is Que ?
The soundtrack for the SCO saga just cross-faded to a distant drumbeat, getting...slowly...louder.
If SCO flounders, what else are we going to bitch about and plot against? Also; SCOwned!
Next? They'll Sue Baystar. Then they'll sue Boies.
Then when their stock finally tanks, they'll sue their own shareholders!
In SCO's headquarters...
Darl McBride: 'Damn!... What can we do?'
Employee: 'What if we sued them?'
Darl McBride: 'Good! GREAT! Let's sue them. But, er... what for?'
Employee: 'Hmmm...'
Darl McBride: 'Let's say, that, erm... BayStar runs FreeBSD! Let's say FreeBSD contains our IP.'
Employee: 'You have not lost your genius, Mister McBride! JOHN! Get a few lines from the BSD source code, will ya? Any lines will do.'
To help out, I've summarized sections 2(b)(v), 2(b)(viii) and 3(g) of the Exchange Agreement:
2(b)(v) : Presumption of Correctness
2(b)(viii) : Failure to Pass the "Laugh Test" Clause
3(g) : General Asshattery Clause
BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement
Talk about being hoist on your own petard! Hah! Show the infringing lines of the agreement, 'kay?
You're not Anonymous Coward. I AM!
Hey, an excuse to drink, is an excuse to drink! I'm with ya man!!!
Mod +5 Drunk
Lackey: Sir, there is potential flaw in our plan, shall I have the shuttle made ready?
Darl: What in our moment of triumph?
-----
Ibm: Ok redhat, Youre all clear now blow this thing so we can all go home
(Scene of SCO imploding)
(Fat guys with beards in Star Wars t-shirts
dancing in the streets)
I would call my broker but my mom is upstairs on the phone right now.
Trolling is a art,
...It's the End of the SCO as we know it,
It's the End of the SCO as we know it,
And I feel fine!
I feel fine!
I think this is the first recorded instance of the ship leaving the sinking rats
We are altering the deal. Pray we do not alter it any further.
"'I pass the test,' she said. 'I will diminish, and go into the West, and remain Galadriel.'"
- JRR Tolkien.
somebody set up you the bomb!
:)
You are on the way to destruction. You have no chance to survive make your time.
Ancient words of mistranslated wisdom
If i had mod points, i'd make this funny
Come on we know it's coming so just have the newstory all ready to go.
."
here a fill in the blank form for it to help you along
_____ writes today SCO sued ____ for ____ and $____ in damages. SCO contends that ____ failed to _____ resulting in SCO ______. When reached for comment _________ declined to respond at this time due to pending _________ but released a press release stating "At this time _________
They could ask Bank of America for more money.
After all BoA should be grateful that SCO didn't sue them.
actually I've been watching it go from "down 11.28%" to "down 13.56%" but then back up to "down 12.84%"
Yes, it's fun to watch the insiders furiously try to pump it back up and fail.
Your honor, we were too busy with our taxes to provide the information. It's all IBM's fault.
"BayStar's letter did not provide specific information regarding SCO's alleged breaches of the Exchange Agreement. SCO is attempting to obtain specific information from BayStar and is evaluating its obligations and options with respect to the redemption notice. "
ROFLMFAO!!! Anyone notice that little bit of irony?
SCaldera's been running around saying that IBM, Novell, Redhat, Linus, your grandma, and everyone else has stolen their code and used it in Linux. MILLIONS of lines, they say.
When asked for specifics (even by the court) they refuse to grant any...
This is the first blow... Even if SCO holds off the redemtion request, they now must expend money in court to fight it. RBC might follow suit (and they should, or they are pissing away their $30 million).
Either party has an excellent chance, if they are right on their claim to have the court FREEZE those assets pending hearing.
This effectively kills SCaldera.
BayStar has made the decision to do this because they have no chance of ever getting their money back otherwise. And they are doing this knowing it destroys SCO.
This whole thing is over within 6 months now.
Corporatism != Free Market
New SCO Preferred Series B stock certificates! Step right up! Get 'em while they're hot.
New certificates being printed on convenient pre-perforated rolls of high quality two ply facial tissue.
I'll see your senator, and I'll raise you two judges.
Officer: "I saw you throw it!"
Sco: "I didn't throw nothing!"
Officer: "I suppose this key is yours though right..."
Sco: "Yeah, the key is mine, but I didn't throw no damn crack pipe, do I look like a crack head to you?"
Sco: "Don't answer that..."
If carrots got you drunk, rabbits would be fucked up. - Comedian Mitch Hedberg R.I.P. 03/30/68-2/24/05
..you'll be joining me a lot sooner than later.
Religion is for people afraid of going to hell.
No, this is the part where the guy we thought was the end boss crumples into a heap, and the victory music starts playing. But in fact, all it has done is force the real end boss to confront the player directly, which is when you really start wishing you'd saved all those powerups you used in the last fight.
You obviously need to play more video games. Everything always goes back to video games.
You want the truthiness? You can't handle the truthiness!
the preceding comment is my own and in no way reflects the opinion of the Joint Chiefs of Staff
"I don't know anything about stocks, but "down 11.28%" in a day sounds quite bad ?"
Depends on your perspective. SCO down 11.28% sounds quite good to me.
Beauty is in the eye of the beerholder.
Don't law firms use lawsuits as a business plan?
I might be wrong...
To be fair, there is also the lion school of legal practice...fierce, brave, tenacious. Unfortunately the rats, vultures and sharks tend to dominate.
Yeah, it's such a pity that the actions of 95% of lawyers make the other 5% look bad.
Those who live by the sword die by the arrow.
Never ascribe to malice that which is adequately explained by incompetence.
of burning IT companies in the morning.
Just so you all know, I get dibs on Darl's Mercedes when it goes on the RICO auction block.
Jesus, dude, not getting your own planet?
but he has naked pictures of my wife too! He's a dead man!
Quidquid latine dictum sit, altum viditur
You idiots said you had a case - give me the money back!
Nah. I work just across the parking lot from them. I haven't seen anything cool yet. I mean, besides that red guy with horns and pitchfork walking in through the front door.
Don't know what that means...
A long long time ago
Darl can still remember
When Unix(tm) used to make him smile...
And he knew that in a few weeks
That he would sue those Linux(tm) geeks
And maybe prop the stock up for a while...
But IBM just wouldn't shiver
The AIX code they wouldn't deliver
Bad news on the newsrack
BayStar wants their cash back
I don't remember getting sad
When I heard how their stock crashed so bad
But I was laughing and oh so glad
The Day The SCO Group Died...
So we were singing
Bye, bye, Mr. Darl McBride...
The only reason we have the rights we have is that people just like us died to gain those rights. -- Cheerio Boy
Will Bill G and his army of monkeys melt?
I guess this is going biblical on their asses?
Me, personally, I'd rather see someone show up with some pipe-hitting niggers to go medieval on their ass, but that's just me.
(Not racial, props to Tarintino)
Truth isn't Truth - Guliani
Because this while scheme REEKS of the kind of goofy crap that group pulls. I am sorry to have to put it in those terms, but the way this thing is going, it is almost cliche' Scientology legal bogosity.