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SCO posts Q2 Loss, Gets $11k from Linux
Paul Hands sent us linkage to SCOs Q2 Financials. "The highlights are that SCOX only collected $11k (yes, K) for that much-discussed license for EV1 and other Licensees. Cost of that $11k was well over $4M.
Overall, revenue was just over $10M, and they made a net loss applicable to common stockholders of $14,959,000, or $1.06 per diluted common share." Update According to the SCO conference call, this isn't accurate.. their Linux extortion income will be listed in the Q3 financials.
"Expenses associated with our SCOsource division are anticipated to continue at approximately the current level as we continue to protect our UNIX intellectual property and aggressively pursue our legal claims through the court system."
Ohhhh boy. Better get comfortable people, there's going to be yet more SCO stories for a while.
Stuff.
Link to the realease on the SCO's site
Read more
WSJ says they have $48M.
During the conference call earlier in the day, SCO stated that the EV1 revenue was not included in this quarter, and will start showing up in Q3.
How handy that he has a toll free number!
It's not wasting time, I'm educating myself.
For example, I have some company that has the potential to make sick amounts of money I just don't have the capital to make that happen. So you invest money, then more money till your out. You don't want to loose your investment so you get some other people to take a financial interest in your financial interest.
I once worked for a Machine Shop, the owner was the world's WORST business man but people kept giving him money. I guess once you've kicked in 1 million dollars you don't want to loose it so you kick in more, and get others to kick in more. You just hope that some day it pays off. (ahem- suckers)Lucky for me I was just an employee, not the terrible owner or the sucker investors.
I boycott signatures
Won't be necessary. SCO is a corporation, which means its officers are protected from legal action stemming from the behavior of the company..
IANAL.
tasks(723) drafts(105) languages(484) examples(29106)
Your sense of humor escapes you.
Ok here is the Bittorrent of the SCO Conference Call today in mp3 format.
http://sco.penguinman.comWhat you mean to say is, you have Google:
Results for the 1 Darl McBride in Utah:
You are joking, but you're not far from the truth: quoting a Washington Post article Showdown with the Linux gang (use foobarian@foo.com/foobar to log in):
"We went out one day and our Unix cows were missing," McBride said he told his father in trying to explain the case to him. "We looked in the Linux pen, and there's a bunch of them in there that have our brand on them . . . in this case the copyright. Someone took our cows and we want 'em back -- it's as simple as that."
Yeehaw!
Tsunami -- You can't bring a good wave down!
The execs are still responsible to their shareholders. The safe harbor provisions of securities law don't cover fraud. Darl and Co should buy mansions in Florida whicb has solid domicile protection in bankruptcy proceedings (you almost always keep the house regardless of cost). Which is why so many Tyco and Enron execs bought $10 million and up homes there just before the final hammer fell. Also, other debtors can attempt to go after corporate equity holders in cases of criminal circumstances, and depending on the laws in the state in which SCO is incorporated.
Degaussing scares the bad magnetism out of the monitor and fills it with good karma.
sco.penguinman.com
To find the $11K number, you have to dig down into the numbers below. Lining things up on Slashdot is very difficult, so I'll just paste the relevant line:
That's telling you they made $11k in the prior three months, and $31K in the prior six months, as compared to $8250 last year. In 2003, it would appear, they made all their money in Q2, 8.25 million.This brings a whole new light to the scale of EV1Servers.net ..
No, since EV1 isn't included in these numbers, it doesn't bring a new light -- except as mentioned in the tele-conference; the EV1 deal is less than $250,000.
" it turns out that EVERY SINGLE company listed on NASDAQ is traded on the 'unofficial regulated market' at Berlin-Bremen.
Note that Darl, during the call, said that these were "unregulated" markets, which is clearly not the case."
"About Berlin-Bremen Stock Exchange: Like all other German exchanges the Berlin-Bremen Stock Exchange is separated in three market segments: Official Market; Regulated Market and Unofficial Regulated Market. Special significance is attributed to the Unofficial Regulated Market at the Berlin-Bremen Stock Exchange. With more than 8,000 national and international companies admitted the Unofficial Regulated Market unparalleled -- both in terms of size and diversity. .. All companies listed on the NASDAQ, NYSE, and several OTCBB companies are listed on the Unofficial Regulated Market of the Berlin-Bremen Stock Exchange, giving investors the largest choice of American stocks in Europe."
Help fight continental drift.
You're looking on the wrong exchange. SCOX is listed on NASDAQ, not NYSE.
The only reason we have the rights we have is that people just like us died to gain those rights. -- Cheerio Boy
Looks better in a graph. :)
I am a speak english. Do you not? - Saroto
Just to clarify. Goodwill in this case is an accounting concept referring to accounting treatments of premium paid in a merger. Until fairly recently Goodwill used to be amortized (i.e. company would write it off over time). Under new rules, it's carried indefinitely and assessed for impariment. According to SCO's March '04 10-Q, most of their goodwill comes from acquisition of Vultus, Inc. Not very much related to the loss of face in the Linux debucle.
i dunno, haven't played either. i just spout shit anonymously on slashdot and see if it gets moderated up for fun. sometimes it works! not really a troll mind you, just can't be bothered to create an account and get wrapped up in it all.
Naked short selling involves groups of people working together to manipulate the market by selling fictitious shares of stock in an effort to force a company's share price to go down. Not that I care.
As far as I can tell, naked short selling just means that you make a short sale but don't have the securities to back it up.
Market manipulation means that you deliberately try to affect the value of a price through your actions. Even if they are harmful to SCO's stock, I don't see why naked short sales of SCO necessarily represent an attempt to manipulate the market. In the case of SCO, it may just mean that people believe they know that it will go down further because of SCO's business practices (I sure am) and want to profit from their knowledge, but that they can't make a short sale any other way.
Goodwill is a term of art in accounting. There's a brief summary on Wikipedia. Essentially, "goodwill" is the magic dark matter of accounting that is used to explain whither otherwise inexplicable money goes and whence it comes. For instance, say one of your company's buildings appraised for $1 million but somebody else bought it for $2 million. That goes down as $1 million of "goodwill" so that the numbers balance out. Conversely, if someone else's building appraised for $2 million but he sold it to you for $1 million, that's another example of $1 million of goodwill on your books.
Hint relevant to this situation: it applies to securities as well.
All's true that is mistrusted
http://biz.yahoo.com/fool/040610/1086881820_2.html
A very entertaining read.
Slashdot's rate-of-post filter: Preventing you from posting too many great ideas at once.
Shares Outstanding: 14.42M
Float: 7.80M
Shares Short (as of 10-May-04): 4.62M
Short % of Float (as of 10-May-04): 59.27%
Shares Short (prior month): 3.95M
Bwa hah hah! What a ridiculously mismanaged company.
"Stop living in the Slashdot bubble - most people don't know that NetWare is a derivative of Unix, and even more people don't know what NetWare *is*."
Um, dude, NetWare is definately not a UNIX derivative. (Though at one time, you could run NetWare under UNIX. Remember UNIXWare?) They did steal a lot of low-end business from UNIX vendors, especially at the low-end. My comment was meant as a joke. (Who'da thunk it would be modded "Informative"?)
People are making money with free software, get over it. Investors are all doing as well or better than greedheads who have lost half of their money listenting to the greedheads at Microsoft. Anyone who put money into the SCO extortion plan deserves to lose every penny and will.
Friends don't help friends install M$ junk.
This sure smells like the minority owners (Canopy) are bleeding cash out of a publicly-traded company (SCO) by selling it a loser.
Canopy has done stuff like this before. When one of their companies goes bankrupt, they (Canopy) wind up with the assets that matter, whether or not the company was publicly traded. They do this by making sure that the company that is going under owes Canopy money, so that Canopy is a creditor at bankruptcy time.
In other words:
1. Create a private company (company A).
2. Take company A public. Company A now has lots of money.
3. Create another private company (company B).
4. Sell company B to company A.
5. Profit!
But wait, there's more...
6. Make sure company A owes you money.
7. Let company A go bankrupt.
8. Using the assets that you get back from the bankruptcy, go to step 1!
So far, he has had one profitable quarter in a row.
Last year.
When SUN/Microsft bought "licenses".
Bad Darl! No bonus!
Acts of massive stupidity are almost never covered by warranty. --me.
http://uk.finance.yahoo.com/q?s=SCOX&d=c&k=c1&c=IB M&a=v&p=s&t=1y&l=off&z=m&q =l
Right now it shows they've lost about 50% of their value relative to IBM over the last year. It also shows how volatile the SCO price is relative to IBM's stability. Since the lawsuit started more than a year ago, the one-year view doesn't really capture the entire story, and on the two-year view (one click away) you can see that SCO still has to fall some more to get all the way back to where they were before they started this circus. But only a little more. They're almost there.
Current price is $4.89, but I think they may get into the three dollar range next week.
A lot of this discussion involved the value of goodwill, but SCO should be more concerned about the Goodwill store. They'll need to buy "new" shirts after losing the ones they have now.
Freedom = (Meaningful - Coerced) Choice != (Speech | Beer^2), and sad sock puppets' bad mods avail them naught.