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SCO Caps Legal Expenses At $31 Million
uniqueCondition points to a story on News.com, writing "With SCO's legal costs reaching $7.3 million in their most recent quarter, nearly half of the $15 million it has spent in the last five quarters, SCO can't afford this kind of litigation. They have therefore limited their payment to $31 million for the entire case and is giving their legal team a larger slice of any settlement SCO achieves. Under the current agreement, the firm's contingency payment is 20 percent of a settlement. Under the new agreement, that increases to a range of 20 to 33 percent." uniqueCondition links also to coverage at Techrepublic.com, InformationWeek and The Inquirer.
That's from the previously announced licenses sold to EV1. They said at the time the money would show up in this quarter's earnings.
It's a combination of EV1 revenue being booked and the fact that they now count "Unix licenses" in the deal since they give out a "Linux license" with every Unix purchase.
SCO Halted.
Please reboot underhanded business practices, or better yet, install Linux.
I don't know the meaning of the word 'don't' - J
.. almost 18 hours ago. See this page.
Just so it's clear, the $31M cap does not include payments that have already been made; the "total" in "total legal costs" refers to the fact that the cap would apply to all the firms representing SCO, not just Boies, Schiller and Flexner.
This is all made a bit more complicated by the facts that SCO currently owes something like $8M in unpaid bills for legal services already rendered--which apparently is covered by the cap; that the detailed terms of the deal haven't been released yet; and that in fact the details haven't been agreed upon yet (so far there's only a signed letter of intent). But the bottom line, confirmed at yesterday's conference call, is that SCO currently has ~$43M of cash on its balance sheet, and that assuming their future legal expenses hit the cap, they have ~$12M left to run the rest of their business--roughly 4 months of operating expenses at last quarter's burn rate.
In other words, barring some last minute capital infusion, SCO will run out of cash well before they hit the spending cap--unless, of course, they plan on dropping the pretense of running a business outside of their lawsuits.
Actually, I don't begrudge the athletes their money. It was simply a poor attempt at being funny. BTW, in case you're interested, the average U.S. baseball player's salary is ~$3,000,000 US. That's why the talks of salary capping started.
Javascript + Nintendo DSi = DSiCade
It looks like they are planning to go on the road to spread their FUD:
http://www.sco.com/partners/city_to_city/2004/
It might be a good idea to organize groups of people to show up and voice some opposition. Handing out free GNU/Linux distros would be fun too!
But Canopy Grp is also a 'previous' creditor, so they are in line first.
Besides, SCO is just another front for Canopy. Canopy (its leadership and backers) are the real target.
"You know Joseph Smith was a profit."
And imagine what $800 billions dollars each year could have done had they given it to various peace and development projects. Money in this world could really be put to better use.
(And please consider that I know this sound like a trolling bait but please please:
- consider that my comment is related to the parent comment.
- I wasn't insulting someone or anything.
- Just thinking outside of the box, we are here to have a discussion after all. I am not affiliated in anyway with that website I just found it googling)
Yahh, hiii haaaaa! -Major Kong, from Dr. Strangelove
INFORMATIVE?!
Darl isn't the only one on crack...
Actually that is what happens. Sometimes our admins decide to block slashdot, so I have to use a proxy. When I do, I can't post annon. It tells me i'm a problem user.