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SCO Given NASDAQ Delisting Notice
SCO Delenda Est writes "The SEC has given SCO notice that they will be delisted from the NASDAQ if they cannot keep their share price above $1 sometime in the next 180 days. Although they may be able to avoid delisting for a while, their small market capitalization will hinder their efforts. Given their other financials, this just goes to show how desperate their current financial situation is."
Dear Darl,
We told you so.
Sincerely,
Internet full of geeks with a clue.
I am sure that even without the NASDAQ, SCO can sell stock other ways. We can perhaps expect to be getting this e-Mail many times very soon:
.50 cents. TARGET PRICE :$22.50!
Br3ak!ng NEWS! Great NEW STOCK P1CK! SCO corp is posed to go thru the roof when it wins LAWSUIT! CURR#NT PRICE:
Hopefully I didn't put any [] around my words.
Just for the fun of it. Then sack Darl of course.
That simply isn't an option. Novelle and IBM both have lots of counterclaims that will have to be dealt with, even if Caldera does drop their baseless claims. And lawyers aren't allowed to just back out of a case. Plus BS&F have already been paid to take this thing to the conclusion...
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Friends don't let friends enable ecmascript.
Since there was no link in the story, I figured it'd be prudent to provide one sowing that SCO is indeed in peril of having their stock de-listed.
As usual, PJ provides the relevant and proper info.
Soko
"Depression is merely anger without enthusiasm." - Anonymous
Wasn't the same warning given SCO several years ago...just before Microsoft and Sun bought SCO's expensive UNIX licenses for linux, bringing SCO's per share price back above the penny-stock listings?
This was just a warning, like last time, not a notice of delisting. That would come just about the time SCO v. IBM finishes.
Nothing to see here, move along.
...as discussed here two weeks ago. More details at PRNewsWire.
Pump and dump: The "we're going to screw over IBM" hype lured in the vultures and pumped up SCO stocks. Those that then dumped stocks probably got 10x the true value for their stocks.
Milking the cow: Darl's brother Kevin is part of the SCO legal team. Keeping SCO and the conflict alive and spending big on lawyers fees got a lot of money into Darl's brother's pockets. Families help eachother out.
Unfortunately SCO was once a great software company that got trashed by poor management and greed.
Engineering is the art of compromise.
.... strongly think we need a new tag for this case.
"justdeserts" should do it nicely.
http://en.wiktionary.org/wiki/just_deserts
It'd be worth paying just to get at the details of the MS/SCO Unix cross licensing deal and/or the Baystar investing silliness.
;-D
The flip side is if Novell are right and SCO don't have any real rights to Unix then MS may want their cash back.
Mark Shuttleworth could afford it...
Mark? YOU OUT THERE!? Fancy a laugh?! G'wan!
Time flies like an arrow. Fruit flies like a banana.
SCO eunt domus!
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
It's because when a stocks value go that low it becomes very easy to manipulate in various ways (such as different pump-and-dump schemes etc) since even a very small swing in paid price means many percent in profit. Basically the stock price becomes much more unreliable as an indicator of the actual value of the company and that in turn would reflect badly on the stock exchange where it is trade.
t ock_Fraud
More about penny stock fraud at wikipedia: http://en.wikipedia.org/wiki/Penny_stocks#Penny_S
What Cicero would say was indeed "Ceterum censeo Carthaginem esse delendam". This translates (roughly) to "Furthermore, I think that Carthage must be destroyed. The "C. esse delendam" part of the quote is what one calls an "Accusativus cum infinitivo" and usually follows verbs of dialogue, reflection or counsel.
I believe that "SCO delenda est" really translates to "SCO must be deleted".
Of course my Latin is a bit rusty, so I may wrong.
I picked up a handful of SCOX shares the last time they were in danger of delisting. The paper certificates, framed, make for one of the best white elephant gifts in the IT sector. Even more desired than the chia pet or the Apple II people were swapping for. You pay extra to get the paper version, but at least the stock itself is less than a buck.
+++ UGUCAUCGUAUUUCU
A stock split it normally done when the share price is too high which makes it difficult to trade. This is done by issuing new shares to existing shareholders on a specifically designated date, such that if they previously held N shared, they now hold N*M shares where M is the stock split multiplier. It generally changes the stock price to about 1/M. It usually makes the stock a bit easier to trade, so price will go up a bit just because of the split all else being equal.
A reverse split can also be done with M simply being less than 1. It can be harder to carry out due to the fractional shares involved. However, I have seen cases where stock splits with M greater than 1 have had non-whole values for M, so apparently brokers understand how to handle this for fractional shares.
If SCO did a reverse split, it would raise the per-share price. But whether they have enough outstanding shares to even do this is a big question. And it won't change their total capitalization (aside from a very minor price increase from making the shares have an easier to trade price), which might be the real issue, anyway. People with 1 share might end up with 1/5 share (same value ... mostly worthless).
now we need to go OSS in diesel cars
Where's the problem? You buy out SCO, drop the case against IBM and declare all *nix code you own OSS, IBM comes after the company for damages, company goes poof since there's no assets left and IBM goes after management and board for money.
Bottom line, you give IBM a headache and drive Darl and his pals into bankrupcy. Win-Win.
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.