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10K Filing Suggests Grim Outlook for SCO
dacarr writes "SCO has filed their 10K with the SEC — and according to this, their own assessment of the company's outlook is pretty grim. As usual, PJ of Groklaw has a good synopsis of the filing highlights. In short, it boils down to one thing: unless there's a miracle, even SCO doesn't think they're going to come out of this. 'As a result of the Chapter 11 filings, realization of assets and liquidation of liabilities are subject to uncertainty. While operating as debtors-in-possession under the protection of Chapter 11 of the Bankruptcy Code, the Debtors may sell or otherwise dispose of assets and liquidate or settle liabilities for amounts other than those reflected in the consolidated financial statements, in the ordinary course of business, or, if outside the ordinary course of business, subject to Bankruptcy Court approval. In addition, under the priority scheme established by the Bankruptcy Code, unless creditors agree otherwise, post-petition liabilities and prepetition liabilities must be satisfied in full before stockholders are entitled to receive any distribution or retain any property under a plan of reorganization.'"
Rest in Pieces
Looks like my "America's Sleaziest Companies" mutual fund is going to take another hit this year.
Things are looking grim for SCO? I obviously missed something. When did this happen?
This guy's the limit!
no, there are matters which only a court of law can resolve the SCOX stories will continue. you will read the SCOX stories. you will love the SCOX stories. you will smile as you read and love the SCOX stories.
How can I miss you if you won't go away.
Microsoft is dead? :DDDDDDD
:(
*dances around before reading the summary again*
Oh, wait.. it was just the witch's bitch
which is totally what she said
...Debtors may sell or otherwise dispose of assets... Dibs on the Unix code!Those who believe the Internet is private,
find their privates are on the Internet.
All they have left is ten thoudand bucks? Dammit Jim, I'm a nerd, not a banker!
mcgrew's razor: Never attribute to stupidity that which can be explained by greedy self-interest
So we won't have to wait for Netcraft this time?
The cesspool just got a check and balance.
Yup. Her name is Karma, and she's a real bitch.
# Springtime for Linux and opensource
/#
Hackers are smiling and glad.
Linus can give his code away
SCO's sinking day by day!
Springtime for Linux and opensource
- Winter for mister McBride!
Springtime for Linux and opensource
- Coming to the end of the ride...
Leave SCO alone right now! I mean it! Anyone that has a problem with them you deal with me, because them is not well right now.
You're forgetting one thing. SCO is just about entirely a legal team now, so anyone who currently works there is not only a lawyer but a lawyer who is capable of joining in SCO's legal chicanery with a straight face. I don't think they'll be so bad off.
"And I would have gotten away with it if it weren't for those meddling kids."
Do you mind ? We are entitled to all the gloating we can get out of this.
morcego
I agree, it's shameful. There's no need to go round insulting the SS like that.
Confucius say, "Find worm in apple - bad. Find half a worm - worse."