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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.'"
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!
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.
Yup. Her name is Karma, and she's a real bitch.
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.
Do you mind ? We are entitled to all the gloating we can get out of this.
morcego