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.'"

Comments

Re:Finally!

[armanox]

Actually SCO didn't buy UNIX from AT&T. Novell did. And that's the whole problem. SCO thinks they bought it from Novell, but they didn't.

Re:Finally!

[ronadams]

Holy hell, they're employees at a tech industry, not genocidal anti-Semetic soldiers for a facist dictator. Somewhere, Mike Godwin is rolling around in his gra-- err, bed.

And if you think a receptionist, or even many engineers, are going to have a farking clue what abhorrent decisions the board of the company was involved in, you don't understand people (especially non-nerds), big companies, or reality very well. And to suggest that former or present SCO underlings are scum whose children deserve to go hungry for the sins of their fathers, in some epic divine retribution, is hateful, callous and unthinking.