10K Filing Suggests Grim Outlook for SCO 149
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.'"
Finally! (Score:1, Informative)
Re:Finally! (Score:4, Informative)
Re:Filed their 10K? (Score:2, Informative)
Re:Not this again... (Score:1, Informative)
10K's are annual reports, companies usually only file them once per (fiscal) year. They may file amended 10-Ks (10-K\A) more often if the information in the original 10-K was inaccurate/incomplete.
The quarterly filings are 10-Qs, you've probably commented on the language there (or one of their many 8-Ks).
Re:Finally! (Score:5, Informative)
Holy hell, they're employees at a tech industry, not genocidal anti-Semetic soldiers for a facist dictator. Somewhere, Mike Godwin [wikipedia.org] 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.
Re:Septic Services (Score:3, Informative)
THAT'S what sent the stock into the pink-sheets, and prompted them to file Ch. 11 the day before the trial in Utah to determine how much of their bank balance *should* have gone to Novell as royalties. That trial restarts in April, by which time the SCOundrels will have probably burned through as much money as possible just for spite.
SCOX(Q) DELENDA EST!!
Re:huh? (Score:3, Informative)
Yep. Now novl and acacia are msft's b!tches (Score:3, Informative)
Scox was dead before the scam. If not for the scam, scox would have gone belly up three years ago. All that msft money is all that kept scox alive.
No matter, plenty more b!tches where they came from. Now msft is using novl and acacia to continue fudding linux.