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More MOR's, and an Amended Agenda for Friday's Hearing
Thursday, March 04 2010 @ 07:01 PM EST

It's getting hard to keep up with all the filings, but here are the MORs through January, typically being filed just before a court hearing, so no one has time to read them and digest it all. I note that the MORs all have the same disclaimer, so this may be interim MORs.

Here they are:

03/04/2010 - 1078 - Amended Notice of Agenda of Matters Scheduled for Hearing Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. Hearing scheduled for 3/5/2010 at 11:00 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. (Fatell, Bonnie) (Entered: 03/04/2010)

03/04/2010 - 1079 - Debtor-In-Possession Monthly Operating Report for Filing Period December 31, 2009 (The SCO Group, Inc.; 07-11337) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Fatell, Bonnie) (Entered: 03/04/2010)

03/04/2010 - 1080 - Debtor-In-Possession Monthly Operating Report for Filing Period December 31, 2009 (SCO Operations, Inc.; 07-11338) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Fatell, Bonnie) (Entered: 03/04/2010)

03/04/2010 - 1081 - Debtor-In-Possession Monthly Operating Report for Filing Period January 31, 2010 (The SCO Group, Inc.; 07-11337) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Fatell, Bonnie) (Entered: 03/04/2010)

03/04/2010 - 1082 - Debtor-In-Possession Monthly Operating Report for Filing Period January 31, 2010 (SCO Operations, Inc.; 07-11338) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Fatell, Bonnie) (Entered: 03/04/2010)

This makes six stories in two days, and that doesn't count all the updating to earlier articles, which has been intense. And I didn't even write about the hostile takeover bid from Elliott. Look to News Picks for info on that.

Could someone take a look at page 17 of December's MOR for SCO Operations, the intercompany payables? Look at the UK.


  


More MOR's, and an Amended Agenda for Friday's Hearing | 277 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
Corrections here please
Authored by: Tufty on Thursday, March 04 2010 @ 07:27 PM EST
Giv us a clue in the title


---
Linux powered squirrel.

[ Reply to This | # ]

Off topic here
Authored by: Tufty on Thursday, March 04 2010 @ 07:28 PM EST
All yer off tropic as well


---
Linux powered squirrel.

[ Reply to This | # ]

Newspicks
Authored by: Tufty on Thursday, March 04 2010 @ 07:29 PM EST
Read all abaaaaaaaaaarrrrrrrt it


---
Linux powered squirrel.

[ Reply to This | # ]

Comes documents
Authored by: Tufty on Thursday, March 04 2010 @ 07:30 PM EST
Keep up the good work


---
Linux powered squirrel.

[ Reply to This | # ]

UK Payables as Table
Authored by: Anonymous on Thursday, March 04 2010 @ 07:46 PM EST
UK payables for all MOR

Date ----- UK
Oct-07 ----- 159
Nov-07 ----- 127
Dec-07 -- --- -5
Jan-08 ----- 184
Feb-08 ----- 249
Mar-08 ----- 334
Ap r-08 ----- 273
May-08 ----- 284
Jun-08 ----- 231
Jul-08 ----- 204
Aug-08 ----- 134
Sep-08 ----- 143
Oct-08 ----- 299
Nov-08 - ---- 320
Dec-08 ----- 187
Jan-09 ----- 299
Feb-09 ----- 378
Mar-09 ----- 384
Apr-09 ----- 383
May-09 ----- 416
Jun-09 ----- 4 18
Jul-09 ----- 452
Aug-09 ----- 464
Sep-09 ----- 480
Oct-09 ----- 511
Nov-09 ----- 532
Dec-09 ----- 516
Jan-10 ----- 502

Much more detail available at the source... Source: Liabilities Google Doc

Summary of Bank Accounts

[ Reply to This | # ]

MORs have missing explanations re: post petition debt
Authored by: Laomedon on Thursday, March 04 2010 @ 08:53 PM EST
At the bottom of every Form MOR-4 it reads in reference to post petition debt:
Explain how and when Debtor intends to pay any past-due post petition debt.

However, no explanation follows despite past-due post petition debts exceeding available cash.

Who will be pressing for an explanation, perhaps the US trustee?

[ Reply to This | # ]

Negative owner equity of over a 1/4 Billion dollars
Authored by: Anonymous on Thursday, March 04 2010 @ 09:11 PM EST
How can any sane judge let this farce continue?

[ Reply to This | # ]

Gross should refer all this to U.S. Trustee
Authored by: Anonymous on Thursday, March 04 2010 @ 10:06 PM EST
If Gross approves all this tomorrow, we'll get an 8.8 from jaws hitting the
ground. Isn't evaluating all this part of what the U.S. Trustee's Office is
supposed to do? It's clear now that Cahn can't be trusted.

[ Reply to This | # ]

Rapidly Dwindling Cash and actual running out
Authored by: Guil Rarey on Thursday, March 04 2010 @ 10:58 PM EST
SCO is running out of cash - literally. They're coming close to not being able
to meet payroll. Even worse, they're coming close to not being able to pay
payroll taxes and income tax withholding. That's bad. "IRS chains your
doors until you make good" bad.

---
If the only way you can value something is with money, you have no idea what
it's worth. If you try to make money by making money, you won't. You might con
so

[ Reply to This | # ]

Income from exercise of options in MORs
Authored by: Anonymous on Thursday, March 04 2010 @ 11:34 PM EST
$56,100 in December
and
$8,200 in January

These would be the 660,000 director options as an average 12.95 cents. Those options were subject of a motion to approve their exercise.
The total indicates that not all options have been exchanged, since the total at 100% exchange would be $85,470. Perhaps about 500,000 shares have been exercised.

[ Reply to This | # ]

More MOR's, and an Amended Agenda for Friday's Hearing
Authored by: Yossarian on Friday, March 05 2010 @ 01:08 AM EST
>It's getting hard to keep up with all the filings

Bingo.
IMO somebody, intentionally, tries to create a perfect storm
so he can get "something" while everybody looks the other way.

[ Reply to This | # ]

SCO are up-to-date on MORs!
Authored by: Anonymous on Friday, March 05 2010 @ 01:13 AM EST
Yes, they are only interim, but SCO is actually up-to-date on MORs! When was the
last time this happened? Since long before Cahn took over, at least. Do we think
they can get February's MOR out before 20th March (which is, I think, the
nominal deadline)?

[ Reply to This | # ]

If the January MOR is correct, they should be in chapter 7.
Authored by: Anonymous on Friday, March 05 2010 @ 01:52 AM EST

If the January MOR is correct there is no prospect that creditors will get paid in full. They show that this isn't a company that is going through some temporary difficulties, that can be solved by writing off some debt. They show a company whose underlying operations do not make business sense, and which are shrinking.

The biggest joke I have seen for some time: their balance sheet. The biggest positive line item (leaving aside "Furniture, Fixtures and Office Equipment", which is exactly (and probably correctly) offset to zero by depreciation) is "Other Assets", $2,044,803. And if we look at the attached schedule to see exactly what this $2 million of "other assets" is, we find that $2,042,600 of it is ... can you guess? ... Goodwill.

Oh, my. I think that "asset" should have been written off in 2003.

[ Reply to This | # ]

Look at 1082... something screwy about the handwritten date!
Authored by: GriffMG on Friday, March 05 2010 @ 03:32 AM EST
It looks to me as if someone has fudged this - I think it was signed in
Feburary! and then cooked up to look like March... is that a good question for a
legal eagle at the hearing?

---
Keep B-) ing

[ Reply to This | # ]

More MOR's, and an Amended Agenda for Friday's Hearing
Authored by: GriffMG on Friday, March 05 2010 @ 06:33 AM EST
Doh, sorry dd/mm/yyyy here!

Changed by a day, not a month...



---
Keep B-) ing

[ Reply to This | # ]

Wasatch Economics
Authored by: turambar386 on Friday, March 05 2010 @ 08:40 AM EST
I assume that $12K is for Christine Botosan's expert testimony.

http://www.business.utah.edu/humis/cv/1271CV1266864553.pdf

[ Reply to This | # ]

The Hearing Should Have Started
Authored by: rsteinmetz70112 on Friday, March 05 2010 @ 11:06 AM EST
The whole world watches.

Was someone able to attend?

---
Rsteinmetz - IANAL therefore my opinions are illegal.

"I could be wrong now, but I don't think so."
Randy Newman - The Title Theme from Monk

[ Reply to This | # ]

my pipe dream ...
Authored by: nsomos on Friday, March 05 2010 @ 11:36 AM EST
I would like to see IBM offer far less egregious loan terms,
but ones which would ensure that IBM gets control of documents
should chap-7 finally ensue. IBM should ensure that BSF
has to make good on their agreement to present SCOGs case
all the way through. Of course IBM would finally be able
to pierce the corporate veil and seek to prosecute those
who are ultimately responsible for this travesty. This
might serve as a good deterrent to any others who might
think to shake-down IBM. Although I am only two-thirds
of they way through Novells SCOTUS petition, I think
Novell has done a good job. I can understand it despite
being a non-lawyer. Novell has supported their position
well. I certainly hope SCOTUS will hear this case.
It wouldn't hurt if they decide even after the jury
resoundingly denies SCOG and sees through the mess of
fabrications and lies SCOG tends to weave. It may also
benefit IBM to ensure things die with THIS case, and
that no zombie corpse or lobotomized Novell brings a
fresh case, using different evidence benefitting from
knowing all the mistakes BSF and SCOG made in this
attempt. While I am still certain that the GPL would
win in the end, I surely do not want to wait another
7 years to see justice finally done.

[ Reply to This | # ]

Loan approved
Authored by: Anonymous on Friday, March 05 2010 @ 12:47 PM EST
Just got out of courthouse. Loan was approved. Will send PJ full report
soon.

[ Reply to This | # ]

Shouldn't the Autozone payment show up in the MORs
Authored by: Anonymous on Friday, March 05 2010 @ 02:15 PM EST
I forget exactly what the time frame for the settlement was but shouldn't that
money appear somewhere as income? I did not see anything that I thought could be
that payment but I think the MORs in general are tough to parse.

[ Reply to This | # ]

Where would an appeal go?
Authored by: Anonymous on Friday, March 05 2010 @ 02:50 PM EST
I would guess to a Federal Court in Delaware - we should be able to figure out
which one.

So I guess, in terms of due diligence, we need to find out and start watching
the docket there.

cpeterson, WINAL

[ Reply to This | # ]

Appelate Procedures in Bankrupcies
Authored by: Anonymous on Friday, March 05 2010 @ 03:01 PM EST
For those who are asking questions about Novell appealing the decision.

http://www.justice.gov/usao/eousa/foia_reading_room/usam/title4/civ00069.htm

At this point, I have to say I am disgusted with our legal system. At every
level we have seen how a party willing to sacrifice thier morality and ethics
can play the system at every level to drive towards a desired outcome.

District. Appelate. Bankrupcy.

Equity appears to be an outdated concept.

---
Clocks
"Ita erat quando hic adveni."

[ Reply to This | # ]

Three more rulings in Utah
Authored by: ChrisP on Friday, March 05 2010 @ 05:12 PM EST
#761 - Judge Stewart picks what will be for the jury and the Court to decide
verdicts on.

#762 - First amendment issues in Slander of Title, MiLs 2 and 3 (629 and 630)
and related motion (748) granted in Novell's favour.

I think this is good for Novell as it will make it much harder for SCO to prove
slander, but it also applies in reverse to Novell's SoT claim against SCO.

#763 - Findings of Fact - denied. Novell made several mistakes in their motion,
however they will be allowed to re-present the evidence behind the 'facts' to
the jury. "That is the nature of trial."

On the whole Novell got nearly all they wanted and SCO got nothing much of any
use.

---
SCO^WM$^WIBM^W, oh bother, no-one paid me to say this.

[ Reply to This | # ]

Is a MOR with a disclaimer really a legal MOR?
Authored by: peope on Friday, March 05 2010 @ 05:53 PM EST
Is a MOR with a disclaimer really a legal MOR?

If you are obligated to submit MORs.
Can you really just (Oh. And by the way. Nothing that is in here is necessarily
the truth.)

That would make the whole document meaningless. No?

[ Reply to This | # ]

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