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| SCO Files August MORs |
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Thursday, October 14 2010 @ 08:32 PM EDT
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SCO has filed its monthly operating reports for August, with the most noticeable change being that total receipts for SCO Operations were higher than in July's MORs, from $390,592 in July to $638,075 in August. That's in the "Accounts Receivable" category, but there's an "N/A" right after it. I don't know why, and they don't explain. Just "N/A".
Net cash flow in July was ($156,589); in August, it was $240,731. Payments to subsidiaries seem to be down, and Novell's SVRx Restricted Cash went from July's $25,217 to August's $54,319. More than double? In SVRx licenses in August?
On page 16 under Other Income and Expenses we see "Intercompany Transfers: $129,549". Then "Net Profit (Loss) Before Reorganization Items $(58,609)", and the reorganization items don't do much to change the picture, so the final net loss is $(57,975).
Here are the filings:
1180 -
Filed & Entered: 10/13/2010
Operating Report
Docket Text: Debtor-In-Possession Monthly Operating Report for Filing Period As of 8/31/10 (The SCO Group, Inc.; 07-11337) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Attachments: # (1) Certificate of Service) (Fatell, Bonnie)
1181 -
Filed & Entered: 10/13/2010
Operating Report
Docket Text: Debtor-In-Possession Monthly Operating Report for Filing Period As of 8/31/10 (SCO Operations, Inc.; 07-11338) Filed by Edward N. Cahn, Chapter 11 Trustee for The SCO Group, Inc., et al.. (Attachments: # (1) Certificate of Service) (Fatell, Bonnie) The other thing I notice is that SCO consulted, I gather, with a Canadian law
firm, Stewart McKelvey, in April. I can't imagine why. At around that time, the
only things happening that I see on the list would be the sale of the mobility
assets to Darl McBride, the Yarro loan, the follow up to the trial, and the sale
of the Java patent to Liberty Lane.
OMG. A Java patent. That sounds very different now, in the light of the
Oracle-Google litigation than it did at the time, don't you think?
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| Authored by: Anonymous on Thursday, October 14 2010 @ 08:34 PM EDT |
Given that a software-only patent is just a glorified calculation that any
sufficiently powerful calculator can carry out, I see it only as a matter of
time until software-only patents are invalidated en masse.
Here's the conundrum: SCO sold a Java patent to Liberty Lane. If the patent is
invalidated for being software-only, and Liberty Lane decides SCO sold them a
bill of goods, what then? Do such accusations go all the way back to the
original patent grantee?
Would the original patent grantees have a case to make against the USPTO? Is
there any chance the fees charged for these patents could ever be refunded,
since the patents never should have been granted in the first place?
What about the patent attorneys? Would they ever have to face the music for
being ignorant of the subject matter, even though they're advising clients on
the patents they're preparing?[ Reply to This | # ]
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| Authored by: Jeffrey on Thursday, October 14 2010 @ 08:39 PM EDT |
| Find an error? Document a correction here. [ Reply to This | # ]
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- thought > though - Authored by: Jeffrey on Thursday, October 14 2010 @ 08:43 PM EDT
- auction not scheduled til 25 October - Authored by: Anonymous on Thursday, October 14 2010 @ 11:53 PM EDT
- mistake in stock price on 14 Set 2007 - Authored by: Anonymous on Saturday, October 16 2010 @ 01:37 PM EDT
- net cash flow in August: $740,731 => $240,731 - Authored by: Anonymous on Saturday, October 16 2010 @ 01:58 PM EDT
- Novell's SVRx royalty sales did not double in August - Authored by: Anonymous on Saturday, October 16 2010 @ 02:08 PM EDT
- Intercompany transfers not something new - Authored by: Anonymous on Saturday, October 16 2010 @ 02:11 PM EDT
- professional fees are paid up. not! - Authored by: Anonymous on Saturday, October 16 2010 @ 02:16 PM EDT
- SCO first slipped below the dollar value on December 15 of 2006. not! - Authored by: Anonymous on Saturday, October 16 2010 @ 02:25 PM EDT
- Linked pdf incorrect #1181 points to #1180 - Authored by: Laomedon on Sunday, October 17 2010 @ 08:13 PM EDT
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| Authored by: Jeffrey on Thursday, October 14 2010 @ 08:44 PM EDT |
| Enter any Newspicks comments here ... [ Reply to This | # ]
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| Authored by: Jeffrey on Thursday, October 14 2010 @ 08:46 PM EDT |
| Enter any off topic comments here ... [ Reply to This | # ]
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- The Trouble With GUIs - Authored by: JamesK on Thursday, October 14 2010 @ 09:27 PM EDT
- Rollover Images Cost $80k for Patent License - Authored by: Anonymous on Friday, October 15 2010 @ 03:01 AM EDT
- Computational science: ...Error - Authored by: squib on Friday, October 15 2010 @ 05:07 AM EDT
- The ultimate in prior art..... - Authored by: Anonymous on Friday, October 15 2010 @ 05:08 AM EDT
- Oh dear! - Authored by: Ian Al on Friday, October 15 2010 @ 07:45 AM EDT
- She says women themselves bear some of the blame - Authored by: Anonymous on Friday, October 15 2010 @ 10:14 AM EDT
- Tech support cartoon - Authored by: kds on Friday, October 15 2010 @ 10:26 AM EDT
- Windows Phone 7 will flop... - Authored by: Gringo on Friday, October 15 2010 @ 03:33 PM EDT
- Help "train" patent examiners - Authored by: hAckz0r on Friday, October 15 2010 @ 04:48 PM EDT
- Album price 'should drop to £1' - Authored by: tiger99 on Friday, October 15 2010 @ 04:50 PM EDT
- Ayrshire mine shaft death FAI to re-open - Authored by: tiger99 on Friday, October 15 2010 @ 05:06 PM EDT
- Stuxnet worm - Authored by: wvhillbilly on Saturday, October 16 2010 @ 12:04 AM EDT
- Stuxnet worm - Authored by: Anonymous on Saturday, October 16 2010 @ 05:23 PM EDT
- Physicists detect and control quantum states in diamond with light - Authored by: Anonymous on Saturday, October 16 2010 @ 03:17 AM EDT
- Massive Galaxy Cluster of Early Universe Discovered - 800 Trillion Suns - Authored by: Anonymous on Saturday, October 16 2010 @ 03:29 AM EDT
- Oracle shows Doc Foundation and LibreOffice members the door - Authored by: Anonymous on Sunday, October 17 2010 @ 03:12 AM EDT
- BSA tries to conn EU into abandoning Open Standards - Authored by: Peter Baker on Sunday, October 17 2010 @ 08:55 AM EDT
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| Authored by: Anonymous on Thursday, October 14 2010 @ 09:04 PM EDT |
If the auction does not bring in enough funds to pay the Post Petition Debt, Is
Judge Cahn Liable for the outstanding figure?
Judge Gross would know this hence diferring to Cahn on his litigation
strategy.
[ Reply to This | # ]
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| Authored by: Anonymous on Thursday, October 14 2010 @ 09:31 PM EDT |
And that's what I'm interested in, who bid highest at the
auction.
Your construction seems to be past tense, but I
believe the auction is scheduled for October 25. The initial bids to qualify
bidders was on Oct 5, but that was not the aution itself. [ Reply to This | # ]
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| Authored by: Anonymous on Thursday, October 14 2010 @ 09:52 PM EDT |
SCO's stock is now back up to 7 cents, up from 2 cents or maybe less
-- I don't track it closely -- and 7 is where it's been hovering most of the
time for the last few months. Do people really make money from these little dips
and surges?
You have to look at the number of shares traded as
well as the price. The recent total trades are typically in the range of a few
hundred dollars to a couple of thousand. This is hardly enough for professional
traders to even bother with. Some stock brokers will spend that kind of money on
lunch.
This may be just a few people making occasional small trades on
their personal accounts to gamble on the minor dips and peaks. Some people don't
really care to find out anything about the company they are investing in. They
just look for stock that looks very cheap and take a gamble on it going up. They
just have large spreadsheets that crank through thousands of (dubious) formulae
and then just buy or sell whatever pops out the end.
[ Reply to This | # ]
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| Authored by: Pop69 on Thursday, October 14 2010 @ 10:04 PM EDT |
"That's in the "Accounts Receivable" category, but there's an "N/A" right
after it. I don't know why, and they don't explain. Just "N/A".
"
My reading of it is that it's N/A because it didn't go into a
specific bank account which is what those columns appear to be for.
The
money itself is just the total amount of cash received during the month from
sales they've invoiced out or were owed at the begining of the period. The
breakdown is on the last page of the pdf.
Given they only invoiced out
253,235 in August I'd be surprised to see the figure this high again next month.
It seems to be high because they billed out 613,621 in July.
I haven't
been keeping track of amounts billed so I couldn't tell you what the cyclical
nature of their billing is. July may be a month when a large number of annual
contracts are billed which would skew the figures when looking at them on a
monthly basis.
(I am an accountant, but not yours)[ Reply to This | # ]
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| Authored by: Anonymous on Thursday, October 14 2010 @ 10:18 PM EDT |
The other thing I notice is that SCO consulted, I gather, with a
Canadian law firm, Stewart McKelvey, in April. I can't imagine
why.
Stewart, McKelvey is a law firm in Halifax Nova Scotia.
Halifax is the regional centre for just about everything in Atlantic Canada
(Nova Scotia, New Brunswick, PEI, and Newfoundland). However, that's not a very
big region in terms of population and not a centre for the legal or computer
industry. If this was a matter concerning SCO Canada (or what little of it
remains) as a whole, a firm in Toronto would be most likely to be handling it
(SCO Canada was based in or near Toronto).
Stewart, McKelvey
apparently handles just about anything related to law - anything from family law
to corporate bankruptcy. The most likely reason for retaining them would be that
SCO is involved in a minor dispute with someone somewhere in the region. They
could be suing someone (e.g. trying to collect a bill from a dissatisfied
customer or dealer) or someone could be suing them. I don't believe that SCO has
declared bankruptcy in Canada, so I assume they would be operating under normal
law in this case. Whatever it is, it's probably not a major issue.
[ Reply to This | # ]
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| Authored by: hopethishelps on Friday, October 15 2010 @ 04:37 AM EDT |
with the most noticeable change being that total receipts for SCO
Operations were higher than in July's MORs, from $390,592 in July to
$638,075 in August.
Those numbers don't mean much because they're
on a "cash" basis, i.e. they bounce around from month to month depending on the
exact day when each customer pays its bill.
To get a clearer picture,
look at the income statement prepared on an accrual basis, which is about the
16th page of document 1181. We see there that the net revenue was $277,861
which is pretty consistent with earlier months. And they continued to make a
loss. [ Reply to This | # ]
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| Authored by: Anonymous on Friday, October 15 2010 @ 07:20 AM EDT |
Given his spectacular failure to convince a jury with his... opinions... I
wonder how much the market thinks he's worth now?[ Reply to This | # ]
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| Authored by: Anonymous on Saturday, October 16 2010 @ 01:46 PM EDT |
The disclaimer on the MOR is still huge. It suggests that the trustee is not
doing his job and that SCO has done them questionable things in BK.
a) how normal are the MOR disclaimers
b) Why is the trustee not working to clear up the issues
c) can this thing fold with the MOR disclaimer issues not resolved?
[ Reply to This | # ]
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- Disclaimer issues - Authored by: Anonymous on Saturday, October 16 2010 @ 01:50 PM EDT
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| Authored by: Anonymous on Sunday, October 17 2010 @ 08:50 AM EDT |
Month after month, year after year, we read in the MORs the disclaimer
"As the Trustee and its financial advisors have not had sufficient
time to review all of the historical information previously reported by the
Debtors, the Trustee reserves the right to amend these Monthly Operating
Reports, including categorizing some liabilities as pre or post petition
obligations."
Last year, that might have been reasonable. But by now,
they've had sufficient time. The creditors should call Cahn on this, and
file a motion with Gross that this disclaimer either be removed, or
time-limited. [ Reply to This | # ]
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| Authored by: PJ on Sunday, October 17 2010 @ 04:40 PM EDT |
I seem to have erased the article about the MORs so if anybody has it, please
email me so I can reconstruct. Thanks.[ Reply to This | # ]
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